Hawaii 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: Hawaii Senior Executive Management Incentive Plan Lennonon Co. Introduction: The Hawaii Senior Executive Management Incentive Plan is a comprehensive performance-based compensation program designed to attract, motivate, and retain talented senior executives within The Leon Co., a prominent organization operating in Hawaii. This detailed description aims to provide an overview of the plan, its benefits, objectives, eligibility criteria, key components, and attachments that accompany it. Keywords: Hawaii, Senior Executive Management Incentive Plan, The Leon Co., performance-based compensation, talent retention, eligibility criteria, benefits, objectives, key components, attachments. I. Objectives: The primary objectives of the Hawaii Senior Executive Management Incentive Plan are to align the strategic goals of The Leon Co. with individual and team performance, promote executive talent retention, drive superior business performance, and enhance shareholder value. II. Eligibility Criteria: 1. The plan is exclusive to senior executives within The Leon Co. who possess a significant role in managing key business functions. 2. Eligible executives must meet specific performance criteria and demonstrate exceptional leadership abilities. III. Benefits of the Plan: 1. Competitive Compensation: The plan offers a highly competitive compensation package comprising a mix of base salary, short-term incentives, and long-term incentives. 2. Performance-Driven Rewards: Executives are encouraged to excel through rewarding performance-based bonuses, which are directly linked to individual, team, and company-wide achievements. 3. Enhanced Talent Retention: The plan enhances employee loyalty and retention by recognizing and rewarding the contribution of senior executives, thus reducing attrition rates. 4. Long-Term Financial Security: The plan also includes opportunities for long-term financial security through stock options, equity grants, or other similar instruments. IV. Key Components: 1. Performance Goals: Well-defined metrics are established annually, aligning individual and team objectives with the overall organizational goals, including financial targets, growth initiatives, operational efficiencies, and strategic objectives. 2. Performance Measures: The plan incorporates specific performance indicators that enable performance evaluation, such as revenue growth, profitability, market share, customer satisfaction, and innovation indices. 3. Reward Structure: The plan features a performance-based reward structure, incorporating predefined target ranges, and performance thresholds to incentivize executives to surpass expectations while ensuring alignment with organizational goals. 4. Equity-Based Compensation: A proportion of the plan may consist of equity-based compensation, including stock options, restricted stock units, or other equity grants, aimed at fostering a long-term commitment to the company's success. Attachments: 1. Hawaii Senior Executive Management Incentive Plan Document: Provides detailed information on plan structure, eligibility, performance criteria, reward calculation methodology, payment schedule, and conditions for participation. 2. Performance Metrics & Targets: Clearly outlines the key metrics, targets, and weightage assigned to various performance indicators, guiding executives towards tangible outcomes. 3. Sample Performance Scorecard: Illustrates a hypothetical scorecard showcasing how executives' performance will be evaluated against established metrics, demonstrating transparency and fairness. Types of Hawaii Senior Executive Management Incentive Plans for The Leon Co.: 1. Standard Performance-Based Incentive Plan: This is the primary plan discussed in this description, focusing on performance rewards linked to predefined metrics and targets. 2. Restricted Stock Unit (RSU) Incentive Plan: A supplementary plan that emphasizes equity-based compensation in the form of RSS granted to senior executives, aligning their interests with long-term shareholder value. By implementing the Hawaii Senior Executive Management Incentive Plans, The Leon Co. aims to foster a high-performance culture, reward exceptional leadership, and drive sustainable growth while maintaining its competitive advantage in the Hawaiian market.

Title: Hawaii Senior Executive Management Incentive Plan Lennonon Co. Introduction: The Hawaii Senior Executive Management Incentive Plan is a comprehensive performance-based compensation program designed to attract, motivate, and retain talented senior executives within The Leon Co., a prominent organization operating in Hawaii. This detailed description aims to provide an overview of the plan, its benefits, objectives, eligibility criteria, key components, and attachments that accompany it. Keywords: Hawaii, Senior Executive Management Incentive Plan, The Leon Co., performance-based compensation, talent retention, eligibility criteria, benefits, objectives, key components, attachments. I. Objectives: The primary objectives of the Hawaii Senior Executive Management Incentive Plan are to align the strategic goals of The Leon Co. with individual and team performance, promote executive talent retention, drive superior business performance, and enhance shareholder value. II. Eligibility Criteria: 1. The plan is exclusive to senior executives within The Leon Co. who possess a significant role in managing key business functions. 2. Eligible executives must meet specific performance criteria and demonstrate exceptional leadership abilities. III. Benefits of the Plan: 1. Competitive Compensation: The plan offers a highly competitive compensation package comprising a mix of base salary, short-term incentives, and long-term incentives. 2. Performance-Driven Rewards: Executives are encouraged to excel through rewarding performance-based bonuses, which are directly linked to individual, team, and company-wide achievements. 3. Enhanced Talent Retention: The plan enhances employee loyalty and retention by recognizing and rewarding the contribution of senior executives, thus reducing attrition rates. 4. Long-Term Financial Security: The plan also includes opportunities for long-term financial security through stock options, equity grants, or other similar instruments. IV. Key Components: 1. Performance Goals: Well-defined metrics are established annually, aligning individual and team objectives with the overall organizational goals, including financial targets, growth initiatives, operational efficiencies, and strategic objectives. 2. Performance Measures: The plan incorporates specific performance indicators that enable performance evaluation, such as revenue growth, profitability, market share, customer satisfaction, and innovation indices. 3. Reward Structure: The plan features a performance-based reward structure, incorporating predefined target ranges, and performance thresholds to incentivize executives to surpass expectations while ensuring alignment with organizational goals. 4. Equity-Based Compensation: A proportion of the plan may consist of equity-based compensation, including stock options, restricted stock units, or other equity grants, aimed at fostering a long-term commitment to the company's success. Attachments: 1. Hawaii Senior Executive Management Incentive Plan Document: Provides detailed information on plan structure, eligibility, performance criteria, reward calculation methodology, payment schedule, and conditions for participation. 2. Performance Metrics & Targets: Clearly outlines the key metrics, targets, and weightage assigned to various performance indicators, guiding executives towards tangible outcomes. 3. Sample Performance Scorecard: Illustrates a hypothetical scorecard showcasing how executives' performance will be evaluated against established metrics, demonstrating transparency and fairness. Types of Hawaii Senior Executive Management Incentive Plans for The Leon Co.: 1. Standard Performance-Based Incentive Plan: This is the primary plan discussed in this description, focusing on performance rewards linked to predefined metrics and targets. 2. Restricted Stock Unit (RSU) Incentive Plan: A supplementary plan that emphasizes equity-based compensation in the form of RSS granted to senior executives, aligning their interests with long-term shareholder value. By implementing the Hawaii Senior Executive Management Incentive Plans, The Leon Co. aims to foster a high-performance culture, reward exceptional leadership, and drive sustainable growth while maintaining its competitive advantage in the Hawaiian market.