South Dakota Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares The South Dakota Restricted Stock Plan implemented by Guilford Mills, Inc. is a comprehensive program designed to incentivize and reward its employees by providing them with restricted stock grants. These grants are granted with certain limitations and restrictions that serve as an added layer of motivation and commitment for employees to contribute to the company's long-term success. Under this plan, Guilford Mills, Inc. offers two types of restricted stock grants to its employees: time-based restricted stock units (RSS) and performance-based restricted stock units (Plus). 1. Time-based RSS: These grants are awarded to employees based on their length of service to the company. Time-based RSS typically have a vesting schedule, meaning that the employee receives ownership of a certain percentage of the granted shares over a specific period of time. For example, an employee might receive 1,000 RSS with a three-year vesting period, entitling them to 333 shares after the first year, 666 shares after the second year, and the full 1,000 shares after the third year. 2. Performance-based Plus: These grants are contingent upon the achievement of specific performance metrics by the employee or the company as a whole. Guilford Mills, Inc. sets predetermined targets, such as financial goals or operational milestones, that need to be met for Plus to vest. It encourages employees to actively contribute toward the company's growth and success by aligning their personal goals with those of the organization. The South Dakota Restricted Stock Plan of Guilford Mills, Inc. serves as a valuable tool for attracting and retaining talented individuals, promoting employee loyalty, and fostering a sense of ownership among the workforce. By granting employees a stake in the company's equity, Guilford Mills aims to create a shared interest in driving company performance, motivating employees to go above and beyond their regular responsibilities. It is important to note that the South Dakota Restricted Stock Plan of Guilford Mills, Inc. adheres to the laws and regulations specific to South Dakota, ensuring compliance with state legislative requirements. The plan is carefully structured to reward employees for their dedication, contribution, and achievements while aligning company interests with the long-term interests of the employees. Overall, Guilford Mills, Inc. views the plan as an essential component of its compensation strategy, facilitating employee engagement, and facilitating the company's overall growth and success.

The South Dakota Restricted Stock Plan implemented by Guilford Mills, Inc. is a comprehensive program designed to incentivize and reward its employees by providing them with restricted stock grants. These grants are granted with certain limitations and restrictions that serve as an added layer of motivation and commitment for employees to contribute to the company's long-term success. Under this plan, Guilford Mills, Inc. offers two types of restricted stock grants to its employees: time-based restricted stock units (RSS) and performance-based restricted stock units (Plus). 1. Time-based RSS: These grants are awarded to employees based on their length of service to the company. Time-based RSS typically have a vesting schedule, meaning that the employee receives ownership of a certain percentage of the granted shares over a specific period of time. For example, an employee might receive 1,000 RSS with a three-year vesting period, entitling them to 333 shares after the first year, 666 shares after the second year, and the full 1,000 shares after the third year. 2. Performance-based Plus: These grants are contingent upon the achievement of specific performance metrics by the employee or the company as a whole. Guilford Mills, Inc. sets predetermined targets, such as financial goals or operational milestones, that need to be met for Plus to vest. It encourages employees to actively contribute toward the company's growth and success by aligning their personal goals with those of the organization. The South Dakota Restricted Stock Plan of Guilford Mills, Inc. serves as a valuable tool for attracting and retaining talented individuals, promoting employee loyalty, and fostering a sense of ownership among the workforce. By granting employees a stake in the company's equity, Guilford Mills aims to create a shared interest in driving company performance, motivating employees to go above and beyond their regular responsibilities. It is important to note that the South Dakota Restricted Stock Plan of Guilford Mills, Inc. adheres to the laws and regulations specific to South Dakota, ensuring compliance with state legislative requirements. The plan is carefully structured to reward employees for their dedication, contribution, and achievements while aligning company interests with the long-term interests of the employees. Overall, Guilford Mills, Inc. views the plan as an essential component of its compensation strategy, facilitating employee engagement, and facilitating the company's overall growth and success.