20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies
Ohio Long Term Incentive Program for Senior Management
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US-CC-20-162L
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FAQ
term incentive plan (LTIP) is a company policy that rewards employees for reaching specific goals that lead to increased shareholder value. In a typical LTIP, the employee, usually an executive, must fulfill various conditions or requirements.
Incentive management is the practice of offering incentives like pay, extra time off, or a gift to employees that meet certain benchmarks or perform specific behaviors. A classic example of an incentive program is a system where a sales rep gets extra pay for closing a certain number of deals in a quarter.
Incentive management includes extra pay, rewards to employees that meet benchmarks or extra time off, this allows employees to inspire them and do better than their ordinary responsibilities.
Management Incentive Plan means the Company's bonus program, as implemented by the Company's board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.
LTIP Payout means any long-term incentive award paid to a Participant under the LTIP relating to services performed during any performance period, whether paid or not paid during such performance period or included on the Federal Income Tax Form W-2 during such performance period.
Payout Opportunity A Participant's payout target amount under the Plan is determined by pay grade as follows: The range of incentive opportunity for a Plan Participant is 0% to 200% of the Participant's total value target. This means the maximum payout that a Participant can receive from this Plan is 200%.
A MIP can be either an equity incentive plan or a cash incentive plan. It doesn't always have to result in a company giving away equity, as certain factors may preclude them from doing so. Cash-based plans usually involve either a cash bonus, pension contribution or shadow equity.
Examples of monetary employee incentives Performance bonuses. Performance bonuses are regularly scheduled cash awards that reflect employee success. ... Merit-based raises. ... Profit-sharing. ... Referral bonuses. ... Improved equipment.