EX-10.16



 Exhibit 10.16 

CHANGE OF CONTROL SEVERANCE COMPENSATION AGREEMENT 

This CHANGE OF CONTROL SEVERANCE COMPENSATION AGREEMENT, dated as of September 17, 2007 (the “Agreement”), is made by and
between KELLER FINANCIAL GROUP, a California corporation (the “Company”) and John M. Michel (the “Executive”), with reference to the following facts and circumstances: 

R  E  C  I  T  A  L  S: 

A.       The Company’s Board of Directors has determined that it is appropriate and in the Company’s
best interests to reinforce and encourage the continued attention and dedication of key members of the management of the Company and its material subsidiaries, who include the Executive, to their assigned duties without distraction in potentially
disturbing circumstances that would arise in the event of a threatened or actual Change in Control (as hereinafter defined) of the Company or such subsidiaries and thereby also provide the Company with greater assurance that it will be able to
retain the key members of management, including Executive, in the employ of the Company or a material subsidiary (as the case may be) in the event of any threatened or actual Change in Control; and 

B.       This Agreement sets forth the severance compensation which the Company agrees it will pay, or if
Executive’s employment is with First Foundation Bank (the “Bank”), that the Company will cause the Bank to pay, to Executive, if his or her employment terminates under one of the circumstances described herein following a Change in
Control of the Company or the Bank. 
 C.       Executive is employed as the Executive Vice
President & Chief Financial Officer of the Bank under an Executive Employment Agreement of even date herewith (the “Employment Agreement”). This Change of Control Severance Compensation Agreement sets forth the rights and
obligations of the Company and Executive in the event of a termination of Executive’s employment, for Good Reason (as defined below), that is attributable to, or that occurs concurrently with or within twenty-four (24) months following, a
Change in Control. On the other hand, the Employment Agreement, rather than this Agreement, governs and determines the severance compensation to which Executive would be entitled upon any other termination of Executive’s employment. 

NOW, THEREFORE, it is agreed as follows: 

1.       Definitions. The following terms shall have the respective meanings ascribed to them below in
this Section 1: 
 1.1       The terms “affiliate” and “associate”
shall have the respective meanings given to such terms in Rule 12b-2 under the Exchange Act (even if the Company has no securities registered under that Act). 

1.2       The terms “beneficial ownership,” “beneficially owned” and
“beneficial owner” shall have the meanings given to such terms in Rule 13d-3 under the Exchange Act (even if the Company has no securities registered under that Act). 

1.3       The term “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 1.4       The term “Parent” of a corporation or other entity means any person that is the
beneficial owner, directly or indirectly, of a majority of the Voting Securities of that corporation or other entity. 

  








 1.5       The term “Voting Securities” of any
person that is a corporation means the combined voting power of that person’s then outstanding securities having the right to vote in an election of that person’s directors. The term “Voting Securities” of any person, other than
a corporation, such as a partnership or limited liability company, shall mean the combined voting power of that person’s outstanding ownership interests that are entitled to vote or select the individuals (such as the managers of a limited
liability company) that have substantially the same authority or decision-making powers with respect to such person that are generally exercisable by directors of a corporation. 

1.6       The term “Common Stock” of the Company shall mean the shares of the Company’s
common stock, par value $0.001 per share, and any voting securities into which such shares may be converted or exchanged in any merger, consolidation, reorganization or recapitalization of the Company. 

1.7       The term “person” shall have the meaning given to such term in Section 13(d)
and Section 14(d) of the Exchange Act (even if the Company has no securities registered under that Act) and, therefore, the term “person” shall include any two or more persons acting together, whether as a partnership, limited
partnership, joint venture, syndicate or other group, at least one of the purposes of which is to acquire, hold or dispose of beneficial ownership of securities of the Company or the Bank. The term “person also shall include any natural person,
any corporation, limited liability company, general or limited partnership, joint venture, trust, estate, or unincorporated association. 

