Delaware | 000-15637 | 91-1962278 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
3003 Tasman Drive, Santa Clara, CA 95054-1191 |
(Address of principal executive offices) (Zip Code) |
Registrant’s telephone number, including area code: (408) 654-7400 |
Exhibit No. | Description |
10.1 | Offer Agreement, dated April 28, 2017, by and between Daniel Beck and the Company. |
10.2 | Letter Agreement, dated May 11, 2017, by and between Michael Descheneaux and the Company. |
99.1 | Press release dated May 12, 2017. |
Date: May 12, 2017 | SVB FINANCIAL GROUP | |||||
By: | /s/ KAMRAN HUSAIN | |||||
Name: | Kamran Husain | |||||
Title: | Chief Accounting Officer and Principal Accounting Officer |
Exhibit No. | Description |
10.1 | Offer Agreement, dated April 28, 2017, by and between Daniel Beck and the Company. |
10.2 | Letter Agreement, dated May 11, 2017, by and between Michael Descheneaux and the Company. |
99.1* | Press release dated May 12, 2017. |
* | This exhibit is intended to be furnished and shall not be deemed “filed” for purposes of the Securities Exchange Act of 1934. |
Sincerely, | ||
/s/ GREG BECKER | ||
Greg Becker | ||
President and Chief Executive Officer | ||
SVB Financial Group | ||
ACCEPTED BY, AS OF MAY 1, 2017: | ||
/s/ DANIEL J. BECK | ||
Daniel J. Beck | ||
Actual Start Date: June 5, 2017 |
• | If the termination occurs on or after the Effective Date through December 31, 2017, then you will receive two times (2x) your annual base salary (“Base Salary”) and annual target cash incentive compensation under our Incentive Compensation Plan (“Incentive Compensation”), both as in effect at that time; |
• | If the termination occurs on or after January 1, 2018 through July 1, 2018, then you will receive one and one-half times (1.5x) your Base Salary and target Incentive Compensation, both as in effect at that time; |
• | If the termination occurs on or after July 2, 2018 through December 31, 2018, then you will receive one times (1x) your Base Salary and target Incentive Compensation, both as in effect at that time; and |
• | If the termination occurs on or after January 1, 2019 through July 1, 2019, then you will receive one-half times (0.5x) your Base Salary and target Incentive Compensation, both as in effect at that time. |
Sincerely, | ||
/s/ GREG BECKER | ||
Greg Becker | ||
President and Chief Executive Officer | ||
SVB Financial Group | ||
ACCEPTED: | ||
/s/ MICHAEL DESCHENEAUX | ||
Michael Descheneaux | ||
Date: May 11, 2017 |
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