Mecklenburg North Carolina Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Mecklenburg
• 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 Mecklenburg North Carolina Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive compensation program designed specifically for nonemployee directors who serve on the board of directors of National Surgery Centers, Inc. This plan is tailored to provide eligible nonemployee directors with stock options as a means of incentivizing and aligning their interests with the long-term success of the company. Here is a detailed description of the plan, along with some relevant keywords: 1. Eligibility: — Nonemployee directors: The plan is exclusively available to directors of National Surgery Centers, Inc. who are not employed by the company. 2. Purpose: — Incentivization: The plan is designed to motivate and reward nonemployee directors for their contributions to the company's growth and performance. — Alignment of interests: By offering stock options, the plan ensures that the interests of nonemployee directors are closely tied to those of the shareholders and the overall success of National Surgery Centers, Inc. 3. Types of stock options: — Restricted stock options: Nonemployee directors may be granted restricted stock options, subject to certain vesting conditions such as a specified period of service or achievement of performance targets. — Non-qualified stock options: The plan may also offer non-qualified stock options, which provide flexibility in terms of taxation and exercise price. 4. Granting of stock options: — Annual grants: Stock options are typically granted on an annual basis to nonemployee directors. — Board approval: The grant of stock options is subject to approval by the company's board of directors. — Fair market value: The exercise price of stock options is set at fair market value on the date of grant, ensuring the alignment of interests with shareholders. 5. Vesting and exercise: — Vesting schedule: Stock options granted under the plan may vest over a predetermined period, encouraging nonemployee directors to remain actively engaged with the company. — Exercise period: Nonemployee directors can exercise their vested stock options within a specified time frame, usually after a waiting period has elapsed. 6. Additional provisions: — Change of control: The plan may contain provisions outlining the treatment of stock options in the event of a change of control or acquisition of National Surgery Centers, Inc. — Nontransferable: Stock options granted under the plan are typically nontransferable, ensuring their alignment to the specific nonemployee director. By implementing the Mecklenburg North Carolina Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc., the company aims to attract and retain talented nonemployee directors while also promoting their active involvement in the growth and success of the organization.

The Mecklenburg North Carolina Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive compensation program designed specifically for nonemployee directors who serve on the board of directors of National Surgery Centers, Inc. This plan is tailored to provide eligible nonemployee directors with stock options as a means of incentivizing and aligning their interests with the long-term success of the company. Here is a detailed description of the plan, along with some relevant keywords: 1. Eligibility: — Nonemployee directors: The plan is exclusively available to directors of National Surgery Centers, Inc. who are not employed by the company. 2. Purpose: — Incentivization: The plan is designed to motivate and reward nonemployee directors for their contributions to the company's growth and performance. — Alignment of interests: By offering stock options, the plan ensures that the interests of nonemployee directors are closely tied to those of the shareholders and the overall success of National Surgery Centers, Inc. 3. Types of stock options: — Restricted stock options: Nonemployee directors may be granted restricted stock options, subject to certain vesting conditions such as a specified period of service or achievement of performance targets. — Non-qualified stock options: The plan may also offer non-qualified stock options, which provide flexibility in terms of taxation and exercise price. 4. Granting of stock options: — Annual grants: Stock options are typically granted on an annual basis to nonemployee directors. — Board approval: The grant of stock options is subject to approval by the company's board of directors. — Fair market value: The exercise price of stock options is set at fair market value on the date of grant, ensuring the alignment of interests with shareholders. 5. Vesting and exercise: — Vesting schedule: Stock options granted under the plan may vest over a predetermined period, encouraging nonemployee directors to remain actively engaged with the company. — Exercise period: Nonemployee directors can exercise their vested stock options within a specified time frame, usually after a waiting period has elapsed. 6. Additional provisions: — Change of control: The plan may contain provisions outlining the treatment of stock options in the event of a change of control or acquisition of National Surgery Centers, Inc. — Nontransferable: Stock options granted under the plan are typically nontransferable, ensuring their alignment to the specific nonemployee director. By implementing the Mecklenburg North Carolina Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc., the company aims to attract and retain talented nonemployee directors while also promoting their active involvement in the growth and success of the organization.