Document:

EX-10.3

Table of Contents

 Exhibit 10.3 

CALIFORNIA BANCORP 

2017 EQUITY INCENTIVE PLAN 

AMENDED AND RESTATED AS OF FEBRUARY 28, 2020 

Table of Contents

 Table of Contents 

 

							
	1.	 	Preamble	  	 	1	 
			
	2.	 	Purpose	  	 	1	 
			
	3.	 	Eligibility	  	 	1	 
			
	4.	 	Definitions	  	 	1	 
			
	5.	 	Shares Available Under this 2017 Plan	  	 	5	 
			
	6.	 	Grants of Option Rights Generally	  	 	6	 
			
	7.	 	Special Rules for Grants of Incentive Stock Options.	  	 	7	 
			
	8.	 	Special Rules for Grants of Nonqualified Stock Options.	  	 	7	 
			
	9.	 	Stock Appreciation Rights.	  	 	8	 
			
	10.	 	Restricted Stock Awards.	  	 	8	 
			
	11.	 	Restricted Stock Unit Awards.	  	 	9	 
			
	12.	 	Performance Shares.	  	 	10	 
			
	13.	 	Performance Measures.	  	 	10	 
			
	14.	 	Other Stock-Based Awards	  	 	11	 
			
	15.	 	Transferability	  	 	11	 
			
	16.	 	Adjustments	  	 	11	 
			
	17.	 	Change in Control	  	 	11	 
			
	18.	 	Fractional Shares	  	 	13	 
			
	19.	 	Administration of this 2017 Plan.	  	 	13	 
			
	20.	 	Clawback.	  	 	14	 
			
	21.	 	Amendments, Termination, Etc.	  	 	14	 

Table of Contents

 CALIFORNIA BANCORP 

2017 EQUITY INCENTIVE PLAN 

Amended and Restated as of February 28, 2020 

1.    Preamble. The Board of Directors of California Bank of Commerce from
time to time has adopted, and the shareholders of California Bank of Commerce have approved various long-term incentive compensation programs that have authorized grants of incentive stock options, nonqualified stock options, stock appreciation
rights, performance based compensation and restricted stock awards. The Board of Directors of California Bank of Commerce adopted the California Bank of Commerce 2017 Equity Incentive Plan and this was approved by the shareholders of California Bank
of Commerce on May 18, 2017. On June 30, 2017, California Bank of Commerce consummated a reorganization (the “Reorganization”) whereby it became the wholly-owned subsidiary of California BanCorp
(“BanCorp”) and the shareholders of California Bank of Commerce became shareholders of California BanCorp. As part of the Reorganization, California BanCorp assumed all of the rights and obligations of California Bank of Commerce
under the California Bank of Commerce 2017 Equity Incentive Plan and renamed the plan as the California Bancorp 2017 Equity Incentive Plan. In accordance with Section 21(a), on the Restatement Date, the Board of Directors amended and restated
the 2017 Plan as set forth herein and such amendment did not require the approval of BanCorp shareholders. 

2.    Purpose. The purpose of this 2017 Plan is to promote the interests of
BanCorp and its shareholders by providing current and future directors, officers, key employees, consultants and Advisors with an equity or equity-based interest in BanCorp, so that the interests of such directors, officers, employees, consultants
and Advisors will be closely associated with the interests of shareholders by reinforcing the relationship between shareholder gains and compensation. Rights granted pursuant to this 2017 Plan, which include stock options (both Incentive Stock
Options and Nonqualified Stock Options), stock appreciation rights, restricted stock, restricted stock units, performance shares, and other stock-based awards, may also be used to attract, retain and motivate eligible individuals. 

3.    Eligibility. Current and future directors, officers, key employees,
consultants and Advisors of BanCorp and its Subsidiaries (for purposes of this 2017 Plan, all references to BanCorp shall include its Subsidiaries) shall be eligible to participate in this 2017 Plan to the extent determined by the Committee in its
sole discretion. Employees of BanCorp shall be selected by the Committee based upon such factors as the employee’s past and potential contributions to the success, profitability, and growth of BanCorp. 

4.    Definitions. If a Participant’s employment agreement or Award
Agreement (or other written agreement executed by and between Participant and Bancorp) expressly includes defined terms that expressly are different from and/or conflict with the defined terms contained in this Section 4 or elsewhere in this
2017 Plan then the defined terms contained in the employment agreement or Award Agreement (or other written agreement executed by and between Participant and Bancorp) shall govern and shall supersede the definitions provided in this 2017 Plan. 

(a)    “Advisor” shall mean any natural person or entity who/which is engaged to render bona fide
consulting or advisory services to BanCorp or the Board of Directors, other than a person who provides such services in connection with the offer or sale of securities in a capital-raising transaction. 

(b)    “Award” shall mean, individually or collectively, a grant under this 2017 Plan of Nonqualified
Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock Awards, Restricted Stock Units, Performance Shares, Other Stock- Based Awards, or Dividend Equivalents in each case subject to the terms of this 2017 Plan. 

  
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 (c)    “Award Agreement” shall mean a written agreement
entered into by BanCorp and a Participant setting forth the terms and provisions applicable to an Award granted under this 2017 Plan. The Committee may provide for the use of electronic, internet or other
non-paper Award Agreements, and the use of electronic, internet or other non-paper means for the acceptance thereof and actions thereunder by a Participant. 

(d)    “Bank” shall mean California Bank of Commerce. 

(e)    “Board of Directors” shall mean the Board of Directors of BanCorp. 

(f)    “Change in Control” shall mean the occurrence of any one of the following events: 

(1)    any “person” including a “group” as determined in accordance with the Section 13(d)(3) of
the Exchange Act, is or becomes the beneficial owner, directly or indirectly, of securities of BanCorp representing 50 percent or more of the combined voting power of BanCorp’s then outstanding securities; 

(2)    the consummation of a merger, consolidation, reorganization or similar corporate transaction, whether or not
BanCorp is the surviving entity in such transaction, other than a merger, consolidation, or reorganization that would result in the persons who are beneficial owners of Bancorp’s voting securities outstanding immediately prior thereto
continuing to beneficially own, directly or indirectly, in substantially the same proportions, at least a simple majority of the combined voting power of BanCorp’s voting securities (or the voting securities of the surviving entity in such
transaction) outstanding immediately after such merger, consolidation or reorganization or other similar corporate transaction; 

(3)    a tender offer or exchange offer is made and consummated for the ownership of securities of BanCorp representing
more than 50 percent of the combined voting power of BanCorp’s then outstanding voting securities; or 

(4)    BanCorp transfers all or substantially all of its assets to another entity which is not controlled by BanCorp;

 provided, however, for purposes of any Award that constitutes payment “nonqualified deferred compensation” within the meaning of
Section 409A of the Code, the term Change in Control must also constitute a change in the ownership or effective control of Bancorp, or a change in the ownership of a substantial portion of the assets of Bancorp, within the meaning of Treasury
Regulation § 1.409A-3(i)(5) if required in order to comply with Code Section 409A. The Committee shall have full and final authority, which shall be exercised in its discretion, to determine
conclusively whether a Change in Control of and Bancorp has occurred pursuant to the above definition, and the date of the occurrence of such Change in Control and any incidental matters relating thereto. 

(g)    “Code” shall mean the U.S. Internal Revenue Code of 1986, as amended from time to time. For
purposes of this 2017 Plan, references to sections of the Code shall be deemed to include references to any applicable regulations thereunder and any successor or similar provision. 

  
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 (h)    “Committee” shall mean the committee appointed
by the Board of Directors to administer this 2017 Plan in accordance with Section 19. 
 (i)    “Common
Stock” shall mean the Common Stock, no par value, of BanCorp. 
 (j)    “Director” shall mean
a member of the Board of Directors. 
 (k)    “Disability” shall mean that the Participant is
classified as disabled under a long-term disability policy of BanCorp or, if no such policy applies, the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which
can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. The Disability of a Participant shall be determined solely by the Committee on the basis of such medical evidence
as the Committee deems warranted under the circumstances. 
 (l)    “Dividend Equivalents” has the
meaning ascribed in Section 5(g). 
 (m)    “Eligible Employees” shall mean persons treated by
BanCorp for payroll and employment tax purposes as common law employees of BanCorp or a Subsidiary and described in Section 3. 

(n)    “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time, or
any successor act thereto. 
 (o)    “Exercise Price” shall mean the price at which a share of Common
Stock may be purchased by a Participant pursuant to an Option Right. 
 (p)    “Fair Market Value”
shall mean (i) If the Common Stock is listed on any established stock exchange or traded on the Nasdaq Stock Market or other national securities exchange, the closing sales price for such stock (or in the absence of reported sales on such date,
the closing sales price on the immediately preceding date on which sales were reported) as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the Common Stock) on the last market trading day prior to
the day of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable; (ii) if the Common Stock is publicly traded but not listed or traded on any of the markets or exchanges described in subsection
(i), the Fair Market Value of a share of Common Stock shall be the average of the closing bid and asked prices on such date as reported in The Wall Street Journal or such other source as the Board deems reliable; (iii) in the absence of an
established market for the Common Stock, the Fair Market Value shall be determined by the Board based upon an independent appraisal in compliance with Section 409A of the Code or, in the case of an Incentive Stock Option, in compliance with
Section 422 of the Code. 
 (q)    “Grant Price” shall mean the price established at the time of
grant of a Stock Appreciation Right pursuant to Section 9, and used to determine whether there is any payment due upon exercise of the Stock Appreciation Right. 

(r)    “Incentive Stock Option” shall mean the right granted to an Eligible Employee to purchase Common
Stock under this 2017 Plan, the grant, exercise and disposition of which are intended to comply with, and to be governed by, Code Section 422. 

(s)    “Insider” shall mean an individual who is, on the relevant date, an officer or Director of
BanCorp, or more than ten percent (10%) beneficial owner of any class of BanCorp’s equity securities. 

  
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 (t)    “Nonqualified Stock Option” shall mean the right
granted to an Eligible Employee, Director or Advisor to purchase Common Stock under this 2017 Plan, the grant, exercise and disposition of which are not intended to be subject to the requirements and limitations of Code Section 422. 

(u)    “Optionee” shall mean the Eligible Employee, Director or Advisor to whom an Option Right is
granted pursuant to an agreement evidencing an outstanding Incentive Stock Option or Nonqualified Stock Option. 

(v)    “Option Right” shall mean the right to purchase a share of Common Stock upon exercise of an
outstanding Incentive Stock Option or Nonqualified Stock Option. 
 (w)    “Other Stock-Based Award”
means an Award that is not an Option Right, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, or Performance Share Award that is granted under Section 14 and is payable by delivery of Common Stock and/or which is measured by
reference to the value of Common Stock. 
 (x)    “Participant” shall mean any Eligible Employee,
Director or Advisor to whom an Award is granted and remains outstanding. 
 (y)    “Performance
Measures” shall mean measures as described in Section 13 on which the performance goals are based. 

(z)    “Performance Period” shall mean the period of time during which the performance goals must be met
in order to determine the degree of payout and/or vesting with respect to an Award. 
 (aa)    “Performance
Share” shall mean a Participant’s right to receive a grant of a stated number of shares of Common Stock to a Participant under this 2017 Plan upon the attainment of the specified performance goals, or as otherwise determined by the
Committee or in accordance with this 2017 Plan, subject to the continuous employment of the Participant through the applicable Performance Period. 

(bb)    “Restatement Date” shall mean February 28, 2020. 

(cc)    “Restricted Stock Award” shall mean an award of Common Stock to a Director, Eligible Employee or
Advisor that is subject to the restrictions and vesting conditions described in Section 10 and subject to tax under Code Section 83. 

(dd)    “Restricted Stock Unit Award” means an Award described in Section 11 to a Director, Eligible
Employee or Advisor reflecting a right to receive a Share (or, at the Committee’s discretion, a cash payment equal to the Fair Market Value of a Share) at some future date and that is subject those restrictions and vesting conditions set forth
therein and the Award Agreement. 
 (ee)    “Stock Appreciation Right” shall mean the right to receive
one or more payments described in Section 9. 
 (ff)    “Subsidiary” shall mean any corporation in
which (at the time of determination) BanCorp owns or controls, directly or indirectly, 50 percent or more of the total combined voting power of all classes of stock issued by the corporation. 

  
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 (gg)    “2017 Plan” shall mean this California Bancorp
2017 Equity Incentive Plan as may be amended from time to time. 
 5.    Shares
Available Under this 2017 Plan. 
 (a)    The shares of Common Stock which may be made the subject of Awards
granted pursuant to this 2017 Plan may be either (i) shares of original issue, (ii) treasury shares, or (iii) a combination of the foregoing. 

(b)    Subject to adjustments in accordance with Sections 5(d) and 16 of this 2017 Plan, the maximum number of shares of
Common Stock available for issuance to Participants under this 2017 Plan shall be four hundred thousand (400,000) shares of Common Stock. 