1.8       The term “Change in Control” of the Company shall mean the occurrence of any of the
following: 
 (a)       Any person who (together with all of such person’s affiliates and associates)
shall, at any time become the beneficial owner, directly or indirectly, of more than twenty-five percent (25%) of the Company’s Voting Securities Company, except (i) the Company or any of its subsidiaries, (ii) any trustee,
fiduciary or other person or entity holding securities under any employee benefit plan or trust of the Company or any of its subsidiaries or (iii) Ulrich E. Keller, Jr. (collectively, the Exempt Owners”); or 

(b)       There shall be consummated any consolidation, merger, or reorganization (as such term is defined in
the California Corporations Code), of the Company with or into another person, or of another person with or into the Company, in which the holders of the Company’s outstanding Voting Securities immediately prior to the consummation of such
consolidation, merger or reorganization would not, immediately after such consummation, own beneficially, directly or indirectly, (in the aggregate) at least sixty percent (60%) of the Voting Securities of (i) the continuing or surviving
person in such merger, consolidation or reorganization (whether or not that is the Company) or (ii) the ultimate Parent, if any, of that continuing or surviving person; or 

(c)       There shall be consummated any consolidation, merger or reorganization of the Bank with or into
another person, or of another person with or into the Bank, unless the persons that were the holders of the Company’s Voting Securities immediately prior to such consummation would have, immediately after such consolidation, merger or
reorganization, substantially the same proportionate direct or indirect beneficial ownership of at least sixty (60%) of the Voting Securities of (i) the continuing or surviving person in such consolidation, merger or reorganization
(whether or not that is the Bank) or, (ii) the ultimate Parent, if any, of that continuing or surviving person; or 

(d)       There shall be consummated any sale, lease, exchange or other transfer (in one transaction or a
series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of the Company or of the Bank; provided, however, that in the case of a sale of all or substantially all of the
assets of the Company or the Bank, the holders of the Company’s 

  
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outstanding Voting Securities immediately prior to the consummation of such sale of assets would not, immediately after such consummation, own beneficially, directly or indirectly, (in the
aggregate) at least sixty percent (60%) of the Voting Securities of (i) person acquiring such assets or (ii) the ultimate Parent, if any, of that person; or 

(e)       The holders of the Voting Securities of the Company approve any plan or proposal for the liquidation
or dissolution of the Company, unless the plan of liquidation provides for all or substantially all of the assets of the Company to be transferred to a person in which the holders of the Company’s Voting Securities immediately prior to such
liquidation have or will have, immediately after such liquidation, substantially the same proportionate direct or indirect beneficial ownership of at least sixty percent (60%) of the Voting Securities of such person; or 

(f)       During any period of two (2) consecutive years during the term of this Agreement, individuals
who at the beginning of that two year period constituted the entire Board of Directors of the Company do not, for any reason, constitute a majority thereof, unless the election (or the nomination for election) by the holders of the Company’s
Voting Securities, of each director who was not a member of the Board of Directors at the beginning of that two year period was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of
the two year period. 
 Notwithstanding the foregoing: 

(x)       a “Change in Control” shall not be deemed to have occurred within the meaning of Paragraph
1.8(a) above solely as the result of an acquisition of Voting Securities by the Company or any subsidiary thereof that has the effect of (i) reducing the number of the Company’s outstanding Voting Securities, and (ii) as a result,
increasing the beneficial ownership of the Company’s Voting Securities by any person to more than twenty-five percent (25%) of the Company’s outstanding Voting Securities; provided, however, that, if any such person
shall thereafter become the beneficial owner of any additional Voting Securities of the Company (other than pursuant to a stock split, stock dividend, or similar transaction or as a result of an acquisition of securities directly from the Company)
and immediately thereafter beneficially owns more than twenty-five percent (25%) of the then outstanding Voting Securities of the Company, then, a “Change of Control” shall be deemed to have occurred for purposes of this Agreement;
and 
 (y)       a “Change in Control” shall not be deemed to have occurred within the meaning of
this Section 1.8, by reason of (i) a consolidation, merger or reorganization of the Company or the Bank, (ii) a sale, lease, exchange or other transfer (in one transaction or a series of transactions contemplated or arranged by any
party as a single plan) of all or substantially all of the assets of the Company or the Bank, (iii) a change in the composition of the Board of Directors of the Company of the nature contemplated by Paragraph 1.8(f) above, or (iv) the
appointment of a conservator or receiver for the Bank, if such transaction, change in Board composition or appointment, as the case may be, was required pursuant to an order issued by the Office of Thrift Supervision (the “OTS”), or by any
other federal or state financial institution regulatory agency having jurisdiction over the Company or the Bank. 

