Wayne Michigan Stock Option Agreement of Full House Resorts, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Wayne
• Control #: US-CC-18-363D
• Format: Word; Rich Text

Description

18-363D 18-363D . . . Stock Option Agreement under which corporation grants to optionee a Non-qualified Option to acquire 50,000 shares of stock immediately and an additional 50,000 shares on each of the next four anniversaries of the date of grant. The options become fully exercisable upon a change of control and they expire 5 years from the date of grant or 90 days after the optionee ceases to be a director Wayne Michigan Stock Option Agreement is a legal document that outlines the terms and conditions under which employees of Full House Resorts, Inc., a prominent gaming and entertainment company, are granted the option to purchase company stocks at a predetermined price within a specified time frame. This agreement serves as a key component of Full House Resorts' employee compensation and retention strategy, providing employees with the opportunity to be stakeholders in the company's success. The Wayne Michigan Stock Option Agreement of Full House Resorts, Inc., offers several types of stock options, each with its own set of features and benefits. These options include: 1. Non-Qualified Stock Options: This type of option does not meet specific IRS tax requirements and is subject to ordinary income tax rates upon exercise. However, it allows employees to purchase company stocks at the strike price agreed upon in the agreement, regardless of the current market value. 2. Incentive Stock Options: These options are qualified under IRS regulations and offer potential tax advantages for employees. If certain requirements are met, employees can treat the option as a capital gain rather than ordinary income. Incentive Stock Options typically have a longer vesting period and stricter eligibility criteria. 3. Restricted Stock Units (RSS): In addition to stock options, Full House Resorts may offer RSS as an alternative form of equity compensation. RSS represents a promise to deliver company stocks at a future date or upon the occurrence of specific conditions, such as achieving performance goals or remaining with the company for a predetermined period. 4. Performance-Based Stock Options: This type of option grants employees the right to purchase shares at a specific price if certain performance criteria are met. These criteria are typically based on the company's financial or operational performance, ensuring that employees are rewarded for contributing to the company's success. The Wayne Michigan Stock Option Agreement of Full House Resorts, Inc., carefully details the terms governing the exercise, vesting schedule, expiration date, and restrictions of each type of stock option offered. It also clarifies the rights and obligations of both the employee and the company, ensuring transparency and adherence to legal requirements. Overall, the Wayne Michigan Stock Option Agreement plays a crucial role in attracting and retaining talented employees by offering them a financial stake in the company's growth and success. It aligns the interests of employees with that of Full House Resorts, promoting a culture of ownership and shared goals.

Wayne Michigan Stock Option Agreement is a legal document that outlines the terms and conditions under which employees of Full House Resorts, Inc., a prominent gaming and entertainment company, are granted the option to purchase company stocks at a predetermined price within a specified time frame. This agreement serves as a key component of Full House Resorts' employee compensation and retention strategy, providing employees with the opportunity to be stakeholders in the company's success. The Wayne Michigan Stock Option Agreement of Full House Resorts, Inc., offers several types of stock options, each with its own set of features and benefits. These options include: 1. Non-Qualified Stock Options: This type of option does not meet specific IRS tax requirements and is subject to ordinary income tax rates upon exercise. However, it allows employees to purchase company stocks at the strike price agreed upon in the agreement, regardless of the current market value. 2. Incentive Stock Options: These options are qualified under IRS regulations and offer potential tax advantages for employees. If certain requirements are met, employees can treat the option as a capital gain rather than ordinary income. Incentive Stock Options typically have a longer vesting period and stricter eligibility criteria. 3. Restricted Stock Units (RSS): In addition to stock options, Full House Resorts may offer RSS as an alternative form of equity compensation. RSS represents a promise to deliver company stocks at a future date or upon the occurrence of specific conditions, such as achieving performance goals or remaining with the company for a predetermined period. 4. Performance-Based Stock Options: This type of option grants employees the right to purchase shares at a specific price if certain performance criteria are met. These criteria are typically based on the company's financial or operational performance, ensuring that employees are rewarded for contributing to the company's success. The Wayne Michigan Stock Option Agreement of Full House Resorts, Inc., carefully details the terms governing the exercise, vesting schedule, expiration date, and restrictions of each type of stock option offered. It also clarifies the rights and obligations of both the employee and the company, ensuring transparency and adherence to legal requirements. Overall, the Wayne Michigan Stock Option Agreement plays a crucial role in attracting and retaining talented employees by offering them a financial stake in the company's growth and success. It aligns the interests of employees with that of Full House Resorts, promoting a culture of ownership and shared goals.