(c)    From the total shares of Common Stock available for Awards as described in subparagraph 5(b), and subject to
adjustments in accordance with Sections 5(d) and 16 of this 2017 Plan, the maximum number of shares of Common Stock that may be issued with respect to the exercise of Incentive Stock Options granted under this 2017 Plan shall not exceed an aggregate
of four hundred thousand (400,000) shares of Common Stock. 
 (d)    Notwithstanding any other term or provision of this
2017 Plan, if any shares of Common Stock covered by an Award under this 2017 Plan are forfeited or an Award is settled in cash or otherwise terminated without delivery of shares of Common Stock, then the shares of Common Stock covered by that Award
will again be available for future Awards under this 2017 Plan. However, the full number of Option Rights and Stock Appreciation Rights granted that are to be settled by the issuance of shares of Common Stock shall be counted against the number of
shares of Common Stock available for Award under this 2017 Plan, regardless of the number of shares of Common Stock actually issued upon settlement of such Option Rights or Stock Appreciation Rights. Furthermore, any shares of Common Stock withheld
to satisfy tax withholding obligations on an Award issued under this 2017 Plan, shares of Common Stock tendered to pay the exercise price of an Award under this 2017 Plan, and shares of Common Stock repurchased on the open market with the proceeds
of an Option Right exercise will no longer be eligible to be again available for grant under this 2017 Plan. 

(e)    Subject to adjustment in accordance with Section 16, the maximum number of shares of Common Stock subject to
an Award or Awards (including any Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock Awards, Restricted Stock Unit Awards, Performance Shares, or Other Stock-Based Awards) granted to any Participant in
any one (1) calendar year shall not exceed Fifty Thousand (50,000) Shares. If an Award is to be settled in cash, the number of shares of Common Stock on which the Award is based shall not count toward the individual share limit set forth in
this Section 5(e). 
 (f)    Except in connection with a corporate transaction involving BanCorp (including,
without limitation, any stock dividend, distribution (whether in the form of cash, Common Stock, other securities or other property), stock split, extraordinary cash dividend, recapitalization, change in control, reorganization, merger,
consolidation, split-up, spin-off, combination, repurchase or exchange of Common Stock or other securities, or similar transaction(s)), BanCorp may not, without
obtaining the consent of BanCorp’s shareholders the holder thereof: (i) amend the terms of outstanding Option Rights or Stock Appreciation Rights to reduce the Exercise Price of such outstanding Option Rights or Grant Price of Stock
Appreciation Rights; (ii) cancel outstanding Option Rights or Stock Appreciation Rights in exchange for Option Rights or Stock Appreciation Rights with an Exercise Price or Grant Price that is less than the Exercise Price or Grant Price of the
original Option Rights or Stock Appreciation Rights; or (iii) cancel outstanding Option Rights or Stock Appreciation Rights with an Exercise Price or Grant Price above the Fair Market Value per share in exchange for cash or other securities. 

  
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 (g)    Subject to the provisions of the Plan and to the extent expressly
provided in the applicable Award Agreement, the recipient of an Award other than an Option or Stock Appreciation Right may, if so determined by the Committee, be entitled to receive, currently or on a deferred basis, amounts equivalent to cash,
stock, or other property in lieu of dividends on Shares (“Dividend Equivalents”) with respect to the number of shares of Common Stock covered by the Award, as determined by the Committee in its sole discretion. The Committee may
provide that the Dividend Equivalents (if any) shall be deemed to have been reinvested in additional Shares or otherwise reinvested and may provide that the Dividend Equivalents are subject to the same vesting or performance conditions as the
underlying Award. Notwithstanding the foregoing, Dividend Equivalents credited in connection with an Award while the shares of Common Stock are subject to restrictions and risk of forfeiture shall be subject to the same restrictions and risk of
forfeiture as the underlying Award with respect to which such Dividend Equivalents have been credited. 

6.    Grants of Option Rights Generally. The Committee, or the full Board of
Directors, may, from time to time and upon such terms and conditions as it may determine, grant or authorize the granting of Option Rights to Directors, Eligible Employees or Advisors. Each such Award may utilize any or all of the authorizations,
and shall be subject to all of the limitations, contained in the following provisions: 
 (a)    Each Award shall
specify whether it is intended as a grant of Incentive Stock Options or Nonqualified Stock Options (and if nothing is specified then the Award shall be a Nonqualified Stock Option). 

(b)    Each Award shall specify the number of shares of Common Stock to which it pertains. 

(c)    Each Award of Incentive Stock Options shall specify an Exercise Price not less than 100 percent of the Fair
Market Value per share of Common Stock on the date the Incentive Stock Option is granted. 
 (d)    Each Award of
Nonqualified Stock Options shall specify an Exercise Price not less than 100 percent of the Fair Market Value per share of Common Stock on the date the Nonqualified Stock Option is granted unless the Committee elects to structure such Option
Right with limited exercise dates and in compliance with Code Section 409A. 
 (e)    Successive Awards may be made
to the same Optionee whether or not any Option Rights previously granted to such Optionee remain unexercised. 

(f)    Upon exercise of an Option Right, the entire Exercise Price shall be payable (i) in cash, (ii) by the
transfer to BanCorp by the Optionee of shares of Common Stock with a value (Fair Market Value per share times the number of shares) equal to the total Exercise Price (which shall include a “net exercise” in which deliverable upon exercise
of the option are withheld by the Company in satisfaction of all or some of the Exercise Price), (iii) by a combination of such methods of payment described in (i) and (ii) above, or (iv) any other lawful means of payment acceptable to the
Committee. 
 (g)    Each grant of Option Rights shall be evidenced by an Award Agreement executed on behalf of BanCorp
by any officer designated by the Committee for this purpose and delivered to and accepted by the Optionee and shall contain such terms and provisions, consistent with this 2017 Plan, as the Committee may approve. 

  
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 (h)    Except to the extent provided in Section 17, the Board of
Directors and/or the Committee shall not have the power or authority to reduce, whether through amendment or otherwise, the Exercise Price or the Grant Price of any outstanding Option Right or Stock Appreciation Right or to grant any new Award, or
make any cash payment, in substitution for or upon the cancellation of Option Rights or Stock Appreciation Rights previously granted. 
 
7.    Special Rules for Grants of Incentive Stock Options. 
 (a)    As provided
in Section 6(c), the Exercise Price of an Incentive Stock Option shall not be less than 100 percent of the Fair Market Value per share of Common Stock on the date of the grant of the Incentive Stock Option; provided, however, that, if an
Incentive Stock Option is granted to any Eligible Employee who, immediately after such option is granted, is considered to own stock possessing more than ten percent of the combined voting power of all classes of stock of BanCorp, or any of its
subsidiaries, the Exercise Price per share shall be not less than 110 percent of the Fair Market Value per share of Common Stock on the date of the grant of the option, and such option may be exercised only within five years of the date of the
grant. 
 (b)    Except as otherwise provided in Section 7(a), the period of each Incentive Stock Option by its
terms shall be not more than ten years from the date the Option Right is granted as specified by the Committee. 

(c)    The Committee shall establish the time or times within the option period when the Incentive Stock Option may be
exercised in whole or in such parts as may be specified from time to time by the Committee, except that Incentive Stock Options shall not be exercisable earlier than one year, nor later than ten years, following the date the option is granted. The
date of grant of each Option Right shall be the date of its authorization by the Committee. 
 (d)    Except as provided
in Section 17, or as may be provided by the Committee at the time of grant, (i) in the event of the Optionee’s termination of employment due to any cause, including death or retirement, rights to exercise Incentive Stock Options shall
cease, except for those which are exercisable as of the date of termination, (ii) rights that are exercisable as of the date of termination shall remain exercisable for a period of three months following a termination of employment for any
cause other than death or Disability, and for a period of one year following a termination due to death or Disability, and (iii) the right to exercise Incentive Stock Options that are not exercisable as of the date of termination shall be
forfeited. No Incentive Stock Option shall, in any event, be exercised after the expiration of ten years from the date such option is granted, or such earlier date as may be specified in the Option Right. 

(e)    No Incentive Stock Options shall be granted hereunder to any Optionee that would allow the aggregate fair market
value (determined at the time the option is granted) of the stock subject of all Incentive Stock Options, including the Incentive Stock Option in question, which such Optionee may exercise for the first time during any calendar year, to exceed
$100,000. 
 8.    Special Rules for Grants of Nonqualified Stock Options.

 (a)    Except as may be provided by the Committee at the time of grant, (i) in the event of the Optionee’s
termination of employment or service as a Director due to death or Disability, rights to exercise Nonqualified Stock Options that are exercisable as of the date of termination shall remain 

  
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exercisable for one year following termination, (ii) in the event of the Optionee’s termination of employment or service as a Director is due to any other reason, the rights to exercise
Nonqualified Stock Options that are exercisable as of the date of termination shall remain exercisable for three months following termination, and (iii) the right to exercise Nonqualified Stock Options that are not exercisable as of the date of
termination shall be forfeited. 
 (b)    BanCorp shall not create any record or evidence of Common Stock ownership for
an Optionee who exercises a Nonqualified Stock Option, unless payment of the required lawful withholding taxes has been made to BanCorp by check, payroll deduction, shares of Common Stock or other arrangements satisfactory to the Committee. 

9.    Stock Appreciation Rights. 

(a)    Upon such conditions and limitations it deems advisable, the Committee may authorize the grant of Stock
Appreciation Rights with respect to one or more shares of Common Stock. Upon the valid exercise of a vested Stock Appreciation Right, the holder of such Stock Appreciation Right shall receive a lump sum payment for each applicable share of Common
Stock equal to the excess (if any) of (i) the Fair Market Value of one share of Common Stock on the date of exercise, over (ii) the Fair Market Value of one share of Common Stock on the date the Stock Appreciation Right was granted (or
such higher value per share as may be determined by the Committee at the time of grant, i.e., the Grant Price). 

(b)    Upon such conditions and limitations it deems advisable, the Committee also may authorize (i) the surrender of
the right to exercise all or a portion of an Option Right granted under this 2017 Plan that is exercisable at the time of surrender, and (ii) the payment in exchange for the surrender of an amount of up to the excess of the Fair Market Value at
the time of surrender of the shares covered by the Option Right, or portion thereof, surrendered over the Exercise Price or Grant Price of such shares. 

10.    Restricted Stock Awards. 

(a)    Shares of Common Stock granted pursuant to a Restricted Stock Award issued under this 2017 Plan shall not be sold,
exchanged, transferred, assigned, pledged, hypothecated, or otherwise disposed of, prior to the satisfaction of such performance, service and/or elapsed time conditions (“Vesting Conditions”) as may be determined by the Committee in
its absolute discretion. Except as provided in Section 17, or as maybe provided by the Committee at the time of grant, if the recipient’s service with BanCorp or any of its Subsidiaries terminates prior to the satisfaction of all of the
Vesting Conditions for any reason other than death or Disability, the recipient shall, on the date service terminates, forfeit and surrender to BanCorp the number of shares of Common Stock with respect to which the Vesting Conditions have not been
satisfied as of the date service terminates. If Common Stock is forfeited, all dividends or Dividend Equivalents accrued on those shares prior to the date of forfeiture shall also be forfeited. 

(b)    Upon each grant of a Restricted Stock Award, the Committee shall establish the Vesting Conditions. The Committee
also shall determine the manner in which the grant recipient’s contingent ownership of the awarded Common Stock shall be recorded until the Vesting Conditions have been satisfied. If the Committee elects to issue certificates or use other
records of ownership for the awarded shares of Common Stock, each certificate or other record of ownership of Common Stock shall bear a legend or other disclosure to reflect the Vesting Conditions until all of the Vesting Conditions are satisfied.
As a condition to issuance of Common Stock, the Committee may require the recipient to enter into an agreement providing for the Vesting Conditions and such other terms and conditions that it 

  
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prescribes, including, but not limited to, a provision that Common Stock issued to the recipient may be held by an escrow agent until the Vesting Conditions are satisfied. The Committee also may
require a written representation by the recipient that he or she is acquiring the shares for investment. 
 (c)    When
the Vesting Conditions with respect to shares of Common Stock held in escrow have been satisfied, a certificate or other record of ownership for such shares shall be issued or created, free of any escrow; and such certificate or other record shall
not bear a legend or other disclosure relating to the Vesting Conditions. 
 (d)    Each recipient shall agree, at the
time he or she receives a Restricted Stock Award and as a condition thereof, to pay or make arrangements satisfactory to the Committee regarding the payment to BanCorp of any federal, state or local taxes of any kind required by law to be withheld
with respect to any Award or with respect to the lapse of any restrictions on shares of restricted Common Stock awarded under this 2017 Plan, or the waiver of any forfeiture hereunder, and also shall agree that BanCorp may, to the extent permitted
by law, deduct such taxes from any payments of any kind due or to become due to such recipient from BanCorp, sell by public or private sale, with ten days’ notice or such longer notice as may be required by applicable law, a sufficient number
of shares of Common Stock so awarded in order to cover all or part of the amount required to be withheld, or pursue any other remedy at law or in equity. In the event that the recipient of shares of Common Stock under this 2017 Plan shall fail to
pay to BanCorp all such federal, state and local taxes, or to make arrangements satisfactory to the Committee regarding the payment of such taxes, the shares to which such taxes relate shall be forfeited and returned to BanCorp. 

