Fairfax Virginia Management Long Term Incentive Compensation Plan of of SCEcorp

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Fairfax
• Control #: US-CC-18-268B
• Format: Word; Rich Text

Description

18-268B 18-268B . . . Management 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 Fairfax Virginia Management Long Term Incentive Compensation Plan of Suncorp, also known as the Fairfax Management LTC Plan, is a comprehensive and competitive incentive program offered by Suncorp to its management teams based in Fairfax, Virginia. This compensation plan aims to attract, motivate, and retain talented individuals who contribute to the long-term success of the company and align their interests with the shareholders. The Fairfax Virginia Management Long Term Incentive Compensation Plan of Suncorp comprises several types of rewards designed to compensate management for their performance and commitment over an extended period of time. These different types of plans include: 1. Equity-based Incentives: This component offers eligible managers the opportunity to receive stock options, restricted stock units (RSS), or performance stock units (Plus) as a long-term incentive. These awards serve to align the interests of executives and shareholders, as their value is tied to the company's stock performance. 2. Performance-based Bonuses: The Fairfax Management LTC Plan may also include performance-based bonuses that are directly linked to achieving specific financial goals or operational targets. These bonuses are typically granted annually or at predetermined milestones, providing executives with additional monetary rewards for surpassing performance expectations. 3. Long-Term Cash Incentives: In certain cases, the compensation plan may offer long-term cash incentives as an alternative to equity-based rewards or in addition to them. These cash incentives are typically tied to specific performance metrics and are aimed at providing financial motivation and a sense of stability to management. 4. Retention Bonuses: To ensure that key executives remain committed to the company for the long term, the Fairfax Management LTC Plan may offer retention bonuses. These bonuses are usually granted over a predetermined period, with the aim of encouraging executives to stay with the company and fulfill critical roles during times of transition or significant projects. 5. Deferred Compensation: The plan may also provide a deferred compensation option, allowing executives to defer a portion of their annual salary or bonus into a separate account. This account typically accrues interest or investment returns over time and is paid out at a later date, often upon retirement or the achievement of specific career milestones. It is important to note that as a specific plan offered by Suncorp in Fairfax, Virginia, the details of the Fairfax Virginia Management Long Term Incentive Compensation Plan may vary from other plans offered by Suncorp or other companies in different locations.

Fairfax Virginia Management Long Term Incentive Compensation Plan of Suncorp, also known as the Fairfax Management LTC Plan, is a comprehensive and competitive incentive program offered by Suncorp to its management teams based in Fairfax, Virginia. This compensation plan aims to attract, motivate, and retain talented individuals who contribute to the long-term success of the company and align their interests with the shareholders. The Fairfax Virginia Management Long Term Incentive Compensation Plan of Suncorp comprises several types of rewards designed to compensate management for their performance and commitment over an extended period of time. These different types of plans include: 1. Equity-based Incentives: This component offers eligible managers the opportunity to receive stock options, restricted stock units (RSS), or performance stock units (Plus) as a long-term incentive. These awards serve to align the interests of executives and shareholders, as their value is tied to the company's stock performance. 2. Performance-based Bonuses: The Fairfax Management LTC Plan may also include performance-based bonuses that are directly linked to achieving specific financial goals or operational targets. These bonuses are typically granted annually or at predetermined milestones, providing executives with additional monetary rewards for surpassing performance expectations. 3. Long-Term Cash Incentives: In certain cases, the compensation plan may offer long-term cash incentives as an alternative to equity-based rewards or in addition to them. These cash incentives are typically tied to specific performance metrics and are aimed at providing financial motivation and a sense of stability to management. 4. Retention Bonuses: To ensure that key executives remain committed to the company for the long term, the Fairfax Management LTC Plan may offer retention bonuses. These bonuses are usually granted over a predetermined period, with the aim of encouraging executives to stay with the company and fulfill critical roles during times of transition or significant projects. 5. Deferred Compensation: The plan may also provide a deferred compensation option, allowing executives to defer a portion of their annual salary or bonus into a separate account. This account typically accrues interest or investment returns over time and is paid out at a later date, often upon retirement or the achievement of specific career milestones. It is important to note that as a specific plan offered by Suncorp in Fairfax, Virginia, the details of the Fairfax Virginia Management Long Term Incentive Compensation Plan may vary from other plans offered by Suncorp or other companies in different locations.