Connecticut Long Term Incentive Plan of Life Re Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-121
• Format: Word; Rich Text

Description

20-121 20-121 . . . Long-Term Incentive Plan for three executives of corporation. Material terms of performance goals established for participants are based upon results of certain transactions including acquisitions of assets, blocks of business, or other entities, mergers, or gains from the disposition of certain investments (Triggering Event). A bonus pool is created upon occurrence of each Triggering Event to be divided among participants according to participation units specified by the Compensation Committee. Pool equals percentage of amount involved in applicable transaction; maximum percentage is five percent of amount involved Connecticut Long Term Incentive Plan (LTI) is a specialized compensation program offered by Life Re Corp. The plan aims to incentivize and reward long-term performance and commitment of employees within the company. The Connecticut LTI Plan is designed to motivate employees to achieve strategic objectives, enhance shareholder value, and align their interests with the long-term goals of Life Re Corp. It encompasses various performance measures and offers attractive rewards for achieving predetermined targets. Key features of the Connecticut Long Term Incentive Plan include: 1. Performance-Based Incentives: The plan incorporates performance-related metrics, such as revenue growth, profitability, customer satisfaction, operational efficiency, and other strategic goals. Employees are encouraged to contribute to the company's success through their individual and team performances. 2. Long-Term Perspective: The Connecticut LTI Plan promotes a long-term focus by rewarding employees based on sustained performance. It typically spans over several years, ensuring that individuals are invested in the company's long-term growth and stability. 3. Deferred Compensation: To further align the interests of the employees with the company's success, a portion of the incentives earned through the LTI plan can be deferred until a later date. This method encourages employees to remain with the company for an extended period, as they can receive deferred payouts after meeting specific vesting criteria. 4. Equity-Based Awards: Depending on the specific configuration of the Connecticut LTI Plan, participants may receive equity-based awards, such as stock or stock options. This serves as an additional incentive for employees to contribute to the company's performance and share in its future success. Different types or variations of the Connecticut Long Term Incentive Plans offered by Life Re Corp. may include: 1. Performance Share Units (Plus): Employees are granted a specific number of units that convert into shares of Life Re Corp. stock after a defined performance period. The conversion is based on predetermined financial or operational goals. 2. Restricted Stock Units (RSS): Employees are allocated a certain number of restricted stock units that vest over time. Once the units have fully vested, employees gain ownership of the company's stock. 3. Cash-Based Performance Incentives: Instead of providing equity-based incentives, this type of LTI plan rewards employees with cash payouts based on predetermined performance targets. The performance metrics may be financial, operational, or a combination of both. 4. Employee Stock Purchase Plan (ESPN): This LTI plan allows employees to purchase company stock at a discounted price, usually through regular payroll deductions. The ESPN offers a long-term investment opportunity and can be an enticing incentive for employees. In conclusion, the Connecticut Long Term Incentive Plan of Life Re Corp. is a comprehensive and strategic compensation program designed to motivate, reward, and retain talented employees. By offering performance-based incentives, deferred compensation, and potentially equity-based rewards, the plan contributes to the long-term success of the company while aligning the interests of its workforce.

Connecticut Long Term Incentive Plan (LTI) is a specialized compensation program offered by Life Re Corp. The plan aims to incentivize and reward long-term performance and commitment of employees within the company. The Connecticut LTI Plan is designed to motivate employees to achieve strategic objectives, enhance shareholder value, and align their interests with the long-term goals of Life Re Corp. It encompasses various performance measures and offers attractive rewards for achieving predetermined targets. Key features of the Connecticut Long Term Incentive Plan include: 1. Performance-Based Incentives: The plan incorporates performance-related metrics, such as revenue growth, profitability, customer satisfaction, operational efficiency, and other strategic goals. Employees are encouraged to contribute to the company's success through their individual and team performances. 2. Long-Term Perspective: The Connecticut LTI Plan promotes a long-term focus by rewarding employees based on sustained performance. It typically spans over several years, ensuring that individuals are invested in the company's long-term growth and stability. 3. Deferred Compensation: To further align the interests of the employees with the company's success, a portion of the incentives earned through the LTI plan can be deferred until a later date. This method encourages employees to remain with the company for an extended period, as they can receive deferred payouts after meeting specific vesting criteria. 4. Equity-Based Awards: Depending on the specific configuration of the Connecticut LTI Plan, participants may receive equity-based awards, such as stock or stock options. This serves as an additional incentive for employees to contribute to the company's performance and share in its future success. Different types or variations of the Connecticut Long Term Incentive Plans offered by Life Re Corp. may include: 1. Performance Share Units (Plus): Employees are granted a specific number of units that convert into shares of Life Re Corp. stock after a defined performance period. The conversion is based on predetermined financial or operational goals. 2. Restricted Stock Units (RSS): Employees are allocated a certain number of restricted stock units that vest over time. Once the units have fully vested, employees gain ownership of the company's stock. 3. Cash-Based Performance Incentives: Instead of providing equity-based incentives, this type of LTI plan rewards employees with cash payouts based on predetermined performance targets. The performance metrics may be financial, operational, or a combination of both. 4. Employee Stock Purchase Plan (ESPN): This LTI plan allows employees to purchase company stock at a discounted price, usually through regular payroll deductions. The ESPN offers a long-term investment opportunity and can be an enticing incentive for employees. In conclusion, the Connecticut Long Term Incentive Plan of Life Re Corp. is a comprehensive and strategic compensation program designed to motivate, reward, and retain talented employees. By offering performance-based incentives, deferred compensation, and potentially equity-based rewards, the plan contributes to the long-term success of the company while aligning the interests of its workforce.