Collin Texas Directors' Stock Deferral Plan for Norwest Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Collin
• 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 Collin Texas Directors' Stock Deferral Plan is a unique and beneficial compensation arrangement specifically designed for Directors serving at Nor west Corp. Based in Collin, Texas, this plan allows Directors to defer a portion of their stock compensation, providing them with flexibility and financial planning opportunities. Under the Collin Texas Directors' Stock Deferral Plan, Directors have the option to defer receipt of a certain percentage of their stock awards, instead of receiving them immediately upon vesting. By choosing to defer, Directors can have greater control over when they receive their stock compensation and potentially benefit from advantageous tax implications. This plan offers various options for deferral, allowing Directors to choose the timing and duration of their deferrals. They can select a set number of years to defer their stock awards or opt for specific trigger events such as retirement or a change in control of the company to determine when they will receive the deferred compensation. One notable advantage of the Collin Texas Directors' Stock Deferral Plan is the ability for Directors to potentially achieve greater long-term returns on their deferred compensation. Instead of receiving the stocks in their original form, Directors have the option to choose alternative investments such as mutual funds or other financial instruments that may offer higher growth potential. Additionally, the plan includes provisions for dividend equivalent payments. Directors who choose to defer stock awards are typically entitled to earn dividend equivalents on the deferred amount, further enhancing the overall value of their compensation. It is important to note that while the plan primarily focuses on stock deferral, it may also encompass other forms of director compensation, such as cash retainers or bonuses, subject to specific provisions and limitations outlined in the Collin Texas Directors' Stock Deferral Plan. In summary, the Collin Texas Directors' Stock Deferral Plan for Nor west Corp. is a comprehensive compensation arrangement tailored to Directors in Collin, Texas. It allows them to defer a percentage of their stock awards, choose the timing and duration of their deferrals, potentially benefit from favorable tax implications, and earn dividend equivalents. This plan provides Directors with greater control over their compensation and valuable financial planning opportunities.

The Collin Texas Directors' Stock Deferral Plan is a unique and beneficial compensation arrangement specifically designed for Directors serving at Nor west Corp. Based in Collin, Texas, this plan allows Directors to defer a portion of their stock compensation, providing them with flexibility and financial planning opportunities. Under the Collin Texas Directors' Stock Deferral Plan, Directors have the option to defer receipt of a certain percentage of their stock awards, instead of receiving them immediately upon vesting. By choosing to defer, Directors can have greater control over when they receive their stock compensation and potentially benefit from advantageous tax implications. This plan offers various options for deferral, allowing Directors to choose the timing and duration of their deferrals. They can select a set number of years to defer their stock awards or opt for specific trigger events such as retirement or a change in control of the company to determine when they will receive the deferred compensation. One notable advantage of the Collin Texas Directors' Stock Deferral Plan is the ability for Directors to potentially achieve greater long-term returns on their deferred compensation. Instead of receiving the stocks in their original form, Directors have the option to choose alternative investments such as mutual funds or other financial instruments that may offer higher growth potential. Additionally, the plan includes provisions for dividend equivalent payments. Directors who choose to defer stock awards are typically entitled to earn dividend equivalents on the deferred amount, further enhancing the overall value of their compensation. It is important to note that while the plan primarily focuses on stock deferral, it may also encompass other forms of director compensation, such as cash retainers or bonuses, subject to specific provisions and limitations outlined in the Collin Texas Directors' Stock Deferral Plan. In summary, the Collin Texas Directors' Stock Deferral Plan for Nor west Corp. is a comprehensive compensation arrangement tailored to Directors in Collin, Texas. It allows them to defer a percentage of their stock awards, choose the timing and duration of their deferrals, potentially benefit from favorable tax implications, and earn dividend equivalents. This plan provides Directors with greater control over their compensation and valuable financial planning opportunities.