Massachusetts 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 Massachusetts Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and retain key executives and employees through various incentivizing mechanisms. This plan is specifically tailored for the employees working in Massachusetts. Under this plan, A.M. Castle and Co. offers its employees long-term incentives in addition to their regular compensation and benefits package. These incentives are designed to align employee interests with the long-term success of the company, motivating them to contribute towards achieving the organization's goals. The Massachusetts Long Term Incentive Compensation Plan may consist of several components, each aimed at different aspects of employee performance and retention. These components typically include: 1. Stock Options: Employees may be granted stock options that entitle them to purchase company stocks at a specified price within a specified period. This encourages employees to stay with the company and actively work towards increasing its value. 2. Restricted Stock Units (RSS): RSS are another form of equity compensation where employees are granted shares of the company's stock, subject to certain restrictions and vesting periods. RSS offer employees a tangible stake in the company's success, fostering a sense of ownership and motivation to drive long-term growth. 3. Performance Shares: Performance shares are awarded to employees based on preset performance criteria, such as financial targets or strategic milestones. These shares usually vest over a specified period, stimulating employees to go the extra mile in achieving organizational objectives. 4. Cash Bonuses: The Massachusetts Long Term Incentive Compensation Plan may also include cash bonuses tied to individual or company-wide performance targets. These bonuses provide immediate rewards for outstanding performance, while still aligning employee efforts with long-term success. 5. Phantom Stock: In some cases, employees may be eligible for phantom stock awards, where they are granted units that mimic the value of actual company shares. These units may be redeemed for cash at a future date, based on the company's performance. It's important to note that the specific components and structure of the Massachusetts Long Term Incentive Compensation Plan may vary depending on individual agreements and the company's overall compensation philosophy. However, by implementing a comprehensive plan that merges financial rewards and performance-based criteria, A.M. Castle and Co. demonstrates its commitment to attracting, motivating, and retaining top talent in Massachusetts.

The Massachusetts Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and retain key executives and employees through various incentivizing mechanisms. This plan is specifically tailored for the employees working in Massachusetts. Under this plan, A.M. Castle and Co. offers its employees long-term incentives in addition to their regular compensation and benefits package. These incentives are designed to align employee interests with the long-term success of the company, motivating them to contribute towards achieving the organization's goals. The Massachusetts Long Term Incentive Compensation Plan may consist of several components, each aimed at different aspects of employee performance and retention. These components typically include: 1. Stock Options: Employees may be granted stock options that entitle them to purchase company stocks at a specified price within a specified period. This encourages employees to stay with the company and actively work towards increasing its value. 2. Restricted Stock Units (RSS): RSS are another form of equity compensation where employees are granted shares of the company's stock, subject to certain restrictions and vesting periods. RSS offer employees a tangible stake in the company's success, fostering a sense of ownership and motivation to drive long-term growth. 3. Performance Shares: Performance shares are awarded to employees based on preset performance criteria, such as financial targets or strategic milestones. These shares usually vest over a specified period, stimulating employees to go the extra mile in achieving organizational objectives. 4. Cash Bonuses: The Massachusetts Long Term Incentive Compensation Plan may also include cash bonuses tied to individual or company-wide performance targets. These bonuses provide immediate rewards for outstanding performance, while still aligning employee efforts with long-term success. 5. Phantom Stock: In some cases, employees may be eligible for phantom stock awards, where they are granted units that mimic the value of actual company shares. These units may be redeemed for cash at a future date, based on the company's performance. It's important to note that the specific components and structure of the Massachusetts Long Term Incentive Compensation Plan may vary depending on individual agreements and the company's overall compensation philosophy. However, by implementing a comprehensive plan that merges financial rewards and performance-based criteria, A.M. Castle and Co. demonstrates its commitment to attracting, motivating, and retaining top talent in Massachusetts.