Bexar Texas Directors' Stock Deferral Plan for Norwest Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Bexar
• 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 Bexar Texas Directors' Stock Deferral Plan is a specialized program established by Nor west Corp. for its directors residing in Bexar County, Texas. This plan allows directors to defer a portion of their annual cash retainer, committee fees, and meeting fees to be invested in Nor west Corp. stock, thus providing an additional long-term income opportunity. Through the Bexar Texas Directors' Stock Deferral Plan, directors have the option of deferring up to a certain percentage of their compensation, which is then used to purchase Nor west Corp. stock at the prevailing market price. By deferring their compensation, directors can take advantage of potential future stock price appreciation and dividends. This plan aims to align the interests of directors with the company's shareholders by encouraging long-term ownership and ensuring that directors are invested in Nor west Corp.'s success. By deferring compensation in the form of company stock, directors have a vested interest in making strategic decisions that enhance shareholder value and drive the company's long-term growth. The Bexar Texas Directors' Stock Deferral Plan for Nor west Corp. has three different types, tailored to meet the diverse needs of the directors. These types include: 1. Basic Deferral: Directors can choose to defer a specific percentage of their compensation, which will be used to purchase Nor west Corp. stock at regular intervals, typically on a quarterly basis. 2. Performance-based Deferral: Directors have the option to defer a portion of their compensation based on predetermined performance goals and milestones. Upon achieving these goals, the deferred compensation is used to purchase Nor west Corp. stock. 3. Retirement Deferral: This type allows directors to defer a certain percentage of their compensation to be invested in Nor west Corp. stock until their retirement. This provides directors with a potential additional source of income during retirement. Overall, the Bexar Texas Directors' Stock Deferral Plan for Nor west Corp. is a comprehensive program designed to incentivize long-term director share ownership and align their interests with the success of the company. It offers multiple options tailored to the specific needs and preferences of directors, ensuring flexibility and potential financial benefits in the form of stock price appreciation and dividends.

Bexar Texas Directors' Stock Deferral Plan is a specialized program established by Nor west Corp. for its directors residing in Bexar County, Texas. This plan allows directors to defer a portion of their annual cash retainer, committee fees, and meeting fees to be invested in Nor west Corp. stock, thus providing an additional long-term income opportunity. Through the Bexar Texas Directors' Stock Deferral Plan, directors have the option of deferring up to a certain percentage of their compensation, which is then used to purchase Nor west Corp. stock at the prevailing market price. By deferring their compensation, directors can take advantage of potential future stock price appreciation and dividends. This plan aims to align the interests of directors with the company's shareholders by encouraging long-term ownership and ensuring that directors are invested in Nor west Corp.'s success. By deferring compensation in the form of company stock, directors have a vested interest in making strategic decisions that enhance shareholder value and drive the company's long-term growth. The Bexar Texas Directors' Stock Deferral Plan for Nor west Corp. has three different types, tailored to meet the diverse needs of the directors. These types include: 1. Basic Deferral: Directors can choose to defer a specific percentage of their compensation, which will be used to purchase Nor west Corp. stock at regular intervals, typically on a quarterly basis. 2. Performance-based Deferral: Directors have the option to defer a portion of their compensation based on predetermined performance goals and milestones. Upon achieving these goals, the deferred compensation is used to purchase Nor west Corp. stock. 3. Retirement Deferral: This type allows directors to defer a certain percentage of their compensation to be invested in Nor west Corp. stock until their retirement. This provides directors with a potential additional source of income during retirement. Overall, the Bexar Texas Directors' Stock Deferral Plan for Nor west Corp. is a comprehensive program designed to incentivize long-term director share ownership and align their interests with the success of the company. It offers multiple options tailored to the specific needs and preferences of directors, ensuring flexibility and potential financial benefits in the form of stock price appreciation and dividends.