Contra Costa California Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Contra Costa
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares Contra Costa California Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive employee benefit program offered by Guilford Mills, Inc., a prominent textiles company based in Contra Costa, California. This plan is designed to provide eligible employees with an opportunity to acquire and own company stock, promoting long-term employee engagement and fostering a sense of ownership. Under this program, employees are awarded restricted stock units (RSS) as an incentive or reward for their contribution and dedication to the company's growth. RSS represents a promise to deliver company stock to the employee at a specified vesting date, subject to certain predetermined conditions. The Contra Costa California Restricted Stock Plan offers various types of RSS, each with its own unique characteristics and eligibility criteria: 1. Performance-Based RSS: This RSS is granted to employees based on the achievement of pre-determined performance targets, such as meeting financial goals, surpassing operational milestones, or exhibiting exceptional individual performance. 2. Time-Vested RSS: This category of RSS vests over a defined period, gradually becoming fully owned by the employee. It encourages long-term commitment and loyalty to the company as recipients must stay with the organization for a specified duration to benefit fully from this RSS. 3. Promotional RSS: Guilford Mills, Inc. may grant additional RSS to employees to recognize their promotion to higher positions within the company. This RSS serve as an attractive incentive to reward the employee's increased responsibilities and expanded role. 4. Special Recognition RSS: In exceptional circumstances, the company may award special recognition RSS to employees who have made extraordinary contributions, such as displaying exceptional leadership skills, implementing innovative ideas, or driving significant business results. The Contra Costa California Restricted Stock Plan of Guilford Mills, Inc. ensures that employees have a stake in the company's success, aligning their financial interests with those of the company and its shareholders. This not only motivates employees but also encourages them to contribute to Guilford Mills' long-term growth and prosperity.

Contra Costa California Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive employee benefit program offered by Guilford Mills, Inc., a prominent textiles company based in Contra Costa, California. This plan is designed to provide eligible employees with an opportunity to acquire and own company stock, promoting long-term employee engagement and fostering a sense of ownership. Under this program, employees are awarded restricted stock units (RSS) as an incentive or reward for their contribution and dedication to the company's growth. RSS represents a promise to deliver company stock to the employee at a specified vesting date, subject to certain predetermined conditions. The Contra Costa California Restricted Stock Plan offers various types of RSS, each with its own unique characteristics and eligibility criteria: 1. Performance-Based RSS: This RSS is granted to employees based on the achievement of pre-determined performance targets, such as meeting financial goals, surpassing operational milestones, or exhibiting exceptional individual performance. 2. Time-Vested RSS: This category of RSS vests over a defined period, gradually becoming fully owned by the employee. It encourages long-term commitment and loyalty to the company as recipients must stay with the organization for a specified duration to benefit fully from this RSS. 3. Promotional RSS: Guilford Mills, Inc. may grant additional RSS to employees to recognize their promotion to higher positions within the company. This RSS serve as an attractive incentive to reward the employee's increased responsibilities and expanded role. 4. Special Recognition RSS: In exceptional circumstances, the company may award special recognition RSS to employees who have made extraordinary contributions, such as displaying exceptional leadership skills, implementing innovative ideas, or driving significant business results. The Contra Costa California Restricted Stock Plan of Guilford Mills, Inc. ensures that employees have a stake in the company's success, aligning their financial interests with those of the company and its shareholders. This not only motivates employees but also encourages them to contribute to Guilford Mills' long-term growth and prosperity.