Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - CVB FINANCIAL CORP | v55365e10vk.htm |
| EX-21 - EX-21 - CVB FINANCIAL CORP | v55365exv21.htm |
| EX-23 - EX-23 - CVB FINANCIAL CORP | v55365exv23.htm |
| EX-12 - EX-12 - CVB FINANCIAL CORP | v55365exv12.htm |
| EX-32.1 - EX-32.1 - CVB FINANCIAL CORP | v55365exv32w1.htm |
| EX-99.2 - EX-99.2 - CVB FINANCIAL CORP | v55365exv99w2.htm |
| EX-31.2 - EX-31.2 - CVB FINANCIAL CORP | v55365exv31w2.htm |
| EX-31.1 - EX-31.1 - CVB FINANCIAL CORP | v55365exv31w1.htm |
| EX-99.1 - EX-99.1 - CVB FINANCIAL CORP | v55365exv99w1.htm |
| EX-32.2 - EX-32.2 - CVB FINANCIAL CORP | v55365exv32w2.htm |
| EX-10.21(A) - EX-10.21(A) - CVB FINANCIAL CORP | v55365exv10w21xay.htm |
| EX-10.21(B) - EX-10.21(B) - CVB FINANCIAL CORP | v55365exv10w21xby.htm |
EXHIBIT 10.7
CVB FINANCIAL CORP.
DISCRETIONARY PERFORMANCE COMPENSATION PLAN SUMMARY
2009
DISCRETIONARY PERFORMANCE COMPENSATION PLAN SUMMARY
2009
The CVB Financial Corp. Performance Compensation Plan is an objective driven incentive plan based
on quantitative measures of performance. It is intended to recognize successful performance by the
participants in the plan. Awards are most strongly influenced by return on average equity, since it
is our primary criterion for results. This will be complemented by specific objectives in other
areas of performance, which are most directly influenced by the individual plan participants. This
performance compensation plan is discretionary and the Compensation Committee of the Board (“the
Committee”) reserves the right to adjust or modify the plan as they consider appropriate.
Performance awards are governed primarily by return on average equity. Minimum, target and maximum
performance compensation awards will be based on the level of success achieved during the year as
outlined in the Financial Plan for 2009.
The performance compensation awards will be presented by February 28, 2010. An associate must be
actively employed by the Company when the award checks are issued in order to receive the award.
All awards will be approved by the Committee, and the Committee retains the right to adjust or
revoke the plan at any time during the year.
The Committee reserves the right to 1) grant bonuses where bonuses have not been earned under the
guidelines of this plan and/or 2) adjust bonus allocations either upward or downward based on their
judgment of an individual’s overall contribution to the Company for the year.
SENIOR LEADERSHIP COMMITTEE PERFORMANCE COMPENSATION PLAN
Senior Leadership Committee performance compensation will be based on the return on average equity
for the Company and on their individual performance categories. The related weights or values
assigned to return on equity and the individual performance categories will depend on the position
and responsibilities of the executive. Performance levels and the respective awards are outlined in
the 2009 Individual Performance Compensation Plan.
For our President and Chief Executive Officer and each of our executive officers (other than the
executive in charge of our trust department), performance compensation will be based on the
following individual categories:
Return on Average Equity
Earnings Growth
Demand Deposits
Total Deposits including Repos
Business Loans
Total Loans
Fee Income
Non-Interest Income
Earnings Growth
Demand Deposits
Total Deposits including Repos
Business Loans
Total Loans
Fee Income
Non-Interest Income
The members of this group are currently: Messrs. Myers, Biebrich, Dowd and Hollander. The total
compensation which may be earned by Mr. Myers is between 75% and 150% of his base salary. The total
performance compensation which may be earned by each of Messrs. Biebrich, Dowd, and Hollander is
between 25% and 75%.
For Christopher A. Walters, Executive Vice President — CitizensTrust, performance compensation
will be based on the following individual categories:
Return on Average Equity
Wealth Management Fees
Investment Services Fees
Net Earnings of CitizensTrust
Managed Assets
Wealth Management Fees
Investment Services Fees
Net Earnings of CitizensTrust
Managed Assets
The total performance compensation which may be earned by Mr. Walters is between 25% and 75%.