North Carolina Long Term Incentive Plan of Life Re Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-121
• Format: Word; Rich Text

Description

20-121 20-121 . . . Long-Term Incentive Plan for three executives of corporation. Material terms of performance goals established for participants are based upon results of certain transactions including acquisitions of assets, blocks of business, or other entities, mergers, or gains from the disposition of certain investments (Triggering Event). A bonus pool is created upon occurrence of each Triggering Event to be divided among participants according to participation units specified by the Compensation Committee. Pool equals percentage of amount involved in applicable transaction; maximum percentage is five percent of amount involved The North Carolina Long Term Incentive Plan of Life Re Corp. is a comprehensive and strategic program designed to incentivize and reward employees for their long-term commitment, loyalty, and performance within the organization. It serves as a motivating factor for employees to contribute their best efforts to achieve the company's objectives and enhance overall growth. Keywords: North Carolina, Long Term Incentive Plan, Life Re Corp., employees, commitment, loyalty, performance, motivation, rewarding. Different types of North Carolina Long Term Incentive Plans offered by Life Re Corp. include: 1. Performance-based Incentive Plan: This plan consists of rewards linked directly to the employee's performance and contribution to company goals. It is designed to encourage individuals to exceed expectations and achieve targets set by the organization. 2. Stock Option Plan: As part of this plan, eligible employees are granted the option to purchase company stock at a specified price within a predetermined timeframe. This allows employees to benefit from the potential appreciation of the company's stock value over time. 3. Cash Bonus Plan: Under this plan, employees may receive cash bonuses based on their individual or team performance, financial achievements, or meeting specific milestones. It serves as an immediate monetary reward for exceptional performance. 4. Retirement Savings Plan: Life Re Corp. offers a retirement savings plan in which employees can contribute a portion of their salary on a pre-tax basis, allowing them to save for their post-employment years. The company often matches a percentage of the employee's contributions, providing additional financial incentives for long-term commitment. 5. Performance Share Units (Plus) Plan: This plan grants employees shares or units based on predetermined performance metrics, such as revenue growth or market share increase. These share units may vest over a specified period and can be converted into company stock when certain conditions are met. 6. Employee Stock Purchase Plan (ESPN): Through this plan, employees have the opportunity to purchase company stock at a discounted price, typically through payroll deductions. This encourages employees to become company shareholders and benefit from the potential long-term value growth. The North Carolina Long Term Incentive Plan of Life Re Corp. demonstrates the organization's commitment to valuing and rewarding its workforce, fostering a culture of performance excellence, and promoting long-term loyalty and engagement.

The North Carolina Long Term Incentive Plan of Life Re Corp. is a comprehensive and strategic program designed to incentivize and reward employees for their long-term commitment, loyalty, and performance within the organization. It serves as a motivating factor for employees to contribute their best efforts to achieve the company's objectives and enhance overall growth. Keywords: North Carolina, Long Term Incentive Plan, Life Re Corp., employees, commitment, loyalty, performance, motivation, rewarding. Different types of North Carolina Long Term Incentive Plans offered by Life Re Corp. include: 1. Performance-based Incentive Plan: This plan consists of rewards linked directly to the employee's performance and contribution to company goals. It is designed to encourage individuals to exceed expectations and achieve targets set by the organization. 2. Stock Option Plan: As part of this plan, eligible employees are granted the option to purchase company stock at a specified price within a predetermined timeframe. This allows employees to benefit from the potential appreciation of the company's stock value over time. 3. Cash Bonus Plan: Under this plan, employees may receive cash bonuses based on their individual or team performance, financial achievements, or meeting specific milestones. It serves as an immediate monetary reward for exceptional performance. 4. Retirement Savings Plan: Life Re Corp. offers a retirement savings plan in which employees can contribute a portion of their salary on a pre-tax basis, allowing them to save for their post-employment years. The company often matches a percentage of the employee's contributions, providing additional financial incentives for long-term commitment. 5. Performance Share Units (Plus) Plan: This plan grants employees shares or units based on predetermined performance metrics, such as revenue growth or market share increase. These share units may vest over a specified period and can be converted into company stock when certain conditions are met. 6. Employee Stock Purchase Plan (ESPN): Through this plan, employees have the opportunity to purchase company stock at a discounted price, typically through payroll deductions. This encourages employees to become company shareholders and benefit from the potential long-term value growth. The North Carolina Long Term Incentive Plan of Life Re Corp. demonstrates the organization's commitment to valuing and rewarding its workforce, fostering a culture of performance excellence, and promoting long-term loyalty and engagement.