CSPI » Topics » Purpose

This excerpt taken from the CSPI 10-K filed Dec 29, 2008.

SECTION 1. Purpose

This 1991 Stock Option Plan (the “Plan”) is intended to attract and retain highly qualified and competent employees and directors, to serve as a performance incentive for officers and employees of CSP Inc., a Massachusetts corporation (the “Company”), or its Subsidiaries (as hereinafter defined) and for certain other individuals providing services to or acting as directors of the Company or its Subsidiaries, to encourage the persons to whom options are granted (a “Grantee” or “Grantees”) to acquire or increase a proprietary interest in the success of the Company and to maintain and enhance the Company’s long-term performance and profitability. The Company intends that this purpose will be effected by the granting of incentive stock options (“Incentive Options”) as defined in Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”) and other stock options (“Non-Statutory Options”) under the Plan. The term “Subsidiaries” means any corporations in which stock possessing 50% or more of the total combined voting power of all classes of stock of any such corporation or corporations is owned directly or indirectly by the Company.

This excerpt taken from the CSPI DEF 14A filed Mar 30, 2007.

Purpose

 

The purpose of the 2007 Plan is to provide additional incentive to present and future Directors, executives and key employees of, as well as consultants and advisers to, the Company and its subsidiaries by affording them an opportunity to acquire or increase their proprietary interest in the Company through the acquisition of shares of our common stock. By encouraging stock ownership by such persons, we seek to attract and retain persons of exceptional competence and seek to furnish an added incentive for them to increase their efforts on our behalf. Awards granted under the 2007 Plan may be “incentive stock options” as defined in Section 422 of the Code, non-statutory stock options, restricted stock or unrestricted stock.

 

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