Document:

Stock Appreciation Right Grant

 Exhibit 10.12A 
 STOCK APPRECIATION RIGHT GRANT 
 This Stock
Appreciation Right (“SAR”) is granted on August 21, 2012 (the “Grant Date”), by First PacTrust Bancorp, Inc., a Maryland corporation (the “Company”), to Steven Sugarman (the “Grantee”), in accordance with
the following terms and conditions: 
 1. SAR Grant and Exercise Period. In recognition of prior services
provided by the Grantee to the Company, the Company hereby grants to the Grantee a SAR with respect to an aggregate of 500,000 shares (the “SAR Shares”) of the common stock of the Company (“Common Stock”) at a base price equal to
$12.12 per share (the “Base Price”), subject to adjustment in accordance with Section 6(b) below. The number of SAR Shares shall be subject to adjustment in accordance with Section 6 below. The SAR shall be settled upon exercise
in cash. 
 This SAR shall be exercisable only during the period (the “Exercise Period”) commencing on (i) the
date that is six months and a day following the Grant Date with respect to the first tranche set forth in Section 2 below and (ii) the dates set forth in Section 2 below for the remaining tranches, and ending at 5:00 p.m., Irvine,
California time, on the date 10 years after the Grant Date, such later time and date being hereinafter referred to as the “Expiration Date,” subject to earlier vesting and earlier expiration in the event of a Termination of Service, as and
to the extent provided in Section 4. 
 2. Exercise and Settlement of the SAR. The SAR may be
exercised during the Exercise Period, with respect to not more than the cumulative number of SAR Shares set forth below, by giving written notice to the Company as hereinafter provided specifying the number of SAR Shares with respect to which the
SAR is being exercised. 
  

			
	 Cumulative Number of SAR Shares Vested
	  	Date
		
	 166,666
	  	Grant Date
	 166,667
	  	August 21, 2013
	 166,667
	  	August 21, 2014

 The notice of exercise of all or a portion of this SAR shall be in the form prescribed by the Compensation
Committee of the Board of Directors of the Company (or such other committee as may be designated by the Board of Directors of the Company) (the “Committee”) and directed to the address set forth in Section 8 below. The date of
exercise is the date on which such notice is received by the Company. The SAR represents the right, following exercise, to receive a payment in cash equal to the excess, if any, of the Fair Market Value (as defined in Company’s 2011 Omnibus
Plan (the “Plan”)) of one such share of Common Stock on such exercise date over the Base Price, multiplied by the number of SAR Shares with respect to which the SAR is being exercised. The Company will retain from each distribution the
amount of cash required to satisfy tax withholding obligations consistent with Article 16 of the Plan and Section 9 of this Agreement. 
 3. Nontransferability of this SAR. This SAR may not be assigned, encumbered, transferred, pledged or hypothecated except, (i) in the event of the death of the Grantee, by will or the
applicable laws of descent and distribution or pursuant to a beneficiary designation as described below, or (ii) pursuant to a “domestic relations order,” as defined in Section 414(p)(1)(B)

 
of the Internal Revenue Code of 1986, as amended (the “Code”), or (iii) in a gift to any member of the Grantee’s immediate family or to a trust for the benefit of one or more
of such immediate family members. During the lifetime of the Grantee, this SAR shall be exercisable only by the Grantee or a person acting with the legal authority of the Grantee unless it has been transferred as permitted hereby, in which case it
shall be exercisable only by such transferee. For the purpose of this Section 3, the Grantee’s “immediate family” shall mean the Grantee’s spouse, children and grandchildren. 

From time to time, by signing a form furnished to the Company, the Grantee may designate any legal or natural person or persons (who may
be designated contingently or successively) to whom to transfer the unexercised portion this SAR if the Grantee were to die prior to the Expiration Date without having exercised such unexercised portion. If the Grantee fails to designate a
beneficiary as provided above, or if the designated beneficiary dies before the Grantee or before such unexercised portion is so transferred, such unexercised portion shall be transferred to the Grantee’s estate. For purposes of this SAR, the
term “designated beneficiary” means the person or persons designated by Grantee as Grantee’s beneficiary in the last effective beneficiary designation form filed with the Company. The provisions of this SAR shall be binding upon,
inure to the benefit of and be enforceable by the parties hereto, the successors and assigns of the Company and any person acting with the legal authority of the Grantee or to whom this SAR is transferred in accordance with this Section 3.

