Arizona 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 Title: Arizona Senior Executive Management Incentive Plan for The Leon Co. Introduction: The Arizona Senior Executive Management Incentive Plan (ASE MIP) is a comprehensive incentive program designed to motivate and reward senior executives at The Leon Co. Based in Arizona, this plan aims to align the objectives and goals of the organization with the performance and achievements of its senior leadership team. This detailed description delves into the main components, benefits, and various attachments associated with the ASE MIP. Key Features of the ASE MIP: 1. Performance-Based Incentives: The ASE MIP provides executives at The Leon Co. with a performance-based framework, linking rewards to measurable outcomes tied to specific goals and performance metrics. 2. Financial Rewards: Executives have the opportunity to earn lucrative financial rewards based on their individual and collective achievements. These rewards are structured to encourage exceptional performance and the attainment of strategic objectives. 3. Long-Term Incentives: The ASE MIP offers long-term incentives to senior executives, providing them with an ample opportunity for wealth accumulation and fostering their commitment to the long-term growth and success of The Leon Co. 4. Customizable and Flexible: The plan can be tailored to meet the unique needs and circumstances of The Leon Co. and its senior leadership team, including different performance indicators, incentive weights, and evaluation periods. 5. Retention and Attraction: ASE MIP serves as a tool for attracting top-tier talent and retaining experienced senior executives by offering competitive compensation packages and ample growth opportunities within the company. Attachments: 1. Performance Metrics Document: This attachment outlines the performance indicators utilized under the ASE MIP framework. It includes a detailed description of each metric, along with the methodology for goal-setting and performance evaluation. 2. Targets and Incentive Weights: This attachment establishes specific targets and incentive weights for each performance metric. It provides a clear understanding of the weightage assigned to each goal, enabling executives to focus efforts accordingly. 3. Reward Structure: This attachment details the monetary rewards associated with the attainment of predefined performance objectives. It clarifies the payout structure, earning potential, and bonus scales to ensure transparency and motivate executives to achieve outstanding results. 4. Equity and Stock Options: The ASE MIP may also encompass equity-based incentives, including stock options, restricted stock units, or performance shares. This attachment provides an overview of equity-related rewards and outlines the terms, vesting schedules, and eligibility criteria. 5. Plan Administration Guidelines: This attachment outlines the administrative aspects of the ASE MIP, such as eligibility criteria, plan governance, compliance requirements, and the process for dispute resolution. 6. Communication and Rollout Strategy: This attachment focuses on how The Leon Co. communicates the ASE MIP to its senior executives. It describes how performance targets, reward structures, and general plan information are effectively conveyed to the participants. Different Types of ASE MIP (if applicable): It's important to note that the ASE MIP offered by The Leon Co. may have different variations or tiers based on executive positions, levels of responsibility, and specific business units. Possible divisions could include: 1. Senior Executive Management Incentive Plan Divisionna: - Tailored to divisional executives with distinct performance indicators relevant to their respective areas of responsibility. 2. Senior Executive Management Incentive Plan — C-Suite— - Designed exclusively for the top-level executives, such as the CEO, CFO, CTO, etc., with an emphasis on overall company performance and strategic leadership. Conclusion: The Arizona Senior Executive Management Incentive Plan (ASE MIP) at The Leon Co. is a comprehensive incentivization program that aims to drive superior performance and align the goals of senior executives with the company's objectives. The described attachments provide further insights into the plan's structure, performance metrics, reward structures, and administration guidelines. By implementing the ASE MIP, The Leon Co. demonstrates its commitment to attracting, motivating, and retaining top senior talent to ensure the sustained growth and success of the organization.

Title: Arizona Senior Executive Management Incentive Plan for The Leon Co. Introduction: The Arizona Senior Executive Management Incentive Plan (ASE MIP) is a comprehensive incentive program designed to motivate and reward senior executives at The Leon Co. Based in Arizona, this plan aims to align the objectives and goals of the organization with the performance and achievements of its senior leadership team. This detailed description delves into the main components, benefits, and various attachments associated with the ASE MIP. Key Features of the ASE MIP: 1. Performance-Based Incentives: The ASE MIP provides executives at The Leon Co. with a performance-based framework, linking rewards to measurable outcomes tied to specific goals and performance metrics. 2. Financial Rewards: Executives have the opportunity to earn lucrative financial rewards based on their individual and collective achievements. These rewards are structured to encourage exceptional performance and the attainment of strategic objectives. 3. Long-Term Incentives: The ASE MIP offers long-term incentives to senior executives, providing them with an ample opportunity for wealth accumulation and fostering their commitment to the long-term growth and success of The Leon Co. 4. Customizable and Flexible: The plan can be tailored to meet the unique needs and circumstances of The Leon Co. and its senior leadership team, including different performance indicators, incentive weights, and evaluation periods. 5. Retention and Attraction: ASE MIP serves as a tool for attracting top-tier talent and retaining experienced senior executives by offering competitive compensation packages and ample growth opportunities within the company. Attachments: 1. Performance Metrics Document: This attachment outlines the performance indicators utilized under the ASE MIP framework. It includes a detailed description of each metric, along with the methodology for goal-setting and performance evaluation. 2. Targets and Incentive Weights: This attachment establishes specific targets and incentive weights for each performance metric. It provides a clear understanding of the weightage assigned to each goal, enabling executives to focus efforts accordingly. 3. Reward Structure: This attachment details the monetary rewards associated with the attainment of predefined performance objectives. It clarifies the payout structure, earning potential, and bonus scales to ensure transparency and motivate executives to achieve outstanding results. 4. Equity and Stock Options: The ASE MIP may also encompass equity-based incentives, including stock options, restricted stock units, or performance shares. This attachment provides an overview of equity-related rewards and outlines the terms, vesting schedules, and eligibility criteria. 5. Plan Administration Guidelines: This attachment outlines the administrative aspects of the ASE MIP, such as eligibility criteria, plan governance, compliance requirements, and the process for dispute resolution. 6. Communication and Rollout Strategy: This attachment focuses on how The Leon Co. communicates the ASE MIP to its senior executives. It describes how performance targets, reward structures, and general plan information are effectively conveyed to the participants. Different Types of ASE MIP (if applicable): It's important to note that the ASE MIP offered by The Leon Co. may have different variations or tiers based on executive positions, levels of responsibility, and specific business units. Possible divisions could include: 1. Senior Executive Management Incentive Plan Divisionna: - Tailored to divisional executives with distinct performance indicators relevant to their respective areas of responsibility. 2. Senior Executive Management Incentive Plan — C-Suite— - Designed exclusively for the top-level executives, such as the CEO, CFO, CTO, etc., with an emphasis on overall company performance and strategic leadership. Conclusion: The Arizona Senior Executive Management Incentive Plan (ASE MIP) at The Leon Co. is a comprehensive incentivization program that aims to drive superior performance and align the goals of senior executives with the company's objectives. The described attachments provide further insights into the plan's structure, performance metrics, reward structures, and administration guidelines. By implementing the ASE MIP, The Leon Co. demonstrates its commitment to attracting, motivating, and retaining top senior talent to ensure the sustained growth and success of the organization.