EX-10.3
from 10-Q
5 pages
Page 1 GATX Corporation Corporate Officers’ Incentive Plan (Coip) Effective: January 1, 2024 1. Objective the Corporate Officers’ Incentive Plan (The “Coip” or “Plan”) Has Been Established for Selected Employees of GATX Corporation (The “Company” or “GATX”) To: Motivate the Collective Achievement of Profitable Company Performance. 2. Plan Year Each Plan Year Will Include a Performance Period Based on a Calendar Year (From January 1 Through December 31), as Well as the Award Determination, Approval and Award Payment. 3. Eligibility to Participate Eligibility to Participate in the Plan Will Be Determined at the Beginning of the Plan Year by Plan Administrators. Participants in the Coip Are All Permanent Exempt Salaried Employees of GATX Who: Receive Notification of Participation in the Coip, Including His or Her Target Incentive Percentage and a Copy of This Plan; Are Corporate Officers; Do Not Participate in Any Other GATX Annual Incentive Plan, Except as Specified Under the Promotion or Transfer Provisions Listed Below. 4. Plan Design Overall Funding of the Plan Will Be Based Upon GATX Performance Against Its Financial Goal. the Actual Incentive Payout Will Be Based Upon the Extent to Which GATX’s Net Income Goal, as Established at the Beginning of the Year, Is Achieved According to a Payout Scale Approved by the Compensation Committee of the Board of Directors of the Company (The “Committee”). Participants Will Earn the Actual Incentive Payout, Assuming Acceptable Performance. in the Event of Unacceptable Performance, the Participant’s Actual Incentive Payout Earned May Be Reduced by Up to 100% as Approved by the Plan Administrators
12/34/56
