exv10w15



 






Exhibit 10.15




Named Executive Officer Salary, Bonus and Perquisite Arrangements for 2005




     Set forth below is a description of certain compensation arrangements for 2005 for the
following officers of ITLA Capital Corporation (the “Company”) and Imperial Capital Bank, referred
to below as the “named executive officers”: George W. Haligowski, Chairman of the Board, President
and Chief Executive Officer; Norval L. Bruce, Vice Chairman of the Board and Chief Credit Officer;
Timothy M. Doyle, Senior Managing Director and Chief Financial Officer; Don Nickbarg, Senior
Managing Director and Chief Banking Officer; Maria P. Kunac, Senior Managing Director and Chief
Lending Officer; and Scott Wallace, Managing Director — Finance and Treasurer.



Base Salaries




     Effective January 1, 2005, the base salaries of the named executive officers were set as
follows:



	 	 	 	 	 
	Name	 	Base Salary	 
	George W. Haligowski
	 	$	590,000	 
	Norval L. Bruce
	 	 	241,500	 
	Timothy M. Doyle
	 	 	225,000	 
	Don Nickbarg
	 	 	185,500	 
	Maria P. Kunac (1)
	 	 	185,000	 
	Scott Wallace
	 	 	162,000	 













	(1)	 	Ms. Kunac joined the Company on November 1, 2004.





2005 Executive Bonus Plan




     Under the Company’s 2005 Executive Bonus Plan, the named executive officers are eligible for
cash bonuses in the discretion of the Compensation Committee of the Company’s Board of Directors
based on their review of the Company’s performance and the individual’s performance in 2005, with
Mr. Haligowski providing recommendations for the bonus amounts for the named executive officers
other than himself. The maximum bonus for Mr. Haligowski was set at 150% of his base salary, and
the maximum bonuses for the other named executive officers were set at 50% of base salary, provided
that Mr. Haligowski may recommend to the Compensation Committee that Ms. Kunac’s bonus be increased
to 55% of her base salary.



Corporate Vehicle Program




     The Company maintains a corporate vehicle program, under which officers at or above the
First Vice President level are given the choice of the use of a Company-purchased vehicle, with the
Company covering the purchase cost up to a specified amount and the costs of operating



 









 







the vehicle (including insurance, gasoline, maintenance and repairs), or a monthly allowance
intended to cover the costs of the officer’s operation of his or her own vehicle for business use. On January 5,
2005, the maximum Company-covered purchase cost and monthly allowance options for the Managing
Director level and above were set as follows:



	 	 	 	 	 	 	 	 	 
	Officer Level	 	Max. Purchase Cost	 	Monthly Allowance
	Chief Executive Officer

	 	$	98,750	 	 	$	2,600	 
	Vice Chairman, Unit

	 	 	 	 	 	 	 	 
	President or Senior


	 	 	 	 	 	 	 	 
	Managing Director


	 	$	62,000	 	 	$	1,600	 
	Managing Director


	 	$	50,000	 	 	$	1,300	 







Additional Chief Executive Officer Compensation and Benefits




     Effective January 3, 2005, the Company transferred its timeshare interest in a resort club to
Mr. Haligowski as compensation. Based on an independent third party appraisal, the Company
determined that this timeshare interest had a fair market value at the time of transfer of
$175,000.



     Mr. Haligowski receives various perquisites and other personal benefits, including the use of
up to 35 hours of chartered aircraft services during 2005. The aggregate cost to the Company of
providing these perquisites and other personal benefits to Mr. Haligowski during 2005 is not
expected to exceed $250,000.




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