Document:

exv10w11

Exhibit 10.11

A.M. CASTLE & CO.

RESTRICTED STOCK AWARD AGREEMENT

A.M. CASTLE & CO.

2008 RESTRICTED STOCK, STOCK OPTION

AND EQUITY COMPENSATION PLAN

GRANTEE:

ADDRESS:

SOCIAL SECURITY NUMBER:

NUMBER OF SHARES OF RESTICTED STOCK:

DATE OF GRANT:

     This is an award agreement (the “Award Agreement”) between A.M. Castle & Co., a Maryland
corporation (the “Corporation”) and the individual named above (the “Grantee”). The Corporation
hereby grants to the Grantee an aggregate of the above-stated number of shares of Common Stock of
the Corporation on the terms and conditions contained herein and in the Corporation’s 2008
Restricted Stock, Stock Option and Equity Compensation Plan approved by the shareholders April 24,
2008, as may be amended from time to time (the “Plan”). Capitalized terms used but not otherwise
defined herein shall have the meaning ascribed to them in the Plan.

     1. Vesting of Restricted Stock. Subject to the terms and conditions of this Award
Agreement and the Plan, the Restricted Stock shall vest as follows:

NUMBER OF SHARES:                                   VESTED ON OR AFTER:                     

NUMBER OF SHARES:                                   VESTED ON OR AFTER:                     

NUMBER OF SHARES:                                   VESTED ON OR AFTER:                     

     2. Stock Certificates. Certificates for the Restricted Stock shall be issued by the
Corporation in the name of the Grantee and delivered to the Grantee at the time of grant. The
certificates shall bear the following legend evidencing its restrictive nature as follows:

THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE
SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) CONTAINED IN THE A. M. CASTLE &
CO. 2008 RESTRICTED STOCK AND STOCK OPTION PLAN AND AN AGREEMENT ENTERED INTO BETWEEN THE
REGISTERED OWNER AND A. M. CASTLE & CO. A COPY OF SUCH PLAN AND AGREEMENT IS ON FILE IN THE
OFFICE OF THE SECRETARY OF A. M. CASTLE & CO., 3400 N. WOLF ROAD, FRANKLIN PARK, ILLINOIS
60131.

     3. Effect of Termination of Employment. If the Grantee’s employment with the
Corporation and all Related Companies terminates for any reason, then any Restricted Stock not
vested as of such date will be forfeited to the Corporation.

     4. Tax Withholding Obligations. The Grantee shall be required to deposit with the
Corporation either (i) an amount of cash equal to the amount determined by the Corporation to be
required with respect to any withholding taxes, FICA contributions, or the like under any federal,
state or local statute, ordinance,

 

 

rule or regulation in connection with the grant or vesting of the Restricted Stock or (ii) a
number of shares of the Corporation’s Common Stock otherwise deliverable having a Fair Market Value
sufficient to satisfy the statutory minimum of all or part of the Grantee’s estimated total
federal, state and local tax obligations associated with the grant or vesting of the Restricted
Stock. The Corporation shall not deliver any of the shares of the Corporation’s Common Stock until
and unless the Grantee has made the deposit required herein or proper provision for required
withholding has been made.

     5. Rights as Shareholder. The Grantee shall have all rights of a shareholder prior to
the vesting of the Restricted Stock, including the right to vote the shares and receive all
dividends and other distributions paid or made with respect thereto.

     6. Transferability. The Restricted Stock may not be transferred, assigned or made
subject to any encumbrance, pledge or charge until such Restricted Stock has vested and any other
restrictions or conditions on such Restricted Stock are removed, have been satisfied or expire.

     7. No Employment Rights. Nothing in this Agreement will confer upon the Grantee any
right to continue in the employ or service of the Corporation or any Subsidiary or affect the right
of the Corporation to terminate the employment of the Grantee at any time with or without cause.

     8. Amendment. This Award Agreement may be amended only by a writing executed by the
Corporation and the Grantee that specifically states that it is amending this Award Agreement.
Notwithstanding the foregoing, this Award Agreement may be amended solely by the Committee by a
writing which specifically states that it is amending this Award Agreement, so long as a copy of
such amendment is delivered to the Grantee, and provided that no such amendment adversely affecting
the rights of the Grantee hereunder may be made without the Grantee’s written consent. Without
limiting the foregoing, the Committee reserves the right to change, by written notice to the
Grantee, the provisions of the Restricted Stock or this Award Agreement in any way it may deem
necessary or advisable to carry out the purpose of the grant as a result of any change in
applicable laws or regulations or any future law, regulation, ruling or judicial decisions,
provided that any such change shall be applicable only to shares of Restricted Stock which are than
subject to restrictions as provided herein.

     9. Severability. If all or any part of this Award Agreement is declared by any court
or government authority to be unlawful or invalid, such unlawfulness or invalidity shall not
invalidate any portion of this Award Agreement not declared to be unlawful or invalid. Any Section
of this Award Agreement so declared to be unlawful or invalid shall, if possible, be construed in a
manner that will give effect to the terms of such Section to the fullest extent possible while
remaining lawful and valid.

