-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HJWI/ZC70S4OffFxsrlkbaN+eas36dMbFS6oSQKfve7EfZ8zt70gChXmOMLoSyui t3GtaDy3+9UUa/0z88Yrew== 0001019687-08-000792.txt : 20080226 0001019687-08-000792.hdr.sgml : 20080226 20080226144248 ACCESSION NUMBER: 0001019687-08-000792 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080220 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20080226 DATE AS OF CHANGE: 20080226 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Belvedere SoCal CENTRAL INDEX KEY: 0001393534 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 208356735 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-141453 FILM NUMBER: 08642545 BUSINESS ADDRESS: STREET 1: 1 MARITIME PLAZA, SUITE 825 CITY: SAN FRANCISCO STATE: CA ZIP: 94546 BUSINESS PHONE: 415-434-1236 MAIL ADDRESS: STREET 1: 1 MARITIME PLAZA, SUITE 825 CITY: SAN FRANCISCO STATE: CA ZIP: 94546 8-K 1 belvedere_8k-022508.htm BELVEDERE SOCAL belvedere_8k-022508.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549


FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934


Date of report (Date of earliest event reported)      February 20, 2008             

Belvedere SoCal

(Exact Name of Registrant as Specified in Its Charter)

California

(State or Other Jurisdiction of Incorporation)
 
333-141453
 
20-8356735
(Commission File Number)
 
(IRS Employer Identification No.)
     
     
1 Maritime Plaza, Suite 825, San Francisco, CA
 
94111
(Address of Principal Executive Offices)
 
(Zip Code)
 

(415) 434-1236

 (Registrant’s Telephone Number, Including Area Code)



 (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o                 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o                 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o                 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o                 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

 

  Section 5 - Corporate Governance and Management

Item 5.02  
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(e)
On February 20, 2008, the Company entered into an employment agreement with its Executive Chairman, Alan Lane.  The agreement is for a term of five years, commencing as of November 23, 2007.  Mr. Lane will be paid a base salary of $180,000 per year, subject to annual review, and he will be eligible for a discretionary bonus through the Company’s incentive bonus plan available to senior executives.  In addition, the agreement provides for a grant of stock options equal to 2.5% of the Company’s common stock outstanding as of the closing of the acquisition of Spectrum Bank (January 31, 2008), along with 2.5% of the increase in the Company’s common stock resulting from the close of any subsequent acquisition during the period that Mr. Lane’s employment agreement is in effect.  Finally, Mr. Lane’s agreement allows him to participate in the Company’s benefit plans generally available to senior executives, including health insurance, 401(k) plan, and paid time off.  In the event that Mr. Lane is terminated without cause, he is entitled to severance benefits equal to approximately one year of compensation.


Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Date: February 25, 2008
 
Belvedere SoCal
     
     
 
By:
/s/ Alison Davis
 
 
Alison Davis
 
Chief Executive Officer
(Principal Executive Officer)


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