Wake North Carolina Long Term Incentive Plan of Life Re Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Wake
• 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 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 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.