Performance Link Takes Bite Out of Execs’ Pay | Los Angeles Business Journal, 2010 June 7

http://bit.ly/bC0wMI

One look at East West Bancorp Inc.’s annual proxy statement says a
lot about the size of executive paychecks in 2009.

Dominic Ng, chief executive of the Pasadena bank holding company,
received $2.52 million in total company compensation last year, a sharp
drop from the $4.29 million he made in 2008.

But even that doesn’t tell the story.

A surprising footnote in the filing states that Ng didn’t actually
earn $4.29 million two years ago, because he never received $1.15
million in stock. That’s because the bank sustained some hits in the
financial crisis, negating his performance-related stock award.

Welcome to the wild world of executive compensation.

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