Cuyahoga Ohio Amended and Restated Stock Option Plan of Continental Materials Corp.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Cuyahoga
• Control #: US-CC-18-208H
• Format: Word; Rich Text

Description

18-208H 18-208H . . . Non-qualified Stock Option Plan under which committee can award reload stock options (Non-qualified Stock Options which (i) are awarded automatically upon exercise of stock option granted under Plan where option price is paid by optionee's delivery of previously owned shares of common stock, and (ii) entitle such optionee to purchase number of shares so delivered for option price equal to fair market value of a share of common stock on date original option was exercised). Plan provides that if optionee or any other person who acquires options by bequest or inheritance or by reason of his or her death proposes to sell, transfer, or otherwise dispose of shares acquired upon exercise, corporation shall have prior right to purchase all or any part of such shares at market price The Cuyahoga Ohio Amended and Restated Stock Option Plan of Continental Materials Corp. is a comprehensive employee benefit program designed to incentivize and reward employees through stock options. This plan allows selected employees of Continental Materials Corp. to purchase company stock at a specified price within a predetermined timeframe. The Cuyahoga Ohio Amended and Restated Stock Option Plan offers several types of stock options to employees, each tailored to meet different objectives and needs. These include: 1. Non-Qualified Stock Options (SOS): SOS are the most common type of stock options offered under the Amended and Restated Plan. These options provide employees the ability to purchase company stock at a predetermined price, known as the exercise price, within a specific timeframe. SOS are subject to income tax upon exercise. 2. Incentive Stock Options (SOS): SOS are a type of stock option plan that provides certain tax advantages to employees. These options are typically offered to key employees and have specific eligibility criteria outlined in the plan. SOS offer potential tax benefits upon exercise and holding the stock for a specific period. 3. Restricted Stock Units (RSS): RSS are a form of equity compensation that grants employees the right to receive company stock at a future date, usually upon vesting. Unlike stock options, RSS do not allow the employee to purchase stock at a specific price but rather entitle them to receive a set number of shares as determined by the plan. 4. Performance Stock Options (SOS): SOS are stock options granted to employees based on the company's performance metrics. These options are usually contingent upon the achievement of specific goals or targets set by the company. SOS provide a strong incentive for employees to contribute to the company's growth and success. The Cuyahoga Ohio Amended and Restated Stock Option Plan of Continental Materials Corp. is designed to align the interests of employees with the long-term success of the company. It provides employees with the opportunity to participate in the company's growth while offering a variety of stock option types tailored to their specific needs and objectives.

The Cuyahoga Ohio Amended and Restated Stock Option Plan of Continental Materials Corp. is a comprehensive employee benefit program designed to incentivize and reward employees through stock options. This plan allows selected employees of Continental Materials Corp. to purchase company stock at a specified price within a predetermined timeframe. The Cuyahoga Ohio Amended and Restated Stock Option Plan offers several types of stock options to employees, each tailored to meet different objectives and needs. These include: 1. Non-Qualified Stock Options (SOS): SOS are the most common type of stock options offered under the Amended and Restated Plan. These options provide employees the ability to purchase company stock at a predetermined price, known as the exercise price, within a specific timeframe. SOS are subject to income tax upon exercise. 2. Incentive Stock Options (SOS): SOS are a type of stock option plan that provides certain tax advantages to employees. These options are typically offered to key employees and have specific eligibility criteria outlined in the plan. SOS offer potential tax benefits upon exercise and holding the stock for a specific period. 3. Restricted Stock Units (RSS): RSS are a form of equity compensation that grants employees the right to receive company stock at a future date, usually upon vesting. Unlike stock options, RSS do not allow the employee to purchase stock at a specific price but rather entitle them to receive a set number of shares as determined by the plan. 4. Performance Stock Options (SOS): SOS are stock options granted to employees based on the company's performance metrics. These options are usually contingent upon the achievement of specific goals or targets set by the company. SOS provide a strong incentive for employees to contribute to the company's growth and success. The Cuyahoga Ohio Amended and Restated Stock Option Plan of Continental Materials Corp. is designed to align the interests of employees with the long-term success of the company. It provides employees with the opportunity to participate in the company's growth while offering a variety of stock option types tailored to their specific needs and objectives.