Alameda California Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Alameda
• Control #: US-CC-20-171D
• Format: Word; Rich Text

Description

20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares The Alameda California Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program offered by the company to its employees based in Alameda, California. This plan aims to incentivize and reward employees by granting them restricted stock, which is a type of company stock that comes with certain restrictions on its sale or transfer. Under this plan, eligible employees receive restricted stock units (RSS) as a form of compensation. RSS are granted as a promise to deliver the company's stock at a future date, subject to certain conditions. The primary condition or restriction typically involves a vesting period, which is the period of time an employee must remain with the company before gaining full ownership of the stock. The Alameda California Restricted Stock Plan offers various types of RSS, each with its own specific features and conditions. These include: 1. Time-based RSS: This type of RSU has a specific vesting schedule based on the employee's length of service with the company. For example, an employee may receive a certain percentage of the RSS every year, with full ownership achieved after a specified number of years. 2. Performance-based RSS: This RSS is granted based on the achievement of predetermined performance goals or metrics set by the company. The performance metrics can be financial, operational, or individual performance targets. Once the goals are met, the RSS may become vested and eligible for issuance. 3. Market condition-based RSS: This RSS is tied to the company's stock performance or market conditions. For instance, if the company's stock reaches a certain price target or if certain market conditions are met, the RSS may become vested. 4. Merit-based RSS: In some cases, the allocation of RSS is based on an employee's individual merit, such as exceptional performance, significant contributions to the company, or critical roles played in specific projects or initiatives. The Alameda California Restricted Stock Plan of Bandstand Corp. is designed to align the interests of employees with those of the company's shareholders, encouraging employees to perform well and contribute to the company's success. It provides employees with the opportunity to share in the growth and profitability of the company, motivating them to achieve both personal and organizational goals. Overall, the Alameda California Restricted Stock Plan of Bandstand Corp. serves as a valuable employee benefit that fosters loyalty, commitment, and long-term dedication among the employees of Bandstand Corp. in Alameda, California.

The Alameda California Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program offered by the company to its employees based in Alameda, California. This plan aims to incentivize and reward employees by granting them restricted stock, which is a type of company stock that comes with certain restrictions on its sale or transfer. Under this plan, eligible employees receive restricted stock units (RSS) as a form of compensation. RSS are granted as a promise to deliver the company's stock at a future date, subject to certain conditions. The primary condition or restriction typically involves a vesting period, which is the period of time an employee must remain with the company before gaining full ownership of the stock. The Alameda California Restricted Stock Plan offers various types of RSS, each with its own specific features and conditions. These include: 1. Time-based RSS: This type of RSU has a specific vesting schedule based on the employee's length of service with the company. For example, an employee may receive a certain percentage of the RSS every year, with full ownership achieved after a specified number of years. 2. Performance-based RSS: This RSS is granted based on the achievement of predetermined performance goals or metrics set by the company. The performance metrics can be financial, operational, or individual performance targets. Once the goals are met, the RSS may become vested and eligible for issuance. 3. Market condition-based RSS: This RSS is tied to the company's stock performance or market conditions. For instance, if the company's stock reaches a certain price target or if certain market conditions are met, the RSS may become vested. 4. Merit-based RSS: In some cases, the allocation of RSS is based on an employee's individual merit, such as exceptional performance, significant contributions to the company, or critical roles played in specific projects or initiatives. The Alameda California Restricted Stock Plan of Bandstand Corp. is designed to align the interests of employees with those of the company's shareholders, encouraging employees to perform well and contribute to the company's success. It provides employees with the opportunity to share in the growth and profitability of the company, motivating them to achieve both personal and organizational goals. Overall, the Alameda California Restricted Stock Plan of Bandstand Corp. serves as a valuable employee benefit that fosters loyalty, commitment, and long-term dedication among the employees of Bandstand Corp. in Alameda, California.