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

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Franklin
• 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 Franklin Ohio Amended and Restated Stock Option Plan of Continental Materials Corp. is a comprehensive compensation program designed to provide eligible employees of the company with stock options as part of their overall remuneration package. This plan grants employees the opportunity to purchase shares of Continental Materials Corp. at a predetermined price for a specified period. The primary goal of the Franklin Ohio Amended and Restated Stock Option Plan is to align the interests of employees with the long-term success of the company, fostering a sense of ownership and incentivizing employees to contribute to the growth and profitability of Continental Materials Corp. The plan is designed to motivate and retain talented individuals by offering them the potential for financial rewards if the company's stock price appreciates over time. The Franklin Ohio Amended and Restated Stock Option Plan encompasses various types of stock options, including: 1. Incentive Stock Options (SOS): These are stock options that qualify for favorable tax treatment under the United States Internal Revenue Code. SOS usually come with strict eligibility requirements and specific holding periods before the gained stock can be sold. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not qualify for special tax treatment. They offer more flexibility in terms of eligibility requirements and holding periods. However, they may be subject to higher tax rates upon exercising the options. 3. Restricted Stock Units (RSS): RSS are units representing a promise to provide employees with shares of company stock in the future. They are typically subject to a vesting schedule, meaning employees must remain with the company for a certain period before gaining ownership of the shares. 4. Performance Stock Units (Plus): Plus are similar to RSS but have additional performance-based criteria that employees must meet to receive the shares. These criteria are usually tied to predetermined performance goals, such as revenue targets or stock price milestones. The Franklin Ohio Amended and Restated Stock Option Plan of Continental Materials Corp. helps attract and retain top talent by offering employees the opportunity to share in the company's success. By providing stock options through various mechanisms, it allows employees to benefit from the company's growth while also incentivizing them to contribute to its overall success.

The Franklin Ohio Amended and Restated Stock Option Plan of Continental Materials Corp. is a comprehensive compensation program designed to provide eligible employees of the company with stock options as part of their overall remuneration package. This plan grants employees the opportunity to purchase shares of Continental Materials Corp. at a predetermined price for a specified period. The primary goal of the Franklin Ohio Amended and Restated Stock Option Plan is to align the interests of employees with the long-term success of the company, fostering a sense of ownership and incentivizing employees to contribute to the growth and profitability of Continental Materials Corp. The plan is designed to motivate and retain talented individuals by offering them the potential for financial rewards if the company's stock price appreciates over time. The Franklin Ohio Amended and Restated Stock Option Plan encompasses various types of stock options, including: 1. Incentive Stock Options (SOS): These are stock options that qualify for favorable tax treatment under the United States Internal Revenue Code. SOS usually come with strict eligibility requirements and specific holding periods before the gained stock can be sold. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not qualify for special tax treatment. They offer more flexibility in terms of eligibility requirements and holding periods. However, they may be subject to higher tax rates upon exercising the options. 3. Restricted Stock Units (RSS): RSS are units representing a promise to provide employees with shares of company stock in the future. They are typically subject to a vesting schedule, meaning employees must remain with the company for a certain period before gaining ownership of the shares. 4. Performance Stock Units (Plus): Plus are similar to RSS but have additional performance-based criteria that employees must meet to receive the shares. These criteria are usually tied to predetermined performance goals, such as revenue targets or stock price milestones. The Franklin Ohio Amended and Restated Stock Option Plan of Continental Materials Corp. helps attract and retain top talent by offering employees the opportunity to share in the company's success. By providing stock options through various mechanisms, it allows employees to benefit from the company's growth while also incentivizing them to contribute to its overall success.