Indiana 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: Indiana Senior Executive Management Incentive Plan at The Leon Co. Introduction: The Indiana Senior Executive Management Incentive Plan is a comprehensive compensation program designed to attract, retain, and motivate talented senior-level executives at The Leon Co. This detailed description provides an overview of the plan's objectives, eligibility, performance measurements, payout structure, and attachments. Keywords: Indiana Senior Executive Management Incentive Plan, The Leon Co., compensation program, senior-level executives, objectives, eligibility, performance measurements, payout structure, attachments. I. Objectives of the Indiana Senior Executive Management Incentive Plan: The primary objectives of the Indiana Senior Executive Management Incentive Plan at The Leon Co. are to align senior executive compensation with corporate performance, encourage the achievement of strategic objectives, and drive sustainable growth. This plan strives to motivate and retain a high-performing executive team, encouraging long-term success for the organization. II. Eligibility: Eligibility for participation in the Indiana Senior Executive Management Incentive Plan is based on the seniority, position, and overall responsibilities of executives within The Leon Co. The plan primarily targets C-suite and other senior executives, typically holding positions of Vice Presidents or higher. Eligible executives need to meet specific criteria, such as minimum tenure and performance expectations. III. Performance Measurements: The Leon Co. determines the success of the plan based on both company-wide and individual performance measurements. These measurements may include key financial metrics, such as revenue growth, profitability, cash flow, and shareholder returns. Additionally, non-financial objectives, such as market share, innovation, operational excellence, and customer satisfaction, may be considered to create a balanced assessment of executive performance. IV. Payout Structure: The payout structure of the Indiana Senior Executive Management Incentive Plan varies based on the achieved performance targets. Executives will be entitled to receive a combination of cash bonuses, stock-based incentives, and long-term performance awards upon fulfilling predetermined goals and targets. The specific payout structure will be clearly defined in the plan documentation. V. Attachments: 1. Indiana Senior Executive Management Incentive Plan Document: A comprehensive document that outlines in detail the plan's provisions, eligibility criteria, performance measurements, and payout structure. This document serves as a legal agreement between The Leon Co. and participating executives, highlighting terms and conditions. 2. Performance Goals and Targets: A document specifying the performance goals and targets set for each eligible executive. It outlines the specific metrics against which the executive's performance will be evaluated to determine the incentive payout. These targets are usually aligned with corporate objectives and may have both qualitative and quantitative aspects. 3. Historical Performance Data: Historical financial and non-financial performance data that provides context for setting realistic performance goals and ensures transparency in evaluating executive performance against established benchmarks. 4. Executive Benefits Overview: A summary of the additional benefits, such as retirement plans, health and insurance coverage, stock options, and other perquisites, made available to senior executives as part of their comprehensive compensation package. Conclusion: The Indiana Senior Executive Management Incentive Plan at The Leon Co. is a carefully designed compensation program that aims to attract, motivate, and retain high-performing senior-level executives. By aligning executive compensation with company-wide and individual performance metrics, the plan establishes a clear link between executive actions and the achievement of strategic objectives. Through the specified attachments, eligible executives and relevant stakeholders gain a comprehensive understanding of the plan's provisions, performance expectations, and associated benefits.

Title: Indiana Senior Executive Management Incentive Plan at The Leon Co. Introduction: The Indiana Senior Executive Management Incentive Plan is a comprehensive compensation program designed to attract, retain, and motivate talented senior-level executives at The Leon Co. This detailed description provides an overview of the plan's objectives, eligibility, performance measurements, payout structure, and attachments. Keywords: Indiana Senior Executive Management Incentive Plan, The Leon Co., compensation program, senior-level executives, objectives, eligibility, performance measurements, payout structure, attachments. I. Objectives of the Indiana Senior Executive Management Incentive Plan: The primary objectives of the Indiana Senior Executive Management Incentive Plan at The Leon Co. are to align senior executive compensation with corporate performance, encourage the achievement of strategic objectives, and drive sustainable growth. This plan strives to motivate and retain a high-performing executive team, encouraging long-term success for the organization. II. Eligibility: Eligibility for participation in the Indiana Senior Executive Management Incentive Plan is based on the seniority, position, and overall responsibilities of executives within The Leon Co. The plan primarily targets C-suite and other senior executives, typically holding positions of Vice Presidents or higher. Eligible executives need to meet specific criteria, such as minimum tenure and performance expectations. III. Performance Measurements: The Leon Co. determines the success of the plan based on both company-wide and individual performance measurements. These measurements may include key financial metrics, such as revenue growth, profitability, cash flow, and shareholder returns. Additionally, non-financial objectives, such as market share, innovation, operational excellence, and customer satisfaction, may be considered to create a balanced assessment of executive performance. IV. Payout Structure: The payout structure of the Indiana Senior Executive Management Incentive Plan varies based on the achieved performance targets. Executives will be entitled to receive a combination of cash bonuses, stock-based incentives, and long-term performance awards upon fulfilling predetermined goals and targets. The specific payout structure will be clearly defined in the plan documentation. V. Attachments: 1. Indiana Senior Executive Management Incentive Plan Document: A comprehensive document that outlines in detail the plan's provisions, eligibility criteria, performance measurements, and payout structure. This document serves as a legal agreement between The Leon Co. and participating executives, highlighting terms and conditions. 2. Performance Goals and Targets: A document specifying the performance goals and targets set for each eligible executive. It outlines the specific metrics against which the executive's performance will be evaluated to determine the incentive payout. These targets are usually aligned with corporate objectives and may have both qualitative and quantitative aspects. 3. Historical Performance Data: Historical financial and non-financial performance data that provides context for setting realistic performance goals and ensures transparency in evaluating executive performance against established benchmarks. 4. Executive Benefits Overview: A summary of the additional benefits, such as retirement plans, health and insurance coverage, stock options, and other perquisites, made available to senior executives as part of their comprehensive compensation package. Conclusion: The Indiana Senior Executive Management Incentive Plan at The Leon Co. is a carefully designed compensation program that aims to attract, motivate, and retain high-performing senior-level executives. By aligning executive compensation with company-wide and individual performance metrics, the plan establishes a clear link between executive actions and the achievement of strategic objectives. Through the specified attachments, eligible executives and relevant stakeholders gain a comprehensive understanding of the plan's provisions, performance expectations, and associated benefits.