The Nassau New York Amended and Restated Stock Option Plan of L. Luria and Son, Inc. is a comprehensive document that outlines the terms and conditions of stock options offered to employees of the company. This plan is designed to provide an attractive incentive for employees, align their interests with the company's success, and promote long-term commitment and dedication. The Nassau New York Amended and Restated Stock Option Plan provides various types of stock options to eligible employees based on their roles, responsibilities, and tenure within the organization. Some key types of stock options available in this plan are: 1. Incentive Stock Options (SOS): SOSOs are granted with favorable tax treatment and are intended to encourage employees to remain with the company for an extended period. SOSOs can only be granted to employees who meet certain eligibility criteria. — They provide the right to purchase company stock at a predetermined exercise price within a specific time frame. 2. Non-Qualified Stock Options (Nests): NestsOs are more flexible than ISOs and do not come with the same tax advantages. — They are available to a broader range of employees, including independent contractors and consultants. NestsOs allow the employees to purchase company stock at a predetermined exercise price for a specific period. 3. Restricted Stock Units (RSS): RSSUs are another type of stock-based compensation offered under this plan. RSSUs are typically granted as a promise to deliver company stock at a future date, subject to certain conditions and vesting periods. — Unlike stock optionsRSSUs do not require any upfront purchase, but the employee receives company stock directly after the vesting period ends. The Nassau New York Amended and Restated Stock Option Plan includes detailed provisions regarding the grant, exercise, transferability, and termination of stock options. It also specifies the conditions under which stock options can be forfeited and the circumstances in which employees may exercise their options. This plan is crucial in attracting and retaining talented individuals, as well as encouraging their long-term commitment to the success of L. Luria and Son, Inc. It ensures a fair and transparent structure for stock-based compensation, aligning the interests of employees with those of the company and its shareholders.
Nassau New York Amended and Restated Stock Option Plan of L. Luria and Son, Inc.
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