1.9       The term “Employer” means whichever of the Company or Bank is the principal employer
of Executive. 
 1.10       The term “Code” means the Internal Revenue Code of 1986, as
amended, and any successor statute thereto. 

  
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 2.       Term. The term of this Agreement shall commence on
the date hereof and, subject to earlier termination pursuant to Section 6 hereof, shall end three (3) years following the date on which notice of non-renewal or termination of this Agreement is given
by either the Company or Executive to the other. Thus, this Agreement shall renew automatically on a daily basis so that the outstanding term is always three (3) years following any effective notice of
non-renewal or of termination given by the Company or Executive, other than in the event of a termination pursuant to Section 6 hereof. 

3.       Change in Control. No compensation shall be payable under this Agreement unless and until
(i) there has been a Change in Control of the Company (as hereinafter defined) while the Executive is still an officer of the Company or the Bank, and (ii) the Executive’s employment by the Company or the Bank terminates under any of
the circumstances or for any of the reasons set forth in Section 4 below. 
 4.       Termination by
Executive for Good Reason. If (i) a Change in Control of the Company occurs while the Executive is still employed as an officer of the Company or the Bank or the surviving or continuing person in any such Change in Control, and
(ii) any of the following events (each a “Good Reason Event”) shall occur (that is not consented to by Executive) as a result or at the time or within 12 months of the consummation of such Change in Control, then, Executive
shall be entitled to the compensation provided in Section 5 of this Agreement, provided that he gives the Company written notice of the termination of his/her employment and of all positions he/she may have with the Company and the Bank for
“Good Reason” within forty-five (45) days following the occurrence of any such Good Reason Event. 

4.1       Reduction or Adverse Change of Responsibilities, Authority, Etc. The scope of Executive’s
authority or responsibilities is significantly reduced or diminished or there is an change in Executive’s position or title as an officer of the Company or the Bank, or both, that constitutes or would generally be considered to constitute a
demotion of Executive, unless such reduction, diminution or change is made as a consequence of (i) Executive’ disability (determined as provided in Section 6(e) of the Employment Agreement), or (ii) any acts or omissions of
Executive which would entitle the Company or Bank to terminate Executive’s employment for Cause (as defined in Section 6(a) of the Employment Agreement); or 

4.2       Reduction in Base Salary. Executive’s Base Annual Salary (as defined in his Employment
Agreement and as in effect immediately prior to the consummation of the Change in Control) is reduced, unless such reduction is made (i) as part of an across-the-board cost cutting measure that is applied equally or proportionately to all
senior executives of the Employer, or (ii) as a result of Executive’s Disability (determined as provided in Section 6(e) of the Employment Agreement), or any acts or omissions of Executive which would entitle Employer to terminate
Executive’s employment for Cause (as defined in Section 6(a) of the Employment Agreement); 