 4. Termination of Service of the Grantee. 

(a) Upon a termination of the Grantee’s service other than (i) by the Company for Cause (as defined in the
Employment Agreement by and between the Company and the Grantee, dated as of August 21, 2012 (the “Employment Agreement”)) or (b) by the Grantee without Good Reason (as defined in the Employment Agreement), the unvested portion
of the SAR shall immediately vest in full and, along with the previously vested portion of the SAR, if any, shall remain exercisable for the duration of the term. For the avoidance of doubt, in the event that Grantee’s employment with the
Company terminates but the Grantee continues to serve on the Company’s Board of Directors, the Grantee’s employment shall be deemed to have continued for the purposes of the vesting of the unvested portion of the SAR and if the
Grantee’s service on the Board of Directors terminates as a result of action by the Company (including by virtue of the Company’s failure to nominate the Grantee for re-election to the Board of Directors), other than a termination for
Cause, or a failure of the Company’s shareholders to re-elect the Grantee, each such termination shall be treated as a termination without Cause. 
 (b) Upon a termination of the Grantee’s employment by the Grantee without Good Reason or a termination of the Grantee’s employment by the Company for Cause, the unvested portion of the SAR shall
be forfeited and the vested portion of the SAR shall remain exercisable for the 90-day period immediately following such termination of employment. 
 5. Change of Control. In the event of a Change of Control (as defined on Exhibit A to this Agreement), the SAR shall become immediately exercisable and, to the extent the SAR is assumed in
the applicable transaction, the SAR shall remain exercisable for the duration of the term. 

  
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 6. Adjustments for Certain Changes in Capitalization of the Company;
Dividend Equivalent Rights. 
 (c) In the event of any increase in the outstanding shares of Common Stock
(for the avoidance of doubt, whether voting or nonvoting) after the Grant Date by reason of any issuance of Common Stock not covered by Sections 6(b) (other than those issuances described in the last sentence of this Section 6(a)) (an
“Issuance”), the Grantee shall be granted an additional SAR upon consummation of such Issuance with a base price equal to the then-current Fair Market Value of Common Stock (an “Additional SAR”) such that (1) when taking
into account such Additional SAR, the percentage of the unexercised (whether vested or unvested) SAR Shares in respect of the initial SAR granted pursuant to this Agreement, such Additional SAR and any other Additional SARs previously granted under
this Section 6(a), in each case as of the date of such issuance, relative to the total number of outstanding shares of Common Stock immediately following such Issuance is equal to (2) the percentage of the unexercised (whether vested or
unvested) SAR Shares in respect of the initial SAR granted pursuant to this Agreement and any other Additional SARs previously granted under this Section 6(a), in each case as of the date of such issuance, relative to the total number of
outstanding shares of Common Stock immediately prior to such Issuance. The Additional SAR granted following an Issuance pursuant to this Section 6(a) shall have the same terms and conditions as the initial SAR granted pursuant to this
Agreement, however, the vesting and term shall take into account the Grantee’s service between the Grant Date and the date the Additional SAR is granted. For example, if an Issuance occurs and an Additional SAR is granted 18 months following
the Grant Date, two-thirds (2/3) of such Additional SAR shall be vested and exercisable and the Additional SAR shall have 102 months remaining on its term. For the avoidance of doubt, no Additional SARs shall be granted under this
Section 6 in the event that there is an increase in the number of outstanding shares of Common Stock solely due to the issuance of Common Stock as or in settlement of equity awards to employees, directors or independent contractors of the
Company or its Affiliates for compensatory purposes, including upon the granting of restricted stock, the settlement of restricted stock units or the exercise of stock options. 

(d) The Base Price and the number of SAR Shares as to which the SAR may be exercised (for the avoidance of doubt,
including with respect to unvested SAR Shares) are subject to adjustment from time to time upon occurrence of the events set forth in this Section 6(b). 
 (i) If after the Grant Date the number of outstanding shares of Common Stock (for the avoidance of doubt, whether voting or nonvoting) is increased by a stock dividend payable in shares of Common Stock,
or by a split-up of shares of Common Stock, or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the SAR Shares as to which the SAR may be exercised shall be increased in proportion to such increase
in outstanding shares of Common Stock. 
 (ii) If after the Grant Date the number of outstanding shares of Common Stock (for
the avoidance of doubt, whether voting or nonvoting) is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock, or other similar event, then, on the effective date of such consolidation,
combination, reverse stock split or reclassification of 

  
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shares of Common Stock, or other similar event, the SAR Shares as to which the SAR may be exercised shall be decreased in proportion to such increase in outstanding shares of Common Stock.