(e)    The Committee shall have the authority at any time to accelerate the time at which any or all of the Vesting
Conditions or other restrictions set forth in this 2017 Plan with respect to any or all shares of restricted Common Stock awarded hereunder shall be satisfied or lapse. 

(f)    Unless otherwise provided by the Committee at the time of grant, if a recipient dies, or terminates employment or
service as a Director with BanCorp because of Disability before the satisfaction of all of the applicable Vesting Conditions, (i) the Vesting Conditions on any Common Stock owned by the recipient shall be considered satisfied on the date of
death or on the date that employment or service as a Director terminates because of Disability, provided such date is not less than four years subsequent to the date of the Award, and (ii) if the date of death or Disability is within four years
of the date of the awards, the Committee, in its sole discretion, can waive the Vesting Conditions as to any or all of the stock. 
 
11.    Restricted Stock Unit Awards. 
 (a)    Subject to the terms and provisions
of this 2017 Plan, the Committee, at any time and from time to time, may grant Restricted Stock Units to Eligible Employees, Directors and/or Advisors in such amounts and upon such terms as the Committee shall determine. 

(b)    Each Restricted Stock Unit Agreement shall specify the number of shares to which the Restricted Stock Unit Award
pertains and is subject to adjustment of such number in accordance with Section 16. Each Award of Restricted Stock Units may or may not be subject to vesting. Vesting shall occur, in full or in installments, upon satisfaction of the conditions
specified in the Restricted Stock Unit Agreement. A Restricted Stock Unit Agreement may provide for accelerated vesting in the event of the Participant’s death, or Disability or other events. 

(c)    The holders of Restricted Stock Units shall have no voting rights. Prior to settlement or forfeiture, any
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discretion, carry with it a right to Dividend Equivalents. A holder of Restricted Stock Units shall have no rights other than those of a general creditor of BanCorp. Restricted Stock Units
represent an unfunded and unsecured obligation of Bancorp, subject to the terms and conditions of the applicable Restricted Stock Unit Agreement. 

(d)    Settlement of vested Restricted Stock Units may be made in the form of (a) cash, (b) shares or (c) any
combination of both, as determined by the Committee. The actual number of Restricted Stock Units eligible for settlement may be larger or smaller than the number included in the original Award. Methods of converting Restricted Stock Units into cash
may include (without limitation) a method based on the average Fair Market Value of Shares over a series of trading days. Except as otherwise provided in a Restricted Stock Unit Agreement or a timely completed deferral election, vested Restricted
Stock Units shall be settled within thirty days after vesting. The distribution may occur or commence when all Vesting Conditions applicable to the Restricted Stock Units have been satisfied or have lapsed, or it may be deferred, in accordance with
applicable law, to a later specified date. The amount of a deferred distribution may be increased by an interest factor or by dividend equivalents. Until an Award of Restricted Stock Units is settled, the number of such Restricted Stock Units shall
be subject to adjustment pursuant to Section 16. 
 12.    Performance
Shares. 
 (a)    Subject to the terms and provisions of this 2017 Plan, the Committee, at any time and from
time to time, may grant Performance Shares to Eligible Employees, Directors and/or Advisors in such amounts and upon such terms as the Committee shall determine. 

(b)    Each Performance Share shall have an initial value equal to the Fair Market Value of a share of Common Stock on the
date of grant. The Committee shall set performance goals in its discretion which, depending on the extent to which they are met, will determine the number of Performance Shares that will be paid out to the Participant. 

(c)    Subject to the terms of this 2017 Plan, after the applicable Performance Period has ended, the holder of
Performance Shares shall be entitled to receive payout on the value and number of Performance Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance goals
have been achieved. 
 (d)    Payment of earned Performance Shares shall be as determined by the Committee and as
evidenced in the Award Agreement. Subject to the terms of this 2017 Plan, the Committee, in its sole discretion, may pay earned Performance Shares in the form of cash or in shares of Common Stock (or in a combination thereof) equal to the value of
the earned Performance Shares at the close of the applicable Performance Period. Payment shall be made no later than the fifteenth (15th) day of the third month after the calendar year in which the Performance Period ended. Any shares of Common
Stock may be granted subject to any restrictions deemed appropriate by the Committee. 

13.    Performance Measures. 

(a)    The performance goals upon which the payment or vesting of an Award is related may be based on upon service
conditions, upon the attainment during a Performance Period of certain performance goals specified in an Award Agreement (“Performance Measures”). 

(b)    The Committee has the authority to provide for accelerated vesting of any Award based on the achievement of
performance goals pursuant to Performance Measures. 

  
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 (c)    The Committee shall retain the discretion to adjust Awards
upwards or downward, either on a formula or discretionary basis or any combination, as the Committee determines. 

(d)    In the event that applicable tax and/or securities laws change to permit Committee discretion to alter the
governing Performance Measures without obtaining shareholder approval of such changes, the Committee shall have sole discretion to make such changes without obtaining shareholder approval. 

14.    Other Stock-Based Awards. The Committee may grant Other Stock-Based
Awards, either alone or in tandem with other Awards, in such amounts and subject to such conditions as the Committee shall determine in its sole discretion. Each Other Stock-Based Award shall be evidenced by an Award Agreement and shall be subject
to such conditions, not inconsistent with the Plan, as may be reflected in the applicable Award Agreement. An Other Stock-Based Award may consist of the issuance of “bonus shares” which are shares of Common Stock awarded to an Eligible
Employee, Director or Adviser without cost and without restriction in recognition of past performance (whether determined by reference to another employee benefit plan of the BanCorp) or as an incentive to become an employee of BanCorp. 

15.    Transferability. No Incentive Stock Option shall be transferable by
an Optionee other than by will or the laws of descent and distribution. Incentive Stock Options shall be exercisable during the Optionee’s lifetime only by the Optionee. Other Awards granted pursuant to this 2017 Plan also shall not be subject
to assignment, alienation, lien, transfer, sale or exchange, except to the extent provided otherwise by the Committee. 
 
16.    Adjustments. The Committee shall make or provide for such adjustments in the maximum number of shares of Common Stock specified in Section 5 (and which can be issued under Incentive Stock Option
exercises), in the maximum share limit provided by Section 5(e), in the numbers of shares of Common Stock covered by other rights granted hereunder, and in the prices per share applicable under all such rights, as the Committee determines is
equitably required to prevent dilution or enlargement of the rights of Participants that otherwise would result from any stock dividend, stock split, combination of shares, recapitalization or other change in the capital structure of BanCorp,
merger, consolidation, spin-off, reorganization, partial or complete liquidation, issuance of rights or warrants to purchase securities, or any other transaction or event having an effect similar to any of the
foregoing. 
 17.    Change in Control. In the event of a Change in
Control of BanCorp: 
 (a)    The Committee shall have the discretion to provide, in any or all Award Agreements, such
terms and conditions as it deems appropriate with respect to (i) the vesting of such Award in the event of a Change in Control, or (ii) the assumption of such Award or the exchange therefor of comparable securities under another incentive
program in the event of a Change in Control or (iii) the cancellation of Awards either with or without consideration in the event of a Change in Control. In addition, the aforementioned terms and conditions may vary from Award Agreement to
Award Agreement as the Committee deems appropriate. 
 (b)    Whether or not the terms of an outstanding Option
Agreement provide for acceleration of vesting in the event of a Change in Control, or to the extent that an Option is vested and not yet exercised, the Committee in its discretion may provide, in connection with the Change in Control transaction,
for the purchase or exchange of any or each Option for an amount of cash or other property having a value equal to the difference (or “spread”) between: (x) the value of the cash or other property that the Participant would have
received pursuant to the Change in Control transaction in exchange for the Shares issuable upon exercise of the Option had the Option been exercised immediately prior to the Change in Control, and (y) the Exercise Price of the Option. 

  
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 (c)    Whether or not the terms of an outstanding Stock Appreciation
Right provide for acceleration of vesting in the event of a Change in Control, or to the extent that an Stock Appreciation Right is vested and not yet exercised, the Committee in its discretion may provide, in connection with the Change in Control
transaction, for the purchase or exchange of any or each Stock Appreciation Right for an amount of cash or other property having a value equal to the value of the cash or other property that the Participant would have received pursuant to the Change
in Control transaction in exchange for the Shares issuable upon exercise of the Stock Appreciation Right had the Stock Appreciation Right been exercised immediately prior to the Change in Control. 

(d)    Notwithstanding anything to the contrary that may be contained elsewhere in this Section 17, the Committee
shall have the power and authority, in its sole discretion, to accelerate the vesting of any or all of the Options and Stock Appreciation Rights and/or the lapse of the restrictions on any or all of the Restricted Stock and Restricted Stock Unit
Awards if the surviving entity in a Change in Control transaction does not agree to assume the Options and Stock Appreciation Rights outstanding under this Plan, or issue Substitute Options or Restricted Stock or Restricted Stock Units or new equity
incentives for the then outstanding Options, Stock Appreciation Rights or Restricted Stock or Restricted Stock Unit Awards. Additionally, the terms and conditions relating to the vesting of Options and Stock Appreciation Rights and the lapse of
restrictions on Restricted Stock and Restricted Stock Unit Awards in the event of the consummation of a Change in Control may vary from Award Agreement to Award Agreement, as the Committee, in its discretion, deems appropriate. 

(e)    All outstanding Options and Stock Appreciation Rights and Restricted Stock Unit Awards shall terminate and cease to
be exercisable upon the consummation of a Change in Control, except to the extent that, with the consent of BanCorp, the Options or Stock Appreciation Rights are assumed by the successor entity (or parent thereof) pursuant to the terms of the Change
in Control transaction. 
 (f)    If BanCorp enters into a definitive agreement that provides for the consummation of a
Change in Control, the Committee shall cause written notice of such proposed Change in Control transaction to be given to Participants not less than fifteen (15) days prior to the anticipated effective date of the proposed Change in Control
transaction; provided, however, that any delay in giving or any failure to give such notice shall not affect the validity of nor shall it entitle any Participant to obtain a delay or postponement in the consummation of the Change in Control
transaction. 
 (g)    Notwithstanding anything to the contrary that may be contained elsewhere in this Section 17
or elsewhere in this Plan, if pursuant to any of the above provisions of this Section 17 above, an acceleration of the vesting of any Options or Stock Appreciation Rights or the lapse of restrictions on any Restricted Stock or Restricted Stock
Unit Awards occurs or is deemed to have occurred immediately prior to the consummation of a Change in Control, but the Change in Control transaction is terminated or abandoned, for any reason whatsoever, before consummation thereof, then such
acceleration of vesting and lapse of restrictions shall be deemed to have not occurred and the vesting schedule for the Options and Stock Appreciation Rights and the schedule or conditions for lapse of restrictions on Restricted Stock and Restricted
Stock Unit Awards, as in effect prior to such acceleration, shall be reinstated to the same extent as if no definitive agreement providing for such Change in Control Transaction had ever been entered into by BanCorp. 

  
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 18.    Fractional Shares.
The Bank shall not issue any fractional shares of Common Stock pursuant to this 2017 Plan. The Committee may provide for the elimination of fractions or for the settlement of fractions in cash. 

19.    Administration of this 2017 Plan. 

(a)    This 2017 Plan shall be administered by the Committee, which shall consist of at least three members of the Board
of Directors each of whom shall satisfy the requirements for (i) an “independent director” under rules adopted by the NASDAQ Stock Market and (ii) a “Non-Employee Director” for
purposes of Rule 16b-3 under the Exchange Act. Members of the Committee and the Chair of the Committee shall be appointed by the Board of Directors and may be replaced at any time by the Board of Directors. At
any time deemed necessary or appropriate by the Board of Directors, the full Board of Directors may act as the Committee. The Committee may employ attorneys, consultants, accountants, agents, and other individuals, any of whom may be an Employee,
and the Committee, BanCorp, and its officers and Directors shall be entitled to rely upon the advice, opinions, or valuations of any such individuals. All actions taken and all interpretations and determinations made by the Committee shall be final
and binding upon the Participants, BanCorp, and all other interested individuals and shall receive maximum deference to the fullest extent provided by applicable law. 

