New York 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 New York Senior Executive Management Incentive Plan for The Leon Co. Keywords: New York, senior executive, management incentive plan, attachments, The Leon Co. Introduction: The New York Senior Executive Management Incentive Plan at The Leon Co. is a comprehensive program designed to reward and motivate our senior executives for their exceptional performance and contributions to the company's success. This detailed description provides insights into the plan's structure, eligibility criteria, performance metrics, and potential rewards. Attached are supplementary documents that outline specific terms and conditions, sample performance objectives, and guidelines for assessing performance. Types of New York Senior Executive Management Incentive Plans: 1. Annual Performance-Based Plan: This plan involves establishing annual targets aligning with The Leon Co.'s strategic goals and objectives. Senior executives are then incentivized to achieve or exceed these targets through performance-based bonuses and rewards. The attachment illustrates a sample framework of performance objectives and corresponding rewards for clarity. 2. Long-Term Incentive Plan: Designed to foster long-term commitment, this plan offers senior executives opportunities for equity participation, stock options, or deferred compensation programs. The attachment outlines the terms, vesting schedules, and eligibility criteria associated with long-term incentives, ensuring that the objectives align with the company's long-term performance and shareholder value creation. 3. Special Project Incentive Plan: To encourage senior executives to undertake and successfully complete critical projects, this plan provides exclusive incentives. These projects may include strategic initiatives, mergers and acquisitions, restructuring, or any other significant undertakings. The attachments provide details regarding the specific terms and conditions for such projects, along with a roadmap for assessing performance and determining rewards. Eligibility: The New York Senior Executive Management Incentive Plan is available exclusively for senior executives designated by The Leon Co. This typically includes C-suite executives, senior vice presidents, and other leaders responsible for decision-making, strategy implementation, and overall performance. Eligibility criteria may vary based on each plan's objectives and level of responsibility, as specified in the attachments. Performance Metrics: The performance metrics for the New York Senior Executive Management Incentive Plan are thoughtfully chosen to align with The Leon Co.'s strategic goals, financial performance, market position, and sustainable growth objectives. Potential metrics may include revenue growth, profitability, market share, customer satisfaction, innovation, operational excellence, talent development, and diversity initiatives. The attachments provide detailed information on performance measurement methodologies and weighting assigned to each metric. Attachments: 1. Terms and Conditions: This attachment outlines the general terms and conditions applicable to all plans, including eligibility, vesting schedules, clawback provisions, and other contractual details. 2. Sample Performance Objectives: The document presents examples of performance objectives for both the Annual Performance-Based Plan and the Special Project Incentive Plan. These objectives highlight various scenarios and metrics relevant to The Leon Co.'s industry and strategic priorities. 3. Performance Assessment Guidelines: This attachment provides guidelines for assessing and reviewing performance based on predetermined metrics, ensuring consistent and fair evaluation processes across all eligible senior executives. In conclusion, The Leon Co.'s New York Senior Executive Management Incentive Plan is a comprehensive and highly motivating framework designed to align senior executives' performance and objectives with the company's strategic goals. The attached documents offer further clarity, serving as valuable references for plan participants and organizational transparency.

New York Senior Executive Management Incentive Plan for The Leon Co. Keywords: New York, senior executive, management incentive plan, attachments, The Leon Co. Introduction: The New York Senior Executive Management Incentive Plan at The Leon Co. is a comprehensive program designed to reward and motivate our senior executives for their exceptional performance and contributions to the company's success. This detailed description provides insights into the plan's structure, eligibility criteria, performance metrics, and potential rewards. Attached are supplementary documents that outline specific terms and conditions, sample performance objectives, and guidelines for assessing performance. Types of New York Senior Executive Management Incentive Plans: 1. Annual Performance-Based Plan: This plan involves establishing annual targets aligning with The Leon Co.'s strategic goals and objectives. Senior executives are then incentivized to achieve or exceed these targets through performance-based bonuses and rewards. The attachment illustrates a sample framework of performance objectives and corresponding rewards for clarity. 2. Long-Term Incentive Plan: Designed to foster long-term commitment, this plan offers senior executives opportunities for equity participation, stock options, or deferred compensation programs. The attachment outlines the terms, vesting schedules, and eligibility criteria associated with long-term incentives, ensuring that the objectives align with the company's long-term performance and shareholder value creation. 3. Special Project Incentive Plan: To encourage senior executives to undertake and successfully complete critical projects, this plan provides exclusive incentives. These projects may include strategic initiatives, mergers and acquisitions, restructuring, or any other significant undertakings. The attachments provide details regarding the specific terms and conditions for such projects, along with a roadmap for assessing performance and determining rewards. Eligibility: The New York Senior Executive Management Incentive Plan is available exclusively for senior executives designated by The Leon Co. This typically includes C-suite executives, senior vice presidents, and other leaders responsible for decision-making, strategy implementation, and overall performance. Eligibility criteria may vary based on each plan's objectives and level of responsibility, as specified in the attachments. Performance Metrics: The performance metrics for the New York Senior Executive Management Incentive Plan are thoughtfully chosen to align with The Leon Co.'s strategic goals, financial performance, market position, and sustainable growth objectives. Potential metrics may include revenue growth, profitability, market share, customer satisfaction, innovation, operational excellence, talent development, and diversity initiatives. The attachments provide detailed information on performance measurement methodologies and weighting assigned to each metric. Attachments: 1. Terms and Conditions: This attachment outlines the general terms and conditions applicable to all plans, including eligibility, vesting schedules, clawback provisions, and other contractual details. 2. Sample Performance Objectives: The document presents examples of performance objectives for both the Annual Performance-Based Plan and the Special Project Incentive Plan. These objectives highlight various scenarios and metrics relevant to The Leon Co.'s industry and strategic priorities. 3. Performance Assessment Guidelines: This attachment provides guidelines for assessing and reviewing performance based on predetermined metrics, ensuring consistent and fair evaluation processes across all eligible senior executives. In conclusion, The Leon Co.'s New York Senior Executive Management Incentive Plan is a comprehensive and highly motivating framework designed to align senior executives' performance and objectives with the company's strategic goals. The attached documents offer further clarity, serving as valuable references for plan participants and organizational transparency.