BofA says no 2010 cash bonuses for top executives

Bank of America Corp senior executives will not get a cash bonus for 2010 and Chief Executive Brian Moynihan will not receive a base salary increase in 2011, according to a securities filing on Monday.

The bank joins other major US lenders in tweaking its 2011 pay packages for senior executives. Moynihan will not receive a base salary increase from USD 950,000 and other named senior executives will not receive a cash incentive payment for 2010 performance, according to the filing with the Securities and Exchange Commission. The base pay for chief financial officer Charles Noski, investment banking chief Thomas Montag and consumer bank head Joe Price was raised to USD 850,000 from USD 800,000. The bank`s shares closed up 1% at USD 13.73 on the New York Stock Exchange.