(b)    The Committee shall have full and exclusive discretionary power to interpret the terms and the intent of this 2017
Plan and any Award Agreement or other agreement or document ancillary to or in connection with this 2017 Plan, to determine eligibility for Awards and to adopt and interpret such rules, regulations, forms, instruments, and guidelines for
administering this 2017 Plan as the Committee may deem necessary or proper. Such authority shall include, but not be limited to, (i) selecting Award recipients, (ii) establishing all Award terms and conditions, including the terms and
conditions set forth in Award Agreements and any ancillary document or materials, (iii) granting Awards as an alternative to or as the form of payment for grants or rights earned or due under compensation plans or arrangements of BanCorp,
(iv) construing any ambiguous provision of this 2017 Plan or any Award Agreement, subject to Section 21, adopting modifications and amendments to this 2017 Plan or any Award Agreement, including without limitation, any that are necessary
to comply with the laws of the countries and other jurisdictions in which BanCorp, its affiliates, and/or its Subsidiaries operate, and, (vi) making any other determination and taking any other action that it deems necessary or desirable for
the administration or operation of this 2017 Plan and/or any Award Agreement. 
 (c)    To the extent consistent with
applicable Code requirements, the Committee may delegate to one or more of its members or to one or more officers of BanCorp, and/or its Subsidiaries and affiliates or to one or more agents or advisors such administrative duties or powers as it may
deem advisable, and the Committee or any individuals to whom it has delegated duties or powers as aforesaid may employ one or more individuals to render advice with respect to any responsibility the Committee or such individuals may have under this
2017 Plan. 
 (d)    Notwithstanding any other provision of this 2017 Plan, the Committee may impose such conditions on
the exercise of any right granted hereunder (including, without limitation, the right of the Committee to limit the time of exercise to specified periods) as may be required to satisfy the requirements of applicable law, including Section 16
(or any successor rule) of the Exchange Act. 
 (e)    BanCorp shall have the power and the right to deduct or withhold,
or require a Participant to remit to BanCorp, the amounts necessary to satisfy any federal, state, local, domestic or foreign withholding laws or regulations with respect to any taxable event arising as a result of this 2017 Plan. 

  
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 (f)    With respect to withholding required upon the exercise of Option
Rights or Stock Appreciation Rights, upon the lapse of restrictions on Restricted Stock, Award or upon the achievement of performance goals related to Performance Shares or any other taxable event arising as a result of an Award granted hereunder,
Participants may elect, subject to the approval of the Committee, to satisfy the withholding requirement, in whole or in part, by having BanCorp withhold shares of Common Stock having a Fair Market Value on the date the tax is to be determined equal
to the minimum statutory total tax that could be imposed on the transaction. All such elections shall be irrevocable, and shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 

20.    Clawback. 

If BanCorp is required to prepare a financial restatement due to the material non-compliance of
BanCorp with any financial reporting requirement, then the Committee may require any Section 16 Officer to repay or forfeit to BanCorp, and each Section 16 Officer agrees to so repay or forfeit, that part of the Incentive Compensation
received by that Section 16 Officer during the three-year period preceding the publication of the restated financial statement that the Committee determines was in excess of the amount that such Section 16 Officer would have received had
such Incentive Compensation been calculated based on the financial results reported in the restated financial statement. The Committee may take into account any factors it deems reasonable in determining whether to seek recoupment of previously paid
Incentive Compensation and how much Incentive Compensation to recoup from each Section 16 Officer (which need not be the same amount or proportion for each Section 16 Officer), including any determination by the Committee that a
Section 16 Officer engaged in fraud, willful misconduct or committed grossly negligent acts or omissions which materially contributed to the events that led to the financial restatement. The amount and form of the Incentive Compensation to be
recouped shall be determined by the Committee in its sole and absolute discretion, and recoupment of Incentive Compensation may be made, in the Committee’s sole and absolute discretion, through the cancellation of vested or unvested Awards,
cash repayment or both. Notwithstanding any other provisions in this Plan, any Award which is subject to recovery under any applicable laws, government regulation or stock exchange listing requirement, will be subject to such deductions and
clawback as may be required to be made pursuant to such applicable law, government regulation or stock exchange listing requirement (or any policy adopted by BanCorp pursuant to any such law, government regulation or stock exchange listing
requirement). For purposes of this 2017 Plan, “Section 16 Officer” means any officer of BanCorp whom the Board of Directors has determined is subject to the reporting requirements of Section 16 of the Exchange Act, whether or not
such individual is a Section 16 Officer at the time the determination to recoup compensation is made and “Incentive Compensation” means any annual cash bonus and any Award. 

21.    Amendments, Termination, Etc. 

(a)    The Board of Directors and/or the Committee may, at any time and from time to time, alter, amend, modify, suspend,
or terminate this 2017 Plan and/or any Award Agreement in whole or in part; provided, however, that no material amendment of this Plan shall be made without shareholder approval if shareholder approval is required by applicable law, regulation, or
stock exchange rule. This 2017 Plan, however, shall not be the exclusive means by which the Board of Directors or the Compensation Committee of the Board of Directors may authorize the grant of stock options, restricted stock or other equity,
equity-based or incentive compensation. 
 (b)    The Committee may, with the concurrence of the affected Optionee,
cancel any agreement evidencing Option Rights granted under this 2017 Plan. Subject in all cases to the requirements of Section 5(f), in the event of such cancellation, the Committee may authorize the granting of new Option Rights (which may or
may not cover the same number of shares which had been the subject of the 

  
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prior agreement) in such manner, at such Exercise Price and subject to the same terms and conditions as, under this 2017 Plan, would have been applicable had the canceled Option Rights not been
granted. The cancellation and granting of Option Rights pursuant to this Section 21(b) shall be subject to compliance with the applicable limitations described in Section 5(e) and compliance with Code Section 409A. 

(c)    In the case of any Option Right not immediately exercisable in full, the Committee in its discretion may accelerate
the time at which the Option Right may be exercised, subject to the limitation described in Section 7(c) and any applicable restrictions or limitations imposed by Code Section 409A. 

(d)    Notwithstanding any other provision of this 2017 Plan to the contrary, (i) this 2017 Plan may be terminated at
any time by resolutions of the Board of Directors, and (ii) no rights shall be granted pursuant to this 2017 Plan after May 17, 2027. 

(e)    Notwithstanding any other provision of this 2017 Plan to the contrary (other than Section 21(f)), no
termination, amendment, suspension, or modification of this 2017 Plan or an Award Agreement shall adversely affect in any material way any Award previously granted under this 2017 Plan, without the written consent of the Participant holding such
Award. 
 (f)    Notwithstanding any other provision of this 2017 Plan to the contrary, the Board of Directors may amend
this 2017 Plan or an Award Agreement, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming this 2017 Plan or an Award Agreement to any present or future law relating to plans of this or similar
nature (including, but not limited to, Code Section 409A), and to the administrative regulations and rulings promulgated thereunder. By accepting an Award under this 2017 Plan, a Participant agrees to any amendment made pursuant to this
Section 21(f) to any Award granted under this 2017 Plan without further consideration or action. 
 (g)    The 2017
Plan as well as payments and benefits under the 2017 Plan are intended to be exempt from, or to the extent subject thereto, to comply with Section 409A of the Code, and, accordingly, to the maximum extent permitted, the 2017 Plan shall be
interpreted in accordance therewith. Notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, the Participant shall not be
considered to have terminated employment or service with BanCorp for purposes of the 2017 Plan and no payment shall be due to the Participant under the 2017 Plan or any Award until the Participant would be considered to have incurred a
“separation from service” from BanCorp and its affiliates within the meaning of Section 409A of the Code. Any payments described in the 2017 Plan that are due within the “short term deferral period” as defined in
Section 409A of the Code shall not be treated as nonqualified deferred compensation unless applicable law requires otherwise. Notwithstanding anything to the contrary in the 2017 Plan, to the extent that any Awards (or any other amounts payable
under any plan, program or arrangement of BanCorp or any of its affiliates) are payable upon a separation from service and such payment would result in the imposition of any individual tax and penalty interest charges imposed under Section 409A
of the Code, the settlement and payment of such awards (or other amounts) shall instead be made on the first business day after the date that is six (6) months following such separation from service (or within 30 days after Participant’s
death, if earlier). Each amount to be paid or benefit to be provided under this 2017 Plan shall be construed as a separate identified payment for purposes of Section 409A of the Code. BanCorp makes no representation that any or all of the
payments or benefits described in this 2017 Plan will be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to any such payment. Each Participant shall be solely
responsible for the payment of any taxes, interest and penalties incurred under Section 409A. 

  
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 (h)    In addition to Section 20, the Committee may specify in an
Award Agreement that the Participant’s rights, payments, and benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture, or recoupment upon the occurrence of certain specified events, in addition to any otherwise
applicable vesting or performance conditions of an Award. Such events may include, but shall not be limited to, termination of employment for cause, termination of the Participant’s provision of services to BanCorp, any affiliate of BanCorp,
and/or Subsidiary, violation of any material policies or procedures of BanCorp, the Bank, any affiliate of BanCorp, and/or Subsidiary, breach of noncompetition, confidentiality, or other restrictive covenants that may apply to the Participant, or
other conduct by the Participant that is detrimental to the business or reputation of BanCorp, its affiliates, and/or its Subsidiaries. 

(i)    In the event that any one or more of the provisions of this 2017 Plan shall be or become invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not be affected thereby. If, in the opinion of any court of competent jurisdiction such covenants are not reasonable in any
respect, such court shall have the right, power and authority to excise or modify such provision or provisions of these covenants as to the court shall appear not reasonable and to enforce the remainder of these covenants as so amended. 

(j)    This 2017 Plan, the granting and exercising of Awards thereunder, and any obligations of BanCorp under This 2017
Plan, shall be subject to all applicable federal and state laws, rules, and regulations, and to such approvals by any regulatory or governmental agency as may be required, and to any rules or regulations of any exchange on which the Shares may be
listed. BanCorp, in its discretion, may postpone the granting and exercising of Awards, the issuance or delivery of shares of Common Stock under any Award or any other action permitted under this 2017 Plan to permit BanCorp, with reasonable
diligence, to complete such stock exchange listing or registration or qualification of such shares of Common Stock or other required action under any federal or state law, rule, or regulation and may require any Participant to make such
representations and furnish such information as it may consider appropriate in connection with the issuance or delivery of shares of Common Stock in compliance with applicable laws, rules, and regulations. BanCorp shall not be obligated by virtue of
any provision of this 2017 Plan to recognize the exercise of any Award or to otherwise sell or issue shares of Common Stock in violation of any such laws, rules, or regulations, and any postponement of the exercise or settlement of any Award under
this provision shall not extend the term of such Awards. Neither BanCorp nor its Directors or officers shall have any obligation or liability to a Participant with respect to any Award (or shares of Common Stock issuable thereunder) that shall lapse
because of such postponement. 
 (k)    Nothing in this 2017 Plan shall be construed to limit the right of BanCorp to
establish other plans or to pay compensation to its employees, in cash or property, in a manner which is not expressly authorized under this 2017 Plan. 

(l)    Nothing in this 2017 Plan shall be construed to: (i) limit, impair, or otherwise affect BanCorp’s or a
Subsidiary’s or an affiliate’s right or power to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or any part
of its business or assets; or, (ii) limit the right or power of BanCorp or a Subsidiary or an affiliate to take any action which such entity deems to be necessary or appropriate. 

(m)    The Committee may postpone the exercising of Awards, the issuance or delivery of shares of Common Stock under any
Award or any action permitted under this 2017 Plan to prevent BanCorp or any Subsidiary from being denied a Federal income tax deduction with respect to any Award other than an Incentive Stock Option, in accordance with Treas. Reg. 1.409A-2(b)(7)(i). In such case, payment of such deferred amounts must be made as soon as reasonably practicable following the first date 

  
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on which BanCorp, Subsidiary and/or affiliate of BanCorp anticipates or reasonably should anticipate that, if the payment were made on such date, BanCorp’s, affiliate’s and/or
Subsidiary’s deduction with respect to such payment would no longer be restricted. 
 (n)    The Committee may
require any individual receiving shares of Common Stock pursuant to an Award under this 2017 Plan to represent and warrant in writing that the individual is acquiring the shares of Common Stock for investment and without any present intention to
sell or distribute such shares of Common Stock. 
 (o)    To the extent that this 2017 Plan provides for issuance of
certificates to reflect the transfer of shares of Common Stock, the transfer of such shares of Common Stock may be affected on a noncertificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange. 

(p)    Participants shall have no right, title, or interest whatsoever in or to any investments that BanCorp, and/or its
Subsidiaries, and/or its affiliates may make to aid it in meeting its obligations under this 2017 Plan. Nothing contained in this 2017 Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind,
or a fiduciary relationship between BanCorp and any Participant, beneficiary, legal representative, or any other individual. To the extent that any individual acquires a right to receive payments from BanCorp, its Subsidiaries, and/or its affiliates
under this 2017 Plan, such right shall be no greater than the right of an unsecured general creditor of BanCorp, a Subsidiary, or an affiliate, as the case may be. All payments to be made hereunder shall be paid from the general funds of BanCorp, a
Subsidiary, or an affiliate, as the case may be and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such amounts except as expressly set forth in this 2017 Plan. 

(q)    Except to the extent inconsistent with the terms of any employee benefit plan, policy or program, no amount payable
in respect of any Award shall be treated as compensation for purposes of calculating a Participant’s right under any such plan, policy or program. 

