2005 Executive Incentive Compensation Plan for [Company Name]

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2005 Executive Incentive Compensation Plan for company executives, as approved by the Compensation Committee. The plan is designed to motivate executives to achieve key financial and team performance goals over two six-month periods in 2005. Bonuses are awarded based on a percentage of base salary and are tied to both corporate and individual objectives, with specific targets set and measured semi-annually. Executives must achieve at least 75% of their objectives in each period to receive any payout. The plan emphasizes teamwork, adaptability, and alignment with corporate priorities.

Read More Arrow
EX-10.1 2 a05-7004_1ex10d1.htm EX-10.1

Exhibit 10.1

 

 

Link to searchable text of slide shown above

 


 

 

Link to searchable text of slide shown above

 


 

 

Link to searchable text of slide shown above

 


 

Searchable text section of graphics shown above

 


 

Proposed
2005 Executive Incentive
Compensation Plan

 

For the 12 months ended December 31, 2005

 

Compensation Committee Meeting

 

February 2, 2005

 

[LOGO]

 

Company Confidential

 


Key 2005 IC Elements

 

•                       Purpose:

•                       Encourage a “sense of urgency” in 2005 performance

•                       Increase importance of semi-annual financial performance

•                       Increase importance of team performance over individual performance

 

•                       Structure:

•                       Bonus-based Incentive Comp as % of Base Salary

•                       Award split between corporate and individual objectives

•                       Objectives set for Jan-Jun and Jul-Dec periods

•                       Measurement and payout for Jan-Jun and Jul-Dec periods

•                       75% minimum CPO achievement required in each period for any payout

 

2


2005 IPO Process

 

•                       IPOs set semi-annually to focus on short-term goal achievement and adaptability to changing business conditions

 

•                       IPOs set through mutual agreement between executive and CEO based on critical tasks required in period to support achievement of corporate objectives for the period

 

•                       Individual IPOs are weighted according to a mutual agreement between executive and CEO regarding priority and value to the organization’s objectives

 

•                       IPOs include both quantitative and qualitative characteristics

 

3