Wake North Carolina Long Term Incentive Plan is a comprehensive employee benefit program offered by Life Re Corp., a leading insurance company in the Wake County area of North Carolina. This incentive plan is designed to attract, retain, and motivate employees by providing them with long-term financial rewards, aligned with the company's growth and success. The plan offers a range of benefits and incentives based on individual and company performance. The Wake North Carolina Long Term Incentive Plan of Life Re Corp. comprises various types of incentives to cater to different employee needs and job roles. These can include: 1. Performance-based bonuses: A key component of this incentive plan is performance-based bonuses, which are provided to employees based on their individual achievements and contributions to the company's financial goals and objectives. These bonuses are typically tied to specific measurable targets and are awarded annually or at regular intervals. 2. Stock options: Life Re Corp. may also offer stock options as part of the long-term incentive plan. This allows eligible employees to purchase company stocks at a predetermined price during a specified period, providing them with the opportunity to benefit from the company's growth and profitability in the long run. 3. Restricted stock units (RSS): Another type of incentive that Life Re Corp. may offer is RSS. These are awards given to employees, typically in the form of company stock, which vests over a set period. Once the vesting period is complete, employees gain ownership of the shares, allowing them to benefit from any potential increase in stock value. 4. Performance share units (Plus): Plus are performance-based awards that provide employees with a predetermined number of shares based on their individual or company performance. These units vest over time, and employees can receive the shares once certain performance goals are met. 5. Cash-based incentives: Life Re Corp. may also offer cash-based long-term incentives to motivate and reward employees. This can include cash bonuses, profit-sharing programs, or retirement benefits linked to long-term performance. It's important to note that the specific details and availability of these incentives may vary based on an employee's job level, tenure, and performance. The Wake North Carolina Long Term Incentive Plan aims to foster employee engagement, loyalty, and dedication by offering a comprehensive range of financial rewards and benefits that align with the company's long-term growth strategy.
Wake North Carolina Long Term Incentive Plan of Life Re Corp.
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LTI Bonus means the long term incentive bonus (or portion thereof) to which an Eligible Executive is entitled upon achievement of certain defined performance criteria, and linked to a particular offer of Executive Redeemable Shares, as more particularly described in the Executive Offer Document for those Executive
Long-Term Incentives (LTIs) are a form of variable compensation that is earned in the present but whose payment is deferred and spread over time. This can be cash compensation but often is in the form of stock or stock options.
term incentive plan (LTIP) incentivizes employees to take actions that will maximize shareholder value and promote longterm growth for the organization. In a standard LTIP, the employee, who is normally a senior executive, is required to meet a number of criteria to receive the incentive.
During the Employment Term, the Employee shall be eligible to receive: Short Term and Long Term Incentive. (STI and LTI) Awards.
Long-Term Performance Plan means a cash incentive plan administered by the compensation committee of the Company's board of directors which provides for cash payments to key employees contingent upon the attainment of multi-year performance goals.
An example of a long-term incentive could be a cash plan, equity plan or share plan. A long-term incentive plan can typically run between three years and five years before the full benefit of the incentive is received by the employee.
term incentive plan (LTIP) is a company policy that rewards employees for reaching specific goals that lead to increased shareholder value. In a typical LTIP, the employee, usually an executive, must fulfill various conditions or requirements.
To calculate the number of target performance shares that could be earned at the end of the 2009-2011 LTIP cycle, the target LTIP values for the 2009-2011 LTIP cycle were divided by the average closing market price of the Company's shares of common stock over the 180-day period preceding the award date of February 25,