Franklin Ohio Management Long Term Incentive Compensation Plan of of SCEcorp

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Franklin
• 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 The Franklin Ohio Management Long Term Incentive Compensation Plan is a comprehensive program offered by Suncorp, designed to provide monetary incentives and rewards to management employees based in the Franklin Ohio region. This compensation plan aims to align the long-term performance goals of individuals with the strategic objectives and success of Suncorp. Under the Franklin Ohio Management Long Term Incentive Compensation Plan, eligible management employees in a range of roles and levels can participate in various types of incentive programs. These programs may include: 1. Stock Options: Management employees may be granted stock options, allowing them to purchase a specified number of Suncorp's common stock at a predetermined price within a specified time frame. 2. Restricted Stock Units (RSS): RSS are another form of equity-based compensation granted to management employees. These units represent a promise to deliver shares of Suncorp's common stock at a predetermined future date, subject to certain conditions. 3. Performance-based Cash Incentives: This type of incentive compensation is directly tied to the achievement of specific performance goals, such as financial targets, operational metrics, or strategic milestones. Management employees can earn a cash bonus or additional compensation if they meet or exceed these predetermined objectives. 4. Long-Term Performance Awards: These awards are typically granted in the form of performance-based cash or equity compensation, linked to the company's overall performance and sustained growth over an extended period. The payout calculation may be based on a combination of financial metrics, shareholder returns, and other key performance indicators. The Franklin Ohio Management Long Term Incentive Compensation Plan is designed to attract, retain, and motivate talented individuals within the organization by offering them the opportunity to share in the company's long-term success. It provides a performance-driven framework that encourages employees to contribute to the growth and profitability of Suncorp, ultimately aligning their interests with those of the company's stakeholders. By implementing this incentive plan, Suncorp aims to foster a culture of excellence, drive strategic execution, and encourage sustainable long-term investment in the Franklin Ohio region. Through the utilization of stock options, RSS, performance-based cash incentives, and long-term performance awards, management employees are rewarded for their contributions while promoting the company's overall success.

The Franklin Ohio Management Long Term Incentive Compensation Plan is a comprehensive program offered by Suncorp, designed to provide monetary incentives and rewards to management employees based in the Franklin Ohio region. This compensation plan aims to align the long-term performance goals of individuals with the strategic objectives and success of Suncorp. Under the Franklin Ohio Management Long Term Incentive Compensation Plan, eligible management employees in a range of roles and levels can participate in various types of incentive programs. These programs may include: 1. Stock Options: Management employees may be granted stock options, allowing them to purchase a specified number of Suncorp's common stock at a predetermined price within a specified time frame. 2. Restricted Stock Units (RSS): RSS are another form of equity-based compensation granted to management employees. These units represent a promise to deliver shares of Suncorp's common stock at a predetermined future date, subject to certain conditions. 3. Performance-based Cash Incentives: This type of incentive compensation is directly tied to the achievement of specific performance goals, such as financial targets, operational metrics, or strategic milestones. Management employees can earn a cash bonus or additional compensation if they meet or exceed these predetermined objectives. 4. Long-Term Performance Awards: These awards are typically granted in the form of performance-based cash or equity compensation, linked to the company's overall performance and sustained growth over an extended period. The payout calculation may be based on a combination of financial metrics, shareholder returns, and other key performance indicators. The Franklin Ohio Management Long Term Incentive Compensation Plan is designed to attract, retain, and motivate talented individuals within the organization by offering them the opportunity to share in the company's long-term success. It provides a performance-driven framework that encourages employees to contribute to the growth and profitability of Suncorp, ultimately aligning their interests with those of the company's stakeholders. By implementing this incentive plan, Suncorp aims to foster a culture of excellence, drive strategic execution, and encourage sustainable long-term investment in the Franklin Ohio region. Through the utilization of stock options, RSS, performance-based cash incentives, and long-term performance awards, management employees are rewarded for their contributions while promoting the company's overall success.