Summarized by Eileen Bell
Eccles to Get Bonus, Serve on Wells Board
Salt Lake Tribune 11Jul00 B2
By Lesley Mitchell: Salt Lake Tribune
SALT LAKE CITY, UTAH -- A pending deal by Wells Fargo &Company to
buy Utah's First Security Corporation will see LDS executive Spencer
Eccles receive one million dollars (U.S.) a year until his 2004
retirement, than a 1.5 million dollar bonus.
Brother Eccles, who founded the bank would become the chairman
for Wells' banking activities in the intermountain area. He will also
be a member of the board of directors. The sale was agreed to in
April. Another possible purchaser for First Security had been Zions
Bancorporation, but shareholders had earlier rejected their offer.
The rejection caused a drop in the price of First Security shares,
and primed it for a takeover.