Salt Lake Utah Compensation Program for Officers and Certain Key Management Personnel with attachments

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Salt Lake
• 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 Salt Lake Utah Compensation Program for Officers and Certain Key Management Personnel is a comprehensive program designed to provide competitive remuneration packages for individuals holding key positions within the organization. This program aims to attract and retain top talent by offering a combination of competitive base salaries, benefits, and additional incentives. Attachments: 1. Compensation Summary: This attachment outlines the details of the compensation program, including base salary ranges, annual bonus potential, and long-term incentives such as stock awards or options. It provides a comprehensive overview of the overall compensation structure. 2. Performance Evaluation Guidelines: This attachment details the performance evaluation process for officers and key management personnel. It includes performance metrics and criteria used to assess individual and team performance, which directly impact the compensation decisions. 3. Benefits Package: This attachment outlines the comprehensive benefits package available to officers and key management personnel. It includes details about health insurance, retirement plans, vacation allowance, and other perks. This highlights the commitment of the organization to supporting the overall well-being of its employees. 4. Incentive Programs: This attachment specifies additional incentive programs available to motivate and reward officers and key management personnel. It may include profit-sharing plans, performance-based bonuses, and rewards for exceeding predetermined goals. These programs help drive performance and align the interests of the employees with the organization's objectives. Types of Salt Lake Utah Compensation Program: 1. Executive Compensation Program: This program is specifically designed for the organization's top executives, including top-level officers and executive management personnel. It offers highly competitive compensation packages, considering the complex responsibilities and strategic decision-making involved in these roles. 2. Key Management Personnel Compensation Program: This program caters to individuals holding crucial managerial positions that have a significant impact on organizational outcomes. It ensures competitive compensation to attract and retain talented individuals whose contributions are vital to the organization's success. 3. Officer Compensation Program: This program focuses on providing fair and competitive compensation packages to officers across different levels of the organization. It recognizes their expertise, leadership, and decision-making responsibilities, aligning them with the overall strategic vision of the company. By implementing the Salt Lake Utah Compensation Program for Officers and Certain Key Management Personnel, the organization aims to attract, motivate, and retain top talent, fostering a high-performance culture while ensuring internal equity and market competitiveness.

The Salt Lake Utah Compensation Program for Officers and Certain Key Management Personnel is a comprehensive program designed to provide competitive remuneration packages for individuals holding key positions within the organization. This program aims to attract and retain top talent by offering a combination of competitive base salaries, benefits, and additional incentives. Attachments: 1. Compensation Summary: This attachment outlines the details of the compensation program, including base salary ranges, annual bonus potential, and long-term incentives such as stock awards or options. It provides a comprehensive overview of the overall compensation structure. 2. Performance Evaluation Guidelines: This attachment details the performance evaluation process for officers and key management personnel. It includes performance metrics and criteria used to assess individual and team performance, which directly impact the compensation decisions. 3. Benefits Package: This attachment outlines the comprehensive benefits package available to officers and key management personnel. It includes details about health insurance, retirement plans, vacation allowance, and other perks. This highlights the commitment of the organization to supporting the overall well-being of its employees. 4. Incentive Programs: This attachment specifies additional incentive programs available to motivate and reward officers and key management personnel. It may include profit-sharing plans, performance-based bonuses, and rewards for exceeding predetermined goals. These programs help drive performance and align the interests of the employees with the organization's objectives. Types of Salt Lake Utah Compensation Program: 1. Executive Compensation Program: This program is specifically designed for the organization's top executives, including top-level officers and executive management personnel. It offers highly competitive compensation packages, considering the complex responsibilities and strategic decision-making involved in these roles. 2. Key Management Personnel Compensation Program: This program caters to individuals holding crucial managerial positions that have a significant impact on organizational outcomes. It ensures competitive compensation to attract and retain talented individuals whose contributions are vital to the organization's success. 3. Officer Compensation Program: This program focuses on providing fair and competitive compensation packages to officers across different levels of the organization. It recognizes their expertise, leadership, and decision-making responsibilities, aligning them with the overall strategic vision of the company. By implementing the Salt Lake Utah Compensation Program for Officers and Certain Key Management Personnel, the organization aims to attract, motivate, and retain top talent, fostering a high-performance culture while ensuring internal equity and market competitiveness.