Nebraska 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 The Nebraska Restricted Stock Plan of Guilford Mills, Inc. is an employee benefit program designed to incentivize and reward employees by granting them restricted stock. This plan is specific to employees who work for Guilford Mills, Inc. in the state of Nebraska. Under this plan, employees are granted restricted stock, which refers to company shares that come with certain restrictions or conditions. These restrictions often include a vesting period or specific performance criteria that employees must meet in order to fully own the shares. Until these conditions are fulfilled, the stock is considered "restricted" and subject to forfeiture if the employee leaves the company before the restrictions are lifted. The Nebraska Restricted Stock Plan of Guilford Mills, Inc. serves as a long-term retention tool, fostering employee loyalty, and motivating them to contribute to the company's success. By offering ownership in the form of restricted stock, employees are encouraged to stay with the company and work towards its growth and profitability. There are various types of restricted stock plans within the Nebraska Restricted Stock Plan of Guilford Mills, Inc., each with its own set of rules and conditions. Some common types include: 1. Time-Based Vesting: Under this type, the employee's right to the restricted stock is based on the completion of a certain period of service with the company. For example, the plan may stipulate that the stock will vest over a period of four years, with 25% vesting each year. 2. Performance-Based Vesting: Here, the vesting of the restricted stock depends on the achievement of specific performance goals or targets set by the company. These goals may be financial, operational, or any other key performance indicators deemed important for the company's success. 3. Milestone-Based Vesting: This type of plan ties the vesting of the restricted stock to the completion of predetermined milestones or events. For example, if the company reaches a certain revenue milestone or successfully launches a new product, a portion of the restricted stock may vest. 4. Accelerated Vesting: In certain circumstances, such as a change in control of the company or termination of the employee's employment due to death or disability, the Nebraska Restricted Stock Plan of Guilford Mills, Inc. may provide for accelerated vesting of the restricted stock. This ensures that employees receive the benefits of their ownership in such unforeseen situations. It is important for employees to familiarize themselves with the specific terms and conditions outlined in the Nebraska Restricted Stock Plan to fully understand how their restricted stock grants operate within Guilford Mills, Inc. in Nebraska. This plan serves as a valuable tool for Guilford Mills, Inc. to attract, retain, and motivate its workforce, creating a win-win scenario for both the company and its employees.

The Nebraska Restricted Stock Plan of Guilford Mills, Inc. is an employee benefit program designed to incentivize and reward employees by granting them restricted stock. This plan is specific to employees who work for Guilford Mills, Inc. in the state of Nebraska. Under this plan, employees are granted restricted stock, which refers to company shares that come with certain restrictions or conditions. These restrictions often include a vesting period or specific performance criteria that employees must meet in order to fully own the shares. Until these conditions are fulfilled, the stock is considered "restricted" and subject to forfeiture if the employee leaves the company before the restrictions are lifted. The Nebraska Restricted Stock Plan of Guilford Mills, Inc. serves as a long-term retention tool, fostering employee loyalty, and motivating them to contribute to the company's success. By offering ownership in the form of restricted stock, employees are encouraged to stay with the company and work towards its growth and profitability. There are various types of restricted stock plans within the Nebraska Restricted Stock Plan of Guilford Mills, Inc., each with its own set of rules and conditions. Some common types include: 1. Time-Based Vesting: Under this type, the employee's right to the restricted stock is based on the completion of a certain period of service with the company. For example, the plan may stipulate that the stock will vest over a period of four years, with 25% vesting each year. 2. Performance-Based Vesting: Here, the vesting of the restricted stock depends on the achievement of specific performance goals or targets set by the company. These goals may be financial, operational, or any other key performance indicators deemed important for the company's success. 3. Milestone-Based Vesting: This type of plan ties the vesting of the restricted stock to the completion of predetermined milestones or events. For example, if the company reaches a certain revenue milestone or successfully launches a new product, a portion of the restricted stock may vest. 4. Accelerated Vesting: In certain circumstances, such as a change in control of the company or termination of the employee's employment due to death or disability, the Nebraska Restricted Stock Plan of Guilford Mills, Inc. may provide for accelerated vesting of the restricted stock. This ensures that employees receive the benefits of their ownership in such unforeseen situations. It is important for employees to familiarize themselves with the specific terms and conditions outlined in the Nebraska Restricted Stock Plan to fully understand how their restricted stock grants operate within Guilford Mills, Inc. in Nebraska. This plan serves as a valuable tool for Guilford Mills, Inc. to attract, retain, and motivate its workforce, creating a win-win scenario for both the company and its employees.