New Mexico 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: New Mexico Senior Executive Management Incentive Plan for The Leon Co. Description: The New Mexico Senior Executive Management Incentive Plan (SEMI Plan) is a comprehensive rewards program designed to motivate and incentivize senior executives at The Leon Co. Based in the enchanting state of New Mexico, The Leon Co. is a leading global manufacturing organization renowned for its excellence in producing cutting-edge industrial materials and solutions. Under this program, senior executives at The Leon Co. are granted various monetary and non-monetary benefits, allowing them to align their professional goals with the company's overarching objectives. The SEMI Plan is specifically tailored to acknowledge the critical role these top-level executives play in driving the growth and success of the organization. Keywords: New Mexico Senior Executive Management Incentive Plan, The Leon Co., rewards program, senior executives, motivation, incentivize, industrial materials, solutions. Attachments: 1. SEMI Plan Framework: This attachment provides a detailed outline of the New Mexico Senior Executive Management Incentive Plan. It includes the eligibility criteria, performance metrics, and predetermined goals that executives must achieve to qualify for rewards. The attachment also contains a breakdown of the bonus structure based on different performance levels. 2. Performance Measures: This attachment outlines the specific performance measures used to evaluate the success of senior executives. It includes key performance indicators (KPIs), benchmarks, and measurement methodologies that guide the assessment process. The attachment also clarifies the weightage assigned to each performance measure, emphasizing transparency and fairness. 3. Reward Levels: This attachment provides a comprehensive overview of different reward levels within the SEMI Plan. It details the monetary benefits linked to achieving various performance targets. Additionally, non-monetary rewards such as stock options, health benefits, and career development opportunities are also highlighted, demonstrating The Leon Co.'s commitment to holistic growth and employee satisfaction. 4. Compliance and Governance: This attachment focuses on the compliance and governance aspects of the New Mexico Senior Executive Management Incentive Plan. It includes information on the legal and regulatory frameworks governing the program, ensuring that it aligns with local and federal laws. Furthermore, it outlines the governance structure responsible for administering and monitoring the SEMI Plan, ensuring accountability and transparency. Different Types of SEMI Plans: 1. The Leon Co.'s Performance-Based SEMI Plan: This type of SEMI Plan focuses on objective performance measures and targets based on the company's financial goals, operational efficiency, market share growth, and customer satisfaction. The rewards are directly correlated with the executives' contributions to achieving these metrics. 2. The Leon Co.'s Long-Term Incentive SEMI Plan: This type of SEMI Plan is designed to provide additional incentives to senior executives for accomplishing long-term strategic objectives. It incorporates performance cycle evaluation based on financial performance, stock performance, strategic initiatives, and sustainable growth. The rewards may include a combination of stock options, restricted stock units, and deferred cash payments to incentivize sustained success over an extended period. By implementing the New Mexico Senior Executive Management Incentive Plan, The Leon Co. aims to attract, motivate, and retain top talent while fostering a culture of excellence and accountability among its senior executives.

Title: New Mexico Senior Executive Management Incentive Plan for The Leon Co. Description: The New Mexico Senior Executive Management Incentive Plan (SEMI Plan) is a comprehensive rewards program designed to motivate and incentivize senior executives at The Leon Co. Based in the enchanting state of New Mexico, The Leon Co. is a leading global manufacturing organization renowned for its excellence in producing cutting-edge industrial materials and solutions. Under this program, senior executives at The Leon Co. are granted various monetary and non-monetary benefits, allowing them to align their professional goals with the company's overarching objectives. The SEMI Plan is specifically tailored to acknowledge the critical role these top-level executives play in driving the growth and success of the organization. Keywords: New Mexico Senior Executive Management Incentive Plan, The Leon Co., rewards program, senior executives, motivation, incentivize, industrial materials, solutions. Attachments: 1. SEMI Plan Framework: This attachment provides a detailed outline of the New Mexico Senior Executive Management Incentive Plan. It includes the eligibility criteria, performance metrics, and predetermined goals that executives must achieve to qualify for rewards. The attachment also contains a breakdown of the bonus structure based on different performance levels. 2. Performance Measures: This attachment outlines the specific performance measures used to evaluate the success of senior executives. It includes key performance indicators (KPIs), benchmarks, and measurement methodologies that guide the assessment process. The attachment also clarifies the weightage assigned to each performance measure, emphasizing transparency and fairness. 3. Reward Levels: This attachment provides a comprehensive overview of different reward levels within the SEMI Plan. It details the monetary benefits linked to achieving various performance targets. Additionally, non-monetary rewards such as stock options, health benefits, and career development opportunities are also highlighted, demonstrating The Leon Co.'s commitment to holistic growth and employee satisfaction. 4. Compliance and Governance: This attachment focuses on the compliance and governance aspects of the New Mexico Senior Executive Management Incentive Plan. It includes information on the legal and regulatory frameworks governing the program, ensuring that it aligns with local and federal laws. Furthermore, it outlines the governance structure responsible for administering and monitoring the SEMI Plan, ensuring accountability and transparency. Different Types of SEMI Plans: 1. The Leon Co.'s Performance-Based SEMI Plan: This type of SEMI Plan focuses on objective performance measures and targets based on the company's financial goals, operational efficiency, market share growth, and customer satisfaction. The rewards are directly correlated with the executives' contributions to achieving these metrics. 2. The Leon Co.'s Long-Term Incentive SEMI Plan: This type of SEMI Plan is designed to provide additional incentives to senior executives for accomplishing long-term strategic objectives. It incorporates performance cycle evaluation based on financial performance, stock performance, strategic initiatives, and sustainable growth. The rewards may include a combination of stock options, restricted stock units, and deferred cash payments to incentivize sustained success over an extended period. By implementing the New Mexico Senior Executive Management Incentive Plan, The Leon Co. aims to attract, motivate, and retain top talent while fostering a culture of excellence and accountability among its senior executives.