Franklin Ohio Long Term Incentive Plan of Life Re Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Franklin
• Control #: US-CC-20-121
• Format: Word; Rich Text

Description

20-121 20-121 . . . Long-Term Incentive Plan for three executives of corporation. Material terms of performance goals established for participants are based upon results of certain transactions including acquisitions of assets, blocks of business, or other entities, mergers, or gains from the disposition of certain investments (Triggering Event). A bonus pool is created upon occurrence of each Triggering Event to be divided among participants according to participation units specified by the Compensation Committee. Pool equals percentage of amount involved in applicable transaction; maximum percentage is five percent of amount involved The Franklin Ohio Long Term Incentive Plan (TIP) is a comprehensive compensation program offered by Life Re Corp. to attract and retain talented individuals over an extended period. Designed to align employees' interests with long-term company performance, the Franklin Ohio TIP imparts valuable incentives and rewards for achieving predetermined goals. The Franklin Ohio TIP consists of various types, each catering to different levels of employees within Life Re Corp. These types may include: 1. Executive TIP: This specialized plan is tailored for top-level executives and senior management personnel within Franklin Ohio. It offers substantial benefits and rewards designed to motivate these key decision-makers to enhance the company's long-term growth and success. 2. Managerial TIP: This category of the TIP targets mid-level managers and supervisors responsible for overseeing day-to-day operations. The plan seeks to align their efforts with the company's strategic objectives, encouraging them to contribute to performance improvements and overall profitability. 3. Employee TIP: The employee TIP is aimed at all regular employees within Franklin Ohio, irrespective of their hierarchical position. This inclusive plan helps create a sense of ownership, loyalty, and commitment among employees by enabling them to share in the company's success and participate in long-term value creation. The Franklin Ohio TIP encourages participants to contribute their expertise, skills, and efforts towards achieving predetermined performance goals. These goals may be financial, operational, or strategic in nature, and may include targets such as revenue growth, cost savings, market expansion, innovation, or customer satisfaction. Participants in the Franklin Ohio TIP may earn rewards in various forms, such as stock options, restricted stock units, performance shares, cash bonuses, or other incentives carefully designed to create long-term alignment between the employees' interests and the success of Life Re Corp. These rewards are typically subject to a vesting period, ensuring that employees remain committed to the company's goals over an extended period. By implementing the Franklin Ohio TIP, Life Re Corp. aims to attract and retain top talent, drive long-term growth, create a performance-driven culture, and enhance shareholder value. It establishes a mutually beneficial relationship between the company and its employees, fostering a sense of loyalty, motivation, and shared commitment toward achieving sustained success in the insurance industry.

The Franklin Ohio Long Term Incentive Plan (TIP) is a comprehensive compensation program offered by Life Re Corp. to attract and retain talented individuals over an extended period. Designed to align employees' interests with long-term company performance, the Franklin Ohio TIP imparts valuable incentives and rewards for achieving predetermined goals. The Franklin Ohio TIP consists of various types, each catering to different levels of employees within Life Re Corp. These types may include: 1. Executive TIP: This specialized plan is tailored for top-level executives and senior management personnel within Franklin Ohio. It offers substantial benefits and rewards designed to motivate these key decision-makers to enhance the company's long-term growth and success. 2. Managerial TIP: This category of the TIP targets mid-level managers and supervisors responsible for overseeing day-to-day operations. The plan seeks to align their efforts with the company's strategic objectives, encouraging them to contribute to performance improvements and overall profitability. 3. Employee TIP: The employee TIP is aimed at all regular employees within Franklin Ohio, irrespective of their hierarchical position. This inclusive plan helps create a sense of ownership, loyalty, and commitment among employees by enabling them to share in the company's success and participate in long-term value creation. The Franklin Ohio TIP encourages participants to contribute their expertise, skills, and efforts towards achieving predetermined performance goals. These goals may be financial, operational, or strategic in nature, and may include targets such as revenue growth, cost savings, market expansion, innovation, or customer satisfaction. Participants in the Franklin Ohio TIP may earn rewards in various forms, such as stock options, restricted stock units, performance shares, cash bonuses, or other incentives carefully designed to create long-term alignment between the employees' interests and the success of Life Re Corp. These rewards are typically subject to a vesting period, ensuring that employees remain committed to the company's goals over an extended period. By implementing the Franklin Ohio TIP, Life Re Corp. aims to attract and retain top talent, drive long-term growth, create a performance-driven culture, and enhance shareholder value. It establishes a mutually beneficial relationship between the company and its employees, fostering a sense of loyalty, motivation, and shared commitment toward achieving sustained success in the insurance industry.