New Jersey 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 New Jersey Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive rewards program designed to attract and retain top talent within the company. This plan consists of various types of incentive compensation options, tailored to different levels and roles within the organization. One of the key aspects of the New Jersey Long Term Incentive Compensation Plan is stock-based awards. These awards are granted to eligible employees in the form of stock options, restricted stock units (RSS), or performance-based stock grants. The stock options provide employees with the opportunity to purchase company shares at a predetermined price, typically over a specified period. RSS, on the other hand, grant employees a certain number of company shares upon the achievement of specific performance targets or the completion of a vesting period. Performance-based stock grants are similarly tied to achieving predetermined goals, ensuring employees are rewarded based on their contribution to the company's success. In addition to the stock-based awards, the New Jersey Long Term Incentive Compensation Plan may also include cash-based incentives. These incentives can take the form of cash bonuses, profit-sharing plans, or discretionary awards tied to individual or team performance. Cash bonuses are typically based on predetermined metrics, such as revenue growth, cost savings, or overall company profitability. Profit-sharing plans enable eligible employees to share in the company's financial success by receiving a percentage of its profits. Discretionary awards, on the other hand, are granted at the company's discretion to recognize exceptional contributions or achievements. To ensure the long-term success of employees, the New Jersey Long Term Incentive Compensation Plan may also feature retirement savings options. These options can include a 401(k) plan or an employee stock ownership plan (ESOP), allowing employees to save for their future and capitalize on the company's growth potential. A 401(k) plan enables employees to contribute a portion of their salary to a retirement account, often with matching contributions from the company. Meanwhile, an ESOP provides eligible employees with company shares, creating a sense of ownership and aligning their success with the company's performance. Overall, the New Jersey Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive rewards program that encompasses stock-based awards, cash-based incentives, and retirement savings options. By offering these various types of compensation, the company aims to motivate and retain employees, fostering a culture of high performance and shared success.

The New Jersey Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive rewards program designed to attract and retain top talent within the company. This plan consists of various types of incentive compensation options, tailored to different levels and roles within the organization. One of the key aspects of the New Jersey Long Term Incentive Compensation Plan is stock-based awards. These awards are granted to eligible employees in the form of stock options, restricted stock units (RSS), or performance-based stock grants. The stock options provide employees with the opportunity to purchase company shares at a predetermined price, typically over a specified period. RSS, on the other hand, grant employees a certain number of company shares upon the achievement of specific performance targets or the completion of a vesting period. Performance-based stock grants are similarly tied to achieving predetermined goals, ensuring employees are rewarded based on their contribution to the company's success. In addition to the stock-based awards, the New Jersey Long Term Incentive Compensation Plan may also include cash-based incentives. These incentives can take the form of cash bonuses, profit-sharing plans, or discretionary awards tied to individual or team performance. Cash bonuses are typically based on predetermined metrics, such as revenue growth, cost savings, or overall company profitability. Profit-sharing plans enable eligible employees to share in the company's financial success by receiving a percentage of its profits. Discretionary awards, on the other hand, are granted at the company's discretion to recognize exceptional contributions or achievements. To ensure the long-term success of employees, the New Jersey Long Term Incentive Compensation Plan may also feature retirement savings options. These options can include a 401(k) plan or an employee stock ownership plan (ESOP), allowing employees to save for their future and capitalize on the company's growth potential. A 401(k) plan enables employees to contribute a portion of their salary to a retirement account, often with matching contributions from the company. Meanwhile, an ESOP provides eligible employees with company shares, creating a sense of ownership and aligning their success with the company's performance. Overall, the New Jersey Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive rewards program that encompasses stock-based awards, cash-based incentives, and retirement savings options. By offering these various types of compensation, the company aims to motivate and retain employees, fostering a culture of high performance and shared success.