Item - 2019.EP8.10

The Board of Governors of Exhibition Place:

1.  Approved the Executive Incentive Pay Grid and Short Term Incentives attached as Appendix B to Confidential Attachment 1, to the report (November 28, 2019) from the Chief Executive Officer, Exhibition Place for implementation in the 2020 Fiscal Year ending December 31, 2020, for its four employees:  the Chief Executive Officer; the Chief Financial Officer and Corporate Secretary; the General Manager, Sales and Event Management Department; and the General Manager, Operations Department.

2.  Directed the Chief Executive Officer to forward a confidential copy of the Executive Incentive Pay Grid and Short Term Incentives attached as Appendix B to Confidential Attachment 1 the report (November 28, 2019) from the Chief Executive Officer, Exhibition Place, to the City Manager.

3.  Directed that Confidential Attachment 1, including Confidential Appendices A and B, to the report (November 28, 2019) from the Chief Executive Officer, Exhibition Place remain confidential in its entirety and not be released publicly as it pertains to personal matters about identifiable individuals.

This report recommends revisions to the Exhibition Place Executive Compensation Plan for its four employees: Chief Executive Officer; Chief Financial Officer and Corporate Secretary; General Manager, Sales and Event Management Department; and General Manager, Operations Department (the "Executive Team Positions").

At its meeting of June 13, 2019 (EP3.24) the Board approved the Executive Incentive Design Framework outlined in the Korn Ferry report. The Board also directed the Chief Executive Officer to report back to the Board no later than December 13, 2019 on the detailed design, application and implications of the implementation of the Executive Incentive Design for the 2020 Fiscal Year ending December 31, 2020. In addition, the Board directed the Chief Executive Officer to forward a confidential copy of the Korn Ferry Incentive Design report attached as Appendix B to Confidential Attachment 1 to the report (May 30, 2019) from the Chief Executive Officer, Exhibition Place, to the City Manager, and to discuss the report with the City Manager and include any feedback in the report requested in Recommendation 2 of the report.

This is the report back to the Board on the detailed design, application and implications of the implementation of the Executive Incentive Design and discussion, comments and feedback from the City Manager's Office.