Maine Long Term Incentive Program for Senior Management

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

Description

20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies The Maine Long Term Incentive Program for Senior Management is a comprehensive program designed to attract and retain top-level executives in senior management positions within companies operating in Maine. This program offers various incentives and rewards to senior executives, encouraging their long-term commitment and dedication to the organization. Keywords: Maine, long-term incentive program, senior management, attract, retain, top-level executives, commitment, dedication, rewards, organizations. The Maine Long Term Incentive Program for Senior Management aims to create a supportive environment for senior executives, recognizing their significant contributions to the company's success. By offering attractive incentives, this program ensures that highly talented executives are motivated to stay with the company for an extended period, playing a vital role in its growth and profitability. There are several types of Maine Long Term Incentive Programs for Senior Management, each tailored to the unique needs of different organizations. These programs may include: 1. Stock Options: Some companies offer senior executives the opportunity to purchase company stock at a specified price over a predetermined period. This allows executives to benefit from the company's financial performance and align their interests with shareholders. 2. Restricted Stock Units (RSS): RSS grant senior executives a specific number of company shares as an incentive. However, these shares are subject to vesting conditions, ensuring executives remain committed to the organization for an extended period before fully acquiring the stock. 3. Performance Bonuses: Performance-based bonuses are often a key component of long-term incentive programs. These bonuses are tied to predetermined performance metrics and are typically paid out over several years, encouraging sustained high-performance and strategic decision-making by senior executives. 4. Deferred Compensation Plans: These plans allow senior executives to defer portions of their annual compensation, which is then paid out at a future predetermined date, such as retirement. This incentivizes executives to remain with the organization and rewards their long-term commitment. 5. Retirement Plans: Some long-term incentive programs for senior management in Maine provide robust retirement benefits tailored to executives. These plans may include generous employer contributions, investment options, and personalized retirement planning services. The Maine Long Term Incentive Program for Senior Management recognizes that these talented individuals play a crucial role in driving organizational success. By offering a range of rewards and incentives, companies in Maine can attract and retain top-tier executives, fostering long-term commitment and stability within their senior management teams.

The Maine Long Term Incentive Program for Senior Management is a comprehensive program designed to attract and retain top-level executives in senior management positions within companies operating in Maine. This program offers various incentives and rewards to senior executives, encouraging their long-term commitment and dedication to the organization. Keywords: Maine, long-term incentive program, senior management, attract, retain, top-level executives, commitment, dedication, rewards, organizations. The Maine Long Term Incentive Program for Senior Management aims to create a supportive environment for senior executives, recognizing their significant contributions to the company's success. By offering attractive incentives, this program ensures that highly talented executives are motivated to stay with the company for an extended period, playing a vital role in its growth and profitability. There are several types of Maine Long Term Incentive Programs for Senior Management, each tailored to the unique needs of different organizations. These programs may include: 1. Stock Options: Some companies offer senior executives the opportunity to purchase company stock at a specified price over a predetermined period. This allows executives to benefit from the company's financial performance and align their interests with shareholders. 2. Restricted Stock Units (RSS): RSS grant senior executives a specific number of company shares as an incentive. However, these shares are subject to vesting conditions, ensuring executives remain committed to the organization for an extended period before fully acquiring the stock. 3. Performance Bonuses: Performance-based bonuses are often a key component of long-term incentive programs. These bonuses are tied to predetermined performance metrics and are typically paid out over several years, encouraging sustained high-performance and strategic decision-making by senior executives. 4. Deferred Compensation Plans: These plans allow senior executives to defer portions of their annual compensation, which is then paid out at a future predetermined date, such as retirement. This incentivizes executives to remain with the organization and rewards their long-term commitment. 5. Retirement Plans: Some long-term incentive programs for senior management in Maine provide robust retirement benefits tailored to executives. These plans may include generous employer contributions, investment options, and personalized retirement planning services. The Maine Long Term Incentive Program for Senior Management recognizes that these talented individuals play a crucial role in driving organizational success. By offering a range of rewards and incentives, companies in Maine can attract and retain top-tier executives, fostering long-term commitment and stability within their senior management teams.