Nassau New York 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: Nassau
• 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 Nassau New York Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to grant employees of the company the opportunity to acquire stock options. This plan consists of two main types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). SOS are a type of stock option that is governed by specific tax rules outlined in the United States Internal Revenue Code. These options are generally granted to key employees and offer favorable tax treatment upon exercise and sale of the stock. The exercise price of SOS is typically set at the fair market value of the stock on the date of grant. SOS, on the other hand, are stock options that do not meet the requirements set forth by the Internal Revenue Code for SOS. While they do not offer the same tax advantages as SOS, SOS provide flexibility in terms of eligibility, excitability, and pricing. SOS can be granted to employees, directors, consultants, and other service providers. The Nassau New York Stock Option Plan allows eligible employees of Hayes Wheels International, Inc. to receive grants of both SOS and SOS. These stock options serve as a valuable incentive for employees to contribute to the company's success and align their interests with those of the shareholders. Grants are typically determined based on factors such as job performance, length of service, and position within the company. The plan includes provisions for vesting schedules, which define when employees can exercise their options and acquire company stock. Vesting periods may be time-based, where options become exercisable gradually over a specific period, or performance-based, where options vest based on meeting predetermined performance targets. Employees participating in the Nassau New York Stock Option Plan of Hayes Wheels International, Inc. have the opportunity to potentially benefit from the company's growth and success by purchasing stock at a predetermined price. As the company continues to thrive, employees can exercise their options and potentially realize a gain when the stock's value exceeds the exercise price. In conclusion, the Nassau New York Stock Option Plan of Hayes Wheels International, Inc. provides employees with the exciting opportunity to acquire both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). These options offer various tax advantages and flexibility, allowing employees to align themselves with the company's growth and success.

The Nassau New York Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to grant employees of the company the opportunity to acquire stock options. This plan consists of two main types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). SOS are a type of stock option that is governed by specific tax rules outlined in the United States Internal Revenue Code. These options are generally granted to key employees and offer favorable tax treatment upon exercise and sale of the stock. The exercise price of SOS is typically set at the fair market value of the stock on the date of grant. SOS, on the other hand, are stock options that do not meet the requirements set forth by the Internal Revenue Code for SOS. While they do not offer the same tax advantages as SOS, SOS provide flexibility in terms of eligibility, excitability, and pricing. SOS can be granted to employees, directors, consultants, and other service providers. The Nassau New York Stock Option Plan allows eligible employees of Hayes Wheels International, Inc. to receive grants of both SOS and SOS. These stock options serve as a valuable incentive for employees to contribute to the company's success and align their interests with those of the shareholders. Grants are typically determined based on factors such as job performance, length of service, and position within the company. The plan includes provisions for vesting schedules, which define when employees can exercise their options and acquire company stock. Vesting periods may be time-based, where options become exercisable gradually over a specific period, or performance-based, where options vest based on meeting predetermined performance targets. Employees participating in the Nassau New York Stock Option Plan of Hayes Wheels International, Inc. have the opportunity to potentially benefit from the company's growth and success by purchasing stock at a predetermined price. As the company continues to thrive, employees can exercise their options and potentially realize a gain when the stock's value exceeds the exercise price. In conclusion, the Nassau New York Stock Option Plan of Hayes Wheels International, Inc. provides employees with the exciting opportunity to acquire both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). These options offer various tax advantages and flexibility, allowing employees to align themselves with the company's growth and success.