Nevada 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 Nevada Book Value Phantom Stock Plan of First Florida Banks, Inc. is a unique compensation program designed to reward key employees with stock-like benefits based on the book value of the company. This plan offers various features and benefits that make it an appealing option for executives and key employees. The Nevada Book Value Phantom Stock Plan is an equity-based compensation plan that operates on a phantom stock concept, meaning participants receive hypothetical units that mimic the value of actual company shares. The plan utilizes the book value of First Florida Banks, Inc., a financial institution located in Nevada, as the determining factor for stock unit valuation. This innovative plan functions as a tool to motivate and retain top talent within First Florida Banks, Inc., while aligning their interests with the company's long-term success. By tying compensation to the book value, employees are incentivized to contribute to the growth and profitability of the company, as the higher the book value, the higher the value of their phantom stock units. Different types or variations of the Nevada Book Value Phantom Stock Plan may exist, each tailored to meet specific employee groups or objectives. Here are a few possible variations: 1. Executive Nevada Book Value Phantom Stock Plan: This plan is typically designed for top-level executives within First Florida Banks, Inc. It offers enhanced rewards and benefits to executives who play a crucial role in driving the company's strategic decisions, growth, and profitability. 2. Key Employee Nevada Book Value Phantom Stock Plan: This variation aims to reward key employees who hold significant positions and contribute directly to the success of the organization. It serves as a means of recognition and retention for valuable employees who are critical to the company's operations. 3. Performance-based Nevada Book Value Phantom Stock Plan: This type of plan incorporates performance metrics and targets, linking the value of the phantom stock units to the specific achievements of the employees or the company. It encourages superior performance and ensures that rewards align with predetermined goals. 4. Long-term Incentive Nevada Book Value Phantom Stock Plan: This plan focuses on attracting and retaining talent by offering long-term incentives tied to the book value of First Florida Banks, Inc. It may include vesting periods or other mechanisms to encourage commitment and loyalty. In conclusion, the Nevada Book Value Phantom Stock Plan of First Florida Banks, Inc. is a flexible and incentivizing compensation program that utilizes the book value of the company's stock to reward key employees. By implementing different variations of the plan, First Florida Banks, Inc. can effectively cater to the diverse needs and objectives of its executive team and employees, fostering a culture of growth, performance, and long-term commitment.

The Nevada Book Value Phantom Stock Plan of First Florida Banks, Inc. is a unique compensation program designed to reward key employees with stock-like benefits based on the book value of the company. This plan offers various features and benefits that make it an appealing option for executives and key employees. The Nevada Book Value Phantom Stock Plan is an equity-based compensation plan that operates on a phantom stock concept, meaning participants receive hypothetical units that mimic the value of actual company shares. The plan utilizes the book value of First Florida Banks, Inc., a financial institution located in Nevada, as the determining factor for stock unit valuation. This innovative plan functions as a tool to motivate and retain top talent within First Florida Banks, Inc., while aligning their interests with the company's long-term success. By tying compensation to the book value, employees are incentivized to contribute to the growth and profitability of the company, as the higher the book value, the higher the value of their phantom stock units. Different types or variations of the Nevada Book Value Phantom Stock Plan may exist, each tailored to meet specific employee groups or objectives. Here are a few possible variations: 1. Executive Nevada Book Value Phantom Stock Plan: This plan is typically designed for top-level executives within First Florida Banks, Inc. It offers enhanced rewards and benefits to executives who play a crucial role in driving the company's strategic decisions, growth, and profitability. 2. Key Employee Nevada Book Value Phantom Stock Plan: This variation aims to reward key employees who hold significant positions and contribute directly to the success of the organization. It serves as a means of recognition and retention for valuable employees who are critical to the company's operations. 3. Performance-based Nevada Book Value Phantom Stock Plan: This type of plan incorporates performance metrics and targets, linking the value of the phantom stock units to the specific achievements of the employees or the company. It encourages superior performance and ensures that rewards align with predetermined goals. 4. Long-term Incentive Nevada Book Value Phantom Stock Plan: This plan focuses on attracting and retaining talent by offering long-term incentives tied to the book value of First Florida Banks, Inc. It may include vesting periods or other mechanisms to encourage commitment and loyalty. In conclusion, the Nevada Book Value Phantom Stock Plan of First Florida Banks, Inc. is a flexible and incentivizing compensation program that utilizes the book value of the company's stock to reward key employees. By implementing different variations of the plan, First Florida Banks, Inc. can effectively cater to the diverse needs and objectives of its executive team and employees, fostering a culture of growth, performance, and long-term commitment.