Structuring an incentive plan involves careful planning and consideration of various factors. Here’s a general framework to help you structure an effective incentive plan:

1. Define the Objective
2. Set Clear and Measurable Goals
3. Determine Performance Metrics
4. Define Reward Structure
5. Establish Performance Thresholds and Targets
6. Establish a Clear Payout Formula
7. Communicate the Plan
8. Monitor and Evaluate
9. Provide Timely and Constructive Feedback
10. Review and Improve