Exhibit 10.3


 


LEASE AMENDMENT #1


 


This Lease
Amendment #1 (“Amendment”) dated , June 9, 2006 is by and between 1875/1925
CENTURY PARK EAST COMPANY, a California general partnership (“Landlord”), and 1ST
CENTURY BANK, N.A. (“Tenant”).


 


RECITALS


 


WHEREAS, 1875/1925
CENTURY PARK EAST COMPANY, a California general partnership, as Landlord, and 1ST
CENTURY BANK, N.A., as Tenant, entered into that certain lease agreement dated
November 5, 2003 (the “Lease”), wherein there was demised to Tenant by
Landlord the Premises consisting of:  1)
Premises A, known as Suite D, consisting of 3,626 rentable square feet
(3,158 usable square feet) on the ground floor of the building situated at 1875
Century Park East, Los Angeles, California; and 2) Premises B, known as
Suite 1400, consisting of 9,316 rentable square feet (8,108 usable square
feet) on the 14th floor of the building situated at 1875 Century
Park East, Los Angeles, California for a term of approximately ten
(10) years commencing June 2, 2004 and terminating June 30,
2014; and


 


WHEREAS,
Landlord and Tenant desire to amend the Lease to provide for changes and
modifications as mutually agreed upon effective June 1, 2006; and


 


NOW,
THEREFORE, in consideration of the terms, covenants, conditions and agreements
set forth in the Lease and in this Amendment, the parties hereto agree as
follows:


 


1.                                       That the
Rentable Area of Premises B as set forth under Paragraphs A(1) and 1.4 of
the Lease shall be increased by 3,142 rentable square feet (“Additional
Premises”) shown crosshatched on the plan marked Exhibit “A-1” attached
hereto and made a part hereof, 


 


1

















 


thereby increasing the total rentable area of Premises B from 9,316
rentable square feet to 12,458 rentable square feet.  The usable area of Premises B shall be
increased by 2,735 usable square feet from 8,108 usable square feet to 10,843
usable square feet.


 


The Rentable
Area of Premises A shall remain the same.


 


2.                                       That
the following Rental schedule shall be applicable during the Lease periods
shown below and such figures shall be read in Paragraphs A(3), 3.1 and 3.2 of
the Lease during the applicable Lease periods.


 


	
  Lease Period

  	
   

  	
  Annual Rental

  	
   

  	
  Monthly Rental

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  June 1, 2006 – August 31, 2006

  	
   

  	
  $

  	
  375,282.00

  	
   

  	
  $

  	
  31,273.50

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  September 1, 2006 – December 31,
  2006

  	
   

  	
  $

  	
  455,312.40

  	
   

  	
  $

  	
  37,942.70

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  January 1, 2007 – August 31, 2007

  	
   

  	
  $

  	
  478,613.40

  	
   

  	
  $

  	
  39,884.45

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  September 1, 2007 – August 31,
  2008

  	
   

  	
  $

  	
  481,629.72

  	
   

  	
  $

  	
  40,135.81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  September 1, 2008 – June 30, 2009

  	
   

  	
  $

  	
  484,646.04

  	
   

  	
  $

  	
  40,387.17

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  July 1, 2009 – August 31, 2009

  	
   

  	
  $

  	
  500,180.04

  	
   

  	
  $

  	
  41,681.67

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  September 1, 2009 – August 31,
  2010

  	
   

  	
  $

  	
  503,196.36

  	
   

  	
  $

  	
  41,933.03

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  September 1, 2010 – August 31,
  2011

  	
   

  	
  $

  	
  506,589.72

  	
   

  	
  $

  	
  42,215.81

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  September 1, 2011 – December 31,
  2011

  	
   

  	
  $

  	
  509,606.04

  	
   

  	
  $

  	
  42,467.17

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  January 1, 2012 – August 31, 2012

  	
   

  	
  $

  	
  532,907.04

  	
   

  	
  $

  	
  44,408.92

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  September 1, 2012 – August 31,
  2013

  	
   

  	
  $

  	
  536,300.40

  	
   

  	
  $

  	
  44,691.70

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  September 1, 2013 – June 30, 2014

  	
   

  	
  $

  	
  540,070.80

  	
   

  	
  $

  	
  45,005.90

  	
   

  



 


3.                                       That
the Base Year as set forth in Paragraph A(5) of the Lease for the
Additional Premises portion of Premises B only shall be the calendar year 2006.