 (iii) If after the Grant Date the Company distributes to holders of its Common Stock any of its assets (other than cash,
which is covered by Section 6(c) below) or debt securities or any rights, options or warrants to purchase debt securities, assets or other securities of the Company (other than Common Stock), the Base Price shall be adjusted in accordance with
the following formula: 
  

			
		  	P’ = P ÷ (M/(M-F))
		
	where:	  	
		
		  	P’ = the Base Price immediately following the adjustment to the Base Price pursuant to this Section 6(b)(iii).
		
		  	P = the Base Price immediately preceding the adjustment to the Base Price pursuant to this Section 6(b)(iii).
		
		  	M = the Last Reported Sales Price (as defined herein) per share of Common Stock on the business day immediately preceding the Announcement Date.
		
		  	F = the fair market value (as determined in good faith by the Board of Directors (or the Compensation Committee thereof) and evidenced by resolutions) on the Announcement Date for
such distribution of the assets, securities, options, rights or warrants distributable to one share of Common Stock after taking into account, in the case of any rights, options or warrants, the consideration required to be paid upon exercise
thereof.
		
		  	 “Announcement Date” shall mean the day on which a distribution covered by this Section 6(b)(iii) is announced to the general
public.
  
 “Last Reported Sales Price” of Common Stock on any
particular date means:
  
 (1) if the Common Stock is listed or admitted for
trading on a national securities exchange, the last reported sales price reported on the date in question in the composite transactions for the exchange on which the Common Stock is so listed or admitted;

 
 (2) if (1) does not apply and the Common Stock is traded on the OTC Bulletin Board,
the last quoted bid price as of the date in question in the over-the-counter market as reported by the OTC Bulletin Board;
  
 (3) if (1) and (2) do not apply and the Common Stock is quoted in the over-the-counter market as reported in the “pink sheets”, the last quoted bid price as of the date in question;
or
  
 (4) if (1), (2) and (3) do not apply and the Last Reported Sales Price
cannot be calculated on a particular date on any of the foregoing bases, the Last Reported Sales price shall be determined by the Board of Directors or the Committee and evidenced by resolutions thereof.

 The adjustment shall be made successively whenever any such distribution is made and shall become
effective immediately prior to the ex-dividend date for such distribution. This subsection (iii) does not apply to any dividends or distributions made in connection with, or as part of any of

  
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the actions contemplated by subsections (i), (ii) or (iv) of this Section 6(b) or Section 6(c) below. If any adjustment is made pursuant to this subsection (iii) as a
result of the issuance of rights, options or warrants and at the end of the period during which any such rights, options or warrants are exercisable, not all such rights, options or warrants shall have been exercised, the SAR shall be immediately
readjusted as if “F” in the above formula was the fair market value (as determined in good faith by the Board of Directors or the Committee and evidenced by resolutions thereof) on the dividend date for such distribution of the
indebtedness or assets actually distributed upon exercise of such rights, options or warrants divided by the number of shares of Common Stock outstanding on the dividend date for such distribution. 

