Mecklenburg North Carolina Compensation Program for Officers and Certain Key Management Personnel with attachments

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Mecklenburg
• 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) The Mecklenburg North Carolina Compensation Program for Officers and Certain Key Management Personnel is a comprehensive framework designed to outline the compensation structure and benefits offered to individuals serving in key leadership roles within the Mecklenburg County government. This program aims to attract and retain highly skilled professionals who play a crucial role in the effective governance and management of the county. Under this compensation program, officers and certain key management personnel are eligible for a competitive salary that aligns with market standards and recognizes their expertise and responsibilities. The program takes into account factors such as job complexity, size of the jurisdiction, educational requirements, experience, and performance evaluations. In addition to base salary, the program may include various forms of compensation, such as performance-based incentives, bonuses, and allowances. These additional benefits encourage officers and key management personnel to excel in their roles and motivate them to achieve superior performance. The Mecklenburg North Carolina Compensation Program prioritizes transparency and fairness. It is regularly reviewed and updated to comply with relevant laws and regulations, ensuring that the compensation offered remains competitive and equitable. The program also takes into consideration the financial resources of the county to ensure sustainability and responsible use of tax dollars. Attachments: 1. Compensation Program Guidelines: This document provides a detailed overview of the Mecklenburg North Carolina Compensation Program, outlining the key components and principles. 2. Salary Scale Matrix: A comprehensive table displaying the salary grades and corresponding salary ranges for officers and key management personnel based on job titles and levels of responsibility. 3. Performance Evaluation Criteria: This attachment elaborates on the performance evaluation process, outlining the criteria used to assess the performance of officers and key management personnel. 4. Incentive and Bonus Policy: This document outlines the criteria, eligibility requirements, and procedures for granting performance-based incentives and bonuses. 5. Allowance Structure: An overview of the various allowances offered to officers and key management personnel, including housing allowance, relocation assistance, and education assistance. Different types of Mecklenburg North Carolina Compensation Programs for Officers and Certain Key Management Personnel may include: — Law Enforcement Compensation Program: Specifically tailored to officers within the law enforcement agencies of Mecklenburg County, encompassing additional benefits and incentives relating to their specialized roles and responsibilities. — Executive Management Compensation Program: Designed for top-level executives and managers within Mecklenburg County government, providing a more intricate and comprehensive compensation package that reflects their substantial responsibilities and strategic decision-making roles. Keywords: Mecklenburg North Carolina, Compensation Program, Officers, Key Management Personnel, competitive salary, benefits, performance-based incentives, bonuses, allowances, transparency, fairness, guidelines, salary scale matrix, performance evaluation criteria, incentive policy, bonus policy, allowance structure, law enforcement compensation program, executive management compensation program.

The Mecklenburg North Carolina Compensation Program for Officers and Certain Key Management Personnel is a comprehensive framework designed to outline the compensation structure and benefits offered to individuals serving in key leadership roles within the Mecklenburg County government. This program aims to attract and retain highly skilled professionals who play a crucial role in the effective governance and management of the county. Under this compensation program, officers and certain key management personnel are eligible for a competitive salary that aligns with market standards and recognizes their expertise and responsibilities. The program takes into account factors such as job complexity, size of the jurisdiction, educational requirements, experience, and performance evaluations. In addition to base salary, the program may include various forms of compensation, such as performance-based incentives, bonuses, and allowances. These additional benefits encourage officers and key management personnel to excel in their roles and motivate them to achieve superior performance. The Mecklenburg North Carolina Compensation Program prioritizes transparency and fairness. It is regularly reviewed and updated to comply with relevant laws and regulations, ensuring that the compensation offered remains competitive and equitable. The program also takes into consideration the financial resources of the county to ensure sustainability and responsible use of tax dollars. Attachments: 1. Compensation Program Guidelines: This document provides a detailed overview of the Mecklenburg North Carolina Compensation Program, outlining the key components and principles. 2. Salary Scale Matrix: A comprehensive table displaying the salary grades and corresponding salary ranges for officers and key management personnel based on job titles and levels of responsibility. 3. Performance Evaluation Criteria: This attachment elaborates on the performance evaluation process, outlining the criteria used to assess the performance of officers and key management personnel. 4. Incentive and Bonus Policy: This document outlines the criteria, eligibility requirements, and procedures for granting performance-based incentives and bonuses. 5. Allowance Structure: An overview of the various allowances offered to officers and key management personnel, including housing allowance, relocation assistance, and education assistance. Different types of Mecklenburg North Carolina Compensation Programs for Officers and Certain Key Management Personnel may include: — Law Enforcement Compensation Program: Specifically tailored to officers within the law enforcement agencies of Mecklenburg County, encompassing additional benefits and incentives relating to their specialized roles and responsibilities. — Executive Management Compensation Program: Designed for top-level executives and managers within Mecklenburg County government, providing a more intricate and comprehensive compensation package that reflects their substantial responsibilities and strategic decision-making roles. Keywords: Mecklenburg North Carolina, Compensation Program, Officers, Key Management Personnel, competitive salary, benefits, performance-based incentives, bonuses, allowances, transparency, fairness, guidelines, salary scale matrix, performance evaluation criteria, incentive policy, bonus policy, allowance structure, law enforcement compensation program, executive management compensation program.