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UPS-ron: MIP vs. Material Definitive Agreement
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<blockquote data-quote="Browncabbage" data-source="post: 132546" data-attributes="member: 6979"><p><span style="font-family: 'Tahoma'">It seems that our "Partnership" does not apply to Grade 20 Management Employees and above. As should be expected with UPS-ron, less than 4 months after forcing another change in the MIP program the "Compensation Committee" and the Casey Foundation found it their hearts and our wallets to SNEAK in this "Material Definitive Agreement". This plan grants the Grade 20's and above a <u><strong>50% to a 250% ANNUAL SALARY BONUS!</strong></u> This "Long-term" incentive will pay out in RSU's and will mature on 12/31/2008 (by my math that is a full 3 years before I will receive 100% of my 2005 MIP). Not to mention, the criteria will not be posted for updates and will be "determined by the Committee in its discretion". If you think I am kidding, check out the attached links. Please pass this information along to as many employees as possible. It is past the time to start asking questions the Management Committee and Ken Lay...oops, I mean Mike Eskew.</span></p></blockquote><p></p>
[QUOTE="Browncabbage, post: 132546, member: 6979"] [FONT=Tahoma]It seems that our "Partnership" does not apply to Grade 20 Management Employees and above. As should be expected with UPS-ron, less than 4 months after forcing another change in the MIP program the "Compensation Committee" and the Casey Foundation found it their hearts and our wallets to SNEAK in this "Material Definitive Agreement". This plan grants the Grade 20's and above a [U][B]50% to a 250% ANNUAL SALARY BONUS![/B][/U] This "Long-term" incentive will pay out in RSU's and will mature on 12/31/2008 (by my math that is a full 3 years before I will receive 100% of my 2005 MIP). Not to mention, the criteria will not be posted for updates and will be "determined by the Committee in its discretion". If you think I am kidding, check out the attached links. Please pass this information along to as many employees as possible. It is past the time to start asking questions the Management Committee and Ken Lay...oops, I mean Mike Eskew.[/FONT] [/QUOTE]
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UPS-ron: MIP vs. Material Definitive Agreement
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