Riverside California Senior Executive Management Incentive Plan with attachments for The Geon Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Riverside
• 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: Riverside California Senior Executive Management Incentive Plan for The Leon Co. — A Comprehensive Overview Keywords: Riverside California, Senior Executive Management Incentive Plan, The Leon Co., attachments, types Introduction: The Riverside California Senior Executive Management Incentive Plan is a strategic framework designed by The Leon Co. to recognize and motivate its senior executives. This comprehensive program is designed to reward senior executives for their exceptional leadership, innovation, and contribution to the company's success. The plan demonstrates The Leon Co.'s commitment to attracting and retaining top talent in the competitive business market. I. Overview of the Riverside California Senior Executive Management Incentive Plan: 1. Purpose: The primary objective of this incentive plan is to align the interests of senior executives with the long-term goals and objectives of The Leon Co. by offering financial rewards based on the achievement of predetermined performance targets. 2. Eligibility: The plan is exclusively available for senior executives identified by The Leon Co.'s Board of Directors. 3. Performance Criteria: The incentivized performance metrics may include financial targets, market share growth, customer satisfaction, product innovation, and other relevant key performance indicators (KPIs). 4. Measurement Period: The performance measurement period typically aligns with the fiscal year of The Leon Co. 5. Payout Structure: The plan outlines the framework for calculating and distributing incentives based on the level of achievement against the predetermined performance criteria. 6. Confidentiality: The Riverside California Senior Executive Management Incentive Plan underscores the confidential nature of the program, ensuring sensitive information about the plan and related incentives remains private. Attachments: 1. Performance Metrics and Goals: This attachment provides a detailed explanation of the performance metrics and goals set for the senior executives participating in the incentive plan. Specific targets are outlined, along with the corresponding weightage assigned to each metric. 2. Calculation Methodology: This attachment elucidates the calculation methodology used to determine the incentive payout based on achievement levels. It may include formulas, performance thresholds, and a breakdown of the incentive structure. 3. Sample Incentive Agreement: This attachment provides a hypothetical example of an incentive agreement between The Leon Co. and a senior executive, showcasing how the incentive plan is formulated and communicated to the eligible executives. 4. Reporting and Monitoring Process: This attachment outlines the process by which the performance metrics are reported, monitored, and validated to ensure accuracy and transparency. Types of Riverside California Senior Executive Management Incentive Plans for The Leon Co.: 1. Annual Incentive Plan: This plan offers performance-based incentives on an annual basis, aligned with the fiscal year of The Leon Co. It aims to reward executives for driving short-term goals and objectives. 2. Long-Term Incentive Plan: This plan extends compensation beyond the annual cycle, typically for a period of multiple years. It emphasizes the achievement of long-term strategic objectives and encourages executives to think beyond short-term gains. In conclusion, The Leon Co.'s Riverside California Senior Executive Management Incentive Plan is a comprehensive program aimed at attracting and retaining highly motivated senior executives. By implementing effective performance measurement and clear payout structures, the plan enables The Leon Co. to reward and motivate individuals who contribute significantly to the company's growth and long-term success.

Title: Riverside California Senior Executive Management Incentive Plan for The Leon Co. — A Comprehensive Overview Keywords: Riverside California, Senior Executive Management Incentive Plan, The Leon Co., attachments, types Introduction: The Riverside California Senior Executive Management Incentive Plan is a strategic framework designed by The Leon Co. to recognize and motivate its senior executives. This comprehensive program is designed to reward senior executives for their exceptional leadership, innovation, and contribution to the company's success. The plan demonstrates The Leon Co.'s commitment to attracting and retaining top talent in the competitive business market. I. Overview of the Riverside California Senior Executive Management Incentive Plan: 1. Purpose: The primary objective of this incentive plan is to align the interests of senior executives with the long-term goals and objectives of The Leon Co. by offering financial rewards based on the achievement of predetermined performance targets. 2. Eligibility: The plan is exclusively available for senior executives identified by The Leon Co.'s Board of Directors. 3. Performance Criteria: The incentivized performance metrics may include financial targets, market share growth, customer satisfaction, product innovation, and other relevant key performance indicators (KPIs). 4. Measurement Period: The performance measurement period typically aligns with the fiscal year of The Leon Co. 5. Payout Structure: The plan outlines the framework for calculating and distributing incentives based on the level of achievement against the predetermined performance criteria. 6. Confidentiality: The Riverside California Senior Executive Management Incentive Plan underscores the confidential nature of the program, ensuring sensitive information about the plan and related incentives remains private. Attachments: 1. Performance Metrics and Goals: This attachment provides a detailed explanation of the performance metrics and goals set for the senior executives participating in the incentive plan. Specific targets are outlined, along with the corresponding weightage assigned to each metric. 2. Calculation Methodology: This attachment elucidates the calculation methodology used to determine the incentive payout based on achievement levels. It may include formulas, performance thresholds, and a breakdown of the incentive structure. 3. Sample Incentive Agreement: This attachment provides a hypothetical example of an incentive agreement between The Leon Co. and a senior executive, showcasing how the incentive plan is formulated and communicated to the eligible executives. 4. Reporting and Monitoring Process: This attachment outlines the process by which the performance metrics are reported, monitored, and validated to ensure accuracy and transparency. Types of Riverside California Senior Executive Management Incentive Plans for The Leon Co.: 1. Annual Incentive Plan: This plan offers performance-based incentives on an annual basis, aligned with the fiscal year of The Leon Co. It aims to reward executives for driving short-term goals and objectives. 2. Long-Term Incentive Plan: This plan extends compensation beyond the annual cycle, typically for a period of multiple years. It emphasizes the achievement of long-term strategic objectives and encourages executives to think beyond short-term gains. In conclusion, The Leon Co.'s Riverside California Senior Executive Management Incentive Plan is a comprehensive program aimed at attracting and retaining highly motivated senior executives. By implementing effective performance measurement and clear payout structures, the plan enables The Leon Co. to reward and motivate individuals who contribute significantly to the company's growth and long-term success.