Illinois Proposal to approve Management Incentive Plan for The Geon Co.

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US-CC-20-232-NE
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This sample form, a detailed Proposal to Approve Management Incentive Plan document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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FAQ

Management Incentive Plan (MIP) is a term most commonly used to refer to the scheme over which the ?sweet equity? pool is allocated to senior management in a privately owned business. The company using a MIP will often be owned by a private equity house.

Payout Opportunity A Participant's payout target amount under the Plan is determined by pay grade as follows: The range of incentive opportunity for a Plan Participant is 0% to 200% of the Participant's total value target. This means the maximum payout that a Participant can receive from this Plan is 200%.

MIP (Corporate means the Management Incentive Plan award program for a fiscal year of the Company as applied to Employees whose performance is measured by corporate-level performance of the Company and its subsidiaries, as determined by the Administrator.

Incentive management is the practice of offering incentives like pay, extra time off, or a gift to employees that meet certain benchmarks or perform specific behaviors. A classic example of an incentive program is a system where a sales rep gets extra pay for closing a certain number of deals in a quarter.

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Illinois Proposal to approve Management Incentive Plan for The Geon Co.