Queens New York Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Queens
• 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 Queens New York Nonemployee Directors Stock Option Plan is a part of National Surgery Centers, Inc., a prominent company operating in the field of healthcare services. This plan is particularly designed to offer stock options to nonemployee directors of the company located in Queens, New York. It serves as a means to attract and retain talented individuals in senior positions within the company's board of directors. Under the Queens New York Nonemployee Directors Stock Option Plan, eligible nonemployee directors are given the opportunity to acquire a specific number of shares of National Surgery Centers, Inc. stock at a predetermined price within a specified time frame. These stock options are often granted as a reward for their valuable contributions, as well as to align their interests with those of the company and its shareholders. The plan is designed to provide flexibility and encourage directors' long-term commitment to the success of National Surgery Centers, Inc. It strengthens the connection between the directors and the company's overall performance by allowing them to benefit from the growth and prosperity of the business. Different types or variations of the Queens New York Nonemployee Directors Stock Option Plan may include: 1. Standard Stock Option Plan: This is the commonly offered plan that allows nonemployee directors to purchase a specific number of company stock options at an exercise price determined by the company's board of directors. 2. Performance-Based Stock Option Plan: In this type of plan, the granted stock options are tied to certain performance goals or milestones set by the company. The directors become eligible to exercise their options only if the predetermined targets are met. 3. Restricted Stock Option Plan: Under this plan, nonemployee directors are granted stock options that are subject to certain restrictions. These restrictions may include a vesting period or performance milestones that need to be achieved before the options can be exercised. 4. Nonqualified Stock Option Plan: Nonqualified stock options are options that do not meet specific requirements set by the Internal Revenue Service (IRS), making them subject to different taxation rules. This type of plan may be implemented to offer greater flexibility in designing the stock options' terms. The Queens New York Nonemployee Directors Stock Option Plan provides an attractive incentive for nonemployee directors to play an integral role in guiding National Surgery Centers, Inc.'s success. Through this plan, the company strives to ensure effective corporate governance and enhance shareholders' value while attracting and retaining exceptional talent in the boardroom.