Definitions for "Nonqualified plan"
A plan into which the premiums paid are not deductible for tax purposes.
In the context of employee benefits, an employer plan that does not meet Internal Revenue Service qualification requirements.
A plan not meeting the qualification requirements of IRC Section 401(a). For example, section 457 deferred compensation plans are nonqualified plans which are eligible for tax deferral under the Code.
a unique benefit designed to attract and reward top executives
Keywords:  annuity, stock, option
Nonqualifying annuity Nonqualifying stock option