Exhibit 10.13


 


NAMED
EXECUTIVE OFFICER COMPENSATION


On February 26,
2007 the following adjustments to base salary, cash bonus payments for 2006
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
2007 Annual Meeting of Shareholders.  Adjustments to salary are effective as of
March 1, 2007.  Cash bonuses are paid on
or about March 5, 2007.


 


	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Shares of

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Non-Qualified

  	
   

  	
  Restricted

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  2007

  	
   

  	
  2006 Cash

  	
   

  	
  Stock

  	
   

  	
  Stock

  	
   

  
	
  Executive Officer

  	
   

  	
  Title

  	
   

  	
  Salary

  	
   

  	
  Bonus

  	
   

  	
  Options

  	
   

  	
  Award

  	
   

  
	
  Dominic
  Ng  

  	
   

  	
  Chairman of the Board,
  President

  and Chief Executive
  Officer

  	
   

  	
  $

  	
  800,000

  	
   

  	
  $

  	
  1,280,000

  	
   

  	
   

  	
  47,915

  	
   

  	
   

  	
  45,091 

  	
  (1)

  
	
  Julia
  Gouw 

  	
   

  	
  Executive Vice
  President and

  Chief Financial Officer

  	
   

  	
  $

  	
  289,385

  	
   

  	
  $

  	
  220,000

  	
   

  	
   

  	
  8,076

  	
   

  	
   

  	
  1,932

  	
   

  
	
  Wellington
  Chen 

  	
   

  	
  Executive Vice
  President and

  Director of Corporate
  Banking

  	
   

  	
  $

  	
  236,255

  	
   

  	
  $

  	
  180,000

  	
   

  	
   

  	
  8,076

  	
   

  	
   

  	
  1,932

  	
   

  
	
  David
  Spigner 

  	
   

  	
  Executive Vice
  President and

  Chief Strategic Officer

  	
   

  	
  $

  	
  224,952

  	
   

  	
  $

  	
  145,000

  	
   

  	
   

  	
  5,384

  	
   

  	
   

  	
  1,288

  	
   

  
	
  William
  Lewis   

  	
   

  	
  Executive Vice
  President

  Chief Credit Officer

  	
   

  	
  $

  	
  214,244

  	
   

  	
  $

  	
  150,000

  	
   

  	
   

  	
  6,460

  	
   

  	
   

  	
  —

  	
   

  







(1) Performance
restricted stock vesting in 2 years.  Number
of shares that will vest depends on meeting performance criteria.  The restricted shares 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 company performance goals and individual performance goals for the CEO
and the other named executive officers.  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 goals of the other named executives are
based 50% on overall corporate goals and 50% on individual department
performance goals.  The corporate goals
are earnings per share, growth in demand deposits, return on equity, return on
assets, growth in noninterest income, expense control, growth in trade finance
loans, growth in commercial business loans, and strategic/operational goals.


The Company will
provide additional information regarding the compensation paid to the named
executive officers for the 2006 fiscal year in its Proxy Statement for the 2007
Annual Meeting of Shareholders.