2015 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 2015 Annual Incentive Compensation Plan, which applies to eligible employees, including executive officers. The plan sets specific targets for automotive revenue, operating margin, credit profit, cash flow, and quality, each with assigned weightings. Cash awards for 2015 will be determined based on how actual business performance compares to these targets, with payouts ranging from 0% to 200% of the target award.

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EX-10.O-5 5 f12312014exhibit10-ox5.htm EXHIBIT 10.O-5 F 12.31.2014 Exhibit 10-O-5


Exhibit 10-O-5

Annual Incentive Compensation Plan Metrics for 2015

On February 11, 2015, 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 2015 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 2015 under the plan include attaining specified levels of:

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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 2015 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