 


4.                                       That
Lessee’s Proportionate Share of the excess Building Operating Costs as set
forth under Paragraph A(4) of the Lease shall be increased by 0.36605%
from 1.08516% to 1.45121%.


 


2

















 


5.                                       That
the Security Deposit as set forth in Paragraphs A(6) and 5 of the Lease
shall be increased by $10,054.40 from $34,951.50 to $44,005.90.


 


6.                                       That
reference to “Julien J. Studley” in Paragraph 37.5 of the Lease shall be
deleted and “None” shall be inserted.


 


7.                                       That
Exhibit “A-1” of the Lease shall be deleted and Exhibit “A-1”
attached hereto shall be added.


 


8.                                       That
Tenant accepts the Additional Premises in their “as is” condition, except
Landlord shall provide Tenant with an allowance of $62,840.00 (“Allowance”) for
Landlord-approved permanent Tenant Improvements to the Additional
Premises.  All Tenant Improvements shall
be made in accordance with Exhibit “C” and Paragraph 7 of the Lease.


 


9.                                       That
the number “39” as set forth in Paragraph A(10) and Exhibit “G” of
the Lease shall be deleted and the number “48” shall be inserted.


 


10.                                 That
this Amendment shall be read with and construed with the aforesaid Lease and
all of the terms, covenants, conditions, agreements and limitations set forth
in the Lease except as specifically mentioned herein, shall remain and be in
full force and effect.  In the event a
conflict exists between the terms and conditions of this Amendment and the
terms and conditions of the Lease, the terms and conditions of this Amendment
shall control.


 


3

















 


IN WITNESS
WHEREOF the parties have executed this Amendment the day and year first above
written.


 


“TENANT”


 


1ST CENTURY BANK, N.A.


 


 


	
  By:

  	
  /s/ Richard S. Cupp

  	
   

  
	
   

  	
   

  
	
  Print Name:

  	
  Richard S. Cupp

  	
   

  
	
   

  	
   

  
	
  Its:

  	
  President & CEO

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Print Name:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  
								



 


“LANDLORD”


 


1875/1925 CENTURY PARK EAST COMPANY,


a California general partnership


 


	
  By:

  	
  WP Twin Towers, Inc.,

  	
   

  
	
   

  	
  a California corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Nadine Watt

  	
   

  
	
   

  	
   

  	
  Nadine Watt, President

  	
   

  



 


4

















 


EXHIBIT
“A-1”


 


	
  Additional Premises

  	
   

  	
  Expansion Area

  



 


 


“Floorplan”


 


 


WATT
PLAZA


1875 CENTURY PARK EAST


Suite 1400


 


 


1st Century Bank, N.A.


 


 12,458 rentable square feet


(10,843 usable square feet)


 


 


5

















 


WATT PLAZA


OFFICE SUBLEASE


 


1.                                       PARTIES:


 


                                                This
Sublease is entered into as of the 1ST day of JUNE, 2006 by and between  1ST CENTURY BANK, N.A, (“Sublessor”),
and SPORTS BUSINESS VENTURES, (“Sublessee”), with reference to the following:


 


                                                Sublessor
as Lessee/Tenant, and 1875/1925 CENTURY PARK EAST COMPANY, a California general
partnership, as Lessor/Landlord, entered into a Lease Agreement dated November 5,
2003. [The Lease Agreement was subsequently amended by Amendment #1 between
Lessee/Tenant and Lessor/Landlord dated June 1, The Lease Agreement
[Amendment #1] shall hereinafter, collectively, be known as the “Master Lease”,


 


2.                                       PROVISIONS
CONSTITUTING SUBLEASE:


 


