Nevada Management Long Term Incentive Compensation Plan of of SCEcorp

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-268B
• Format: Word; Rich Text

Description

18-268B 18-268B . . . Management Long Term Incentive Compensation Plan under which compensation committee can grant (i) stock appreciation equivalents (hypothetical stock "units" which are granted to participant and upon which value of any incentive award is calculated), (ii) dividend equivalents (which represent value of dividends per share paid by corporation, calculated upon stock or stock units held by participant and which, if objectives set by committee are met, are paid to participant), (iii) Non-qualified Stock Options, (iv) incentive stock options, (v) restricted stock, (vi) stock appreciation rights, and (vii) performance awards The Nevada Management Long Term Incentive Compensation Plan of Suncorp is a comprehensive rewards program designed to attract, retain, and motivate talented individuals within the company. This plan offers various types of incentives to eligible Nevada based employees of Suncorp, encouraging long-term commitment and performance excellence. One type of incentive within this program is the Equity-Linked Performance Award. This component of the plan provides participants with the opportunity to earn additional compensation through the company's stock. Eligible employees are granted a certain number of stock units, which vest over a predetermined period of time based on predetermined performance targets and goals. Another component of the Nevada Management Long Term Incentive Compensation Plan is the Cash Performance Award. This type of incentive involves providing eligible employees with cash bonuses based on the achievement of specific performance objectives. These objectives are typically aligned with the overall success and growth of Suncorp. In order to align the interests of employees with investors, the plan also includes a Stock Ownership Requirement. This requirement mandates that participants maintain a certain level of ownership in the company's stock, promoting a sense of ownership and accountability. Furthermore, the Nevada Management Long Term Incentive Compensation Plan acknowledges the need for flexibility in attracting and retaining top talent. Therefore, it may also include a Sign-On Bonus component for new hires or those transitioning into key positions within the organization. This bonus serves as an additional incentive to join or stay with Suncorp, providing a competitive edge in the job market. Overall, the Nevada Management Long Term Incentive Compensation Plan of Suncorp is a comprehensive and multi-faceted rewards program that combines equity-based rewards, cash performance awards, stock ownership requirements, and sign-on bonuses. By utilizing these various incentives, Suncorp aims to motivate employees, drive performance, and align the interests of its talented workforce with the long-term success of the company.

The Nevada Management Long Term Incentive Compensation Plan of Suncorp is a comprehensive rewards program designed to attract, retain, and motivate talented individuals within the company. This plan offers various types of incentives to eligible Nevada based employees of Suncorp, encouraging long-term commitment and performance excellence. One type of incentive within this program is the Equity-Linked Performance Award. This component of the plan provides participants with the opportunity to earn additional compensation through the company's stock. Eligible employees are granted a certain number of stock units, which vest over a predetermined period of time based on predetermined performance targets and goals. Another component of the Nevada Management Long Term Incentive Compensation Plan is the Cash Performance Award. This type of incentive involves providing eligible employees with cash bonuses based on the achievement of specific performance objectives. These objectives are typically aligned with the overall success and growth of Suncorp. In order to align the interests of employees with investors, the plan also includes a Stock Ownership Requirement. This requirement mandates that participants maintain a certain level of ownership in the company's stock, promoting a sense of ownership and accountability. Furthermore, the Nevada Management Long Term Incentive Compensation Plan acknowledges the need for flexibility in attracting and retaining top talent. Therefore, it may also include a Sign-On Bonus component for new hires or those transitioning into key positions within the organization. This bonus serves as an additional incentive to join or stay with Suncorp, providing a competitive edge in the job market. Overall, the Nevada Management Long Term Incentive Compensation Plan of Suncorp is a comprehensive and multi-faceted rewards program that combines equity-based rewards, cash performance awards, stock ownership requirements, and sign-on bonuses. By utilizing these various incentives, Suncorp aims to motivate employees, drive performance, and align the interests of its talented workforce with the long-term success of the company.