Missouri Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-181
• Format: Word; Rich Text

Description

20-181 20-181 . . . Long Term Incentive Compensation Plan under which Human Resources Committee designates employees who will be participants in Plan and establishes Maximum Award Percentage with respect to each participant for each three year performance cycle. Each participant is entitled to a Performance Award if annual compounded total return (based upon stock appreciation and deemed reinvestment of dividends) on corporation common stock for that performance cycle equals or exceeds 1.5% plus annual compounded total return on common stock of Standard & Poor's 500 Industrials for such period. A participant's Performance Award for a performance cycle is amount equal to product of (a) participant's base salary multiplied by (b) his Maximum Award Percentage multiplied by (c) applicable Attainment Percentage for that performance cycle The Missouri Long Term Incentive Compensation Plan of A.M. Castle and Co. is a rewards' system designed to incentivize and reward eligible employees for their long-term commitment, dedication, and performance within the company. This plan aims to attract, retain, and motivate talented individuals by providing them with the opportunity to earn additional compensation based on predetermined performance goals and targets. The plan's structure may vary based on different employee categories or levels within A.M. Castle and Co. The company may outline different types of Long Term Incentive Compensation Plans to suit various employee roles, such as executive-level employees, management personnel, and general employees. Key features of the Missouri Long Term Incentive Compensation Plan include: 1. Performance-Based Awards: Eligible employees have the potential to earn performance-based awards tied to predetermined organizational goals, financial metrics, or individual performance targets. These awards are typically designed to be paid out over a specific timeframe, promoting the cultivation of long-term organizational success. 2. Equity Grant: Some variants of the Long Term Incentive Compensation Plan may include equity grants, allowing employees the opportunity to own a stake in the company. This equity can appreciate over time, creating an additional long-term financial benefit for employees. 3. Vesting Period: To align employee interests with the long-term success of the company, the plan may incorporate a vesting period during which awarded compensation or equity gradually becomes fully owned by the employee. This encourages employee loyalty and encourages them to remain with the company. 4. Performance Evaluation: Performance reviews and evaluations play a crucial role in the determination of incentive payouts. A predetermined evaluation process ensures that awarded compensation is based on individual, team, or company-wide performance. 5. Goal Setting: The plan sets clear and measurable goals, outlining what needs to be achieved for employees to be eligible for incentive compensation. These goals may be based on financial targets, market share growth, profitability, or individual performance metrics. 6. Communication and Transparency: A.M. Castle and Co. ensures open communication and transparency regarding the Missouri Long Term Incentive Compensation Plan. Employees are provided with detailed information about the plan's structure, eligibility criteria, performance targets, and payout schedules through official communications and documentation. It is important to note that the specifics of the Missouri Long Term Incentive Compensation Plan of A.M. Castle and Co., including different plan types, may vary over time as the company's needs, goals, and external environments change.

The Missouri Long Term Incentive Compensation Plan of A.M. Castle and Co. is a rewards' system designed to incentivize and reward eligible employees for their long-term commitment, dedication, and performance within the company. This plan aims to attract, retain, and motivate talented individuals by providing them with the opportunity to earn additional compensation based on predetermined performance goals and targets. The plan's structure may vary based on different employee categories or levels within A.M. Castle and Co. The company may outline different types of Long Term Incentive Compensation Plans to suit various employee roles, such as executive-level employees, management personnel, and general employees. Key features of the Missouri Long Term Incentive Compensation Plan include: 1. Performance-Based Awards: Eligible employees have the potential to earn performance-based awards tied to predetermined organizational goals, financial metrics, or individual performance targets. These awards are typically designed to be paid out over a specific timeframe, promoting the cultivation of long-term organizational success. 2. Equity Grant: Some variants of the Long Term Incentive Compensation Plan may include equity grants, allowing employees the opportunity to own a stake in the company. This equity can appreciate over time, creating an additional long-term financial benefit for employees. 3. Vesting Period: To align employee interests with the long-term success of the company, the plan may incorporate a vesting period during which awarded compensation or equity gradually becomes fully owned by the employee. This encourages employee loyalty and encourages them to remain with the company. 4. Performance Evaluation: Performance reviews and evaluations play a crucial role in the determination of incentive payouts. A predetermined evaluation process ensures that awarded compensation is based on individual, team, or company-wide performance. 5. Goal Setting: The plan sets clear and measurable goals, outlining what needs to be achieved for employees to be eligible for incentive compensation. These goals may be based on financial targets, market share growth, profitability, or individual performance metrics. 6. Communication and Transparency: A.M. Castle and Co. ensures open communication and transparency regarding the Missouri Long Term Incentive Compensation Plan. Employees are provided with detailed information about the plan's structure, eligibility criteria, performance targets, and payout schedules through official communications and documentation. It is important to note that the specifics of the Missouri Long Term Incentive Compensation Plan of A.M. Castle and Co., including different plan types, may vary over time as the company's needs, goals, and external environments change.