This excerpt taken from the LRCX DEF 14A filed Oct 10, 2006.
SUMMARY OF THE 2007 STOCK PLAN
General. The purpose of the 2007 Stock Plan is to enhance the long-term stockholder value of Lam by offering opportunities to eligible individuals to participate in the growth in value of the equity of the Company. Stock options, stock appreciation rights and stock awards, including restricted stock, deferred stock, restricted stock units, performance shares, phantom stock and similar types of awards, may be granted under the 2007 Stock Plan. Options granted under the 2007 Stock Plan may be either incentive stock options, as defined in Section 422 of the Code, or non-statutory stock options.