Dynegy Inc. (NYSE: DYN), based in Houston, Texas, United States, is a large owner and operator of power plants and a player in the natural gas liquids and coal business. The corporate headquarters are in Suite 5800 in the Wells Fargo Plaza at 1000 Louisiana Street in Downtown Houston.[4]
Once known as "The Natural Gas Clearinghouse," Dynegy adopted the "New Economy" branding in 1998, after which the company structured itself in a manner similar to Enron, launching several business ventures, including an online trading platform and broadband communications services, which could be misconstrued of those of its larger rival.
The company was dubbed the "king of coal" by the National Environmental Trust.
Retention
Dynegy offers excellent benefit packages and ongoing career development programs. We also offer casual work attire, encourage community involvement and recognize employee excellence. We value our employees and are always looking for new ways to express our commitment.
As a Dynegy employee, you have a variety of benefit plans available to you to include employee-oriented benefits and programs that provide assistance in maintaining the critical balance between home and work. In appreciation of the special talents and dedication of our people, Dynegy provides varied and comprehensive benefits, compensation and recognition programs:
Compensation & Incentive Pay
Dynegy pays for performance. Your salary growth and opportunity for promotion are based on your individual performance and contributions to the success of Dynegy. We maintain market and internal data sources to ensure our compensation package remains current and competitive in this ever-changing employment market. Our compensation program also includes a performance-based incentive bonus program.
Health & Dental
At Dynegy, your health and dental plans are available to you upon employment. We provide a choice of comprehensive major medical and dental plans. Our core plan is a PPO; however, we also have an option of an HMO in certain regional areas. The terms of our plan are above average for your coverage and out-of-pocket protection.
401(k) Savings Plan
You are eligible to contribute to the 401(k) Savings Plan on a pretax basis, in one percent increments of your base pay up to the annual before-tax contribution limit set by the IRS. The company makes matching contribution, in company stock, to your 401(k) savings account based on your contributions and plan eligibility provisions.
Retirement Plan
Regular full-time employees also receive an annual company credit equal to 6% of your annual base pay into the Portable Retirement Benefit Plan or credited company service in a defined benefit retirement plan based on plan eligibility.
Flexible Work Schedule
It is essential that the company continue to create a work environment that is challenging and conducive to maximum performance, while providing employees with an appropriate balance between their work and personal lives. Dynegy offers a 9/80 flexible work schedule as an alternative that allows all eligible employees the ability to have every other Friday off while continuing to meet the needs of the business. The 9/80 work schedule provides eligible employees with the ability to have every other Friday off by adding an additional hour to eight out of nine workdays.
Time Away from Work
An important benefit of your total reward package at Dynegy is time away from work-whether it’s for travel or recreation, to recuperate from illness or care for a sick family member, to perform your civic duty or celebrate holidays. Our programs, provided at no cost, provide employees with a personal paid time bank each year that provides the freedom to take time away from work for vacation, holidays not observed by the company, or for any other personal reasons. In addition, a bank of sicktime is available each year to use for your own occasional or extended injury or illness, or for pregnancy. Other leave programs at Dynegy include long-term disability, new parent leave, family illness leave, military leave, and family and medical leaves.
Long-term incentive awards serve as the most significant at-risk element of the executive’s total compensation package and focus on the attainment of long-term performance goals and objectives, which are deemed instrumental in creating long-term value for stockholders and long-term retention incentives for our executives. Long-term incentives, in the form of equity-based awards that generally do not fully vest until three years after the grant date, are structured to achieve a variety of long-term objectives, including: retaining executives; aligning executives’ financial interests with the interests of stockholders; and rewarding the achievement of long-term specified strategic goals and/or superior stock price performance. We generally target within range of the 60th percentile of the market for long-term incentive awards. Long-term incentive awards for executives are generally granted at the same time that annual cash incentive awards are paid for performance in the prior year.
For awards granted in March 2009, the Human Resources Committee granted long-term incentive awards to our executives in the form of stock options, cash-settled phantom stock units and performance unit awards. The Human Resources Committee, in making its 2009 long-term incentive award determinations, was particularly focused on the need for executive retention given the relatively low level of equity incentives existing prior to these 2009 awards and chose award levels designed to increase retention incentives. It is the Human Resources Committee’s belief that these increased award levels increase the alignment of long-term incentive opportunities for our executives with the expectation of attaining a higher than median level of performance. The Human Resources Committee believes that the increased award levels for 2009 align the near-term and long-term interests of our executives with those of our stockholders and further support our stated emphasis on financial performance.