(iv) Subject in all cases to Section 5, in the event that the Company shall reorganize its capital, reclassify its capital stock,
consolidate or merge with or into another corporation (where the Company is not the surviving corporation or where there is any change whatsoever in, or distribution with respect to, the outstanding Common Stock (for the avoidance of doubt, whether
voting or nonvoting)), or sell, transfer or otherwise dispose of all or substantially all of its property, assets or business to another corporation and, pursuant to the terms of such reorganization, reclassification, merger, consolidation or
disposition of assets, (1) shares of common stock of the successor or acquiring corporation or of the Company (if it is the surviving corporation) or (2) any cash, shares of stock or other securities, assets, property or indebtedness of
any nature whatsoever (including warrants or other subscription or purchase rights) in addition to or in lieu of common stock of the successor or acquiring corporation (“Other Property”) are to be received by or distributed to the
holders of Common Stock who are holders immediately prior to such transaction, then the Grantee shall have the right thereafter to receive, upon exercise of the SAR the number of shares of common stock of the successor or acquiring corporation or of
the Company, if it is the surviving corporation, and Other Property receivable upon or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a holder of the number of notional shares of Common Stock
covered by the SAR immediately prior to such event (for the avoidance of doubt, (x) including with respect to SAR Shares that are not yet vested pursuant to the terms hereof, and (y) only taking into account the difference between the Fair
Market Value and the Base Price). In the event of receipt of shares of common stock of the successor or acquiring corporation or of the Company and Other Property, the aggregate Base Price otherwise payable for the shares of Common Stock issuable
upon exercise of the SAR shall be allocated among the shares of common stock and Other Property receivable as a result of such reorganization, reclassification, merger, consolidation or disposition of assets in proportion to the respective fair
market values of such shares of common stock and Other Property as determined in good faith by the Board of Directors or the Committee and evidenced by resolutions thereof. In case of any such reorganization, reclassification, merger, consolidation
or disposition of assets, the successor or acquiring corporation (if other than the Company) shall expressly assume the due and punctual observance and performance of each and every covenant and condition of the SAR to be performed and observed by
the Company and all the obligations and liabilities hereunder, subject to such modifications as may be reasonably deemed appropriate (as determined in good faith by the Board of Directors or the Committee and evidenced by resolutions thereof) in
order to provide for adjustments of any shares of the common stock of such successor or acquiring corporation to which the SAR then relates, with modifications which shall be as equivalent as practicable to the adjustments provided for in this
Section 6. For purposes of this Section 6(b)(iv), “common stock of the successor or acquiring corporation” shall include stock of such corporation of any class that is not preferred as to dividends or assets over any other class
of stock of such corporation and that is not subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities that are convertible into 

  
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or exchangeable for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or other rights to subscribe for or purchase
any such stock. The foregoing provisions of this Section 6(b)(iv) shall similarly apply to successive reorganizations, reclassification, mergers, consolidations or disposition of assets and shall apply to any securities to be received as a
result of the foregoing. 
 (v) Whenever the number of SAR Shares is adjusted, as provided in this Section 6(b), the Base
Price shall be adjusted (rounded up to the next whole cent) by multiplying such Base Price immediately prior to such adjustment by a fraction (1) the numerator of which shall be the number of SAR Shares with respect to which the SAR is
exercisable upon the exercise of the SAR immediately prior to such adjustment (for the avoidance of doubt, including with respect to SAR Shares that are not yet vested pursuant to the terms hereof), and (ii) the denominator of which shall be
the number of SAR Shares with respect to which the SAR is exercisable upon the exercise of the SAR immediately after such adjustment (for the avoidance of doubt, including with respect to SAR Shares that are not yet vested pursuant to the terms
hereof). 
 (e) To the extent that the Company makes any dividend distribution to the holders of its Common
Stock: (i) that is payable in cash; (ii) that constitutes a distribution of the retained earnings of the Company (as determined in good faith by the Company’s Board of Directors in accordance with generally accepted accounting
principles); and (iii) for which the record date (the “Record Date”) is after the Grant Date and prior to the earlier of (A) the date on which Grantee has exercised all of the SAR Shares granted hereunder, or (B) the date on
which the SAR expires hereunder, then: (1) on the date of any such dividend distribution, the Company shall make a cash payment to Grantee, with respect to each SAR Share that has vested on or prior to such Record Date and has not been
exercised on or prior to such Record Date, in an amount equal to the product of the amount of the dividend distribution made by the Company with respect to each share of its Common Stock (the “Per Share Dividend Amount”) multiplied by the
number of such vested and unexercised SAR Shares; and (2) with respect to any SAR Shares that have not vested as of such Record Date, the Company shall credit to a dividend accrual account an amount (the “Accrued Dividend Amount”)
equal to the product of the Per Share Dividend Amount multiplied by the number of such unvested SAR Shares, and the Accrued Dividend Amount with respect to any such unvested SAR Shares will be distributed to Grantee on the date on which the related
SAR Shares vest. In the event that any unvested SAR Shares are forfeited in accordance with Section 4 of this Agreement, any unpaid Accrued Dividend Amount would be immediately forfeited. 

