The Orange California Officer Long Term Incentive Compensation Plan is a comprehensive program implemented by Southern California Edison Co. (SHE) to attract, retain, and motivate its officers in Orange County, California. This compensation plan aims to reward top performing executives for their long-term strategic contributions and align their interests with those of the company and its shareholders. Under this plan, SHE offers various types of long-term incentive compensation, keeping in mind the unique needs of Orange California officers. These compensation components include: 1. Performance Share Units (Plus): These units are an integral part of the Orange California Officer Long Term Incentive Compensation Plan. They are granted to executives based on their individual and company performance against predetermined goals and objectives. Plus are designed to provide officers with an opportunity to earn additional compensation based on exceptional achievements over a specified performance period. 2. Restricted Stock Units (RSS): SHE may also grant RSS to Orange California officers as part of their long-term incentive compensation. RSS represents an agreement to receive SHE companies stock at a future date, subject to certain performance conditions or a vesting schedule. They serve as a retention tool by encouraging executives to remain with the company and work towards its long-term growth. 3. Cash Incentive Plans: In addition to Plus and RSS, Orange California officers may be eligible for cash incentives under specific performance-based plans. These plans typically involve the opportunity to earn additional compensation based on the attainment of predetermined financial, operational, or strategic objectives. Cash incentives are an effective way to reward officers for their individual and collective contributions to SHE's success. 4. Performance Cash Units (PCUS): The Orange California Officer Long Term Incentive Compensation Plan may also include PCUS, which are cash-based awards tied to individual and/or company performance. PCUS provide additional financial incentives to officers and further align their compensation with SHE's overall performance and strategic goals. 5. Stock Options: Although not specific to Orange California officers, stock options may be a part of SHE's broader long-term incentive compensation program. They give executives the right to purchase SHE stock at a predetermined price within a specified timeframe. Stock options serve as an effective tool for promoting stock ownership and giving officers a vested interest in the company's long-term growth and financial performance. It is important to note that the specific types and details of the Orange California Officer Long Term Incentive Compensation Plan may vary based on factors such as an executive's position, experience, and performance. The plan is designed to motivate and retain talented officers in Orange County, while driving value for SHE and its shareholders.
Orange California Officer Long Term Incentive Compensation Plan for Southern California Edison Co.
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