This excerpt taken from the VQ DEF 14A filed Apr 8, 2009.
The 2005 Stock Plan provides for the grant of incentive stock options, nonqualified stock options, restricted stock and stock appreciation rights and performance-based awards. No determination has been made as to the types or amounts of awards that will be granted in the future to specific individuals pursuant to the 2005 Stock Plan. See the Summary Compensation Table and Grants of Plan-Based Awards Table below for information on prior awards to our named executive officers identified in those tables.
Stock Options. Stock options, including incentive stock options as defined under Section 422 of the Code, and nonqualified stock options may be granted pursuant to the 2005 Stock Plan. The option exercise price of all incentive stock options granted pursuant to the 2005 Stock Plan will not be less than 100% of the fair market value of the common stock on the date of grant. Stock options may be exercised as determined by the Compensation Committee, but in no event may a stock option have a term extending beyond the tenth anniversary of the date of grant.
The 2005 Stock Plan allows us to grant incentive stock options. Incentive stock options granted to any person who owns, as of the date of grant, stock possessing more than ten percent of the total combined voting power of all classes of our stock, however, shall have an exercise price that is not less than 110% of the fair market value of the common stock on the date of grant and may not have a term extending beyond the fifth anniversary of the date of grant. The aggregate fair market value of the shares with respect to which options intended to be incentive stock options are exercisable for the first time by an employee in any calendar year may not exceed $100,000, or such other amount as the Code provides.
Restricted Stock. Restricted stock may be granted pursuant to the 2005 Stock Plan. A restricted stock award is the grant of shares of common stock at a price determined by the Compensation Committee (including zero), that is nontransferable and may be subject to substantial risk of forfeiture until specific conditions are met. Conditions may be based on continuing employment or achieving performance goals. During the period of restriction, participants holding shares of restricted stock may have full voting and dividend rights with respect to such shares. The restrictions will lapse in accordance with a schedule or other conditions determined by the Compensation Committee.
This excerpt taken from the VQ DEF 14A filed Apr 30, 2007.
The 2007 Bonus Plan generally provides for the grant of cash awards, as determined by the Compensation Committee, to a participant based on the attainment of specified performance goals during a specified performance period. Under the plan, each fiscal year will constitute a performance period.