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

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Kings
• 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 Kings New York Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and retain high-performing employees of the company. This plan is specifically targeted towards employees based in New York and offers various incentives to motivate and encourage long-term commitment. Under this plan, eligible employees have the opportunity to receive compensation over an extended period of time, which aligns their interests with the long-term success of the company. The plan consists of different types of incentives, ensuring a well-rounded approach to reward and recognition. One type of incentive within the Kings New York Long Term Incentive Compensation Plan is performance-based stock options. These stock options grant eligible employees the right to purchase company shares at a predetermined price. The options typically have a vesting period, which means employees must fulfill certain performance goals or remain with the company for a specified period of time before they can exercise the options. Another component of the plan is restricted stock units (RSS). RSS are granted to eligible employees and represent a promise to deliver company shares in the future, either upon vesting or at a specified date. Like stock options, RSS are subject to certain performance or time-based conditions, ensuring a continued focus on achieving long-term objectives. Additionally, the Kings New York Long Term Incentive Compensation Plan may include cash bonuses linked to the achievement of strategic goals and financial targets. These bonuses are typically tied to the company's performance over an extended period, ensuring that employees are rewarded for their contributions to long-term growth and profitability. To enhance employee retention and loyalty, the plan may also incorporate a long-term cash bonus pool. This pool can be distributed to eligible employees over several years, providing a continuous incentive for individuals to stay with the company and contribute to its success. Overall, the Kings New York Long Term Incentive Compensation Plan of A.M. Castle and Co. emphasizes a comprehensive approach to rewarding and retaining employees in New York. By incorporating various types of incentives, such as performance-based stock options, RSS, cash bonuses, and long-term bonus pools, the company aims to motivate and align employee interests with its long-term goals.

The Kings New York Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and retain high-performing employees of the company. This plan is specifically targeted towards employees based in New York and offers various incentives to motivate and encourage long-term commitment. Under this plan, eligible employees have the opportunity to receive compensation over an extended period of time, which aligns their interests with the long-term success of the company. The plan consists of different types of incentives, ensuring a well-rounded approach to reward and recognition. One type of incentive within the Kings New York Long Term Incentive Compensation Plan is performance-based stock options. These stock options grant eligible employees the right to purchase company shares at a predetermined price. The options typically have a vesting period, which means employees must fulfill certain performance goals or remain with the company for a specified period of time before they can exercise the options. Another component of the plan is restricted stock units (RSS). RSS are granted to eligible employees and represent a promise to deliver company shares in the future, either upon vesting or at a specified date. Like stock options, RSS are subject to certain performance or time-based conditions, ensuring a continued focus on achieving long-term objectives. Additionally, the Kings New York Long Term Incentive Compensation Plan may include cash bonuses linked to the achievement of strategic goals and financial targets. These bonuses are typically tied to the company's performance over an extended period, ensuring that employees are rewarded for their contributions to long-term growth and profitability. To enhance employee retention and loyalty, the plan may also incorporate a long-term cash bonus pool. This pool can be distributed to eligible employees over several years, providing a continuous incentive for individuals to stay with the company and contribute to its success. Overall, the Kings New York Long Term Incentive Compensation Plan of A.M. Castle and Co. emphasizes a comprehensive approach to rewarding and retaining employees in New York. By incorporating various types of incentives, such as performance-based stock options, RSS, cash bonuses, and long-term bonus pools, the company aims to motivate and align employee interests with its long-term goals.