Phoenix Arizona Senior Executive Management Incentive Plan with attachments for The Geon Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• City: Phoenix
• 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 The Phoenix Arizona Senior Executive Management Incentive Plan is a comprehensive compensation program designed for senior-level executives in The Leon Co. This plan aims to reward and motivate top talent by aligning their performance goals with the company's strategic objectives. Attached to this plan are several critical documents providing detailed information and outlining the terms and conditions of the incentives. 1. Phoenix Arizona Senior Executive Management Incentive Plan Overview: This attachment serves as a comprehensive guide that provides an overview of the plan. It outlines the purpose, objectives, and key components of the incentive program. It highlights the eligibility criteria, performance measures, and the performance periods within which executives are evaluated to determine the incentives. 2. Performance Metrics and Evaluation Criteria: This attachment contains a detailed breakdown of the performance metrics used to assess executive performance and determine their incentives. It includes specific financial and non-financial goals that executives must achieve. These metrics may include revenue growth, market share, customer satisfaction, employee engagement, innovation, and more. 3. Incentive Calculation Methodology: This document provides a step-by-step explanation of how the incentives are calculated based on the performance metrics and evaluation criteria outlined in the plan. It includes a formula or methodology that assigns a weightage to each performance measure and converts it into a monetary reward. 4. Bonuses and Long-Term Incentives (Lips): This attachment focuses on the different types of bonuses and long-term incentives included in the Senior Executive Management Incentive Plan. It describes the structure and payout schedule of annual bonuses, as well as any stock options, restricted stock units, or performance share units offered as a part of the Lips. 5. Performance Periods and Reporting: This document outlines the specific time periods during which executive performance is evaluated, typically on an annual or quarterly basis. It also specifies the reporting requirements, such as the frequency and format of performance updates, to ensure transparency and accurate assessment. 6. Terms and Conditions: The Terms and Conditions attachment addresses legal and administrative aspects of the Senior Executive Management Incentive Plan. It includes details on forfeiture provisions, clawbacks, vesting schedules, change-in-control provisions, and confidentiality clauses, among others. By implementing the Phoenix Arizona Senior Executive Management Incentive Plan, The Leon Co. aims to attract top talent, foster a culture of performance-driven excellence, and align the interests of senior executives with the organization's strategic goals.

The Phoenix Arizona Senior Executive Management Incentive Plan is a comprehensive compensation program designed for senior-level executives in The Leon Co. This plan aims to reward and motivate top talent by aligning their performance goals with the company's strategic objectives. Attached to this plan are several critical documents providing detailed information and outlining the terms and conditions of the incentives. 1. Phoenix Arizona Senior Executive Management Incentive Plan Overview: This attachment serves as a comprehensive guide that provides an overview of the plan. It outlines the purpose, objectives, and key components of the incentive program. It highlights the eligibility criteria, performance measures, and the performance periods within which executives are evaluated to determine the incentives. 2. Performance Metrics and Evaluation Criteria: This attachment contains a detailed breakdown of the performance metrics used to assess executive performance and determine their incentives. It includes specific financial and non-financial goals that executives must achieve. These metrics may include revenue growth, market share, customer satisfaction, employee engagement, innovation, and more. 3. Incentive Calculation Methodology: This document provides a step-by-step explanation of how the incentives are calculated based on the performance metrics and evaluation criteria outlined in the plan. It includes a formula or methodology that assigns a weightage to each performance measure and converts it into a monetary reward. 4. Bonuses and Long-Term Incentives (Lips): This attachment focuses on the different types of bonuses and long-term incentives included in the Senior Executive Management Incentive Plan. It describes the structure and payout schedule of annual bonuses, as well as any stock options, restricted stock units, or performance share units offered as a part of the Lips. 5. Performance Periods and Reporting: This document outlines the specific time periods during which executive performance is evaluated, typically on an annual or quarterly basis. It also specifies the reporting requirements, such as the frequency and format of performance updates, to ensure transparency and accurate assessment. 6. Terms and Conditions: The Terms and Conditions attachment addresses legal and administrative aspects of the Senior Executive Management Incentive Plan. It includes details on forfeiture provisions, clawbacks, vesting schedules, change-in-control provisions, and confidentiality clauses, among others. By implementing the Phoenix Arizona Senior Executive Management Incentive Plan, The Leon Co. aims to attract top talent, foster a culture of performance-driven excellence, and align the interests of senior executives with the organization's strategic goals.