Kings New York Long Term Incentive Plan of Life Re Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Kings
• 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 Kings New York Long Term Incentive Plan of Life Re Corp., also known as the Kings NY TIP of Life Re Corp., is an incentive program offered by Life Re Corp., a leading insurance company based in New York. This long-term incentive plan is designed to reward and motivate employees for their ongoing commitment, hard work, and dedication to the company's success. The Kings New York Long Term Incentive Plan outlines specific goals and objectives that employees need to achieve over an extended period, typically several years. By meeting or exceeding these goals, employees become eligible for various financial rewards and benefits, which are intended to be long-lasting and provide an extra incentive for continued performance. The plan aims to align employee interests with the company's overall growth and profitability by linking compensation directly to individual and group performance. This helps create a sense of ownership among employees, fostering loyalty and encouraging them to contribute to the company's long-term goals and objectives. Some key features of the Kings New York Long Term Incentive Plan include: 1. Performance-based rewards: The plan offers financial rewards based on individual and team performances, allowing employees to earn incentives proportional to their achievements. This ensures that contributions are recognized and adequately compensated. 2. Vesting period: The plan typically has a vesting period during which employees build up their ownership stake in the company. This encourages long-term commitment and discourages premature departure from the organization. 3. Stock options and bonuses: In addition to financial rewards, the plan may include stock options or bonuses tied to the company's stock value. This provides employees with an opportunity to share in the company's success, further aligning their interests with the organization's performance. 4. Career development opportunities: The Kings NY TIP of Life Re Corp. may also offer employees opportunities for skills development, training programs, mentoring, or career advancement plans. This ensures employees' continuous growth and professional development. The Kings New York Long Term Incentive Plan of Life Re Corp. is available to employees across various departments and levels, including executives, managers, and non-executive staff. While specific details of the plan may differ depending on an employee's role and seniority, the underlying principles remain consistent: to reward exceptional performance, promote loyalty, and foster the long-term success of Life Re Corp.

Kings New York Long Term Incentive Plan of Life Re Corp., also known as the Kings NY TIP of Life Re Corp., is an incentive program offered by Life Re Corp., a leading insurance company based in New York. This long-term incentive plan is designed to reward and motivate employees for their ongoing commitment, hard work, and dedication to the company's success. The Kings New York Long Term Incentive Plan outlines specific goals and objectives that employees need to achieve over an extended period, typically several years. By meeting or exceeding these goals, employees become eligible for various financial rewards and benefits, which are intended to be long-lasting and provide an extra incentive for continued performance. The plan aims to align employee interests with the company's overall growth and profitability by linking compensation directly to individual and group performance. This helps create a sense of ownership among employees, fostering loyalty and encouraging them to contribute to the company's long-term goals and objectives. Some key features of the Kings New York Long Term Incentive Plan include: 1. Performance-based rewards: The plan offers financial rewards based on individual and team performances, allowing employees to earn incentives proportional to their achievements. This ensures that contributions are recognized and adequately compensated. 2. Vesting period: The plan typically has a vesting period during which employees build up their ownership stake in the company. This encourages long-term commitment and discourages premature departure from the organization. 3. Stock options and bonuses: In addition to financial rewards, the plan may include stock options or bonuses tied to the company's stock value. This provides employees with an opportunity to share in the company's success, further aligning their interests with the organization's performance. 4. Career development opportunities: The Kings NY TIP of Life Re Corp. may also offer employees opportunities for skills development, training programs, mentoring, or career advancement plans. This ensures employees' continuous growth and professional development. The Kings New York Long Term Incentive Plan of Life Re Corp. is available to employees across various departments and levels, including executives, managers, and non-executive staff. While specific details of the plan may differ depending on an employee's role and seniority, the underlying principles remain consistent: to reward exceptional performance, promote loyalty, and foster the long-term success of Life Re Corp.