North Carolina 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 North Carolina Incentive Stock Plan of Chaparral Resources, Inc. is a comprehensive compensation program designed to attract and retain talented employees in the state of North Carolina. This plan offers a range of incentives to motivate and reward employees, aligning their interests with the company's long-term success. Chaparral Resources, Inc. understands the importance of incentivizing its workforce and has developed various types of stock plans to cater to different employee groups. 1. Employee Stock Options: One type of incentive stock plan offered by Chaparral Resources, Inc. is employee stock options. These options grant employees the right to purchase company stock at a predetermined price within a specified timeframe. This aligns employee interests with the company's performance, as the options become more lucrative if the stock price rises. 2. Restricted Stock Units (RSS): Another type of incentive stock plan is RSS. RSS are grants of company stock that vest over a specific period, providing employees with an ownership stake in Chaparral Resources, Inc. RSS offer employees an incentive to stay with the company, as the stock becomes fully theirs once the vesting period is complete. 3. Performance Shares: Chaparral Resources, Inc. may also offer performance shares as part of its Incentive Stock Plan. With performance shares, employees receive shares of company stock based on the achievement of predetermined performance goals. This type of incentive encourages employees to work towards specific targets, contributing to the overall success of the company. 4. Stock Appreciation Rights (SARS): The Incentive Stock Plan of Chaparral Resources, Inc. may include stock appreciation rights. SARS provide employees with the opportunity to benefit from the increase in the company's stock price without having to purchase actual shares. When SARS are exercised, employees receive the excess of the stock's market value over the grant price. 5. Phantom Stock: Another incentive stock plan offered by Chaparral Resources, Inc. could be phantom stock. This plan allows employees to receive hypothetical units or shares that mimic the value of the company's actual stock. Phantom stock often grants employees the same economic benefits as actual stock ownership, such as dividends or the appreciation in stock value. Overall, the North Carolina Incentive Stock Plan of Chaparral Resources, Inc. provides employees with various types of incentives to drive performance, promote loyalty, and align their interests with the company's growth. These plans are designed to motivate employees and foster a strong collaborative environment within the organization.