EXHIBIT 10.1

FIRST AMENDMENT TO THE
AGREEMENT AND PLAN OF REORGANIZATION AND MERGER

          This First Amendment (“Amendment”) to the Agreement and Plan of
Reorganization and Merger dated October 6, 2006 (the “Original Agreement”) is
entered as of December 1, 2006, by and among United Security Bancshares, a
California corporation (“Bancshares”); United Security Bank, a California
banking corporation and wholly-owned subsidiary of Bancshares (“USB”) and Legacy
Bank, N.A. a national banking association (“Legacy”).

RECITALS:

          WHEREAS, Bancshares, USB and Legacy entered into the Original
Agreement, and the parties desire to amend the Original Agreement by this
Amendment to lift the $25 cap on the Average Closing Price as defined in the
Original Agreement.

          NOW, THEREFORE, in consideration of these premises and mutual
covenants herein contained, Bancshares, USB and Legacy hereby agree as follows:

          1.          Definition of Average Closing Price.  The definition of
“Average Closing Price” in the Definitions section of Article I of the Original
Agreement is amended in its entirety as follows:

 

“Average Closing Price” shall mean the average of the daily closing price of a
share of Bancshares Common Stock reported on the NASDAQ Global Select Market
during the 20 consecutive trading days ending at the end of the fifth trading
day immediately preceding the Effective Time, provided that in no event shall
the Average Closing Price be more than $25.00.

          2.          Condition to Closing.  Section 7.1.6 of the Original
Agreement is amended to read in its entirety as follows:

          7.1.6  The Average Closing Price shall not be less than $20.00.

          3.          References.  Upon execution and delivery of this
Amendment, all references in the Original Agreement to the “Agreement,” and the
provisions thereof, shall be deemed to refer to the Original Agreement, as
amended by this Amendment.

          4.          No Other Amendments or Changes.  Except as expressly
amended or modified by this Amendment, all of the terms and conditions of the
Original Agreement shall remain unchanged and in full force and effect.

          5.          Definitions.  All capitalized terms used herein and not
otherwise defined or amended shall have the meanings given to them in the
Original Agreement.

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          IN WITNESS WHEREOF, Bancshares, USB and Legacy have caused this
Amendment to be signed by their respective officers thereunto duly authorized,
all as of the date first above written.

United Security Bancshares

 

Legacy Bank

 

 

 

 

 

 

 

 

 

 

By:

/s/ Ronnie D. Miller

 

By:

Gary L. Hong

 

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Name:

Ronnie D. Miller

 

Name:

Gary L. Hong

 

 

 

 

 

 

 

 

 

 

By:

/s/ Dennis R. Woods

 

By:

Thomas E. Ray

 

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Name:

Dennis R. Woods

 

Name:

Thomas E. Ray

 

 

 

 

 

United Security Bank

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ Ronnie D. Miller

 

 

 

 

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Name:

Ronnie D. Miller

 

 

 

 

 

 

 

 

By:

/s/ Dennis R. Woods

 

 

 

 

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Name:

Dennis R. Woods

 

 

 

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