King Washington 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: King
• 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 King Washington Stock Option Plan is a comprehensive program designed to offer executive officers of the company various types of stock options. This plan provides for the grant of both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Incentive Stock Options (SOS) are a type of stock option reserved for executive officers that carry specific tax advantages. These options give the recipient the opportunity to purchase company stock at a predetermined price, known as the exercise price. SOS have certain eligibility requirements and are subject to strict rules set by the Internal Revenue Service (IRS). They are generally granted with the intention of providing a long-term incentive for executives to drive company performance and share in its success. Nonqualified Stock Options (SOS) are another type of stock option available to executive officers. Unlike SOS, SOS do not carry the same tax advantages. However, SOS offer greater flexibility in terms of eligibility and potential use. They can be granted at a discount or at fair market value and are subject to standard income tax upon exercise. SOS are often utilized as a means to attract and retain executive talent by offering them the opportunity to share in the company's growth and profitability. The King Washington Stock Option Plan understands the importance of providing various options to executive officers, as their needs and circumstances may differ. By offering both Incentive Stock Options and Nonqualified Stock Options, the plan aims to cater to individual preferences and provide flexibility in terms of tax treatment and overall benefits. In summary, the King Washington Stock Option Plan grants Incentive Stock Options and Nonqualified Stock Options to executive officers. Through the different types of stock options offered, this plan enables executive officers to participate in the company's success and align their interests with those of the shareholders.

The King Washington Stock Option Plan is a comprehensive program designed to offer executive officers of the company various types of stock options. This plan provides for the grant of both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Incentive Stock Options (SOS) are a type of stock option reserved for executive officers that carry specific tax advantages. These options give the recipient the opportunity to purchase company stock at a predetermined price, known as the exercise price. SOS have certain eligibility requirements and are subject to strict rules set by the Internal Revenue Service (IRS). They are generally granted with the intention of providing a long-term incentive for executives to drive company performance and share in its success. Nonqualified Stock Options (SOS) are another type of stock option available to executive officers. Unlike SOS, SOS do not carry the same tax advantages. However, SOS offer greater flexibility in terms of eligibility and potential use. They can be granted at a discount or at fair market value and are subject to standard income tax upon exercise. SOS are often utilized as a means to attract and retain executive talent by offering them the opportunity to share in the company's growth and profitability. The King Washington Stock Option Plan understands the importance of providing various options to executive officers, as their needs and circumstances may differ. By offering both Incentive Stock Options and Nonqualified Stock Options, the plan aims to cater to individual preferences and provide flexibility in terms of tax treatment and overall benefits. In summary, the King Washington Stock Option Plan grants Incentive Stock Options and Nonqualified Stock Options to executive officers. Through the different types of stock options offered, this plan enables executive officers to participate in the company's success and align their interests with those of the shareholders.