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Long Term Incentive Compensation Plan of A.M. Castle and Co.

Long Compensation Form

Name: Long Term Incentive Compensation Plan of A.M. Castle and Co.
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.84 (284 reviews)

Category:

Corporations - Public - Incentive Compensation Plans

State:

Multi-State

Control #:

US-CC-20-181

Format:

Instant download

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

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FAQ

A long-term incentive plan (LTIP) is a company policy that rewards employees for reaching specific goals that lead to increased shareholder value. In a typical LTIP, the employee, usually an executive, must fulfill various conditions or requirements.

Most organizations offer cash awards upon achievement of certain performance objectives over a three-year period. There are many other types of long-term incentive compensation available. Extra vacation days, paid sabbaticals, stock appreciation rights and phantom stocks are just a few examples.

Examples of incentive pay include: Cash, including commission, year-end bonuses, sign-on bonuses, and performance bonuses. Shares or company stock options.

These are non-equity-based long-term grants that pay out in cash. The grantee will receive a cash payout after the vesting period. These are cash-based long-term grants that vest based on performance achievement. These are more common at private companies, due to the difficulty of share valuation.

Examples of common short-term incentive pay plans include: Annual incentive plan. A pay plan that rewards the accomplishment of specific results. Rewards usually are tied to expected results identified at the beginning of the performance cycle.

Long-term incentives, or LTI as they're often called, are a valuable part of a total compensation package both for delivering rewards and focusing employees on desired future outcomes and objectives.

Short-term incentives are used to create focus on short-term or immediate goals, and align rewards with individual and business performance. Long-term incentives are typically designed for executives who make strategic decisions for the company.Short-term incentives can be individual and/or team based.

LTI Awards means all long-term incentive awards (other than Stock Rights) granted to Employee by the Company or its subsidiaries under a Long Term Incentive Plan or otherwise that are outstanding immediately prior to the date of Employee's termination of employment.

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