Salt Lake Utah Senior Executive Management Incentive Plan with attachments for The Geon Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Salt Lake
• 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 Salt Lake Utah Senior Executive Management Incentive Plan: The Salt Lake Utah Senior Executive Management Incentive Plan offered by The Leon Co. is a comprehensive and lucrative rewards program designed to motivate and reward senior executives for their exceptional performance and contribution towards the company's strategic goals and objectives. This incentive plan is specifically tailored for senior executives operating within the Salt Lake Utah division of The Leon Co. Key Features: 1. Performance-Based Compensation: The plan is based on performance metrics such as revenue growth, profit margins, market share, and other key performance indicators (KPIs) relevant to the Salt Lake Utah division's success. Executives who consistently achieve or exceed these targets are eligible for substantial financial rewards. 2. Long-Term Incentives: This plan incorporates long-term incentives to ensure executives have a vested interest in the company's sustained success. These incentives may include stock options, equity grants, phantom shares, or other forms of equity-based compensation, allowing executives to benefit from the company's growth over time. 3. Customized Targets: The Salt Lake Utah Senior Executive Management Incentive Plan takes into account the unique challenges and business environment of the Salt Lake Utah division. It establishes clear and realistic targets aligned with the division's strategic goals to encourage executives to drive performance and achieve exceptional results. 4. Transparent Performance Evaluation: The plan utilizes a transparent and objective performance evaluation process to determine rewards. Key performance metrics are measured periodically, providing executives with clear visibility into their individual progress towards their targets. 5. Multi-Tiered Structure: The incentive plan may consist of multiple tiers or levels to align rewards with various levels of senior executive positions. Different tiers may have different targets and corresponding payout scales to reflect varying responsibilities and contribution levels. Attachments for The Leon Co. Salt Lake Utah Senior Executive Management Incentive Plan: 1. Plan Description Document: This document provides a detailed explanation of the Salt Lake Utah Senior Executive Management Incentive Plan, outlining its objectives, eligibility criteria, performance metrics, payout structure, and the evaluation process. 2. Performance Metrics Worksheet: This worksheet lists the specific performance metrics used to evaluate executive performance and calculate incentive payouts. It includes clear definitions, target benchmarks, and any weightings assigned to different metrics. 3. Sample Compensation Calculator: This attachment illustrates how the incentive payouts are calculated based on the achieved performance levels. It showcases the potential financial rewards for executives at different performance levels and provides a tangible example to help recipients understand how their rewards are determined. Different types of Salt Lake Utah Senior Executive Management Incentive Plans with attachments for The Leon Co. may include variations specific to different senior executive roles within the Salt Lake Utah division, such as Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operations Officer (COO), or Vice Presidents. Each role may have its specific targets, metrics, and corresponding payout structures, tailored to their respective responsibilities and contributions to the overall success of the division.

Salt Lake Utah Senior Executive Management Incentive Plan: The Salt Lake Utah Senior Executive Management Incentive Plan offered by The Leon Co. is a comprehensive and lucrative rewards program designed to motivate and reward senior executives for their exceptional performance and contribution towards the company's strategic goals and objectives. This incentive plan is specifically tailored for senior executives operating within the Salt Lake Utah division of The Leon Co. Key Features: 1. Performance-Based Compensation: The plan is based on performance metrics such as revenue growth, profit margins, market share, and other key performance indicators (KPIs) relevant to the Salt Lake Utah division's success. Executives who consistently achieve or exceed these targets are eligible for substantial financial rewards. 2. Long-Term Incentives: This plan incorporates long-term incentives to ensure executives have a vested interest in the company's sustained success. These incentives may include stock options, equity grants, phantom shares, or other forms of equity-based compensation, allowing executives to benefit from the company's growth over time. 3. Customized Targets: The Salt Lake Utah Senior Executive Management Incentive Plan takes into account the unique challenges and business environment of the Salt Lake Utah division. It establishes clear and realistic targets aligned with the division's strategic goals to encourage executives to drive performance and achieve exceptional results. 4. Transparent Performance Evaluation: The plan utilizes a transparent and objective performance evaluation process to determine rewards. Key performance metrics are measured periodically, providing executives with clear visibility into their individual progress towards their targets. 5. Multi-Tiered Structure: The incentive plan may consist of multiple tiers or levels to align rewards with various levels of senior executive positions. Different tiers may have different targets and corresponding payout scales to reflect varying responsibilities and contribution levels. Attachments for The Leon Co. Salt Lake Utah Senior Executive Management Incentive Plan: 1. Plan Description Document: This document provides a detailed explanation of the Salt Lake Utah Senior Executive Management Incentive Plan, outlining its objectives, eligibility criteria, performance metrics, payout structure, and the evaluation process. 2. Performance Metrics Worksheet: This worksheet lists the specific performance metrics used to evaluate executive performance and calculate incentive payouts. It includes clear definitions, target benchmarks, and any weightings assigned to different metrics. 3. Sample Compensation Calculator: This attachment illustrates how the incentive payouts are calculated based on the achieved performance levels. It showcases the potential financial rewards for executives at different performance levels and provides a tangible example to help recipients understand how their rewards are determined. Different types of Salt Lake Utah Senior Executive Management Incentive Plans with attachments for The Leon Co. may include variations specific to different senior executive roles within the Salt Lake Utah division, such as Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operations Officer (COO), or Vice Presidents. Each role may have its specific targets, metrics, and corresponding payout structures, tailored to their respective responsibilities and contributions to the overall success of the division.