Phoenix Arizona Compensation Program for Officers and Certain Key Management Personnel with attachments

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• City: Phoenix
• 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) Title: Exploring the Phoenix Arizona Compensation Program for Officers and Key Management Personnel — Types and Attachments Keywords: Phoenix Arizona Compensation Program, Officers, Key Management Personnel, Detailed Description, Types, Attachments Introduction: The Phoenix Arizona Compensation Program for Officers and Certain Key Management Personnel is a comprehensive system implemented by the city of Phoenix to provide fair and competitive compensation packages to its officers and key management personnel. This detailed description will shed light on the different types of programs offered and highlight the relevant attachments. 1. Base Salary Program: The Base Salary Program is the foundation of the compensation program, ensuring that officers and certain key management personnel receive a fair and competitive salary based on factors such as experience, position, and market conditions. Attached documents associated with this program include: — Annual salary schedule: This document outlines the salary range for various positions within the organization, specifying minimum, midpoint, and maximum salary levels. 2. Incentive Compensation Program: The Incentive Compensation Program is designed to reward exceptional performance and motivate officers and key management personnel to achieve specific goals and objectives. Attached documents include: — Performance metrics: These attachments detail the specific criteria and key performance indicators (KPIs) that determine if an employee qualifies for incentives. Examples may include achieving crime reduction targets, improving community engagement, or meeting departmental objectives. — Incentive payout structure: This document outlines the formula or methodology used to calculate the incentives based on performance results. 3. Employee Benefits Program: The Employee Benefits Program offers a range of benefits to support the overall well-being of officers and key management personnel. Attachments may include: — Health insurance policies: These attachments provide details on comprehensive health insurance plans, including coverage options, deductibles, and co-payments. — Retirement plans: This document outlines retirement options available to employees, such as defined benefit or contribution plans, along with employer contributions and vesting schedules. 4. Longevity Program: The Longevity Program recognizes and rewards employees for their length of service with the city. Attachments may include: — Longevity pay scale: This document outlines the additional compensation employees receive based on their years of service, typically increasing with each milestone. — Eligibility criteria: These attachments outline the requirements an employee must meet to become eligible for longevity pay, such as a minimum number of years of service. Conclusion: The Phoenix Arizona Compensation Program for Officers and Certain Key Management Personnel encompasses various types of programs that ensure fair compensation, provide incentives, offer attractive employee benefits, and recognize longevity of service. The attached documents further define and support the components of each program, contributing to a comprehensive compensation framework.

Title: Exploring the Phoenix Arizona Compensation Program for Officers and Key Management Personnel — Types and Attachments Keywords: Phoenix Arizona Compensation Program, Officers, Key Management Personnel, Detailed Description, Types, Attachments Introduction: The Phoenix Arizona Compensation Program for Officers and Certain Key Management Personnel is a comprehensive system implemented by the city of Phoenix to provide fair and competitive compensation packages to its officers and key management personnel. This detailed description will shed light on the different types of programs offered and highlight the relevant attachments. 1. Base Salary Program: The Base Salary Program is the foundation of the compensation program, ensuring that officers and certain key management personnel receive a fair and competitive salary based on factors such as experience, position, and market conditions. Attached documents associated with this program include: — Annual salary schedule: This document outlines the salary range for various positions within the organization, specifying minimum, midpoint, and maximum salary levels. 2. Incentive Compensation Program: The Incentive Compensation Program is designed to reward exceptional performance and motivate officers and key management personnel to achieve specific goals and objectives. Attached documents include: — Performance metrics: These attachments detail the specific criteria and key performance indicators (KPIs) that determine if an employee qualifies for incentives. Examples may include achieving crime reduction targets, improving community engagement, or meeting departmental objectives. — Incentive payout structure: This document outlines the formula or methodology used to calculate the incentives based on performance results. 3. Employee Benefits Program: The Employee Benefits Program offers a range of benefits to support the overall well-being of officers and key management personnel. Attachments may include: — Health insurance policies: These attachments provide details on comprehensive health insurance plans, including coverage options, deductibles, and co-payments. — Retirement plans: This document outlines retirement options available to employees, such as defined benefit or contribution plans, along with employer contributions and vesting schedules. 4. Longevity Program: The Longevity Program recognizes and rewards employees for their length of service with the city. Attachments may include: — Longevity pay scale: This document outlines the additional compensation employees receive based on their years of service, typically increasing with each milestone. — Eligibility criteria: These attachments outline the requirements an employee must meet to become eligible for longevity pay, such as a minimum number of years of service. Conclusion: The Phoenix Arizona Compensation Program for Officers and Certain Key Management Personnel encompasses various types of programs that ensure fair compensation, provide incentives, offer attractive employee benefits, and recognize longevity of service. The attached documents further define and support the components of each program, contributing to a comprehensive compensation framework.