4.3       Discontinuance or Reduction of Bonus Opportunity Under Bonus Compensation Plan.
Executive’s bonus and/or incentive compensation award opportunity under any incentive or bonus compensation plan or program in which he is participating immediately prior to the consummation of the Change of Control is discontinued or
significantly reduced, unless such discontinuance or reduction (i) is expressly permitted under the terms of such plan or program, or (ii) is a result of a policy of Employer applied equally or proportionately to all senior executives of
Employer participating in such plan or program, or (iii) is the result of the replacement of such plan or program with another bonus or incentive compensation plan in which Executive is afforded substantially comparable bonus or incentive
compensation opportunities; 
 4.4       Discontinuance of Participation in Employee Benefit Plans.
Executive’s participation in any other benefit plan maintained by the Company or Employer in which Executive was 

  
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participating immediately prior to the consummation of the Change of Control (including any vacation program) is terminated or the benefits that had been afforded under any such benefit plan are
significantly reduced, unless such discontinuance or reduction (as the case may be) is (i) expressly permitted by the terms of that plan or program, or (ii) due to a change in applicable law or the loss or reduction in the tax
deductibility to Employer of the contributions to or payments made under such plan, or (iii) the result of a policy of Employer or the Company that is applied equally or proportionately to all senior executives participating in such benefit
plan, or (iv) the result of the adoption of one or more other benefit plans providing reasonably comparable benefits (in terms of value) to Executive; or 

4.5       Relocation. The relocation of Executive to an office that located more than thirty
(30) miles from Executive’s principal office location prior to the consummation of the Change of Control or to an office that is not the headquarters office of Executive’s employer (other than for temporary assignments or required
travel in connection with the performance by Executive of his/her duties for Employer or the Company); or 

4.6       Breach of Agreements. A breach by the Company or Employer of any of its material obligations
to Executive under the Employment Agreement or this Agreement which continues uncured for a period of thirty (30) days following written notice thereof from Executive. 

5.       Severance Compensation upon Termination of Employment for Good Reason. Subject to
Section 5.4 and Section 7 below, upon a termination of Executive’s employment by Executive pursuant to Section 4 hereof (a “Good Reason Termination”), then: 

5.1       Change of Control Severance Compensation. Subject to Section 5.4 below, in lieu of any
further salary and bonus payments or other payments that would otherwise be due to Executive under the Employment Agreement, or otherwise, for periods subsequent to the date of such Good Reason Termination, Executive shall become entitled to receive
the following severance compensation and benefits: 
 (a)       Employer shall pay the Executive all amounts
owed through the date of Executive’s Good Reason Termination; and 
 (b)       Employer also shall pay
to Executive, at the applicable time set forth in Section 5.3, an amount equal to the product of two (2) times the sum of (i) Executive’s Base Annual Salary in effect as of the date of termination and (ii) an amount equal to
the Maximum Bonus Award (as hereinafter defined) payable to Executive under any incentive or bonus compensation plan in which he/she was participating at the time of such termination of employment, which amount shall be paid as provided in
Section 5.3 hereof. For purposes hereof, the term “Maximum Bonus Award” shall mean the amount of the bonus compensation that would be paid to Executive under such incentive or bonus compensation plan assuming that all
performance goals or targets required to have been achieved as a condition of the payment of the maximum bonus under such plan were achieved and all other conditions precedent to the payment of such bonus compensation were satisfied. 

(c)       All options to purchase stock of the Company granted to the Executive that had not vested as of the
date of such Good Reason Termination shall vest effective immediately prior to such termination. 
 (d)      
All restricted stock awards, restricted stock unit awards, and other forms of equity-based compensation awards granted to the Executive, which had not vested as of the date of such Good Reason Termination, shall vest effective immediately prior to
such termination. 

