Palm Beach Florida Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Palm Beach
• 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 Palm Beach, Florida Long Term Incentive Program for Senior Management is an incentive program specifically designed to reward and retain senior executives in the Palm Beach area. This program aims to provide long-term benefits to the eligible participants, encouraging them to contribute their skills and expertise towards the growth and success of the organization. The Palm Beach, Florida Long Term Incentive Program for Senior Management offers various types of incentives that are tailored to meet the unique needs and goals of senior executives. These incentives may include: 1. Stock Options: Senior management personnel may be granted the opportunity to purchase company stocks at a predetermined price, enabling them to share in the company's success and overall performance. 2. Restricted Stock Units (RSS): This type of incentive provides senior executives with a specific number of company stocks, which vest over a predetermined period. RSS help align the interests of executives with shareholders, as the value of shares is tied to the company's performance. 3. Performance-Based Bonuses: Senior management personnel may be eligible for performance-based bonuses that are tied to the achievement of predetermined goals and targets. These bonuses serve as additional motivation for executives to excel in their roles and contribute to the company's growth. 4. Executive Savings Plans: Palm Beach, Florida Long Term Incentive Program may offer executive savings plans, allowing senior executives to set aside a portion of their income for retirement or other financial goals. These plans can be structured in various ways, such as 401(k) plans or employee stock purchase programs. 5. Deferred Compensation Plans: This incentive allows senior executives to defer a portion of their salary and bonuses to a future date. The deferred amount accrues interest or other investment gains, providing executives with an additional retirement or post-employment income stream. The Palm Beach, Florida Long Term Incentive Program for Senior Management is carefully crafted to attract and retain top talent in the area. The program aims to align the interests of senior executives with the long-term success of the organization while rewarding them for their contributions. By offering various types of incentives, the program ensures flexibility and customization based on the unique needs and goals of each executive. Overall, this program serves as an effective tool to motivate, retain, and reward senior management personnel, ultimately benefiting both the executives and the organization they serve.

Palm Beach, Florida Long Term Incentive Program for Senior Management is an incentive program specifically designed to reward and retain senior executives in the Palm Beach area. This program aims to provide long-term benefits to the eligible participants, encouraging them to contribute their skills and expertise towards the growth and success of the organization. The Palm Beach, Florida Long Term Incentive Program for Senior Management offers various types of incentives that are tailored to meet the unique needs and goals of senior executives. These incentives may include: 1. Stock Options: Senior management personnel may be granted the opportunity to purchase company stocks at a predetermined price, enabling them to share in the company's success and overall performance. 2. Restricted Stock Units (RSS): This type of incentive provides senior executives with a specific number of company stocks, which vest over a predetermined period. RSS help align the interests of executives with shareholders, as the value of shares is tied to the company's performance. 3. Performance-Based Bonuses: Senior management personnel may be eligible for performance-based bonuses that are tied to the achievement of predetermined goals and targets. These bonuses serve as additional motivation for executives to excel in their roles and contribute to the company's growth. 4. Executive Savings Plans: Palm Beach, Florida Long Term Incentive Program may offer executive savings plans, allowing senior executives to set aside a portion of their income for retirement or other financial goals. These plans can be structured in various ways, such as 401(k) plans or employee stock purchase programs. 5. Deferred Compensation Plans: This incentive allows senior executives to defer a portion of their salary and bonuses to a future date. The deferred amount accrues interest or other investment gains, providing executives with an additional retirement or post-employment income stream. The Palm Beach, Florida Long Term Incentive Program for Senior Management is carefully crafted to attract and retain top talent in the area. The program aims to align the interests of senior executives with the long-term success of the organization while rewarding them for their contributions. By offering various types of incentives, the program ensures flexibility and customization based on the unique needs and goals of each executive. Overall, this program serves as an effective tool to motivate, retain, and reward senior management personnel, ultimately benefiting both the executives and the organization they serve.