Suffolk New York Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Suffolk
• 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 Suffolk New York Restricted Stock Plan of Bandstand Corp. is a comprehensive compensation program designed to reward and incentivize employees of the company while aligning their interests with those of the shareholders. This stock plan is specifically tailored for individuals working in the Suffolk region of New York. Under the Suffolk New York Restricted Stock Plan, employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents a promise to deliver shares of Bandstand Corp.'s common stock to the employees at a predetermined future date, subject to certain conditions. The RSS typically have a vesting period, by which the employees gain ownership of the shares over time or upon achieving specific performance milestones. By implementing this plan, Bandstand Corp. aims to ensure that employees have a vested interest in the company's success and growth, as the value of their RSS will increase in tandem with the stock price. This incentivizes employees to work towards the long-term success of the company, thereby aligning their goals with the overall corporate objectives. The Suffolk New York Restricted Stock Plan of Bandstand Corp. offers various advantages to employees. Firstly, it provides an opportunity to participate in the company's financial achievements and growth. Secondly, it enables employees to build wealth and financial security over time as the RSS vest. Moreover, by tying compensation to the company's performance, the plan encourages employees to stay with the organization and contribute to its sustained success. It's important to note that there may be different variations or sub-plans within the Suffolk New York Restricted Stock Plan, depending on an employee's level within the organization or their specific role. These variations could include executive restricted stock plans, director restricted stock plans, or employee stock purchase plans. Each variation may have its unique conditions, vesting schedules, or eligibility criteria, tailored to the respective employee groups. In summary, the Suffolk New York Restricted Stock Plan of Bandstand Corp. is a well-structured compensation program designed to align the interests of employees with those of the company and its shareholders. It provides employees in the Suffolk region of New York with an opportunity to receive and accumulate shares of the company's stock, thereby fostering their long-term commitment and contribution to its success.

The Suffolk New York Restricted Stock Plan of Bandstand Corp. is a comprehensive compensation program designed to reward and incentivize employees of the company while aligning their interests with those of the shareholders. This stock plan is specifically tailored for individuals working in the Suffolk region of New York. Under the Suffolk New York Restricted Stock Plan, employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents a promise to deliver shares of Bandstand Corp.'s common stock to the employees at a predetermined future date, subject to certain conditions. The RSS typically have a vesting period, by which the employees gain ownership of the shares over time or upon achieving specific performance milestones. By implementing this plan, Bandstand Corp. aims to ensure that employees have a vested interest in the company's success and growth, as the value of their RSS will increase in tandem with the stock price. This incentivizes employees to work towards the long-term success of the company, thereby aligning their goals with the overall corporate objectives. The Suffolk New York Restricted Stock Plan of Bandstand Corp. offers various advantages to employees. Firstly, it provides an opportunity to participate in the company's financial achievements and growth. Secondly, it enables employees to build wealth and financial security over time as the RSS vest. Moreover, by tying compensation to the company's performance, the plan encourages employees to stay with the organization and contribute to its sustained success. It's important to note that there may be different variations or sub-plans within the Suffolk New York Restricted Stock Plan, depending on an employee's level within the organization or their specific role. These variations could include executive restricted stock plans, director restricted stock plans, or employee stock purchase plans. Each variation may have its unique conditions, vesting schedules, or eligibility criteria, tailored to the respective employee groups. In summary, the Suffolk New York Restricted Stock Plan of Bandstand Corp. is a well-structured compensation program designed to align the interests of employees with those of the company and its shareholders. It provides employees in the Suffolk region of New York with an opportunity to receive and accumulate shares of the company's stock, thereby fostering their long-term commitment and contribution to its success.