Harris Texas Employees' Stock Deferral Plan for Norwest Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Harris
• 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 The Harris Texas Employees' Stock Deferral Plan is a financial benefit program offered by Nor west Corp., a leading financial institution. This plan allows eligible employees of Harris Texas, a subsidiary of Nor west Corp., to defer a portion of their salary income and invest it in the company's stock. By participating in the Harris Texas Employees' Stock Deferral Plan, employees have the opportunity to accumulate shares of Nor west Corp.'s stock, thereby benefiting from any potential future increase in its value. This plan encourages employee ownership and aligns the interests of the employees with the company's success. There are different types of deferral options available under this plan, designed to cater to the diverse needs and preferences of employees. These options provide flexibility and allow employees to customize their investment strategies. The specific types of Harris Texas Employees' Stock Deferral Plan include: 1. Basic Deferred Stock Plan: This option allows employees to defer a percentage of their salary, which is then used to purchase Nor west Corp.'s stock at a predetermined price. The stock is held in a separate account until retirement or another specified event, allowing employees to potentially benefit from any appreciation in the stock's value over time. 2. Matching Stock Deferral Plan: In addition to the basic deferral, this plan offers a matching contribution from Nor west Corp. Employees who choose this option receive a matching percentage of their deferral amount, enhancing the potential for accumulation of stock. 3. Restricted Stock Unit (RSU) Plan: Under this plan, participating employees are granted RSS, which represent the right to receive shares of Nor west Corp.'s stock at a future vesting date. RSS offer employees the opportunity to accumulate shares without having to make an immediate deferral from their salary. 4. Performance-Based Stock Plan: This plan gives employees the chance to earn additional shares of Nor west Corp.'s stock based on the achievement of specific performance goals. This rewards exceptional performance and motivates employees to contribute towards the company's growth. The Harris Texas Employees' Stock Deferral Plan for Nor west Corp. provides an avenue for employees to gain ownership in the company and participate in its growth potential. With options tailored to different investment preferences, employees have the opportunity to build long-term wealth through the accumulation of Nor west Corp.'s stock.

The Harris Texas Employees' Stock Deferral Plan is a financial benefit program offered by Nor west Corp., a leading financial institution. This plan allows eligible employees of Harris Texas, a subsidiary of Nor west Corp., to defer a portion of their salary income and invest it in the company's stock. By participating in the Harris Texas Employees' Stock Deferral Plan, employees have the opportunity to accumulate shares of Nor west Corp.'s stock, thereby benefiting from any potential future increase in its value. This plan encourages employee ownership and aligns the interests of the employees with the company's success. There are different types of deferral options available under this plan, designed to cater to the diverse needs and preferences of employees. These options provide flexibility and allow employees to customize their investment strategies. The specific types of Harris Texas Employees' Stock Deferral Plan include: 1. Basic Deferred Stock Plan: This option allows employees to defer a percentage of their salary, which is then used to purchase Nor west Corp.'s stock at a predetermined price. The stock is held in a separate account until retirement or another specified event, allowing employees to potentially benefit from any appreciation in the stock's value over time. 2. Matching Stock Deferral Plan: In addition to the basic deferral, this plan offers a matching contribution from Nor west Corp. Employees who choose this option receive a matching percentage of their deferral amount, enhancing the potential for accumulation of stock. 3. Restricted Stock Unit (RSU) Plan: Under this plan, participating employees are granted RSS, which represent the right to receive shares of Nor west Corp.'s stock at a future vesting date. RSS offer employees the opportunity to accumulate shares without having to make an immediate deferral from their salary. 4. Performance-Based Stock Plan: This plan gives employees the chance to earn additional shares of Nor west Corp.'s stock based on the achievement of specific performance goals. This rewards exceptional performance and motivates employees to contribute towards the company's growth. The Harris Texas Employees' Stock Deferral Plan for Nor west Corp. provides an avenue for employees to gain ownership in the company and participate in its growth potential. With options tailored to different investment preferences, employees have the opportunity to build long-term wealth through the accumulation of Nor west Corp.'s stock.