Tennessee 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: Tennessee Senior Executive Management Incentive Plans at The Leon Co. Description: The Leon Co. is pleased to present its comprehensive Tennessee Senior Executive Management Incentive Plans (SEMI Plans) designed to motivate and reward senior executives for their exceptional performance and contribution to the company's growth and success. With a focus on driving enhanced productivity, profitability, and sustainable long-term value creation, these customized SEMI Plans offer a range of attractive incentives to inspire top-tier executives. Keywords: Tennessee, Senior Executive Management Incentive Plan, The Leon Co., attachments 1. Structure and Objectives: The Tennessee SEMI Plans at The Leon Co. prioritize aligning executive objectives with overall corporate goals. These plans are meticulously designed to foster executive accountability and encourage long-term strategic decision-making. The objectives encompass increasing shareholder value, enhancing competitiveness, and achieving sustainable growth while promoting ethical practices and governance among senior executives. 2. Performance Measures: To ensure a fair evaluation and reward system, various performance measures are employed in the Tennessee SEMI Plans. These measures may include financial metrics like revenue growth, profitability, return on investment, and cash flow improvement. Non-financial performance indicators such as customer satisfaction, market share growth, innovation, and employee engagement may also be considered to holistically assess executive performance. 3. Bonus Structure: The Leon Co. offers executive bonuses as a critical component of the Tennessee SEMI Plans. Executives have the potential to earn significant bonus payments based on their performance against predetermined targets. These targets could be individual, divisional, or company-wide, serving as effective motivators to drive exceptional leadership and strategic execution. 4. Long-Term Incentives: In addition to immediate short-term bonuses, The Leon Co. recognizes the importance of fostering long-term value creation. To achieve this, the Tennessee SEMI Plans may consist of long-term incentives, such as stock options, restricted stock units, and performance shares. These incentives directly link executive compensation with the company's long-term performance, thereby promoting sustainable growth and shareholder wealth creation. 5. Deferral Options and Equity-Based Awards: To further align executive interests with long-term success, The Leon Co. may provide deferral options, allowing executives to defer a portion of their annual bonus into a performance-based investment vehicle. Equity-based awards like stock grants or stock options may also be offered, encouraging executives to actively contribute to the company's performance to enjoy future financial benefits. Attachments: 1. Tennessee Senior Executive Management Incentive Plan Overview: This attachment offers a concise summary of the overall structure, objectives, and essential elements of the Tennessee SEMI Plans at The Leon Co. It provides senior executives with an overview of the performance measures, bonus structure, long-term incentives, and deferral options available to them. 2. Performance Metrics and Target Setting Guidelines: This attachment delves deeper into the specific performance metrics utilized in the Tennessee SEMI Plans. It outlines techniques for setting ambitious yet achievable targets, ensuring transparency and fairness in the evaluation process. 3. Deferred Compensation and Equity-Based Awards: This attachment offers detailed information on the deferral options available to executives and their associated benefits. It also elaborates on equity-based awards, explaining how these awards align executives' long-term interests with the company's performance and highlights the related vesting and forfeiture provisions. Note: Additional attachments may be included based on specific plan structures, customization, and unique features particular to The Leon Co.'s Tennessee Senior Executive Management Incentive Plans.

Title: Tennessee Senior Executive Management Incentive Plans at The Leon Co. Description: The Leon Co. is pleased to present its comprehensive Tennessee Senior Executive Management Incentive Plans (SEMI Plans) designed to motivate and reward senior executives for their exceptional performance and contribution to the company's growth and success. With a focus on driving enhanced productivity, profitability, and sustainable long-term value creation, these customized SEMI Plans offer a range of attractive incentives to inspire top-tier executives. Keywords: Tennessee, Senior Executive Management Incentive Plan, The Leon Co., attachments 1. Structure and Objectives: The Tennessee SEMI Plans at The Leon Co. prioritize aligning executive objectives with overall corporate goals. These plans are meticulously designed to foster executive accountability and encourage long-term strategic decision-making. The objectives encompass increasing shareholder value, enhancing competitiveness, and achieving sustainable growth while promoting ethical practices and governance among senior executives. 2. Performance Measures: To ensure a fair evaluation and reward system, various performance measures are employed in the Tennessee SEMI Plans. These measures may include financial metrics like revenue growth, profitability, return on investment, and cash flow improvement. Non-financial performance indicators such as customer satisfaction, market share growth, innovation, and employee engagement may also be considered to holistically assess executive performance. 3. Bonus Structure: The Leon Co. offers executive bonuses as a critical component of the Tennessee SEMI Plans. Executives have the potential to earn significant bonus payments based on their performance against predetermined targets. These targets could be individual, divisional, or company-wide, serving as effective motivators to drive exceptional leadership and strategic execution. 4. Long-Term Incentives: In addition to immediate short-term bonuses, The Leon Co. recognizes the importance of fostering long-term value creation. To achieve this, the Tennessee SEMI Plans may consist of long-term incentives, such as stock options, restricted stock units, and performance shares. These incentives directly link executive compensation with the company's long-term performance, thereby promoting sustainable growth and shareholder wealth creation. 5. Deferral Options and Equity-Based Awards: To further align executive interests with long-term success, The Leon Co. may provide deferral options, allowing executives to defer a portion of their annual bonus into a performance-based investment vehicle. Equity-based awards like stock grants or stock options may also be offered, encouraging executives to actively contribute to the company's performance to enjoy future financial benefits. Attachments: 1. Tennessee Senior Executive Management Incentive Plan Overview: This attachment offers a concise summary of the overall structure, objectives, and essential elements of the Tennessee SEMI Plans at The Leon Co. It provides senior executives with an overview of the performance measures, bonus structure, long-term incentives, and deferral options available to them. 2. Performance Metrics and Target Setting Guidelines: This attachment delves deeper into the specific performance metrics utilized in the Tennessee SEMI Plans. It outlines techniques for setting ambitious yet achievable targets, ensuring transparency and fairness in the evaluation process. 3. Deferred Compensation and Equity-Based Awards: This attachment offers detailed information on the deferral options available to executives and their associated benefits. It also elaborates on equity-based awards, explaining how these awards align executives' long-term interests with the company's performance and highlights the related vesting and forfeiture provisions. Note: Additional attachments may be included based on specific plan structures, customization, and unique features particular to The Leon Co.'s Tennessee Senior Executive Management Incentive Plans.