ONVI » Topics » Eligibility

This excerpt taken from the ONVI 10-Q filed Nov 14, 2008.
Eligibility.
 
(v) Any person who is an Employee as of the Offering Date of a given Offering Period shall be eligible to participate in such Offering Period under the Plan, subject to the requirements of Section 5(a) and the limitations imposed by Section 423(b) of the Code.
 
(w) Any provisions of the Plan to the contrary notwithstanding, no Employee shall be granted an option under the Plan (i) if, immediately after the grant, such Employee (or any other person whose stock would be attributed to such Employee pursuant to Section 424(d) of the Code) would own capital stock of the Company and/or hold outstanding options to, purchase stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any subsidiary of the Company, or (ii) if such option would permit his or her rights to purchase stock under all employee stock purchase plans (described in Section 423 of the Code) of the Company and its Subsidiaries to accrue at a rate which exceeds Twenty-Five Thousand Dollars ($25,000) of the Fair Market Value (as defined in Section 7(b) below) of such stock (determined at the time such option is granted) for each calendar year in which such option is outstanding at any time,
 
3. Offering Periods and Purchase Dates.
 
(a) 
This excerpt taken from the ONVI DEF 14A filed Aug 4, 2008.

Eligibility

The 2008 Equity Incentive Plan provides that options may be granted to employees (including officers and directors who are also employees) and consultants (including directors who are not employees) of the Company. Incentive stock options may be granted only to employees. The Administrator selects the optionees and determines the number of shares and the exercise price to be associated with each option. In making such determination, the Administrator takes into account the duties and responsibilities of the optionee, the value of the optionee’s services, the optionee’s present and potential contribution to the success of the Company, and other relevant factors. As of July 23, 2008, there were approximately 171 employees, including nine executive officers, and 16 consultants (including six non-employee directors) eligible to participate in the 2008 Equity Incentive Plan.

 

5


The 2008 Equity Incentive Plan provides a limit on the aggregate exercise price of incentive stock options that first become exercisable with respect to an optionee during any calendar year.

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