Allegheny Pennsylvania Stock Option Plan which provides for grant of Incentive Stock Options and Nonqualified Stock Options to executive officers

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Allegheny
• Control #: US-CC-18-210C
• Format: Word; Rich Text

Description

18-210C 18-210C . . . Stock Option Plan which provides for grant of Incentive Stock Options and Non-qualified Stock Options to executive officers of corporation and (b) Non-qualified Stock Options to outside directors on following basis: an initial grant of option to purchase 10,000 shares of the stock plus annual grants of options to purchase 5,000 shares, provided outside director continues to serve as outside director. Each outside director also receives annual option grant of 2,000 shares for each committee on which he or she serves. Outside directors' options are not exercisable during first 12 months of their term. After 12 months they become exercisable as to 24% plus 2% for each complete month of continuous service in excess of 12 months until fully vested. Options may also be granted to executive officers residing in foreign jurisdictions. Board of Directors may adopt such supplements to Plan as may be necessary to comply with applicable laws of such foreign jurisdictions and to afford participants favorable treatment under such laws The Allegheny Pennsylvania Stock Option Plan is a comprehensive compensation package offered to executive officers. It includes the provision for the grant of both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). This plan allows executive officers to receive additional compensation in the form of stock options, which provide the opportunity to purchase company stock at a predetermined price. Incentive Stock Options (SOS) are a type of stock option that offers certain tax advantages to the executive officers. These options are usually granted with the intention of incentivizing long-term company performance and promoting executive loyalty. SOS have specific eligibility requirements and must comply with certain regulations outlined by the Internal Revenue Code. Nonqualified Stock Options (SOS), on the other hand, are stock options that do not meet the eligibility criteria outlined for SOS. SOS provide executive officers with flexibility and are not subject to the same strict requirements. They are often used to provide compensation based on short-term goals, performance milestones, or as a more accessible option for certain executives. The Allegheny Pennsylvania Stock Option Plan recognizes the different needs and objectives of executive officers and offers both SOS and SOS as part of its comprehensive compensation package. This ensures that executives have various options and can tailor their compensation to align with their financial goals and circumstances. Overall, the Allegheny Pennsylvania Stock Option Plan aims to attract and retain high-performing executive officers by providing them with an additional form of compensation through stock options. By granting both Incentive Stock Options and Nonqualified Stock Options, the plan allows for flexibility, tax advantages, and increased incentives for executives to contribute to the company's long-term success.

The Allegheny Pennsylvania Stock Option Plan is a comprehensive compensation package offered to executive officers. It includes the provision for the grant of both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). This plan allows executive officers to receive additional compensation in the form of stock options, which provide the opportunity to purchase company stock at a predetermined price. Incentive Stock Options (SOS) are a type of stock option that offers certain tax advantages to the executive officers. These options are usually granted with the intention of incentivizing long-term company performance and promoting executive loyalty. SOS have specific eligibility requirements and must comply with certain regulations outlined by the Internal Revenue Code. Nonqualified Stock Options (SOS), on the other hand, are stock options that do not meet the eligibility criteria outlined for SOS. SOS provide executive officers with flexibility and are not subject to the same strict requirements. They are often used to provide compensation based on short-term goals, performance milestones, or as a more accessible option for certain executives. The Allegheny Pennsylvania Stock Option Plan recognizes the different needs and objectives of executive officers and offers both SOS and SOS as part of its comprehensive compensation package. This ensures that executives have various options and can tailor their compensation to align with their financial goals and circumstances. Overall, the Allegheny Pennsylvania Stock Option Plan aims to attract and retain high-performing executive officers by providing them with an additional form of compensation through stock options. By granting both Incentive Stock Options and Nonqualified Stock Options, the plan allows for flexibility, tax advantages, and increased incentives for executives to contribute to the company's long-term success.