Summary of Compensation Arrangements for Named Executive Officers of Western Alliance Bancorporation
Western Alliance Bancorporation has outlined the compensation arrangements for its named executive officers, who are employed on an at-will basis without written employment contracts. Their annual base salaries for 2005 are determined by the Board of Directors, following recommendations from the Compensation Committee. The officers are also eligible for bonuses and participation in the company's 2005 Stock Incentive Plan. The agreement covers key executives, including the CEO, CFO, and other senior officers, and specifies their respective base salaries for the year.
Exhibit 10.11
WESTERN ALLIANCE BANCORPORATION
SUMMARY OF COMPENSATION ARRANGEMENTS WITH NAMED EXECUTIVE OFFICERS
The named executive officers of Western Alliance Bancorporation (the “Company”) are “at will” employees lacking written employment agreements with the Company. The annual base salaries of the named executive officers are set annually by the Company’s Board of Directors, based on the Compensation Committee’s recommendation. For 2005, the annual base salaries of the Company’s named executive officers are as follows:
Robert Sarver | Chairman, President and Chief Executive Officer | $ | 500,000 | |||
Larry Woodrum | Executive Vice President, Nevada Administration | $ | 310,000 | |||
Dale Gibbons | Executive Vice President and Chief Financial Officer | $ | 231,000 | |||
James Lundy | Executive Vice President, Arizona Administration | $ | 212,000 | |||
Linda Mahan | Executive Vice President, Operations | $ | 175,000 |
In addition to their base salary, each of the named executive officers is eligible for a bonus and to participate in the Company’s 2005 Stock Incentive Plan.
