Washington Mutual, Inc. (the ”company”) launched the 2003 Washington Mutual Incentive Plan (the ”Plan”) on board activity and shareholder agreement. The participant is employed by the company or related company (or, in the case of an unqualified stock option, the participant is an employee, director, advisor, representative, advisor or contractor independent of the company or related company) and the company wishes to encourage the participant to hold common shares for the purposes specified in Section 1 of the plan. In light of the above, the parties entered into this stock options agreement (this ”agreement”) to define the terms of the option granted by the company (as defined below). The terms defined in the plan have the same meaning in this agreement, unless the context requires it otherwise. The right to acquire common shares under the option expires on the date on which, in the allocation communication, there are ten (10) years from the date of the grant, however, provided that the option expires earlier in the event of termination of the service and (unless a later date is expressly provided in another written agreement between the participant and the related entity or company) the date described in paragraph 6 of this paragraph and provided for by other provisions of the plan (for example. B as part of a business transaction under Section 15.3 of the plan). When founders come together to create a start-up, one of the fundamental things they agree on is to rent their corporate stock. A fair share price is a great motivation to stay invested in the company and reach new heights together.
Similarly, in established enterprises, once a worker is qualified for equity, the conditions of free movement must be discussed. b) The prohibition period and/or exercise capacity of the option covered in paragraph 2, point a), may be adapted by the committee to take into account the reduction in the level of employment during a period during which the member is on leave or is employed full-time. Notwithstanding the contrary provisions of this paragraph 2, the option is subject to an earlier acceleration of the exercise capacity and/or expiry of the option, as provided for by another written agreement between the participant and the company or a related company and, to the extent that it is not inconsistent with such a written agreement, as expressly provided for in this agreement and the plan (for example. B in the context of a business transaction pursuant to Section 15.3 of the plan). A pitfall is a period of qualification in a company. In general, it`s for a year. In the case of employment and stock allocation, an employee is not eligible for equity credits unless he or she has a one-year degree in the company. If they retire in the middle of the company or are dismissed by the company while they are awarded shares in accordance with their terms of employment, they must lose all their shares.