  
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 (e)       The Company or the Bank shall maintain in full force and
effect, during the period commencing on the date of such Good Reason Termination and ending on the December 31 of the second calendar year following the calendar year in which such termination occurred (the “Benefit Continuation
Period”), all employee medical, dental and vision plans and programs, disability plans and programs and all life insurance programs in which the Executive and/or his/her family members were entitled to participate or under which they were
entitled to receive benefits immediately prior to the date of the occurrence of the Good Reason Event, provided, however, that if such continued participation is prohibited under the general terms and provisions of such plans and
programs, then, the Company or the Bank shall, at its expense, arrange for substantially equivalent benefits to be provided to Executive and/or his/her family members during the Benefit Continuation Period. Notwithstanding the foregoing, however,
there shall only be included as benefits to which Executive and/or his/her family members shall be entitled under this Paragraph 5.1(e), and Executive and/or such family members shall only be entitled to, those benefits if the plans or programs in
which Executive or his/her family members were participating immediately prior to the occurrence of the Good Reason Event were exempt from the term “nonqualified deferred compensation plan” under Section 409A of the Code. 

Notwithstanding any other provision in this Agreement to the contrary, under no circumstances, shall the Executive be permitted to exercise
any discretion to modify the vesting of an award or the amount, timing or form of payment or benefit described in this Section 5.1. 

5.2        Timing and Manner of Payment. The amount that becomes payable to Executive pursuant to
Section 5.1(b) above shall be paid as follows: 
 (a)       If, on the date that the Executive
terminates his/her employment for Good Reason pursuant to Section 4 above, the Company is a reporting company under the Exchange Act, then Executive will be entitled to receive such payment in a single lump sum on the first business day that
occurs at the end of the period commencing on the date of that termination and ending six months after the last day of the calendar month in which the date of termination occurred (e.g., if Executive were to terminate his/her employment for Good
Reason on March 15, 2008, for example, then Employer would be required to pay the amount specified in Section 5.1(b) on the first business day immediately following September 30, 2008); or 

(b)       If, however, the Company is not a reporting company under the Exchange Act at the time the Executive
terminates his/her employment for Good Reason pursuant to Section 4 above, then Executive shall be entitled to receive such payment in a single lump sum on the fifth (5th) business day following such termination of employment. 

5.3        No Requirement of Mitigation. The Executive shall not be required to mitigate the amount
of any payment or benefit provided for in this Section 5 by seeking other employment or otherwise, nor shall any compensation or other payments received by the Executive from other persons after the date of termination reduce any payments due
under this Section 5. 
 5.4        Limitation. 

(a)       Anything in this Agreement to the contrary notwithstanding, if any compensation, payment, benefit or
distribution by the Company or Employer Bank to or for the benefit of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (collectively, the “Severance Payments”), would
be subject to the excise tax imposed by Section 4999 of the Code, then, the following provisions shall apply: 

  
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 (i)       If the Threshold Amount (as hereinafter defined) is less
than (x) the Severance Payments, but greater than (y) the Severance Payments reduced by the-sum of (A) the Excise Tax (as defined below) and (B) the total of the Federal, state, and local income and employment taxes on the amount
of the Severance Payments which are in excess of the Threshold Amount, then the Severance Payments that would otherwise be payable under this Agreement shall be reduced (but not below zero) to the extent necessary so that the maximum Severance
Payments shall not exceed the Threshold Amount. To the extent that there is more than one method of reducing the Severance Payments to bring them within the Threshold Amount, Executive shall determine which method shall be followed; provided that if
Executive fails to make such determination within 45 days after the Company has sent Executive written notice of the need for such reduction, the Company may determine the amount of such reduction in its sole discretion. 

(ii)       If, however, the Severance Payments, reduced by the sum of (A) the Excise Tax and (B) the
total of the Federal, state and local income and employment taxes payable by Executive on the amount of the Severance Payments which are in excess of the Threshold Amount, are greater than or equal to the Threshold Amount, there shall be no
reduction in the Severance Payments to Executive pursuant to Paragraph 5.4(a)(i) above. 
 (b)       For the
purposes of this Section 5.4, the term “Threshold Amount” shall mean three (3) times Executive’s “base amount” (within the meaning of Section 280G(b)(3) of the Code and the regulations promulgated
thereunder) less one dollar ($1.00); and the term “Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, and any interest or penalties incurred by Executive with respect to such excise tax. 

