xt7qnk361p0s_686 https://exploreuk.uky.edu/dips/xt7qnk361p0s/data/mets.xml https://exploreuk.uky.edu/dips/xt7qnk361p0s/data/88m6.dao.xml Inland Steel Company 185 Cubic Feet archival material 88m6 English University of Kentucky Copyright has not been assigned to the University of Kentucky  Contact the Special Collections Research Center for information regarding rights and use of this collection. Wheelwright Collection Coal miners -- Housing -- Kentucky. Coal mines and mining -- Appalachian Region -- History. Company towns -- Kentucky -- Wheelwright. Community development -- Kentucky -- Wheelwright. Coal mines and mining -- Kentucky -- Wheelwright Inland Stock Option text Inland Stock Option 2016 https://exploreuk.uky.edu/dips/xt7qnk361p0s/data/88m6/Box_124/Folder_6/88m6_124_6__2535.pdf section false xt7qnk361p0s_686 xt7qnk361p0s . ,{7
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I NLAND STE E L COM PANY
GENERAL OFFICES - 30 WEST MONROE STREET~ CHICAGO 3.ILLINOIS- FINANCIAL 6*0300
JOSEPH L.BLOCK
March 27, 1958
TO ALL EMPLOYES:
. I think you will be pleased to learn that a new
plan has been proposed by which you may again buy
Inland common stock at below market price after the
present stock option plan expires in July. The Board of
Directors has voted for a new plan to be submitted to
stockholders for their approval at the annual meeting
on April 30. The plan is also subject to clearance by
appropriate government agencies.

The new plan is called the Inland Stock Purchase
Plan and provides 500,000 shares of Inland stock for
employee purchases. It differs from the stock option
plans in certain ways. For instance, instead of signing
up for a three—year period, you would sign up for this
plan for an indefinite period. You can remain in the
plan automatically for a succession of six months periods
which may run for as long as 10 years, but you can also
change the amount of your savings from one six months
period to the next, or drop out. You can re—enter at the
start of a later six months period. The price of the
stock will be 90 per cent of the market price at the end
of each six months period.

Full-time employes with two years of service with
the company are eligible to participate. If you are not
eligible at the start of the Plan, you can join after you
have attained your two years of service.

The amount of stock you can buy will be limited to
a proportion of your earnings and will vary with a
maximum of 10 per cent for those with 15 or more years of

 _ 2 _
service to 8 per cent for those who have been with the
company 10 to 15 years and 6 per cent for those with
. less than 10 years of service.

The Inland Stock Purchase Plan and the stock
option plans were an outgrowth of the conviction of
Inland's top management that a broad base of employee
ownership in Inland would be good for our company. Today
there are more than 10,000 Inland employes who purchased
stock as a result of the stock option plans. I feel that
the proprietary interest in company affairs these people
have acquired through stock ownership has been one of
the factors in Inland's progress over the last six years.

Since this Plan will probably not go into effect
until August you have time to consider whether you should
participate. If the Plan is approved by the stockholders
and appropriate clearances obtained, you will receive a
full description prior to the time it is made effective.

Sincerely,