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

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Oakland
• 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 Oakland Michigan Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to attract, retain, and motivate key employees in the company's Oakland, Michigan location. This plan provides various types of incentives and rewards to eligible individuals based on their performance and contribution to the organization's long-term success. The primary objective of the Oakland Michigan Long Term Incentive Compensation Plan is to align the interests of employees with those of the company's shareholders. By offering enticing benefits, the company aims to ensure a strong commitment from employees towards achieving long-term financial goals, improving overall performance, and driving growth in the Oakland location. Under this plan, different types of incentives are provided to eligible employees, depending on their level of employment, job function, and performance within A.M. Castle and Co. Some of these incentive options may include: 1. Stock Options: This type of incentive provides eligible employees with the opportunity to purchase company stock at a predetermined price within a specified timeframe. Stock options offer potential financial gain if the company's stock price rises above the exercise price in the future. 2. Restricted Stock Units (RSS): RSS are another form of equity-based compensation offered to key employees. These units represent a promise to deliver company shares at a designated future date, subject to certain conditions such as continued employment or achievement of predetermined performance targets. 3. Performance Bonuses: The Oakland Michigan Long Term Incentive Compensation Plan may also incorporate performance-based monetary bonuses. These bonuses are tied to specific measurable goals, such as meeting or exceeding sales targets, cost reduction efforts, or operational efficiencies. 4. Long Term Performance Awards: A.M. Castle and Co. may grant long-term performance awards to eligible employees based on the organization's overall performance. These awards are often tied to company-wide goals and may be structured as cash payments, stock grants, or a combination of both. 5. Deferred Compensation: Some variations of the Oakland Michigan Long-Term Incentive Compensation Plan may offer employees the option to defer a portion of their salary or bonuses into a separate account. These deferred amounts can accrue interest or be invested in pre-approved investment options until a future date of withdrawal, such as retirement or specific milestones in one's career. Overall, the Oakland Michigan Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive framework that aims to attract, retain, and reward talented employees in the Oakland, Michigan location. By aligning their interests with the overall success of the organization, the company ensures a motivated workforce committed to achieving long-term growth and prosperity.

The Oakland Michigan Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to attract, retain, and motivate key employees in the company's Oakland, Michigan location. This plan provides various types of incentives and rewards to eligible individuals based on their performance and contribution to the organization's long-term success. The primary objective of the Oakland Michigan Long Term Incentive Compensation Plan is to align the interests of employees with those of the company's shareholders. By offering enticing benefits, the company aims to ensure a strong commitment from employees towards achieving long-term financial goals, improving overall performance, and driving growth in the Oakland location. Under this plan, different types of incentives are provided to eligible employees, depending on their level of employment, job function, and performance within A.M. Castle and Co. Some of these incentive options may include: 1. Stock Options: This type of incentive provides eligible employees with the opportunity to purchase company stock at a predetermined price within a specified timeframe. Stock options offer potential financial gain if the company's stock price rises above the exercise price in the future. 2. Restricted Stock Units (RSS): RSS are another form of equity-based compensation offered to key employees. These units represent a promise to deliver company shares at a designated future date, subject to certain conditions such as continued employment or achievement of predetermined performance targets. 3. Performance Bonuses: The Oakland Michigan Long Term Incentive Compensation Plan may also incorporate performance-based monetary bonuses. These bonuses are tied to specific measurable goals, such as meeting or exceeding sales targets, cost reduction efforts, or operational efficiencies. 4. Long Term Performance Awards: A.M. Castle and Co. may grant long-term performance awards to eligible employees based on the organization's overall performance. These awards are often tied to company-wide goals and may be structured as cash payments, stock grants, or a combination of both. 5. Deferred Compensation: Some variations of the Oakland Michigan Long-Term Incentive Compensation Plan may offer employees the option to defer a portion of their salary or bonuses into a separate account. These deferred amounts can accrue interest or be invested in pre-approved investment options until a future date of withdrawal, such as retirement or specific milestones in one's career. Overall, the Oakland Michigan Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive framework that aims to attract, retain, and reward talented employees in the Oakland, Michigan location. By aligning their interests with the overall success of the organization, the company ensures a motivated workforce committed to achieving long-term growth and prosperity.