Rhode Island Executive Incentive Plan

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-270
• Format: Word; Rich Text

Description

20-270 20-270 . . . Executive Incentive Plan under which corporation can award restricted stock and units. Restricted stock consists of common stock of corporation which contains restrictions on transfer and forfeiture in event of termination of employment prior to expiration of time period specified in grant. units are equivalent of corporation's book value per share and are issued and credited on corporation's books to employees on condition that said units must be resold to corporation. Corporation must purchase units at end of 5 year incentive period or upon termination of employment (whichever comes first) for amount equivalent to book value at that time plus dividends declared during incentive period and less book value on date of grant The Rhode Island Executive Incentive Plan is a program designed to attract and retain top executives in the state of Rhode Island. It offers various incentives to employers who meet certain criteria and promote economic growth in the region. This plan aims to create a business-friendly environment, stimulate job opportunities, and enhance the state's overall economic prosperity. Under the Rhode Island Executive Incentive Plan, there are several types of programs available: 1. Job Creation Incentive Program: This program provides incentives to businesses that create a certain number of new, full-time positions within a specified timeframe. Employers can receive financial assistance, tax credits, or grants, depending on the number of jobs generated. 2. Innovation Initiative: This program encourages innovation and promotes the development of cutting-edge technologies in Rhode Island. It offers incentives to companies involved in research and development activities or those implementing new technologies, including tax credits and grants. 3. Workforce Training Grants: The Rhode Island Executive Incentive Plan also includes grants aimed at enhancing the skills of the workforce. This program assists employers in providing training and professional development opportunities to their employees, ensuring a highly skilled workforce in the state. 4. Small Business Loan Programs: There are specific loan programs available to support small businesses in Rhode Island. These loans provide financial assistance to startups or small enterprises looking to expand their operations or invest in new projects. 5. Brownfield Redevelopment Program: This initiative focuses on revitalizing and redeveloping underutilized or contaminated properties, known as brownfield, to spur economic growth. Businesses engaged in brownfield redevelopment projects may qualify for tax credits and other financial incentives. Keywords: Rhode Island, Executive Incentive Plan, incentives, economic growth, job creation, innovation, research and development, workforce training, small business loans, brownfield redevelopment, tax credits, grants.

The Rhode Island Executive Incentive Plan is a program designed to attract and retain top executives in the state of Rhode Island. It offers various incentives to employers who meet certain criteria and promote economic growth in the region. This plan aims to create a business-friendly environment, stimulate job opportunities, and enhance the state's overall economic prosperity. Under the Rhode Island Executive Incentive Plan, there are several types of programs available: 1. Job Creation Incentive Program: This program provides incentives to businesses that create a certain number of new, full-time positions within a specified timeframe. Employers can receive financial assistance, tax credits, or grants, depending on the number of jobs generated. 2. Innovation Initiative: This program encourages innovation and promotes the development of cutting-edge technologies in Rhode Island. It offers incentives to companies involved in research and development activities or those implementing new technologies, including tax credits and grants. 3. Workforce Training Grants: The Rhode Island Executive Incentive Plan also includes grants aimed at enhancing the skills of the workforce. This program assists employers in providing training and professional development opportunities to their employees, ensuring a highly skilled workforce in the state. 4. Small Business Loan Programs: There are specific loan programs available to support small businesses in Rhode Island. These loans provide financial assistance to startups or small enterprises looking to expand their operations or invest in new projects. 5. Brownfield Redevelopment Program: This initiative focuses on revitalizing and redeveloping underutilized or contaminated properties, known as brownfield, to spur economic growth. Businesses engaged in brownfield redevelopment projects may qualify for tax credits and other financial incentives. Keywords: Rhode Island, Executive Incentive Plan, incentives, economic growth, job creation, innovation, research and development, workforce training, small business loans, brownfield redevelopment, tax credits, grants.