Broking giant Willis Towers Watson has altered its 2020 short-term incentive (STI) compensation programme for executive officers of the Irish-domiciled enterprise, without changing the general principles applicable to the STI plan for the company’s wider employee base.
In a Form 8-K filing with the US Securities and Exchange Commission, Willis Towers Watson noted: “These changes to the executive officer STI programme’s methodology were made so that the overall funding percentage for that STI programme (as a percentage of target) would be closer to the funding percentage for short-term incentive awards made to a broader group of employees eligible for such awards and so that executive officers from different business units would be more closely aligned, thereby promoting an even more unifying, team mindset that is intended to help the company manage the economic uncertainty created by the COVID-19 pandemic.”
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