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)
Colorado Compensation Program for Officers and Certain Key Management Personnel with attachments
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Bonuses, Profit Sharing, Merit Pay. Stock Options. Travel/Meal/Housing Allowance. Benefits including: dental, insurance, medical, vacation, leaves, retirement, taxes...
Examples of compensation plans include direct pay and benefits. For example, an hourly employee may receive hourly pay, overtime, medical insurance, and paid time off. A salaried employee might receive a salary, an annual bonus, medical insurance, retirement contribution, and paid time off.
Typically, compensation refers to monetary payment given to an individual in exchange for their services. In the workplace, compensation is what is earned by employees. It includes salary or wages in addition to commission and any incentives or perks that come with the given employee's position.
Examples of compensation plans include direct pay and benefits. For example, an hourly employee may receive hourly pay, overtime, medical insurance, and paid time off. A salaried employee might receive a salary, an annual bonus, medical insurance, retirement contribution, and paid time off.
A compensation system is a framework used by organizations to decide the worth of people's work and other considerations such as promotions or salary increments. It consists of pay grades, job family, administration, and pay ranges.
Direct compensation can be in the form of wages, salaries, commissions and bonuses that an employer provides regularly and consistently. Compensation that isn't considered direct includes benefits, retirement plans, leaves, employee services and education.
Compensation management is the process of managing, analyzing, and determining the salary, incentives, and benefits each employee receives. Compensation management is a crucial part of any talent management and retention strategy.