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 In accordance with Grede's Guiding Principles and Company Objectives, the Company has a total compensation plan that includes base salaries/wages and performance incentives. Base salaries/wages are designed to maintain a standard of living commensurate with duties and responsibilities within geographic and industry norms. They are internally equitable by reflecting individual performance objectively measured against established standards, as well as externally competitive based on information developed from companies of a similar size, orientation, and location. Performance incentives are designed as provisional compensation, rather than as a guaranteed portion of total compensation, to motivate the achievement of short-term and long-term standards and objectives. Thresholds for Company and individual performance are established in advance well above minimally acceptable results. Graduated target awards are earned for performance that meets or exceeds expectations and maximum awards are earned for exceptionally outstanding performance that far exceeds expectations. Incentive opportunities may vary based on location and job. |
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