Fairfax Virginia Amended and Restated Employee Stock Purchase Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Fairfax
• Control #: US-CC-19-179
• Format: Word; Rich Text

Description

19-179 19-179 . . . Employee Stock Purchase Plan under which each employee of corporation and its wholly-owned direct or indirect, domestic and foreign subsidiaries that have authorized participation in Plan (Participating Company) can contribute up to 15% of earnings through payroll deductions and Participating Company contributes a cash amount equal to 5% of participant's payroll deductions for first year of participation, additional 7% for second year, additional 10% for third year, additional 13% for fourth year and additional 15% for fifth year. Custodian of plan purchases shares of common stock on open market or from corporation at current market prices, using payroll deductions and applicable matching Company contributions The Fairfax Virginia Amended and Restated Employee Stock Purchase Plan is a comprehensive program designed to provide employees of Fairfax, Virginia-based companies with the opportunity to purchase company stock at a discounted price. This plan is an essential component of the overall employee benefits package and aims to align the interests of employees with the long-term success of the organization. The Fairfax Virginia Amended and Restated Employee Stock Purchase Plan operates on a periodic basis, typically offering several purchase periods throughout the year. During these designated periods, eligible employees can choose to contribute a portion of their pre-tax income to the plan, which will be used to purchase company stock at a discounted price. The plan offers various benefits to participants, including the ability to accumulate stocks over time, potential for capital appreciation, and an advantageous tax treatment. By enabling employees to become shareholders, the plan promotes a sense of ownership, fosters loyalty, and encourages active participation in the company's growth and success. There are different types of Fairfax Virginia Amended and Restated Employee Stock Purchase Plans available, tailored to meet the needs and preferences of employees. These may include: 1. Standard Employee Stock Purchase Plan: This plan allows employees to buy shares at a discounted price, typically up to a certain percentage of their eligible compensation. 2. Rolling Enrollment Plan: This type of plan enables employees to enroll and make stock purchases at specified intervals throughout the year, providing flexibility and convenience. 3. Look-Back Plan: With this plan, employees can purchase shares at a discounted price based on the lower of two values: the stock price on the first day or the last day of the purchase period. This offers potential for enhanced savings. 4. Controlled Purchase Plan: In a controlled purchase plan, the company may limit the number of shares an employee can purchase during a specific purchase period, ensuring fairness and preventing stock concentration in any one employee's hands. 5. Graduated Purchase Plan: This plan allows employees to gradually increase their contributions over time, giving them the opportunity to increase their ownership stake in the company. In summary, the Fairfax Virginia Amended and Restated Employee Stock Purchase Plan is a flexible and beneficial program that offers employees the chance to purchase company stock at a discounted price. It encompasses various plan types, allowing employees to choose the option that best suits their financial goals and circumstances. By participating in this plan, employees can become shareholders, align their interests with the success of the organization, and potentially benefit from capital appreciation over time.

The Fairfax Virginia Amended and Restated Employee Stock Purchase Plan is a comprehensive program designed to provide employees of Fairfax, Virginia-based companies with the opportunity to purchase company stock at a discounted price. This plan is an essential component of the overall employee benefits package and aims to align the interests of employees with the long-term success of the organization. The Fairfax Virginia Amended and Restated Employee Stock Purchase Plan operates on a periodic basis, typically offering several purchase periods throughout the year. During these designated periods, eligible employees can choose to contribute a portion of their pre-tax income to the plan, which will be used to purchase company stock at a discounted price. The plan offers various benefits to participants, including the ability to accumulate stocks over time, potential for capital appreciation, and an advantageous tax treatment. By enabling employees to become shareholders, the plan promotes a sense of ownership, fosters loyalty, and encourages active participation in the company's growth and success. There are different types of Fairfax Virginia Amended and Restated Employee Stock Purchase Plans available, tailored to meet the needs and preferences of employees. These may include: 1. Standard Employee Stock Purchase Plan: This plan allows employees to buy shares at a discounted price, typically up to a certain percentage of their eligible compensation. 2. Rolling Enrollment Plan: This type of plan enables employees to enroll and make stock purchases at specified intervals throughout the year, providing flexibility and convenience. 3. Look-Back Plan: With this plan, employees can purchase shares at a discounted price based on the lower of two values: the stock price on the first day or the last day of the purchase period. This offers potential for enhanced savings. 4. Controlled Purchase Plan: In a controlled purchase plan, the company may limit the number of shares an employee can purchase during a specific purchase period, ensuring fairness and preventing stock concentration in any one employee's hands. 5. Graduated Purchase Plan: This plan allows employees to gradually increase their contributions over time, giving them the opportunity to increase their ownership stake in the company. In summary, the Fairfax Virginia Amended and Restated Employee Stock Purchase Plan is a flexible and beneficial program that offers employees the chance to purchase company stock at a discounted price. It encompasses various plan types, allowing employees to choose the option that best suits their financial goals and circumstances. By participating in this plan, employees can become shareholders, align their interests with the success of the organization, and potentially benefit from capital appreciation over time.