SEC Contract Filing

Filing Date: 2017-05-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101.htm
<DESCRIPTION>EXHIBIT 10.1
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<div><a name="sd9a896332adf462188015ac61ca7a75d"></a></div><div></div><div><br></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:center;"><img src="wallogoa03.jpg" alt="wallogoa03.jpg" style="height:106px;width:238px;"></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#808080;">Robert Sarver</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#808080;">Chairman &amp; Chief Executive Officer</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#808080;">rsarver@westernalliancebank.com</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">May 1, 2017</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Kenneth A. Vecchione</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5312 North Wilkinson Road</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Paradise Valley, Arizona 85253</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Subject:</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;Terms of Employment</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dear Ken:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This letter sets forth our agreement regarding the terms of your employment to fill the position of President of Western Alliance Bank (&#8220;WAB&#8221;) and Western Alliance Bancorporation (&#8220;WAL&#8221;) (collectively WAB and WAL are the &#8220;Company&#8221;), and subsequently to fill the position of CEO.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:156px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">Position/Duties:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">You will become an employee of the Company on July 10, 2017 (&#8220;Employment Date&#8221;), and will serve initially as President of the Company, reporting to Robert Sarver, the Company&#8217;s Chairman &amp; CEO, and transition into the role of CEO. You will continue to serve as a director of both WAL and WAB</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">1</sup></font><font style="font-family:inherit;font-size:10pt;">. Upon appointment as CEO, you will report to the WAL Board of Directors, and Mr. Sarver will assume the role of Executive Chairman. </font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:157px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:1px;"><font style="font-family:inherit;font-size:10pt;">Base Salary:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning on your Employment Date, your annualized base salary will be $1,000,000, paid on the Company&#8217;s regular payroll schedule and subject to all applicable withholding. Beginning in 2018, your annual base salary will increase as follows:</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:156px;font-size:10pt;"><font style