Contra Costa California 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: Contra Costa
• 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 Contra Costa California Stock Option Plan is a comprehensive program designed to attract and retain executive officers in companies based in Contra Costa County, California. Under this plan, eligible executives are granted two different types of stock options — Incentive Stock OptionsSOSOs) and Nonqualified Stock Options (SOS). Incentive Stock Options (SOS) are a type of stock option granted exclusively to executive officers. These options provide certain tax advantages compared to other types of stock options. SOS are subject to specific eligibility criteria and must meet the requirements outlined in the Internal Revenue Code (IRC). They offer the potential for long-term capital gains tax treatment upon exercise and sale of the underlying stock, provided certain holding periods and other conditions are met. Nonqualified Stock Options (SOS) are also granted to executive officers under the Contra Costa California Stock Option Plan. Unlike SOS, SOS do not have specific eligibility criteria or restrictions set forth by the IRC. SOS do not offer the same tax advantages as SOS and are subject to ordinary income tax upon exercise. The Contra Costa California Stock Option Plan is carefully structured to align the interests of executive officers with those of the company's shareholders. By granting stock options, the plan aims to incentivize executive officers to drive the company's growth and maximize shareholder value. The specific terms and conditions associated with the stock options, such as exercise price, vesting schedule, and expiration date, are determined by the company's board of directors and specified in individual option agreements. Executive officers who participate in the Contra Costa California Stock Option Plan have the opportunity to benefit from both SOS and SOS, enabling them to align their financial interests with the long-term success of the company. These stock options serve as powerful incentives and rewards, motivating executives to contribute their expertise and dedication towards achieving the company's strategic goals.

The Contra Costa California Stock Option Plan is a comprehensive program designed to attract and retain executive officers in companies based in Contra Costa County, California. Under this plan, eligible executives are granted two different types of stock options — Incentive Stock OptionsSOSOs) and Nonqualified Stock Options (SOS). Incentive Stock Options (SOS) are a type of stock option granted exclusively to executive officers. These options provide certain tax advantages compared to other types of stock options. SOS are subject to specific eligibility criteria and must meet the requirements outlined in the Internal Revenue Code (IRC). They offer the potential for long-term capital gains tax treatment upon exercise and sale of the underlying stock, provided certain holding periods and other conditions are met. Nonqualified Stock Options (SOS) are also granted to executive officers under the Contra Costa California Stock Option Plan. Unlike SOS, SOS do not have specific eligibility criteria or restrictions set forth by the IRC. SOS do not offer the same tax advantages as SOS and are subject to ordinary income tax upon exercise. The Contra Costa California Stock Option Plan is carefully structured to align the interests of executive officers with those of the company's shareholders. By granting stock options, the plan aims to incentivize executive officers to drive the company's growth and maximize shareholder value. The specific terms and conditions associated with the stock options, such as exercise price, vesting schedule, and expiration date, are determined by the company's board of directors and specified in individual option agreements. Executive officers who participate in the Contra Costa California Stock Option Plan have the opportunity to benefit from both SOS and SOS, enabling them to align their financial interests with the long-term success of the company. These stock options serve as powerful incentives and rewards, motivating executives to contribute their expertise and dedication towards achieving the company's strategic goals.