Contra Costa California Book Value Phantom Stock Plan of First Florida Banks, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Contra Costa
• Control #: US-CC-20-162A
• Format: Word; Rich Text

Description

20-162A 20-162A . . . Book Value Phantom Stock Plan under which Committee of Board of Directors may, from time to time, grant quantity of phantom shares to selected employees, each share being equivalent to one share of corporation common stock. Phantom shares may be exercised at any time within ten years of date of grant (subject to certain limitations in event of termination of employment) Upon exercise, employee is paid cash equal to increase in underlying net book value per share on fully diluted basis of shares between date of grant and date of exercise The Contra Costa California Book Value Phantom Stock Plan is a unique financial strategy implemented by First Florida Banks, Inc. This plan aims to provide eligible employees with an opportunity to participate in the growth and success of the company, specifically in the Contra Costa California region. By incorporating relevant keywords and phrases, we can better understand its features and benefits. The Contra Costa California Book Value Phantom Stock Plan is designed to align the interests of employees with the company's overall performance and success. It offers a synthetic equity ownership experience without actual shares being issued. Instead, eligible employees are granted phantom stock units that mimic the value of First Florida Banks' common stock. Through this plan, employees are given a stake in the company's book value, which is the net worth of the firm when assets are valued at their historical cost. The book value reflects the company's financial health, stability, and tangible assets. By participating in the Contra Costa California Book Value Phantom Stock Plan, employees have the opportunity to benefit from the growth and appreciation of the company's intrinsic value over time. This plan may include various types or tiers of participation, such as: 1. Entry-Level Phantom Stock Plan: This tier allows employees at the entry level to participate in the plan. It aims to offer an equitable opportunity for all eligible employees in Contra Costa California to benefit from the company's success. 2. Management Phantom Stock Plan: This tier specifically caters to mid-level and senior management employees in the Contra Costa California region. It provides them with a greater share of the growth and value appreciation as a recognition of their leadership and contributions to the company's success. 3. Executive Phantom Stock Plan: This tier is exclusively designed for top executives of First Florida Banks, Inc. in the Contra Costa California region. It offers enhanced benefits and a more significant share in the company's book value growth, reflecting their high-level responsibilities and strategic decision-making. Benefits of the Contra Costa California Book Value Phantom Stock Plan may include: a. Financial Reward: Eligible employees have the potential to earn substantial financial rewards based on the growth of the company's book value. This incentivizes them to contribute to the company's overall success. b. Employee Retention: The plan serves as a powerful tool for attracting and retaining top talent in the Contra Costa California area. By offering a unique compensation strategy, First Florida Banks, Inc. can retain skilled employees who are valuable assets to the company's growth. c. Wealth Accumulation: Through participating in this plan, employees have the opportunity to accumulate wealth over time, which can contribute to their long-term financial security. d. Motivational Tool: The Contra Costa California Book Value Phantom Stock Plan acts as a motivational tool, encouraging employees to work towards achieving the company's financial goals. It promotes a sense of ownership and pride. In conclusion, the Contra Costa California Book Value Phantom Stock Plan of First Florida Banks, Inc. is a strategic compensation strategy that allows eligible employees in the Contra Costa California region to partake in the company's growth and success. It offers various tiers of participation, providing financial rewards and motivating employees to contribute to the company's overall objectives.

The Contra Costa California Book Value Phantom Stock Plan is a unique financial strategy implemented by First Florida Banks, Inc. This plan aims to provide eligible employees with an opportunity to participate in the growth and success of the company, specifically in the Contra Costa California region. By incorporating relevant keywords and phrases, we can better understand its features and benefits. The Contra Costa California Book Value Phantom Stock Plan is designed to align the interests of employees with the company's overall performance and success. It offers a synthetic equity ownership experience without actual shares being issued. Instead, eligible employees are granted phantom stock units that mimic the value of First Florida Banks' common stock. Through this plan, employees are given a stake in the company's book value, which is the net worth of the firm when assets are valued at their historical cost. The book value reflects the company's financial health, stability, and tangible assets. By participating in the Contra Costa California Book Value Phantom Stock Plan, employees have the opportunity to benefit from the growth and appreciation of the company's intrinsic value over time. This plan may include various types or tiers of participation, such as: 1. Entry-Level Phantom Stock Plan: This tier allows employees at the entry level to participate in the plan. It aims to offer an equitable opportunity for all eligible employees in Contra Costa California to benefit from the company's success. 2. Management Phantom Stock Plan: This tier specifically caters to mid-level and senior management employees in the Contra Costa California region. It provides them with a greater share of the growth and value appreciation as a recognition of their leadership and contributions to the company's success. 3. Executive Phantom Stock Plan: This tier is exclusively designed for top executives of First Florida Banks, Inc. in the Contra Costa California region. It offers enhanced benefits and a more significant share in the company's book value growth, reflecting their high-level responsibilities and strategic decision-making. Benefits of the Contra Costa California Book Value Phantom Stock Plan may include: a. Financial Reward: Eligible employees have the potential to earn substantial financial rewards based on the growth of the company's book value. This incentivizes them to contribute to the company's overall success. b. Employee Retention: The plan serves as a powerful tool for attracting and retaining top talent in the Contra Costa California area. By offering a unique compensation strategy, First Florida Banks, Inc. can retain skilled employees who are valuable assets to the company's growth. c. Wealth Accumulation: Through participating in this plan, employees have the opportunity to accumulate wealth over time, which can contribute to their long-term financial security. d. Motivational Tool: The Contra Costa California Book Value Phantom Stock Plan acts as a motivational tool, encouraging employees to work towards achieving the company's financial goals. It promotes a sense of ownership and pride. In conclusion, the Contra Costa California Book Value Phantom Stock Plan of First Florida Banks, Inc. is a strategic compensation strategy that allows eligible employees in the Contra Costa California region to partake in the company's growth and success. It offers various tiers of participation, providing financial rewards and motivating employees to contribute to the company's overall objectives.