Mecklenburg North Carolina Senior Executive Management Incentive Plan with attachments for The Geon Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Mecklenburg
• 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 Mecklenburg North Carolina Senior Executive Management Incentive Plan (SEMI) is a comprehensive compensation program designed to attract, motivate, and retain top-tier senior executives within The Leon Co. This plan aims to align the performance of senior executives with the company's strategic objectives and long-term growth. The SEMI plan consists of various key components and attachments that outline the eligibility, performance goals, payout structure, and other important details. These attachments may include: 1. Eligibility Criteria: — This attachment defines the executive positions eligible for participation in the SEMI plan. — It outlines the tenure, performance history, and other requirements necessary for executives to be considered for inclusion in the plan. 2. Performance Metrics: — This attachment lays out the specific metrics and targets against which senior executive performance will be measured. — Examples of performance metrics may include financial goals (revenue growth, profitability, etc.), operational excellence, customer satisfaction, innovation, and other strategic objectives of The Leon Co. 3. Incentive Payout Structure: — This attachment explains how the incentive payouts will be determined based on the achievement of predefined performance goals by eligible senior executives. — It may include details about the weightage assigned to each performance metric and the corresponding payout percentage for achieving various thresholds. 4. Long-Term Incentives: — This attachment provides details about long-term incentive plans that may be offered to senior executives as part of the SEMI program. — Examples of long-term incentives could include stock options, restricted stock units, performance-based equity awards, or other forms of equity-based compensation. 5. Governance and Administration: — This attachment outlines the governance structure and administration procedures associated with the SEMI plan. — It may include the roles and responsibilities of the Compensation Committee, procedures for plan amendments, clawback provisions, and confidentiality agreements. 6. Performance Review and Evaluation Process: — This attachment describes the process of evaluating senior executive performance against the SEMI plan's objectives. — It may specify the frequency of performance reviews, performance evaluation methodologies, and feedback mechanisms. 7. Communication and Disclosure: — This attachment discusses how the SEMI plan will be communicated to eligible senior executives, ensuring transparency and understanding of the plan's components. — It may address any relevant legal disclosure requirements and guidelines for communicating plan updates and changes. Different types of Mecklenburg North Carolina Senior Executive Management Incentive Plans offered by The Leon Co. may be named based on various factors such as executive level, company division, or specific goals. Examples could include: — Mecklenburg North Carolina Senior Executive Management Quarterly Performance Incentive Plan — Mecklenburg North Carolina Senior Executive Management Long-Term Equity Incentive Plan — Mecklenburg North Carolina Senior Executive Management Sales Growth Incentive Plan These named plans would have corresponding attachments tailored to their specific goals and payout structures while aligning with the overall framework of the SEMI program.

Mecklenburg North Carolina Senior Executive Management Incentive Plan (SEMI) is a comprehensive compensation program designed to attract, motivate, and retain top-tier senior executives within The Leon Co. This plan aims to align the performance of senior executives with the company's strategic objectives and long-term growth. The SEMI plan consists of various key components and attachments that outline the eligibility, performance goals, payout structure, and other important details. These attachments may include: 1. Eligibility Criteria: — This attachment defines the executive positions eligible for participation in the SEMI plan. — It outlines the tenure, performance history, and other requirements necessary for executives to be considered for inclusion in the plan. 2. Performance Metrics: — This attachment lays out the specific metrics and targets against which senior executive performance will be measured. — Examples of performance metrics may include financial goals (revenue growth, profitability, etc.), operational excellence, customer satisfaction, innovation, and other strategic objectives of The Leon Co. 3. Incentive Payout Structure: — This attachment explains how the incentive payouts will be determined based on the achievement of predefined performance goals by eligible senior executives. — It may include details about the weightage assigned to each performance metric and the corresponding payout percentage for achieving various thresholds. 4. Long-Term Incentives: — This attachment provides details about long-term incentive plans that may be offered to senior executives as part of the SEMI program. — Examples of long-term incentives could include stock options, restricted stock units, performance-based equity awards, or other forms of equity-based compensation. 5. Governance and Administration: — This attachment outlines the governance structure and administration procedures associated with the SEMI plan. — It may include the roles and responsibilities of the Compensation Committee, procedures for plan amendments, clawback provisions, and confidentiality agreements. 6. Performance Review and Evaluation Process: — This attachment describes the process of evaluating senior executive performance against the SEMI plan's objectives. — It may specify the frequency of performance reviews, performance evaluation methodologies, and feedback mechanisms. 7. Communication and Disclosure: — This attachment discusses how the SEMI plan will be communicated to eligible senior executives, ensuring transparency and understanding of the plan's components. — It may address any relevant legal disclosure requirements and guidelines for communicating plan updates and changes. Different types of Mecklenburg North Carolina Senior Executive Management Incentive Plans offered by The Leon Co. may be named based on various factors such as executive level, company division, or specific goals. Examples could include: — Mecklenburg North Carolina Senior Executive Management Quarterly Performance Incentive Plan — Mecklenburg North Carolina Senior Executive Management Long-Term Equity Incentive Plan — Mecklenburg North Carolina Senior Executive Management Sales Growth Incentive Plan These named plans would have corresponding attachments tailored to their specific goals and payout structures while aligning with the overall framework of the SEMI program.