Louisiana Book Value Phantom Stock Plan of First Florida Banks, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-162A
• Format: Word; Rich Text

Description

20-162A 20-162A . . . Book Value Phantom Stock Plan under which Committee of Board of Directors may, from time to time, grant quantity of phantom shares to selected employees, each share being equivalent to one share of corporation common stock. Phantom shares may be exercised at any time within ten years of date of grant (subject to certain limitations in event of termination of employment) Upon exercise, employee is paid cash equal to increase in underlying net book value per share on fully diluted basis of shares between date of grant and date of exercise Louisiana Book Value Phantom Stock Plan is a unique employee compensation plan offered by First Florida Banks, Inc. This plan enables employees to participate in the company's growth and success by granting them virtual phantom stock units based on the book value of the company. This comprehensive and progressive plan offers several variations to suit the diverse needs and preferences of employees. The Louisiana Book Value Phantom Stock Plan of First Florida Banks, Inc. is designed to reward employees based on the book value of the company, which represents its net asset value. The plan grants phantom stock units to eligible employees, which mimic actual shares but do not confer ownership rights. These units are tied to the book value of the company and track its performance over time. With the Louisiana Book Value Phantom Stock Plan, employees can benefit from the growth of the company without requiring an actual financial investment. This innovative approach aligns the interests of the employees with the long-term success of the organization, fostering a sense of ownership and motivation. First Florida Banks, Inc. offers different types of Louisiana Book Value Phantom Stock Plans to cater to different employee profiles and objectives. These variations include: 1. Executive Phantom Stock Plan: This plan targets top-level executives within the organization. It offers enhanced rewards and benefits to incentivize executives to drive performance and contribute to the bank's overall growth. 2. Employee Stock Ownership Plan (ESOP): The ESOP is designed for all employees, providing them with an opportunity to accumulate phantom stock units based on the book value of the company. This plan fosters a sense of unity and shared purpose among all employees. 3. Performance-Based Phantom Stock Plan: This plan allows employees to earn additional phantom stock units based on their individual or departmental performance. It motivates employees to excel in their roles and contribute to the overall success of the company. 4. Retirement Phantom Stock Plan: The Retirement Phantom Stock Plan ensures that employees have a financial cushion upon retirement. It offers a systematic accumulation of phantom stock units over the course of an employee's career, leading to a substantial payout upon retirement. 5.vesting-period_phantom Stock Plan: This plan distributes phantom stock units to employees over a specific period, known as the vesting period. Consequently, employees receive a gradual accumulation of units, ensuring long-term commitment and loyalty within the organization. The Louisiana Book Value Phantom Stock Plan of First Florida Banks, Inc. is an innovative and inclusive compensation program aimed at fostering a culture of ownership, performance, and long-term commitment among employees. It provides an excellent opportunity for employees to benefit from the growth and success of the company, creating a win-win scenario for both employees and the organization.

Louisiana Book Value Phantom Stock Plan is a unique employee compensation plan offered by First Florida Banks, Inc. This plan enables employees to participate in the company's growth and success by granting them virtual phantom stock units based on the book value of the company. This comprehensive and progressive plan offers several variations to suit the diverse needs and preferences of employees. The Louisiana Book Value Phantom Stock Plan of First Florida Banks, Inc. is designed to reward employees based on the book value of the company, which represents its net asset value. The plan grants phantom stock units to eligible employees, which mimic actual shares but do not confer ownership rights. These units are tied to the book value of the company and track its performance over time. With the Louisiana Book Value Phantom Stock Plan, employees can benefit from the growth of the company without requiring an actual financial investment. This innovative approach aligns the interests of the employees with the long-term success of the organization, fostering a sense of ownership and motivation. First Florida Banks, Inc. offers different types of Louisiana Book Value Phantom Stock Plans to cater to different employee profiles and objectives. These variations include: 1. Executive Phantom Stock Plan: This plan targets top-level executives within the organization. It offers enhanced rewards and benefits to incentivize executives to drive performance and contribute to the bank's overall growth. 2. Employee Stock Ownership Plan (ESOP): The ESOP is designed for all employees, providing them with an opportunity to accumulate phantom stock units based on the book value of the company. This plan fosters a sense of unity and shared purpose among all employees. 3. Performance-Based Phantom Stock Plan: This plan allows employees to earn additional phantom stock units based on their individual or departmental performance. It motivates employees to excel in their roles and contribute to the overall success of the company. 4. Retirement Phantom Stock Plan: The Retirement Phantom Stock Plan ensures that employees have a financial cushion upon retirement. It offers a systematic accumulation of phantom stock units over the course of an employee's career, leading to a substantial payout upon retirement. 5.vesting-period_phantom Stock Plan: This plan distributes phantom stock units to employees over a specific period, known as the vesting period. Consequently, employees receive a gradual accumulation of units, ensuring long-term commitment and loyalty within the organization. The Louisiana Book Value Phantom Stock Plan of First Florida Banks, Inc. is an innovative and inclusive compensation program aimed at fostering a culture of ownership, performance, and long-term commitment among employees. It provides an excellent opportunity for employees to benefit from the growth and success of the company, creating a win-win scenario for both employees and the organization.