Hennepin Minnesota Long Term Incentive Program for Senior Management

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

Description

20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies The Hennepin County, Minnesota Long Term Incentive Program for Senior Management is a comprehensive initiative designed to attract, retain, and reward top-level executives within the county government. This program offers various incentives to senior managers, ensuring their long-term commitment and dedication towards achieving organizational goals. Keywords: Hennepin County, Minnesota, Long Term Incentive Program, Senior Management, attract, retain, reward, top-level executives, commitment, dedication, organizational goals. The Hennepin County Long Term Incentive Program for Senior Management encompasses several types of incentives tailored to meet the diverse needs and objectives of senior managers. Let's explore some key variations within this program: 1. Performance-Based Bonuses: To encourage and reward exceptional performance, senior managers may be eligible for performance-based bonuses. These bonuses are tied to predefined performance objectives and specific key performance indicators, ensuring that executives are appropriately recognized for achieving outstanding results. 2. Stock Options and Equity Grants: As a means to align the interests of senior executives with the long-term success of Hennepin County, stock options or equity grants may be offered. These arrangements provide managers with the opportunity to acquire shares in the organization, giving them a stake in its future performance and growth. 3. Deferred Compensation Plans: To recognize the contributions of long-serving senior managers, the program may include deferred compensation plans. These plans allow executives to set aside a portion of their salary or bonuses for future payout, providing financial security and incentivizing extended commitments to the organization. 4. Retention Bonuses: In situations where the retention of senior management is crucial for the stability and continuity of Hennepin County, retention bonuses may be offered. These bonuses are provided as additional compensation at specific milestones, encouraging senior executives to remain with the organization for an extended period. 5. Performance Shares or Restricted Stock Units: Another variation of the program involves granting performance shares or restricted stock units (RSS) to senior managers. These awards are typically subject to certain performance conditions and vesting schedules, ensuring that executives deliver sustained high performance before fully realizing the benefits. Overall, Hennepin County's Long Term Incentive Program for Senior Management offers a range of incentives aimed at attracting top talent, fostering long-term commitment, and rewarding exceptional performance. By utilizing these varied approaches, the program ensures that senior managers play a vital role in driving the county's success while also aligning their interests with the organization's long-term objectives. Keywords: Performance-Based Bonuses, Stock Options, Equity Grants, Deferred Compensation Plans, Retention Bonuses, Performance Shares, Restricted Stock Units, attract, retain, reward, exceptional performance, long-term commitment, Hennepin County.

The Hennepin County, Minnesota Long Term Incentive Program for Senior Management is a comprehensive initiative designed to attract, retain, and reward top-level executives within the county government. This program offers various incentives to senior managers, ensuring their long-term commitment and dedication towards achieving organizational goals. Keywords: Hennepin County, Minnesota, Long Term Incentive Program, Senior Management, attract, retain, reward, top-level executives, commitment, dedication, organizational goals. The Hennepin County Long Term Incentive Program for Senior Management encompasses several types of incentives tailored to meet the diverse needs and objectives of senior managers. Let's explore some key variations within this program: 1. Performance-Based Bonuses: To encourage and reward exceptional performance, senior managers may be eligible for performance-based bonuses. These bonuses are tied to predefined performance objectives and specific key performance indicators, ensuring that executives are appropriately recognized for achieving outstanding results. 2. Stock Options and Equity Grants: As a means to align the interests of senior executives with the long-term success of Hennepin County, stock options or equity grants may be offered. These arrangements provide managers with the opportunity to acquire shares in the organization, giving them a stake in its future performance and growth. 3. Deferred Compensation Plans: To recognize the contributions of long-serving senior managers, the program may include deferred compensation plans. These plans allow executives to set aside a portion of their salary or bonuses for future payout, providing financial security and incentivizing extended commitments to the organization. 4. Retention Bonuses: In situations where the retention of senior management is crucial for the stability and continuity of Hennepin County, retention bonuses may be offered. These bonuses are provided as additional compensation at specific milestones, encouraging senior executives to remain with the organization for an extended period. 5. Performance Shares or Restricted Stock Units: Another variation of the program involves granting performance shares or restricted stock units (RSS) to senior managers. These awards are typically subject to certain performance conditions and vesting schedules, ensuring that executives deliver sustained high performance before fully realizing the benefits. Overall, Hennepin County's Long Term Incentive Program for Senior Management offers a range of incentives aimed at attracting top talent, fostering long-term commitment, and rewarding exceptional performance. By utilizing these varied approaches, the program ensures that senior managers play a vital role in driving the county's success while also aligning their interests with the organization's long-term objectives. Keywords: Performance-Based Bonuses, Stock Options, Equity Grants, Deferred Compensation Plans, Retention Bonuses, Performance Shares, Restricted Stock Units, attract, retain, reward, exceptional performance, long-term commitment, Hennepin County.