The Harris Texas Stock Option Plan of Sunrise Assisted Living, Inc. is a comprehensive program designed to grant Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS) to eligible individuals such as employees, consultants, and advisers. This plan offers attractive opportunities for these individuals to acquire company stock, thereby aligning their interests with the overall success of the organization. Under the Harris Texas Stock Option Plan, there are two main types of stock options that can be granted: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). These options differ in their tax implications and eligibility requirements. 1. Incentive Stock Options (SOS): SOS are stock options granted to employees that provide certain tax advantages. Key features of the SOS offered under the Harris Texas Stock Option Plan include: SOSOs can only be granted to employees of Sunrise Assisted Living, Inc. — The exercise pricsolosOs is usually set at the fair market value of the stock on the grant date. SOSOs have specific holding requirements to qualify for favorable tax treatment, typically necessitating a minimum holding period of one year after exercise and two years after the option grant date. — Upon meeting the holding period requirements, profits from the sale of ISO shares may qualify for favorable capital gains tax treatment. 2. Nonqualified Stock Options (SOS): SOS are stock options that do not qualify for the special tax treatment associated with SOS. Key features of the SOS offered under the Harris Texas Stock Option plan include: SOSOs can be granted to employees, consultants, and advisers, allowing a broader range of individuals to participate in the program. — The exercise pricsolosOs is typically determined at the discretion of Sunrise Assisted Living, Inc., but it is usually set at the fair market value of the stock on the grant date. SOSOs do not carry specific holding requirements, providing greater flexibility for option holders in terms of exercising and selling their shares. — Profits from thsadnessSO shares are generally subject to ordinary income tax rates. Overall, the Harris Texas Stock Option Plan aims to motivate and reward employees, consultants, and advisers by giving them the opportunity to become stakeholders in Sunrise Assisted Living, Inc. Through the granting of Incentive Stock Options and Nonqualified Stock Options, eligible individuals can actively participate in the company's success and potentially benefit from stock price appreciation.
Harris Texas Stock Option Plan of Sunrise Assisted Living, Inc., for grant of Incentive Stock Options and Nonqualified Stock Options to employees, consultants and advisers
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