Puerto Rico 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 The Puerto Rico Senior Executive Management Incentive Plan (SEMI) is a strategic compensation program designed specifically for senior executives in The Leon Co., a multinational corporation. This plan aims to attract, motivate, and retain high-performing executives by offering competitive incentives and rewards. SEMI has several types, namely: 1. Performance-Based Cash Bonus: This attachment outlines the criteria for earning eligible executives a performance-based cash bonus. It specifies the financial metrics and performance goals to be achieved, aligning them with the company's objectives. Examples of keywords for this attachment can include performance criteria, financial metrics, goals, and eligibility. 2. Stock Option Grants: This attachment describes the stock option grants available to senior executives as part of SEMI. It outlines the terms and conditions associated with the stock options, including vesting periods, exercise prices, and expiration dates. Keywords for this attachment may include stock options, grants, vesting, exercise prices, and expiration. 3. Long-Term Incentive Plan: This attachment provides an overview of the long-term incentive plan within SEMI. It details the components such as restricted stock units (RSS), performance shares, or phantom shares that are offered to senior executives. The attachment mentions the performance criteria and time horizons for evaluating executives' performance. Relevant keywords for this attachment could be restricted stock units, RSS, performance shares, phantom shares, performance criteria, and time horizons. 4. Deferred Compensation: This attachment discusses the deferred compensation options available to senior executives participating in SEMI. It outlines the rules and regulations regarding deferring a portion of their compensation, tax implications, and distribution periods. Keywords for this attachment may include deferred compensation, rules, regulations, tax implications, and distribution periods. 5. Clawback Provision: This attachment explains the clawback provision within SEMI, which allows The Leon Co. to recover incentive payments from executives under certain circumstances. It outlines the triggers and conditions that would warrant invoking the clawback provision. Keywords for this attachment could include clawback provision, incentive recovery, triggers, and conditions. Overall, the Puerto Rico Senior Executive Management Incentive Plan provides The Leon Co. with a comprehensive framework for rewarding and incentivizing its senior executives. By offering a mix of cash bonuses, stock options, long-term incentives, deferred compensation, and clawback provisions, the plan ensures alignment with company goals and maximized executive performance.

The Puerto Rico Senior Executive Management Incentive Plan (SEMI) is a strategic compensation program designed specifically for senior executives in The Leon Co., a multinational corporation. This plan aims to attract, motivate, and retain high-performing executives by offering competitive incentives and rewards. SEMI has several types, namely: 1. Performance-Based Cash Bonus: This attachment outlines the criteria for earning eligible executives a performance-based cash bonus. It specifies the financial metrics and performance goals to be achieved, aligning them with the company's objectives. Examples of keywords for this attachment can include performance criteria, financial metrics, goals, and eligibility. 2. Stock Option Grants: This attachment describes the stock option grants available to senior executives as part of SEMI. It outlines the terms and conditions associated with the stock options, including vesting periods, exercise prices, and expiration dates. Keywords for this attachment may include stock options, grants, vesting, exercise prices, and expiration. 3. Long-Term Incentive Plan: This attachment provides an overview of the long-term incentive plan within SEMI. It details the components such as restricted stock units (RSS), performance shares, or phantom shares that are offered to senior executives. The attachment mentions the performance criteria and time horizons for evaluating executives' performance. Relevant keywords for this attachment could be restricted stock units, RSS, performance shares, phantom shares, performance criteria, and time horizons. 4. Deferred Compensation: This attachment discusses the deferred compensation options available to senior executives participating in SEMI. It outlines the rules and regulations regarding deferring a portion of their compensation, tax implications, and distribution periods. Keywords for this attachment may include deferred compensation, rules, regulations, tax implications, and distribution periods. 5. Clawback Provision: This attachment explains the clawback provision within SEMI, which allows The Leon Co. to recover incentive payments from executives under certain circumstances. It outlines the triggers and conditions that would warrant invoking the clawback provision. Keywords for this attachment could include clawback provision, incentive recovery, triggers, and conditions. Overall, the Puerto Rico Senior Executive Management Incentive Plan provides The Leon Co. with a comprehensive framework for rewarding and incentivizing its senior executives. By offering a mix of cash bonuses, stock options, long-term incentives, deferred compensation, and clawback provisions, the plan ensures alignment with company goals and maximized executive performance.