Page 609 - Bruce Ellig - The Complete Guide to Executive Compensation (2007)

Chapter 10. The Board of Directors 595

Director, Employee Executive
Division Board of Share-
Comp & VP HR Comp Comp
Head Directors holders
Benefits Cmte Cmte
January
Allocate divisional

salary budgets
Allocate short-term
incentive funds to
division
Allocate long-term
incentive funds to
division
Review individual
performance
February
Establish short-term

incentive targets
Establish long-term

incentive targets
March
Approve salary

changes
Approve short-term

incentive awards
Approve long-term

incentive awards
Identify competitors
April
Amend short-term

incentive plan
Amend long-term

incentive plan
May
Obtain competitive

data
June
Obtain competitive

data
July
Analyze competitive

data
Table 10-4. Timetable for compensation actions (Continued on next page)