Suffolk New York Eligible Directors' Stock Option Plan of Wyle Electronics

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Suffolk
• Control #: US-CC-18-362C
• Format: Word; Rich Text

Description

18-362C 18-362C . . . Eligible Directors' Stock Option Plan under which (a) each outside director who was in office on October 1, 1996 was granted, subject to stockholder approval of Plan, option to purchase 4,000 shares of stock and each outside director who first takes office after October 1, 1996 will receive a one-time initial option to purchase 10,000 shares of stock, and (b) each outside director in office on October 1, 1996 will be granted an option on April 1 of each year commencing in 1997 to purchase 4,000 shares of stock provided he or she is in office on date of grant, and each outside director who takes office after October 1, 1996 will be granted an option on April 1 of each year to purchase 6,000 shares of stock provided he or she is in office on date of grant. Exercise price of all options is fair market value on date of grant. All options are exercisable six months after date of grant

The Suffolk New York Eligible Directors' Stock Option Plan of Kyle Electronics is a comprehensive program designed to provide eligible directors in Suffolk County, New York, with stock options as part of their compensation package. This arrangement aims to incentivize directors and align their interests with those of the company's shareholders. Under this plan, eligible directors of Kyle Electronics in Suffolk County, New York, are granted the opportunity to purchase company stock at a predetermined price within a specified period. These stock options are typically awarded as part of the director's overall compensation and are subject to certain terms and conditions. The Suffolk New York Eligible Directors' Stock Option Plan serves as a valuable tool for attracting and retaining highly qualified and experienced directors. By offering the possibility of owning company stock, Kyle Electronics seeks to engage its board members in long-term strategic decision-making and foster a sense of ownership and commitment to the company's success. There may be different variations or types of the Suffolk New York Eligible Directors' Stock Option Plan designed for different categories of directors. These categories might include executive directors, non-executive directors, independent directors, or outside directors. Each specific type of plan may have slightly different features and eligibility criteria tailored to suit the role and responsibilities of the director. In summary, the Suffolk New York Eligible Directors' Stock Option Plan of Kyle Electronics provides eligible directors in Suffolk County, New York, with the opportunity to acquire company stock through stock options. It encourages alignment between directors and shareholders while attracting and retaining top talent in the organization. Different types of this plan may exist to accommodate various categories of directors based on their roles and responsibilities within the company.