North Carolina 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 North Carolina Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and motivate employees in the state of North Carolina. This plan offers a range of incentives to eligible employees based on their performance, tenure, and contribution to the company's success. One type of the North Carolina Long Term Incentive Compensation Plan offered by A.M. Castle and Co. is the Performance-Based Stock Options program. This program grants eligible employees the opportunity to purchase company stock at a predetermined price over a specified period. The number of stock options available to employees is determined by their performance metrics, such as meeting sales targets or achieving operational goals. This allows employees to directly benefit from the company's growth and success. Another kind of the North Carolina Long Term Incentive Compensation Plan is the Restricted Stock Units (RSS) program. Under this plan, eligible employees are granted a specific number of RSS, which represent shares of company stock. However, these shares are not immediately transferable or sellable. Employees receive ownership rights to the RSS after a vesting period, typically based on predetermined performance goals or length of service. Once vested, employees can sell or transfer the shares at their discretion. This program aims to align employees' interests with the long-term goals of the company and motivates them to contribute to its sustained growth. Additionally, the North Carolina Long Term Incentive Compensation Plan may also include a Cash Bonus program. This program rewards employees with a cash bonus based on their individual or team performance, as well as the company's overall financial performance. The criteria for determining bonuses can include revenue targets, cost savings, customer satisfaction metrics, or other relevant performance indicators. These cash bonuses provide immediate recognition and financial rewards for exceptional performance. In conclusion, the North Carolina Long Term Incentive Compensation Plan of A.M. Castle and Co. encompasses various programs, including Performance-Based Stock Options, Restricted Stock Units, and Cash Bonuses. These plans aim to motivate, retain, and reward employees in North Carolina for their valuable contributions to the company's success. By aligning incentives with performance and long-term goals, A.M. Castle and Co. strives to foster a high-performing and engaged workforce.

The North Carolina Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and motivate employees in the state of North Carolina. This plan offers a range of incentives to eligible employees based on their performance, tenure, and contribution to the company's success. One type of the North Carolina Long Term Incentive Compensation Plan offered by A.M. Castle and Co. is the Performance-Based Stock Options program. This program grants eligible employees the opportunity to purchase company stock at a predetermined price over a specified period. The number of stock options available to employees is determined by their performance metrics, such as meeting sales targets or achieving operational goals. This allows employees to directly benefit from the company's growth and success. Another kind of the North Carolina Long Term Incentive Compensation Plan is the Restricted Stock Units (RSS) program. Under this plan, eligible employees are granted a specific number of RSS, which represent shares of company stock. However, these shares are not immediately transferable or sellable. Employees receive ownership rights to the RSS after a vesting period, typically based on predetermined performance goals or length of service. Once vested, employees can sell or transfer the shares at their discretion. This program aims to align employees' interests with the long-term goals of the company and motivates them to contribute to its sustained growth. Additionally, the North Carolina Long Term Incentive Compensation Plan may also include a Cash Bonus program. This program rewards employees with a cash bonus based on their individual or team performance, as well as the company's overall financial performance. The criteria for determining bonuses can include revenue targets, cost savings, customer satisfaction metrics, or other relevant performance indicators. These cash bonuses provide immediate recognition and financial rewards for exceptional performance. In conclusion, the North Carolina Long Term Incentive Compensation Plan of A.M. Castle and Co. encompasses various programs, including Performance-Based Stock Options, Restricted Stock Units, and Cash Bonuses. These plans aim to motivate, retain, and reward employees in North Carolina for their valuable contributions to the company's success. By aligning incentives with performance and long-term goals, A.M. Castle and Co. strives to foster a high-performing and engaged workforce.