20-234 20-234 . . . Senior Executive Management Incentive Plan which is similar to corporation's existing annual bonus program except for changes necessary to cause incentive compensation to qualify as performance-based compensation under Section 162(m) of Internal Revenue Code. Under Plan, (a) key executives who have potential to influence significantly and positively the performance of corporation are selected by Committee, (b) participants are assigned to an incentive category based on organizational level and potential impact on corporation results, (c) participant categories define level of incentive opportunity, stated as a percentage (up to maximum of 200%) of base salary, that will be available to participant (Incentive Percentage), and (d) Committee uses measures of corporation performance to determine performance goal target levels. Performance measures include one or more of following: (i) return to stockholders, (ii) cash flow, (iii) return on equity, (iv) corporation created income, (v) sales growth, (vi) earnings and earnings growth, (vii) return on assets, (viii) stock price, (ix) earnings per share, (x) market share, (xi) customer satisfaction, and (xii) safety and/or environmental performance. Selected performance measures are weighted by Committee each year to reflect their relative importance to corporation in that Plan Year. A portion of each participant's award, as determined by Committee, is paid in form of restricted stock. Participants can elect additional optional deferrals so that they may receive up to 100% of their award as restricted stock. Any award paid as restricted stock is enhanced with a 25% premium; i.e., for every $100 deferred, participant will receive $125 in restricted stock
Kentucky Senior Executive Management Incentive Plan with attachments for The Geon Co.
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What is an incentive plan? Incentive plans are a type of employee compensation structure that uses certain rewards to motivate team members to work harder and achieve specific goals. This type of compensation goes beyond the paycheck and benefits that all employees should receive for the hours they work.
Executive bonus plans are often popular with top-level employees, but they also provide benefits to your company. In some cases, they can be a more tax-efficient way to reward top talent. They give employees additional compensation with a lower current cost to the employer than some other types of benefits.
Legacy Incentive Compensation means all Incentive Compensation to the extent such Incentive Compensation is attributable to payments under the LBHI Participation Agreement.
An equity incentive program offers an employee shares of the company they work for. Shares can be awarded through stock options, stocks, warrants, or bonds.
Incentive pay is a variable form of compensation. It's a merit-based compensation awarded outside guaranteed hourly or salary wages directly tied to achieving performance goals, objectives, or milestones. Incentive pay is a type of compensation that provides employees extra motivation to meet or exceed specific goals.
Incentive compensation management is the strategic use of incentives to drive better business outcomes and more closely align sales rep behavior with the organization's goals. Incentives can be structured in multiple ways, including straight commissions, bonuses, prizes, ?spiffs,? awards, and recognition.