Travis Texas Adoption of Nonemployee Directors Deferred Compensation Plan with Copy of Plan

• Category: Corporations - Public - Directors
• State: Multi-State
• County: Travis
• Control #: US-CC-14-175F
• Format: Word; Rich Text

Description

This is an Adoption of a Non-Employee Director's Deferred Compensation Plan form, to be used across the United States. It is to be used when the Shareholders or Directors of a corporation feels that there is a need to defer the compensation received by a Director, for a specified reason. This form is to be modified to fit your individual needs. Travis Texas Adoption of Nonemployee Directors Deferred Compensation Plan is a comprehensive compensation plan specifically designed for nonemployee directors. This plan aims to attract and retain highly qualified individuals to serve on the board of Travis Texas, ensuring a diverse and skilled group of directors who can contribute effectively to the company's growth and success. Under this plan, nonemployee directors are given the opportunity to defer a portion of their annual retainer and meeting fees, allowing them to have greater control over their compensation and potentially maximize their long-term earnings. By deferring compensation, directors can also benefit from potential tax advantages by deferring the receipt of income to a later date. This plan offers several types of deferred compensation options to suit the individual needs and preferences of nonemployee directors. The notable variations include: 1. Defined Contribution Plan: This type of deferred compensation plan allows nonemployee directors to defer a predetermined percentage or amount of their annual retainer and meeting fees into a dedicated account. The contributions are invested in various investment vehicles, providing an opportunity for potential growth over time. The ultimate payout is based on the accumulated balance in the account at the time of retirement or departure from the board. 2. Restricted Stock Units (RSS): In addition to or instead of cash deferrals, nonemployee directors may elect to receive RSS as part of their compensation. RSS represents the right to receive company stock at a future date. By opting for RSS, directors align their interests with the company's shareholders, as their compensation is tied to the company's stock performance. 3. Stock Options: Another form of compensation available under this plan is stock options. Nonemployee directors can be granted options to purchase Travis Texas stock at a predetermined price, usually at or above the current market price. Stock options provide directors with the potential for significant financial gain if the company's stock value appreciates over time. By providing nonemployee directors with these deferred compensation options, Travis Texas aims to align their interests with the long-term success of the company, fostering a culture of ownership and shared goals. The plan ensures that directors are incentivized to make decisions that are in the best interest of the company and its shareholders. For a more detailed understanding of the Travis Texas Adoption of Nonemployee Directors Deferred Compensation Plan and its specific provisions, a copy of the plan should be obtained for reference. It is recommended to consult legal and financial professionals for expert advice on the eligibility criteria, benefits, vesting schedules, and other relevant details pertaining to the plan.

Travis Texas Adoption of Nonemployee Directors Deferred Compensation Plan is a comprehensive compensation plan specifically designed for nonemployee directors. This plan aims to attract and retain highly qualified individuals to serve on the board of Travis Texas, ensuring a diverse and skilled group of directors who can contribute effectively to the company's growth and success. Under this plan, nonemployee directors are given the opportunity to defer a portion of their annual retainer and meeting fees, allowing them to have greater control over their compensation and potentially maximize their long-term earnings. By deferring compensation, directors can also benefit from potential tax advantages by deferring the receipt of income to a later date. This plan offers several types of deferred compensation options to suit the individual needs and preferences of nonemployee directors. The notable variations include: 1. Defined Contribution Plan: This type of deferred compensation plan allows nonemployee directors to defer a predetermined percentage or amount of their annual retainer and meeting fees into a dedicated account. The contributions are invested in various investment vehicles, providing an opportunity for potential growth over time. The ultimate payout is based on the accumulated balance in the account at the time of retirement or departure from the board. 2. Restricted Stock Units (RSS): In addition to or instead of cash deferrals, nonemployee directors may elect to receive RSS as part of their compensation. RSS represents the right to receive company stock at a future date. By opting for RSS, directors align their interests with the company's shareholders, as their compensation is tied to the company's stock performance. 3. Stock Options: Another form of compensation available under this plan is stock options. Nonemployee directors can be granted options to purchase Travis Texas stock at a predetermined price, usually at or above the current market price. Stock options provide directors with the potential for significant financial gain if the company's stock value appreciates over time. By providing nonemployee directors with these deferred compensation options, Travis Texas aims to align their interests with the long-term success of the company, fostering a culture of ownership and shared goals. The plan ensures that directors are incentivized to make decisions that are in the best interest of the company and its shareholders. For a more detailed understanding of the Travis Texas Adoption of Nonemployee Directors Deferred Compensation Plan and its specific provisions, a copy of the plan should be obtained for reference. It is recommended to consult legal and financial professionals for expert advice on the eligibility criteria, benefits, vesting schedules, and other relevant details pertaining to the plan.