Standard Employee Benefit Plan

Published: 2021-07-07 00:16:47
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Category: Human Resource Man

Type of paper: Essay

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The Vice –President of Operations for Blossoms Up! will be responsible for the following tasks in the company:Ensure that technology-component machines are routinely evaluated.Handle all aspects of the business such as planning, purchasing, sales and fulfillment and inventory.Strategic planning, implementation and evaluation of lowering cost. Below is the compensation plan that should be well signed and stamped by both parties.Base SalaryThe base salary of the Vice-President will be 123,000 dollars per year.Annual incentives and BonusesHe/she will receive bonuses as follows per year:Profit sharing- $ 34,000.Bonuses – $ 51,000.Other commissions – $ 53,000.Long-term incentivesFor a good performance within a measurement period of three years and above with actions that have a direct impact on the performance and general success of the organization, the following will be provided:Non-qualified deferred compensation plans.Phantom stock plans.Stock appreciation rights plans.PerquisitesThe vice president will be provided with the following perquisites:A brand new car.Paid meals and lodging.Paid entertainment expenses.Free parking.Vacation.Cellphone and a laptop.Benefits The Executive compensation package will include the following benefits:Supplemental life insurance.Long-term care insurance.Job-related liability insurance.Extra/special vacation day allowances and sabbatical leave of absence.The vice-president will report directly to the CEO and is also required to serve as a member of the Executive team.

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