Santa Clara California Officer Long Term Incentive Compensation Plan for Southern California Edison Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Santa Clara
• Control #: US-CC-18-266C
• Format: Word; Rich Text

Description

18-266C 18-266C . . . Officer Long Term Incentive Compensation Plan under which compensation committee can grant (i) stock appreciation equivalents (hypothetical stock "units" which are granted to participant and upon which value of any incentive award is calculated), (ii) dividend equivalents (which represent value of dividends per share paid by corporation, calculated upon stock or stock units held by participant and which, if objectives set by committee are met, are paid to participant), (iii) Non-qualified Stock Options, (iv) incentive stock options, (v) restricted stock, (vi) stock appreciation rights, and (vii) performance awards The Santa Clara California Officer Long Term Incentive Compensation Plan is a program designed for key executives and officers of Southern California Edison Co. This performance-based compensation plan aims to attract and retain top talent by offering long-term incentives in addition to their base salary and short-term incentives. Under this plan, eligible officers have the opportunity to earn additional compensation based on the achievement of predetermined performance goals and targets over a specified period. These goals may include financial performance metrics, operational targets, customer satisfaction indicators, or other relevant objectives. The plan is structured to align the interests of the executives with the long-term success and growth of Southern California Edison Co. The Santa Clara California Officer Long Term Incentive Compensation Plan is divided into several types, each with its own parameters and criteria: 1. Annual Performance-Based Equity Grants: Eligible officers may receive annual grants of equity-based awards such as stock options, restricted stock units (RSS), or performance shares. These grants are subject to vesting periods and may be tied to achieving specific performance goals, both individual and company-wide. 2. Performance Cash Awards: In addition to equity grants, officers may be eligible for performance cash awards. These awards are based on the attainment of predetermined performance targets and can be paid out in cash or a combination of cash and equity. 3. Deferred Compensation: The plan may also include provisions for officers to defer a portion of their eligible compensation into long-term investment vehicles, such as a deferred compensation plan or a qualified retirement savings plan. This allows officers to further align their financial interests with the long-term success of the company. 4. Change in Control Provisions: To protect the interests of officers in the event of a change in control or corporate restructuring, the plan may include provisions that trigger accelerated vesting of equity awards or provide severance benefits. The Santa Clara California Officer Long Term Incentive Compensation Plan for Southern California Edison Co. is designed to reward and motivate top executives while fostering their commitment to the company's long-term growth and success. It ensures alignment between executive compensation and the achievement of strategic objectives, ultimately benefiting both the officers and the company as a whole.

The Santa Clara California Officer Long Term Incentive Compensation Plan is a program designed for key executives and officers of Southern California Edison Co. This performance-based compensation plan aims to attract and retain top talent by offering long-term incentives in addition to their base salary and short-term incentives. Under this plan, eligible officers have the opportunity to earn additional compensation based on the achievement of predetermined performance goals and targets over a specified period. These goals may include financial performance metrics, operational targets, customer satisfaction indicators, or other relevant objectives. The plan is structured to align the interests of the executives with the long-term success and growth of Southern California Edison Co. The Santa Clara California Officer Long Term Incentive Compensation Plan is divided into several types, each with its own parameters and criteria: 1. Annual Performance-Based Equity Grants: Eligible officers may receive annual grants of equity-based awards such as stock options, restricted stock units (RSS), or performance shares. These grants are subject to vesting periods and may be tied to achieving specific performance goals, both individual and company-wide. 2. Performance Cash Awards: In addition to equity grants, officers may be eligible for performance cash awards. These awards are based on the attainment of predetermined performance targets and can be paid out in cash or a combination of cash and equity. 3. Deferred Compensation: The plan may also include provisions for officers to defer a portion of their eligible compensation into long-term investment vehicles, such as a deferred compensation plan or a qualified retirement savings plan. This allows officers to further align their financial interests with the long-term success of the company. 4. Change in Control Provisions: To protect the interests of officers in the event of a change in control or corporate restructuring, the plan may include provisions that trigger accelerated vesting of equity awards or provide severance benefits. The Santa Clara California Officer Long Term Incentive Compensation Plan for Southern California Edison Co. is designed to reward and motivate top executives while fostering their commitment to the company's long-term growth and success. It ensures alignment between executive compensation and the achievement of strategic objectives, ultimately benefiting both the officers and the company as a whole.