These excerpts taken from the GCFB 10-K filed Mar 10, 2008.
The purpose of this Granite City Food & Brewery Ltd. 1997 Director Stock Option Plan (the Plan) is to attract and retain the best available individuals to serve as directors of the Company, to provide additional incentive to such persons and to encourage continued service by such persons on the Board.
The Company intends that the options granted hereunder shall not constitute incentive stock options within the meaning of Section 422 of the Code, as amended.
The purpose of this Granite City Food & Brewery Ltd. 1997
The Company intends that the options granted hereunder shall not
This excerpt taken from the GCFB DEF 14A filed Sep 25, 2007.
The Plan has been established by the Company to (i) attract and retain individuals eligible to participate in the Plan; (ii) motivate Eligible Individuals, by means of appropriate incentives, to achieve long-range goals; (iii) provide incentive compensation opportunities that are competitive with those of other similar companies; and (iv) further identify Eligible Individuals interests with those of the Companys other shareholders through compensation that is based on the Companys common stock; and thereby promote the long-term financial interest of the Company and any Related Company, including the growth in value of the Companys equity and enhancement of long-term shareholder return.