Los Angeles California Compensation Program for Officers and Certain Key Management Personnel with attachments

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Los Angeles
• Control #: US-CC-20-297D
• Format: Word; Rich Text

Description

20-297D 20-297D . . . Compensation Program for Officers and Certain Key Management Personnel which is administered by Chief Executive Officer with approval of Compensation Committee. Participants receive variable compensation tied directly to achievement of key corporate-wide objectives. Participants fall within either Band A, Band B, or Band C depending on nature of their positions and their impact on corporation. Opportunities for variable compensation awards vary depending upon which "Band" participant falls into. Awards can range from 12.5% to 75% of base salaries. Plan provides that awards will not be paid unless earnings, after subtracting variable compensation, are greater than dividends paid in year for which variable compensation is to be awarded. Awards are paid in cash, stock grants and restricted stock (no transferability during first five years after grant and forfeiture of stock upon termination of employment, except for retirement, death or disability, during first years after grant) Los Angeles, California Compensation Program for Officers and Certain Key Management Personnel The Los Angeles, California Compensation Program is a comprehensive system designed to provide fair and competitive compensation packages for Officers and certain Key Management Personnel working in various departments and agencies across the city. This program aims to attract, retain, and motivate highly skilled individuals who are vital to the efficient operation of these organizations. 1. Executive Compensation Program: The Executive Compensation Program focuses on providing competitive and performance-based compensation for top-level executive officers and key management personnel. This program aims to reward their exceptional leadership, strategic decision-making skills, and overall organizational performance. Attachments: — Summary of Executive Compensation Program Guidelines — Compensation Calculation Worksheet for Executive Officers — Performance Evaluation Criteria for Key Management Personnel 2. Public Safety Personnel Compensation Program: The Public Safety Personnel Compensation Program caters to officers and key management personnel serving in public safety departments, including police and fire departments. This program recognizes the critical nature of their roles and the risks associated with ensuring public safety. Attachments: — Overview of Public Safety Personnel Compensation Program — Compensation Matrix for Police and Fire Department Officers — Benefits and Incentives Package for Public Safety Personnel 3. Department-Specific Compensation Programs: Certain departments with unique challenges and requirements may have their own specialized compensation programs. These programs address the specific needs and demands of these departments and aim to attract talent and build a highly skilled workforce. Attachments: — Department-Specific Compensation Program Guidelines — Compensation Framework for Department-Specific Roles — Job Classification and Pay Scale Matrix for Department-Specific Personnel 4. Performance Incentive Programs: To further enhance motivation and performance, the Los Angeles Compensation Program includes various performance incentive initiatives. These programs provide additional financial rewards or benefits to individuals or departments who achieve predefined goals and performance targets. Attachments: — Performance Incentive Program Guidelines — Performance Goals and Incentive Tier— - Performance Tracking and Evaluation Framework The Los Angeles, California Compensation Program for Officers and Certain Key Management Personnel is continually monitored and reviewed to ensure that it remains competitive, equitable, and aligned with the city's overall strategic goals. It is crucial to strike a balance between attracting qualified professionals, retaining experienced personnel, and managing fiscal responsibilities.

Los Angeles, California Compensation Program for Officers and Certain Key Management Personnel The Los Angeles, California Compensation Program is a comprehensive system designed to provide fair and competitive compensation packages for Officers and certain Key Management Personnel working in various departments and agencies across the city. This program aims to attract, retain, and motivate highly skilled individuals who are vital to the efficient operation of these organizations. 1. Executive Compensation Program: The Executive Compensation Program focuses on providing competitive and performance-based compensation for top-level executive officers and key management personnel. This program aims to reward their exceptional leadership, strategic decision-making skills, and overall organizational performance. Attachments: — Summary of Executive Compensation Program Guidelines — Compensation Calculation Worksheet for Executive Officers — Performance Evaluation Criteria for Key Management Personnel 2. Public Safety Personnel Compensation Program: The Public Safety Personnel Compensation Program caters to officers and key management personnel serving in public safety departments, including police and fire departments. This program recognizes the critical nature of their roles and the risks associated with ensuring public safety. Attachments: — Overview of Public Safety Personnel Compensation Program — Compensation Matrix for Police and Fire Department Officers — Benefits and Incentives Package for Public Safety Personnel 3. Department-Specific Compensation Programs: Certain departments with unique challenges and requirements may have their own specialized compensation programs. These programs address the specific needs and demands of these departments and aim to attract talent and build a highly skilled workforce. Attachments: — Department-Specific Compensation Program Guidelines — Compensation Framework for Department-Specific Roles — Job Classification and Pay Scale Matrix for Department-Specific Personnel 4. Performance Incentive Programs: To further enhance motivation and performance, the Los Angeles Compensation Program includes various performance incentive initiatives. These programs provide additional financial rewards or benefits to individuals or departments who achieve predefined goals and performance targets. Attachments: — Performance Incentive Program Guidelines — Performance Goals and Incentive Tier— - Performance Tracking and Evaluation Framework The Los Angeles, California Compensation Program for Officers and Certain Key Management Personnel is continually monitored and reviewed to ensure that it remains competitive, equitable, and aligned with the city's overall strategic goals. It is crucial to strike a balance between attracting qualified professionals, retaining experienced personnel, and managing fiscal responsibilities.