Ian Narev's bonus in the hands of CBA shareholders Ian Narev was paid a total of $7.8 million last financial year, his first full year in the job. Commonwealth Bank shareholders will be asked to approve a bonus of up to $4.28 million for chief executive Ian Narev at the bank's annual general meeting next month. The payment would be made under the bank's leadership reward program, which it says is designed to ""focus the efforts"" of the bank's most senior staff. Exactly how much Mr Narev gets will depend on the bank's performance compared with that of Australia's 20 largest listed companies, over the next four years and its customer satisfaction ratings. It would be paid in 2017. The country's biggest bank disclosed the grant of up to 62,966 award rights in its letter to shareholders ahead of the AGM next month. It comes after Mr Narev was paid a total of $7.8 million last financial year, his first full year in the job. The bank said the reward scheme, available to the bank's top executives, was intended to ""focus the efforts of participants to to support superior shareholders returns and customer satisfaction."" ""Reward rights entitle Mr Narev to receive shares or a cash equivalent, as determined by the board, subject to vesting criteria including the satisfaction of performance hurdles,"" the bank said. ""The reward rights will be granted at no cost to Mr Narev."" The notice to shareholders said 75 per cent of the reward would depend on the Commonwealth Bank's total shareholder return compared with other stocks in the ASX 20. If the bank was in the top quarter, this component of the bonus would be paid in full. If the bank's was in the middle, Mr Narev would get half of this portion of the payment. The remaining 25 per cent of the reward would depend on the bank obtaining the top customer satisfaction ratings, on average, across its varied customer base. Mr Narev, who has been the lowest-paid big bank boss, also received 78,681 reward rights at last year's annual general meeting, and the board is recommending shareholders again vote in favour of the payment. In the year to June, Commonwealth Bank shares rose 29 per cent and it lifted total dividends by 9 per cent to $3.64.