Hennepin Minnesota Share Appreciation Rights Plan with amendment

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Hennepin
• Control #: US-CC-18-400D
• Format: Word; Rich Text

Description

18-400D 18-400D . . . Share Appreciation Rights Plan under which stock option committee determines to whom units are awarded, number of units to be awarded and terms of such units. On grant date, committee assigns each unit a base value which cannot be less than market value of share of common stock on that date. Each award becomes exercisable with respect to 25% of units awarded on each of first four anniversaries of grant date, provided grantee has been continually employed full-time by corporation or subsidiary. Units may be exercised, to extent vested, at any time until five years after grant date. Upon exercise of vested units, grantee is entitled to receive net appreciation of such units in cash or in shares of common stock, as determined by committee Hennepin Minnesota Share Appreciation Rights Plan is a specific type of employee benefit plan established by companies in Hennepin County, Minnesota. It allows employees to receive cash or stock appreciation rights (SARS) based on the increase in the value of the company's shares over a certain period. The plan aims to reward employees for their contributions to the company's growth and provide an incentive for them to perform at their best. The amendment to the Hennepin Minnesota Share Appreciation Rights Plan involves modifying certain provisions or terms of the original plan to better align with the company's current needs or regulatory requirements. Amendments could include changes to the eligibility criteria, vesting schedule, payout method, or other aspects of the plan. Different types of Hennepin Minnesota Share Appreciation Rights Plan with amendment can be categorized based on the specific modifications made. Some common types of amendments may include: 1. Vesting Amendments: This type of amendment focuses on altering the vesting schedule, which determines when employees become entitled to the SARS. Changes may involve extending or shortening the vesting period, or implementing a graded or cliff vesting schedule. 2. Payout Amendments: These amendments revolve around modifying the method of payout for the SARS. It could involve changing the payout timing, providing the option to receive cash or stock, or introducing a deferred payout option. 3. Eligibility Amendments: This type of amendment targets the criteria for employee eligibility to participate in the plan. It may involve expanding or restricting the pool of eligible employees based on tenure, employment status, or performance benchmarks. 4. Performance Amendments: Performance amendments focus on tying the SARS to the achievement of specific company or individual performance goals. Such amendments may introduce performance targets that need to be met for SARS to be earned. 5. Regulatory Amendments: These amendments address changes in laws or regulations that impact the operation or administration of the plan, ensuring compliance with legal requirements. The Hennepin Minnesota Share Appreciation Rights Plan with amendment allows companies to tailor the plan to their specific needs and objectives. It provides flexibility in adjusting various plan components to align with evolving business strategies, legal obligations, and employee expectations. Employers must carefully consider the impact of amendments on employee morale, retention, and overall compensation strategy while ensuring compliance with applicable regulations.

Hennepin Minnesota Share Appreciation Rights Plan is a specific type of employee benefit plan established by companies in Hennepin County, Minnesota. It allows employees to receive cash or stock appreciation rights (SARS) based on the increase in the value of the company's shares over a certain period. The plan aims to reward employees for their contributions to the company's growth and provide an incentive for them to perform at their best. The amendment to the Hennepin Minnesota Share Appreciation Rights Plan involves modifying certain provisions or terms of the original plan to better align with the company's current needs or regulatory requirements. Amendments could include changes to the eligibility criteria, vesting schedule, payout method, or other aspects of the plan. Different types of Hennepin Minnesota Share Appreciation Rights Plan with amendment can be categorized based on the specific modifications made. Some common types of amendments may include: 1. Vesting Amendments: This type of amendment focuses on altering the vesting schedule, which determines when employees become entitled to the SARS. Changes may involve extending or shortening the vesting period, or implementing a graded or cliff vesting schedule. 2. Payout Amendments: These amendments revolve around modifying the method of payout for the SARS. It could involve changing the payout timing, providing the option to receive cash or stock, or introducing a deferred payout option. 3. Eligibility Amendments: This type of amendment targets the criteria for employee eligibility to participate in the plan. It may involve expanding or restricting the pool of eligible employees based on tenure, employment status, or performance benchmarks. 4. Performance Amendments: Performance amendments focus on tying the SARS to the achievement of specific company or individual performance goals. Such amendments may introduce performance targets that need to be met for SARS to be earned. 5. Regulatory Amendments: These amendments address changes in laws or regulations that impact the operation or administration of the plan, ensuring compliance with legal requirements. The Hennepin Minnesota Share Appreciation Rights Plan with amendment allows companies to tailor the plan to their specific needs and objectives. It provides flexibility in adjusting various plan components to align with evolving business strategies, legal obligations, and employee expectations. Employers must carefully consider the impact of amendments on employee morale, retention, and overall compensation strategy while ensuring compliance with applicable regulations.