Maryland 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 Maryland Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive employee benefit package designed to reward and motivate long-term performance and loyalty within the company. This plan offers various types of incentives to eligible employees based on their tenure, performance, and position. One type of Maryland Long Term Incentive Compensation Plan available at A.M. Castle and Co. is the Stock Option Grant. Under this program, eligible employees are granted the right to purchase a specific number of company stocks at a predetermined price. This reward aligns employees' interests with the company's financial success, fostering ownership mentality and encouraging them to contribute to the company's long-term growth. Stock options are typically granted over a specific vesting period and are subject to certain conditions and restrictions. Another component of the Maryland Long Term Incentive Compensation Plan at A.M. Castle and Co. includes Restricted Stock Units (RSS). RSS are typically awarded to key executives and top-performing individuals in the organization. The beneficiaries receive a certain number of RSS that convert into company stock after a predetermined vesting period. These awards motivate and retain high-performing employees, as they have a direct ownership stake in the company's success. RSS often have performance-based requirements, ensuring that recipients meet specific objectives to gain access to the shares. Additionally, the Incentive Bonus Plan is a crucial part of the Maryland Long Term Incentive Compensation Plan at A.M. Castle and Co. It provides eligible employees with performance-based bonuses tied to individual, team, or company-wide goals. These goals may include revenue growth, cost savings, customer satisfaction, or other key performance indicators relevant to the company's success. By aligning employee bonuses with corporate objectives, A.M. Castle and Co. encourages excellence and fosters a high-performance culture. The Maryland Long Term Incentive Compensation Plan also includes a range of Deferred Compensation options. These plans allow employees to defer a portion of their annual compensation, often on a pre-tax basis, for payment at a later date. Deferred compensation provides employees with flexibility and control over their financial future, helping to attract and retain top talent. It also encourages loyalty and long-term commitment to the company, as participation in the program is often subject to specific vesting or stay requirements. In conclusion, the Maryland Long Term Incentive Compensation Plan of A.M. Castle and Co. represents a comprehensive and multi-faceted approach to rewarding employee performance and fostering long-term loyalty. Through stock option grants, restricted stock units, performance-based bonuses, and deferred compensation options, A.M. Castle and Co. aims to create a motivating and supportive work environment that aligns employees' interests with the company's growth and success.

The Maryland Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive employee benefit package designed to reward and motivate long-term performance and loyalty within the company. This plan offers various types of incentives to eligible employees based on their tenure, performance, and position. One type of Maryland Long Term Incentive Compensation Plan available at A.M. Castle and Co. is the Stock Option Grant. Under this program, eligible employees are granted the right to purchase a specific number of company stocks at a predetermined price. This reward aligns employees' interests with the company's financial success, fostering ownership mentality and encouraging them to contribute to the company's long-term growth. Stock options are typically granted over a specific vesting period and are subject to certain conditions and restrictions. Another component of the Maryland Long Term Incentive Compensation Plan at A.M. Castle and Co. includes Restricted Stock Units (RSS). RSS are typically awarded to key executives and top-performing individuals in the organization. The beneficiaries receive a certain number of RSS that convert into company stock after a predetermined vesting period. These awards motivate and retain high-performing employees, as they have a direct ownership stake in the company's success. RSS often have performance-based requirements, ensuring that recipients meet specific objectives to gain access to the shares. Additionally, the Incentive Bonus Plan is a crucial part of the Maryland Long Term Incentive Compensation Plan at A.M. Castle and Co. It provides eligible employees with performance-based bonuses tied to individual, team, or company-wide goals. These goals may include revenue growth, cost savings, customer satisfaction, or other key performance indicators relevant to the company's success. By aligning employee bonuses with corporate objectives, A.M. Castle and Co. encourages excellence and fosters a high-performance culture. The Maryland Long Term Incentive Compensation Plan also includes a range of Deferred Compensation options. These plans allow employees to defer a portion of their annual compensation, often on a pre-tax basis, for payment at a later date. Deferred compensation provides employees with flexibility and control over their financial future, helping to attract and retain top talent. It also encourages loyalty and long-term commitment to the company, as participation in the program is often subject to specific vesting or stay requirements. In conclusion, the Maryland Long Term Incentive Compensation Plan of A.M. Castle and Co. represents a comprehensive and multi-faceted approach to rewarding employee performance and fostering long-term loyalty. Through stock option grants, restricted stock units, performance-based bonuses, and deferred compensation options, A.M. Castle and Co. aims to create a motivating and supportive work environment that aligns employees' interests with the company's growth and success.