Harris Texas Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Harris
• Control #: US-CC-20-174D
• Format: Word; Rich Text

Description

20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited The Harris Texas Long Term Performance and Restricted Stock Incentive Plan is specifically tailored to provide incentives and rewards for employees of INALCOL Enterprises, Inc. operating in the Harris County, Texas area. Designed to attract, motivate, and retain top talent, this robust plan combines long-term performance goals with restricted stock grants to align employee interests with the company's success. The plan is composed of two key components: the Long Term Performance (LAP) and the Restricted Stock Incentive (RSI). Under the LAP, eligible employees set specific performance goals that must be achieved over a predetermined period, typically ranging from three to five years. These goals might include revenue growth, cost reduction, customer satisfaction, or other metrics closely tied to the company's strategic objectives. Successful attainment of these goals results in substantial rewards, typically in the form of cash bonuses or additional equity awards. The RSI aspect of the plan provides employees with restricted stock grants. These grants are typically subject to vesting restrictions, ensuring that employees remain engaged and committed to the company's long-term success. The vesting schedule specifies a timeframe or performance milestones that must be met before the employee fully owns the granted shares. This incentivizes participants to remain with the company and actively contribute to its growth. Employees who participate in the Harris Texas Long Term Performance and Restricted Stock Incentive Plan have the opportunity to benefit from a range of potential awards. The specific type and amount of awards can vary based on factors such as job level, performance, and tenure. Stock options, performance share units (Plus), restricted stock units (RSS), and cash bonuses are examples of possible rewards under this plan. The plan aims to create a strong performance-driven culture within INALCOL Enterprises, Inc., where employees are empowered to contribute to the company's overall success. With a focus on long-term goals and retention, the Harris Texas Long Term Performance and Restricted Stock Incentive Plan fosters a sense of ownership and aligns employees' interests with those of the organization. By using this plan, INALCOL Enterprises, Inc. can attract and motivate top talent while promoting a culture of accountability and achievement. Overall, the Harris Texas Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. offers employees in Harris County, Texas the opportunity to receive rewards and recognition for their contributions to the company's performance. Through a combination of long-term goals and restricted stock grants, this comprehensive plan incentivizes employees to drive the company's growth and remain committed to its success.

The Harris Texas Long Term Performance and Restricted Stock Incentive Plan is specifically tailored to provide incentives and rewards for employees of INALCOL Enterprises, Inc. operating in the Harris County, Texas area. Designed to attract, motivate, and retain top talent, this robust plan combines long-term performance goals with restricted stock grants to align employee interests with the company's success. The plan is composed of two key components: the Long Term Performance (LAP) and the Restricted Stock Incentive (RSI). Under the LAP, eligible employees set specific performance goals that must be achieved over a predetermined period, typically ranging from three to five years. These goals might include revenue growth, cost reduction, customer satisfaction, or other metrics closely tied to the company's strategic objectives. Successful attainment of these goals results in substantial rewards, typically in the form of cash bonuses or additional equity awards. The RSI aspect of the plan provides employees with restricted stock grants. These grants are typically subject to vesting restrictions, ensuring that employees remain engaged and committed to the company's long-term success. The vesting schedule specifies a timeframe or performance milestones that must be met before the employee fully owns the granted shares. This incentivizes participants to remain with the company and actively contribute to its growth. Employees who participate in the Harris Texas Long Term Performance and Restricted Stock Incentive Plan have the opportunity to benefit from a range of potential awards. The specific type and amount of awards can vary based on factors such as job level, performance, and tenure. Stock options, performance share units (Plus), restricted stock units (RSS), and cash bonuses are examples of possible rewards under this plan. The plan aims to create a strong performance-driven culture within INALCOL Enterprises, Inc., where employees are empowered to contribute to the company's overall success. With a focus on long-term goals and retention, the Harris Texas Long Term Performance and Restricted Stock Incentive Plan fosters a sense of ownership and aligns employees' interests with those of the organization. By using this plan, INALCOL Enterprises, Inc. can attract and motivate top talent while promoting a culture of accountability and achievement. Overall, the Harris Texas Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. offers employees in Harris County, Texas the opportunity to receive rewards and recognition for their contributions to the company's performance. Through a combination of long-term goals and restricted stock grants, this comprehensive plan incentivizes employees to drive the company's growth and remain committed to its success.