Wake North Carolina Directors' Stock Deferral Plan for Norwest Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Wake
• 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 Wake North Carolina Directors' Stock Deferral Plan for Nor west Corp. is a comprehensive program designed to provide Nor west Corp. directors hailing from Wake North Carolina with opportunities to defer receiving their stock compensation. This plan allows directors to delay the receipt of stock awards, which is particularly beneficial for tax planning purposes and aligns the interests of directors with those of the company. Participants of the Wake North Carolina Directors' Stock Deferral Plan have the flexibility to choose the amount of their stock compensation to be deferred and the timing of its distribution. By choosing to defer receiving stock awards, directors can potentially reduce their tax liability in the current year, particularly if they are subject to high-income brackets. The Wake North Carolina Directors' Stock Deferral Plan offers several types of deferral options to suit the individual needs and preferences of directors. These options may include: 1. Deferred Compensation Account: Directors can opt to have their stock compensation deferred into a dedicated account, which earns a competitive rate of return over time. The funds in the account can be invested in various investment options, allowing suitable growth potential for the deferred compensation. 2. Stock Unit Deferral: Alternatively, directors can defer receiving actual stock and instead opt for stock units, which are essentially hypothetical shares that track the value of Nor west Corp. stock. The value of the stock units will fluctuate based on the performance of the company's stock, providing an opportunity for potential growth. 3. Combination Deferral: Directors may also choose a combination of deferral options, allocating a portion of their stock compensation to a deferred compensation account and another portion to stock units. This allows for diversification and potentially mitigates any risk associated with either option. Overall, the Wake North Carolina Directors' Stock Deferral Plan for Nor west Corp. offers directors from Wake North Carolina the flexibility, convenience, and tax advantages of deferring their stock compensation. By providing various deferral options, the plan ensures that directors can customize their approach to meet their individual financial goals and circumstances, while remaining aligned with the company's long-term success.

The Wake North Carolina Directors' Stock Deferral Plan for Nor west Corp. is a comprehensive program designed to provide Nor west Corp. directors hailing from Wake North Carolina with opportunities to defer receiving their stock compensation. This plan allows directors to delay the receipt of stock awards, which is particularly beneficial for tax planning purposes and aligns the interests of directors with those of the company. Participants of the Wake North Carolina Directors' Stock Deferral Plan have the flexibility to choose the amount of their stock compensation to be deferred and the timing of its distribution. By choosing to defer receiving stock awards, directors can potentially reduce their tax liability in the current year, particularly if they are subject to high-income brackets. The Wake North Carolina Directors' Stock Deferral Plan offers several types of deferral options to suit the individual needs and preferences of directors. These options may include: 1. Deferred Compensation Account: Directors can opt to have their stock compensation deferred into a dedicated account, which earns a competitive rate of return over time. The funds in the account can be invested in various investment options, allowing suitable growth potential for the deferred compensation. 2. Stock Unit Deferral: Alternatively, directors can defer receiving actual stock and instead opt for stock units, which are essentially hypothetical shares that track the value of Nor west Corp. stock. The value of the stock units will fluctuate based on the performance of the company's stock, providing an opportunity for potential growth. 3. Combination Deferral: Directors may also choose a combination of deferral options, allocating a portion of their stock compensation to a deferred compensation account and another portion to stock units. This allows for diversification and potentially mitigates any risk associated with either option. Overall, the Wake North Carolina Directors' Stock Deferral Plan for Nor west Corp. offers directors from Wake North Carolina the flexibility, convenience, and tax advantages of deferring their stock compensation. By providing various deferral options, the plan ensures that directors can customize their approach to meet their individual financial goals and circumstances, while remaining aligned with the company's long-term success.