Contra Costa California Employees' Stock Deferral Plan for Norwest Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Contra Costa
• Control #: US-CC-20-110
• Format: Word; Rich Text

Description

20-110 20-110 . . . Employees' 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 Contra Costa California Employees' Stock Deferral Plan is a retirement benefit offered by Nor west Corp., a financial services company. This plan allows employees who meet certain eligibility requirements to defer a portion of their compensation into company stock, providing them with an opportunity for long-term investment and potential growth. Nor west Corp. offers several types of stock deferral plans under the Contra Costa California Employees' Stock Deferral Plan. These options include: 1. Deferred Stock Unit (DSU) Plan: This plan allows eligible employees to defer a specific percentage or dollar amount of their salary, bonus, or commission into a notional account. The funds are then converted into units, representing the value of Nor west Corp.'s common stock. Upon retirement or other qualifying events, employees can receive the value of these units, either in cash or shares of company stock. 2. Stock Appreciation Rights (SARS) Plan: Under this plan, eligible employees can elect to defer a portion of their compensation in the form of SARS. SARS provide participants with the right to receive payment equal to the appreciation in the value of a specified number of Nor west Corp. shares over a predetermined period. Upon retirement or other qualifying events, participants can exercise their SARS and receive the appreciating value in cash. 3. Restricted Stock Plan (RSP): The RSP enables eligible employees to defer a percentage or dollar amount of their compensation into restricted stock units (RSS). RSS represents a promise to deliver shares of Nor west Corp. stock at a future vested date. Participants may elect to receive the shares at the vesting date or in subsequent years, aligning with their retirement or other qualifying events. 4. Employee Stock Purchase Plan (ESPN): Nor west Corp. may also offer an ESPN, allowing eligible employees to purchase company stock at a discounted price. This plan often allows employees to allocate a portion of their salary to acquire shares on a periodic basis, typically at a discounted market price. It is important for eligible employees to carefully review the terms and conditions of each stock deferral plan offered by Nor west Corp. under the Contra Costa California Employees' Stock Deferral Plan, as each plan may have unique features, eligibility requirements, and tax implications. Consulting with a qualified financial advisor is recommended before participating in any of these plans to ensure alignment with personal financial goals and retirement strategies.

Contra Costa California Employees' Stock Deferral Plan is a retirement benefit offered by Nor west Corp., a financial services company. This plan allows employees who meet certain eligibility requirements to defer a portion of their compensation into company stock, providing them with an opportunity for long-term investment and potential growth. Nor west Corp. offers several types of stock deferral plans under the Contra Costa California Employees' Stock Deferral Plan. These options include: 1. Deferred Stock Unit (DSU) Plan: This plan allows eligible employees to defer a specific percentage or dollar amount of their salary, bonus, or commission into a notional account. The funds are then converted into units, representing the value of Nor west Corp.'s common stock. Upon retirement or other qualifying events, employees can receive the value of these units, either in cash or shares of company stock. 2. Stock Appreciation Rights (SARS) Plan: Under this plan, eligible employees can elect to defer a portion of their compensation in the form of SARS. SARS provide participants with the right to receive payment equal to the appreciation in the value of a specified number of Nor west Corp. shares over a predetermined period. Upon retirement or other qualifying events, participants can exercise their SARS and receive the appreciating value in cash. 3. Restricted Stock Plan (RSP): The RSP enables eligible employees to defer a percentage or dollar amount of their compensation into restricted stock units (RSS). RSS represents a promise to deliver shares of Nor west Corp. stock at a future vested date. Participants may elect to receive the shares at the vesting date or in subsequent years, aligning with their retirement or other qualifying events. 4. Employee Stock Purchase Plan (ESPN): Nor west Corp. may also offer an ESPN, allowing eligible employees to purchase company stock at a discounted price. This plan often allows employees to allocate a portion of their salary to acquire shares on a periodic basis, typically at a discounted market price. It is important for eligible employees to carefully review the terms and conditions of each stock deferral plan offered by Nor west Corp. under the Contra Costa California Employees' Stock Deferral Plan, as each plan may have unique features, eligibility requirements, and tax implications. Consulting with a qualified financial advisor is recommended before participating in any of these plans to ensure alignment with personal financial goals and retirement strategies.