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

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Collin
• 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 Collin Texas Senior Executive Management Incentive Plan The Collin Texas Senior Executive Management Incentive Plan is a comprehensive program developed by The Leon Co. to reward and motivate their senior executive team based in Collin, Texas. This plan aims to align the company's objectives with the performance and rewards of its top-level management. Key Elements of the Plan: 1. Performance-Based Incentives: The Collin Texas Senior Executive Management Incentive Plan utilizes a performance-based structure, where executives are rewarded based on their individual and team achievements. Key performance indicators (KPIs) are set to measure success in areas such as revenue growth, profitability, market share, and strategic objectives. 2. Financial Incentives: The plan offers a variety of financial incentives to senior executives, including bonuses, stock options, profit sharing, and deferred compensation packages. These incentives are designed to provide significant financial rewards that align with the overall business performance and growth. 3. Long-Term Incentives: To encourage sustained performance and long-term commitment, The Leon Co.'s Collin Texas Senior Executive Management Incentive Plan includes long-term incentives like restricted stock units (RSS) or performance share units (Plus), which vest over a specified period. These incentives motivate executives to focus on sustainable growth strategies rather than short-term gains. 4. Individualized Targets: Each executive's performance targets and incentives are tailored to their role and responsibilities. This customization ensures that the plan remains fair, transparent, and encourages personal growth and career advancement. Attachments: 1. Collin Texas Senior Executive Management Incentive Plan Guidelines: This document provides a detailed explanation of the plan's structure, eligibility criteria, performance metrics, and overall reward mechanism. It outlines the purpose, objectives, and benefits of the plan for the executives as well as the organization. 2. Sample Performance Metrics: Attached are examples of performance metrics used to assess the achievement of goals and objectives. These metrics are benchmarked against industry standards and adapted to suit The Leon Co.'s unique business model. 3. Contractual Agreements: The incentive plan includes individual contractual agreements between The Leon Co. and each senior executive. These agreements outline the specific terms and conditions of their incentive plan, including the frequency of payouts, vesting periods, and performance assessment timelines. Different Types of Collin Texas Senior Executive Management Incentive Plans: 1. Annual Incentive Plan: This type of plan focuses on rewarding executives based on their performance over a fiscal year. It is designed to drive short-term performance and provide immediate financial incentives. 2. Multi-Year Incentive Plan: This plan extends over multiple years and aligns with strategic initiatives that require longer periods to achieve results. It combines both short-term and long-term incentives to encourage sustained performance and align executives with the company's vision. 3. Special Performance Initiatives: Occasionally, The Leon Co. may implement specialized incentive plans to address specific business objectives, such as entering new markets or launching new products. These plans are tailored to address the unique challenges and opportunities associated with those initiatives. The Collin Texas Senior Executive Management Incentive Plan, with its customizable approach, robust financial incentives, and focus on long-term success, ensures the alignment of executive performance with the overall success of The Leon Co. in Collin, Texas.

Collin Texas Senior Executive Management Incentive Plan The Collin Texas Senior Executive Management Incentive Plan is a comprehensive program developed by The Leon Co. to reward and motivate their senior executive team based in Collin, Texas. This plan aims to align the company's objectives with the performance and rewards of its top-level management. Key Elements of the Plan: 1. Performance-Based Incentives: The Collin Texas Senior Executive Management Incentive Plan utilizes a performance-based structure, where executives are rewarded based on their individual and team achievements. Key performance indicators (KPIs) are set to measure success in areas such as revenue growth, profitability, market share, and strategic objectives. 2. Financial Incentives: The plan offers a variety of financial incentives to senior executives, including bonuses, stock options, profit sharing, and deferred compensation packages. These incentives are designed to provide significant financial rewards that align with the overall business performance and growth. 3. Long-Term Incentives: To encourage sustained performance and long-term commitment, The Leon Co.'s Collin Texas Senior Executive Management Incentive Plan includes long-term incentives like restricted stock units (RSS) or performance share units (Plus), which vest over a specified period. These incentives motivate executives to focus on sustainable growth strategies rather than short-term gains. 4. Individualized Targets: Each executive's performance targets and incentives are tailored to their role and responsibilities. This customization ensures that the plan remains fair, transparent, and encourages personal growth and career advancement. Attachments: 1. Collin Texas Senior Executive Management Incentive Plan Guidelines: This document provides a detailed explanation of the plan's structure, eligibility criteria, performance metrics, and overall reward mechanism. It outlines the purpose, objectives, and benefits of the plan for the executives as well as the organization. 2. Sample Performance Metrics: Attached are examples of performance metrics used to assess the achievement of goals and objectives. These metrics are benchmarked against industry standards and adapted to suit The Leon Co.'s unique business model. 3. Contractual Agreements: The incentive plan includes individual contractual agreements between The Leon Co. and each senior executive. These agreements outline the specific terms and conditions of their incentive plan, including the frequency of payouts, vesting periods, and performance assessment timelines. Different Types of Collin Texas Senior Executive Management Incentive Plans: 1. Annual Incentive Plan: This type of plan focuses on rewarding executives based on their performance over a fiscal year. It is designed to drive short-term performance and provide immediate financial incentives. 2. Multi-Year Incentive Plan: This plan extends over multiple years and aligns with strategic initiatives that require longer periods to achieve results. It combines both short-term and long-term incentives to encourage sustained performance and align executives with the company's vision. 3. Special Performance Initiatives: Occasionally, The Leon Co. may implement specialized incentive plans to address specific business objectives, such as entering new markets or launching new products. These plans are tailored to address the unique challenges and opportunities associated with those initiatives. The Collin Texas Senior Executive Management Incentive Plan, with its customizable approach, robust financial incentives, and focus on long-term success, ensures the alignment of executive performance with the overall success of The Leon Co. in Collin, Texas.