Hennepin Minnesota Employee Stock Option Plan of Vivigen, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Hennepin
• Control #: US-CC-18-148
• Format: Word; Rich Text

Description

18-148 18-148 . . . Employee Stock Option Plan which recognizes eight levels of responsibility within corporation and which provides that each eligible employee shall receive stock option to purchase that number of shares of corporation common stock that is equal to number derived by dividing option value corresponding to his or her level of responsibility by initial grant price (fair market value on date of grant) according to schedule which ranges from technical and administrative personnel levels one through four with option values from $1,250 through $5,000 to Chief Executive Officer level eight with option value of $100,000. Options are exercisable for up to (a) 50% of shares covered by option at any time after corporation's gross revenues meet or exceed a 30% increase for each of two consecutive calendar years ending following grant of option and (b) 100% of shares covered by option at any time after corporation's gross revenues meet or exceed a 40% increase for each of two consecutive calendar years following grant of stock option

The Hennepin Minnesota Employee Stock Option Plan (ESOP) of Vivien, Inc. is a program designed to provide employees of the company with an opportunity to purchase shares of company stock at a predetermined price. This plan allows employees to become shareholders and have a vested interest in the company's success. Vivien, Inc. offers different types of Sops under the Hennepin Minnesota Employee Stock Option Plan, providing employees with various options to participate in the program. These options may include: 1. Standard Stock Option: This type of ESOP grants employees the right to purchase company stock at a predetermined price, known as the exercise price. The exercise price is typically set at the fair market value of the stock at the time of the grant. Employees have a specific timeframe within which they can exercise their options and purchase the shares. 2. Incentive Stock Option (ISO): In addition to the standard stock option, Vivien, Inc. may also offer SOS to its employees. SOS are subject to certain qualifications, such as being granted only to employees and having a fixed exercise price determined by the board of directors. These options provide potential tax advantages to employees if specific holding requirements are met. 3. Restricted Stock Unit (RSU) Option: RSS are another form of stock compensation offered by Vivien, Inc. under the Hennepin Minnesota Employee Stock Option Plan. Instead of granting actual shares, RSS represent hypothetical shares that are converted into actual shares upon vesting. Employees receive RSS as part of their compensation, and the units typically vest over a predetermined period, after which the employee has the right to convert them into company stock. Participation in the Hennepin Minnesota Employee Stock Option Plan offers several benefits to employees. Firstly, it incentivizes and aligns their interests with the company's success, encouraging them to work towards its long-term growth. Secondly, it provides an opportunity for employees to share in the company's profitability and potentially benefit from any appreciation in the stock's value. Understanding the different types of Sops available under the Hennepin Minnesota Employee Stock Option Plan is important for employees to make informed decisions about their participation. By offering these options, Vivien, Inc. aims to attract and retain talented individuals, foster employee loyalty, and create a sense of ownership among its workforce.