Temecula Valley Bank and Bancorp Director Compensation Adjustment (2007)
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Compensation Agreements
Summary
This agreement outlines changes to the compensation for directors of Temecula Valley Bank and Temecula Valley Bancorp, effective January 2007. Board meeting fees for bank directors increase to $1,850 per meeting, and Loan Committee fees rise to $400 per meeting. Audit Committee fees for Bancorp directors also increase to $400 per meeting. Directors will not receive fees for any meeting missed after their first absence in a calendar year. The agreement sets clear payment terms and attendance requirements for board and committee members.
EX-10.1 2 a5300729ex10-1.txt EXHIBIT 10.1 Exhibit 10.1 Exhibit 10.1 -- Director Compensation The Temecula Valley Bank ("Bank") Board of Directors approved the following:: effective beginning in January 2007: (a) Bank Board of Director fees will increase per meeting from $1,750 to $1,850; and (b) Bank Director Loan Committee fees will increase per meeting from $350 to $400. Fees will not be paid to any member not in attendance beginning with the second missed meeting in any calendar year. The Temecula Valley Bancorp Board of Directors approved the following: effective in January 2007, Audit Committee fees will increase per meeting from $350 to $400. Fees will not be paid to any member not in attendance beginning with the second missed meeting in any calendar year.