(r)    To the extent permitted by applicable law, BanCorp may (i) deliver by email or other electronic means
(including posting on a web site maintained by BanCorp or by a third party under contract with BanCorp) all documents relating to this 2017 Plan or any Award thereunder (including without limitation, prospectuses required by the U.S. Securities and
Exchange Commission) and all other documents that BanCorp is required to deliver to its security holders (including without limitation, annual reports and proxy statements) and (ii) permit Participants to electronically execute applicable 2017
Plan documents (including, but not limited to, Award Agreements) in a manner prescribed by the Committee. 

(s)    Notwithstanding any provision of this 2017 Plan to the contrary, BanCorp, its affiliates and Subsidiaries, the
Board and the Committee neither represent nor warrant the tax treatment under any federal, state, local or foreign laws and regulations thereunder (individually and collectively referred to as the “Tax Laws”) of any Award granted or any
amounts paid to any Participant under this 2017 Plan including, but not limited to, when and to what extent such Awards or amounts may be subject to tax, penalties and interest under the Tax Laws. 

(t)    Subject to requirements of California state law, each individual who is or shall have been a member of the Board,
or a committee appointed by the Board, or an officer of BanCorp to whom authority was delegated in accordance with this 2017 Plan, shall be indemnified and held harmless by BanCorp against and from any loss, cost, liability, or expense that may be
imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act
under this 2017 Plan and against and from any and all amounts paid by him or her in settlement 

  
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thereof, with BanCorp’s approval, or paid by him or her in satisfaction of any judgment in any such action, suit, or proceeding against him or her, provided he or she shall give BanCorp an
opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his/her own behalf, unless such loss, cost, liability, or expense is a result of his/her own willful misconduct or except as
expressly provided by statute. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such individuals may be entitled under BanCorp’s Articles of Incorporation or Bylaws, as a matter of
law, or otherwise, or any power that BanCorp may have to indemnify them or hold them harmless. 
 (u)    This 2017 Plan
shall be construed and governed in accordance with the laws of the State of California. 
 (v)    The jurisdiction of
any proceeding arising out of, or with respect to, this 2017 Plan shall be in a court of competent jurisdiction in the State of California, and venue shall be in Alameda County. Each party shall be subject to the personal jurisdiction of the courts
of the State of California. 

  
 -18-EX-10.4

 Exhibit 10.4 

CALIFORNIA BANK OF COMMERCE 

2007 EQUITY INCENTIVE PLAN 

Adopted by the Board of Directors on June 21, 2007 

Approved by the Shareholders on July 17, 2007 

1.        Purpose. The 2007 Equity Incentive Plan (the “Plan”) of
California Bank of Commerce, a California corporation (the “Company”), is intended to attract and retain the best available personnel for positions of substantial responsibility, encourage ownership of Stock by
employees and directors of the Company and its Affiliates, to provide additional incentive for them to promote the success of the Company’s business, and to reward Organizers of the Company for placing personal funds at risk by contributing to
the pre-opening funds utilized to organize the Company. The Plan is intended to be an incentive stock option plan within the meaning of Section 422 of the Code, but not all Awards are required to be
Incentive Options. 
 2.        Definitions. As used in the Plan, the following terms shall
have the following meanings: 
 2.1        Accelerate, Accelerated, and
Acceleration means: 
 (a) when used with respect to an Option, that as of the time of reference the Option will become
exercisable with respect to some or all of the Stock for which it was not then otherwise exercisable by its terms; and 
 (b) when used
with respect to Restricted Stock, that the Risk of Forfeiture otherwise applicable to such Restricted Stock shall expire with respect to some or all of the Restricted Stock then still otherwise subject to the Risk of Forfeiture. 

2.2        Acquisition means a merger or consolidation of the Company with or into another
person or the sale, transfer, or other disposition of all or substantially all of the Company’s assets to one or more other persons in a single transaction or series of related transactions. 

2.3        Affiliate means any corporation, partnership, limited liability company, business
trust, or other entity controlling, controlled by or under common control with the Company. 

2.4        Award means any grant or sale pursuant to the Plan of Options, Restricted Stock, or
Stock Grants. 
 2.5        Award Agreement means an agreement between the Company and a
Participant, setting forth the terms and conditions of an Award. 
 2.6        Board means
the Board of Directors of the Company. 
 2.7        Change of Control means and shall be
deemed to have occurred if: 

 (a) any one person, or more than one person acting as a group, acquires ownership of stock
of the Company that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Company; 

(b) a majority of the members of the board of directors of the Company is replaced during any
18-month period by directors whose appointment or election is not endorsed by a majority of the members of the Company’s board of directors prior to the date of appointment or election; or 

(c) one person, or more than one person acting as a group, acquires (or has acquired during the
12-month period ending on the date of the most recent acquisition by such person or group), assets from the Company that have a total gross fair market value equal to or more than 40% of the total gross fair
market value of all assets of the Company immediately prior to such acquisition or acquisitions. For purposes of the preceding clause (c), there is no acquisition of assets if the assets are transferred to: 

(i) a shareholder of the Company in exchange for or with respect to its stock; 

(ii) an entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company; 

(iii) a person, or more than one person acting as a group, that owns, directly or indirectly, 50% or more of the total value or voting power
of all the outstanding stock of the Company; or 
 (iv) an entity, at least 50% of the total value or voting power of which is owned,
directly or indirectly, by a person described in the preceding clause (iii). 
 2.8        Code
means the Internal Revenue Code of 1986, as amended, or any successor statutes thereto, and any regulations issued from time to time thereunder. 

2.9        Committee means the Compensation Committee of the Board, which in general is
responsible for the administration of the Plan, as provided in Section 5. For any period during which no such committee is in existence, “Committee” means the Board, and all authority and responsibility assigned to the Committee under
the Plan shall be exercised, if at all, by the Board. In the discretion of the Board, the Committee may consist solely of two or more Outside Directors, in accordance with Section 162(m) of the Code, or solely of two or more Non- Employee Directors, in accordance with Rule 16b-3 under the Exchange Act. In addition, the Board or the Committee, in its discretion, may delegate to a committee of two
or more persons, who may but need not be Outside Directors or Non-Employee Directors: 
 (a) the
authority to grant Awards to eligible persons who are either: 
 (i) not then Covered Employees and are not expected to be Covered
Employees at the time of recognition of income resulting from such Award, or 

 (ii) not persons with respect to whom the Company wishes to comply with Section 162(m)
of the Code, and/or 
   (b) the authority to grant Awards to eligible persons who are not then subject to Section 16 of the
Exchange Act. 
 2.10        Continuous Service means the absence of any interruption or
termination of service as an employee or director of the Company or any Subsidiary. Continuous Service shall not be considered interrupted during any period of (i) any leave of absence approved by the Company or (ii) transfers between
locations of the Company or between the Company and any Parent, Subsidiary or successor of the Company. Military or sick leave or other public (such as jury duty) or personal leave approved by an authorized representative of the Company shall not be
deemed an interruption or termination of Continuous Service, provided that it does not exceed the longer of 90 days or the period during which the absent Participant’s reemployment rights, if any, are guaranteed by statute or by contract. 

2.11        Covered Employee means an employee who is a “covered employee” within the
meaning of Section 162(m) of the Code. 
 2.12        Effective Date means June 21,
2007, the date the Plan was approved by the Board. 
 2.13        Exchange Act means the
Securities Exchange Act of 1934, as amended. 
 2.14        Exercise Price means the price at
which an Option may be exercised. 
 2.15        Grant Date means the date as of which an
Award is granted, as determined under Section 7.1(a). 
 2.16        Incentive Option
means an Option which by its terms is to be treated as an “incentive stock option” within the meaning of Section 422 of the Code. 

2.17        Market Value means the value of a share of Stock on a particular date determined by
such methods or procedures as may be established by the Committee. Unless otherwise determined by the Committee, the Market Value of a share of Stock as of any date is the closing price as reported on the Nasdaq Capital Market (or on any national
securities exchange or other established market on which or through which the Stock is then traded) for that date or, if no closing price is reported for that date, the closing price on the next preceding date for which a closing price was reported.

 2.18        Nonstatutory Option means any Option that is not an Incentive Option. 

2.19        Option means an Incentive Option or a Nonstatutory Option. 

2.20        Optionee means a Participant to whom an Option shall have been granted under the
Plan or to whom an Option has been transferred pursuant to Section 6.4. 

 2.21        Organizer means the incorporators
of the Company who contributed funds to the Company to pay the Company’s pre-opening expenses. 

2.22        Parent means a parent corporation of the Company, whether now or hereafter
existing, as defined by Section 424(e) of the Code. 
 2.23        Participant means any
recipient or Permitted Transferee of an outstanding Award or of securities issued pursuant to an Award. 

2.24        Performance Criteria means the criteria that the Committee selects for purposes of
establishing the Performance Goal or Performance Goals for a Participant for a Performance Period. The Performance Criteria used to establish Performance Goals are limited to: pre- or after-tax net earnings, sales growth, operating earnings, operating cash flow, return on net assets, return on shareholders’ equity, return on assets, return on capital, Stock price growth, shareholder returns,
gross or net profit margin, earnings per share, price per share of Stock, and market share, any of which may be measured either in absolute terms or as compared to any incremental increase or as compared to results of a peer group. The Committee
will, in the manner and within the time prescribed by Section 162(m) of the Code in the case of Qualified Performance-Based Awards, objectively define the manner of calculating the Performance Criteria it selects to use for such Performance
Period for such Participant. 
 2.25        Performance Goals means the written goals
established by the Committee for a Participant during a Performance Period for such Participant based upon the Performance Criteria. Depending on the Performance Criteria used to establish such Performance Goals, the Performance Goals may be
expressed in terms of overall Company performance or the performance of a division, business unit, Subsidiary, or an individual. 

2.26        Permitted Transferee means any of the persons or entities to which certain awards
may be transferred as provided in Section 6.4 of the Plan. 
 2.27        Person means
an individual, a corporation, a partnership, a limited liability company, an association, a trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

2.28        Qualified Performance-Based Awards means Awards intended to qualify as
“performance-based compensation” under Section 162(m) of the Code as set forth in Section 7.5. 

2.29        Restricted Stock means Stock granted or sold to a Participant subject to a Risk of
Forfeiture. 
 2.30        Restriction Period means the period of time, established by the
Committee in connection with an Award of Restricted Stock, during which the Restricted Stock is subject to a Risk of Forfeiture described in the applicable Award Agreement. 

2.31        Risk of Forfeiture means a limitation on the right of the Participant to retain
Restricted Stock arising because of the occurrence or non-occurrence of specified events or conditions. 

 2.32        Securities Act means the
Securities Act of 1933, as amended. 
 2.33        SEC means the U.S. Securities and Exchange
Commission. 
 2.34        Stock means common stock, no par value, of the Company, and such
other securities as may be substituted for Stock pursuant to Section 8. 
 2.35        Stock
Grant means the grant of Stock not subject to restrictions or other forfeiture conditions. 

2.36        Subsidiary means a subsidiary corporation of the Company, whether now or hereafter
existing, as defined in Section 424(f) of the Code. 
 2.37        Ten Percent Owner
means a person who owns, or is deemed within the meaning of Section 422(b)(6) of the Code to own, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company (or any Parent or Subsidiary of the
Company). Whether a person is a Ten Percent Owner shall be determined with respect to an Option based on the facts existing immediately prior to the Grant Date of the Option. 

2.38        Vesting Commencement Date means, with respect to an Option, the date, determined by
the Committee, on which the vesting of the Option shall commence, which may be the Grant Date or a date prior to or after the Grant Date. 

3.        Term of the Plan. Unless the Plan shall have been earlier terminated by the Board, Awards may
be granted from the time the Plan is approved by the shareholders of the Company until immediately prior to the tenth anniversary of the Effective Date. Awards granted pursuant to the Plan within that period shall not expire solely by reason of the
termination of the Plan. 
 4.        Stock Subject to the Plan. Subject to Section 8, the
maximum aggregate number of shares of Stock which may be issued pursuant to or subject to Awards is 825,000. The maximum aggregate number of shares of Stock which may be issued pursuant to or subject to Incentive Options granted under the Plan is
825,000. The shares of Stock subject to the Plan may be authorized but unissued shares or reacquired shares, bought on the open market or otherwise. If any Option expires, terminates, or is cancelled for any reason without having been exercised in
full, or if any other Award is forfeited by the Participant, the shares of Stock to which the Award relates which are not acquired by the Optionee or which are forfeited by the Participant shall again be available for Awards to be granted under the
Plan. In addition, exercise or settlement of any Award shall not count against the foregoing limitations except to the extent settled in the form of Stock. If any shares subject to an Award are not delivered to a Participant because such shares are
withheld for the payment of taxes or the Award is exercised through a reduction of shares subject to the Award through the “net exercise” feature described herein, the number of shares that are not delivered to the Participant will remain
available for issuance under the Plan. If the Exercise Price of any Award is satisfied by tendering shares of Stock held by the Participant, then the number of shares so tendered will be available for issuance under the Plan. 