The phantom stock unit awards were made under the 2009 Phantom Stock Plan and are designed to provide retention incentives and stockholder alignment similar to restricted stock awards but in a manner that does not utilize shares previously authorized for grant under our other long-term incentive plans.
Once known as "The Natural Gas Clearinghouse," Dynegy adopted the "New Economy" branding in 1998, after which the company structured itself in a manner similar to Enron, launching several business ventures, including an online trading platform and broadband communications services, which could be misconstrued of those of its larger rival.
The company was dubbed the "king of coal" by the National Environmental Trust.
Retention
Dynegy offers excellent benefit packages and ongoing career development programs. We also offer casual work attire, encourage community involvement and recognize employee excellence. We value our employees and are always looking for new ways to express our commitment.
As a Dynegy employee, you have a variety of benefit plans available to you to include employee-oriented benefits and programs that provide assistance in maintaining the critical balance between home and work. In appreciation of the special talents and dedication of our people, Dynegy provides varied and comprehensive benefits, compensation and recognition programs:
Compensation & Incentive Pay
Dynegy pays for performance. Your salary growth and opportunity for promotion are based on your individual performance and contributions to the success of Dynegy. We maintain market and internal data sources to ensure our compensation package remains current and competitive in this ever-changing employment market. Our compensation program also includes a performance-based incentive bonus program.
Health & Dental
At Dynegy, your health and dental plans are available to you upon employment. We provide a choice of comprehensive major medical and dental plans. Our core plan is a PPO; however, we also have an option of an HMO in certain regional areas. The terms of our plan are above average for your coverage and out-of-pocket protection.
401(k) Savings Plan
You are eligible to contribute to the 401(k) Savings Plan on a pretax basis, in one percent increments of your base pay up to the annual before-tax contribution limit set by the IRS. The company makes matching contribution, in company stock, to your 401(k) savings account based on your contributions and plan eligibility provisions.
Retirement Plan
Regular full-time employees also receive an annual company credit equal to 6% of your annual base pay into the Portable Retirement Benefit Plan or credited company service in a defined benefit retirement plan based on plan eligibility.
Flexible Work Schedule
It is essential that the company continue to create a work environment that is challenging and conducive to maximum performance, while providing employees with an appropriate balance between their work and personal lives. Dynegy offers a 9/80 flexible work schedule as an alternative that allows all eligible employees the ability to have every other Friday off while continuing to meet the needs of the business. The 9/80 work schedule provides eligible employees with the ability to have every other Friday off by adding an additional hour to eight out of nine workdays.
Time Away from Work
An important benefit of your total reward package at Dynegy is time away from work-whether it’s for travel or recreation, to recuperate from illness or care for a sick family member, to perform your civic duty or celebrate holidays. Our programs, provided at no cost, provide employees with a personal paid time bank each year that provides the freedom to take time away from work for vacation, holidays not observed by the company, or for any other personal reasons. In addition, a bank of sicktime is available each year to use for your own occasional or extended injury or illness, or for pregnancy. Other leave programs at Dynegy include long-term disability, new parent leave, family illness leave, military leave, and family and medical leaves.
Long-term incentive awards serve as the most significant at-risk element of the executive’s total compensation package and focus on the attainment of long-term performance goals and objectives, which are deemed instrumental in creating long-term value for stockholders and long-term retention incentives for our executives. Long-term incentives, in the form of equity-based awards that generally do not fully vest until three years after the grant date, are structured to achieve a variety of long-term objectives, including: retaining executives; aligning executives’ financial interests with the interests of stockholders; and rewarding the achievement of long-term specified strategic goals and/or superior stock price performance. We generally target within range of the 60th percentile of the market for long-term incentive awards. Long-term incentive awards for executives are generally granted at the same time that annual cash incentive awards are paid for performance in the prior year.
For awards granted in March 2009, the Human Resources Committee granted long-term incentive awards to our executives in the form of stock options, cash-settled phantom stock units and performance unit awards. The Human Resources Committee, in making its 2009 long-term incentive award determinations, was particularly focused on the need for executive retention given the relatively low level of equity incentives existing prior to these 2009 awards and chose award levels designed to increase retention incentives. It is the Human Resources Committee’s belief that these increased award levels increase the alignment of long-term incentive opportunities for our executives with the expectation of attaining a higher than median level of performance. The Human Resources Committee believes that the increased award levels for 2009 align the near-term and long-term interests of our executives with those of our stockholders and further support our stated emphasis on financial performance.
The phantom stock unit awards were made under the 2009 Phantom Stock Plan and are designed to provide retention incentives and stockholder alignment similar to restricted stock awards but in a manner that does not utilize shares previously authorized for grant under our other long-term incentive plans.
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