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

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• City: San Jose
• 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: San Jose California Senior Executive Management Incentive Plan at The Leon Co. Introduction: The San Jose California Senior Executive Management Incentive Plan at The Leon Co. is a comprehensive compensation program designed to reward senior executives for their exceptional performance and contribution to the company's success. This detailed description will provide an overview of the plan's structure, objectives, key features, and attached documents for the Leon Co. 1. Structure and Objectives: The San Jose California Senior Executive Management Incentive Plan aims to align the interests of senior executives with the long-term growth and profitability of The Leon Co. Key components of the plan include the following: a) Performance Measures: The plan incorporates both quantitative and qualitative performance metrics, such as revenue growth, profitability, market share, innovation, customer satisfaction, and sustainability goals. These measures ensure a balanced assessment of executive performance. b) Performance Period: The plan operates on an annual basis, with targets and objectives set at the beginning of each fiscal year. This time-bound approach allows executives to focus on achieving short-term goals while promoting long-term strategic planning. c) Target Incentive Amount: Executives are assigned a target incentive amount, which represents a percentage of their base salary. This amount is contingent on achieving specified performance goals at or above predetermined thresholds. 2. Key Features: The San Jose California Senior Executive Management Incentive Plan includes several noteworthy features: a) Bonus Payout Structure: The bonus payout structure comprises a combination of fixed and variable components. It ensures that a portion of the incentive is granted based on a predetermined formula, while the remaining is contingent upon the overall organizational performance and individual contributions. b) Accountability and Governance: The plan incorporates a robust accountability framework, emphasizing transparency and fairness. A dedicated committee drives the plan's administration, reviews performance results, and ensures adherence to established guidelines. c) Clawback Provisions: To mitigate risks and promote responsible behavior, clawback provisions are integrated into the plan. These provisions enable The Leon Co. to recoup previously paid incentives in case of material misstatements, fraud, or other breaches of the company's policies. 3. Attachments: a) Senior Executive Management Incentive Plan Policy: This attachment contains the detailed policy document outlining the terms, conditions, eligibility criteria, and relevant guidelines for the Senior Executive Management Incentive Plan at The Leon Co. It provides a comprehensive overview of how the plan operates and the expectations from participating executives. b) Performance Metrics and Target Thresholds: This attachment presents a detailed breakdown of performance metrics and associated target thresholds for the current fiscal year. It outlines measurable goals and describes how the performance evaluation will be conducted. c) Communication and Transparency Guidelines: This attachment includes guidelines regarding the communication and transparency requirements associated with the Senior Executive Management Incentive Plan. It ensures that executives receive timely and accurate information regarding their individual performance, incentive calculations, and payout timelines. Conclusion: The San Jose California Senior Executive Management Incentive Plan offered at The Leon Co. is a flexible and performance-driven compensation program designed to motivate senior executives towards achieving strategic objectives. Its structure, objectives, and key features, as well as the attached documents, ensure a transparent and fair reward system that aligns executive performance with the long-term success of The Leon Co.

Title: San Jose California Senior Executive Management Incentive Plan at The Leon Co. Introduction: The San Jose California Senior Executive Management Incentive Plan at The Leon Co. is a comprehensive compensation program designed to reward senior executives for their exceptional performance and contribution to the company's success. This detailed description will provide an overview of the plan's structure, objectives, key features, and attached documents for the Leon Co. 1. Structure and Objectives: The San Jose California Senior Executive Management Incentive Plan aims to align the interests of senior executives with the long-term growth and profitability of The Leon Co. Key components of the plan include the following: a) Performance Measures: The plan incorporates both quantitative and qualitative performance metrics, such as revenue growth, profitability, market share, innovation, customer satisfaction, and sustainability goals. These measures ensure a balanced assessment of executive performance. b) Performance Period: The plan operates on an annual basis, with targets and objectives set at the beginning of each fiscal year. This time-bound approach allows executives to focus on achieving short-term goals while promoting long-term strategic planning. c) Target Incentive Amount: Executives are assigned a target incentive amount, which represents a percentage of their base salary. This amount is contingent on achieving specified performance goals at or above predetermined thresholds. 2. Key Features: The San Jose California Senior Executive Management Incentive Plan includes several noteworthy features: a) Bonus Payout Structure: The bonus payout structure comprises a combination of fixed and variable components. It ensures that a portion of the incentive is granted based on a predetermined formula, while the remaining is contingent upon the overall organizational performance and individual contributions. b) Accountability and Governance: The plan incorporates a robust accountability framework, emphasizing transparency and fairness. A dedicated committee drives the plan's administration, reviews performance results, and ensures adherence to established guidelines. c) Clawback Provisions: To mitigate risks and promote responsible behavior, clawback provisions are integrated into the plan. These provisions enable The Leon Co. to recoup previously paid incentives in case of material misstatements, fraud, or other breaches of the company's policies. 3. Attachments: a) Senior Executive Management Incentive Plan Policy: This attachment contains the detailed policy document outlining the terms, conditions, eligibility criteria, and relevant guidelines for the Senior Executive Management Incentive Plan at The Leon Co. It provides a comprehensive overview of how the plan operates and the expectations from participating executives. b) Performance Metrics and Target Thresholds: This attachment presents a detailed breakdown of performance metrics and associated target thresholds for the current fiscal year. It outlines measurable goals and describes how the performance evaluation will be conducted. c) Communication and Transparency Guidelines: This attachment includes guidelines regarding the communication and transparency requirements associated with the Senior Executive Management Incentive Plan. It ensures that executives receive timely and accurate information regarding their individual performance, incentive calculations, and payout timelines. Conclusion: The San Jose California Senior Executive Management Incentive Plan offered at The Leon Co. is a flexible and performance-driven compensation program designed to motivate senior executives towards achieving strategic objectives. Its structure, objectives, and key features, as well as the attached documents, ensure a transparent and fair reward system that aligns executive performance with the long-term success of The Leon Co.