Travis Texas Stock Option Plan Stock Option Plan which provides for grant of Incentive Stock Options, Nonqualified Stock Options, and Exchange Options

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Travis
• Control #: US-CC-18-219B
• Format: Word; Rich Text

Description

18-219B 18-219B . . . Stock Option Plan which provides for grant of Incentive Stock Options, (b) Non-qualified Stock Options, and (c) Exchange Options under which employees of the corporation or any of its subsidiaries can exchange (i) all of their options for shares of a subsidiary that were granted under that subsidiary's stock option plan and are outstanding as of the date of adoption of this Plan and all their awards under that subsidiary's Restricted Stock Plan for restricted shares of that subsidiary's stock that are outstanding as of the date of adoption of this Plan and receive therefor non-qualified options for shares under this Plan, (ii) all of their restricted shares of a subsidiary that were issued under the subsidiary's Performance Restricted Stock Plan and receive therefor non-qualified options for shares under this Plan, and (iii) all of their stock appreciation rights with respect to shares of a subsidiary that were granted under that subsidiary's Stock Appreciation Rights Plan and receive therefor non-qualified options for shares under this Plan Travis Texas Stock Option Plan (TOP) is a comprehensive and flexible stock option plan implemented by Travis Texas, a leading technology company based in Texas. TOP is designed to provide various types of stock options to eligible employees as part of their compensation package. With a focus on incentivizing and rewarding employee performance, TOP offers Incentive Stock Options (SOS), Nonqualified Stock Options (SOS), and Exchange Options. 1. Incentive Stock Options (SOS): SOS are a type of stock option that provide certain tax advantages to eligible employees. These options are typically granted at a discounted price and can only be exercised after a specific vesting period, as determined by the plan. Employees who hold SOS may enjoy a lower tax liability upon exercising their options, assuming they meet the required holding period and other qualifying criteria. 2. Nonqualified Stock Options (SOS): SOS are a more flexible type of stock option that can be granted to both employees and non-employee directors. Unlike SOS, SOS do not have the same tax advantages, but they offer more flexibility in terms of exercise price and vesting schedule. This type of stock option can be exercised at any time, subject to the terms and conditions outlined in the TOP. 3. Exchange Options: Exchange Options, also known as Reload Options or Reload Grants, are a unique feature of the Travis Texas Stock Option Plan. These options are granted to employees who have already exercised their initial stock options and want to extend their ability to participate further in the company's growth. By exercising an Exchange Option, employees can receive additional stock options at a predetermined price, usually established at fair market value, allowing them to continue benefiting from the company's success. Travis Texas Stock Option Plan aims to attract and retain top talent by offering a comprehensive range of stock options. By providing both SOS and SOS, the plan caters to different employee preferences and circumstances. Additionally, the inclusion of Exchange Options ensures that employees who have already shown commitment and contributed to the company's growth can continue to participate and reap the rewards of success. Through this versatile stock option plan, Travis Texas offers a valuable component of its compensation package, fostering employee loyalty and motivation while aligning their interests with the company's long-term goals.

Travis Texas Stock Option Plan (TOP) is a comprehensive and flexible stock option plan implemented by Travis Texas, a leading technology company based in Texas. TOP is designed to provide various types of stock options to eligible employees as part of their compensation package. With a focus on incentivizing and rewarding employee performance, TOP offers Incentive Stock Options (SOS), Nonqualified Stock Options (SOS), and Exchange Options. 1. Incentive Stock Options (SOS): SOS are a type of stock option that provide certain tax advantages to eligible employees. These options are typically granted at a discounted price and can only be exercised after a specific vesting period, as determined by the plan. Employees who hold SOS may enjoy a lower tax liability upon exercising their options, assuming they meet the required holding period and other qualifying criteria. 2. Nonqualified Stock Options (SOS): SOS are a more flexible type of stock option that can be granted to both employees and non-employee directors. Unlike SOS, SOS do not have the same tax advantages, but they offer more flexibility in terms of exercise price and vesting schedule. This type of stock option can be exercised at any time, subject to the terms and conditions outlined in the TOP. 3. Exchange Options: Exchange Options, also known as Reload Options or Reload Grants, are a unique feature of the Travis Texas Stock Option Plan. These options are granted to employees who have already exercised their initial stock options and want to extend their ability to participate further in the company's growth. By exercising an Exchange Option, employees can receive additional stock options at a predetermined price, usually established at fair market value, allowing them to continue benefiting from the company's success. Travis Texas Stock Option Plan aims to attract and retain top talent by offering a comprehensive range of stock options. By providing both SOS and SOS, the plan caters to different employee preferences and circumstances. Additionally, the inclusion of Exchange Options ensures that employees who have already shown commitment and contributed to the company's growth can continue to participate and reap the rewards of success. Through this versatile stock option plan, Travis Texas offers a valuable component of its compensation package, fostering employee loyalty and motivation while aligning their interests with the company's long-term goals.