(c)       The determination as to which of Paragraph 5.4(a)(i) or 5.4(a)(ii) shall apply to Executive shall be
made by Vavrinek, Trine, day & Co, LLP, independent registered public accountants, or any other independent accounting firm selected by mutual agreement of the Company and Executive (the “Accounting Firm”), which agreement shall
not be unreasonably withheld or delayed by either party. Such Accounting Firm shall provide detailed supporting calculations both to the Company and Executive within 15 business days of the date of Executive’s Good Reason Termination, if
applicable, or at such earlier time as is reasonably requested by the Company or Executive. For purposes of determining which of the alternative provisions of 5.4(a)(i) or 5.4(a)(ii) shall apply, Executive shall be deemed to pay federal income taxes
at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in the state and
locality of Executive’s residence on the Termination Date, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. Any determination by the Accounting Firm shall be binding on
the Company and Executive. 
 5.5       Withholding. Notwithstanding anything to the contrary that may
be contained elsewhere in this Agreement, all payments made to Executive under this Agreement shall be made net of all taxes and other amounts required to be withheld from the wages or salary of employees under applicable federal, state or local
laws or regulations. 
 6.       Termination of Agreement. Notwithstanding Section 2 hereof, this
Agreement shall terminate sooner as provided in this Section 6. 
 6.1       Termination of
Employment Other Than for Good Reason. This Agreement shall terminate upon the happening, at any time prior to the termination of Executive’s employment for Good Reason pursuant to Section 4 hereof, of any of the following events: 


  
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 (a)       Executive’s Disability or Death. This
Agreement shall terminate upon the termination of Executive’s employment as a result of Executive’s disability pursuant to and in accordance with Section 6(e) of the Employment Agreement. This Agreement also shall terminate
immediately in the event of the death of the Executive. 
 (b)       Retirement. This Agreement shall
terminate automatically on Retirement (as hereinafter defined) of Executive. The term “Retirement” as used in this Agreement shall mean termination by the Company or the Executive of Executive’s employment based on the
Executive’s having reached age 75 or such other age as shall have been fixed in any arrangement established with the Executive’s consent with respect to Executive retirement. 

(c)       Cause. This Agreement shall terminate, if Executive’s employment with the Company or an
Employer Bank is terminated for Cause, as such term is defined in Section 6(a) of the Employment Agreement. 

(d)       Termination by Executive without Cause. This Agreement shall terminate upon any voluntary
termination by Executive of his/her employment with the Company or the Bank, as the case may be, other than pursuant to Section 4 of this Agreement. 

In the event of a termination of this Agreement pursuant to this Section 6.1, then, notwithstanding anything to the contrary that may be
contained elsewhere herein, except for any severance or other compensation to which Executive may be entitled, by reason of such termination, under the Employment Agreement, neither the Company nor the Bank shall have any liability to Executive, or
Executive’s estate, heirs, successors, representatives or assigns, due to such termination of this Agreement or by reason of any prior or subsequent Change in Control of the Company. 

6.2       Effect of Good Reason Termination on Term of this Agreement. In the event of a Good Reason
Termination pursuant to Section 4 hereof, Executive shall have no further rights or remedies under this Agreement, except his/her right to receive the severance compensation set forth in Section 5 hereof attributable to the occurrence of
the Good Reason Event that entitled Executive to terminate his/her employment pursuant to Section 4 hereof. Accordingly, but without limiting the generality of the foregoing, Executive shall be entitled to receive any compensation under this
Agreement in the event of the occurrence of a second Change in Control of the Company after the date of the Executive’s Good Reason Termination. 

