Los Angeles California Long Term Incentive Plan of Life Re Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Los Angeles
• 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 Los Angeles California Long Term Incentive Plan of Life Re Corp. is a robust compensation program designed to reward and retain talented employees of the company over an extended period. This plan aims to provide a mix of financial incentives, stock options, and other performance-based rewards to motivate and encourage employees to contribute to the long-term success of Life Re Corp. Based in the vibrant city of Los Angeles, California, this program attracts and retains top talent in the insurance and reinsurance industry. The primary objective of the Los Angeles California Long Term Incentive Plan is to align the interests of employees with those of the company shareholders. By offering long-term incentives, Life Re Corp. aims to foster a sense of loyalty and dedication among its employees, driving them to achieve sustained growth and profitability while focusing on achieving the company's strategic objectives. The plan offers various types of long-term incentives, tailored to meet the specific needs and objectives of Life Re Corp. and its employees: 1. Stock Options: The plan offers stock options allowing employees to purchase company stock at a predetermined price, typically known as the exercise price. These options provide the employee an opportunity to benefit from the future increase in stock value. 2. Restricted Stock Units (RSS): RSS grant employees with the right to receive company shares after a specific vesting period. Unlike stock options, RSS do not require any upfront investment, and employees receive shares directly as they vest. 3. Performance-based Cash Bonuses: In addition to stock-based incentives, Life Re Corp. may offer performance-based cash bonuses tied to predefined goals and metrics. These bonuses motivate employees to achieve specific targets, fostering a culture of excellence and driving results. 4. Non-Qualified Deferred Compensation Plans: These plans allow employees to defer a portion of their salary or bonus, which converts into a payout or a stream of income after a predetermined period, providing additional financial security and retirement benefits. 5. Phantom Stock: Phantom stock is a synthetic equity plan that mimics the value and performance of actual company shares. Employees are granted units that increase in value parallel to the company's stock price appreciation. These units can be converted into cash or actual stock at a later date. The Los Angeles California Long Term Incentive Plan of Life Re Corp. demonstrates the company's commitment to rewarding and engaging its talented workforce. By combining financial incentives and performance-based rewards, this plan seeks to motivate employees to think and act in the best interest of both their individual and the company's long-term success. As a result, Life Re Corp. can attract top talent, retain high-performing individuals, and maintain a competitive edge in the insurance and reinsurance industry.

The Los Angeles California Long Term Incentive Plan of Life Re Corp. is a robust compensation program designed to reward and retain talented employees of the company over an extended period. This plan aims to provide a mix of financial incentives, stock options, and other performance-based rewards to motivate and encourage employees to contribute to the long-term success of Life Re Corp. Based in the vibrant city of Los Angeles, California, this program attracts and retains top talent in the insurance and reinsurance industry. The primary objective of the Los Angeles California Long Term Incentive Plan is to align the interests of employees with those of the company shareholders. By offering long-term incentives, Life Re Corp. aims to foster a sense of loyalty and dedication among its employees, driving them to achieve sustained growth and profitability while focusing on achieving the company's strategic objectives. The plan offers various types of long-term incentives, tailored to meet the specific needs and objectives of Life Re Corp. and its employees: 1. Stock Options: The plan offers stock options allowing employees to purchase company stock at a predetermined price, typically known as the exercise price. These options provide the employee an opportunity to benefit from the future increase in stock value. 2. Restricted Stock Units (RSS): RSS grant employees with the right to receive company shares after a specific vesting period. Unlike stock options, RSS do not require any upfront investment, and employees receive shares directly as they vest. 3. Performance-based Cash Bonuses: In addition to stock-based incentives, Life Re Corp. may offer performance-based cash bonuses tied to predefined goals and metrics. These bonuses motivate employees to achieve specific targets, fostering a culture of excellence and driving results. 4. Non-Qualified Deferred Compensation Plans: These plans allow employees to defer a portion of their salary or bonus, which converts into a payout or a stream of income after a predetermined period, providing additional financial security and retirement benefits. 5. Phantom Stock: Phantom stock is a synthetic equity plan that mimics the value and performance of actual company shares. Employees are granted units that increase in value parallel to the company's stock price appreciation. These units can be converted into cash or actual stock at a later date. The Los Angeles California Long Term Incentive Plan of Life Re Corp. demonstrates the company's commitment to rewarding and engaging its talented workforce. By combining financial incentives and performance-based rewards, this plan seeks to motivate employees to think and act in the best interest of both their individual and the company's long-term success. As a result, Life Re Corp. can attract top talent, retain high-performing individuals, and maintain a competitive edge in the insurance and reinsurance industry.