American Standard Companies Inc. 2005-2007 Long-Term and 2005 Annual Incentive Plan Goals for Officers

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the 2005 annual and 2005-2007 long-term incentive goals for officers of American Standard Companies Inc. The annual incentive pool is based on 1.5% of 2005 segment income, while the long-term pool is based on 2.0% of 2007 segment income. The CEO receives 20% of each pool, with the remainder divided equally among other officers. The Management Development and Compensation Committee may reduce individual awards, which are capped at $3 million for annual and $4.5 million for long-term incentives.

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EX-10.34 9 y05995exv10w34.htm EX-10.34 2005-2007 LONG-TERM INCENTIVE PLAN & 2005 ANNUAL INCENTIVE PLAN GOALS EX-10.34  

Exhibit 10.34

AMERICAN STANDARD COMPANIES INC.
MANAGEMENT DEVELOPMENT AND COMPENSATION COMMITTEE
February 2, 2005

Annual and Long Term Incentive Goals for Officers

2005 Incentive Goals

•   1.5% of 2005 segment income will determine the 2005 annual incentive pool for Officers.

•   2.0% of 2007 segment income will determine the 2005-2007 long-term incentive pool for Officers.

•   Allocation of awards:

  •   Each incentive pool will be allocated 20% to the CEO and the remainder divided equally among the other Officers.
 
  •   The Committee will apply negative discretion to each allocation to determine the final individual annual and long-term incentive awards for Officers.
 
  •   Individual awards are limited by Omnibus Plan incentive plan maximums of $3.0M for AIP awards and $4.5M for LTIP awards.