20-297D 20-297D . . . Compensation Program for Officers and Certain Key Management Personnel which is administered by Chief Executive Officer with approval of Compensation Committee. Participants receive variable compensation tied directly to achievement of key corporate-wide objectives. Participants fall within either Band A, Band B, or Band C depending on nature of their positions and their impact on corporation. Opportunities for variable compensation awards vary depending upon which "Band" participant falls into. Awards can range from 12.5% to 75% of base salaries. Plan provides that awards will not be paid unless earnings, after subtracting variable compensation, are greater than dividends paid in year for which variable compensation is to be awarded. Awards are paid in cash, stock grants and restricted stock (no transferability during first five years after grant and forfeiture of stock upon termination of employment, except for retirement, death or disability, during first years after grant)
Compensation Program for Officers and Certain Key Management Personnel with attachments
State:
Multi-State
Control #:
US-CC-20-297D
Format:
Word;
Rich Text
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Description Compensation Program
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Compensation Key Template Form popularity
Compensation Certain Personnel Other Form Names
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Compensation Certain Form FAQ
Compensation includes (IAS 24.9): short-term employee benefits, such as wages, salaries and social security contributions, paid annual leave and paid sick leave, profit-sharing and bonuses and non-monetary benefits (such as medical care, housing, cars and free or subsidised goods or services);
The only required disclosure is the total amount of employee benefits received by key management personnel (including Employer's National Insurance Contributions); however, the SORP encourages charities to consider making additional disclosures, such as details of the employee benefits received by the charity's Chief
Key management personnel The SORP requires disclosure of the total amount of employee benefits received by this group for their services. Employee benefits includes gross pay, benefits paid, employer pension contributions and employer national insurance contributions.
Compensation of key management personnelEmployee benefits are all forms of consideration paid, payable or provided by the entity, or on behalf of the entity, in exchange for services rendered to the entity. It also includes such consideration paid on behalf of a parent of the entity in respect of the entity.
As a result compensation to key management personnel will include all employee benefits (the definition of which are contained in Section 28 Employee Benefits) and will include share-based payments and all forms of consideration paid, payable and provided by the entity (or on behalf of the entity) in exchange for
Key management personnel are those persons having authority and responsibility for planning, directing, and controlling the activities of the entity, directly or indirectly, including any directors (whether executive or otherwise) of the entity. IAS 24.9
Key management personnel are those people having authority and responsibility for planning, directing, and controlling the activities of an entity, either directly or indirectly. This designation typically includes the following positions: Board of directors.