5.        Administration. The Plan shall be administered by the Committee; provided, however, that at
any time and on any one or more occasions the Board may itself exercise any of the powers and responsibilities assigned the Committee under the Plan and when so acting shall have 

 
the benefit of all of the provisions of the Plan pertaining to the Committee’s exercise of its authorities hereunder. Subject to the provisions of the Plan, the Committee shall have complete
authority, in its discretion, to make or to select the manner of making all determinations with respect to each Award to be granted by the Company under the Plan, including the employee, director or Organizer to receive the Award and the form of
Award. In making such determinations, the Committee may take into account the nature of the services rendered by the respective employees, directors and Organizers, their present and potential contributions to the success of the Company and
Affiliates, and such other factors as the Committee in its discretion shall deem relevant. Subject to the provisions of the Plan, the Committee shall also have complete authority to interpret the Plan, to prescribe, amend and rescind rules and
regulations relating to it, to determine the terms and provisions of the respective Award Agreements (which need not be identical), and to make all other determinations necessary or advisable for the administration of the Plan. The Committee’s
determinations made in good faith on matters referred to in the Plan shall be final, binding and conclusive on all persons having or claiming any interest under the Plan or an Award made pursuant hereto. 

6.        Authorization of Grants. 

6.1        Eligibility. The Committee may grant from time to time and at any time prior to the
termination or expiration of the Plan one or more Awards, either alone or in combination with any other Awards, to any employee of the Company or any Affiliates or to any member of the Board or of any board of directors (or similar governing
authority) of any Affiliate. Initially, the Committee may also make grants of options to the Company’s Organizers. However, only employees of the Company, and of any Parent or Subsidiary of the Company, shall be eligible for the grant of an
Incentive Option. 
 6.2        General Terms of Awards. Each grant of an Award shall be
subject to all applicable terms and conditions of the Plan (including but not limited to any specific terms and conditions applicable to that type of Award set out in the following Section), and such other terms and conditions, not inconsistent with
the terms of the Plan, as the Committee may prescribe. No prospective Participant shall have any rights with respect to an Award, unless and until such Participant has (a) (i) executed an Award Agreement with respect to such Award and delivered
a fully executed copy of such Award Agreement to the Company, or (ii) otherwise affirmatively assented to the terms and conditions of an Award Agreement with respect to such Award, including by “click through” agreement, pursuant to
procedures and guidelines approved by the Committee, and (b) otherwise complied with the applicable terms and conditions of such Award. The number of Options initially granted to directors and Organizers of the Company who do not also serve as
employees of the Company may not exceed one option for each share of Stock for which the director or organizer subscribed in the Company’s initial public offering of common Stock. 

6.3        Effect of Termination of Employment, Disability or Death. 

(a)    Termination of Employment, Etc. Unless the Committee shall provide otherwise (consistent with applicable
law and other relevant restrictions) with respect to any Award, if the Participant’s Continuous Service ends for any reason other than by total disability or death, including because of the Participant’s employer ceasing to be an
Affiliate, (i) any 

 
outstanding Option of the Participant shall cease to be exercisable in any respect 90 days following that event and, for the period it remains exercisable following that event, shall be
exercisable only to the extent exercisable at the date of that event, subject to the condition that no Option shall be exercised after its expiration in accordance with its terms, and (ii) any other outstanding Award of the Participant shall be
forfeited or otherwise subject to return to the Company on the terms specified in the applicable Award Agreement. 
 (b) Disability of
Participant. Unless the Committee shall provide otherwise (consistent with applicable law and other relevant restrictions) with respect to any Award, if a Participant’s Continuous Service ends due to disability (as defined in
Section 22(e)(3) of the Code), and such Participant was in Continuous Service from the Grant Date until the date of termination of service, (i) any outstanding Option of the Participant shall cease to be exercisable in any respect twelve
months following the date of termination of Continuous Service and, for the period it remains exercisable following that event, shall be exercisable only to the extent exercisable at the date of that event, subject to the condition that no Option
shall be exercised after its expiration in accordance with its terms, and (ii) any other outstanding Award of the Participant shall be forfeited or otherwise subject to return to the Company on the terms specified in the applicable Award
Agreement. 
 (c) Death of Participant. Unless the Committee shall provide otherwise (consistent with applicable law and other
relevant restrictions) with respect to any Award, in the event of the death of a Participant who was in Continuous Service from the Grant Date until the date of death, (i) any outstanding Option of the Participant shall cease to be exercisable
in any respect twelve months following that event and, for the period it remains exercisable following the date of death, shall be exercisable by such Participant’s estate or by a person who acquired the right to exercise such Award by bequest,
inheritance or otherwise as a result of the Participant’s death, but only to the extent exercisable at the date of death, subject to the condition that no Option shall be exercised after its expiration in accordance with its terms, and
(ii) any other outstanding Award of such Participant shall be forfeited or otherwise subject to return to the Company on the terms specified in the applicable Award Agreement. 

(d) Extension of Termination Date. An Award Agreement may provide that if the exercise of the Award following the termination of the
Participant’s Continuous Service would be prohibited at any time solely because the issuance of shares of Stock would violate the registration requirements under the Securities Act, then the Award will terminate on the earlier of (i) the
expiration of the term of the Award set forth in the Award Agreement or (ii) the expiration of a period of three consecutive months after the termination of the Participant’s Continuous Service during which the exercise of the Award would
not be in violation of such registration requirements, but only to the extent exercisable at the date of such termination, subject to the condition that no Option shall be exercised after its expiration in accordance with its terms. Pursuant to the
Code, any extension of the exercisability of an Incentive Option pursuant to this Section 6.3(d) will cause the Incentive Option to be treated as a Nonstatutory Option. 

6.4        Transferability of Awards. Except as otherwise provided in this Section 6.4,
Awards shall not be transferable, and no Award or interest therein may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of 

 
descent and distribution. All of a Participant’s rights in any Award may be exercised during the life of the Participant only by the Participant or the Participant’s legal
representative. However, at any time following the third anniversary of the date on which the Company commences business as a commercial bank the Committee may, at or after the grant of an Award of a Nonstatutory Option or Restricted Stock, provide
that such Award may be transferred by the Participant through a gift or domestic relations order in settlement of marital property rights to any of the following donees or transferees and may be reacquired by the Participant from any of such donors
or transferees (each a “Permitted Transferee”): 
 (a) any “family member,” which includes any child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships and any individual sharing
the Participant’s household (other than a tenant or employee); 
 (b) a trust in which family members have more than 50% of the
beneficial interest; 
 (c) a foundation in which family members (or the Participant) control the management of assets; and 

(d) any other entity in which family members (or the Participant) own more than 50% of the voting interests, 

provided, that (x) any such transfer is without payment of any value whatsoever and that no transfer shall be valid unless first approved by the
Committee, acting in its sole discretion; (y) the Award Agreement pursuant to which such Awards are granted, and any amendments thereto, must be approved by the Committee and must expressly provide for transferability in a manner consistent with
this Section 6.4; and (z) subsequent transfers of transferred Awards shall be prohibited except in accordance with this Section 6.4. Following transfer, any such Awards and any securities issued pursuant thereto shall continue to be
subject to the same terms and conditions as were applicable immediately prior to transfer, provided that the term of the Plan and the Award Agreement shall continue to be applied with respect to the original Participant, and any Awards shall be
exercisable by the transferee only to the extent and for the periods specified in the Award Agreement or Section 6.3, as applicable. 

6.5        Cancellation of Awards For Improper Acts of Participant. If, at any time during the
course of a Participant’s employment with the Company or any Affiliates, a Participant engages in any activity in competition with any business activity of the Company or any Affiliates, or inimical, contrary or harmful to the interests of the
Company or any Affiliates, including, but not limited to: 
 (a) conduct related to the Participant’s employment for which either
criminal or civil penalties may be sought, 
 (b) violation of the policies of the Company or any Affiliates, including, without
limitation, personnel and insider trading policies, 

 (c) being employed by or serving as a consultant, advisor or in any other capacity to an
employer that is in competition with or acting against the interests of the Company or any Affiliates, 
 (d) disclosing or misusing any
confidential information or material concerning the Company or any Affiliates, or 
 (e) participating in a hostile takeover attempt,
tender offer or proxy contest involving the Company or any Affiliates, 
 then all Awards shall terminate and be forfeited effective the date on which the
Participant enters into such activity, unless terminated or forfeited sooner by operation of another term of condition of the Plan or an Award Agreement or by operation of law. 

7.        Specific Terms of Awards. 

7.1        Options. 

(a) Date of Grant. The granting of an Option shall take place at the time specified in the Award Agreement. 

(b) Exercise Price. Unless otherwise provided by law, the per share price at which Stock may be acquired under each Incentive Option
and each Nonstatutory Stock Option shall be not less than 100% of the Market Value of a share of Stock on the Grant Date, or not less than 110% of the Market Value of a share of Stock on the Grant Date if the Optionee is a Ten Percent Owner. 

(c) Exercise Period. No Incentive Option may be exercised on or after the tenth anniversary of the Grant Date, or on or after the
fifth anniversary of the Grant Date if the Optionee is a Ten Percent Owner. No Nonstatutory Option may be exercised on or after the tenth anniversary of the Grant Date. 

(d) Exercisability. An Option granted to an Organizer may be immediately exercisable. Options granted to officers and directors may
become exercisable in such installments, cumulative or non-cumulative, as the Committee may determine; provided, however, that in no case may Options vest at a rate (i) greater than approximately equal
percentages each year over three years from the date the Option is granted, or (ii) of less than 20 percent per year over five years from the date the option is granted at the end of each successive anniversary thereafter until all of the
Stock subject to the Option has vested, subject to Sections 6.3 and 8.2. In the case of an Option not otherwise immediately exercisable in full, the Committee may Accelerate such Option in whole or in part at any time after three years from the date
the Option is granted; provided, that in the case of an Incentive Option, any such Acceleration of the Option would not cause the Option to fail to comply with the provisions of Section 422 of the Code or the Optionee consents to the
Acceleration. 
 (e) Method of Exercise. An Option may be exercised by the Optionee giving written notice, in the manner provided in
Section 16, specifying the number of shares of Stock with respect to which the Option is then being exercised. The notice shall be accompanied by 

 
payment in the form of cash or check payable to the order of the Company in an amount equal to the Exercise Price of the Stock to be purchased plus any applicable tax withholding or, if the
Committee had so authorized upon the grant of an Incentive Option or on or after grant of a Nonstatutory Option (and subject to such conditions, if any, as the Committee may deem necessary to avoid adverse accounting or tax effects on the Company)
by: 
 (i)        delivery to the Company of Stock having a Market Value equal to the Exercise
Price of the shares of Stock with respect to which the Option is then being exercised, 
 (ii)       a
“net exercise” of the Option (as further described below); provided, however, that an option may not be exercised through a “net exercise” procedure during the first three years following the date on which the Company commences
business as a commercial bank, 
 (iii)      delivery to the Company of a cash payment made pursuant to a
“cashless” exercise program (as further described below); provided, however, that an option may not be exercised through a “cashless” exercise procedure during the first three years following the date on which the Company
commences business as a commercial bank, 
 (iv)       any other form of legal consideration that may be
acceptable to the Committee. 
 Subject to compliance with applicable law and regulation, including but not limited to Section 402 of
the Sarbanes-Oxley Act of 2002, if the Stock is traded on an established market, payment of any Exercise Price may also be made through and under the terms and conditions of any formal “cashless” exercise program authorized by the Company
entailing the sale of the Stock subject to an Option in a brokered transaction (other than to the Company). Receipt by the Company of such notice and payment in any authorized or combination of authorized means shall constitute the exercise of the
Option. Within 30 days thereafter but subject to the remaining provisions of the Plan, the Company shall deliver or cause to be delivered to the Optionee or his agent a certificate or certificates for the number of shares of Stock then being
purchased. Stock issued and paid for pursuant to this section shall be fully paid and nonassessable. 
 In the case of a “net
exercise” of an Option, the Company will not require a payment of the Exercise Price of the Option from the Participant but will reduce the number of shares of Stock issued upon the exercise by the largest number of whole shares that have a
Fair Market Value that does not exceed the aggregate Exercise Price. With respect to any remaining balance of the aggregate Exercise Price, the Company will accept a cash payment from the Participant. 

The number of shares of Stock underlying an Option will decrease following the exercise of such Option to the extent of (i) shares used
to pay the Exercise Price of an Option under the “net exercise” feature, (ii) shares actually delivered to the Participant as a result of such exercise and (iii) shares withheld for purposes of tax withholding. 

