Bexar Texas Senior Executive Management Incentive Plan with attachments for The Geon Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Bexar
• 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: Bexar Texas Senior Executive Management Incentive Plan at The Leon Co: A Comprehensive Overview Keywords: Bexar County, Texas, Senior Executive Management Incentive Plan, The Leon Co., attachments, types Introduction: The Bexar Texas Senior Executive Management Incentive Plan is a performance-based compensation program designed to reward senior executives at The Leon Co. Located in Bexar County, Texas, this plan is strategically crafted to align executives' objectives with the company's growth, profitability, and overall success. Alongside the plan's provisions, several attachments provide additional details and guidelines. 1. Incentive Plan Overview: The Bexar Texas Senior Executive Management Incentive Plan is an annual program aimed at motivating and retaining top-tier executives at The Leon Co. The plan incorporates various performance metrics to evaluate individual and collective contributions, ensuring that executives are incentivized based on their achievements within pre-determined timeframes. 2. Target Performance Metrics: The plan outlines a set of target performance metrics tailored to the industry, goals, and objectives of The Leon Co. These metrics encompass financial performance, individual leadership, team collaboration, customer satisfaction, innovation, and other key performance indicators (KPIs) critical to the organization's success. 3. Bonus Structure: The incentive plan offers a structured bonus system that provides an additional financial reward for surpassing predetermined targets. The bonus structure is designed to motivate and recognize exceptional performance, offering both short-term and long-term incentives to senior executives. 4. Eligibility Criteria: The Bexar Texas Senior Executive Management Incentive Plan is available to senior executives who meet specific eligibility criteria, including their positions within the organization, past performance records, and tenure. Eligibility will be assessed annually to ensure continued alignment with the plan's objectives. 5. Reporting and Feedback Mechanisms: The incentive plan includes a comprehensive reporting and feedback system that promotes transparency and accountability. Regular performance evaluations, reviews, and feedback sessions allow executives to track their progress and receive valuable input from their superiors, fostering continuous personal and professional growth. Attachments: 1. Appendix A: Incentive Plan Terms and Conditions — This attachment provides a detailed breakdown of the terms and conditions associated with the Bexar Texas Senior Executive Management Incentive Plan. It covers eligibility requirements, performance measurement methodologies, payment schedules, and other essential aspects. 2. Appendix B: Performance Metrics — Appendix B outlines the specific performance metrics employed in evaluating executives' performance. It further clarifies how these metrics are calculated and their individual weightage within the overall incentive plan. 3. Appendix C: Bonus Structure and Payout Calculation — This attachment illustrates the bonus structure applied by The Leon Co. within the incentive plan. It includes payout calculations based on metric achievement and provides clarity regarding short-term and long-term incentives. 4. Appendix D: Reporting and Feedback Guidelines — Appendix D outlines the reporting and feedback mechanisms integral to the incentive plan. It includes the frequency of performance reviews, evaluation processes, and guidelines for constructive feedback sessions. By combining a comprehensive plan structure, eligibility criteria, performance metrics, bonus structures, and reporting mechanisms, The Leon Co. ensures that the Bexar Texas Senior Executive Management Incentive Plan serves as a powerful tool to drive consistent growth, employee retention, and overall organizational success.

Title: Bexar Texas Senior Executive Management Incentive Plan at The Leon Co: A Comprehensive Overview Keywords: Bexar County, Texas, Senior Executive Management Incentive Plan, The Leon Co., attachments, types Introduction: The Bexar Texas Senior Executive Management Incentive Plan is a performance-based compensation program designed to reward senior executives at The Leon Co. Located in Bexar County, Texas, this plan is strategically crafted to align executives' objectives with the company's growth, profitability, and overall success. Alongside the plan's provisions, several attachments provide additional details and guidelines. 1. Incentive Plan Overview: The Bexar Texas Senior Executive Management Incentive Plan is an annual program aimed at motivating and retaining top-tier executives at The Leon Co. The plan incorporates various performance metrics to evaluate individual and collective contributions, ensuring that executives are incentivized based on their achievements within pre-determined timeframes. 2. Target Performance Metrics: The plan outlines a set of target performance metrics tailored to the industry, goals, and objectives of The Leon Co. These metrics encompass financial performance, individual leadership, team collaboration, customer satisfaction, innovation, and other key performance indicators (KPIs) critical to the organization's success. 3. Bonus Structure: The incentive plan offers a structured bonus system that provides an additional financial reward for surpassing predetermined targets. The bonus structure is designed to motivate and recognize exceptional performance, offering both short-term and long-term incentives to senior executives. 4. Eligibility Criteria: The Bexar Texas Senior Executive Management Incentive Plan is available to senior executives who meet specific eligibility criteria, including their positions within the organization, past performance records, and tenure. Eligibility will be assessed annually to ensure continued alignment with the plan's objectives. 5. Reporting and Feedback Mechanisms: The incentive plan includes a comprehensive reporting and feedback system that promotes transparency and accountability. Regular performance evaluations, reviews, and feedback sessions allow executives to track their progress and receive valuable input from their superiors, fostering continuous personal and professional growth. Attachments: 1. Appendix A: Incentive Plan Terms and Conditions — This attachment provides a detailed breakdown of the terms and conditions associated with the Bexar Texas Senior Executive Management Incentive Plan. It covers eligibility requirements, performance measurement methodologies, payment schedules, and other essential aspects. 2. Appendix B: Performance Metrics — Appendix B outlines the specific performance metrics employed in evaluating executives' performance. It further clarifies how these metrics are calculated and their individual weightage within the overall incentive plan. 3. Appendix C: Bonus Structure and Payout Calculation — This attachment illustrates the bonus structure applied by The Leon Co. within the incentive plan. It includes payout calculations based on metric achievement and provides clarity regarding short-term and long-term incentives. 4. Appendix D: Reporting and Feedback Guidelines — Appendix D outlines the reporting and feedback mechanisms integral to the incentive plan. It includes the frequency of performance reviews, evaluation processes, and guidelines for constructive feedback sessions. By combining a comprehensive plan structure, eligibility criteria, performance metrics, bonus structures, and reporting mechanisms, The Leon Co. ensures that the Bexar Texas Senior Executive Management Incentive Plan serves as a powerful tool to drive consistent growth, employee retention, and overall organizational success.