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This excerpt taken from the MDTH DEF 14A filed Jan 29, 2009. Award
Granting Procedures
MedCath has adopted and established certain stock incentive
plans (the “Plans”) to attract and retain employees of
outstanding competence and to encourage and enable such
employees to obtain a financial interest in the Corporation.
MedCath has adopted the following policy as it relates to the
awarding of stock options under the Plans.
The Plans are administered by the compensation committee of the
board of directors of MedCath (the “Committee”). The
Committee has all of the powers necessary to enable it to
properly carry out its duties under the Plans. The Committee has
the power to construe and interpret the Plans. The Committee may
appoint such agents, who need not be members of the Committee,
as it may deem necessary for the effective performance of its
duties, and may delegate to such agents such powers and duties
as the Committee may deem expedient or appropriate that are not
inconsistent with the intent of the Plans to the fullest extent
permitted under the law. The decision of the Committee or any
agent of the Committee upon all matters within the scope of its
authority shall be final and conclusive on all persons.
All awards of stock options (and or restricted stock, if and as
applicable) may be granted to any employee (designated as a
participant under the terms and conditions of the Plans) by the
Committee, in its sole discretion. The Committee shall determine
which employees shall be participants, the type of award to be
made to each participant, and the terms, conditions, and
limitations applicable to each award not inconsistent with the
Plans. The Committee may grant awards singly, in tandem, or in
combination with other awards, as the Committee may, in its sole
discretion, determine.
The maximum number of shares of stock with respect to which
awards may be granted to any employee during a fiscal year of
the Company is 500,000 shares. Awards of stock options may
include incentive stock options, non-qualified stock options,
restricted stock or any combination thereof and all options are
immediately vested subject to applicable stock sale restrictions.
All grants of any type to the Company’s Chief Executive
Officer must finally be approved by the board of directors.
This excerpt taken from the MDTH DEF 14A filed Jan 30, 2008. Award
Granting Procedures
MedCath has adopted and established certain stock incentive
plans (the “Plans”) to attract and retain employees of
outstanding competence and to encourage and enable such
employees to obtain a financial interest in the Corporation.
MedCath has adopted the following policy as it relates to the
awarding of stock options under the Plans.
The Plans are administered by the compensation committee of the
Board of Directors of MedCath (the “Committee”). The
Committee has all of the powers necessary to enable it to
properly carry out its duties under the Plans. The Committee has
the power to construe and interpret the Plans. The Committee may
appoint such agents, who need not be members of the Committee,
as it may deem necessary for the effective performance of its
duties, and may delegate to such agents such powers and duties
as the Committee may deem expedient or appropriate that are not
inconsistent with the intent of the Plans to the fullest extent
permitted under the law. The decision of the Committee or any
agent of the Committee upon all matters within the scope of its
authority shall be final and conclusive on all persons.
All awards of stock options (and or restricted stock, if and as
applicable) may be granted to any employee (designated as a
participant under the terms and conditions of the Plans) by the
Committee, in its sole discretion. The Committee shall determine
which employees shall be participants, the type of award to be
made to each participant, and the terms, conditions, and
limitations applicable to each award not inconsistent with the
Plans. The Committee may grant awards singly, in tandem, or in
combination with other awards, as the Committee may, in its sole
discretion, determine.
The maximum number of shares of stock with respect to which
awards may be granted to any employee during a fiscal year of
the Corporation is 500,000 shares. Awards of stock options
may include incentive stock options, non-qualified stock
options, restricted stock or any combination thereof and all
options are immediately vested subject to applicable stock sale
restrictions.
All grants of any type to the Corporation’s Chief Executive
Officer must finally be approved by the Board of Directors.
The Company does not have a policy regarding when stock option
grants are awarded. Awards are granted based on total direct
compensation, personal performance or company performance at the
election of the compensation committee and Board of Directors.
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