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

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• City: Houston
• 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: Houston Texas Senior Executive Management Incentive Plan at The Leon Co. Introduction: The Leon Co., a leading organization based in Houston, Texas, understands the significance of attracting and retaining top senior executive talent. In order to motivate and reward their senior executives, the company has devised a comprehensive Senior Executive Management Incentive Plan. This plan aims to foster exceptional performance, align executive goals with the organization's objectives, and provide lucrative incentives to drive success. The Leon Co. offers various types of executive incentive plans, each with their own unique attachments. Types of Houston Texas Senior Executive Management Incentive Plans: 1. Performance-Based Incentive Plan: The Performance-Based Incentive Plan is designed to reward senior executives based on their individual, team, and company-wide performance achievements. This plan places emphasis on meeting specific performance metrics, such as revenue growth, profitability, customer satisfaction, innovation, and other key performance indicators (KPIs). Performance targets are determined collaboratively, taking into account market competition and the organization's overall strategic objectives. By linking incentives to performance, this plan aims to drive senior executives to achieve stellar results. Attachments: — Performance Scorecard: This document outlines the personalized performance metrics for each executive, including specific targets, weightage, and measurement criteria. — Defined Performance Period: A comprehensive timeline specifying the duration for performance assessment, such as annually, quarterly, or other predetermined intervals. — Performance Assessment Methodology: Detailed guidelines elucidating the process by which performance assessments will be conducted, ensuring transparency and fairness. 2. Equity-Based Incentive Plan: The Equity-Based Incentive Plan is tailored to align the interests of senior executives with that of The Leon Co., promoting long-term commitment and enhanced shareholder value. Executives receive grants or options to acquire company shares based on predetermined vesting schedules. As the executives contribute to the organization's success and share value appreciation over time, they reap the financial benefits tied to this plan. Attachments: — Stock Option Agreement: A legally binding contract outlining the terms and conditions of the stock option granted to senior executives. — Vesting Schedule: A comprehensive plan specifying the timing and conditions under which the equity-based incentives will be fully vested. — Exercise Price Calculation: A formula describing how the executive's exercise price will be determined should they choose to exercise their vested options. 3. Retention Incentive Plan: The Retention Incentive Plan focuses on retaining key senior executives within the organization by offering attractive bonuses or additional benefits. This plan acknowledges the critical role played by experienced and seasoned executives and aims to ensure their loyalty and commitment to the long-term success of The Leon Co. Retention incentives are often granted in conjunction with performance-based and/or equity-based incentives. Attachments: — Retention Bonus Agreement: A formal agreement specifying the terms and conditions governing the retention bonus, including eligibility criteria, payout frequency, and duration. — Performance Milestone: A predetermined performance milestone that, if achieved by the executive, makes them eligible for a retention bonus, further encouraging performance excellence. Conclusion: The Leon Co. recognizes that a well-structured and tailored Senior Executive Management Incentive Plan is vital for attracting, motivating, and retaining top executive talent. The company offers multiple plans, including the Performance-Based Incentive Plan, Equity-Based Incentive Plan, and Retention Incentive Plan, each with their respective attachments. These comprehensive plans ensure that senior executives are adequately rewarded for their exemplary contributions and efforts towards the company's growth and success.

Title: Houston Texas Senior Executive Management Incentive Plan at The Leon Co. Introduction: The Leon Co., a leading organization based in Houston, Texas, understands the significance of attracting and retaining top senior executive talent. In order to motivate and reward their senior executives, the company has devised a comprehensive Senior Executive Management Incentive Plan. This plan aims to foster exceptional performance, align executive goals with the organization's objectives, and provide lucrative incentives to drive success. The Leon Co. offers various types of executive incentive plans, each with their own unique attachments. Types of Houston Texas Senior Executive Management Incentive Plans: 1. Performance-Based Incentive Plan: The Performance-Based Incentive Plan is designed to reward senior executives based on their individual, team, and company-wide performance achievements. This plan places emphasis on meeting specific performance metrics, such as revenue growth, profitability, customer satisfaction, innovation, and other key performance indicators (KPIs). Performance targets are determined collaboratively, taking into account market competition and the organization's overall strategic objectives. By linking incentives to performance, this plan aims to drive senior executives to achieve stellar results. Attachments: — Performance Scorecard: This document outlines the personalized performance metrics for each executive, including specific targets, weightage, and measurement criteria. — Defined Performance Period: A comprehensive timeline specifying the duration for performance assessment, such as annually, quarterly, or other predetermined intervals. — Performance Assessment Methodology: Detailed guidelines elucidating the process by which performance assessments will be conducted, ensuring transparency and fairness. 2. Equity-Based Incentive Plan: The Equity-Based Incentive Plan is tailored to align the interests of senior executives with that of The Leon Co., promoting long-term commitment and enhanced shareholder value. Executives receive grants or options to acquire company shares based on predetermined vesting schedules. As the executives contribute to the organization's success and share value appreciation over time, they reap the financial benefits tied to this plan. Attachments: — Stock Option Agreement: A legally binding contract outlining the terms and conditions of the stock option granted to senior executives. — Vesting Schedule: A comprehensive plan specifying the timing and conditions under which the equity-based incentives will be fully vested. — Exercise Price Calculation: A formula describing how the executive's exercise price will be determined should they choose to exercise their vested options. 3. Retention Incentive Plan: The Retention Incentive Plan focuses on retaining key senior executives within the organization by offering attractive bonuses or additional benefits. This plan acknowledges the critical role played by experienced and seasoned executives and aims to ensure their loyalty and commitment to the long-term success of The Leon Co. Retention incentives are often granted in conjunction with performance-based and/or equity-based incentives. Attachments: — Retention Bonus Agreement: A formal agreement specifying the terms and conditions governing the retention bonus, including eligibility criteria, payout frequency, and duration. — Performance Milestone: A predetermined performance milestone that, if achieved by the executive, makes them eligible for a retention bonus, further encouraging performance excellence. Conclusion: The Leon Co. recognizes that a well-structured and tailored Senior Executive Management Incentive Plan is vital for attracting, motivating, and retaining top executive talent. The company offers multiple plans, including the Performance-Based Incentive Plan, Equity-Based Incentive Plan, and Retention Incentive Plan, each with their respective attachments. These comprehensive plans ensure that senior executives are adequately rewarded for their exemplary contributions and efforts towards the company's growth and success.