Make compound butter: In a small bowl, mix Italian seasoning and garlic powder with softened butter. (Butter must be very soft to mix.)
Transfer butter to plastic wrap. Tightly wrap butter in plastic wrap.
Refrigerate butter for at least one hour, or until firm.
Grill steaks over high heat for 4-7 minutes per side, until cooked to desired doneness. Follow these tips for the perfectly cooked steak. (Ideally, only turn steaks once during cooking.)
Remove steaks from grill and place on large plate. Add 1 Tablespoon compound butter to each steak. Loosely tent with aluminum foil and let steaks rest for 5 minutes.
Add more butter to steaks before serving, if desired.