West Virginia 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 West Virginia Directors' Stock Deferral Plan for Nor west Corp. is a comprehensive program designed to provide directors with the flexibility to defer receiving stock compensation and opt for alternative forms of financial benefits. This plan offers various options for directors to defer the receipt of stock, allowing them to align their compensation with their long-term financial goals. The West Virginia Directors' Stock Deferral Plan enables directors of Nor west Corp. to delay the receipt of stock awards until a predetermined future date. This deferral option provides directors with the ability to plan their compensation in a way that best suits their financial strategy. By deferring the receipt of stock, directors can potentially benefit from the appreciation of Nor west Corp.'s stock value over time. This plan also offers several types of deferral options tailored to meet the individual preferences and financial objectives of directors: 1. Fixed Deferral Option: Directors may elect to defer a specific percentage or dollar amount of their stock grants until a future date. This fixed deferral option allows directors to forecast and control the timing of their stock compensation. 2. Performance-Based Deferral Option: Directors can choose to defer stock awards contingent upon the achievement of specific performance criteria set by Nor west Corp. This option aligns director compensation with the company's performance, promoting a culture of accountability and results-driven governance. 3. Time-Based Deferral Option: Directors have the opportunity to defer the receipt of their stock awards for a certain number of years after they leave Nor west Corp.'s board. This option accommodates directors' retirement plans and offers additional flexibility for managing their post-service financial needs. By implementing the West Virginia Directors' Stock Deferral Plan for Nor west Corp., the company demonstrates its commitment to providing a competitive compensation program that suits the diverse needs of its directors. The plan's flexibility and range of options ensure that directors have the opportunity to align their long-term financial goals with the company's success.

The West Virginia Directors' Stock Deferral Plan for Nor west Corp. is a comprehensive program designed to provide directors with the flexibility to defer receiving stock compensation and opt for alternative forms of financial benefits. This plan offers various options for directors to defer the receipt of stock, allowing them to align their compensation with their long-term financial goals. The West Virginia Directors' Stock Deferral Plan enables directors of Nor west Corp. to delay the receipt of stock awards until a predetermined future date. This deferral option provides directors with the ability to plan their compensation in a way that best suits their financial strategy. By deferring the receipt of stock, directors can potentially benefit from the appreciation of Nor west Corp.'s stock value over time. This plan also offers several types of deferral options tailored to meet the individual preferences and financial objectives of directors: 1. Fixed Deferral Option: Directors may elect to defer a specific percentage or dollar amount of their stock grants until a future date. This fixed deferral option allows directors to forecast and control the timing of their stock compensation. 2. Performance-Based Deferral Option: Directors can choose to defer stock awards contingent upon the achievement of specific performance criteria set by Nor west Corp. This option aligns director compensation with the company's performance, promoting a culture of accountability and results-driven governance. 3. Time-Based Deferral Option: Directors have the opportunity to defer the receipt of their stock awards for a certain number of years after they leave Nor west Corp.'s board. This option accommodates directors' retirement plans and offers additional flexibility for managing their post-service financial needs. By implementing the West Virginia Directors' Stock Deferral Plan for Nor west Corp., the company demonstrates its commitment to providing a competitive compensation program that suits the diverse needs of its directors. The plan's flexibility and range of options ensure that directors have the opportunity to align their long-term financial goals with the company's success.