Washington 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 Washington Long Term Incentive Compensation Plan offered by A.M. Castle and Co. is designed to provide long-term incentives and rewards to its employees. This plan is specifically tailored for employees based in the state of Washington. This compensation plan aims to motivate and retain talented individuals by offering attractive incentives that align with the company's long-term goals. By incorporating both financial and non-financial rewards, the plan seeks to create a harmonious balance between employee satisfaction and organizational success. Under the Washington Long Term Incentive Compensation Plan, employees may be entitled to various types of incentives based on their performance, tenure, and contribution to the company. These may include: 1. Equity-based Incentive Grants: Employees may receive stock options, restricted stock units (RSS), or performance-based shares. This allows them to become partial owners of the company and benefit from its growth. 2. Cash-based Performance Awards: Certain employees may be eligible for cash bonuses linked to individual, team, or company performance metrics. These awards are typically granted over a multi-year period to foster long-term focus and commitment. 3. Performance Share Units (Plus): An employee's performance can be assessed based on predetermined metrics, and if the goals are achieved, the individual may be awarded additional shares or cash equivalent. 4. Deferred Compensation: This plan may offer employees the option to defer a portion of their salary or bonus into a separate account, which accrues interest and is paid out over a defined period. 5. Performance Cash Awards: High-performing employees may be recognized with one-time cash bonuses for surpassing specified performance expectations, contributing to the organization's growth. The Washington Long Term Incentive Compensation Plan aims to create a robust framework that ensures the company attracts, engages, and rewards top talent. It recognizes the importance of long-term commitment and alignment with the company's strategic objectives. By implementing this comprehensive compensation plan, A.M. Castle and Co. demonstrates its commitment to nurturing employee growth, enhancing motivation, and ultimately driving the organization's success.

The Washington Long Term Incentive Compensation Plan offered by A.M. Castle and Co. is designed to provide long-term incentives and rewards to its employees. This plan is specifically tailored for employees based in the state of Washington. This compensation plan aims to motivate and retain talented individuals by offering attractive incentives that align with the company's long-term goals. By incorporating both financial and non-financial rewards, the plan seeks to create a harmonious balance between employee satisfaction and organizational success. Under the Washington Long Term Incentive Compensation Plan, employees may be entitled to various types of incentives based on their performance, tenure, and contribution to the company. These may include: 1. Equity-based Incentive Grants: Employees may receive stock options, restricted stock units (RSS), or performance-based shares. This allows them to become partial owners of the company and benefit from its growth. 2. Cash-based Performance Awards: Certain employees may be eligible for cash bonuses linked to individual, team, or company performance metrics. These awards are typically granted over a multi-year period to foster long-term focus and commitment. 3. Performance Share Units (Plus): An employee's performance can be assessed based on predetermined metrics, and if the goals are achieved, the individual may be awarded additional shares or cash equivalent. 4. Deferred Compensation: This plan may offer employees the option to defer a portion of their salary or bonus into a separate account, which accrues interest and is paid out over a defined period. 5. Performance Cash Awards: High-performing employees may be recognized with one-time cash bonuses for surpassing specified performance expectations, contributing to the organization's growth. The Washington Long Term Incentive Compensation Plan aims to create a robust framework that ensures the company attracts, engages, and rewards top talent. It recognizes the importance of long-term commitment and alignment with the company's strategic objectives. By implementing this comprehensive compensation plan, A.M. Castle and Co. demonstrates its commitment to nurturing employee growth, enhancing motivation, and ultimately driving the organization's success.