Santa Clara California Directors' Stock Deferral Plan for Norwest Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Santa Clara
• 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 Santa Clara California Directors' Stock Deferral Plan is an executive compensation program offered by Nor west Corp., a renowned financial institution. This plan provides an opportunity for the directors of Nor west Corp. based in Santa Clara, California, to defer a portion of their compensation in the form of company stock. Under the Santa Clara California Directors' Stock Deferral Plan, directors have the option to defer a predetermined percentage of their annual Board retainer fee, meeting fees, and committee fees, and receive shares of Nor west Corp.'s common stock in exchange. This deferred stock compensation is subject to certain terms and conditions outlined in the plan. By electing to participate in this plan, directors can potentially benefit from the appreciation of Nor west Corp.'s stock over time. This creates an alignment of interests between the directors and the shareholders of the company, as the value of the deferred stock will be directly affected by the performance of Nor west Corp. in the market. The Santa Clara California Directors' Stock Deferral Plan offers various options for directors to receive their deferred stock compensation. These options may include receiving a lump sum distribution of the accumulated deferred stock upon retirement or termination, receiving installment payments over a specified number of years, or converting the deferred stock into cash upon a change of control transaction. Additionally, there may be different types of the Santa Clara California Directors' Stock Deferral Plan available within Nor west Corp., tailored to meet the specific needs and preferences of individual directors. Some variations may offer additional features such as dividend reinvestment or stock appreciation rights, allowing directors to further enhance the value of their deferred stock holdings. Overall, the Santa Clara California Directors' Stock Deferral Plan for Nor west Corp. serves as a valuable tool to attract and retain highly qualified directors by providing them with an opportunity to participate in the company's long-term success. This compensation program encourages a sense of ownership and accountability among directors while aligning their interests with the growth and financial performance of Nor west Corp.

The Santa Clara California Directors' Stock Deferral Plan is an executive compensation program offered by Nor west Corp., a renowned financial institution. This plan provides an opportunity for the directors of Nor west Corp. based in Santa Clara, California, to defer a portion of their compensation in the form of company stock. Under the Santa Clara California Directors' Stock Deferral Plan, directors have the option to defer a predetermined percentage of their annual Board retainer fee, meeting fees, and committee fees, and receive shares of Nor west Corp.'s common stock in exchange. This deferred stock compensation is subject to certain terms and conditions outlined in the plan. By electing to participate in this plan, directors can potentially benefit from the appreciation of Nor west Corp.'s stock over time. This creates an alignment of interests between the directors and the shareholders of the company, as the value of the deferred stock will be directly affected by the performance of Nor west Corp. in the market. The Santa Clara California Directors' Stock Deferral Plan offers various options for directors to receive their deferred stock compensation. These options may include receiving a lump sum distribution of the accumulated deferred stock upon retirement or termination, receiving installment payments over a specified number of years, or converting the deferred stock into cash upon a change of control transaction. Additionally, there may be different types of the Santa Clara California Directors' Stock Deferral Plan available within Nor west Corp., tailored to meet the specific needs and preferences of individual directors. Some variations may offer additional features such as dividend reinvestment or stock appreciation rights, allowing directors to further enhance the value of their deferred stock holdings. Overall, the Santa Clara California Directors' Stock Deferral Plan for Nor west Corp. serves as a valuable tool to attract and retain highly qualified directors by providing them with an opportunity to participate in the company's long-term success. This compensation program encourages a sense of ownership and accountability among directors while aligning their interests with the growth and financial performance of Nor west Corp.