(f) If the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a
dividend or distribution or subscription or purchase rights and shall, thereafter and before the distribution to shareholders thereof, legally abandon its plan to pay or deliver such dividend, distribution, subscription or purchase rights, then
thereafter no adjustment under this Section 6 shall be required by reason of the taking of such record and any such adjustment previously made in respect thereof shall be rescinded and annulled. 

(g) Notwithstanding the foregoing provisions of this Section 6, the Board of Directors of the Company or the
Committee shall make such equitable and appropriate adjustments to the foregoing provisions of this Section 6 that it shall determine in good faith (and evidenced by resolutions thereof) are necessary to ensure that the adjustments to the SAR
made pursuant 

  
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to this Section 6 shall be made in such a manner so as to ensure that after such adjustments the SAR continues to be exempt from Section 409A of the Code. 

7. Stockholder Rights Not Granted by This SAR. The Grantee is not entitled by virtue hereof to any rights of a
stockholder of the Company or to notice of meetings of stockholders or to notice of any other proceedings of the Company. 
 8. Notices. All notices hereunder to the Company shall be delivered or mailed to it addressed to the Secretary of First PacTrust Bancorp, Inc., 18500 Von Karman Ave, Suite 1100, Irvine, California
92612. Any notices hereunder to the Grantee shall be delivered personally or mailed to the Grantee’s address noted below. Such addresses for the service of notices may be changed at any time provided written notice of the change is furnished in
advance to the Company or to the Grantee, as the case may be. 
 9. Withholding Tax. Where the Grantee or
another person is entitled to receive a cash payment pursuant to the exercise of this SAR or an Additional SAR, the Company shall have the right to require the Grantee or such other person to pay to the Company the amount of any taxes which the
Company or any of its affiliates is required to withhold with respect to the exercise of such SAR Shares, or in lieu thereof, to retain a sufficient amount of cash to cover the amount required to be withheld. 

10. Grantee Service. Nothing in this Agreement shall limit the right of the Company or any of its affiliates to
terminate the Grantee’s service as a director, advisory director, or employee, or otherwise impose upon the Company or any of its affiliates any obligation to employ or accept the services of the Grantee. 

11. Amendment. The Committee may waive any conditions of or rights of the Company or modify or amend the terms of
this Award Agreement; provided, however, that the Committee may not amend, alter, suspend, discontinue or terminate any provision hereof which could reasonably be expected to adversely affect the Grantee without the Grantee’s (or his legal
representative’s) written consent. 
 12. Grantee Acceptance. The Grantee shall signify his
acceptance of the terms and conditions of this SAR by signing in the space provided below and returning a signed copy hereof to the Company at the address set forth in Section 8 above. 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Award Agreement to be executed as of
the date first above written. 
  

			
	FIRST PACTRUST BANCORP, INC.
		
	By:	 	 /s/ Timothy R. Chrisman

	
	ACCEPTED:
	
	 /s/ Steven Sugarman

	Steven Sugarman

  
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 Exhibit A 

DEFINITION OF CHANGE OF CONTROL 
 For the purposes of this Agreement “Change of Control” means: 
 (i) Any
individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) becomes the beneficial owner (within the meaning of Rule
13d-3 promulgated under the Exchange Act) of 30% or more of either (a) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (b) the combined voting power of the then-outstanding
voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this Section 1(d), the following
acquisitions shall not constitute a Change of Control: (w) any acquisition directly from the Company, (x) any acquisition by the Company, (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by
the Company or any Affiliated Company or (z) any acquisition pursuant to a transaction that complies with clauses (iii)(a), (iii)(b) and (iii)(c) below; 
 (ii) Individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however,
that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent
Board shall be considered as though such individual was a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with
respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; 
 (iii) Consummation of a reorganization, merger, statutory share exchange or consolidation or similar transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or
substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination,
(a) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own,
directly or indirectly, more than 50% of the then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then-outstanding voting securities entitled to vote generally in the
election of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the
Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company
Common Stock and the Outstanding Company Voting Securities, as the case may be, (b) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation
resulting from such Business Combination) beneficially owns, directly or indirectly, 30% or more of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination

  
 C-1

 
or the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to the Business Combination, and (c) at
least a majority of the members of the board of directors (or, for a non-corporate entity, equivalent governing body) of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the
initial agreement or of the action of the Board providing for such Business Combination; or 
 (iv) Approval by the stockholders
of the Company of a complete liquidation or dissolution of the Company. 

