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

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Fairfax
• 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 Fairfax Virginia Long Term Incentive Compensation Plan is an employee benefit program offered by A.M. Castle and Co. to its employees in Fairfax, Virginia. This plan is designed to provide long-term incentives and rewards to eligible employees for their commitment and contribution to the company's growth and success. Under the Fairfax Virginia Long Term Incentive Compensation Plan, eligible employees have the opportunity to earn additional compensation and incentives based on predetermined performance goals and metrics. These goals may be aligned with the company's financial targets, market share, customer satisfaction, or other relevant metrics. The plan operates over an extended period, typically spanning multiple years, to encourage employees to focus on the long-term success of the company. It aims to incentivize employees to create sustainable and lasting value by rewarding their efforts and achievements in line with the company's strategic objectives. Different types of the Fairfax Virginia Long Term Incentive Compensation Plan may exist within A.M. Castle and Co., tailored to various employee levels or job roles. These plans may have different eligibility criteria, performance metrics, and reward structures based on the specific needs and objectives of each employee group. Some common features of the Fairfax Virginia Long Term Incentive Compensation Plan may include: 1. Performance-Based Bonuses: Eligible employees may receive bonuses based on meeting or exceeding performance targets set by the company. These bonuses can be paid out annually or at specific milestones throughout the plan period. 2. Stock Options: The plan may offer employees the opportunity to purchase company stock at a predetermined price within a specified period. This aims to align the employees' interests with the company's shareholders, as they benefit from the stock's appreciation over time. 3. Restricted Stock Units (RSS): Instead of stock options, employees may be granted RSS, which represent a promise to provide company stock at a future date based on achieving specific performance goals or time-based vesting. 4. Performance Share Units (Plus): Similar to RSS, Plus grant employees a hypothetical number of shares, which may convert into actual stock based on predetermined performance criteria. 5. Cash Incentives: In addition to equity-based incentives, cash bonuses may be awarded to eligible employees if they meet or exceed certain pre-established performance targets. It is important to note that the specific details, design, and availability of the Fairfax Virginia Long Term Incentive Compensation Plan may vary, depending on the company's policies, industry standards, and legal requirements. Employees are encouraged to refer to the official plan documents and consult with their human resources department for accurate and up-to-date information regarding their eligibility and participation in the plan.

The Fairfax Virginia Long Term Incentive Compensation Plan is an employee benefit program offered by A.M. Castle and Co. to its employees in Fairfax, Virginia. This plan is designed to provide long-term incentives and rewards to eligible employees for their commitment and contribution to the company's growth and success. Under the Fairfax Virginia Long Term Incentive Compensation Plan, eligible employees have the opportunity to earn additional compensation and incentives based on predetermined performance goals and metrics. These goals may be aligned with the company's financial targets, market share, customer satisfaction, or other relevant metrics. The plan operates over an extended period, typically spanning multiple years, to encourage employees to focus on the long-term success of the company. It aims to incentivize employees to create sustainable and lasting value by rewarding their efforts and achievements in line with the company's strategic objectives. Different types of the Fairfax Virginia Long Term Incentive Compensation Plan may exist within A.M. Castle and Co., tailored to various employee levels or job roles. These plans may have different eligibility criteria, performance metrics, and reward structures based on the specific needs and objectives of each employee group. Some common features of the Fairfax Virginia Long Term Incentive Compensation Plan may include: 1. Performance-Based Bonuses: Eligible employees may receive bonuses based on meeting or exceeding performance targets set by the company. These bonuses can be paid out annually or at specific milestones throughout the plan period. 2. Stock Options: The plan may offer employees the opportunity to purchase company stock at a predetermined price within a specified period. This aims to align the employees' interests with the company's shareholders, as they benefit from the stock's appreciation over time. 3. Restricted Stock Units (RSS): Instead of stock options, employees may be granted RSS, which represent a promise to provide company stock at a future date based on achieving specific performance goals or time-based vesting. 4. Performance Share Units (Plus): Similar to RSS, Plus grant employees a hypothetical number of shares, which may convert into actual stock based on predetermined performance criteria. 5. Cash Incentives: In addition to equity-based incentives, cash bonuses may be awarded to eligible employees if they meet or exceed certain pre-established performance targets. It is important to note that the specific details, design, and availability of the Fairfax Virginia Long Term Incentive Compensation Plan may vary, depending on the company's policies, industry standards, and legal requirements. Employees are encouraged to refer to the official plan documents and consult with their human resources department for accurate and up-to-date information regarding their eligibility and participation in the plan.