Hillsborough Florida Stock Option Plan of Hayes Wheels International, Inc., which provides for grant of Incentive Stock Options and Nonqualified Stock Options

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Hillsborough
• Control #: US-CC-18-345E
• Format: Word; Rich Text

Description

18-345E 18-345E . . . Stock Option Plan which provides for grant of Incentive Stock Options and Non-qualified Stock Options and (b) initial option grants to certain named officers, employees and consultants which contain specific Time Conditions and Performance Conditions as follows: number of shares underlying each option grant is divided into five equal portions which are designated Tranche A through Tranche E. Twenty percent of shares included in each of Tranches A through E shall satisfy Time Condition if optionee is employee or consultant on January 31, 1997 and on each January 31 thereafter. One hundred percent of shares included in each of Tranches A through E satisfy Performance Condition if average per share price of common stock for any consecutive twenty trading days on principal exchange on which common stock is traded equals or exceeds following prices: Tranche A - $16 per share, Tranche B - $32 per share, Tranche C - $48 per share, Tranche D - $64 per share, Tranche E - $80 per share. Notwithstanding above, Initial Grants become fully exercisable on ninth anniversary of date of grant The Hillsborough Florida Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to provide employees with the opportunity to acquire company stock through the granting of Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). This plan aims to incentivize and reward employees for their contributions and align their interests with the long-term success of the company. Incentive Stock Options (SOS) are one type of stock option granted under the Hillsborough Florida Stock Option Plan. These options are typically offered to key employees and executives and provide certain tax advantages to the recipients. SOS are subject to specific requirements outlined by the Internal Revenue Service (IRS) and can only be exercised within a designated period after a predetermined vesting schedule. Nonqualified Stock Options (SOS) are another type of stock option available under the plan. Unlike SOS, SOS are not subject to the same tax advantages and do not need to comply with the IRS requirements. They can be granted to employees at all levels within the company. SOS provide more flexibility in terms of exercising the options and can be exercised at any time within a specified timeframe. Hayes Wheels International, Inc. recognizes the importance of offering a diverse range of options to accommodate the varying needs and preferences of employees. By having both SOS and SOS as part of their Hillsborough Florida Stock Option Plan, the company ensures that all employees have an opportunity to participate in the program regardless of their position or role within the organization. Overall, the Hillsborough Florida Stock Option Plan of Hayes Wheels International, Inc. serves as a valuable tool for attracting, retaining, and motivating employees by providing them with a stake in the company's success. This plan underscores the company's commitment to aligning the interests of its employees with the long-term growth and profitability of the business.

The Hillsborough Florida Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to provide employees with the opportunity to acquire company stock through the granting of Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). This plan aims to incentivize and reward employees for their contributions and align their interests with the long-term success of the company. Incentive Stock Options (SOS) are one type of stock option granted under the Hillsborough Florida Stock Option Plan. These options are typically offered to key employees and executives and provide certain tax advantages to the recipients. SOS are subject to specific requirements outlined by the Internal Revenue Service (IRS) and can only be exercised within a designated period after a predetermined vesting schedule. Nonqualified Stock Options (SOS) are another type of stock option available under the plan. Unlike SOS, SOS are not subject to the same tax advantages and do not need to comply with the IRS requirements. They can be granted to employees at all levels within the company. SOS provide more flexibility in terms of exercising the options and can be exercised at any time within a specified timeframe. Hayes Wheels International, Inc. recognizes the importance of offering a diverse range of options to accommodate the varying needs and preferences of employees. By having both SOS and SOS as part of their Hillsborough Florida Stock Option Plan, the company ensures that all employees have an opportunity to participate in the program regardless of their position or role within the organization. Overall, the Hillsborough Florida Stock Option Plan of Hayes Wheels International, Inc. serves as a valuable tool for attracting, retaining, and motivating employees by providing them with a stake in the company's success. This plan underscores the company's commitment to aligning the interests of its employees with the long-term growth and profitability of the business.