Suffolk New York Senior Executive Management Incentive Plan with attachments for The Geon Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Suffolk
• 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: Suffolk New York Senior Executive Management Incentive Plan for The Leon Co. Keywords: Suffolk New York, Senior Executive Management, Incentive Plan, The Leon Co., attachments 1. Overview of the Suffolk New York Senior Executive Management Incentive Plan: The Suffolk New York Senior Executive Management Incentive Plan for The Leon Co. is a comprehensive incentive program designed to reward and retain top-performing senior executives within the organization. This plan aims to motivate executives to achieve specific business goals while aligning their efforts with the company's long-term strategic objectives. 2. Key Components of the Suffolk New York Senior Executive Management Incentive Plan: a) Performance-Based Compensation: The plan offers a competitive compensation structure based on the attainment of predefined performance targets. These targets are directly linked to the company's financial and operational success, ensuring executives have a vested interest in driving growth and profitability. b) Annual Performance Evaluation: Executive performance is regularly evaluated by assessing individual and team contributions towards meeting targets. Rigorous performance evaluations ensure that rewards are allocated fairly and transparently. c) Long-Term Incentives: The plan may include long-term incentives, such as stock options, restricted stock units, or performance shares, to encourage executives' focus on the organization's sustained growth and shareholder value. d) Retention Provisions: The Suffolk New York Senior Executive Management Incentive Plan may include provisions to retain high-performing executives over a specified period. These provisions could range from cash retention bonuses to deferred compensation arrangements based on longevity or milestones achieved. 3. Attachments to the Suffolk New York Senior Executive Management Incentive Plan: a) Plan Document: A detailed plan document outlining the structure, eligibility criteria, performance evaluation methodology, and terms and conditions of the incentive plan. b) Performance Goals: An attachment listing the specific performance targets or metrics against which executives' performance will be assessed, such as revenue growth, cost reduction, market share expansion, or customer satisfaction rates. c) Compensation Schedule: A breakdown of how executive compensation is tied to performance targets, including formulas or grids illustrating payout scenarios based on different levels of performance. d) Long-Term Incentive Plan Details: If long-term incentives are offered, separate attachments outlining the terms and conditions, vesting schedules, and valuation methods for stock options or restricted stock units. e) Retention Provisions: If retention provisions are included, an attachment covering details on the eligibility requirements, payout structure, and conditions triggering the retention benefits. *Note: If there are different variations or types of Suffolk New York Senior Executive Management Incentive Plans for The Leon Co., specify their names or descriptions to provide a more tailored description of the plan.

Title: Suffolk New York Senior Executive Management Incentive Plan for The Leon Co. Keywords: Suffolk New York, Senior Executive Management, Incentive Plan, The Leon Co., attachments 1. Overview of the Suffolk New York Senior Executive Management Incentive Plan: The Suffolk New York Senior Executive Management Incentive Plan for The Leon Co. is a comprehensive incentive program designed to reward and retain top-performing senior executives within the organization. This plan aims to motivate executives to achieve specific business goals while aligning their efforts with the company's long-term strategic objectives. 2. Key Components of the Suffolk New York Senior Executive Management Incentive Plan: a) Performance-Based Compensation: The plan offers a competitive compensation structure based on the attainment of predefined performance targets. These targets are directly linked to the company's financial and operational success, ensuring executives have a vested interest in driving growth and profitability. b) Annual Performance Evaluation: Executive performance is regularly evaluated by assessing individual and team contributions towards meeting targets. Rigorous performance evaluations ensure that rewards are allocated fairly and transparently. c) Long-Term Incentives: The plan may include long-term incentives, such as stock options, restricted stock units, or performance shares, to encourage executives' focus on the organization's sustained growth and shareholder value. d) Retention Provisions: The Suffolk New York Senior Executive Management Incentive Plan may include provisions to retain high-performing executives over a specified period. These provisions could range from cash retention bonuses to deferred compensation arrangements based on longevity or milestones achieved. 3. Attachments to the Suffolk New York Senior Executive Management Incentive Plan: a) Plan Document: A detailed plan document outlining the structure, eligibility criteria, performance evaluation methodology, and terms and conditions of the incentive plan. b) Performance Goals: An attachment listing the specific performance targets or metrics against which executives' performance will be assessed, such as revenue growth, cost reduction, market share expansion, or customer satisfaction rates. c) Compensation Schedule: A breakdown of how executive compensation is tied to performance targets, including formulas or grids illustrating payout scenarios based on different levels of performance. d) Long-Term Incentive Plan Details: If long-term incentives are offered, separate attachments outlining the terms and conditions, vesting schedules, and valuation methods for stock options or restricted stock units. e) Retention Provisions: If retention provisions are included, an attachment covering details on the eligibility requirements, payout structure, and conditions triggering the retention benefits. *Note: If there are different variations or types of Suffolk New York Senior Executive Management Incentive Plans for The Leon Co., specify their names or descriptions to provide a more tailored description of the plan.