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Elgin Illinois Form 3921: What You Should Know

As such Members believe the best way to accomplish this objective is to ensure that each year school districts, schools & the teacher workforce are provided with a significant number of participants and/or non-participant ‚Äúbuy-in‚ÄĚ units; AND WHEREAS, the principal purpose of an incentive stock option is to¬† incentivize the exercise of stock rights by employees of the company, or an affiliate of the company for the purpose of generating an increased¬† share price and a corresponding increase in the value of company stock; AND WHEREAS, the intent of each participant with such a stock option is to enter into the exercise of the stock option for an agreed upon¬† consideration, and not for any other purpose. Therefore, the Board of Directors of the Elgin Community¬† Services District desires to request your help in helping the ELGIN contract administrator (CAD) develop a detailed, concise¬† statement of each participant's right to vote with respect to each option exercise or the total number of stock rights vested in¬† the option exercise which can be relied upon by the company in determining whether participants' exercise of the right to¬† vote was for any other purpose than the company's stockholders' best interests; and WHEREAS, the CSA and Elgin Township (G) agreed to a two-years agreement with the company with respect to the exercise of the option, and upon the terms specified in the agreement, the company intends to exercise¬† the options for an aggregate of five years and is seeking proposals from the Elgin district to help facilitate such¬† assistance to the district or the city (Galveston Township) who wishes to exercise the option; NOW THEREFORE BE IT RESOLVED that the Elgin¬† Community Services District desires to: (a) solicit¬†participation in the development and preparation of the¬† Option Exercise Statement/Form 3921. (b) provide the CAD with complete information regarding each option¬† exercise transaction including the participant's right to vote, number of shares to be acquired, and the¬† total number of shares that may be exercised. (c) encourage the preparation of a revised copy of (a) and (b) in¬† which the CSA and Elgin Township agree to a new one-year option to the CSA or Elgin Township respectively.

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