Vermont Senior Executive Management Incentive Plan with attachments for The Geon Co.

State:
Multi-State
Control #:
US-CC-20-234
Format:
Word; 
Rich Text
Instant download

Description

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
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  • Preview Senior Executive Management Incentive Plan with attachments for The Geon Co.
  • Preview Senior Executive Management Incentive Plan with attachments for The Geon Co.
  • Preview Senior Executive Management Incentive Plan with attachments for The Geon Co.
  • Preview Senior Executive Management Incentive Plan with attachments for The Geon Co.
  • Preview Senior Executive Management Incentive Plan with attachments for The Geon Co.
  • Preview Senior Executive Management Incentive Plan with attachments for The Geon Co.
  • Preview Senior Executive Management Incentive Plan with attachments for The Geon Co.

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FAQ

The potential payout associated with any Incentive Award under the MIP will be expressed as a percentage of a Participant's annual base salary, and the amount of any such payout shall be contingent upon the degree to which one or more pre-established, objective Company or business unit performance goals have been ...

term incentive plan (LTIP) incentivizes employees to take actions that will maximize shareholder value and promote longterm growth for the organization. In a standard LTIP, the employee, who is normally a senior executive, is required to meet a number of criteria to receive the incentive.

Management Incentive Plan means the Company's bonus program, as implemented by the Company's board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

The Management Incentive Plan (?MIP? or ?the Plan?) is an annual incentive plan designed to reward and incent eligible employees for their role in driving Deluxe's strategy and business results.

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Vermont Senior Executive Management Incentive Plan with attachments for The Geon Co.