Performance!

How do you integrate your ideas on acceptable and exceptional performance into a ownership incentive plan?

I do not have the answer, it is uniquely personal to those transferring ownership.

However, the goals should be achievable, concrete and absolutely must be adhered to by the company/owners!

The magic is to make the goal attainable in the minds of the covered employee(s) at the outset, fair when analyzing in hindsight, yet, make them stretch to reach them, so the business attains a benefit for the bargain, that might or most likely would not be attained by these covered employees, but for the existence of this incentive.