Wake North Carolina 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: Wake
• 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 Wake North Carolina Stock Option Plan is a comprehensive program that allows the granting of Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS) specifically to executive officers in Wake, North Carolina. This plan is designed to provide these executives with additional forms of compensation and incentives, allowing them to participate in the company's overall financial success. Under the Wake North Carolina Stock Option Plan, eligible executive officers may be offered SOS and SOS as part of their compensation package. Incentive Stock Options are granted with specific tax advantages and are subject to certain restrictions set forth by the Internal Revenue Code. These options can be highly valuable, as they may offer a lower tax burden upon exercise and a potential for long-term capital gains treatment upon sale of the underlying stock. On the other hand, Nonqualified Stock Options (SOS) are not subject to the same strict requirements as SOS. They provide executives with more flexibility in terms of eligibility and can be offered more broadly. However, SOS are generally subject to ordinary income tax rates upon exercise. It's important to note that these options are granted exclusively to executive officers as a means of recognizing their contribution to the company's success and motivating them to further enhance shareholder value. The specific terms and conditions of the Wake North Carolina Stock Option Plan, including vesting requirements, exercise periods, and stock option pricing, may vary based on the individual agreements and the company's overall compensation strategy. In conclusion, the Wake North Carolina Stock Option Plan offers two main types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). These options are granted exclusively to executive officers and serve as a valuable tool to reward and incentivize their contribution to the company's growth.

The Wake North Carolina Stock Option Plan is a comprehensive program that allows the granting of Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS) specifically to executive officers in Wake, North Carolina. This plan is designed to provide these executives with additional forms of compensation and incentives, allowing them to participate in the company's overall financial success. Under the Wake North Carolina Stock Option Plan, eligible executive officers may be offered SOS and SOS as part of their compensation package. Incentive Stock Options are granted with specific tax advantages and are subject to certain restrictions set forth by the Internal Revenue Code. These options can be highly valuable, as they may offer a lower tax burden upon exercise and a potential for long-term capital gains treatment upon sale of the underlying stock. On the other hand, Nonqualified Stock Options (SOS) are not subject to the same strict requirements as SOS. They provide executives with more flexibility in terms of eligibility and can be offered more broadly. However, SOS are generally subject to ordinary income tax rates upon exercise. It's important to note that these options are granted exclusively to executive officers as a means of recognizing their contribution to the company's success and motivating them to further enhance shareholder value. The specific terms and conditions of the Wake North Carolina Stock Option Plan, including vesting requirements, exercise periods, and stock option pricing, may vary based on the individual agreements and the company's overall compensation strategy. In conclusion, the Wake North Carolina Stock Option Plan offers two main types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). These options are granted exclusively to executive officers and serve as a valuable tool to reward and incentivize their contribution to the company's growth.