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
Alaska Senior Executive Management Incentive Plan with attachments for The Geon Co.
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How to fill out Senior Executive Management Incentive Plan With Attachments For The Geon Co.?
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Payout Opportunity A Participant's payout target amount under the Plan is determined by pay grade as follows: The range of incentive opportunity for a Plan Participant is 0% to 200% of the Participant's total value target. This means the maximum payout that a Participant can receive from this Plan is 200%.
Executive bonus plans are often popular with top-level employees, but they also provide benefits to your company. In some cases, they can be a more tax-efficient way to reward top talent. They give employees additional compensation with a lower current cost to the employer than some other types of benefits.
An annual incentive plan is a plan for compensation that is earned and paid based upon the achievement of performance goals over a one-year period. These plans motivate performance and align executives' work with the company's short-term performance goals.
Multiply total sales by total bonus percentage. For example, you make $10,000 in sales, and your company offers you a 5% commission. ... $10,000 x .05 = $500. One employee makes $50,000 per year, and the bonus percentage is 3%. ... $50,000 x .03 = $1,500.
Incentive compensation management is the strategic use of incentives to drive better business outcomes and more closely align sales rep behavior with the organization's goals. Incentives can be structured in multiple ways, including straight commissions, bonuses, prizes, ?spiffs,? awards, and recognition.
An annual incentive plan outlines compensation to be paid to employees when they achieve certain performance-related goals over 12 months. This compensation is in addition to their regular salary ? it may be an employee gift, cash incentive, or another type of bonus or reward.
Management Incentive Plan means the Company's bonus program, as implemented by the Company's board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.
An incentive pay plan is a 'bonus' pay over and above their hourly wage that an associate can attain if they meet certain pre-set requirements or criteria. Incentive pay can be productivity based, quality based, safety based, etc.