EX-10.13 3 a2183019zex-10_13.htm EXHIBIT 10.13
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Exhibit 10.13


NAMED EXECUTIVE OFFICER COMPENSATION

        The following are adjustments to base salary, cash bonus payments for 2007 work, and grants of incentive stock were approved for the Company's CEO and the persons expected to be named executive officers in its Proxy Statement for the 2008 Annual Meeting of Shareholders. Adjustments to salary are effective as of March 1, 2008. Cash bonuses are paid on or about March 5, 2008.

Executive Officer
   Title
   2008
Salary
   2007
Cash Bonus
   Shares of
Non-Qualified
Stock Options
   Restricted
Stock Award
  
Dominic Ng   Chairman of the Board, President
and Chief Executive Officer		   $ 800,000   $ 1,208,000   174,964   54,676 (1)
Julia Gouw   Executive Vice President and Chief
Financial Officer		   $ 306,748   $ 320,000   18,966   4,742  
Wellington Chen   Executive Vice President and
Director of Corporate Banking		   $ 245,705   $ 162,000   13,276   3,319  
Doug Krause   Executive Vice President, Chief
Risk Officer, General Counsel, and
Secretary		   $ 231,509   $ 225,000   14,225   3,556  
Donald Chow   President of Desert Community
Bank		   $ 224,957   $ 142,000   8,535   2,134  
(1)
Performance restricted stock vesting in 2 years. Number of shares that will vest depends on meeting performance criteria. The restricted share awards represent the maximum number of shares that will be granted if pre-established earnings per share performance goals are met.

        Stock options are all non-qualified options issued under the 1998 Stock Incentive Plan of the Company; the restricted stock is also issued under the 1998 Stock Incentive Plan of the Company. Options vest over 4 years as follows: 1/3 after 2 years, 1/3 after 3 years, and 1/3 after 4 years. The restricted stock of the named officers other than the CEO vests 50% after 4 years and 50% after 5 years.

        The Company also approved performance goals for the CEO. The CEO's goals are set under the Performance-Based Bonus Plan approved by shareholders in 2002 and are based on earnings per share and return on equity; the bonus award will range from 0% to 250% of base salary.

        The Company will provide additional information regarding the compensation paid to the named executive officers for the 2007 fiscal year in its Proxy Statement for the 2008 Annual Meeting of Shareholders.



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NAMED EXECUTIVE OFFICER COMPENSATION