Oregon 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: Oregon Senior Executive Management Incentive Plan at The Leon Co. Keywords: Oregon, Senior Executive, Management Incentive Plan, The Leon Co., attachments, types I. Introduction: The Oregon Senior Executive Management Incentive Plan at The Leon Co. is a comprehensive rewards program designed to motivate and incentivize senior executives in achieving corporate goals and driving exceptional performance. This plan offers various types of incentives through a range of well-structured attachments, providing executives with the opportunity to earn additional compensation based on individual and company-wide achievements. II. Key Objectives and Benefits: 1. Compensation Alignment: The Oregon Senior Executive Management Incentive Plan ensures that executive compensation is closely aligned with long-term company objectives, fostering a results-driven culture and encouraging executives to actively contribute to The Leon Co.'s growth and success. 2. Retaining Top Talent: This program recognizes and rewards senior leaders for their valuable contributions, aiming to retain high-caliber executives who play a pivotal role in shaping the company's future. By offering attractive incentives, The Leon Co. effectively retains and motivates its senior talent, reducing the chances of attrition and maintaining stability at the executive level. 3. Performance Enhancement: The plan promotes enhanced performance by setting challenging targets and offering rewards commensurate with achieved results. Senior executives are motivated to reach exceptional levels of performance and exceed expectations, fostering innovation, and driving continuous improvement within the organization. 4. Accountability and Transparency: The Oregon Senior Executive Management Incentive Plan ensures accountability and transparency by establishing clear performance metrics, including both financial and non-financial objectives. The plan's attachments outline the precise criteria which executives must meet to qualify for incentives, leaving no room for ambiguity or subjectivity. III. Attachment Types: 1. Financial Performance: This attachment focuses on financial metrics such as revenue growth, profit margins, earnings per share (EPS), market share, and return on investment (ROI). Executives must align their strategic decisions with financial goals to unlock financial performance-related incentives. 2. Key Performance Indicators (KPIs): This attachment establishes specific KPIs related to operational efficiency, customer satisfaction, quality improvement, or environmental sustainability. Executives must achieve or surpass predetermined KPIs to receive incentives, emphasizing the importance of holistic business performance. 3. Long-Term Objectives: This attachment concentrates on long-term objectives of The Leon Co., including market expansion, product innovation, or international growth. It rewards executives who contribute significantly to the company's long-term success, encouraging visionary leadership and strategic decision-making. 4. Individual Performance: This attachment measures an executive's personal contributions to the company's success, considering factors such as leadership, team management, talent development, and overall impact on the organizational culture. Executives who demonstrate exceptional leadership capabilities and foster a positive work environment can earn additional incentives. IV. Conclusion: The Oregon Senior Executive Management Incentive Plan with its various attachments at The Leon Co. is a robust and comprehensive program that aims to motivate, retain, and reward senior executives. By aligning compensation with organizational objectives, recognizing outstanding performance, and emphasizing accountability, this plan plays a vital role in driving the company's growth and success in both the short and long terms.

Title: Oregon Senior Executive Management Incentive Plan at The Leon Co. Keywords: Oregon, Senior Executive, Management Incentive Plan, The Leon Co., attachments, types I. Introduction: The Oregon Senior Executive Management Incentive Plan at The Leon Co. is a comprehensive rewards program designed to motivate and incentivize senior executives in achieving corporate goals and driving exceptional performance. This plan offers various types of incentives through a range of well-structured attachments, providing executives with the opportunity to earn additional compensation based on individual and company-wide achievements. II. Key Objectives and Benefits: 1. Compensation Alignment: The Oregon Senior Executive Management Incentive Plan ensures that executive compensation is closely aligned with long-term company objectives, fostering a results-driven culture and encouraging executives to actively contribute to The Leon Co.'s growth and success. 2. Retaining Top Talent: This program recognizes and rewards senior leaders for their valuable contributions, aiming to retain high-caliber executives who play a pivotal role in shaping the company's future. By offering attractive incentives, The Leon Co. effectively retains and motivates its senior talent, reducing the chances of attrition and maintaining stability at the executive level. 3. Performance Enhancement: The plan promotes enhanced performance by setting challenging targets and offering rewards commensurate with achieved results. Senior executives are motivated to reach exceptional levels of performance and exceed expectations, fostering innovation, and driving continuous improvement within the organization. 4. Accountability and Transparency: The Oregon Senior Executive Management Incentive Plan ensures accountability and transparency by establishing clear performance metrics, including both financial and non-financial objectives. The plan's attachments outline the precise criteria which executives must meet to qualify for incentives, leaving no room for ambiguity or subjectivity. III. Attachment Types: 1. Financial Performance: This attachment focuses on financial metrics such as revenue growth, profit margins, earnings per share (EPS), market share, and return on investment (ROI). Executives must align their strategic decisions with financial goals to unlock financial performance-related incentives. 2. Key Performance Indicators (KPIs): This attachment establishes specific KPIs related to operational efficiency, customer satisfaction, quality improvement, or environmental sustainability. Executives must achieve or surpass predetermined KPIs to receive incentives, emphasizing the importance of holistic business performance. 3. Long-Term Objectives: This attachment concentrates on long-term objectives of The Leon Co., including market expansion, product innovation, or international growth. It rewards executives who contribute significantly to the company's long-term success, encouraging visionary leadership and strategic decision-making. 4. Individual Performance: This attachment measures an executive's personal contributions to the company's success, considering factors such as leadership, team management, talent development, and overall impact on the organizational culture. Executives who demonstrate exceptional leadership capabilities and foster a positive work environment can earn additional incentives. IV. Conclusion: The Oregon Senior Executive Management Incentive Plan with its various attachments at The Leon Co. is a robust and comprehensive program that aims to motivate, retain, and reward senior executives. By aligning compensation with organizational objectives, recognizing outstanding performance, and emphasizing accountability, this plan plays a vital role in driving the company's growth and success in both the short and long terms.