The plan pays +5% or -5% of an individuals Short-Term Incentive Plan (STIP) payout based on performance relative to an individual
Each employee will have an annual individual performance metric and target. If
the employee achieves their performance target as of fiscal year-end, the employee will receive an additional 5% of their annual STIP bonus payout. If the employee does not achieve their performance target as of fiscal year-end, the employee will
receive a 5% reduction to their annual STIP bonus payout.
In the following situations,
the CEO has authority to change a -5% multiplier to 0 (in which case the standard STIP payout applies):
If performance is 95% of target or greater, or
occurred outside of the control of the individual which makes target unachievable.