BANCO BILBAO VIZCAYA ARGENTARIA, S.A. AND ... - BBVA

• REMUNERATION OF EXECUTIVE DIRECTORS
The remuneration paid to individual executive directors in the six months ended June 30, 2010 is indicated
below, broken down by type of remuneration:
Remuneration of Executive Directors
Six-month ended June 30, 2010
Fixed
Remuneration
Thousand of Euros
Variable
Remuneration (*)
Chairman and CEO 964 3,388 4,352
President and COO 624 1,482 2,106
Total (**) 1,588 4,870 6,458
(*) The figures relate to variable remuneration for 2009 paid in 2010.
(**) Additionally, the executive directors have received in six month ended June 30,2010 "in kind" remuneration and others
for a whole total sum of €26 thousand, from which €10 thousand correspond to the Chairman and CEO
Total
• REMUNERATION OF THE MEMBERS OF THE MANAGEMENT COMMITTEE (*)
The remuneration paid in the January 1 to June 30, 2010 period to the members of BBVA’s Management
Committee amounted to €3,401 thousand in fixed remuneration and €14,200 thousand in variable
remuneration accrued in 2009 and paid in 2010.
Additionally, the members of the Management Committee have received during the January 1 to June 30,
2010 period, in kind remuneration and others for the sum of €252 thousand.
(*) This section includes information on the members of the Management Committee as of June 30, 2010, excluding the executive directors.
• VARIABLE MULTI-YEAR STOCK REMUNERATION PROGRAM FOR 2009-2010 FOR EXECUTIVE DIRECTORS AND
MEMBERS OF THE MANAGEMENT COMMITTEE
BBVA has a variable multi-year remuneration scheme in place as part of the remuneration policy established
for its executive team, including executive directors and members of the Management Committee. It is based
on the award of Bank shares that are instrumented through annual overlapping medium- and long-term
programs. These consist of allocating individuals theoretical shares ("units") that at the end of each program
are converted into real BBVA shares, provided certain initially established conditions are met, with the
number depending on a scale linked to an indicator of value generation for the shareholder, and dependent
on the individual performing well during the period the program is in operation.
MULTI-YEAR VARIABLE SHARE-BASED REMUNERATION PLAN FOR 2009-2010
The Annual General Meeting of the Bank on March 13, 2009, approved a multi-year variable share-based
remuneration scheme for 2009-2010 (hereinafter “the 2009-2010 Program”) aimed at members of the BBVA
executive team. It is to end on December 31, 2010 and will be settled on April 15, 2011, notwithstanding the
provisions included in its Regulation for early settlement.
The precise number of shares to be given to each beneficiary of the 2009-2010 program is calculated by
multiplying the number of units allocated by a coefficient of between 0 and 2. This coefficient reflects the
relative performance of BBVA’s total stockholder return (TSR) during the period 2009-2010 compared with
the TSR of a group of the Bank’s international peers.
The number of “units” allocated to executive directors under this program, in accordance with the resolution
of the AGM, was 215,000 for the Chairman and CEO, and 131,707 for the President and COO (**).
The total number of units assigned under this program to the Management Committee members who held
this position on June 30, 2010, excluding executive directors, was 817,464.
(**) In addition, the previous Company Secretary, Mr. José Maldonado Ramos, has 29,024 “units”, which were allocated to him as an executive of the Bank
at the start of the program. The amount initially allocated was reduced as a result of his retirement as an executive of the Bank, using a sliding scale for the
time he worked as an executive and the total duration of the program.
MULTI-YEAR VARIABLE SHARE-BASED REMUNERATION PLAN FOR 2010-2011
The Annual General Meeting of the Bank on March 12, 2010, approved a new multi-year variable sharebased
remuneration scheme for 2010-2011 (hereinafter “the 2010-2011 Program”) aimed at members of the
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