Wake North Carolina Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Wake
• 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 Wake North Carolina Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and retain key employees for their long-term commitment and contribution to the company's growth and success. This plan is specifically tailored for employees based in Wake, North Carolina and is a vital component of the company's overall compensation strategy. Key Features: 1. Performance-based Incentives: The Wake North Carolina Long Term Incentive Compensation Plan includes various performance-based incentives that are linked to individual, team, and company-wide goals and targets. These incentives may be tied to financial metrics, such as revenue growth or earnings per share, or operational metrics like customer satisfaction and quality control. 2. Equity-based Participation: In addition to performance-based incentives, eligible participants in the plan may also receive equity-based compensation, typically in the form of stock options, restricted stock units (RSS), or phantom stock awards. These equity awards provide employees with an opportunity to share in the company's success and align their interests with those of the shareholders. 3. Vesting and Cliff Periods: The plan incorporates specific vesting schedules that dictate when employees can exercise their equity awards or receive the full payout of performance-based incentives. Vesting periods encourage long-term commitment and retention, ensuring that participants remain engaged and focused on achieving the company's objectives. The plan also includes a cliff period, during which the awards may be forfeited if certain conditions are not met. 4. Retention Measures: To promote employee retention and discourage voluntary attrition, the Wake North Carolina Long Term Incentive Compensation Plan may include additional retention measures. These measures can be in the form of cash retention bonuses or additional equity grants that vest over an extended period, incentivizing employees to stay with the company for a specified duration. Different Types of Plans: 1. Executive Long Term Incentive Compensation Plan: This plan is specifically designed for senior executives and top-level management within A.M. Castle and Co. It generally includes higher levels of incentives and equity-based compensation to incentivize and reward key decision-makers. 2. Employee Stock Ownership Plan: This plan focuses predominantly on the distribution of company stock to eligible employees. It aims to foster a sense of ownership and align the interests of the employees with those of the company, enhancing employee motivation, and long-term commitment. 3. Cash Bonus Plan: In addition to equity-based compensation, A.M. Castle and Co. may have a separate cash bonus plan that provides eligible employees with annual or periodic cash bonuses based on their individual or team performance. The Wake North Carolina Long Term Incentive Compensation Plan is a crucial tool for attracting, retaining, and motivating talented employees in Wake, North Carolina, providing them with an opportunity to share in the company's success while aligning their efforts with organizational objectives.

The Wake North Carolina Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and retain key employees for their long-term commitment and contribution to the company's growth and success. This plan is specifically tailored for employees based in Wake, North Carolina and is a vital component of the company's overall compensation strategy. Key Features: 1. Performance-based Incentives: The Wake North Carolina Long Term Incentive Compensation Plan includes various performance-based incentives that are linked to individual, team, and company-wide goals and targets. These incentives may be tied to financial metrics, such as revenue growth or earnings per share, or operational metrics like customer satisfaction and quality control. 2. Equity-based Participation: In addition to performance-based incentives, eligible participants in the plan may also receive equity-based compensation, typically in the form of stock options, restricted stock units (RSS), or phantom stock awards. These equity awards provide employees with an opportunity to share in the company's success and align their interests with those of the shareholders. 3. Vesting and Cliff Periods: The plan incorporates specific vesting schedules that dictate when employees can exercise their equity awards or receive the full payout of performance-based incentives. Vesting periods encourage long-term commitment and retention, ensuring that participants remain engaged and focused on achieving the company's objectives. The plan also includes a cliff period, during which the awards may be forfeited if certain conditions are not met. 4. Retention Measures: To promote employee retention and discourage voluntary attrition, the Wake North Carolina Long Term Incentive Compensation Plan may include additional retention measures. These measures can be in the form of cash retention bonuses or additional equity grants that vest over an extended period, incentivizing employees to stay with the company for a specified duration. Different Types of Plans: 1. Executive Long Term Incentive Compensation Plan: This plan is specifically designed for senior executives and top-level management within A.M. Castle and Co. It generally includes higher levels of incentives and equity-based compensation to incentivize and reward key decision-makers. 2. Employee Stock Ownership Plan: This plan focuses predominantly on the distribution of company stock to eligible employees. It aims to foster a sense of ownership and align the interests of the employees with those of the company, enhancing employee motivation, and long-term commitment. 3. Cash Bonus Plan: In addition to equity-based compensation, A.M. Castle and Co. may have a separate cash bonus plan that provides eligible employees with annual or periodic cash bonuses based on their individual or team performance. The Wake North Carolina Long Term Incentive Compensation Plan is a crucial tool for attracting, retaining, and motivating talented employees in Wake, North Carolina, providing them with an opportunity to share in the company's success while aligning their efforts with organizational objectives.