North Dakota 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 Dakota Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward, retain, and motivate top-performing employees in the state of North Dakota. This plan is carefully structured to align the interests of employees with the long-term success of the company while promoting loyalty and helping drive the achievement of strategic objectives. Under this plan, employees have the opportunity to receive compensation beyond their regular salaries through various performance-based incentives. These incentives are directly tied to the company's financial performance and individual contributions over an extended period, encouraging employees to work towards the company's long-term growth and profitability. Key components of the North Dakota Long Term Incentive Compensation Plan include stock options, restricted stock units, performance share units, and cash awards. Each of these components serves a specific purpose in rewarding and retaining high-performing employees. Stock options provide eligible employees with the right to purchase company stock at a predetermined price within a specified timeframe. This allows employees to benefit from potential future increases in the company's stock value, further incentivizing them to contribute to the company's growth. Restricted stock units, on the other hand, grant eligible employees the right to receive company stock at a future date, usually with certain vesting conditions. These units provide a sense of ownership and encourage employees to remain with the company long-term, as they only receive the stock if certain performance or tenure requirements are met. Performance share units award employees based on the achievement of predetermined performance goals. These goals could be based on financial metrics such as revenue growth or earnings per share, or on other strategic objectives determined by the company. Employees receive a specified number of shares based on their performance against these goals. Cash awards, as part of the North Dakota Long Term Incentive Compensation Plan, provide employees with additional monetary compensation based on performance. These awards can be tied to individual, team, or company-wide achievements, encouraging a strong work ethic and collaboration among employees. It is important to note that while the North Dakota Long Term Incentive Compensation Plan is designed with the specific needs and regulations of the state in mind, A.M. Castle and Co. might have other variations of this plan in different states or jurisdictions to comply with local laws and align with the differing needs of their workforce. Overall, the North Dakota Long Term Incentive Compensation Plan of A.M. Castle and Co. is a flexible and comprehensive program that aims to attract, retain, and motivate top talent in North Dakota by providing competitive compensation packages linked to the long-term success of both employees and the company. Through the use of stock options, restricted stock units, performance share units, and cash awards, this plan fosters a culture of performance, ownership, and commitment among employees.

The North Dakota Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward, retain, and motivate top-performing employees in the state of North Dakota. This plan is carefully structured to align the interests of employees with the long-term success of the company while promoting loyalty and helping drive the achievement of strategic objectives. Under this plan, employees have the opportunity to receive compensation beyond their regular salaries through various performance-based incentives. These incentives are directly tied to the company's financial performance and individual contributions over an extended period, encouraging employees to work towards the company's long-term growth and profitability. Key components of the North Dakota Long Term Incentive Compensation Plan include stock options, restricted stock units, performance share units, and cash awards. Each of these components serves a specific purpose in rewarding and retaining high-performing employees. Stock options provide eligible employees with the right to purchase company stock at a predetermined price within a specified timeframe. This allows employees to benefit from potential future increases in the company's stock value, further incentivizing them to contribute to the company's growth. Restricted stock units, on the other hand, grant eligible employees the right to receive company stock at a future date, usually with certain vesting conditions. These units provide a sense of ownership and encourage employees to remain with the company long-term, as they only receive the stock if certain performance or tenure requirements are met. Performance share units award employees based on the achievement of predetermined performance goals. These goals could be based on financial metrics such as revenue growth or earnings per share, or on other strategic objectives determined by the company. Employees receive a specified number of shares based on their performance against these goals. Cash awards, as part of the North Dakota Long Term Incentive Compensation Plan, provide employees with additional monetary compensation based on performance. These awards can be tied to individual, team, or company-wide achievements, encouraging a strong work ethic and collaboration among employees. It is important to note that while the North Dakota Long Term Incentive Compensation Plan is designed with the specific needs and regulations of the state in mind, A.M. Castle and Co. might have other variations of this plan in different states or jurisdictions to comply with local laws and align with the differing needs of their workforce. Overall, the North Dakota Long Term Incentive Compensation Plan of A.M. Castle and Co. is a flexible and comprehensive program that aims to attract, retain, and motivate top talent in North Dakota by providing competitive compensation packages linked to the long-term success of both employees and the company. Through the use of stock options, restricted stock units, performance share units, and cash awards, this plan fosters a culture of performance, ownership, and commitment among employees.