Los Angeles California 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: Los Angeles
• 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 Los Angeles California Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to provide employees with the opportunity to receive Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). This plan aims to incentivize and reward employees for their loyalty, commitment, and contribution to the company's success. Under the plan, Hayes Wheels International, Inc. offers two different types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). 1. Incentive Stock Options (SOS): SOS are typically granted to employees at a discounted price and come with certain tax advantages. These options can only be granted to employees, and they must be exercised within a specified time frame. SOS are subject to various rules and limitations imposed by the Internal Revenue Service (IRS), such as a maximum option term of 10 years. 2. Nonqualified Stock Options (SOS): SOS do not have the same tax advantages as SOS. Unlike SOS, SOS can be granted to both employees and non-employee directors, consultants, and contractors. SOS offer more flexibility in terms of exercise price and expiration dates. However, the income obtained from exercising SOS is subject to applicable income taxes. Hayes Wheels International, Inc. understands that stock options can be a valuable tool to attract and retain talented individuals. By offering both SOS and SOS, the company ensures that it can cater to the diverse needs and preferences of its employees and other eligible individuals. Through the Los Angeles California Stock Option Plan, Hayes Wheels International, Inc. seeks to align the interests of its employees and stakeholders by enabling them to share in the company's success through the ownership of company stock. This not only provides financial rewards but also fosters a sense of ownership and commitment among participants. In conclusion, the Los Angeles California Stock Option Plan of Hayes Wheels International, Inc. offers the opportunity for employees and eligible individuals to receive Incentive Stock Options and Nonqualified Stock Options. The plan aims to incentivize and reward participants for their contributions while aligning their interests with the company's success.

The Los Angeles California Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to provide employees with the opportunity to receive Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). This plan aims to incentivize and reward employees for their loyalty, commitment, and contribution to the company's success. Under the plan, Hayes Wheels International, Inc. offers two different types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). 1. Incentive Stock Options (SOS): SOS are typically granted to employees at a discounted price and come with certain tax advantages. These options can only be granted to employees, and they must be exercised within a specified time frame. SOS are subject to various rules and limitations imposed by the Internal Revenue Service (IRS), such as a maximum option term of 10 years. 2. Nonqualified Stock Options (SOS): SOS do not have the same tax advantages as SOS. Unlike SOS, SOS can be granted to both employees and non-employee directors, consultants, and contractors. SOS offer more flexibility in terms of exercise price and expiration dates. However, the income obtained from exercising SOS is subject to applicable income taxes. Hayes Wheels International, Inc. understands that stock options can be a valuable tool to attract and retain talented individuals. By offering both SOS and SOS, the company ensures that it can cater to the diverse needs and preferences of its employees and other eligible individuals. Through the Los Angeles California Stock Option Plan, Hayes Wheels International, Inc. seeks to align the interests of its employees and stakeholders by enabling them to share in the company's success through the ownership of company stock. This not only provides financial rewards but also fosters a sense of ownership and commitment among participants. In conclusion, the Los Angeles California Stock Option Plan of Hayes Wheels International, Inc. offers the opportunity for employees and eligible individuals to receive Incentive Stock Options and Nonqualified Stock Options. The plan aims to incentivize and reward participants for their contributions while aligning their interests with the company's success.