2020 Annual Incentive Compensation Plan Metrics Approval by Compensation Committee

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

The Compensation Committee of the company's Board of Directors approved the performance goals and business criteria for the 2020 Annual Incentive Compensation Plan, which applies to participants including executive officers. Awards under the plan will be based on the company's performance in four areas: Adjusted Free Cash Flow (50%), Adjusted EBIT (20%), Revenue (10%), and Quality (20%). Depending on how the company performs against these targets, participants may earn between 0% and 200% of their target cash award.

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EX-10.1 2 f03312020exhibit101.htm EXHIBIT 10.1 Exhibit


Exhibit 10.1


Annual Incentive Compensation Plan Metrics for 2020


On December 11, 2019, the Compensation Committee of the Board of Directors of the Company approved the specific performance goals and business criteria to be used for purposes of determining any future cash awards for 2020 participants, including executive officers, under the Company's Annual Incentive Compensation Plan (filed as Exhibit 10-O-2 to our Annual Report on Form 10-K for the year ended December 31, 2017. The Corporate performance criteria and weightings to be used for 2020 under the plan include attaining specified levels of:

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Company Adjusted Free Cash Flow (50%)

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Company Adjusted EBIT (20%)

•
Company Revenue (10%)

•
Quality (20%)

Based on business performance results for 2020 against the targeted levels established for each metric, the Compensation Committee will determine the percentage of the target award that is earned, which could range between 0% and 200% depending on actual performance achieved relative to the target levels.