CVB FINANCIAL CORP. (NASDAQ:CVBF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December8, 2017, CVB Financial Corp. and its principal subsidiary, Citizens Business Bank (together, the “Company”), executed respective Amended and Restated Severance Compensation Agreements (the “Agreement”) that are effective January1, 2018 with the following named executives of the Company: E. Allen Nicholson, Executive Vice President and Chief Financial Officer, David A. Brager, Executive Vice President and Sales Division Manager, David F. Farnsworth, Executive Vice President and Chief Credit Officer, David C. Harvey, Executive Vice President and Chief Operations Officer. Each of the Agreements sets forth the applicable compensation which the Company agrees it will pay to the named executive upon a Change in Control and subsequent termination of the named executive’s employment or resignation for good reason by the named executive.
Item 5.02 Financial Statements and Exhibits.
(d) Exhibits
|
ExhibitNo. |
Description |
| 10.1 | Amended and Restated Severance Compensation Agreement by and between E. Allen Nicholson and Citizens Business Bank, dated December8, 2017. |
| 10.2 | Amended and Restated Severance Compensation Agreement by and between David A. Brager and Citizens Business Bank, dated December8, 2017. |
| 10.3 | Amended and Restated Severance Compensation Agreement by and between David F. Farnsworth and Citizens Business Bank, dated December8, 2017. |
| 10.4 | Amended and Restated Severance Compensation Agreement by and between David C. Harvey and Citizens Business Bank, dated December8, 2017. |
Exhibit Index
CVB FINANCIAL CORP ExhibitEX-10.1 2 d508364dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 [AMENDED AND RESTATED] SEVERANCE COMPENSATION AGREEMENT This [Amended and Restated] Severance Compensation Agreement (the “Agreement”) is entered into this 1st day of January,…To view the full exhibit click here
About CVB FINANCIAL CORP. (NASDAQ:CVBF)
CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank’s segments include Business Financial and Commercial Banking Centers (Centers), Treasury and Others. The Company’s all administrative and other smaller operating departments are combined into the Other segment. Its remaining operating segments, which include construction lending, dairy and livestock, and agribusiness lending, leasing, CitizensTrust and centralized functions, form part of the Other segment. The Treasury Department’s primary focus is managing the Bank’s investments, liquidity and interest rate risk. The Bank operates approximately 40 Business Financial Centers, eight Commercial Banking Centers, and three trust offices. Its trust offices are located in Ontario, Newport Beach and Pasadena. These offices serve as sales offices for the Bank’s wealth management, trust and investment products. The Company also offers specialized services designed for commercial customers.
