Nebraska Directors' Stock Deferral Plan for Norwest Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-111C
• Format: Word; Rich Text

Description

20-111C 20-111C . . . Directors' Stock Deferral Plan which allow participants to defer to later year certain compensation which would otherwise be includable in income for tax purposes in year in which it would have been paid. The Plans also provide for investment of such compensation in deferred stock account in form of shares of corporation common stock The Nebraska Directors' Stock Deferral Plan is a program specifically implemented by Nor west Corp. to provide its directors in Nebraska with an opportunity to defer compensation in the form of company stock. This plan allows directors to delay receiving their compensation until a later date to take advantage of potential future growth in the stock value. Under this program, directors are given the option to defer a portion of their director fees or retainers, and instead, receive it in the form of company stock. By doing so, directors have the potential to benefit from any increase in the stock's value over time. The Nebraska Directors' Stock Deferral Plan offers flexibility to participants by allowing them to choose the exact amount of compensation they wish to defer and the duration of the deferral period. This flexibility enables directors to customize their compensation to align with their personal financial goals and objectives. Additionally, the plan allows directors to defer the payment of income taxes on the deferred compensation until a later date when they receive it. This feature provides potential tax advantages, as directors may be in a lower tax bracket during their retirement years. Furthermore, the plan may include various investment options for participants to allocate their deferred stock. These options could include diversified investment funds, individual stocks, or other investment vehicles. Directors have the ability to choose the investment strategy that best suits their risk tolerance and investment preferences. It is important to note that while this description pertains specifically to the Nebraska Directors' Stock Deferral Plan for Nor west Corp., other variations of the directors' stock deferral plan may exist for different states or jurisdictions. These variations could include different eligibility criteria, deferral periods, vesting schedules, or investment options, tailored to comply with specific regulations or requirements. However, for the purpose of this description, the focus remains on the Nebraska version of the plan implemented by Nor west Corp.

The Nebraska Directors' Stock Deferral Plan is a program specifically implemented by Nor west Corp. to provide its directors in Nebraska with an opportunity to defer compensation in the form of company stock. This plan allows directors to delay receiving their compensation until a later date to take advantage of potential future growth in the stock value. Under this program, directors are given the option to defer a portion of their director fees or retainers, and instead, receive it in the form of company stock. By doing so, directors have the potential to benefit from any increase in the stock's value over time. The Nebraska Directors' Stock Deferral Plan offers flexibility to participants by allowing them to choose the exact amount of compensation they wish to defer and the duration of the deferral period. This flexibility enables directors to customize their compensation to align with their personal financial goals and objectives. Additionally, the plan allows directors to defer the payment of income taxes on the deferred compensation until a later date when they receive it. This feature provides potential tax advantages, as directors may be in a lower tax bracket during their retirement years. Furthermore, the plan may include various investment options for participants to allocate their deferred stock. These options could include diversified investment funds, individual stocks, or other investment vehicles. Directors have the ability to choose the investment strategy that best suits their risk tolerance and investment preferences. It is important to note that while this description pertains specifically to the Nebraska Directors' Stock Deferral Plan for Nor west Corp., other variations of the directors' stock deferral plan may exist for different states or jurisdictions. These variations could include different eligibility criteria, deferral periods, vesting schedules, or investment options, tailored to comply with specific regulations or requirements. However, for the purpose of this description, the focus remains on the Nebraska version of the plan implemented by Nor west Corp.