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Executive Officer Annual Incentive Compensation Plan

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Title:

Executive Officer Annual Incentive Compensation Plan

Entities:

PPG Industries, Inc.

Date:

2001

Size:

Preview shows 2KB of 13KB total

Price:

$33

ID:

#218631

► Plans ► Compensation ► Incentive ► Misc. Incentive Compensation Plans
► Commodities ► Chemical Manufacturing

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                             PPG Industries, Inc.

             Executive Officer Annual Incentive Compensation Plan



I.   Purpose

     -------



     The purpose of the PPG Industries, Inc. Executive Officer Annual Incentive

Compensation Plan (the "Annual Plan") is to attract and retain highly qualified

employees, to obtain from each the best possible performance, to establish a

performance goal based on Consolidated Earnings for Incentive Compensation

Awards for covered executive officers and to underscore the importance to

employees of increasing consolidated earnings for PPG Industries, Inc.



II.  Definitions

     -----------



     For the purposes of the Annual Plan, the following terms shall have the

following meanings:



     A.    Annual Pool.  The Incentive Compensation Pool established pursuant to

Section IV of the Annual Plan.



     B.   Award Period.  An award period under the Annual Plan shall be the

fiscal year of the Company with respect to Incentive Compensation Awards.



     C.   Board of Directors.  The Board of Directors of PPG Industries, Inc.



     D.   Change of Control.  This term shall have the meaning in Section IX.D

of the Incentive Compensation Plan.



     E.   Committee.  The Officers and Directors Compensation Committee of the

Board of Directors or any successor thereto.



     F.   Company.  PPG Industries, Inc. and its subsidiaries.



     G.   Consolidated Earnings.  Income from continuing operations of the

Company and its consolidated subsidiaries before deduction of income taxes and

minority interest, as shown in the Company's audited annual statement of income,

reduced by the pre-tax amount of non-recurring gains and increased by the

pre-tax amount of non-recurring charges. As such, income from continuing

operations will exclude the effect of extraordinary items, gain or loss on the

disposal of a business segment, and the cumulative effects of changes in

accounting principles, net of related tax effects, as determined in accordance

with generally accepted accounting principles.

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