                                                This
Sublease shall be of no force and effect unless and until the Lessor/Landlord
under the Master Lease shall grant its consent in writing thereto and this
Sublease is subject to all of the terms and conditions of the Master Lease
except as specifically exempted herein and Sublessee shall assume and perform
the obligations of Sublessor as Lessee/Tenant in said Master Lease to the
extent said terms and conditions are applicable to the Premises subleased
pursuant to this Sublease.  Sublessee
shall not commit or permit to be committed on the subleased Premises any act or
omission which shall violate any term or condition of the Master Lease.  In the event of the termination of Sublessor’s
interest as Lessee/Tenant under the Master Lease for any reason, then 


 


 


this Sublease shall terminate coincidentally therewith without any
liability of Sublessor to Sublessee.  All
of the terms and conditions contained in the Master Lease are incorporated
herein except in paragraph 12 as terms and conditions of this Sublease (with
each reference therein to Lessor/Landlord and Lessee/Tenant to be deemed to refer
to Sublessor and Sublessee) and along with all of the following paragraphs set
out in this Sublease, shall be the complete terms and conditions of this
Sublease.  In cases of any conflicts
between the terms of this Sublease and the terms of the Master Lease, the terms
of the Master Lease shall prevail.


 


3.                                       PREMISES:


 


                                                Sublessor
leases to Sublessee and Sublessee leases from Sublessor, but not by way of
assignment, those certain Premises constituting a portion of the 14th
floor and containing approximately 3,142 square feet, designated as Suite 1460,
in the building located at 1875 Century Park East, Los Angeles, California
90067 (“Premises”).  Sublessee agrees to
accept the Premises in an “as is” condition and Sublessor shall not be required
to perform any work in the Premises at its expense unless otherwise herein
provided.


 


4.                                       TERM:


 


                        4a.  The term of this Sublease shall be for a
period commencing on JUNE 1, 2006, (“Commencement Date”), and will continue on
a MONTH TO MONTH  basis.


 


                                                4b.  Notwithstanding said Commencement Date, if
for any reason Sublessor cannot deliver possession of the Premises to Sublessee
on said date, Sublessor shall not be subject to 


 


6

















 


any liability therefore, nor shall such failure affect the validity of
this Sublease or the obligations of Sublessee hereunder or extend the term
hereof, but in such case Sublessee shall not be obligated to pay rent until
possession of the Premises is tendered to Sublessee; provided, however, that if
Sublessor shall not have delivered possession of the Premises within ninety
(90) days from said Commencement Date, Sublessee may, at Sublessee’s option, by
notice in writing to Sublessor within ten (10) days thereafter, cancel
this Sublease.  If this Sublease is
cancelled as herein provided, Sublessor shall return any monies previously
deposited by Sublessee and the parties shall be discharged from all obligations
hereunder.


 


                                                4c.  In the event that Sublessor shall permit
Sublessee to occupy the Premises prior to the Commencement Date of the term,
such occupancy shall be subject to all of the provisions of this Sublease.  Said early possession shall not advance the
termination date of this Sublease.


 


5.                                       RENT:


 


                                                5a.  BASIC RENT:  Sublessee shall pay to Sublessor as basic
rent for the Premises an equal monthly installment of TWO THOUSAND AND 00/100
DOLLARS ($2,000.00), in advance, on the first day of each month of the term
hereof.


 


                                                Rent
for any period during the term hereof which is for less than one month shall be
a pro rata portion of the monthly installment. 
Rent shall be payable without notice or demand and without any
deduction, offset, or abatement in lawful money of the United States of America
to Sublessor at the address stated herein or to such other person or at such
other places as Sublessor may designate in writing.


 


                                                5b.  RENT ADJUSTMENT: Sublessee shall pay
to Sublessor as additional rent as negotiated on a mutually agreeable basis as
requested by Sublessor.


