Santa Clara California Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Santa Clara
• 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 Santa Clara California Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program designed to offer stock-based incentives to eligible employees based in Santa Clara, California. This plan aims to reward and motivate employees while aligning their interests with the long-term success of Bandstand Corp. Under this plan, selected employees are granted restricted stock units (RSS) as part of their compensation package. RSS represents a certain number of shares of Bandstand Corp. stock that are granted to employees on a vesting schedule. Vesting typically occurs over a specific period, ensuring that employees remain with the company for a predetermined timeframe to receive the full benefit of the granted shares. The Santa Clara California Restricted Stock Plan offers various types of RSS based on specific eligibility criteria and employee positions within the organization. These types may include: 1. Performance-Based RSS: This RSS is granted to employees based on their achievement of predetermined performance targets, such as individual or company-wide goals. The performance criteria are established to promote excellence, drive the overall growth of the corporation, and reward exceptional performance accordingly. 2. Time-Based RSS: Also known as service-based RSS, these units vest over a specific period, usually a number of years. By granting time-based RSS, Bandstand Corp. encourages employees to remain committed to the company, contributing to its long-term success and cultivating loyalty within the workforce. 3. Promotion-Based RSS: As employees progress within the organization and achieve higher-level positions, they may become eligible for promotion-based RSS. This RSS is granted to recognize and reward the commitment, expertise, and value-added contributions of employees as they move up the corporate ladder. 4. Retention-Based RSS: To retain valuable and high-performing employees, retention-based RSS may be granted. This RSS is typically offered during pivotal periods, such as mergers, acquisitions, or significant corporate changes, aiming to motivate employees to stay with the company during transitions or uncertainties. It is worth noting that the specific details of the Santa Clara California Restricted Stock Plan vary for different employees and may be subject to additional terms, conditions, or restrictions outlined in employment contracts or supplementary agreements. Employees should refer to the plan documents and consult with human resources or legal professionals to fully understand the provisions and implications of the plan.

The Santa Clara California Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program designed to offer stock-based incentives to eligible employees based in Santa Clara, California. This plan aims to reward and motivate employees while aligning their interests with the long-term success of Bandstand Corp. Under this plan, selected employees are granted restricted stock units (RSS) as part of their compensation package. RSS represents a certain number of shares of Bandstand Corp. stock that are granted to employees on a vesting schedule. Vesting typically occurs over a specific period, ensuring that employees remain with the company for a predetermined timeframe to receive the full benefit of the granted shares. The Santa Clara California Restricted Stock Plan offers various types of RSS based on specific eligibility criteria and employee positions within the organization. These types may include: 1. Performance-Based RSS: This RSS is granted to employees based on their achievement of predetermined performance targets, such as individual or company-wide goals. The performance criteria are established to promote excellence, drive the overall growth of the corporation, and reward exceptional performance accordingly. 2. Time-Based RSS: Also known as service-based RSS, these units vest over a specific period, usually a number of years. By granting time-based RSS, Bandstand Corp. encourages employees to remain committed to the company, contributing to its long-term success and cultivating loyalty within the workforce. 3. Promotion-Based RSS: As employees progress within the organization and achieve higher-level positions, they may become eligible for promotion-based RSS. This RSS is granted to recognize and reward the commitment, expertise, and value-added contributions of employees as they move up the corporate ladder. 4. Retention-Based RSS: To retain valuable and high-performing employees, retention-based RSS may be granted. This RSS is typically offered during pivotal periods, such as mergers, acquisitions, or significant corporate changes, aiming to motivate employees to stay with the company during transitions or uncertainties. It is worth noting that the specific details of the Santa Clara California Restricted Stock Plan vary for different employees and may be subject to additional terms, conditions, or restrictions outlined in employment contracts or supplementary agreements. Employees should refer to the plan documents and consult with human resources or legal professionals to fully understand the provisions and implications of the plan.