Wayne Michigan Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Wayne
• 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 Wayne Michigan Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive compensation program designed to reward nonemployee directors for their valuable contributions to the company. This stock option plan provides an opportunity for these directors to purchase company shares at a predetermined price, giving them a stake in the company's success and aligning their interests with those of the shareholders. The Wayne Michigan Nonemployee Directors Stock Option Plan offers various types of stock options to participants, providing flexibility and customization based on individual circumstances and preferences. Some distinct types of options available under this plan include: 1. Nonqualified Stock Options (SOS): Nonemployee directors may be granted SOS, which allow them to purchase company shares at a predetermined exercise price. These options are subject to taxation upon exercise but offer greater flexibility in terms of exercise price and timing. 2. Incentive Stock Options (SOS): National Surgery Centers, Inc. may grant SOS to nonemployee directors, which have certain tax advantages compared to SOS. SOS provide participants with an opportunity to purchase company shares at a specified price while potentially receiving favorable tax treatment upon exercise and sale. 3. Restricted Stock Units (RSS): In addition to stock options, the Wayne Michigan Nonemployee Directors Stock Option Plan may offer RSS to nonemployee directors. RSS represents a promise to deliver company shares in the future, typically after a vesting period. Upon vesting, directors receive actual shares or their cash equivalent, providing a direct ownership interest in the company. 4. Performance-Based Stock Options: National Surgery Centers, Inc. may also include performance-based stock options within this plan. These options are granted based on predefined performance criteria, rewarding directors for achieving specific goals or milestones. Performance-based options provide an additional incentive for directors to drive the company's growth and value creation. The Wayne Michigan Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is governed by certain rules and regulations, ensuring fairness and transparency in the administration and implementation of the plan. Participants are provided with detailed guidelines regarding the terms and conditions of their stock options, including exercise periods, vesting schedules, and any applicable restrictions. It is important to note that the specifics of the Wayne Michigan Nonemployee Directors Stock Option Plan may vary based on the company's evolving needs and regulatory requirements. Participants should consult the plan documents and relevant legal counsel for accurate and up-to-date information on the available options and their associated terms.

The Wayne Michigan Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive compensation program designed to reward nonemployee directors for their valuable contributions to the company. This stock option plan provides an opportunity for these directors to purchase company shares at a predetermined price, giving them a stake in the company's success and aligning their interests with those of the shareholders. The Wayne Michigan Nonemployee Directors Stock Option Plan offers various types of stock options to participants, providing flexibility and customization based on individual circumstances and preferences. Some distinct types of options available under this plan include: 1. Nonqualified Stock Options (SOS): Nonemployee directors may be granted SOS, which allow them to purchase company shares at a predetermined exercise price. These options are subject to taxation upon exercise but offer greater flexibility in terms of exercise price and timing. 2. Incentive Stock Options (SOS): National Surgery Centers, Inc. may grant SOS to nonemployee directors, which have certain tax advantages compared to SOS. SOS provide participants with an opportunity to purchase company shares at a specified price while potentially receiving favorable tax treatment upon exercise and sale. 3. Restricted Stock Units (RSS): In addition to stock options, the Wayne Michigan Nonemployee Directors Stock Option Plan may offer RSS to nonemployee directors. RSS represents a promise to deliver company shares in the future, typically after a vesting period. Upon vesting, directors receive actual shares or their cash equivalent, providing a direct ownership interest in the company. 4. Performance-Based Stock Options: National Surgery Centers, Inc. may also include performance-based stock options within this plan. These options are granted based on predefined performance criteria, rewarding directors for achieving specific goals or milestones. Performance-based options provide an additional incentive for directors to drive the company's growth and value creation. The Wayne Michigan Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is governed by certain rules and regulations, ensuring fairness and transparency in the administration and implementation of the plan. Participants are provided with detailed guidelines regarding the terms and conditions of their stock options, including exercise periods, vesting schedules, and any applicable restrictions. It is important to note that the specifics of the Wayne Michigan Nonemployee Directors Stock Option Plan may vary based on the company's evolving needs and regulatory requirements. Participants should consult the plan documents and relevant legal counsel for accurate and up-to-date information on the available options and their associated terms.