Exhibit 10.20





FORM OF QUAKER CITY BANCORP, INC.


CHANGE IN CONTROL AGREEMENT





This AGREEMENT is made effective as of February 11, 2002, by and between Quaker City Bancorp, Inc. (the Company), a corporation organized under the laws of the State of
Delaware, with its office at 7021 Greenleaf Avenue, Whittier, California, and Elizabeth A. Conrado (Executive). The term Bank refers to Quaker City Bank, the wholly-owned subsidiary of the Company or any successor thereto.





WHEREAS, the Company recognizes the substantial contribution Executive has made to the Company and wishes to protect his
position therewith for the period provided in this Agreement; and





WHEREAS, Executive has been elected to, and has agreed to
serve in the employ of the Company or an affiliate thereof;





NOW, THEREFORE, in consideration of the contribution and
responsibilities of Executive, and upon the other terms and conditions hereinafter provided, the parties hereto agree as follows:





1.    TERM OF AGREEMENT.





The term of this Agreement shall be deemed to have
commenced as of the date first above written and shall continue for twenty-four (24) full calendar months. Commencing on the date of execution of this Agreement, the term of this Agreement shall be extended for one day each day until such time as
the Board of Directors of the Company (the Board) or Executive elects not to extend the term of the Agreement by giving written notice to the other party in accordance with Section 4 of this Agreement, in which case the term of this
Agreement shall be fixed and shall end on the second anniversary of the date of such written notice.





2.    PAYMENTS TO
EXECUTIVE UPON CHANGE IN CONTROL.





(a)  Upon the occurrence of a Change in Control of the Company (as herein
defined) followed at any time during the term of this Agreement by the voluntary or involuntary termination of Executives employment, other than for Cause, as defined in Section 2(c) hereof, the provisions of Section 3 shall apply. Upon the
occurrence of a Change in Control, Executive shall have the right to elect to voluntarily terminate his employment at any time during the term of this Agreement following any demotion, loss of title, office or significant authority, reduction in his
annual compensation or benefits, or relocation of his principal place of employment by more than 30 miles from its location immediately prior to the Change in Control.




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(b)  For purposes of this Plan, a Change in Control of the
Association or Company shall mean an event of a nature that: (i) would be required to be reported in response to Item 1(a) of the current report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 (the Exchange Act); or (ii) results in a Change in Control of the Bank or the Company within the meaning of the Home Owners Loan Act of 1933 and the Rules and Regulations promulgated by the Office of Thrift Supervision
(or its predecessor agency), as in effect on the date hereof (provided, that in applying the definition of change in control as set forth under the rules and regulations of the OTS, the Board shall substitute its judgment for that of the OTS); or
(iii) without limitation such a Change in Control shall be deemed to have occurred at such time as (A) any person (as the term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the beneficial owner (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Bank or the Company representing 20% or more of the Banks or the Companys outstanding securities except for any securities of the Bank purchased
by the Company in connection with the conversion of the Bank to the stock form and any securities purchased by any employee benefit plan of the Bank or the Company, or (B) individuals who constitute the Board on the date hereof (the Incumbent
Board) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the date hereof whose election was approved by a vote of at least three-quarters of the directors comprising the
Incumbent Board, or whose nomination for election by the Companys stockholders was approved by the same Nominating Committee serving under an Incumbent Board, shall be, for purposes of this clause (B), considered as though he were a member of
the Incumbent Board, or (C) a plan of reorganization, merger, consolidation, sale of all or substantially all the assets of the Bank or the Company or similar transaction occurs in which the Bank or Company is not the resulting entity, or (D) a
proxy statement shall be distributed soliciting proxies from stockholders of the Company, by someone other than the current management of the Company, seeking stockholder approval of a plan of reorganization, merger or consolidation of the Company
or Bank with one or more corporations as a result of which the outstanding shares of the class of securities then subject to such plan or transaction are exchanged for or converted into cash or property or securities not issued by the Bank or the
Company shall be distributed, or (E) a tender offer is made for 20% or more of the voting securities of the Bank or Company then outstanding.





(c)  Executive shall not have the right to receive termination benefits pursuant to Section 3 hereof upon Termination for Cause. The term Termination for Cause shall mean termination because of a
material loss to the Company or one of its affiliates caused by the Executives intentional failure to perform stated duties, personal dishonesty, incompetence, willful violation of any law, rule, regulation (other than traffic violations or
similar offenses) or final cease and desist order, or any material breach of this Agreement. For purposes of this Section, no act, or the failure to act, on Executives part shall be willful unless done, or omitted to be done, not
in good faith and without reasonable belief that the action or omission was in the best interest of the Company or its affiliates. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Cause unless and until there
shall have been delivered to him a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to Executive
and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, Executive was guilty of conduct justifying Termination for Cause and specifying the




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particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for
Cause.