 


7

















 


6.                                       SECURITY
DEPOSIT:


 


                                                Sublessee
shall deposit with Sublessor upon execution hereof the sum of ZERO DOLLARS ($0)
as Security Deposit for Sublessee’s faithful performance of Sublessee’s
obligations hereunder.  If Sublessee
fails to pay rent or other charges due hereunder, or otherwise defaults with
respect to any provision of this Sublease, Sublessor may use, apply or retain
all or any portion of said deposit for the payment of any rent or other charge
in default or for the payment of any other sum to which Sublessor may become
obligated by reason of Sublessee’s default, or to compensate Sublessor for any
loss or damage which Sublessor may suffer thereby.  If Sublessor so uses or applies all or any
portion of said deposit, Sublessee shall within ten (10) days after
written demand deposit cash with Sublessor in an amount sufficient to restore
said deposit to the full amount hereinabove stated and Sublessee’s failure to
do so shall be a breach of the Sublease, and Sublessor may at its option
terminate this Sublease.  Sublessor shall
not be required to keep said deposit separate from its general accounts. Within
ten (10) days after the expiration of the term hereof, on condition
Sublessee has vacated the Premises and has fully and faithfully performed every
provision of this Sublease to be performed by it, the security deposit or any
balance thereof shall be returned to Sublessee (or, at Sublessor’s option, to
the last assignee, if any, of Sublessee’s interest hereunder) provided however
that Sublessor may retain one-half of the security deposit until such time as
any amount due from Sublessee in accordance with the rental adjustment
provision of this Sublease  has been
determined and paid in full.


 


8

















 


7.                                       PARKING:


 


                                                Sublessor
hereby grants to Sublessee for its own use its ZERO (0) unassigned parking
spaces in the Building of which the Premises form a part, which Sublessee may
rent at parking rates as charged by the parking garage operator and subject to
the parking agreement of the Master Lease.


 


8.                                       USE:


 


The Premises shall be used and
occupied only as executive offices for general purposes.


 


9.                                       DEFAULT:


 


                                                In
the event of default by Sublessee of the payment of rents or in the performance
of any other terms and conditions of this Sublease, Sublessor shall have, in
addition to whatever other rights and remedies it may have at law or in equity,
the same rights and remedies against Sublessee as the Lessor has against
Sublessor as Lessee under the Master Lease.


 


10.                                 ASSIGNMENT
AND SUBLETTING:


 


Neither Sublessee nor Sublessor shall assign
this Sublease or any interest therein or further sublet any portion of the
Premises or any right or privilege appurtenant thereto without the prior
written consent of Lessor/Landlord first had and obtained.


 


11.                                 NOTICE:


 


                                                Any
notice required and permitted to be given hereunder must be in writing and may
be given by personal delivery or by mail, and if given by mail shall be deemed
sufficiently given if 


 


9

















 


sent by registered or certified mail addressed to Sublessee at the
Premises or served upon Sublessee or its representative at the Premises, and
Sublessor 1875 CENTURY PARK EAST, SUITE 1400, LOS ANGELES, CA 90067.  Either party may by written notice to the
other specify a different address for notice purposes except that the Sublessor
may in any event use the Premises as Sublessee’s address for notice purposes.


 


 


	
  “SUBLESSEE”

  	
   

  	
  Address:

  
	
   

  	
   

  	
   

  
	
  1ST CENTURY BANK, N.A.

  	
   

  	
  1875 CENTURY PARK EAST, 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SUITE 1400

  
	
   

  	
   

  	
   

  
	
  By:

  	
       /S/ RICHARD S. CUPP

  	
   

  	
  LOS ANGELES, CA 90067

  
	
   

  	
   

  	
   

  	
   

  
	
  Print Name: Richard S. Cupp

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Its:   President & CEO

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  “SUBLESSOR”

  	
   

  	
  Address:

  
	
   

  	
   

  	
   

  
	
  SPORTS BUSINESS VENTURES

  	
   

  	
  1875 CENTURY PARK EAST, 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SUITE 1400

  
	
   

  	
   

  	
   

  
	
  By: 

  	
         /S/ JEFF MARKS

  	
   

  	
  LOS ANGELES, CA 90067

  
	
   

  	
   

  	
   

  	
   

  
	
  Its:   Managing Director

  	
   

  	
   

  
					



 


10