2013 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 2013 Annual Incentive Compensation Plan, which applies to participants including executive officers. The plan sets specific targets for profit before tax, automotive operating-related cash flow, cost performance, market share, and quality, each with assigned weightings. Awards will be determined based on how actual 2013 business results compare to these targets, with payouts ranging from 0% to 200% of the target award, depending on performance.

Read More Arrow
EX-10.N-4 7 f123112exhibit10-nx4.htm EXHIBIT F 12.31.12 Exhibit 10-N-4


Exhibit 10-N-4



Annual Incentive Compensation Plan Metrics for 2013


On February 13, 2013, 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 2013 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 2013 under the plan include attaining specified levels of:


•
    Profit before tax* (35%),

•
    Automotive operating-related cash flow* (35%),

•
    Cost performance (10%),

•
    Market share (10%), and

•
    Quality (10%).

Based on business performance results for 2013 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