 (f) Early Exercise. The Option may include a provision whereby the Participant may
elect at any time before his or her Continuous Service terminates to exercise the Option as to any part or all of the shares of Stock subject to the Option prior to the full vesting of the Option. Any unvested shares of Stock so purchased may be
subject to any other restriction the Committee determines to be appropriate. 
 (g) Limit on Incentive Option Characterization. An
Option shall be considered to be an Incentive Option only to the extent that the number of shares of Stock for which the Option first becomes exercisable in a calendar year do not have an aggregate Market Value (as of the date of the grant of the
Option) in excess of the “current limit.” The current limit for any Optionee for any calendar year shall be $100,000 minus the aggregate Market Value at the date of grant of the number of shares of Stock available for purchase for
the first time in the same year under each other incentive option previously granted to the Optionee under all other plans of the Company and Affiliates. Any Stock which would cause the foregoing limit to be violated shall be deemed to have been
granted under a separate Nonstatutory Option, otherwise identical in its terms to those of the Incentive Option. The current limit will be calculated according to the chronological order in which the Options were granted. 

(h) Notification of Disposition. Each person exercising any Incentive Option granted under the Plan shall be deemed to have covenanted
with the Company to report to the Company any disposition of such shares prior to the expiration of the holding periods specified by Section 422(a)(1) of the Code and, if and to the extent that the realization of income in such a disposition
imposes upon the Company federal, state, local or other withholding tax requirements, or any such withholding is required to secure for the Company an otherwise available tax deduction, promptly to remit to the Company an amount in cash sufficient
to satisfy those requirements. 
 7.2        Restricted Stock. 

(a) Purchase Price. Shares of Restricted Stock shall be issued under the Plan for such consideration, in cash, other property or
services, or any combination thereof, as is determined by the Committee. Organizers who do not also serve as directors or employees of the Company shall not be eligible for grants of Restricted Stock. 

(b) Issuance of Certificates. Each Participant receiving a Restricted Stock Award, subject to Section 7.3(c), shall be issued a
stock certificate in respect of such Restricted Stock. Such certificate shall be registered in the name of such Participant, and, if applicable, shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such
Award which includes language substantially in the following form: 
 THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS OF THE 2007 EQUITY INCENTIVE PLAN OF THE ISSUER AND AN AWARD AGREEMENT ENTERED INTO BY THE REGISTERED OWNER AND THE ISSUER. COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE OFFICES OF THE
ISSUER. 

 (c) Escrow of Shares. The Committee may require that the stock certificates
evidencing Restricted Stock be held in custody by a designated escrow agent (which may but need not be the Company) until the restrictions thereon shall have lapsed, and that the Participant deliver a stock power, endorsed in blank, relating to the
Stock covered by such Award. 
 (d) Restrictions and Restriction Period. During the Restriction Period applicable to Restricted
Stock, such shares shall be subject to limitations on transferability and a Risk of Forfeiture arising on the basis of such conditions related to the performance of services, Company or Affiliate performance or otherwise as the Committee may
determine and provide for in the applicable Award Agreement. A Restriction Period may not expire during the first three years following the date on which the Company commences business as a commercial bank. Any such Risk of Forfeiture may be waived
or terminated, or the Restriction Period shortened, at any time by the Committee on such basis as it deems appropriate; provided, however, that no Restriction Period may be shortened during the first three years following the date on which the
Company commences business as a commercial bank. 
 (e) Rights Pending Lapse of Risk of Forfeiture, or Forfeiture of Award. Except
as otherwise provided in the Plan or the applicable Award Agreement, at all times prior to lapse of any Risk of Forfeiture applicable to, or forfeiture of, an Award of Restricted Stock, the Participant shall have all of the rights of a shareholder
of the Company, including the right to vote, and the right to receive any dividends with respect to, the Restricted Stock. The Committee, as determined at the time the Award is made, may permit or require the payment of cash dividends to be deferred
and, if the Committee so determines, reinvested in additional shares of Restricted Stock to the extent shares are available under Section 4 and otherwise to be subject to the terms of the Plan. 

(f) Lapse of Restrictions. If and when the Restriction Period expires without a prior forfeiture of the Restricted Stock, the
certificates for such shares shall be delivered to the Participant promptly if not theretofore so delivered. 

7.3        Stock Grants. Stock Grants shall be awarded solely in recognition of significant
contributions to the success of the Company or Affiliates, in lieu of compensation otherwise already due or in such other limited circumstances as the Committee deems appropriate. Stock Grants shall be made without forfeiture conditions of any kind.
Stock Grants may not be made during the first three years following the date on which the Company commences business as a commercial bank. 

7.4        Qualified Performance-Based Awards. 

(a) Purpose. The purpose of this Section 7.4 is to provide the Committee the ability to qualify Awards as “performance-based
compensation” under Section 162(m) of the Code. If the Committee, in its discretion, decides to grant an Award as a Qualified Performance- Based Award, the provisions of this Section 7.4 will control over any contrary provision
contained in the Plan. In the course of granting any Award, the Committee may specifically designate the Award as intended to qualify as a Qualified Performance-Based Award. However, no Award shall be considered to have failed to qualify as a
Qualified Performance-Based Award solely because the Award is not expressly designated as a Qualified Performance-Based Award, 

 
if the Award otherwise satisfies the provisions of this Section 7.4 and the requirements of Section 162(m) of the Code and the regulations promulgated thereunder applicable to
“performance-based compensation.” 
 (b) Authority. All grants of Awards intended to qualify as Qualified
Performance-Based Awards and determination of terms applicable thereto shall be made by the Committee or, if not all of the members thereof qualify as “Outside Directors” within the meaning of applicable IRS regulations under
Section 162 of the Code, a subcommittee of the Committee consisting of such of the members of the Committee as do so qualify. Any action by such a subcommittee shall be considered the action of the Committee for purposes of the Plan. 

(c) Applicability. This Section 7.4 will apply only to those Covered Employees, or to those persons who the Committee determines
are reasonably likely to become Covered Employees in the period covered by an Award, selected by the Committee to receive Qualified Performance-Based Awards. The Committee may, in its discretion, grant Awards to Covered Employees that do not satisfy
the requirements of this Section 7.4. 
 (d) Discretion of Committee with Respect to Qualified Performance-Based Awards.
Options may be granted as Qualified Performance-Based Awards in accordance with Section 7.1, except that the Exercise Price of any Option intended to qualify as a Qualified Performance-Based Award shall in no event be less that the Market Value
of the Stock on the date of grant. With regard to other Awards intended to qualify as Qualified Performance-Based Awards, such as Restricted Stock, the Committee will have full discretion to select the length of any applicable Restriction Period,
the kind or level of the applicable Performance Goal, and whether the Performance Goal is to apply to the Company, a Subsidiary or any division or business unit or to the individual. Any Performance Goal or Goals applicable to Qualified
Performance-Based Awards shall be objective, shall be established not later than 90 days after the beginning of any applicable Performance Period (or at such other date as may be required or permitted for “performance-based compensation”
under Section 162(m) of the Code) and shall otherwise meet the requirements of Section 162(m) of the Code, including the requirement that the outcome of the Performance Goal or Goals be substantially uncertain (as defined in the
regulations under Section 162(m) of the Code) at the time established. 
 (e) Payment of Qualified Performance-Based Awards. A
Participant will be eligible to receive payment under a Qualified Performance-Based Award which is subject to achievement of a Performance Goal or Goals only if the applicable Performance Goal or Goals are achieved, as determined by the Committee.
In determining the actual size of an individual Qualified Performance-Based Award, the Committee may reduce or eliminate the amount of the Qualified Performance-Based Award earned, if in its sole and absolute discretion, such reduction or
elimination is appropriate. 
 (f) Maximum Award Payable. The maximum Qualified Performance-Based Award payment to any one
Participant under the Plan is five percent of the number of shares of Stock set forth in Section 4, or if the Qualified Performance-Based Award is paid in cash, that number of shares multiplied by the Market Value of the Stock as of the date
the Qualified Performance-Based Award is granted. 

 (g) Limitation on Adjustments for Certain Events. No adjustment of any Qualified
Performance-Based Award pursuant to Section 8 shall be made except on such basis, if any, as will not cause such Award to provide other than “performance-based compensation” within the meaning of Section 162(m) of the Code. 

7.5        Awards to Participants Outside the United States. The Committee may modify the terms
of any Award under the Plan, granted to a Participant who is, at the time of grant or during the term of the Award, resident or primarily employed outside of the United States in any manner deemed by the Committee to be necessary or appropriate in
order that the Award shall conform to laws, regulations, and customs of the country in which the Participant is then resident or primarily employed, or so that the value and other benefits of the Award to the Participant, as affected by foreign tax
laws and other restrictions applicable as a result of the Participant’s residence or employment abroad, shall be comparable to the value of such an Award to a Participant who is resident or primarily employed in the United States. The Committee
may establish supplements to, or amendments, restatements, or alternative versions of, the Plan for the purpose of granting and administrating any such modified Award. No such modification, supplement, amendment, restatement or alternative version
may increase the share limit of Section 4. 
 7.6        Award as Deferred Compensation.
Notwithstanding any other provisions of the Plan, it is not intended that any grant of an Award shall result in the deferral of compensation within the meaning of Section 409A of the Code; provided, however, that to the extent the grant of
an Award would result in the deferral of compensation under Section 409A of the Code, such Award shall comply with the requirements of Section 409A of the Code. 

8.        Adjustment Provisions. 

8.1        Adjustment for Corporate Actions. All of the share numbers set forth in
Section 4 reflect the capital structure of the Company as of the Effective Date. Subject to Section 8.2, if subsequent to the Effective Date the outstanding number of shares of Stock (or any other securities covered by the Plan by reason
of the prior application of this Section) are increased, decreased, or exchanged for a different number or kind of shares or other securities, or if additional shares or new or different shares or other securities are distributed with respect to
such outstanding Stock, through merger, consolidation, sale of all or substantially all the property of the Company, reorganization, combination, recapitalization, reclassification, stock dividend, stock split, reverse stock split, or other similar
distribution of the Company’s equity securities without the receipt of consideration by the Company, an appropriate and proportionate adjustment will be made in (i) the maximum numbers and kinds of shares provided in Section 4, (ii)
the numbers and kinds of shares or other securities subject to the then outstanding Awards, and (iii) the Exercise Price for each share or other unit of any other securities subject to then outstanding Awards (without change in the aggregate
purchase price as to which such Awards remain exercisable). 
 8.2        Treatment in Certain
Acquisitions. 
 (a) Subject to any provisions of then outstanding Awards granting different rights to the holders thereof, and at any
time following the third anniversary of the date on which the 

 
Company commences business as a commercial bank, in the event of an Acquisition constituting a Change of Control in which some or all outstanding Awards are not Accelerated, any then outstanding
Awards shall nevertheless Accelerate to the extent not assumed or replaced by comparable Awards referencing shares of the capital stock of the successor or acquiring entity or the entity in control of such successor or acquiring entity, and at the
effective time of such Acquisition (or after a reasonable period following such Acquisition, as determined by the Committee) terminate. As to any one or more outstanding Awards which are not otherwise Accelerated in full by reason of such
Acquisition, the Committee may also, either in advance of such Acquisition or at the effective time thereof and upon such terms as it may deem appropriate, provide for the Acceleration of such outstanding Awards in the event that the employment of
the Participants should subsequently terminate following such Acquisition. Each outstanding Award that is assumed in connection with such Acquisition, or is otherwise to continue in effect subsequent to such Acquisition, will be appropriately
adjusted, immediately after such Acquisition, as to the number and class of securities and other relevant terms in accordance with Section 8.1. 

(b) For the purposes of this Section 8.2, an Award shall be considered assumed or replaced by a comparable Award if, following the
Acquisition constituting a Change of Control, the replacement award confers the right to receive, for each share of Stock subject or relating to the Award immediately prior to such Acquisition: 

(i) the consideration (whether stock, cash or other securities or property) received in such Acquisition by holders of Stock on the effective
date of such Acquisition (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Stock); provided, however, that if such consideration received in such Acquisition was
not solely common stock of the successor corporation or its Parent or Subsidiary, the Committee may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of the Award for each share of Stock
subject to the Award to be solely common stock of the successor corporation or its Parent or Subsidiary equal in fair market value to the per share consideration received by holders of Stock in such Acquisition; or 

(ii) in the case of Awards which are payable otherwise than in Stock or other securities of the Company or other property, the same
consideration which the Participant would have been entitled to receive had no such Acquisition occurred. 

8.3        Dissolution or Liquidation. Upon dissolution or liquidation of the Company, other
than as part of an Acquisition or similar transaction, (a) each outstanding Option shall terminate, but the Optionee shall have the right, immediately prior to such dissolution or liquidation, to exercise the Option to the extent exercisable on
the date of dissolution or liquidation; (b) each share of Restricted Stock that is subject to a Risk of Forfeiture immediately prior to such dissolution or liquidation may, at the election of the Company, be forfeited by the Company prior to
such dissolution or liquidation pursuant to the terms of the applicable Award Agreement; and (c) subject to subparts (a) and (b) of this Section 8.3, each other outstanding Award shall be forfeited. 

