Santa Clara California Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Santa Clara
• 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 Santa Clara California Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. (hereafter referred to as the "Plan") is an employee compensation program designed to align the interests of employees with the long-term success of the company. It aims to motivate and retain key personnel by offering them incentives in the form of performance-based shares. The Plan consists of two main components: the Long-Term Performance Stock Units (Plus) and the Restricted Stock Units (RSS). Each component has its own set of conditions and guidelines that participants must meet to receive the allocated shares. 1. Long-Term Performance Stock Units (Plus): The Plus are granted to eligible employees based on predefined performance criteria. These criteria measure the company's financial and operational performance over an extended period, typically ranging from three to five years. The performance metrics can include revenue growth, profitability, market share, cost reduction, or other relevant factors. The number of Plus granted is determined by the employee's performance against these metrics, ensuring that rewards are directly linked to the company's overall success. 2. Restricted Stock Units (RSS): The RSS are another component of the Plan and are subject to a vesting schedule. Eligible employees are granted a certain number of RSS, which represent actual shares of the company's stock. However, these shares are restricted and cannot be sold, transferred, or pledged until specific vesting conditions are met. The typical vesting period is three to five years, encouraging employees to stay with the company and contribute to its long-term growth. Once the RSS fully vest, participants have the right to sell or retain the shares. The Santa Clara California Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. serves as a tool to attract, reward, and retain talented individuals within the organization. By linking compensation to the company's performance, the Plan aligns the interests of employees and shareholders and incentivizes consistent growth and success. Moreover, it encourages employees to think and act like shareholders, fostering a sense of ownership and dedication. Overall, the Plan is designed to drive long-term value creation and ensure that employees share in the company's success while promoting stability and commitment to INALCOL Enterprises, Inc. in Santa Clara, California.

The Santa Clara California Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. (hereafter referred to as the "Plan") is an employee compensation program designed to align the interests of employees with the long-term success of the company. It aims to motivate and retain key personnel by offering them incentives in the form of performance-based shares. The Plan consists of two main components: the Long-Term Performance Stock Units (Plus) and the Restricted Stock Units (RSS). Each component has its own set of conditions and guidelines that participants must meet to receive the allocated shares. 1. Long-Term Performance Stock Units (Plus): The Plus are granted to eligible employees based on predefined performance criteria. These criteria measure the company's financial and operational performance over an extended period, typically ranging from three to five years. The performance metrics can include revenue growth, profitability, market share, cost reduction, or other relevant factors. The number of Plus granted is determined by the employee's performance against these metrics, ensuring that rewards are directly linked to the company's overall success. 2. Restricted Stock Units (RSS): The RSS are another component of the Plan and are subject to a vesting schedule. Eligible employees are granted a certain number of RSS, which represent actual shares of the company's stock. However, these shares are restricted and cannot be sold, transferred, or pledged until specific vesting conditions are met. The typical vesting period is three to five years, encouraging employees to stay with the company and contribute to its long-term growth. Once the RSS fully vest, participants have the right to sell or retain the shares. The Santa Clara California Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. serves as a tool to attract, reward, and retain talented individuals within the organization. By linking compensation to the company's performance, the Plan aligns the interests of employees and shareholders and incentivizes consistent growth and success. Moreover, it encourages employees to think and act like shareholders, fostering a sense of ownership and dedication. Overall, the Plan is designed to drive long-term value creation and ensure that employees share in the company's success while promoting stability and commitment to INALCOL Enterprises, Inc. in Santa Clara, California.