3.    TERMINATION BENEFITS.





(a)  Upon the occurrence of a Change in Control, followed at any time during the term of this Agreement by the voluntary or involuntary termination of Executives
employment due to (1) Executives dismissal or (2) Executives voluntary termination pursuant to Section 2(a), unless such termination is due to Termination for Cause, the Company shall be obligated to pay Executive, or in the event of his
subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, as severance pay or liquidated damages, or both, a sum equal to two (2) times Executives average annual compensation for the two most recent taxable years
that Executive has been employed by the Bank or such lesser number of years in the event that Executive shall have been employed by the Bank for less than two years, such average annual compensation shall include any bonuses or other cash
compensation paid or to be paid to the Executive in any such year, any director or committee fees paid or to be paid in any such year, any benefits paid or accrued to the Executive pursuant to any employee benefit plan maintained by the Company or
Bank in any such year and any contributions made on behalf of the Executive to any employee benefit plan maintained by the Company or Bank in any such year; provided however, that if the Bank is not in compliance with its minimum capital
requirements or if such payments would cause the Banks capital to be reduced below its minimum regulatory capital requirements, such payments shall be deferred until such time as the Bank or successor thereto is in capital compliance. At the
election of the Executive such payment may be made in a lump sum or paid in equal monthly installments during the twenty-four (24) months following the Executives termination. In the event that no election is made, payment to the Executive
will be made on a monthly basis during the remaining term of this Agreement.





(b)  Upon the occurrence of a Change
in Control of the Bank or the Company followed at any time during the term of this Agreement by the Executives voluntary or involuntary termination of employment, other than for Termination for Cause, the Company shall cause to be continued
life, medical, dental and disability coverage substantially identical to the coverage maintained by the Bank or Company for the Executive prior to his severance, except to the extent such coverage may be changed in its application to all Bank or
Company employees. Such coverage and payments shall cease upon expiration of twenty-four (24) full calendar months following the Date of Termination.





(c)  Upon the occurrence of a Change in Control, Executive will be entitled to receive benefits due to him under or contributed by the Bank or Company on his behalf pursuant to any retirement,
incentive, profit sharing, bonus, performance, disability or other employee benefit plan maintained by the Bank or Company on Executives behalf.





(d)  As of the effective date of this Agreement, and annually as of the first business day of January or soon thereafter, Executive shall make the election referred to in Section 3(a) hereof with
respect to whether the amounts payable under said Section 3(a) shall be paid in a lump sum or on a monthly basis. Such election shall be irrevocable for the year for which such election is made and shall continue in effect until the Executive has
made his next annual election.




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(e)  Notwithstanding the preceding paragraphs of this Section 3, in no event
shall the aggregate payments or benefits to be made or afforded to Executive under said paragraphs (the Termination Benefits) constitute an excess parachute payment under Section 280G of the Code or any successor thereto, and
in order to avoid such a result Termination Benefits will be reduced, if necessary, to an amount (the Non-Triggering Amount), the value of which is one dollar ($1.00) less than an amount equal to three (3) times Executives
base amount, as determined in accordance with said Section 280G. The allocation of the reduction required hereby among the Termination Benefits provided by the preceding paragraphs of this Section 3 shall be determined by the Executive.





4.    NOTICE OF TERMINATION.





(a)  Any purported termination by the Company, or by the Executive shall be communicated by Notice of Termination to the other party hereto. For purposes of this Agreement, a Notice of
Termination shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in detail the facts and circumstances claimed to provide a basis for termination of the
Executives employment under the provision so indicated.





(b)  Date of Termination shall mean the
date specified in the Notice of Termination (which, in the instance of Termination for Cause, shall not be less than thirty (30) days from the date such Notice of Termination is given).





(c)  If, within thirty (30) days after any Notice of Termination is given, the party receiving such Notice of Termination notifies the other party that a dispute exists
concerning the termination, the Date of Termination shall be the date on which the dispute is finally determined, either by mutual written agreement of the parties, by a binding arbitration award, or by a final judgment, order or decree of a court
of competent jurisdiction (the time for appeal therefrom having expired and no appeal having been perfected) and provided further that the Date of Termination shall be extended by a notice of dispute only if such notice is given in good faith and
the party giving such notice pursues the resolution of such dispute with reasonable diligence. Notwithstanding the pendency of any such dispute, the Bank will continue to pay Executive his full compensation in effect when the notice giving rise to
the dispute was given (including, but not limited to his annual salary) and continue him as a participant in all compensation, benefit and insurance plans in which he was participating when the notice of dispute was given, until the dispute is
finally resolved in accordance with this Agreement.





