2014 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 2014 performance goals for its Annual Incentive Compensation Plan, which applies to participants including executive officers. The plan sets specific business criteria—such as automotive revenue, operating margin, credit profit, cash flow, and quality—with assigned weightings. Cash awards for 2014 will be determined based on how well these targets are met, with payouts ranging from 0% to 200% of the target amount, depending on performance. Special items are excluded from certain calculations.

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EX-10.O-4 6 f12312013exhibit10-ox4.htm EXHIBIT F 12.31.2013 Exhibit 10-O-4


Exhibit 10-O-4


Annual Incentive Compensation Plan Metrics for 2014


On February 12, 2014, 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 2014 for participants, including executive officers, under the Company's shareholder-approved Annual Incentive Compensation Plan (filed as Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2008). The Corporate performance criteria and weightings to be used for 2014 under the plan include attaining specified levels of:

•
Automotive Revenue (20%)

•
Automotive Operating Margin* (30%)

•
Ford Credit Profit Before Tax (10%)

•
Automotive Operating-Related Cash Flow* (20%)

•
Quality (20%)

Based on business performance results for 2014 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.

* Excludes special items