Alaska Senior Executive Management Incentive Plan with attachments for The Geon Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-234
• Format: Word; Rich Text

Description

20-234 20-234 . . . Senior Executive Management Incentive Plan which is similar to corporation's existing annual bonus program except for changes necessary to cause incentive compensation to qualify as performance-based compensation under Section 162(m) of Internal Revenue Code. Under Plan, (a) key executives who have potential to influence significantly and positively the performance of corporation are selected by Committee, (b) participants are assigned to an incentive category based on organizational level and potential impact on corporation results, (c) participant categories define level of incentive opportunity, stated as a percentage (up to maximum of 200%) of base salary, that will be available to participant (Incentive Percentage), and (d) Committee uses measures of corporation performance to determine performance goal target levels. Performance measures include one or more of following: (i) return to stockholders, (ii) cash flow, (iii) return on equity, (iv) corporation created income, (v) sales growth, (vi) earnings and earnings growth, (vii) return on assets, (viii) stock price, (ix) earnings per share, (x) market share, (xi) customer satisfaction, and (xii) safety and/or environmental performance. Selected performance measures are weighted by Committee each year to reflect their relative importance to corporation in that Plan Year. A portion of each participant's award, as determined by Committee, is paid in form of restricted stock. Participants can elect additional optional deferrals so that they may receive up to 100% of their award as restricted stock. Any award paid as restricted stock is enhanced with a 25% premium; i.e., for every $100 deferred, participant will receive $125 in restricted stock The Alaska Senior Executive Management Incentive Plan is a performance-based compensation program designed for top-level executives at The Leon Co. This plan aims to motivate and reward senior executives for achieving strategic goals and delivering exceptional performance. Under this plan, senior executives are eligible to receive a variety of financial incentives based on their overall performance and the company's success. The program includes several types of incentives and attachments that offer attractive benefits to motivate and retain highly skilled executives. These attachments may include: 1. Performance-Based Bonuses: The plan offers performance-based bonuses that are tied to specific targets and milestones. These bonuses are awarded to executives who exceed performance metrics related to financial growth, profitability, market share, customer satisfaction, and other key performance indicators. 2. Stock Options: The Leon Co. may provide senior executives with stock options as part of the incentive plan. These options enable executives to purchase company stock at a predetermined price, allowing them to benefit from the company's growth and performance in the long term. 3. Equity Compensation: Senior executives may also receive equity compensation in the form of restricted stock units (RSS) or performance share units (Plus). These grants provide executives with a certain number of shares or units that vest over time or upon achieving specific performance goals. 4. Long-Term Incentive Plans: The plan may include long-term incentives such as cash or equity-based awards that vest over an extended period. These incentives are designed to align executives' interests with long-term shareholder value creation. 5. Deferred Compensation: The Leon Co. may offer deferred compensation arrangements under the incentive plan, allowing executives to defer a portion of their annual compensation to a later date, typically after retirement. This enables executives to take advantage of potential tax benefits and receive compensation in the future. 6. Performance Evaluation Criteria: To determine eligibility and the amount of incentives, the Alaska Senior Executive Management Incentive Plan uses specific performance evaluation criteria. These criteria encompass both financial and non-financial metrics, which may include revenue growth, cost management, employee development, innovation, and strategic execution. It's important to note that the exact attachments and types of incentive plans may vary depending on the specific needs and objectives of The Leon Co. The company may tailor the incentive plan for different senior executive levels or roles within the organization, ensuring that each executive's rewards reflect their responsibilities and impact on company performance. By implementing the Alaska Senior Executive Management Incentive Plan and its various attachments, The Leon Co. aims to attract, motivate, and retain top-tier executive talent while aligning their objectives with the company's strategic goals, ultimately driving sustainable growth and maximizing shareholder value.

The Alaska Senior Executive Management Incentive Plan is a performance-based compensation program designed for top-level executives at The Leon Co. This plan aims to motivate and reward senior executives for achieving strategic goals and delivering exceptional performance. Under this plan, senior executives are eligible to receive a variety of financial incentives based on their overall performance and the company's success. The program includes several types of incentives and attachments that offer attractive benefits to motivate and retain highly skilled executives. These attachments may include: 1. Performance-Based Bonuses: The plan offers performance-based bonuses that are tied to specific targets and milestones. These bonuses are awarded to executives who exceed performance metrics related to financial growth, profitability, market share, customer satisfaction, and other key performance indicators. 2. Stock Options: The Leon Co. may provide senior executives with stock options as part of the incentive plan. These options enable executives to purchase company stock at a predetermined price, allowing them to benefit from the company's growth and performance in the long term. 3. Equity Compensation: Senior executives may also receive equity compensation in the form of restricted stock units (RSS) or performance share units (Plus). These grants provide executives with a certain number of shares or units that vest over time or upon achieving specific performance goals. 4. Long-Term Incentive Plans: The plan may include long-term incentives such as cash or equity-based awards that vest over an extended period. These incentives are designed to align executives' interests with long-term shareholder value creation. 5. Deferred Compensation: The Leon Co. may offer deferred compensation arrangements under the incentive plan, allowing executives to defer a portion of their annual compensation to a later date, typically after retirement. This enables executives to take advantage of potential tax benefits and receive compensation in the future. 6. Performance Evaluation Criteria: To determine eligibility and the amount of incentives, the Alaska Senior Executive Management Incentive Plan uses specific performance evaluation criteria. These criteria encompass both financial and non-financial metrics, which may include revenue growth, cost management, employee development, innovation, and strategic execution. It's important to note that the exact attachments and types of incentive plans may vary depending on the specific needs and objectives of The Leon Co. The company may tailor the incentive plan for different senior executive levels or roles within the organization, ensuring that each executive's rewards reflect their responsibilities and impact on company performance. By implementing the Alaska Senior Executive Management Incentive Plan and its various attachments, The Leon Co. aims to attract, motivate, and retain top-tier executive talent while aligning their objectives with the company's strategic goals, ultimately driving sustainable growth and maximizing shareholder value.