This excerpt taken from the UB DEF 14A filed Apr 13, 2007.
Policy on Post-Employment Benefits
Our policy on executive post-employment benefits is intended to reflect the overall approach to our employee population, as well as generally competitive executive practice and to assist in attraction and retention of talented executives to careers at UnionBanCal.
The Committee believes that our current policies represent comparable practice among our peer group and provide generally appropriate treatment in a variety of termination situations. These benefits and the different kinds of termination, which trigger them, are provided in the Other Potential Post-Employment Payments Tables and accompanying discussion. The Committee reviewed these policies in 2006, and intends to continue to monitor evolving competitive practice regarding the appropriate and competitive level of protection.