SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 16, 2005
CENTRAL VALLEY COMMUNITY BANCORP
(Exact Name of Registrant as Specified in Charter)
California (State or Other Jurisdiction of Incorporation) | | 000-31977 (Commission File Number) | | 77-0539125 (IRS Employer Identification No.) |
600 Pollasky Avenue, Clovis, California (Address of Principal Executive Offices) | | | | 93612 (Zip Code) |
Registrant’s telephone number, including area code: (559) 298-1775
(Former Name or Former Address, if Changed Since Last Report) Not Applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement
On March 16, 2005, the Executive and Directors Resource Committee of the Board of Directors of Central Valley Community Bank, the wholly owned subsidiary of Central Valley Community Bancorp (“Company”) recommended to the Board of Directors, and the Board approved, amendments to the existing Salary Continuation Agreements for certain members of senior management.
The amendments provide each executive with an additional annual retirement benefit of $10,000. These payments continue for a period of 15 years commencing with the first month after the executive’s retirement date. The amended agreements also provide for the annual benefit amount to be increased by three percent (3%) from the previous years benefit amount.
Item 9.01 Exhibits
(c) Exhibits.
10.1 Copies of “Amendment No. 1 to Salary Continuation Agreement” will be filed with the Company’s March 31, 2005 Form 10-Q.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Central Valley Community Bancorp |
| | |
Date: March 18, 2005 | By: | /s/ Daniel J. Doyle | |
| | Name: Daniel J. Doyle |
| | Title: Chairman and Chief Executive Officer (principal executive officer) |
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