Franklin Ohio Stock Participation Plan of Maynard Oil Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Franklin
• Control #: US-CC-20-132
• Format: Word; Rich Text

Description

20-132 20-132 . . . Stock Participation Plan under which Board of Directors grants stock participation units to selected employees which entitle them to appreciation in value of corporation common stock. Such appreciation is payable in cash upon Participant's termination of employment. The amount of cash payment is equal to excess, if any, of fair market value of one share of common stock on date of termination over a per share price set forth in Vesting Schedule established by Board for that Participant's award, multiplied by number of vested stock participation units held by Participant. Stock participation units vest over term established by Board The Franklin Ohio Stock Participation Plan (FO SPP) is an employee benefit program offered by Maynard Oil Co., a prominent oil and gas company based in Franklin, Ohio. This plan aims to provide eligible employees with an opportunity to invest in the company's stock, fostering a sense of ownership and aligning their financial interests with the success of the organization. Under the FO SPP, participating employees have the chance to acquire shares of Maynard Oil Co. stock at a discounted price or through regular contributions from their salary. This unique plan helps employees build wealth and secure their financial future, as they become co-owners and benefit from the long-term growth potential of the company. There are different types of Franklin Ohio Stock Participation Plans available to employees based on their job level or years of service, allowing for increased participation and varying investment opportunities. These may include: 1. Executive Stock Participation Plan: This plan is tailored for high-ranking executives within Maynard Oil Co. It may offer more significant stock acquisition opportunities, potentially at a reduced price or with added benefits such as performance-based bonuses. 2. Tiered Stock Ownership Program: This plan divides employees into tiers based on their job levels or years of service. Each tier may have specific contribution limits or discount rates, ensuring fairness and inclusivity within the program. 3. Vesting Schedule Stock Participation Program: This plan follows a vesting schedule, where employee stock ownership gradually increases over time. By encouraging long-term commitment and loyalty, this program rewards employees who stay with Maynard Oil Co. for an extended period. 4. Performance-Based Stock Participation Plan: As the name suggests, this plan offers additional stock acquisition opportunities based on individual or company performance metrics. Employees who exceed performance targets may be rewarded with a higher allocation of stock contributions. The Franklin Ohio Stock Participation Plan of Maynard Oil Co. is an effective tool for retaining talent and motivating employees to contribute to the company's success. By providing an avenue for stock ownership, this plan strengthens the bond between the employees and the organization, fostering a shared vision for growth and prosperity.

The Franklin Ohio Stock Participation Plan (FO SPP) is an employee benefit program offered by Maynard Oil Co., a prominent oil and gas company based in Franklin, Ohio. This plan aims to provide eligible employees with an opportunity to invest in the company's stock, fostering a sense of ownership and aligning their financial interests with the success of the organization. Under the FO SPP, participating employees have the chance to acquire shares of Maynard Oil Co. stock at a discounted price or through regular contributions from their salary. This unique plan helps employees build wealth and secure their financial future, as they become co-owners and benefit from the long-term growth potential of the company. There are different types of Franklin Ohio Stock Participation Plans available to employees based on their job level or years of service, allowing for increased participation and varying investment opportunities. These may include: 1. Executive Stock Participation Plan: This plan is tailored for high-ranking executives within Maynard Oil Co. It may offer more significant stock acquisition opportunities, potentially at a reduced price or with added benefits such as performance-based bonuses. 2. Tiered Stock Ownership Program: This plan divides employees into tiers based on their job levels or years of service. Each tier may have specific contribution limits or discount rates, ensuring fairness and inclusivity within the program. 3. Vesting Schedule Stock Participation Program: This plan follows a vesting schedule, where employee stock ownership gradually increases over time. By encouraging long-term commitment and loyalty, this program rewards employees who stay with Maynard Oil Co. for an extended period. 4. Performance-Based Stock Participation Plan: As the name suggests, this plan offers additional stock acquisition opportunities based on individual or company performance metrics. Employees who exceed performance targets may be rewarded with a higher allocation of stock contributions. The Franklin Ohio Stock Participation Plan of Maynard Oil Co. is an effective tool for retaining talent and motivating employees to contribute to the company's success. By providing an avenue for stock ownership, this plan strengthens the bond between the employees and the organization, fostering a shared vision for growth and prosperity.