Minnesota 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 Minnesota Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive compensation program designed to motivate and reward employees for their long-term contributions to the company's success. This plan specifically caters to employees located in Minnesota and offers various types of incentives to ensure employee retention and encourage optimal performance. One type of Minnesota Long Term Incentive Compensation Plan offered by A.M. Castle and Co. is the stock option plan. Under this program, eligible employees are granted the opportunity to purchase company stock at a predetermined price, known as the exercise price, within a specific time frame. By allowing employees to become shareholders, this plan aligns their interests with the company's overall goals and performance. Another type of Minnesota Long Term Incentive Compensation Plan offered is the restricted stock unit (RSU) plan. With this plan, eligible employees are awarded a specific number of shares of company stock that vest over a set period. The vesting schedule encourages employees to stay with the company and contribute to its long-term success, as they only receive the shares after a certain amount of time has passed. Additionally, the Minnesota Long Term Incentive Compensation Plan may include performance-based incentives. These incentives are designed to reward employees based on the attainment of predefined performance goals, such as revenue growth, cost reduction, or customer satisfaction. By linking compensation directly to performance, this plan motivates employees to strive for excellence and contribute to the overall success of the company. It's important to note that the specific details of the Minnesota Long Term Incentive Compensation Plan offered by A.M. Castle and Co. may vary, as they are subject to the company's internal policies and guidelines. Eligibility requirements, allocation methodologies, and vesting schedules may differ depending on the employee's position, tenure, and performance. In summary, the Minnesota Long Term Incentive Compensation Plan of A.M. Castle and Co. is a multifaceted program designed to reward and motivate employees in Minnesota. Through stock options, restricted stock units, and performance-based incentives, the plan encourages employee retention, aligns their interests with the company's goals, and drives overall performance excellence.

The Minnesota Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive compensation program designed to motivate and reward employees for their long-term contributions to the company's success. This plan specifically caters to employees located in Minnesota and offers various types of incentives to ensure employee retention and encourage optimal performance. One type of Minnesota Long Term Incentive Compensation Plan offered by A.M. Castle and Co. is the stock option plan. Under this program, eligible employees are granted the opportunity to purchase company stock at a predetermined price, known as the exercise price, within a specific time frame. By allowing employees to become shareholders, this plan aligns their interests with the company's overall goals and performance. Another type of Minnesota Long Term Incentive Compensation Plan offered is the restricted stock unit (RSU) plan. With this plan, eligible employees are awarded a specific number of shares of company stock that vest over a set period. The vesting schedule encourages employees to stay with the company and contribute to its long-term success, as they only receive the shares after a certain amount of time has passed. Additionally, the Minnesota Long Term Incentive Compensation Plan may include performance-based incentives. These incentives are designed to reward employees based on the attainment of predefined performance goals, such as revenue growth, cost reduction, or customer satisfaction. By linking compensation directly to performance, this plan motivates employees to strive for excellence and contribute to the overall success of the company. It's important to note that the specific details of the Minnesota Long Term Incentive Compensation Plan offered by A.M. Castle and Co. may vary, as they are subject to the company's internal policies and guidelines. Eligibility requirements, allocation methodologies, and vesting schedules may differ depending on the employee's position, tenure, and performance. In summary, the Minnesota Long Term Incentive Compensation Plan of A.M. Castle and Co. is a multifaceted program designed to reward and motivate employees in Minnesota. Through stock options, restricted stock units, and performance-based incentives, the plan encourages employee retention, aligns their interests with the company's goals, and drives overall performance excellence.