     10. Construction. The Restricted Stock is being issued pursuant to Section IV of the
Plan and is subject to the terms of the Plan. A copy of the Plan has been given to the Grantee and
additional copies of the Plan are available upon request during normal business hours at the
principal executive officers of the Corporation. To the extent that any provision of this Award
Agreement violates or is inconsistent with an express provision of the Plan, the Plan provision
shall govern and any inconsistent provision in this Award Agreement shall be of no force or effect.

     11. Binding Effect and Benefit. This Award Agreement shall be binding upon and,
subject to the conditions hereof, inure to the benefit of the Corporation, its successors and
assigns, and the Grantee and his successors and assigns.

     12 Entire Understanding. This Award Agreement embodies the entire understanding and
agreement of the parties in relation to the subject matter hereof, and no promise, condition,
representation or warranty, expressed or implied, not herein stated, shall bind either party
hereto.

     13. Governing Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Illinois.

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The Corporation and the Grantee hereby agree to the terms and conditions of this Award Agreement
and have executed it as of the Date of Grant set forth above.

A. M. CASTLE & CO.

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	Its:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 	 	 
	Grantee	 	 

3exv10w12

Exhibit 10.12

A.M. CASTLE & CO.

PERFORMANCE SHARE AWARD AGREEMENT

A.M. CASTLE & CO.

2008 RESTRICTED STOCK, STOCK OPTION

AND EQUITY COMPENSATION PLAN

GRANTEE:                     

ADDRESS:                     

SOCIAL SECURITY NUMBER:                     

	 	 	 	 	 
	NUMBER OF PERFORMANCE SHARES:

	 	-0-
	 	(THRESHOLD AWARD)
	 

	 	 	 	 
	 

	 	 	 	(TARGET AWARD)
	 

	 	 	 	 
	 

	 	 	 	(MAXIMUM AWARD)
	 

	 	 	 	 

DATE OF GRANT:                     

     This is an award agreement (the “Award Agreement”) between A.M. Castle & Co., a Maryland
corporation (the “Corporation”), and the individual named above (the “Grantee”). Subject to the
conditions set forth herein, the Corporation hereby grants to the Grantee, as of the Grant Date
specified above, the above-stated Target Award of Performance Shares and Maximum Award of
Performance Shares, which may be earned in accordance with Section 2, on the terms and conditions
contained herein and in the Corporation’s 2008 Restricted Stock, Stock Option and Equity
Compensation Plan approved by the shareholders April 24, 2008, as may be amended from time to time
(the “Plan”). Capitalized terms used but not otherwise defined herein shall have the meaning
ascribed to them in the Plan.

     1. Performance Vesting. Subject to Sections 2, 3 and 4, the Corporation shall deliver
to the Grantee one share of Common Stock for each whole Performance Share that is earned in
accordance with the following schedule, based on the Corporation’s Cumulative Net Earnings and
Return on Total Capital for the Performance Period:

	 	 	 	 	 	 	 	 	 
	Corporation’s Performance	 	 	 	 	 	 	 	 
	Measures	 	Weighting	 	Threshold	 	Target	 	Max
	 

	 	 
	 	 
	 	 
	 	 

If the Corporation’s actual performance is between the amounts listed above, the percentage of the
Award shall be interpolated.

     2. Delivery of Shares. The number of shares of Common Stock that the Grantee earns
under Section 1 will be delivered to the Grantee as soon as administratively practicable after the
end of the Performance Period; provided, however, that in lieu of shares of Common Stock, the
payment may be made in cash or other equity based property or any combination thereof, as the
Committee may determine in its sole discretion. Before such delivery, the Committee shall certify
in writing the number of Performance Shares that the Grantee have earned. No fractional shares
will be delivered pursuant to this Award and fractional shares shall be rounded down.

 

 

     3. Employment Termination. If the Grantee’s employment with the Corporation and its
subsidiaries terminates before the end of the Performance Period, this Performance Share Award
shall be forfeited on the date of such termination.

     4. Transferability. The Performance Shares shall not be sold, pledged, assigned,
hypothecated, transferred or disposed of in any manner, whether by the operation of law or
otherwise. Any attempted transfer of the Performance Shares prohibited by this Section 4 shall be
null and void.

     5. Adjustments. The Performance Shares shall be subject to adjustment or
substitution in accordance with Section V of the Plan.

     6. Withholding. The Grantee are responsible for all applicable federal, state and
local income and employment taxes (including taxes of any foreign jurisdiction) which the
Corporation is required to withhold at any time with respect to the Performance Shares to satisfy
its minimum statutory withholding requirements. Such payment shall be made in full at the
Grantee’s election, in cash or check, by withholding from the Grantee’s next normal payroll check,
or by the tender of shares of Common Stock payable under this Award. Shares of Common Stock
tendered as payment of required withholding shall be valued at the closing price per share of
Common Stock on the date such withholding obligation arises.

