Incentive Stock Option Plan Agreement is made in order to secure the benefits of incentive that belongs to the individuals in a corporation and also the share holders. The benefits of the incentive are inherent by the owners of the shares who include the employees, consultants and the directors, as these are the individuals who are largely responsible for the welfare and development of the corporation.
This Agreement has the rules set forth by the Stock Exchange and the individuals involved in the agreement have to comply with the rules. The board of directors is responsible for the construction and interpretation of the Incentive Stock Option Plan and also for the exercise price of the options that is granted under the plan. These Agreements makes sure that the options are transferable and assignable only by will or the laws and not otherwise.
[ Also Read: Stock Option Agreement]
Sample for Incentive Stock Option Plan Agreements
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