Temecula Valley Bank Executive Officer Compensation Approval (2008)
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
The Board of Directors of Temecula Valley Bank, following the recommendation of its Executive Officer Compensation Committee, approved changes to the annual base salaries of three executive officers effective January 1, 2008. The agreement also increases Mr. Basirico's bonus from 60 to 75 basis points of pre-tax profits. This document outlines the new compensation terms for the named executives.
EX-10.1 2 a5600363ex10_1.txt EXHIBIT 10.1 Exhibit 10.1 Exhibit 10.1 - Executive Officer Compensation The Temecula Valley Bank ("Bank") Board of Directors, upon the recommendation of the Executive Officer Compensation Committee, approved the following: 1. Annual Base Salary Changes Effective January 1, 2008 Jim Andrews, EVP/Real Estate Manager $220,000 to $231,000 Frank Basirico Jr., SEVP/Chief Credit Officer $262,500 to $275,625 Martin E. Plourd, EVP/Chief Operating Officer $180,000 to $189,000 2. Mr. Basirico's bonus was changed from 60 basis points to 75 basis points of pre-tax profits.
