Oklahoma 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: Exploring the Oklahoma Senior Executive Management Incentive Plan at The Leon Co. Keywords: Oklahoma, Senior Executive Management Incentive Plan, The Leon Co., types, attachments Introduction: In this article, we will delve into the Oklahoma Senior Executive Management Incentive Plan offered by The Leon Co. This comprehensive plan is designed to attract, retain, and motivate top-level executives by offering them attractive incentives. We will discuss the various types of this plan, along with the relevant attachments that accompany each type. Oklahoma Senior Executive Management Incentive Plan: 1. Profit-sharing Incentive Plan: The Profit-sharing Incentive Plan under the Oklahoma Senior Executive Management Incentive Plan is aligned with the financial performance of The Leon Co. Executives eligible for this plan receive a percentage of the company's profits as an incentive. The higher the profits, the larger the incentive payout. This encourages senior executives to make strategic decisions that positively impact the company's financial stability and growth. Attachments: a) Profit-sharing Calculation Methodology: This attachment describes how profits are calculated and the specific formula used to determine the incentive payout for each executive. b) Profit-sharing Performance Metrics: This attachment outlines the key performance indicators (KPIs) that contribute to the profit-sharing calculation. It defines the metrics and specifies the weightage given to each metric. 2. Performance-based Incentive Plan: The Performance-based Incentive Plan focuses on rewarding senior executives based on their individual and team performance. Executives are set specific performance targets and objectives aligned with The Leon Co.'s strategic goals. Upon achieving or exceeding these goals, they receive incentives commensurate with their accomplishment. Attachments: a) Performance Targets: This attachment lists the performance targets set for each executive, detailing the specific metrics, benchmarks, and timeframes. It provides clarity on what needs to be accomplished to receive the incentive. b) Performance Assessment Guidelines: This attachment outlines the assessment process for evaluating executives' performance against the predetermined targets. It includes guidelines for assessing individual contributions and the combined team effort. 3. Long-term Incentive Plan: The Long-term Incentive Plan rewards senior executives for their loyalty and commitment to The Leon Co. This plan encourages longevity by providing incentives that mature over an extended period. Executives typically receive stock options, restricted stock units, or other equity-based awards that offer potential long-term financial gains. Attachments: a) Equity-based Awards Agreement: This attachment describes the specific equity-based awards available under the Long-term Incentive Plan. It includes terms, vesting schedules, exercise prices, and other relevant details. b) Stock Options Exercise Guidelines: This attachment provides guidance on how executives can exercise their stock options and outlines any restrictions or limitations associated with exercising them. Conclusion: The Oklahoma Senior Executive Management Incentive Plan at The Leon Co. demonstrates the company's commitment to rewarding and motivating its senior executives. By providing a variety of incentive plans, such as profit-sharing, performance-based, and long-term incentives, The Leon Co. ensures that executives are driven to achieve outstanding results while aligning their efforts with the company's strategic goals. The attachments associated with each plan serve to provide transparency, clarity, and guidelines for successful participation in the incentive programs.

Title: Exploring the Oklahoma Senior Executive Management Incentive Plan at The Leon Co. Keywords: Oklahoma, Senior Executive Management Incentive Plan, The Leon Co., types, attachments Introduction: In this article, we will delve into the Oklahoma Senior Executive Management Incentive Plan offered by The Leon Co. This comprehensive plan is designed to attract, retain, and motivate top-level executives by offering them attractive incentives. We will discuss the various types of this plan, along with the relevant attachments that accompany each type. Oklahoma Senior Executive Management Incentive Plan: 1. Profit-sharing Incentive Plan: The Profit-sharing Incentive Plan under the Oklahoma Senior Executive Management Incentive Plan is aligned with the financial performance of The Leon Co. Executives eligible for this plan receive a percentage of the company's profits as an incentive. The higher the profits, the larger the incentive payout. This encourages senior executives to make strategic decisions that positively impact the company's financial stability and growth. Attachments: a) Profit-sharing Calculation Methodology: This attachment describes how profits are calculated and the specific formula used to determine the incentive payout for each executive. b) Profit-sharing Performance Metrics: This attachment outlines the key performance indicators (KPIs) that contribute to the profit-sharing calculation. It defines the metrics and specifies the weightage given to each metric. 2. Performance-based Incentive Plan: The Performance-based Incentive Plan focuses on rewarding senior executives based on their individual and team performance. Executives are set specific performance targets and objectives aligned with The Leon Co.'s strategic goals. Upon achieving or exceeding these goals, they receive incentives commensurate with their accomplishment. Attachments: a) Performance Targets: This attachment lists the performance targets set for each executive, detailing the specific metrics, benchmarks, and timeframes. It provides clarity on what needs to be accomplished to receive the incentive. b) Performance Assessment Guidelines: This attachment outlines the assessment process for evaluating executives' performance against the predetermined targets. It includes guidelines for assessing individual contributions and the combined team effort. 3. Long-term Incentive Plan: The Long-term Incentive Plan rewards senior executives for their loyalty and commitment to The Leon Co. This plan encourages longevity by providing incentives that mature over an extended period. Executives typically receive stock options, restricted stock units, or other equity-based awards that offer potential long-term financial gains. Attachments: a) Equity-based Awards Agreement: This attachment describes the specific equity-based awards available under the Long-term Incentive Plan. It includes terms, vesting schedules, exercise prices, and other relevant details. b) Stock Options Exercise Guidelines: This attachment provides guidance on how executives can exercise their stock options and outlines any restrictions or limitations associated with exercising them. Conclusion: The Oklahoma Senior Executive Management Incentive Plan at The Leon Co. demonstrates the company's commitment to rewarding and motivating its senior executives. By providing a variety of incentive plans, such as profit-sharing, performance-based, and long-term incentives, The Leon Co. ensures that executives are driven to achieve outstanding results while aligning their efforts with the company's strategic goals. The attachments associated with each plan serve to provide transparency, clarity, and guidelines for successful participation in the incentive programs.