Los Angeles California Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Los Angeles
• Control #: US-CC-18-185C
• Format: Word; Rich Text

Description

18-185C 18-185C . . . Non-employee Directors Stock Option Plan under which Class II Non-employee directors receive options for 5,000 shares, all fully vested; Class II Non-employee directors receive options for 7,500 shares, of which 5,000 are fully vested and 2,500 vest on date of 1997 annual stockholders meeting; and Class I Non-employee directors receive options for 10,000 shares, of which 5,000 are fully vested, 2,500 vest on date of 1997 annual stockholders meeting, and 2,500 vest on date of 1998 annual stockholders meeting. Thereafter, each Non-employee director automatically receives an option on his or her election or re-election as director. Each such option is for 7,500 shares if director is elected to full three year term, of which 2,500 is vested, 2,500 vests on first anniversary of grant, and 2,500 vests on second anniversary of grant. If director is elected to fill term of less than three years, number of shares is equal to 2,500 for each full year of his or her term The Los Angeles California Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive incentive program designed specifically for nonemployee directors of the company based in Los Angeles, California. This plan aims to provide these directors with an additional means of compensation and incentivize them to contribute significantly to the success and growth of National Surgery Centers, Inc. Under this stock option plan, nonemployee directors are granted the opportunity to purchase company stock at a predetermined price within a specified time period. The plan offers various types of stock options to cater to different scenarios: 1. Non-Qualified Stock Options: These options provide nonemployee directors with the right to buy a certain number of shares of National Surgery Centers, Inc. stock at a predetermined exercise price. These options are usually granted for the purpose of compensation and are subject to specific terms and conditions outlined in the plan. 2. Incentive Stock Options: This type of stock option allows nonemployee directors to purchase company shares at a specified price, usually lower than the fair market value. Incentive stock options offer potential tax advantages as they may be taxed at capital gains rates if certain conditions are met. 3. Restricted Stock Units (RSS): Rather than granting options, the Los Angeles California Nonemployee Directors Stock Option Plan may also include RSS. RSS represents a promise to deliver a certain number of shares to directors at a predetermined future date or upon the achievement of specific performance goals. The eligibility criteria for participation in the plan may require nonemployee directors to be active members of the National Surgery Centers, Inc. board, appointed by shareholders, and not actively involved in the company's day-to-day operations. Participation in the Los Angeles California Nonemployee Directors Stock Option Plan can benefit nonemployee directors by aligning their interests with those of the company's shareholders. It encourages their continued dedication and commitment to the achievement of the company's long-term goals.

The Los Angeles California Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive incentive program designed specifically for nonemployee directors of the company based in Los Angeles, California. This plan aims to provide these directors with an additional means of compensation and incentivize them to contribute significantly to the success and growth of National Surgery Centers, Inc. Under this stock option plan, nonemployee directors are granted the opportunity to purchase company stock at a predetermined price within a specified time period. The plan offers various types of stock options to cater to different scenarios: 1. Non-Qualified Stock Options: These options provide nonemployee directors with the right to buy a certain number of shares of National Surgery Centers, Inc. stock at a predetermined exercise price. These options are usually granted for the purpose of compensation and are subject to specific terms and conditions outlined in the plan. 2. Incentive Stock Options: This type of stock option allows nonemployee directors to purchase company shares at a specified price, usually lower than the fair market value. Incentive stock options offer potential tax advantages as they may be taxed at capital gains rates if certain conditions are met. 3. Restricted Stock Units (RSS): Rather than granting options, the Los Angeles California Nonemployee Directors Stock Option Plan may also include RSS. RSS represents a promise to deliver a certain number of shares to directors at a predetermined future date or upon the achievement of specific performance goals. The eligibility criteria for participation in the plan may require nonemployee directors to be active members of the National Surgery Centers, Inc. board, appointed by shareholders, and not actively involved in the company's day-to-day operations. Participation in the Los Angeles California Nonemployee Directors Stock Option Plan can benefit nonemployee directors by aligning their interests with those of the company's shareholders. It encourages their continued dedication and commitment to the achievement of the company's long-term goals.