Maine Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares Maine Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive employee compensation plan offered by Guilford Mills, Inc., a prominent textile manufacturing company in Maine, United States. This plan aims to provide eligible employees with an opportunity to obtain company stock through a restricted stock grant. The Maine Restricted Stock Plan of Guilford Mills, Inc. is designed to align the interests of employees with that of the company's shareholders, foster loyalty, and incentivize long-term commitment. The Maine Restricted Stock Plan of Guilford Mills, Inc. provides eligible employees with a specific number of company shares, typically subject to certain vesting requirements. Vesting requirements determine the duration an employee must remain with the company to gain full ownership of the granted shares. This structure encourages employees to stay with the company for a predetermined period, thereby reducing turnover and promoting dedication. There are two primary types of Maine Restricted Stock Plans available at Guilford Mills, Inc., including the time-based and performance-based restricted stock plans. 1. Time-Based Restricted Stock Plan: This plan grants eligible employees a specified number of shares, which may vest over time. Employees receive ownership of a portion of the granted shares upon completion of predetermined time milestones. For example, an employee might receive 25% of the granted shares after one year and the remaining 75% over the subsequent three years. 2. Performance-Based Restricted Stock Plan: Unlike the time-based plan, the performance-based restricted stock plan's vesting is conditioned upon achieving certain performance criteria or goals set by Guilford Mills, Inc. This type of plan aligns employee incentives with the company's performance objectives, encouraging employees to contribute to the company's success. Once the pre-established goals are met, employees gain ownership of the granted shares. Both types of Maine Restricted Stock Plans of Guilford Mills, Inc. offer employees an opportunity to participate in the company's success and benefit from its growth. This encourages employees to remain committed, productive, and focused on achieving the company's long-term objectives. Guilford Mills, Inc. recognizes the importance of attracting and retaining talented professionals, and the Maine Restricted Stock Plan serves as a valuable tool in achieving this goal. Note: The specific details of the Maine Restricted Stock Plan of Guilford Mills, Inc. may vary. Employees are encouraged to refer to the official plan documentation and consult with company representatives for accurate and up-to-date information.

Maine Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive employee compensation plan offered by Guilford Mills, Inc., a prominent textile manufacturing company in Maine, United States. This plan aims to provide eligible employees with an opportunity to obtain company stock through a restricted stock grant. The Maine Restricted Stock Plan of Guilford Mills, Inc. is designed to align the interests of employees with that of the company's shareholders, foster loyalty, and incentivize long-term commitment. The Maine Restricted Stock Plan of Guilford Mills, Inc. provides eligible employees with a specific number of company shares, typically subject to certain vesting requirements. Vesting requirements determine the duration an employee must remain with the company to gain full ownership of the granted shares. This structure encourages employees to stay with the company for a predetermined period, thereby reducing turnover and promoting dedication. There are two primary types of Maine Restricted Stock Plans available at Guilford Mills, Inc., including the time-based and performance-based restricted stock plans. 1. Time-Based Restricted Stock Plan: This plan grants eligible employees a specified number of shares, which may vest over time. Employees receive ownership of a portion of the granted shares upon completion of predetermined time milestones. For example, an employee might receive 25% of the granted shares after one year and the remaining 75% over the subsequent three years. 2. Performance-Based Restricted Stock Plan: Unlike the time-based plan, the performance-based restricted stock plan's vesting is conditioned upon achieving certain performance criteria or goals set by Guilford Mills, Inc. This type of plan aligns employee incentives with the company's performance objectives, encouraging employees to contribute to the company's success. Once the pre-established goals are met, employees gain ownership of the granted shares. Both types of Maine Restricted Stock Plans of Guilford Mills, Inc. offer employees an opportunity to participate in the company's success and benefit from its growth. This encourages employees to remain committed, productive, and focused on achieving the company's long-term objectives. Guilford Mills, Inc. recognizes the importance of attracting and retaining talented professionals, and the Maine Restricted Stock Plan serves as a valuable tool in achieving this goal. Note: The specific details of the Maine Restricted Stock Plan of Guilford Mills, Inc. may vary. Employees are encouraged to refer to the official plan documentation and consult with company representatives for accurate and up-to-date information.