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
New Jersey Long Term Incentive Compensation Plan of A.M. Castle and Co.
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FAQ
Incentive compensation is a form of variable compensation in which a salesperson's (or other employee's) earnings are directly tied to the amount of product they sell, the success of their team, or the organization's success.
LTI are typically granted with what is known as a vesting period. What this means is that grantees are conditionally granted equity, but they do not actually own it until the vesting period expires.
Long-Term Incentives (LTIs) are a form of variable compensation that is earned in the present but whose payment is deferred and spread over time. This can be cash compensation but often is in the form of stock or stock options.
Bonuses ? like all incentives ? are separate from salary and commissions. They are awarded at the employer's will and decided upon once reps have hit their targets. The primary difference between bonuses vs. incentives is that incentives are decided upon ahead of time, while bonuses are granted after goals are met.
Short-Term Incentive Plan. The objective of an STIP is to reward key employees for their individual contribution for achieving the company's short-term business strategies and goals set by the compensation committee to increase the company's profitability.
Incentive compensation is simply additional money, or rewards of value (i.e. stock), paid to employees based on their performance, and on top of their base salary. The performance measures companies use to structure these comp plans can vary widely.
The objective of incentive compensation is to incentivise individual and/or collective performance, and to recognise and reward this performance.
LTI compensation is Long Term Incentive compensation, a form of variable compensation that an employee earns in the present but which payment comes later and is normally spread out over time.
Every employer has their own qualifications as to how an employee becomes eligible for the LTIP. Generally all employees are eligible to receive the benefits after three to five years as long as they meet the performance goals specified by the company.
Incentives like restricted stock-based packages and cash bonuses ? awarded to employees after reaching certain long-term goals or staying on at the company for specified time frames ? are examples of long-term incentive compensation.