This excerpt taken from the MLP DEF 14A filed Mar 27, 2006.
2006 EQUITY AND INCENTIVE AWARD PLAN
Maui Land & Pineapple Company, Inc., a Hawaii corporation (the Company), by resolution of its Board of Directors, hereby adopts the Maui Land & Pineapple Company, Inc. 2006 Equity and Incentive Award Plan (the Plan). The Plan will become effective upon the approval of the Companys shareholders (the Effective Date).
The purpose of the Plan is to promote the success and enhance the value of the Company by linking the personal interests of the members of the Board, Employees, and Consultants to those of the Companys shareholders and by providing such individuals with an incentive for outstanding performance to generate superior returns to the Companys shareholders. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of members of the Board, Employees, and Consultants upon whose judgment, interest, and special effort the successful conduct of the Companys operation is largely dependent.