King Washington 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: King
• 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 King Washington Stock Option Plan is an integral part of Hayes Wheels International, Inc.'s compensation package, offering employees the opportunity to acquire stock options in the company. The plan encompasses two types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Incentive Stock Options (SOS) are one type of stock option granted to eligible employees of Hayes Wheels International, Inc. These options possess various tax benefits for the employees, allowing them to potentially buy company stocks at a favorable price in the future. SOS can only be granted to employees, ensuring they have an enduring commitment and stake in the company's success. Granting SOS encourages loyalty, as they incentivize employees to remain with the company to reap the financial rewards. Nonqualified Stock Options (SOS) represent another category of stock option offered through the King Washington Stock Option Plan. SOS are available to eligible individuals, including not only employees but also consultants, directors, and other non-employee board members. Unlike SOS, SOS do not offer the same tax advantages. While SOS provide flexibility in terms of recipients, they are subject to different tax regulations and do not have the same level of loyalty-building potential as SOS. Hayes Wheels International, Inc. designed the King Washington Stock Option Plan to align employee and company interests while providing an additional method for compensation. The plan aims to motivate and reward employees by granting them the opportunity to become shareholders, fostering a sense of ownership, and creating a stronger bond between employees and the success of the company. By offering both Incentive Stock Options and Nonqualified Stock Options, the King Washington Stock Option Plan tailors to the diverse needs of employees and key personnel within Hayes Wheels International, Inc. While SOS promote long-term commitment and loyalty from employees, SOS extend the opportunity to external contributors and individuals who offer valuable services to the company on varying levels. Overall, the King Washington Stock Option Plan is a comprehensive initiative implemented by Hayes Wheels International, Inc. to attract, retain, and reward talent, while aligning their interests with the company's long-term growth and success.

The King Washington Stock Option Plan is an integral part of Hayes Wheels International, Inc.'s compensation package, offering employees the opportunity to acquire stock options in the company. The plan encompasses two types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Incentive Stock Options (SOS) are one type of stock option granted to eligible employees of Hayes Wheels International, Inc. These options possess various tax benefits for the employees, allowing them to potentially buy company stocks at a favorable price in the future. SOS can only be granted to employees, ensuring they have an enduring commitment and stake in the company's success. Granting SOS encourages loyalty, as they incentivize employees to remain with the company to reap the financial rewards. Nonqualified Stock Options (SOS) represent another category of stock option offered through the King Washington Stock Option Plan. SOS are available to eligible individuals, including not only employees but also consultants, directors, and other non-employee board members. Unlike SOS, SOS do not offer the same tax advantages. While SOS provide flexibility in terms of recipients, they are subject to different tax regulations and do not have the same level of loyalty-building potential as SOS. Hayes Wheels International, Inc. designed the King Washington Stock Option Plan to align employee and company interests while providing an additional method for compensation. The plan aims to motivate and reward employees by granting them the opportunity to become shareholders, fostering a sense of ownership, and creating a stronger bond between employees and the success of the company. By offering both Incentive Stock Options and Nonqualified Stock Options, the King Washington Stock Option Plan tailors to the diverse needs of employees and key personnel within Hayes Wheels International, Inc. While SOS promote long-term commitment and loyalty from employees, SOS extend the opportunity to external contributors and individuals who offer valuable services to the company on varying levels. Overall, the King Washington Stock Option Plan is a comprehensive initiative implemented by Hayes Wheels International, Inc. to attract, retain, and reward talent, while aligning their interests with the company's long-term growth and success.