Orange California Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Orange
• 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 Orange California Long Term Incentive Program for Senior Management is a comprehensive rewards program designed specifically for senior-level executives in the city of Orange, California. This distinguished program aims to motivate, retain, and attract top talent by offering long-term incentives that align with the organization's strategic goals. Participants of this program are rewarded for their exemplary performance, dedication, and commitment to driving organizational success. The Orange California Long Term Incentive Program for Senior Management offers various types of incentives, each tailored to meet the unique needs and objectives of senior executives. These incentives may include: 1. Stock Options: Eligible senior managers may be granted the opportunity to purchase company stock at a specified price within a predetermined time frame. This enables them to share in the company's success and align their interests with those of other stakeholders. 2. Restricted Stock Units (RSS): Under this scheme, senior executives are awarded company shares that vest over a specific period. The vesting may be based on performance milestones, tenure, or a combination of both. RSS provides senior management with a vested interest in the long-term growth and profitability of the organization. 3. Performance-Based Bonus Plans: This type of incentive program rewards senior executives based on their individual or team performance against pre-established goals and objectives. These bonuses may be tied to financial metrics, such as revenue growth or earnings targets, or non-financial metrics, such as customer satisfaction or employee engagement. 4. Deferred Compensation Plans: Senior executives may have the option to defer a portion of their compensation, allowing them to receive these funds at a later date, often upon retirement or another predetermined event. These plans can provide tax advantages and assist in overall wealth accumulation for the long term. 5. Retirement and Pension Plans: Orange California Long Term Incentive Program for Senior Management may also encompass retirement and pension benefits to ensure the financial security of senior executives post-retirement. These plans may include defined benefit or contribution plans, providing a reliable income stream. By implementing these diverse long-term incentives, Orange California aims to nurture a high-performing senior management team, drive organizational growth, and create a culture of excellence and loyalty. This program effectively aligns the interests of senior executives with the goals and objectives of the organization while fostering a long-term vision and commitment towards success.

Orange California Long Term Incentive Program for Senior Management is a comprehensive rewards program designed specifically for senior-level executives in the city of Orange, California. This distinguished program aims to motivate, retain, and attract top talent by offering long-term incentives that align with the organization's strategic goals. Participants of this program are rewarded for their exemplary performance, dedication, and commitment to driving organizational success. The Orange California Long Term Incentive Program for Senior Management offers various types of incentives, each tailored to meet the unique needs and objectives of senior executives. These incentives may include: 1. Stock Options: Eligible senior managers may be granted the opportunity to purchase company stock at a specified price within a predetermined time frame. This enables them to share in the company's success and align their interests with those of other stakeholders. 2. Restricted Stock Units (RSS): Under this scheme, senior executives are awarded company shares that vest over a specific period. The vesting may be based on performance milestones, tenure, or a combination of both. RSS provides senior management with a vested interest in the long-term growth and profitability of the organization. 3. Performance-Based Bonus Plans: This type of incentive program rewards senior executives based on their individual or team performance against pre-established goals and objectives. These bonuses may be tied to financial metrics, such as revenue growth or earnings targets, or non-financial metrics, such as customer satisfaction or employee engagement. 4. Deferred Compensation Plans: Senior executives may have the option to defer a portion of their compensation, allowing them to receive these funds at a later date, often upon retirement or another predetermined event. These plans can provide tax advantages and assist in overall wealth accumulation for the long term. 5. Retirement and Pension Plans: Orange California Long Term Incentive Program for Senior Management may also encompass retirement and pension benefits to ensure the financial security of senior executives post-retirement. These plans may include defined benefit or contribution plans, providing a reliable income stream. By implementing these diverse long-term incentives, Orange California aims to nurture a high-performing senior management team, drive organizational growth, and create a culture of excellence and loyalty. This program effectively aligns the interests of senior executives with the goals and objectives of the organization while fostering a long-term vision and commitment towards success.