Chicago Illinois Stock Incentive Plan of Ambase Corp.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• City: Chicago
• Control #: US-CC-18-350A
• Format: Word; Rich Text

Description

18-350A 18-350A . . . Stock Incentive Plan which provides for issuance of (a) incentive stock options, (b) Non-qualified Stock Options, (c) stock appreciation rights, (d) restricted stock, (e) unrestricted stock, and (f) performance shares. The Plan permits optionees to pay exercise price of options (i) in cash, (ii) in shares of corporation common stock already owned by optionee, (iii) with combination of cash and shares, (iv) by "pyramiding" shares or (v) by effecting a "cashless exercise". "Pyramiding" is technique whereby optionee requests issuer to automatically apply portion of shares received upon exercise of stock option to satisfy exercise price of additional stock options, resulting in multiple simultaneous exercises of options by use of shares as payment. A "cashless exercise" is technique which allows optionee to exercise stock options without cash through assistance of broker through either simultaneous exercise and sale or broker loan The Chicago Illinois Stock Incentive Plan of Abase Corp. is a comprehensive compensation program that provides employees with an opportunity to acquire ownership interests in the company, thereby aligning their interests with the long-term success of Abase Corp. This incentive plan is designed to attract, motivate, and retain talented individuals who contribute significantly to the company's growth and profitability. Under the Chicago Illinois Stock Incentive Plan, eligible employees are granted stock options, restricted stock units (RSS), performance shares, or other equity-based awards. These awards are a reflection of an employee's performance, position, and contribution to the company's objectives. They are usually subject to vesting periods, which means that employees need to fulfill specific conditions, such as remaining employed for a certain period, achieving performance goals, or meeting specific objectives before gaining full ownership of the awarded shares. Types of Stock Incentive Plan under the Abase Corp. Chicago Illinois program may include the following: 1. Stock Options: Stock options grant employees the right to purchase company shares at a predetermined price, known as the exercise price or strike price. There are two types of stock options — non-qualified stock optionsNestsOs) and incentive stock options (SOS). Nests are more common and have more flexibility in terms of eligibility, exercise price, and taxation. 2. Restricted Stock Units (RSS): RSS are grants of company shares that are subject to a vesting schedule. Once the RSS vest, employees receive the underlying shares or their cash equivalent based on the current market price. RSS offers a straightforward structure that helps retain employees, as their value is tied directly to the company's stock performance. 3. Performance Shares: Performance shares are awards granted to employees based on the achievement of specific performance goals, such as financial targets, market share growth, or other predetermined metrics. These shares vest only when the performance goals are met, serving as a strong motivator for employees to strive for excellence and align their efforts with Abase Corp.'s objectives. 4. Restricted Stock Awards (SAS): SAS provide employees with shares that are immediately owned but subject to vesting conditions, such as continued employment or achieving specific milestones. Unlike RSS, SAS provide immediate ownership of the awarded shares, which can be beneficial for employees as they may receive dividends and have voting rights. Through the Chicago Illinois Stock Incentive Plan, Abase Corp. aims to enhance employee engagement, foster a sense of ownership, and reward their valuable contributions to the company's success. This comprehensive compensation program offers various types of equity-based awards tailored to the needs of different employee levels, encouraging a high-performance culture within the organization.

The Chicago Illinois Stock Incentive Plan of Abase Corp. is a comprehensive compensation program that provides employees with an opportunity to acquire ownership interests in the company, thereby aligning their interests with the long-term success of Abase Corp. This incentive plan is designed to attract, motivate, and retain talented individuals who contribute significantly to the company's growth and profitability. Under the Chicago Illinois Stock Incentive Plan, eligible employees are granted stock options, restricted stock units (RSS), performance shares, or other equity-based awards. These awards are a reflection of an employee's performance, position, and contribution to the company's objectives. They are usually subject to vesting periods, which means that employees need to fulfill specific conditions, such as remaining employed for a certain period, achieving performance goals, or meeting specific objectives before gaining full ownership of the awarded shares. Types of Stock Incentive Plan under the Abase Corp. Chicago Illinois program may include the following: 1. Stock Options: Stock options grant employees the right to purchase company shares at a predetermined price, known as the exercise price or strike price. There are two types of stock options — non-qualified stock optionsNestsOs) and incentive stock options (SOS). Nests are more common and have more flexibility in terms of eligibility, exercise price, and taxation. 2. Restricted Stock Units (RSS): RSS are grants of company shares that are subject to a vesting schedule. Once the RSS vest, employees receive the underlying shares or their cash equivalent based on the current market price. RSS offers a straightforward structure that helps retain employees, as their value is tied directly to the company's stock performance. 3. Performance Shares: Performance shares are awards granted to employees based on the achievement of specific performance goals, such as financial targets, market share growth, or other predetermined metrics. These shares vest only when the performance goals are met, serving as a strong motivator for employees to strive for excellence and align their efforts with Abase Corp.'s objectives. 4. Restricted Stock Awards (SAS): SAS provide employees with shares that are immediately owned but subject to vesting conditions, such as continued employment or achieving specific milestones. Unlike RSS, SAS provide immediate ownership of the awarded shares, which can be beneficial for employees as they may receive dividends and have voting rights. Through the Chicago Illinois Stock Incentive Plan, Abase Corp. aims to enhance employee engagement, foster a sense of ownership, and reward their valuable contributions to the company's success. This comprehensive compensation program offers various types of equity-based awards tailored to the needs of different employee levels, encouraging a high-performance culture within the organization.