Montana 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 The Montana Book Value Phantom Stock Plan of First Florida Banks, Inc. is an executive compensation program designed to incentivize and reward key employees for their contributions to the company's financial success. This plan ties the value of phantom stocks to the book value of the company, providing participants with a means to accumulate wealth alongside the growth of First Florida Banks, Inc. Through the Montana Book Value Phantom Stock Plan, eligible employees are granted phantom stock units, which are essentially hypothetical shares that mirror the actual value of the company's common stock. The value of these phantom stocks is directly correlated to the book value of First Florida Banks, Inc., making it a performance-driven compensation program. Participants in the Montana Book Value Phantom Stock Plan will experience gains or losses in the value of their phantom stocks as the book value of the company fluctuates. When the value of the company increases over time, participants will witness a growth in the value of their phantom stocks, reflecting the enhanced financial health of First Florida Banks, Inc. Conversely, if the book value declines, participants may experience a decrease in the value of their phantom stocks. This plan serves as a long-term incentive, motivating employees to work towards the financial success and sustainability of First Florida Banks, Inc. By aligning their interests with the company's book value, employees are encouraged to make decisions and strategies that contribute effectively to the growth of the business. Within the Montana Book Value Phantom Stock Plan, there may be different variations or levels offered to employees. These variations can include: 1. Standard Montana Book Value Phantom Stock Plan: This is the basic version of the plan, offered to eligible employees, which grants them phantom stock units based on the book value of First Florida Banks, Inc. 2. Montana Book Value Phantom Stock Plan Plus: This premium version of the plan may be extended to high-performing or senior-level employees. It offers additional benefits, such as accelerated vesting schedules, higher phantom stock allocations, or increased dividend equivalents. 3. Montana Book Value Phantom Stock Plan for Executives: This specialized plan targets top-level executives within First Florida Banks, Inc., providing them with an enhanced set of benefits and rewards. Such benefits could include larger phantom stock grants, preferential dividend equivalents, or access to exclusive performance-based bonuses tied to company goals. The Montana Book Value Phantom Stock Plan of First Florida Banks, Inc. aims to foster a culture of employee commitment, aligning the interests of key individuals with the overall success and growth of the organization while also driving long-term value creation.

The Montana Book Value Phantom Stock Plan of First Florida Banks, Inc. is an executive compensation program designed to incentivize and reward key employees for their contributions to the company's financial success. This plan ties the value of phantom stocks to the book value of the company, providing participants with a means to accumulate wealth alongside the growth of First Florida Banks, Inc. Through the Montana Book Value Phantom Stock Plan, eligible employees are granted phantom stock units, which are essentially hypothetical shares that mirror the actual value of the company's common stock. The value of these phantom stocks is directly correlated to the book value of First Florida Banks, Inc., making it a performance-driven compensation program. Participants in the Montana Book Value Phantom Stock Plan will experience gains or losses in the value of their phantom stocks as the book value of the company fluctuates. When the value of the company increases over time, participants will witness a growth in the value of their phantom stocks, reflecting the enhanced financial health of First Florida Banks, Inc. Conversely, if the book value declines, participants may experience a decrease in the value of their phantom stocks. This plan serves as a long-term incentive, motivating employees to work towards the financial success and sustainability of First Florida Banks, Inc. By aligning their interests with the company's book value, employees are encouraged to make decisions and strategies that contribute effectively to the growth of the business. Within the Montana Book Value Phantom Stock Plan, there may be different variations or levels offered to employees. These variations can include: 1. Standard Montana Book Value Phantom Stock Plan: This is the basic version of the plan, offered to eligible employees, which grants them phantom stock units based on the book value of First Florida Banks, Inc. 2. Montana Book Value Phantom Stock Plan Plus: This premium version of the plan may be extended to high-performing or senior-level employees. It offers additional benefits, such as accelerated vesting schedules, higher phantom stock allocations, or increased dividend equivalents. 3. Montana Book Value Phantom Stock Plan for Executives: This specialized plan targets top-level executives within First Florida Banks, Inc., providing them with an enhanced set of benefits and rewards. Such benefits could include larger phantom stock grants, preferential dividend equivalents, or access to exclusive performance-based bonuses tied to company goals. The Montana Book Value Phantom Stock Plan of First Florida Banks, Inc. aims to foster a culture of employee commitment, aligning the interests of key individuals with the overall success and growth of the organization while also driving long-term value creation.