Nevada 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

A.M. Castle and Co., a prominent company in Nevada, offers a comprehensive Long-Term Incentive Compensation Plan (LT ICP) to reward and retain its employees. The LT ICP is designed to motivate and align the interests of key personnel with the long-term objectives of the company. By utilizing relevant keywords, we can elaborate on the various facets of the Nevada Long Term Incentive Compensation Plan offered by A.M. Castle and Co. 1. Plan Structure: The Nevada LT ICP of A.M. Castle and Co. is characterized by a well-defined and structured framework that outlines the eligibility criteria, performance benchmarks, and compensation components. It includes both monetary and non-monetary incentives to drive employee engagement and enhance long-term commitment. 2. Performance-Based Incentives: The LT ICP incorporates performance-based incentives, emphasizing measurable targets related to individual, team, and organizational goals. These targets contribute to the overall success of the company while ensuring fair and equitable rewards for top-performing employees. 3. Stock Options: The Nevada LT ICP may provide stock options as a key component to motivate and reward employees. Stock options offer the opportunity to purchase company stocks at a predetermined price within a specified time frame, allowing employees to share in the company's success and align their interests with the shareholders. 4. Restricted Stock Units (RSS): A.M. Castle and Co.'s Nevada LT ICP might also include RSS, an alternative to stock options. RSS grant employees a predetermined number of company shares, subject to vesting conditions, typically based on performance targets or years of service. With RSS, employees gain ownership of the shares once vesting conditions are met, offering long-term incentives and fostering loyalty. 5. Performance Share Units (Plus): The LT ICP may incorporate Plus, which are performance-based awards linked to the company's performance over a specific period. Plus are granted to employees based on predetermined performance criteria and vest once the targets are achieved, ensuring employees are directly connected to the organization's success. 6. Cash Incentives: In addition to equity-based rewards, the Nevada LT ICP might include cash incentives based on individual or company performance. These bonuses, tied to predetermined goals, offer immediate recognition and motivation to employees excelling in their roles. 7. Vesting and Cliff Vesting: The LT ICP likely implements vesting schedules to encourage employee retention over the long term. Vesting refers to the gradual acquisition of ownership rights to specific incentives over a specified period. Cliff vesting, on the other hand, grants full ownership rights after a predetermined time, encouraging employee loyalty and commitment. These keywords provide a comprehensive overview of the Nevada Long Term Incentive Compensation Plan of A.M. Castle and Co. while highlighting its key elements and unique features.