Salesforce Gratitude Bonus

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Harris
• Control #: US-CC-20-279
• Format: Word; Rich Text

Description

20-279 20-279 . . . Incentive Bonus Plan under which committee of Board of Directors annually awards bonuses to employees of corporation and its subsidiaries and affiliates based on positions of individual employees within corporation and corporation's return on equity for that fiscal year. The target bonus for each fiscal year consists of participant's base compensation for such fiscal year multiplied by target bonus percentage as determined by committee. The earned bonus for each participant equals 100% of his target bonus if corporation achieves 13% return on equity for such fiscal year. If corporation achieves more or less than 13% return on equity, percentage of target bonus is increased or decreased accordingly. The amount of annual bonus is paid in cash, except that for junior and senior executives, 30% of such award is payable in shares of restricted common stock Harris Texas Restated Employee Annual Incentive Bonus Plan is a comprehensive program designed to provide employees with additional compensation for their exceptional performance and contribution towards the success of the company. This plan emphasizes the company's commitment to rewarding employees for their hard work and dedication. The Restated Employee Annual Incentive Bonus Plan of Harris Texas includes various attachments to ensure transparency and to define the eligibility criteria and calculation methods for receiving the bonus. These attachments provide detailed information about the plan's objectives, bonus calculation, eligibility requirements, performance measures, payout schedule, and other relevant policies. Attachment 1: Plan Objectives and Overview This attachment outlines the primary objectives of the Restated Employee Annual Incentive Bonus Plan, which include motivating employees to achieve individual and company-wide goals, fostering a performance-driven culture, and aligning employee performance with corporate objectives. Attachment 2: Eligibility Requirements This attachment defines the criteria that employees must meet to become eligible for the annual incentive bonus. It specifies the employee categories, such as full-time, part-time, and temporary employees, who are eligible for participation in the program. Attachment 3: Bonus Calculation Formula The bonus calculation formula is a crucial attachment that explains how the bonus amount for each eligible employee is determined. This attachment typically includes various performance metrics, such as company profits, individual performance goals, team performance, and customer satisfaction, which are taken into account when determining the bonus amount. Attachment 4: Performance Measures and Weightage This attachment details the specific performance measures used in evaluating employee performance and their respective weightage in the bonus calculation formula. It provides a transparent evaluation framework to ensure fairness and consistency in the bonus allocation process. Attachment 5: Payout Schedule and Conditions The payout schedule attachment outlines the timeline for the disbursement of the annual incentive bonuses. It also includes conditions that must be met by employees to receive their respective bonuses, such as remaining employed with the company until the payout date or attaining certain performance targets. Attachment 6: Bonus Plan Modifications and Termination This attachment describes the circumstances under which modifications or termination of the Restated Employee Annual Incentive Bonus Plan may occur. It ensures that the plan can adapt to changing business environments or strategic objectives while maintaining fairness and compliance. The Harris Texas Restated Employee Annual Incentive Bonus Plan serves as a motivating force for employees, encouraging them to excel in their roles and contribute towards the company's overall success. Through the transparent and inclusive nature of the plan with its various attachments, employees gain a clear understanding of the criteria for receiving the bonus and the metrics used to evaluate their performance. Overall, the Harris Texas Restated Employee Annual Incentive Bonus Plan with its attachments aims to foster a positive work environment, enhance employee engagement, and drive exceptional performance, leading to sustainable growth for the company.

Harris Texas Restated Employee Annual Incentive Bonus Plan is a comprehensive program designed to provide employees with additional compensation for their exceptional performance and contribution towards the success of the company. This plan emphasizes the company's commitment to rewarding employees for their hard work and dedication. The Restated Employee Annual Incentive Bonus Plan of Harris Texas includes various attachments to ensure transparency and to define the eligibility criteria and calculation methods for receiving the bonus. These attachments provide detailed information about the plan's objectives, bonus calculation, eligibility requirements, performance measures, payout schedule, and other relevant policies. Attachment 1: Plan Objectives and Overview This attachment outlines the primary objectives of the Restated Employee Annual Incentive Bonus Plan, which include motivating employees to achieve individual and company-wide goals, fostering a performance-driven culture, and aligning employee performance with corporate objectives. Attachment 2: Eligibility Requirements This attachment defines the criteria that employees must meet to become eligible for the annual incentive bonus. It specifies the employee categories, such as full-time, part-time, and temporary employees, who are eligible for participation in the program. Attachment 3: Bonus Calculation Formula The bonus calculation formula is a crucial attachment that explains how the bonus amount for each eligible employee is determined. This attachment typically includes various performance metrics, such as company profits, individual performance goals, team performance, and customer satisfaction, which are taken into account when determining the bonus amount. Attachment 4: Performance Measures and Weightage This attachment details the specific performance measures used in evaluating employee performance and their respective weightage in the bonus calculation formula. It provides a transparent evaluation framework to ensure fairness and consistency in the bonus allocation process. Attachment 5: Payout Schedule and Conditions The payout schedule attachment outlines the timeline for the disbursement of the annual incentive bonuses. It also includes conditions that must be met by employees to receive their respective bonuses, such as remaining employed with the company until the payout date or attaining certain performance targets. Attachment 6: Bonus Plan Modifications and Termination This attachment describes the circumstances under which modifications or termination of the Restated Employee Annual Incentive Bonus Plan may occur. It ensures that the plan can adapt to changing business environments or strategic objectives while maintaining fairness and compliance. The Harris Texas Restated Employee Annual Incentive Bonus Plan serves as a motivating force for employees, encouraging them to excel in their roles and contribute towards the company's overall success. Through the transparent and inclusive nature of the plan with its various attachments, employees gain a clear understanding of the criteria for receiving the bonus and the metrics used to evaluate their performance. Overall, the Harris Texas Restated Employee Annual Incentive Bonus Plan with its attachments aims to foster a positive work environment, enhance employee engagement, and drive exceptional performance, leading to sustainable growth for the company.