Idaho 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 Idaho Long Term Incentive Plan is a program offered by Life Re Corp. to incentivize and reward its employees for their long-term commitment, dedication, and performance within the organization. This plan is designed to attract, motivate, and retain talented professionals by providing them with additional financial benefits over an extended period. The Idaho Long Term Incentive Plan acknowledges the valuable contributions of employees and aligns their interests with the long-term success and growth of Life Re Corp. This program serves as a crucial component of the company's comprehensive employee compensation and retention strategy. Key features of Idaho Long Term Incentive Plan include: 1. Performance-Based Rewards: The plan offers performance-based rewards to eligible employees, which are directly linked to the achievement of predefined objectives and targets set by Life Re Corp. 2. Vesting Schedule: The plan generally includes a vesting schedule, which outlines the duration over which employees gain entitlement to their rewards. Vesting schedules may range from a few years to several years, encouraging employees to remain with the company in the long run. 3. Stock Options: In some cases, Life Re Corp. may grant stock options as part of the Idaho Long Term Incentive Plan. These options allow employees to purchase company stock at a predetermined price during a specified period, enabling them to benefit from any future appreciation in the stock's value. 4. Restricted Stock Units (RSS): Another form of reward within the plan can be RSS, which grant employees the right to receive company shares after a specific vesting period. RSS often encourage employees to remain loyal to the company and share in its success. 5. Performance Units (Pus): Life Re Corp. may also include performance units in the plan. These units represent synthetic shares whose value is tied to the company's performance against defined goals. Pus provide employees with additional long-term incentives based on the organization's overall success. By implementing the Idaho Long Term Incentive Plan, Life Re Corp. aims to nurture a high-performance culture, increase employee engagement, and foster a sense of ownership among its workforce. This plan demonstrates the company's commitment to recognizing and rewarding employee contributions and promoting their professional growth.

Idaho Long Term Incentive Plan is a program offered by Life Re Corp. to incentivize and reward its employees for their long-term commitment, dedication, and performance within the organization. This plan is designed to attract, motivate, and retain talented professionals by providing them with additional financial benefits over an extended period. The Idaho Long Term Incentive Plan acknowledges the valuable contributions of employees and aligns their interests with the long-term success and growth of Life Re Corp. This program serves as a crucial component of the company's comprehensive employee compensation and retention strategy. Key features of Idaho Long Term Incentive Plan include: 1. Performance-Based Rewards: The plan offers performance-based rewards to eligible employees, which are directly linked to the achievement of predefined objectives and targets set by Life Re Corp. 2. Vesting Schedule: The plan generally includes a vesting schedule, which outlines the duration over which employees gain entitlement to their rewards. Vesting schedules may range from a few years to several years, encouraging employees to remain with the company in the long run. 3. Stock Options: In some cases, Life Re Corp. may grant stock options as part of the Idaho Long Term Incentive Plan. These options allow employees to purchase company stock at a predetermined price during a specified period, enabling them to benefit from any future appreciation in the stock's value. 4. Restricted Stock Units (RSS): Another form of reward within the plan can be RSS, which grant employees the right to receive company shares after a specific vesting period. RSS often encourage employees to remain loyal to the company and share in its success. 5. Performance Units (Pus): Life Re Corp. may also include performance units in the plan. These units represent synthetic shares whose value is tied to the company's performance against defined goals. Pus provide employees with additional long-term incentives based on the organization's overall success. By implementing the Idaho Long Term Incentive Plan, Life Re Corp. aims to nurture a high-performance culture, increase employee engagement, and foster a sense of ownership among its workforce. This plan demonstrates the company's commitment to recognizing and rewarding employee contributions and promoting their professional growth.