EXECUTIVE COMPENSATION. James Wells Catherine Koene Pamela Feldkamp Josh Proksch Lorcan Duffy Francis Moniz. What is Executive Compensation. Agency contract between firm and manager
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1. Salary, paid in cash
2. Short term incentive plan bonus awards paid in cash or if the executive elects, in deferred share units, where deferred share units are converted into RBC common shares after 3 years.
3. Mid-term incentive plan awards paid in deferred share units
4. Long-term incentive plan awards paid in stock options (ESOs)
Note: bonus deferrals, vesting periods for deferred share units and ESOs, and required share holdings, decrease the ability of executives to diversify their investment portfolios which causes them to bear firm-specific risk