Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Wake
• 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 Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises Inc. is a comprehensive compensation plan designed to reward key employees of the company based on their long-term performance and contributions to business growth. This plan aims to align the interests of these employees with the company's objectives, ultimately driving sustainable success. The Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan consists of two distinct components: the Long Term Performance Incentive (LPI) and the Restricted Stock Incentive (RSI). 1. Long Term Performance Incentive (LPI): Under this component, eligible employees are given the opportunity to earn performance-based awards based on predetermined goals and targets set by INALCOL Enterprises Inc. These goals are typically related to the company's financial performance, profitability, revenue growth, market share, or other key performance indicators pertinent to the business. The LPI awards are subject to a specific performance assessment period, usually spanning multiple years. At the end of the assessment period, the value of the LPI awards is determined based on the extent to which the set goals have been achieved. These awards may be granted in the form of cash, stock options, or a combination thereof, depending on the employee's preference and the discretion of INALCOL Enterprises Inc. 2. Restricted Stock Incentive (RSI): The RSI component of the Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan involves the grant of restricted stock units (RSS) to eligible employees. RSS represents a promise to deliver a certain number of company stock shares to the employee at a future date, subject to specific vesting conditions. Typically, the RSS granted have a vesting period, during which the employee needs to fulfill certain requirements, such as remaining employed with INALCOL Enterprises Inc. or achieving specific performance milestones. Once the RSS have vested, the employee becomes entitled to receive the underlying shares of company stock or their cash equivalent. The Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan plays a crucial role in attracting, motivating, and retaining top talent within INALCOL Enterprises Inc. by providing a competitive compensation package that rewards long-term commitment and exceptional performance. It incentivizes employees to align their efforts with the strategic objectives of the company, promoting sustainable growth and shareholder value creation. Overall, the Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan demonstrates INALCOL Enterprises Inc.'s commitment to recognizing and rewarding the hard work, dedication, and achievements of its key employees, ensuring long-term success and prosperity for both the employees and the company.

The Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises Inc. is a comprehensive compensation plan designed to reward key employees of the company based on their long-term performance and contributions to business growth. This plan aims to align the interests of these employees with the company's objectives, ultimately driving sustainable success. The Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan consists of two distinct components: the Long Term Performance Incentive (LPI) and the Restricted Stock Incentive (RSI). 1. Long Term Performance Incentive (LPI): Under this component, eligible employees are given the opportunity to earn performance-based awards based on predetermined goals and targets set by INALCOL Enterprises Inc. These goals are typically related to the company's financial performance, profitability, revenue growth, market share, or other key performance indicators pertinent to the business. The LPI awards are subject to a specific performance assessment period, usually spanning multiple years. At the end of the assessment period, the value of the LPI awards is determined based on the extent to which the set goals have been achieved. These awards may be granted in the form of cash, stock options, or a combination thereof, depending on the employee's preference and the discretion of INALCOL Enterprises Inc. 2. Restricted Stock Incentive (RSI): The RSI component of the Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan involves the grant of restricted stock units (RSS) to eligible employees. RSS represents a promise to deliver a certain number of company stock shares to the employee at a future date, subject to specific vesting conditions. Typically, the RSS granted have a vesting period, during which the employee needs to fulfill certain requirements, such as remaining employed with INALCOL Enterprises Inc. or achieving specific performance milestones. Once the RSS have vested, the employee becomes entitled to receive the underlying shares of company stock or their cash equivalent. The Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan plays a crucial role in attracting, motivating, and retaining top talent within INALCOL Enterprises Inc. by providing a competitive compensation package that rewards long-term commitment and exceptional performance. It incentivizes employees to align their efforts with the strategic objectives of the company, promoting sustainable growth and shareholder value creation. Overall, the Wake North Carolina Long Term Performance and Restricted Stock Incentive Plan demonstrates INALCOL Enterprises Inc.'s commitment to recognizing and rewarding the hard work, dedication, and achievements of its key employees, ensuring long-term success and prosperity for both the employees and the company.