The senior executive incentive plan is designed to provide yearly and long term incentive plans to senior executives. The compensation is defined by the compensation committee. The incentive plans are a combination of money and stock based incentives. The incentives are decided upon personal and corporate performance for each individual. However, the amount spent on incentives may vary depending on the annual returns for the company.
The yearly incentive is based on the performance within the last twelve months. The incentives for the long term take into consideration the performance of the executive from the time of employment to the current day of employment. The percentage of incentives varies depending upon the hierarchy of the company. The CEO of the company gets higher incentives when compared to the incentives that are got by the mid-management of the company. Most senior executive incentive plans are designed to motivate individuals to deliver even better performance.
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