 8.4        Adjustment of Awards Upon the
Occurrence of Certain Unusual or Nonrecurring Events. In the event of any corporate action not specifically covered by the preceding sections that occurs more than three years after the date on which the Company commences business as a
commercial bank, including but not limited to an extraordinary cash distribution on Stock, a corporate separation or other reorganization or liquidation, the Committee may make such adjustment of outstanding Awards and their terms, if any, as it, in
its sole discretion, may deem equitable and appropriate in the circumstances. The Committee may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including,
without limitation, the events described in this Section 8.4) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such
adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or to provide for or preserve the appropriate tax benefits to the Company. 

8.5        Related Matters. Any adjustment in Awards made pursuant to this Section 8 shall
be determined and made, if at all, by the Committee and shall include any correlative modification of terms, including of Option Exercise Prices, rates of vesting or exercisability, Risks of Forfeiture, and Performance Goals and other financial
objectives which the Committee may deem necessary or appropriate so as to ensure the rights of the Participants in their respective Awards are not substantially diminished nor enlarged as a result of the adjustment and corporate action other than as
expressly contemplated in this Section 8. 
 8.6        Fractional Shares Prohibited. No
fraction of a share shall be purchasable or deliverable in payment of an Award, but in the event any adjustment hereunder of the number of shares covered by an Award shall cause such number to include a fraction of a share, such number of shares
shall be adjusted to the nearest smaller whole number of shares. 
 9.        Settlement of Awards 

9.1        Violation of Law. Notwithstanding any other provision of the Plan or the relevant
Award Agreement, if, at any time, in the reasonable opinion of the Company, the issuance of Stock covered by an Award may constitute a violation of applicable law, rule, regulation or any listing standard of any market on which or through which the
Company’s securities may be traded, then the Company may delay such issuance and the delivery of a certificate for such shares until compliance with such provisions has been obtained. 

9.2        Corporate Restrictions on Rights in Stock. Any securities to be issued pursuant to
Awards shall be subject to all restrictions upon the transfer thereof which may be now or hereafter imposed by the articles of incorporation and bylaws of the Company and applicable law. 

9.3        Investment Representations. The Company shall be under no obligation to issue any
securities covered by any Award unless they have been effectively registered under the Securities Act, or the Participant or his or her Permitted Transferee shall have made such written representations to the Company or otherwise (which the Company
believes may be reasonably relied upon) as the Company may deem necessary or appropriate for purposes of confirming that 

 
the issuance of such securities will be exempt from the registration requirements of the Securities Act and any applicable state securities laws and otherwise in compliance with all applicable
laws, rules and regulations, including but not limited to that the Participant or his or her Permitted Transferee is acquiring the securities for such person’s own account for the purpose of investment and not with a view to, or for sale in
connection with, the distribution of any such securities. The Company may require a Participant or his or her Permitted Transferee, as a condition of exercising or acquiring securities under any Award or transferring any award as may be permitted by
the Plan, (i) to give written assurances satisfactory to the Company as to the Participant’s or his or her Permitted Transferee’s knowledge and experience in financial and business matters and/or to employ a purchaser representative
reasonably satisfactory to the Company who is knowledgeable and experienced in financial and business matters, and that the Participant or his or her Permitted Transferee is capable of evaluating, alone or together with the purchaser representative,
the merits and risks of exercising the Award; and (ii) to give written assurances satisfactory to the Company stating that the Participant or his or her Permitted Transferee is acquiring securities subject to the Award for the
Participant’s or his or her Permitted Transferee’s own account and not with any present intention of selling or otherwise distributing the securities. 

9.4        Registration. 

(a) SEC Registration. If the Company shall deem it necessary or desirable to register under the Securities Act or other applicable
statutes any securities issued or to be issued pursuant to Awards, or to qualify any such securities for exemption from the Securities Act or other applicable statutes, then the Company shall take such action at its own expense. The Company may
require from each Participant, or each holder of securities acquired pursuant to the Plan, such information in writing for use in any registration statement, prospectus, preliminary prospectus or offering circular as is reasonably necessary for that
purpose and may require reasonable indemnity to the Company and its Affiliates and their respective officers, directors, agents, advisors and employees from that holder against all losses, claims, damage and liabilities arising from use of the
information so furnished and caused by any untrue statement of any material fact therein or caused by the omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the
circumstances under which they were made. 
 (b) Lock-Ups. In addition, the Company may
require of any person holding an Award or securities issued pursuant to an Award that such person agree that, without the prior written consent of the Company, such person will not sell, make any short sale of, lend, grant any option for the
purchase of, pledge or otherwise encumber, or otherwise dispose of, any securities which were or may be issued pursuant to an Award or any interest therein during the 180-day period commencing on the effective
date of the registration statement (or commencing on the closing date of any offering of the Company’s securities registered pursuant to a shelf registration statement, whichever is applicable) relating to an underwritten public offering.
Without limiting the generality of the foregoing provisions of this Section 9.5, if in connection with any underwritten public offering of securities of the Company the managing underwriter of such offering requests that the Company’s
directors and officers enter into a lock-up agreement containing provisions that are more restrictive than the provisions set forth in the preceding sentence, then (a) to the extent requested by the
Company, each holder of securities acquired 

 
pursuant to the Plan (regardless of whether such person has complied or complies with the provisions of clause (b) below) shall be bound by, and shall be deemed to have agreed to, the same lock-up terms as those to which the Company’s directors and officers are required to adhere; and (b) at the request of the Company, each such person shall execute and deliver a lock- up agreement in form
and substance equivalent to that which is required to be executed by the Company’s directors and officers. 

9.5        Placement of Legends; Stop Orders; etc. Each certificate for securities to be issued
pursuant to Awards may bear a reference to the investment representation made in accordance with Section 9.4 in addition to any other applicable restriction under the Plan, the terms of the Award and, if applicable, to the fact that no
registration statement has been filed with the SEC and no registration or qualification has been filed under any state securities or blue sky laws in respect to such securities. All certificates for Stock or other securities delivered under the Plan
shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations, and other requirements of any stock exchange or market on which or through which the Company’s securities are
then traded, and any applicable federal or state securities law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

9.6        Tax Withholding. Whenever shares of Stock are issued or to be issued pursuant to
Awards, the Company shall have the right to require the Participant to remit to the Company an amount sufficient to satisfy federal, state, local or other withholding tax requirements if, when, and to the extent required by law (whether so required
to secure for the Company an otherwise available tax deduction or otherwise) prior to the delivery of any certificate or certificates for such shares. The obligations of the Company under the Plan shall be conditional on satisfaction of all such
withholding obligations and the Company shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the Participant. However, in such cases Participants may elect, subject to the
approval of the Committee, to satisfy an applicable withholding requirement, in whole or in part, by having the Company withhold shares of Stock from Stock otherwise due to the Participant in payment of an Award, or to submit shares of Stock
previously owned by the Participant, to satisfy their tax obligations. 
 9.7        Participants
may only elect to have shares withheld having a Market Value on the date the tax is to be determined equal to the minimum statutory total tax which could be imposed as a result of the transaction. All elections shall be irrevocable, made in writing,
signed by the Participant, and shall be subject to any restrictions or limitations that the Committee deems appropriate. 

10.        Reservation of Stock. The Company shall at all times during the term of the Plan and any
outstanding Awards granted hereunder reserve or otherwise keep available such number of shares of Stock as will be sufficient to satisfy the requirements of the Plan (if then in effect) and the Awards, and shall pay all fees and expenses necessarily
incurred by the Company in connection therewith. 
 11.        Use of Proceeds. Proceeds from the sale
of the Company’s securities pursuant to Awards will constitute general funds of the Company. 

 12.        Limitation of Rights in Stock; No Special
Service Rights. Subject to Section 7.3(e), a Participant shall not be deemed for any purpose to be a shareholder of the Company with respect to any of the Stock subject to an Award, unless and until a certificate shall have been issued
therefor and delivered to the Participant or his/her agent. Nothing contained in the Plan or in any Award Agreement shall confer upon any Participant any right to the continuation of such Participant’s employment or other association with the
Company (or any Affiliate), or interfere in any way with the right of the Company (or any Affiliate), subject to the terms of any separate employment or provision of law or articles of incorporation or bylaws to the contrary, at any time to
terminate such employment or other association or to increase or decrease, or otherwise adjust, the other terms and conditions of the Participant’s employment or other association with the Company and Affiliates. 

13.        Unfunded Status of the Plan. The Plan is intended to constitute an “unfunded” plan
for incentive compensation, and the Plan is not intended to constitute a plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended. With respect to any payments not yet made to a Participant by the Company,
nothing contained in this Plan shall give any such Participant any rights that are greater than those of an unsecured general creditor of the Company. In its sole discretion, the Committee may authorize the creation of trusts or other arrangements
to meet the obligations created under the Plan to make payment of Awards, provided, however, that the existence of such trusts or other arrangements is consistent with the unfunded status of the Plan. 

14.        Exercise of Forfeiture at Direction of FDIC. Options granted pursuant to the Plan shall be
either immediately exercised or (at the discretion of the Optionee) forfeited in the event the Federal Deposit Insurance Corporation directs the Company to require immediate exercise or forfeiture as a result of the company’s capital failing to
meet minimum regulatory capital requirements. 
 15.        Nonexclusivity of the Plan. Neither the
adoption of the Plan by the Board nor the submission of the Plan to the shareholders of the Company shall be construed as creating any limitations on the power of the Company to adopt such other incentive arrangements as it may deem desirable,
including without limitation, the granting of stock options, restricted stock and other forms of compensation (incentive or otherwise) other than under the Plan upon such terms as the Company may determine from time to time. 

 16.        Termination and Amendment of the Plan. 

16.1        The Board may at any time terminate the Plan or make such modifications of the Plan as it
shall deem advisable to the extent permitted by applicable law and the rules and regulations of any market on which or through which the Company’s securities may be traded. Unless the Board otherwise expressly provides, no amendment of the Plan
shall affect the terms of any Award outstanding on the date of such amendment unless such amendment is necessary to comply with Section 409A of the Code. In any case, no termination or amendment of the Plan may, without the consent of any
Participant, adversely affect the rights of the Participant under such Award. 

16.2        The Committee may amend the terms of any Award theretofore granted,
prospectively or retroactively, provided that the Award as amended is consistent with the terms of the Plan, but no such amendment shall impair the rights of the Participant without such Participant’s consent unless the impairment of such
rights is necessary to comply with Section 409A of the Code. 
 16.3        No
amendment will be effective unless approved by the shareholders of the Company to the extent shareholder approval is necessary to satisfy applicable law or the rules and regulations of any market on which or through which the Company’s
securities may be traded. 
 17.        Notices and Other Communications. Any notice, demand, request
or other communication hereunder to any party shall be deemed to be sufficient if contained in a written instrument delivered in person or duly sent by first class, registered, certified or overnight mail, postage prepaid, or telecopied with a
confirmation copy by first class, registered, certified or overnight mail, addressed or telecopied, as the case may be, (i) if to the Participant, at such Participant’s residence or business address last filed with the Company and
(ii) if to the Company, at its principal place of business, addressed to the attention of its Chief Financial Officer, or to such other address or telecopier number or electronic mail address, as the case may be, as the addressee may have
designated by notice to the addressor. All such notices, requests, demands and other communications shall be deemed to have been received: (i) in the case of personal delivery, on the date of such delivery; (ii) in the case of mailing,
when received by the addressee; (iii) in the case of facsimile transmission, when confirmed by facsimile machine report; and (iv) in the case of electronic mail, when directed to an electronic mail address at which the receiving party has
consented to receive notice, provided, that such consent is deemed revoked if the sender is unable to deliver by electronic transmission two consecutive notices and such inability becomes known to the secretary or assistant secretary of the Company
or to the transfer agent, or other person responsible for giving notice. 
 18.        Governing Law.
The Plan and all Award Agreements and actions taken thereunder shall be governed, interpreted and enforced in accordance with the laws of the State of California, without regard to the conflict of laws principles thereof. 

 19.        Miscellaneous. 

(a) Limitation on Securities Issuable. At no time shall the total number of securities issuable upon exercise of all outstanding
Options and the total number of shares provided for under any stock bonus or similar plan or agreement of the Company exceed the applicable percentage as calculated in accordance with the conditions and exclusions of §260.140.45 of the
California Code of Regulations, based on the securities of the Company which are outstanding at the time the calculation is made. 
 (b)
Information to Participants. Participants will receive financial statements of the Company at least annually as required by Rule §260.140.45 of the California Code of Regulations. 

(c) Final and Binding. The terms of the Plan and of any Award, and all actions and interpretations of the Committee made pursuant to
the Plan, shall be final, binding and conclusive on all persons having or claiming any interest under the Plan or an Award, including but not limited to Participants and their spouses and domestic partners, and the respective Permitted Transferees,
executors, administrators, heirs, personal representatives and successors of the foregoing.

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