California Amended and Restated Stock Option Plan of Continental Materials Corp.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-208H
• Format: Word; Rich Text

Description

18-208H 18-208H . . . Non-qualified Stock Option Plan under which committee can award reload stock options (Non-qualified Stock Options which (i) are awarded automatically upon exercise of stock option granted under Plan where option price is paid by optionee's delivery of previously owned shares of common stock, and (ii) entitle such optionee to purchase number of shares so delivered for option price equal to fair market value of a share of common stock on date original option was exercised). Plan provides that if optionee or any other person who acquires options by bequest or inheritance or by reason of his or her death proposes to sell, transfer, or otherwise dispose of shares acquired upon exercise, corporation shall have prior right to purchase all or any part of such shares at market price

The California Amended and Restated Stock Option Plan of Continental Materials Corp. is a comprehensive program designed to offer certain employees of the company the opportunity to purchase shares of the company's stock at a predetermined price. This plan aims to incentivize and retain talented employees while aligning their interests with the long-term success and growth of the company. The California Amended and Restated Stock Option Plan allows employees to acquire stock options, which can be exercised over a specified time period. These options are typically granted as part of an employee's compensation package, rewarding their contributions to the company's overall performance. There are several types of stock options included in the California Amended and Restated Stock Option Plan of Continental Materials Corp.: 1. Incentive Stock Options (SOS): SOS are intended to provide favorable tax treatment to employees. These options typically have strict eligibility criteria, including offering options only to employees and limiting the exercise price to no less than the stock's fair market value on the grant date. 2. Non-Qualified Stock Options (Nests): Nests are more flexible than SOS and can be granted to employees, consultants, and directors. Unlike SOS, Nests do not qualify for preferential tax treatment and offer more flexibility in terms of exercise price and exercise periods. 3. Restricted Stock Units (RSS): RSS are a form of equity compensation that grant employees the right to receive shares of company stock after a specific vesting period. These units are typically subject to certain performance or time-based restrictions, ensuring that employees remain with the company for a predetermined period before fully benefiting from the stock ownership. 4. Stock Appreciation Rights (SARS): SARS provide employees with the opportunity to profit from the increase in the company's stock price over a predetermined period. SARS are usually settled in cash or shares, depending on the terms outlined in the plan. The California Amended and Restated Stock Option Plan of Continental Materials Corp. aims to provide an attractive compensation package to eligible participants while aligning their interests with the company's long-term success. By offering various types of stock options, the plan provides flexibility to meet the diverse needs and goals of employees, consultants, and directors.