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Edgar Filing: RYERSON TULL INC /DE/ - Form DEF 14A

adjustments as it deems appropriate in the case of participants whose salary grade classifications have changed during the relevant award period or who have been employed in more than one Corporate Unit during the relevant award period. Awards to any named executive officer may not be adjusted in a manner that would increase the award. The maximum award payable to a participant in any calendar year is $2,000,000. To the extent provided by the Committee, any payment under the Plan may be deferred, and to the extent deferred, may be credited with an interest or earnings factor as determined by the Committee.

Awards are paid in cash as soon as practicable after the end of the applicable award period for which the award is made. If the participant to whom an award has been made dies prior to the payment of the award, the award is paid to the legal representative or to such other person as determined by the chief executive officer of the Company. The Company or applicable Corporate Unit has the right to deduct any taxes required by law to be withheld from any award.

Annual Performance Improvement Incentive Plan Benefits

The following table shows awards made under the Plan for 2002 (which awards may not be indicative of future awards):

2002 Awards

Name and Position

Dollar Value

Neil S. Novich

$

0

Chairman, Director, Chief Executive Officer

and President Jay M. Gratz

$

0

Executive Vice President and Chief Financial Officer,

President Ryerson Tull Coil Processing Gary J. Niederpruem

Executive Vice President Thomas S. Cygan

President Ryerson Tull North James M. Delaney

$

0

$

0

$

1,801

President Customer Solutions Team, Chief Customer

Officer and Chief Procurement Officer Current Executive Officers as a Group All Employees, Including All Current Officers Who Are

$ 9,629 $ 1,648,306

Not Executive Officers, As A Group

Change of Control

34

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