     7. Miscellaneous 

     (a) Disclaimer of Rights. Nothing contained herein shall constitute an
obligation for continued employment.

     (b) Rights Unsecured. The Grantee shall have only the Corporation’s
unfunded, unsecured promise to pay pursuant to the terms of this Award. The Grantee’s rights shall
be that of an unsecured general creditor of the Corporation and the Grantee shall not have any
security interest in any assets of the Corporation.

     (c) No Adjustment for Dividends. The number of performance shares shall
not be adjusted for the payment of any cash dividend on shares of common stock of the Corporation
before the issuance of a stock certificate representing the earned Award.

     (d) Offset. The Corporation may deduct from amounts otherwise payable
under this Award all amounts owed by the Grantee to the Corporation and its affiliates to the
maximum extent permitted by applicable law.

     (e) Terms of Plan. The Award is subject to the terms and conditions set
forth in the Plan, which are incorporated into and shall be deemed to be a part of this Award,
without regard to whether such terms and conditions (including, for example, provisions relating to
certain changes in capitalization of the Corporation) are otherwise set forth in this Award. In the
event that there is any inconsistency between the provisions of this Award and of the Plan, the
provisions of the Plan shall govern.

     (f) Amendment. This Award Agreement may be amended only by a writing executed by the
Corporation and the Grantee that specifically states that it is amending this Award Agreement.
Notwithstanding the foregoing, this Award Agreement may be amended solely by the Committee by a
writing which specifically states that it is amending this Award Agreement, so long as a copy of
such amendment is delivered to the Grantee, and provided that no such amendment adversely affecting
the rights of the Grantee hereunder may be made without the Grantee’s written consent. Without
limiting the foregoing, the Committee reserves the right to change, by written notice to the
Grantee, the provisions of the Performance Shares or this Award Agreement in any way it may deem
necessary or advisable to carry out the purpose of the grant as a result of any change in
applicable laws or regulations or any future law, regulation, ruling or judicial decisions,
provided that any such change shall be applicable only to the Performance Shares which are than
subject to restrictions as provided herein.

2

 

     (g) Severability. If any term, provision, covenant or restriction contained
herein is held by a court or a federal regulatory agency of competent jurisdiction to be invalid,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions contained
herein shall remain in full force and effect, and shall in no way be affected, impaired or
invalidated.

     (h) Controlling Law. The Award shall be construed, interpreted and applied
in accordance with the law of the State of Illinois, without giving effect to the choice of law
provisions thereof. The Grantee agrees to irrevocably submit any dispute arising out of or
relating to this Award to the exclusive concurrent jurisdiction of the state and federal courts
located in Illinois. The Grantee also irrevocably waive, to the fullest extent permitted by
applicable law, any objection the Grantee may now or hereafter have to the laying of venue of any
such dispute brought in such court or any defense of inconvenient forum for the maintenance of such
dispute, and the Grantee agree to accept service of legal process from the courts of Illinois.

     (i) Code Section 409A Compliance. To the extent applicable, it is intended
that this Award and the Plan not be subject to or otherwise comply with the provisions of Code
Section 409A, so that the income inclusion provisions of Code Section 409A(a)(1) do not apply. This
Award and the Plan shall be interpreted and administered in a manner consistent with this intent,
and any provision that would cause the Award or the Plan to fail to satisfy Code Section 409A shall
have no force and effect until amended to comply with Code Section 409A (which amendment may be
retroactive to the extent permitted by Code Section 409A and may be made by the Corporation without
the Grantee’s consent).

     8. Definitions. As used herein, the following terms shall be defined as set forth
below:

     (a) “Award” means the Performance Share Award to the Grantee as set forth
herein, and as may be amended as provided herein.

     (b) “Board” means the Corporation’s Board of Directors.

     (d) “Code” means the Internal Revenue Code of 1986, as amended.

     (e) “Committee” means the Human Resources Committee of the Board.

     (f) “Common Stock” means the Corporation’s $.01 par value common stock.

     (g) “Grant Date” means the date this Award is made to the Grantee, as set
forth on the first page of the Award.

     (h) “Maximum Award” means that maximum number of Performance Shares awarded
to the Grantee as set forth on the first page of the Award, representing Two Hundred Percent (200%)
of the Target Award.

     (k) “Performance Period” means the Corporation’s three (3) consecutive
fiscal years commencing with the fiscal year beginning [___].

     (l) “Performance Share” means a bookkeeping entry that records the
equivalent of one share of Common Stock.

     (p) “Target Award” means that number of Performance Shares specified as such
on the first page of the Award.

3

 

     The Corporation and the Grantee hereby agree to the terms and conditions of this Award
Agreement and have executed it as of the Date of Grant set forth above.

	 	 	 	 	 
	A. M. CASTLE & CO.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Its:

	 	 

	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 	 	 
	Grantee	 	 

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