Iowa 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 The Iowa Long Term Incentive Plan (TIP) of Life Re Corp. is a comprehensive program designed to motivate and reward employees for their long-term commitment and exceptional performance within the company. Building upon the traditional compensation structure, the Iowa TIP aligns the objectives of employees with those of the organization, fostering a culture of goal-oriented collaboration and enhanced productivity. As an integral part of the compensation package, the Iowa TIP comprises various types of incentives, each tailored to address specific objectives or roles within the company. Some key types of Iowa TIP offered by Life Re Corp. include: 1. Performance-Based Stock Options: This type of TIP provides eligible employees with the opportunity to purchase company stock at a predetermined price within a specified timeframe. The number of options granted may be tied to individual and/or company-wide performance metrics, encouraging employees to strive for excellence to maximize their potential gains. 2. Restricted Stock Units (RSS): RSS are a form of equity compensation that represent a promised future delivery of company stock. Under the Iowa TIP, employees may be granted RSS which vest over a certain period of time and are subject to meeting predetermined performance criteria or tenure milestones. RSS serve as long-term retention tools, incentivizing employees to remain committed to the organization. 3. Cash Bonuses: In addition to equity-based incentives, the Iowa TIP may also encompass cash bonuses tied to individual or company performance. These bonuses can be based on various factors such as financial objectives, operational achievements, or strategic milestones. Cash bonuses offer immediate rewards and recognition for exceptional performance, motivating employees to consistently exceed expectations. 4. Employee Stock Purchase Plan (ESPN): The ESPN allows eligible employees to purchase company stock at a discounted price, thereby encouraging employee ownership and aligning their interests with long-term value creation. This type of Iowa TIP provides a means for employees to accumulate wealth and foster a sense of pride and loyalty to Life Re Corp. By implementing the Iowa TIP, Life Re Corp. aims to attract, retain, and engage top talent while driving performance and shareholder value. The program promotes a sense of ownership and accountability, creating a positive work environment where employees are empowered to contribute to the company's long-term success. It not only rewards outstanding achievements but also aims to foster a culture of innovation, collaboration, and continuous improvement within the organization.

The Iowa Long Term Incentive Plan (TIP) of Life Re Corp. is a comprehensive program designed to motivate and reward employees for their long-term commitment and exceptional performance within the company. Building upon the traditional compensation structure, the Iowa TIP aligns the objectives of employees with those of the organization, fostering a culture of goal-oriented collaboration and enhanced productivity. As an integral part of the compensation package, the Iowa TIP comprises various types of incentives, each tailored to address specific objectives or roles within the company. Some key types of Iowa TIP offered by Life Re Corp. include: 1. Performance-Based Stock Options: This type of TIP provides eligible employees with the opportunity to purchase company stock at a predetermined price within a specified timeframe. The number of options granted may be tied to individual and/or company-wide performance metrics, encouraging employees to strive for excellence to maximize their potential gains. 2. Restricted Stock Units (RSS): RSS are a form of equity compensation that represent a promised future delivery of company stock. Under the Iowa TIP, employees may be granted RSS which vest over a certain period of time and are subject to meeting predetermined performance criteria or tenure milestones. RSS serve as long-term retention tools, incentivizing employees to remain committed to the organization. 3. Cash Bonuses: In addition to equity-based incentives, the Iowa TIP may also encompass cash bonuses tied to individual or company performance. These bonuses can be based on various factors such as financial objectives, operational achievements, or strategic milestones. Cash bonuses offer immediate rewards and recognition for exceptional performance, motivating employees to consistently exceed expectations. 4. Employee Stock Purchase Plan (ESPN): The ESPN allows eligible employees to purchase company stock at a discounted price, thereby encouraging employee ownership and aligning their interests with long-term value creation. This type of Iowa TIP provides a means for employees to accumulate wealth and foster a sense of pride and loyalty to Life Re Corp. By implementing the Iowa TIP, Life Re Corp. aims to attract, retain, and engage top talent while driving performance and shareholder value. The program promotes a sense of ownership and accountability, creating a positive work environment where employees are empowered to contribute to the company's long-term success. It not only rewards outstanding achievements but also aims to foster a culture of innovation, collaboration, and continuous improvement within the organization.