Pima Arizona Nonqualified Stock Option Agreement of Orion Network Systems, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Pima
• Control #: US-CC-18-364B
• Format: Word; Rich Text

Description

18-364B 18-364B . . . 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 upon successful completion of a Notes offering and the refinancing of the corporation's obligations under a Credit Agreement The Lima Arizona Nonqualified Stock Option Agreement of Orion Network Systems, Inc. is a legally binding document that outlines the terms and conditions governing the issuance of nonqualified stock options to eligible employees or individuals associated with Orion Network Systems, Inc. Nonqualified stock options provide recipients the right to purchase company shares at a predetermined strike price within a specified timeframe. Orion Network Systems, Inc. is a prominent technology company based in Lima, Arizona, known for providing cutting-edge networking solutions to businesses across various industries. As part of their compensation and incentive program, the company offers different types of nonqualified stock option agreements to its employees. Some examples include: 1. Employee Stock Option Plan (ESOP): The ESOP is primarily designed for employees of Orion Network Systems, Inc. It allows eligible employees to purchase company stocks at a specified price, usually lower than the market value, within a set period. This type of agreement aims to align employee interests with the company's success and encourage long-term commitment. 2. Director Stock Option Plan: The Director Stock Option Plan offers stock options to members of the board of directors at Orion Network Systems, Inc. Directors have the opportunity to purchase company shares at a predetermined price, enabling them to share in the company's growth and success. This plan serves as a valuable incentive to attract and retain top talent on the board. 3. Consultant or Contractor Stock Option Agreement: Orion Network Systems, Inc. may extend nonqualified stock options to consultants or contractors who provide services to the company. This type of agreement allows these individuals to purchase company stocks as a form of compensation, aligning their interests with the company's goals. The Lima Arizona Nonqualified Stock Option Agreement encompasses various provisions, including the number of stock options granted, vesting terms, exercise price, exercise period, and any restrictions or conditions upon exercise. It aims to establish a mutually beneficial relationship between Orion Network Systems, Inc. and its employees, directors, or consultants by providing them with an opportunity to benefit from the company's success. It is important to note that this description provides a general overview and should not substitute for professional legal advice.

The Lima Arizona Nonqualified Stock Option Agreement of Orion Network Systems, Inc. is a legally binding document that outlines the terms and conditions governing the issuance of nonqualified stock options to eligible employees or individuals associated with Orion Network Systems, Inc. Nonqualified stock options provide recipients the right to purchase company shares at a predetermined strike price within a specified timeframe. Orion Network Systems, Inc. is a prominent technology company based in Lima, Arizona, known for providing cutting-edge networking solutions to businesses across various industries. As part of their compensation and incentive program, the company offers different types of nonqualified stock option agreements to its employees. Some examples include: 1. Employee Stock Option Plan (ESOP): The ESOP is primarily designed for employees of Orion Network Systems, Inc. It allows eligible employees to purchase company stocks at a specified price, usually lower than the market value, within a set period. This type of agreement aims to align employee interests with the company's success and encourage long-term commitment. 2. Director Stock Option Plan: The Director Stock Option Plan offers stock options to members of the board of directors at Orion Network Systems, Inc. Directors have the opportunity to purchase company shares at a predetermined price, enabling them to share in the company's growth and success. This plan serves as a valuable incentive to attract and retain top talent on the board. 3. Consultant or Contractor Stock Option Agreement: Orion Network Systems, Inc. may extend nonqualified stock options to consultants or contractors who provide services to the company. This type of agreement allows these individuals to purchase company stocks as a form of compensation, aligning their interests with the company's goals. The Lima Arizona Nonqualified Stock Option Agreement encompasses various provisions, including the number of stock options granted, vesting terms, exercise price, exercise period, and any restrictions or conditions upon exercise. It aims to establish a mutually beneficial relationship between Orion Network Systems, Inc. and its employees, directors, or consultants by providing them with an opportunity to benefit from the company's success. It is important to note that this description provides a general overview and should not substitute for professional legal advice.