Creating a Manager Incentive Plan: How Do You Balance Fixed and Variable Components?

Kindly help me prepare the tabular incentive structure for managers, including both fixed and variable components, with target values to be entered in the sheet.

I am working with a property management company, and the management has recently decided to hire a Senior Operations Manager. I am required to develop an incentive plan for them based on the revenue generation for the business they bring to the company. I know that incentive plans vary from company to company, and as I have not dealt with this before, I have no clue how to go about it. I would be thankful if you could share your company's incentive structure or give me guidelines to create one for my company.