Examples of IC Plan in a sentence
The IC Plan authorizes the Board to appropriate to an incentive compensation reserve (the IC Reserve) each year up to 10% of the amount by which the company’s consolidated net earnings exceed 5% of the company’s average consolidated capital investment, each as defined in the IC Plan.
The following sections describe both the general terms of the awards that will be subject to the performance goals and the material features of the plans under which the awards are granted.Annual bonuses and material features of the IC Plan.
Annual bonuses for members of management and other key employees of the company and its affiliates, other than GE Capital Services which currently maintains separate bonus plans appropriate to its business, are determined and paid under the IC Plan.
The MDCC selects employees eligible to participate in the IC Plan, provided that at least one-half of one percent of the total number of employees in the company and its consolidated affiliates must be designated to participate each year.Each year, the MDCC determines the amount of the IC Reserve and the total amount to be paid to participants.
Stock units under the IC Plan are subject to adjustment in the event of a stock split, stock dividend or other change in corporate structure.