Georgia Incentive Stock Plan of Chaparral Resources, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-122
• Format: Word; Rich Text

Description

18-122 18-122 . . . Incentive Stock Plan under which (a) Compensation Committee can grant awards of common Stock to employees, consultants and directors, (b) each outside director will automatically receive an award of 10,000 shares of common stock if, on or before specified date, corporation is producing or has produced not less than 3,000 barrels of crude oil per day and obtained necessary financing to permit development of a named oil field, and (c) each outside director shall receive stock award of 250 shares of common stock for each meeting of Board of Directors that such director attends

The Georgia Incentive Stock Plan of Chaparral Resources, Inc. is a comprehensive employee benefit program designed to motivate and reward employees of the company. This stock-based plan offers various incentives to employees, providing them with the opportunity to acquire shares of Chaparral Resources, Inc. It aims to align the interests of employees with those of the company's shareholders, promoting a sense of ownership and encouraging long-term commitment and dedication. The Georgia Incentive Stock Plan of Chaparral Resources, Inc. offers several types of stock-based incentives, each with its unique features and benefits. These include: 1. Stock Options: This type of incentive allows employees to purchase a specified number of company stocks at a predetermined price within a certain period. It enables employees to benefit from any increase in the company's stock price, thereby providing a financial incentive to contribute to the company's growth and success. 2. Restricted Stock Awards: Under this plan, employees are granted company shares subject to certain restrictions. These restrictions could include a vesting period or the achievement of specific performance targets. Once the restrictions are lifted, employees gain full ownership of the awarded shares, which can be a valuable asset and an additional source of income. 3. Stock Appreciation Rights (SARS): This incentive provides employees with the opportunity to receive cash or company stock payouts based on the appreciation of Chaparral Resources, Inc.'s stock over a predetermined period. The value received is typically determined by the difference between the stock's fair market value at the grant date and the price at exercise or settlement. 4. Performance Shares: This type of incentive is linked to predetermined performance goals set by the company. If the company achieves these goals, employees are eligible to receive a certain number of shares. It aligns the interests of the employees with the company's overall strategic objectives, fostering a culture of high performance and accountability. The Georgia Incentive Stock Plan of Chaparral Resources, Inc. is carefully designed to provide employees with valuable incentives, promoting loyalty, and encouraging productivity and dedication. It underscores the company's commitment to recognizing and rewarding hardworking employees, fostering a collaborative and motivated work environment. By offering various stock-based incentives, the plan aims to attract and retain talent while driving long-term shareholder value.