Agoracom: Small Cap Investment - Doral Energy Corp

Welcome To The Doral Energy Corp HUB On AGORACOM

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Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!

Sincerely,

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gemoz

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DRLY the last 8-K

posted on Jul 31, 2010 10:24AM

The basics:

Amended and Restated 2009 Stock Incentive Plan

On July 28, 2010, Doral Energy Corp. (the "Company") amended its 2009 Stock Incentive Plan adopted on April 29, 2009 (the "2009 Plan") to increase the maximum number of shares of common stock available for issuance under the plan from 8,500,000 post-split shares to 14,500,000 shares. The Board of Directors may at any time after August 1, 2010, and from time to time thereafter, increase the maximum aggregate number of shares of common stock available for issuance under the 2009 Plan, provided, upon such increase, that the maximum aggregate number of shares of common stock that may be issued under the 2009 Plan shall not be greater than 15% of the total number of shares of common stock outstanding.

No other changes to the 2009 Plan were made."

Some details:

"...

9.3 Types of Stock Awards

The type of Stock Awards that may be granted by the Plan Administrator shall include, but shall not be limited to, the following types of Stock Awards:

(a)	Restricted Stock Awards, whereby the Company sells shares of Common Stock to a Participant that is subject to restrictions;

(b)	Compensation Stock Awards, whereby the Company issues shares of Common Stock to a Participant as compensation for services provided or to be provided by the Participant pursuant to an employment or consultant agreement;

(c)	Bonus Stock Awards, whereby the Company issues shares of Common Stock in consideration for services rendered to the Company by a Participant.

The value of the shares of Common Stock used in the determination of any Stock Award granted by the Plan Administrator to a Participant shall not be less than 85% of Fair Market Value of the Common Stock on the Grant Date. .."

Looks like these awards may be given in lieu of salary, in some instances, and in others, as 'in the money' awards? Am I wrong? Is this routinely part of penny stocks? Seems to me that 15% is high as well. Comments, anyone?

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