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

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• 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 Indiana Long Term Performance and Restricted Stock Incentive Plan is a compensation program implemented by INALCOL Enterprises, Inc., a company based in Indiana. This plan is designed to incentivize and reward eligible employees for their long-term performance, contributions, and commitment towards the company's growth and success. Under this plan, eligible employees have the opportunity to receive stock-based incentives, which include restricted stock grants. Restricted stock grants are awards of company stock that are subject to certain restrictions, such as a vesting schedule or performance-based criteria, before the employee can fully own and benefit from the shares. These restrictions are put in place to ensure that employees remain committed to the company's long-term objectives and goals. The Indiana Long Term Performance and Restricted Stock Incentive Plan may have different types, depending on the specific provisions and conditions outlined by INALCOL Enterprises, Inc. Some possible variations or types of this plan could include: 1. Performance-Based Restricted Stock Grants: In this type of plan, the eligibility and amount of restricted stock awarded to employees are contingent upon achieving predefined performance goals or targets. For example, employees may need to meet revenue or profitability targets to receive the full allocation of restricted stock. 2. Service-Based Restricted Stock Grants: This type of plan awards restricted stock to employees based on their length of service or tenure with the company. As employees accumulate years of service, they are granted a portion of restricted stock annually, encouraging long-term commitment and loyalty. 3. Combination Plan: INALCOL Enterprises, Inc. may combine both performance-based and service-based elements in their Long Term Performance and Restricted Stock Incentive Plan to create a comprehensive compensation structure. This allows employees to be rewarded for both their individual performance and their dedication and loyalty to the company. Overall, the Indiana Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. aims to motivate employees to enhance their productivity, align their interests with the company's long-term objectives, and retain top talent. This plan provides a valuable opportunity for eligible employees to become shareholders in INALCOL Enterprises, Inc. and benefit from the company's performance and success in the long run.