Michigan Long Term Incentive Plan of Sierra Health Services, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-289B
• Format: Word; Rich Text

Description

18-289B 18-289B . . . Long-Term Incentive Plan under which Compensation Committee can grant incentive stock options, (b) Non-qualified Stock Options, (c) reload options (which entitle optionee, upon exercise of a stock option through delivery of previously owned shares, to automatically be granted, on date of such exercise, a new stock option (i) for a number of shares of common stock not exceeding number of shares delivered in payment of option price of original option, (ii) having an option price not less than fair market value of common stock on date of grant of reload option, (iii) having an expiration date not later than expiration date of original option, and (iv) otherwise having terms permissible for an original grant of a stock option under Plan), (d) stock appreciation rights, (e) Restricted Stock, (f) Deferred Stock, (g) Bonus Stock, (h) awards in lieu of cash obligations, and (i) other Stock-based awards, all of which may, in discretion of committee, be granted either alone or in addition to, in tandem with, or in substitution for, any other award granted under the Plan or any award granted under any other Plan The Michigan Long Term Incentive Plan (TIP) of Sierra Health Services, Inc. is a comprehensive rewards program designed to provide long-term financial incentives and retention benefits to employees. This plan aims to align the interests of the employees with the long-term strategic goals and success of the company. By offering attractive incentives, the Michigan TIP encourages employee loyalty, productivity, and commitment to the growth of Sierra Health Services, Inc. Under the Michigan TIP, there are different types of incentive plans that cater to various levels and roles within the organization. Here are some of the key types of plans: 1. Executive Incentive Plan: Specifically designed for high-level executives and top management, this plan offers substantial long-term rewards based on the achievement of predetermined performance goals and targets. These goals may include financial targets, market share growth, quality improvement, or other strategic objectives. 2. Employee Stock Ownership Plan (ESOP): This plan allows eligible employees to own company stock over time, providing them with a stake in the company's success. As employees contribute to the growth of Sierra Health Services, Inc., they benefit directly from the company's increasing value. 3. Performance-Based Incentive Plan: This plan rewards employees based on their individual or team performance, encouraging a culture of accountability and excellence. Employees receive incentives in the form of bonuses, stock options, or other financial rewards when they meet or exceed performance targets and objectives. 4. Retention Incentive Plan: Designed to retain key talent within the company, this plan provides long-term financial incentives to employees who commit to staying with Sierra Health Services, Inc. for a specified period. These incentives can include retention bonuses, stock grants, or deferred compensation plans. 5. Sales Incentive Plan: Customized for sales teams, this plan aims to boost sales performance and drive revenue growth. It offers commission-based incentives, bonuses, or profit-sharing arrangements based on sales targets achieved or exceeded. 6. Profit-Sharing Plan: This plan distributes a portion of the company's profits to eligible employees, fostering a sense of ownership and shared success. The amount distributed is determined based on a formula set by Sierra Health Services, Inc., considering factors such as individual performance, job level, or years of service. Overall, the Michigan Long Term Incentive Plan of Sierra Health Services, Inc. encompasses various types of incentive plans tailored to different categories of employees. These strategic rewards programs contribute to employee motivation, engagement, and retention, ultimately driving the company's long-term success.

The Michigan Long Term Incentive Plan (TIP) of Sierra Health Services, Inc. is a comprehensive rewards program designed to provide long-term financial incentives and retention benefits to employees. This plan aims to align the interests of the employees with the long-term strategic goals and success of the company. By offering attractive incentives, the Michigan TIP encourages employee loyalty, productivity, and commitment to the growth of Sierra Health Services, Inc. Under the Michigan TIP, there are different types of incentive plans that cater to various levels and roles within the organization. Here are some of the key types of plans: 1. Executive Incentive Plan: Specifically designed for high-level executives and top management, this plan offers substantial long-term rewards based on the achievement of predetermined performance goals and targets. These goals may include financial targets, market share growth, quality improvement, or other strategic objectives. 2. Employee Stock Ownership Plan (ESOP): This plan allows eligible employees to own company stock over time, providing them with a stake in the company's success. As employees contribute to the growth of Sierra Health Services, Inc., they benefit directly from the company's increasing value. 3. Performance-Based Incentive Plan: This plan rewards employees based on their individual or team performance, encouraging a culture of accountability and excellence. Employees receive incentives in the form of bonuses, stock options, or other financial rewards when they meet or exceed performance targets and objectives. 4. Retention Incentive Plan: Designed to retain key talent within the company, this plan provides long-term financial incentives to employees who commit to staying with Sierra Health Services, Inc. for a specified period. These incentives can include retention bonuses, stock grants, or deferred compensation plans. 5. Sales Incentive Plan: Customized for sales teams, this plan aims to boost sales performance and drive revenue growth. It offers commission-based incentives, bonuses, or profit-sharing arrangements based on sales targets achieved or exceeded. 6. Profit-Sharing Plan: This plan distributes a portion of the company's profits to eligible employees, fostering a sense of ownership and shared success. The amount distributed is determined based on a formula set by Sierra Health Services, Inc., considering factors such as individual performance, job level, or years of service. Overall, the Michigan Long Term Incentive Plan of Sierra Health Services, Inc. encompasses various types of incentive plans tailored to different categories of employees. These strategic rewards programs contribute to employee motivation, engagement, and retention, ultimately driving the company's long-term success.