Mecklenburg North Carolina Stock Option and Award Plan of Amresco, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Mecklenburg
• Control #: US-CC-18-323
• Format: Word; Rich Text

Description

18-323 18-323 . . . Stock Option and Award Plan under which Committee can grant (a) Incentive Stock Options and Non-qualified Stock Options to persons other that outside directors, (b) Non-qualified Stock Options to outside directors (15,000 shares on his or her date of election or appointment and 15,000 shares every three years upon his or her re-election), (c) Restricted Stock, and (d) Performance Shares which have value equal to fair market value of share of stock on date Performance Share is earned. Committee sets performance goals which, depending on extent to which they are met, will determine number of Performance Shares that will be earned by Participants. Committee uses one or more of following performance measures for purposes of grants of Performance Shares: total stockholder return, return on assets, return on equity, earnings per share, and ratio of operating overhead to operating revenues

The Mecklenburg North Carolina Stock Option and Award Plan (Plan) introduced by Fresco, Inc. offers various forms of compensation to its employees and key personnel, encouraging their long-term commitment and dedication to the company's success. This highly competitive incentive program aims to attract and retain talented professionals, aligning their interests with that of the company and shareholders. The plan allows eligible participants to receive stock options and awards based on specific criteria and performance metrics. Fresco, Inc.'s Stock Option and Award Plan consists of several types of awards designed to suit different employee levels and objectives: 1. Stock Options: This category includes both non-qualified stock options and incentive stock options (SOS). These grants provide the option holder the right to purchase a specified number of shares of Fresco, Inc. stock at a predetermined price, known as the exercise price or strike price. The exercise period is typically over a specific duration, offering participants the opportunity to benefit from any increase in the company's stock price during the designated timeframe. 2. Restricted Stock Units (RSS): RSS are awards that grant employees the right to receive shares of Fresco, Inc.'s stock upon meeting specific vesting conditions. The shares are generally subject to a vesting schedule, often tied to the employee's length of service, performance goals, or a combination of both. Once vested, the RSS convert into actual company stock. 3. Performance Stock Units (Plus): This type of award links the vesting and payout of stock units to the achievement of predetermined performance goals or targets set by Fresco, Inc. These goals may be related to financial metrics, market share, revenue growth, or other key performance indicators. Upon successful attainment of these objectives, participants receive a specified number of shares as determined by the Plan. 4. Restricted Stock Awards: These grants involve the direct issuance of shares to eligible participants, subject to certain restrictions and provisions specified in the Plan. The shares typically undergo a vesting period, during which they may be forfeited if the employee does not meet the specified conditions. Once vested, the shares become fully owned by the participants. It’s important to note that the exact details and provisions of the Mecklenburg North Carolina Stock Option and Award Plan may vary depending on the specific terms and conditions set forth by Fresco, Inc. and the applicable regulatory requirements. Employees and key personnel are encouraged to thoroughly review the Plan's guidelines and consult with their legal or financial advisors to fully understand the stock option and award program, its implications, and potential benefits.