The Maryland Amended and Restated Stock Option Plan of L. Luria and Son, Inc. is a comprehensive compensation program designed to provide eligible employees of the company with stock options as part of their overall benefits package. This plan is specifically tailored to meet the needs and requirements set forth by Maryland state laws. Under this plan, employees are granted the opportunity to purchase a predetermined number of shares of the company's stock at a specified price, known as the exercise price. These stock options allow employees to benefit from any potential increase in the company's stock value over time. By aligning the interests of employees and shareholders, this plan aims to incentivize and reward employee performance while promoting the growth and success of L. Luria and Son, Inc. The Maryland Amended and Restated Stock Option Plan of L. Luria and Son, Inc. offers various types of stock options to eligible participants, including: 1. Non-Qualified Stock Options (Nests): These stock options do not meet the requirements set by the Internal Revenue Code (IRC) for special tax treatment. They typically have an exercise price equal to the fair market value of the stock on the date of grant. 2. Incentive Stock Options (SOS): These stock options qualify for special tax treatment under the IRC. To be eligible for SOS, employees must meet certain specified criteria, such as being an employee of the company and not owning more than 10% of the company's stock. SOS have strict exercise price requirements and holding period rules. 3. Performance-based Stock Options: This type of stock option is contingent upon achieving specific performance goals or milestones set by the company. By linking stock option grants to measurable performance targets, L. Luria and Son, Inc. aims to motivate employees to strive for superior results, benefiting both the individual and the company. The Maryland Amended and Restated Stock Option Plan of L. Luria and Son, Inc. is subject to periodic reviews and amendments to ensure compliance with applicable laws and regulations. It also includes provisions related to stock option vesting schedules, excitability periods, and limitations on transfers and assignments of options. Overall, this comprehensive stock option plan allows L. Luria and Son, Inc. to attract, retain, and motivate talented employees, fostering a culture of ownership and alignment with the company's long-term success.
Maryland Amended and Restated Stock Option Plan of L. Luria and Son, Inc.
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