5.    SOURCE OF PAYMENTS.





It is intended by the parties hereto that all payments provided in this Agreement shall be paid in cash or check from the general funds of the Bank.
The Company, however, guarantees payment and provision of all amounts and benefits due hereunder to the Executive and, if such amount and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid
and provided by the Company.




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6.    EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFIT PLANS.





This Agreement contains the entire understanding between the parties hereto and supersedes any prior agreement between the Company and Executive,
except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer
benefits than those available to him without reference to this Agreement.





Nothing in this Agreement shall confer upon the
Executive the right to continue in the employ of the Company or shall impose on the Company any obligation to employ or retain the Executive in its employ for any period.





7.    NO ATTACHMENT.





(a)  Except as required by law, no right
to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by operation of
law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void, and of no effect.





(b)  This Agreement shall be binding upon, and inure to the benefit of, Executive, the Company and their respective successors and assigns.





8.    MODIFICATION AND WAIVER.





(a)  This Agreement may not be
modified or amended except by an instrument in writing signed by the parties hereto.





(b)  No term or condition of
this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver
shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act
other than that specifically waived.





9.    REINSTATEMENT OF BENEFITS UNDER BANK AGREEMENT.





In the event Executive is suspended and/or temporarily prohibited from participating in the conduct of the Banks affairs by a notice described
in Section 9(b) of the Change-in-Control Agreement between Executive and the Bank dated January 1, 1994 (the Bank Agreement) during the term of this Agreement and a Change in Control, as defined herein, occurs the Company will assume its
obligation to pay and the Executive will be entitled to receive all of the termination benefits provided for under Section 3 of the Bank Agreement upon the notification of the Company of the Banks receipt of a dismissal of charges in the
Notice.




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10.    EFFECT OF ACTION UNDER BANK AGREEMENT.





Notwithstanding any provision herein to the contrary, to the extent that payments and benefits are paid to or received by Executive under the Bank
Agreement between Executive and Bank, the amount of such payments and benefits paid by the Bank will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement.





11.    SEVERABILITY.





If, for any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each
such other provision and part thereof shall to the full extent consistent with law continue in full force and effect.





12.    HEADINGS FOR REFERENCE ONLY.





The headings of sections and paragraphs
herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement.





13.    GOVERNING LAW.





The validity, interpretation, performance, and enforcement
of this Agreement shall be governed by the laws of the State of Delaware.





14.    ARBITRATION.





Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a panel
of three arbitrators sitting in a location selected by the Executive within fifty (50) miles from the location of the Company, in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the
arbitrators award in any court having jurisdiction; provided, however, that Executive shall be entitled to seek specific performance of his right to be paid until the Date of Termination during the pendency of any dispute or controversy
arising under or in connection with this Agreement.





15.    PAYMENT OF LEGAL FEES.





All reasonable legal fees paid or incurred by Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be
paid or reimbursed by the Company if Executive is successful pursuant to a legal judgment, arbitration or settlement.





16.    INDEMNIFICATION.





The Company shall provide the Executive (including his
heirs, executors and administrators) with coverage under a standard directors and officers liability insurance policy at its expense, or in lieu thereof, shall indemnify the Executive (and his heirs, executors and administrators) to the
fullest




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extent permitted under Delaware law and as provided in the Companys certificate of incorporation against all expenses and liabilities reasonably
incurred by him in connection with or arising out of any action, suit or proceeding in which he may be involved by reason of his having been a director or officer of the Company (whether or not he continues to be a director or officer at the time of
incurring such expenses or liabilities), such expenses and liabilities to include, but not be limited to, judgments, court costs and attorneys fees and the cost of reasonable settlements.





17.    SUCCESSOR TO THE HOLDING COMPANY.





The
Company shall require any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or substantially all the business or assets of the Bank or the Company, expressly and unconditionally to assume and
agree to perform the Companys obligations under this Agreement, in the same manner and to the same extent that the Company would be required to perform if no such succession or assignment had taken place.





18.    SIGNATURES.





IN WITNESS WHEREOF, Quaker City Bancorp, Inc. has caused this Agreement to be executed by its duly authorized officer, and Executive has signed this Agreement, on the 11th day of February, 2002.





ATTEST:



QUAKER CITY BANCORP, INC./s/    KATHRYN M. HENNIGAN



By:

/s/    FREDERIC R. MCGILLSecretary





WITNESS:/s/    MICHELLE DELHOYO





/s/    ELIZABETH A. CONRADOElizabeth A. Conrado Executive





Seal







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