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

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Tarrant
• 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 Tarrant Texas Long Term Incentive Compensation Plan, offered by A.M. Castle and Co., is a comprehensive employee benefit program designed to reward and incentivize long-term performance and commitment. This plan aims to attract, retain, and motivate talented employees in Tarrant, Texas by offering competitive compensation packages. One type of the Tarrant Texas Long Term Incentive Compensation Plan is the Performance-Based Stock Options program. This program grants eligible employees the right to purchase company stocks at a predetermined price over a specified period. These stock options are typically granted based on an employee's performance and the company's overall performance. Another type is the Restricted Stock Units (RSS) program. Under this program, eligible employees are granted a specific number of shares of company stock that will vest over a defined period. Once the RSS vest, employees have the right to sell the stocks or hold onto them, depending on their preference. The Tarrant Texas Long Term Incentive Compensation Plan also includes a Performance Share Units (Plus) program. This program awards eligible employees units based on predetermined performance goals and metrics. Once the performance goals are achieved, employees receive a specific number of shares of company stock. Additionally, the plan may incorporate a Cash Bonus Pool program. This program sets aside a pool of money based on the company's performance, which is distributed to eligible employees as cash bonuses. These bonuses are given out based on individual or team performance and can serve as a motivating factor to drive exceptional results. To ensure fairness and align the interests of employees with the company's long-term success, the Tarrant Texas Long Term Incentive Compensation Plan may also include a Clawback Provision. This provision allows the company to recover previously paid incentives from employees if certain performance criteria or ethical standards are not met within a specified timeframe. Overall, the Tarrant Texas Long Term Incentive Compensation Plan of A.M. Castle and Co. aims to attract, retain, and motivate talented employees by offering a comprehensive range of performance-based incentives. By combining stock options, RSS, Plus, and cash bonuses, the company seeks to encourage long-term commitment, drive exceptional performance, and align employee goals with overall company success.

The Tarrant Texas Long Term Incentive Compensation Plan, offered by A.M. Castle and Co., is a comprehensive employee benefit program designed to reward and incentivize long-term performance and commitment. This plan aims to attract, retain, and motivate talented employees in Tarrant, Texas by offering competitive compensation packages. One type of the Tarrant Texas Long Term Incentive Compensation Plan is the Performance-Based Stock Options program. This program grants eligible employees the right to purchase company stocks at a predetermined price over a specified period. These stock options are typically granted based on an employee's performance and the company's overall performance. Another type is the Restricted Stock Units (RSS) program. Under this program, eligible employees are granted a specific number of shares of company stock that will vest over a defined period. Once the RSS vest, employees have the right to sell the stocks or hold onto them, depending on their preference. The Tarrant Texas Long Term Incentive Compensation Plan also includes a Performance Share Units (Plus) program. This program awards eligible employees units based on predetermined performance goals and metrics. Once the performance goals are achieved, employees receive a specific number of shares of company stock. Additionally, the plan may incorporate a Cash Bonus Pool program. This program sets aside a pool of money based on the company's performance, which is distributed to eligible employees as cash bonuses. These bonuses are given out based on individual or team performance and can serve as a motivating factor to drive exceptional results. To ensure fairness and align the interests of employees with the company's long-term success, the Tarrant Texas Long Term Incentive Compensation Plan may also include a Clawback Provision. This provision allows the company to recover previously paid incentives from employees if certain performance criteria or ethical standards are not met within a specified timeframe. Overall, the Tarrant Texas Long Term Incentive Compensation Plan of A.M. Castle and Co. aims to attract, retain, and motivate talented employees by offering a comprehensive range of performance-based incentives. By combining stock options, RSS, Plus, and cash bonuses, the company seeks to encourage long-term commitment, drive exceptional performance, and align employee goals with overall company success.