7.       Release of Claims. The obligations of the Company under this Agreement shall constitute the only
obligations of the Company arising from a Good Reason Termination by Executive pursuant to Section 4 hereof. Additionally, upon any such termination, except for Executive’s rights and the obligations of the Company or the Bank (as the case
may be) under Section 5 hereof, none of the Company, the Bank or any of their affiliates shall have any obligation or liability of any kind or nature whatsoever to Executive by reason of or arising out of his/her employment with the Company or
the Bank or the termination thereof. Executive further agrees that, except for his/her rights and the obligations of the Company or the Bank (as the case may be) under Section 5 hereof, all demands, claims and causes of action that Executive
may have against, and any and all rights that Executive may have to recover any payments, damages, liabilities or other amounts of any kind or nature whatsoever from, the Company, the Bank or any of their affiliates , or any of their respective,
officers, directors, shareholders, employees, agents or independent contractors (the “Company Related Parties”), shall be forever released by Executive as a condition precedent to Executive’s rights to receive and the obligations of
the Company or Bank (as the case may be) to pay or provide to Executive the severance compensation and benefits provided for in Section 5 hereof, irrespective of whether or not such demands, claims, causes of action or rights arise or have
arisen under (i) this Agreement, the Employment Agreement, or any other contract, 

  
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agreement or understanding, written or oral, between Executive and the Company or any of the Company Related Parties, or (ii) any employee or executive benefit plans or programs, including
any stock incentive or stock based compensation plans, or (iii) any federal, state or local statutes or government regulations, or otherwise, and whether or not such demands, claims, causes of action or rights are known or unknown, certain or
uncertain, or suspected or unsuspected by Executive. Executive further covenants and agrees that such condition precedent shall not be satisfied unless and until he/she executes and delivers to the Company all appropriate written agreements
reflecting such settlement and complete release in a form reasonably acceptable to the Company. 
 9.      
Arbitration of Disputes. Except as otherwise provided in the last sentence of this Section 9 with respect to equitable proceedings and remedies, any controversy or claim arising out of or relating to this Agreement, the performance or
non-performance (actual or alleged) by either party of any of such party’s respective obligations hereunder or any actual or alleged breach thereof, shall, to the fullest extent permitted by law, be resolved exclusively by binding arbitration
in any forum and form agreed upon by the parties or, in the absence of such an agreement, under the auspices of the American Arbitration Association (“AAA”) in Orange County, California in accordance with the Employment Dispute Resolution
Rules of the AAA, including, but not limited to, the rules and procedures applicable to the selection of arbitrators. In the event that any person, other than Executive or the Company, may be a party with regard to any such controversy or claim,
such controversy or claim shall be submitted to arbitration subject to such other person’s agreement thereto. Judgment upon the award rendered by the arbitrator in any such arbitration proceeding may be entered in any court having jurisdiction
thereof. This Section 9 shall be specifically enforceable. The reasonable fees and disbursements of the prevailing party’s legal counsel, accountants and experts incurred in connection with any such arbitration proceeding shall be paid by
the non-prevailing party in such arbitration proceeding. Notwithstanding anything to the contrary that may be contained in this Section 9, however, each party shall be entitled to bring an action in any court of competent jurisdiction for the
purpose of obtaining a temporary restraining order or a preliminary or permanent injunction or other equitable remedies in circumstances in which such relief is appropriate. 

10.       Miscellaneous. 

10.1       Entire Agreement. This Agreement constitutes the entire agreement between the parties
relating to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral, between the parties with respect to that subject matter. 

10.2       Assignment; Successors and Assigns, etc. Neither party may make any assignment, in whole or
in part, of this Agreement or any interest herein, by operation of law or otherwise, or delegate any of their respective duties hereunder, without the prior written consent of the other party; except that in the event of a Change in Control of the
Company, the rights and obligations of the Company under this Agreement may be assigned to the successor-in-interest of the Company in such Change in Control without the consent of Executive, provided that (i) such successor-in-interest enters
into a written agreement, in a form reasonably acceptable to Executive, by which such successor-in-interest shall expressly agree to be bound by this Agreement and (ii) no such assignment shall relieve the Company of its obligations under this
Agreement. Subject to the foregoing restrictions on assignment, this Agreement shall inure to the benefit of and be enforceable by and shall be binding on the parties and their respective successors, legal representatives, executors, administrators,
heirs, devisees and legatees, and permitted assigns. If Executive should die while any amounts are still payable to him/her pursuant to Section 5 hereof, all such amounts, unless otherwise provided herein, shall be paid in accordance with the
terms of this Agreement to the Executive’s devisee, legatee, or other designee or, if there be no such designee, to the Executive’s estate. 

