Chicago Illinois Senior Executive Management Incentive Plan with attachments for The Geon Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• City: Chicago
• 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: Comprehensive Overview of Chicago Illinois Senior Executive Management Incentive Plan for The Leon Co. Keywords: Chicago Illinois, Senior Executive Management Incentive Plan, The Leon Co., executive compensation, performance-based bonuses, long-term incentives, stock options, attachments ------------------------------ Introduction: The Leon Co., a leading organization in Chicago, Illinois, recognizes the importance of attracting and retaining top-tier senior executives. To align the interests of its key leaders with the long-term growth and success of the company, The Leon Co. offers a well-structured and competitive Senior Executive Management Incentive Plan. This detailed description provides an insight into the various elements of this program, including attachments, if applicable. 1. Performance-Based Bonuses: The Senior Executive Management Incentive Plan at The Leon Co. incorporates performance-based bonuses, a critical component in driving executive performance. Executives are given the opportunity to earn substantial annual bonuses by meeting or exceeding predetermined performance targets. These targets are designed to focus on key performance indicators, such as revenue growth, profitability, operational efficiency, and strategic milestones. 2. Long-Term Incentives: The Leon Co. recognizes the value of promoting long-term commitment and continuous leadership development within its senior executive team. Consequently, it offers long-term incentives to its top executives as part of the Senior Executive Management Incentive Plan. These incentives are primarily structured to ensure sustained growth, alignment with shareholder interests, and stability in the executive team. 3. Stock Options: As one of the forms of long-term incentives, The Leon Co. provides senior executives with stock options, enabling them to acquire company shares at predetermined prices over a specific period. Stock options not only foster an ownership mindset among executives but also reward them for contributing to the company's overall success and long-term value creation. Attachments: 1. Performance Metrics Guide: This attachment elaborates on the performance metrics used to evaluate executive performance and determine eligibility for bonuses. It provides a clear explanation of how executives' achievements are measured against established targets, ensuring transparency and fairness in the evaluation process. 2. Long-Term Incentives Overview: The second attachment outlines the comprehensive details of long-term incentives offered to senior executives. It includes a breakdown of stock options, vesting schedules, specific conditions, and any limitations associated with these incentives. This attachment aims to provide a complete understanding of the long-term component of the Senior Executive Management Incentive Plan. Conclusion: The Chicago Illinois Senior Executive Management Incentive Plan introduced by The Leon Co. demonstrates the company's commitment to attracting, retaining, and rewarding top executive talent. By combining performance-based bonuses and long-term incentives, such as stock options, The Leon Co. ensures that its senior executives are driven by both immediate and future performance incentives. The attachments further provide detailed insights into the performance metrics and long-term incentives to guarantee clarity and transparency throughout the plan.

Title: Comprehensive Overview of Chicago Illinois Senior Executive Management Incentive Plan for The Leon Co. Keywords: Chicago Illinois, Senior Executive Management Incentive Plan, The Leon Co., executive compensation, performance-based bonuses, long-term incentives, stock options, attachments ------------------------------ Introduction: The Leon Co., a leading organization in Chicago, Illinois, recognizes the importance of attracting and retaining top-tier senior executives. To align the interests of its key leaders with the long-term growth and success of the company, The Leon Co. offers a well-structured and competitive Senior Executive Management Incentive Plan. This detailed description provides an insight into the various elements of this program, including attachments, if applicable. 1. Performance-Based Bonuses: The Senior Executive Management Incentive Plan at The Leon Co. incorporates performance-based bonuses, a critical component in driving executive performance. Executives are given the opportunity to earn substantial annual bonuses by meeting or exceeding predetermined performance targets. These targets are designed to focus on key performance indicators, such as revenue growth, profitability, operational efficiency, and strategic milestones. 2. Long-Term Incentives: The Leon Co. recognizes the value of promoting long-term commitment and continuous leadership development within its senior executive team. Consequently, it offers long-term incentives to its top executives as part of the Senior Executive Management Incentive Plan. These incentives are primarily structured to ensure sustained growth, alignment with shareholder interests, and stability in the executive team. 3. Stock Options: As one of the forms of long-term incentives, The Leon Co. provides senior executives with stock options, enabling them to acquire company shares at predetermined prices over a specific period. Stock options not only foster an ownership mindset among executives but also reward them for contributing to the company's overall success and long-term value creation. Attachments: 1. Performance Metrics Guide: This attachment elaborates on the performance metrics used to evaluate executive performance and determine eligibility for bonuses. It provides a clear explanation of how executives' achievements are measured against established targets, ensuring transparency and fairness in the evaluation process. 2. Long-Term Incentives Overview: The second attachment outlines the comprehensive details of long-term incentives offered to senior executives. It includes a breakdown of stock options, vesting schedules, specific conditions, and any limitations associated with these incentives. This attachment aims to provide a complete understanding of the long-term component of the Senior Executive Management Incentive Plan. Conclusion: The Chicago Illinois Senior Executive Management Incentive Plan introduced by The Leon Co. demonstrates the company's commitment to attracting, retaining, and rewarding top executive talent. By combining performance-based bonuses and long-term incentives, such as stock options, The Leon Co. ensures that its senior executives are driven by both immediate and future performance incentives. The attachments further provide detailed insights into the performance metrics and long-term incentives to guarantee clarity and transparency throughout the plan.