Riverside 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: Riverside
• 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 Riverside California Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program that offers employees the opportunity to participate in the company's growth and success through stock ownership. This plan provides both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS), allowing employees to choose the option that best suits their individual needs and preferences. Under the Incentive Stock Option (ISO) component of the plan, eligible employees are granted stock options with specific tax advantages. SOS are subject to certain requirements defined by the Internal Revenue Code, empowering employees to enjoy potential tax savings when exercising their options. This component incentivizes employees to contribute to the long-term success of the company, aligning their interests with shareholders. On the other hand, the Nonqualified Stock Option (NO) component allows employees to purchase company stock at a predetermined price, regardless of any compliance with the Internal Revenue Code guidelines. While SOS do not offer the same tax advantages as SOS, they are more flexible and typically used to attract and retain key employees who may not meet the stringent criteria for ISO eligibility. The Riverside California Stock Option Plan recognizes the importance of rewarding employee dedication and performance. By granting stock options, Hayes Wheels International, Inc. aims to provide employees with a sense of ownership and align their interests with the company's long-term growth. This plan encourages employees to contribute actively toward achieving the organization's strategic goals and objectives, fostering a collaborative and motivated workforce. In summary, the Riverside California Stock Option Plan of Hayes Wheels International, Inc. offers two types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). These options enable employees to benefit from the company's success, incentivizing their commitment and aligning their interests with the organization's overall goals. Through this plan, Hayes Wheels International, Inc. aims to foster a strong employee ownership culture and drive continued growth.

The Riverside California Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program that offers employees the opportunity to participate in the company's growth and success through stock ownership. This plan provides both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS), allowing employees to choose the option that best suits their individual needs and preferences. Under the Incentive Stock Option (ISO) component of the plan, eligible employees are granted stock options with specific tax advantages. SOS are subject to certain requirements defined by the Internal Revenue Code, empowering employees to enjoy potential tax savings when exercising their options. This component incentivizes employees to contribute to the long-term success of the company, aligning their interests with shareholders. On the other hand, the Nonqualified Stock Option (NO) component allows employees to purchase company stock at a predetermined price, regardless of any compliance with the Internal Revenue Code guidelines. While SOS do not offer the same tax advantages as SOS, they are more flexible and typically used to attract and retain key employees who may not meet the stringent criteria for ISO eligibility. The Riverside California Stock Option Plan recognizes the importance of rewarding employee dedication and performance. By granting stock options, Hayes Wheels International, Inc. aims to provide employees with a sense of ownership and align their interests with the company's long-term growth. This plan encourages employees to contribute actively toward achieving the organization's strategic goals and objectives, fostering a collaborative and motivated workforce. In summary, the Riverside California Stock Option Plan of Hayes Wheels International, Inc. offers two types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). These options enable employees to benefit from the company's success, incentivizing their commitment and aligning their interests with the organization's overall goals. Through this plan, Hayes Wheels International, Inc. aims to foster a strong employee ownership culture and drive continued growth.