Connecticut 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

Connecticut Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive employee rewards program designed to motivate and retain high-performing individuals within the organization. This plan aims to align the interests of the employees with the long-term success and profitability of the company. The plan offers a range of incentives based on specified goals and milestones that the employees work towards. The Connecticut Long Term Incentive Compensation Plan encompasses various types of incentives to reward employees for their contributions to the company's growth. These include: 1. Stock Options: Eligible employees are granted the opportunity to purchase company stock at a predetermined price, known as the exercise price, within a specified period. This allows employees to benefit from the potential appreciation of the company's stock over time. 2. Restricted Stock Units (RSS): Under this plan, employees are granted a specific number of shares of company stock, which vest over a defined period. Once the vesting period is complete, employees gain ownership rights to the shares. RSS serve as a valuable long-term incentive as employees can benefit from the company's overall performance. 3. Performance Share Units (Plus): Plus are awarded based on predetermined performance goals and metrics. These units have a specific value tied to the company's stock price and are granted to employees upon achieving predefined objectives. Once vested, these units can be converted into company stock. 4. Cash Bonuses: Besides equity-based incentives, the Connecticut Long Term Incentive Compensation Plan may include cash bonuses tied to individual or company-wide performance targets. These bonuses are typically awarded annually, encouraging employees to strive for excellence. 5. Performance Awards: In some cases, certain key employees may be eligible for performance awards, which can include a combination of restricted stock, cash, or other forms of compensation. These awards recognize exceptional contributions that significantly impact the company's performance and growth. Overall, the Connecticut Long Term Incentive Compensation Plan is designed to attract, retain, and motivate talented employees by providing a balanced mix of equity-based rewards and cash incentives. By offering a variety of incentives, A.M. Castle and Co. aims to foster a culture of high performance and align the interests of its employees with the long-term success of the company. Keywords: Connecticut Long Term Incentive Compensation Plan, A.M. Castle and Co., employee rewards program, employee retention, employee motivation, stock options, restricted stock units, RSS, performance share units, Plus, cash bonuses, performance awards, employee contributions, company growth, company stock, long-term success, equity-based rewards, cash incentives, high performance.