Compensation
Compensation Plan
Damareous Young
University of Phoenix, Plantation, FL
Professor Tanega
HRM531-Online
Week 5
Due: December 8, 2008
Date Submitted: December 8, 2008
Title of Contents
Purpose………………………………………………………………………………3
Effective Date………………………………………………………………………..3
Eligibility and Participation…………...……………………………………………3
Plan Structure……………………………………………………………………….3
Base Salary…………………………………………………………………………..3
Base Salary Breakdown…………………………………………………………….4
2008 InterClean Compensation Plan
CONFIDENTIAL – Any Financial Objectives in this document are strictly Company confidential
Effective 12/8/08
2008 InterClean Sales Compensation Plan (the “Plan”)
I. Plan Purpose
The plan is designed to recognize, motivate and reward employees for their contributions to InterClean meeting its annual sales goals and financial objectives.
II. Effective Date
This plan is effective on January 1, 2008 and will remain in effect until January 1, 2009.unless revoked or modified by the CEO or board of directors.
This plan will not renew annually at the end of the effective period (December 31, 2008). Its continuation is solely based on the discretion of the CEO or board of directors.
III. Who is Eligible
This plan is open to all InterClean employees who are in either a sales or management position. Any employee that works more than 30 hours per week is eligible for this compensation plan.
This will track sales from the first fiscal day in the year to years end and will be calculated based on sales for the fiscal year.
IV. Plan Structure
This plan is made up of two main components that influence individual salary and bonus payout if any: Company Financial Objectives and Personal Objectives. This plan from top management to the entry level sales representative is performance based. Although a base salary is given to everyone performance is key for this compensation program.
The bonus structure is also performance based. What this simply means...
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