Fulton Georgia Amended and Restated Stock Option Plan of Continental Materials Corp.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Fulton
• 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 Fulton Georgia Amended and Restated Stock Option Plan is a significant plan developed by Continental Materials Corp., an established company in Fulton, Georgia. This plan offers various stock option benefits to the employees of the corporation while ensuring compliance with legal and regulatory requirements. Continental Materials Corp. designed the Fulton Georgia Amended and Restated Stock Option Plan to attract, retain, and motivate talented individuals who contribute to the company's success. The plan enables eligible employees to purchase company stock at a predetermined price within a specified period. The plan consists of multiple types of stock options, each serving a different purpose and offering unique benefits. These options are: 1. Incentive Stock Options (SOS): SOS are granted to employees with specific tax advantages. They allow employees to purchase company stock at a discounted price without immediate tax consequences. However, to qualify for these options, employees must adhere to certain holding period requirements. 2. Non-Qualified Stock Options (Nests): Nests are more flexible as they are not subject to the same stringent tax regulations as SOS. Employees can purchase company stock at a predetermined price, and the difference between the predetermined price and the market price upon exercise is taxed as ordinary income. 3. Restricted Stock Units (RSS): RSS provide employees the right to receive company stock at a future date or upon meeting certain specified conditions. RSS is beneficial for both employees and the company, as they align employee interests with the company's performance and long-term goals. 4. Performance Stock Units (Plus): Plus are granted based on predetermined performance goals. These stock options are contingent upon the achievement of specific targets, such as revenue growth, profitability, or market share. Plus help motivate employees to enhance the company's performance and share in its success. The Continental Materials Corp.'s Fulton Georgia Amended and Restated Stock Option Plan serves as a valuable tool for attracting and rewarding talent, fostering employee retention, and aligning employee interests with the company's growth. The diverse types of stock options within the plan provide eligible employees with different avenues to benefit from the company's success.

The Fulton Georgia Amended and Restated Stock Option Plan is a significant plan developed by Continental Materials Corp., an established company in Fulton, Georgia. This plan offers various stock option benefits to the employees of the corporation while ensuring compliance with legal and regulatory requirements. Continental Materials Corp. designed the Fulton Georgia Amended and Restated Stock Option Plan to attract, retain, and motivate talented individuals who contribute to the company's success. The plan enables eligible employees to purchase company stock at a predetermined price within a specified period. The plan consists of multiple types of stock options, each serving a different purpose and offering unique benefits. These options are: 1. Incentive Stock Options (SOS): SOS are granted to employees with specific tax advantages. They allow employees to purchase company stock at a discounted price without immediate tax consequences. However, to qualify for these options, employees must adhere to certain holding period requirements. 2. Non-Qualified Stock Options (Nests): Nests are more flexible as they are not subject to the same stringent tax regulations as SOS. Employees can purchase company stock at a predetermined price, and the difference between the predetermined price and the market price upon exercise is taxed as ordinary income. 3. Restricted Stock Units (RSS): RSS provide employees the right to receive company stock at a future date or upon meeting certain specified conditions. RSS is beneficial for both employees and the company, as they align employee interests with the company's performance and long-term goals. 4. Performance Stock Units (Plus): Plus are granted based on predetermined performance goals. These stock options are contingent upon the achievement of specific targets, such as revenue growth, profitability, or market share. Plus help motivate employees to enhance the company's performance and share in its success. The Continental Materials Corp.'s Fulton Georgia Amended and Restated Stock Option Plan serves as a valuable tool for attracting and rewarding talent, fostering employee retention, and aligning employee interests with the company's growth. The diverse types of stock options within the plan provide eligible employees with different avenues to benefit from the company's success.