  
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 10.3       Severability. If any portion or provision of
this Agreement (including, without limitation, any portion or provision of any section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the
application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the
fullest extent permitted by law. 
 10.4       Waiver. No waiver of any provision hereof shall be
effective unless made in writing and signed by the waiving party. The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any right or obligation under or breach of this
Agreement, shall not prevent any subsequent enforcement of such term, right or obligation or be deemed a waiver of any prior or subsequent breach of the same obligation. 

10.5       Notices. Any notices, requests, demands and other communications provided for by this
Agreement (“Notices”) shall be sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return receipt requested, to Executive at the
last address Executive has filed in writing with Employer or, in the case of any Notice to be given to the Company or the Employer (if other than the Company), at its headquarters offices, attention of the Chief Executive Officer, and shall be
effective on the date of delivery in person or by courier or two (2) business days after the date such Notice is mailed by registered or certified mail, postage prepaid and return receipt requested (whether or not the requested receipt is
returned). 
 10.6       Amendment. This Agreement may be amended or modified only by a written
instrument signed by the Executive and by a duly authorized officer or other representative of the Company. 

10.7       Interpretation and Construction of this Agreement. This Agreement is the result of
arms-length bargaining by the parties, each party was represented by legal counsel of such party’s choosing in connection with the negotiation and drafting of this Agreement and no provision of this Agreement shall be construed against a party,
due to an ambiguity therein or otherwise, by reason of the fact that such provision may have been drafted by counsel for such party. For purposes of this Agreement: (i) the term “including” shall mean “including without
limitation” or “including but not limited to”; (iv) the term “or” shall not be deemed to be exclusive; and (v) the terms “hereof,” “herein,” “hereinafter,”
“hereunder,” and “hereto,” and any similar terms shall refer to this Agreement as a whole and not to the particular Section, paragraph or clause in which any such term is used, unless the context in which any such
term is used clearly indicates otherwise. 
 10.8       Governing Law. This Agreement is being entered
into and will be performed in the State of California and shall be construed under and be governed in all respects by and enforced under the laws of the State of California, without giving effect to its conflict of laws rules or principles. 

10.9       Headings. The Section and paragraph headings in this Agreement are inserted for convenience
of reference only and shall not affect, nor shall be considered in connection with, the construction or application of any of the provisions of this Agreement. 

10.10       Counterparts. This Agreement may be executed in any number of counterparts, and each such
executed counterpart, and any photocopy or facsimile copy thereof, shall constitute an original of this Agreement; but all such executed counterparts and photocopies and facsimile copies thereof shall, together, constitute one and the same
instrument. 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and
year first above written. 
  

									
	“Company”	 		 	“Executive”
			
	KELLER FINANCIAL GROUP	 		 	
				
	By:	 	/S/ ULRICH E. KELLER, JR.	 		 	/S/ JOHN M. MICHEL


									
					
	 Name:
	 	 Ulrich E. Keller, Jr.
	 		 	 Name:
	 	 John M. Michel 

					
	 Title:
	 	 Chairman & CEO
	 		 		 	

 “Bank” 
  

									
	FIRST FOUNDATION BANK	 		 	
					
	By:	 	/S/ SCOTT F. KAVANAUGH	 		 		 	


									
					
	 Name:
	 	 Scott F. Kavanaugh
	 		 		 	
					
	 Title:
	 	 Chairman & CEO
	 		 		 	


  
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