Oregon Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-174D
• Format: Word; Rich Text

Description

20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited The Oregon Long Term Performance and Restricted Stock Incentive Plan is a comprehensive compensation program introduced by INALCOL Enterprises, Inc. This plan aims to reward and retain its employees by offering long-term incentive awards comprising restricted stock units. These awards are granted to eligible participants based on performance metrics and specific conditions outlined in the plan. The Oregon Long Term Performance and Restricted Stock Incentive Plan serves as a crucial tool for INALCOL Enterprises, Inc. to motivate its workforce, align their interests with shareholders, and promote sustained growth. By tying rewards to long-term performance, the company seeks to create a culture of accountability and ownership among its employees. Under this plan, INALCOL Enterprises, Inc. offers two main types of awards: Performance-Based Restricted Stock Units and Time-Based Restricted Stock Units. 1. Performance-Based Restricted Stock Units: These awards are granted to eligible participants based on predefined performance goals determined by the company. The achievement of these goals is evaluated over a specified performance period. If the performance targets are met, participants receive a certain number of restricted stock units as a reward. These units entitle participants to receive shares of INALCOL Enterprises, Inc.'s common stock at a later date, as per the plan's provisions. 2. Time-Based Restricted Stock Units: In addition to the performance-based awards, INALCOL Enterprises, Inc. also grants time-based restricted stock units to eligible participants. These units are typically granted on an annual basis to incentivize long-term commitment and retention. Participants receive a predetermined number of restricted stock units, subject to vesting conditions outlined in the plan. Vesting periods often span multiple years, ensuring that participants remain with the company and contribute to its long-term objectives. Both types of awards are subject to various terms and conditions laid out in the Oregon Long Term Performance and Restricted Stock Incentive Plan. These include provisions such as vesting schedules, forfeiture clauses, change of control provisions, and the treatment of awards in case of termination or retirement. The plan also emphasizes the importance of adherence to corporate governance policies and compliance with applicable laws and regulations. Overall, INALCOL Enterprises, Inc.'s Oregon Long Term Performance and Restricted Stock Incentive Plan is a robust compensation program that seeks to foster long-term growth, employee retention, and align employee interests with shareholder value. Through carefully designed performance metrics and incentives, the plan aims to drive excellence and commitment among its workforce while establishing a clear link between individual performance and company success.

The Oregon Long Term Performance and Restricted Stock Incentive Plan is a comprehensive compensation program introduced by INALCOL Enterprises, Inc. This plan aims to reward and retain its employees by offering long-term incentive awards comprising restricted stock units. These awards are granted to eligible participants based on performance metrics and specific conditions outlined in the plan. The Oregon Long Term Performance and Restricted Stock Incentive Plan serves as a crucial tool for INALCOL Enterprises, Inc. to motivate its workforce, align their interests with shareholders, and promote sustained growth. By tying rewards to long-term performance, the company seeks to create a culture of accountability and ownership among its employees. Under this plan, INALCOL Enterprises, Inc. offers two main types of awards: Performance-Based Restricted Stock Units and Time-Based Restricted Stock Units. 1. Performance-Based Restricted Stock Units: These awards are granted to eligible participants based on predefined performance goals determined by the company. The achievement of these goals is evaluated over a specified performance period. If the performance targets are met, participants receive a certain number of restricted stock units as a reward. These units entitle participants to receive shares of INALCOL Enterprises, Inc.'s common stock at a later date, as per the plan's provisions. 2. Time-Based Restricted Stock Units: In addition to the performance-based awards, INALCOL Enterprises, Inc. also grants time-based restricted stock units to eligible participants. These units are typically granted on an annual basis to incentivize long-term commitment and retention. Participants receive a predetermined number of restricted stock units, subject to vesting conditions outlined in the plan. Vesting periods often span multiple years, ensuring that participants remain with the company and contribute to its long-term objectives. Both types of awards are subject to various terms and conditions laid out in the Oregon Long Term Performance and Restricted Stock Incentive Plan. These include provisions such as vesting schedules, forfeiture clauses, change of control provisions, and the treatment of awards in case of termination or retirement. The plan also emphasizes the importance of adherence to corporate governance policies and compliance with applicable laws and regulations. Overall, INALCOL Enterprises, Inc.'s Oregon Long Term Performance and Restricted Stock Incentive Plan is a robust compensation program that seeks to foster long-term growth, employee retention, and align employee interests with shareholder value. Through carefully designed performance metrics and incentives, the plan aims to drive excellence and commitment among its workforce while establishing a clear link between individual performance and company success.