  
 C-2Employment Agreement

 Exhibit 10.13 
 Execution Copy 
 EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is made effective as of September 25, 2012 (the “Effective Date”),
by and among First PacTrust Bancorp, Inc., Pacific Trust Bank, FSB, a federally-chartered savings bank, and Beach Business Bank, a California chartered bank (collectively the “Employer”), and Robert M. Franko (the “Employee”).

 WITNESSETH: 
 WHEREAS, Pacific Trust Bank (“PacTrust”) is a wholly-owned subsidiary of First PacTrust Bancorp, Inc., a Maryland corporation (“Bancorp”); 

WHEREAS, Employee currently serves as the President of Bancorp; 
 WHEREAS, Employer is a party to that certain Executive Employment Agreement, dated June 1, 2003 (the “Beach Agreement”), with Beach Business Bank, a California chartered bank and the
wholly-owned subsidiary of Bancorp (“Beach”); 
 WHEREAS, concurrently with, and as a condition of Employer and
Employee entering into this Agreement, Employee and Beach are entering into a Mutual Termination Agreement (the “Termination Agreement”) dated as of the date hereof; 
 WHEREAS, as a result of the Termination Agreement and the effectiveness of this Agreement, all of Employee’s rights and obligations under the Beach Agreement are hereby terminated; 

WHEREAS, Employer desires to employ Employee and Employee desires to be employed by Employer upon the terms and subject to the conditions
set forth herein; 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereby
agree as follows: 
 1. Employment. Employer hereby agrees to employ Employee to serve as Chief Executive Officer of each
of PacTrust and Beach, and Employee hereby accepts employment with Employer upon the terms and conditions herein set forth. 

2. Term. The term of employment under this Agreement shall begin on September 25, 2012 (the “Commencement Date”)
and shall expire on the date that is three years from the Commencement Date (the “Term End Date”), unless terminated sooner as hereinafter provided or unless extended as provided in the next sentence. Commencing on September 25, 2015,
and on each anniversary of such date, the term of this Agreement shall automatically be extended for one additional year unless either party notifies the other party at least ninety (90) days prior to such date or anniversary date that the term
of this Agreement will not be extended. Reference herein to the term hereunder shall refer to both the initial term and any extended term hereunder. 
 3. Duties. Employee will, during the term hereof: 
  

	 	(a)	be employed by Employer on a full-time basis with all such authority, duties and responsibilities as are commensurate with his positions as Chief Executive Officer of
each of PacTrust and Beach (the “Bank Subsidiaries”) and as may be consistent with such position, reporting directly to the Boards of Directors of the Bank Subsidiaries and shall perform such other duties and responsibilities on behalf of
Bancorp and its affiliates as reasonably may be directed by the Boards of Directors of the Bank Subsidiaries; and 

  

	 	(b)	devote his full business time, energy, and skill to the business of Employer and to the promotion of Employer’s best interests, except for vacations and absences
made necessary because of illness, and such professional or industry activities which Employer shall reasonably approve as being in Employer’s interest, including Employee’s service as a member of the Board of Directors of The Independent
Bankers Bank. 

 4. Compensation. During the term of this Agreement, Employer shall pay Employee:

  

	 	(a)	on the Effective Date, a one-time signing bonus in the form of a grant under the First PacTrust Bancorp, Inc. 2011 Omnibus Incentive Plan (the “Omnibus Incentive
Plan”) of 60,000 shares of restricted voting common stock of Bancorp, which shares shall vest in annual increments of 20% commencing on the Effective Date. The terms of such grant shall be subject to the terms of the final restricted stock
agreement evidencing such grant, the form of which shall be attached hereto as Exhibit A (the “Restricted Stock Agreement”). In the event of a conflict between the Restricted Stock Agreement and this Agreement, the terms of the Restricted
Stock Agreement shall control. 

  

	 	(b)	a base salary at the rate of $375,000.00 per annum, payable in periodic payments in accordance with Employer’s practices for other executive, managerial, and
supervisory employees (but not less frequently than monthly), as such practices may be determined from time to time and subject to customary tax withholdings. The Board of Directors (the “Board”) of Bancorp or the Compensation Committee of
the Board of Directors of Bancorp (the “Committee”) will review such base salary at least annually and, in their discretion, may increase such salary. 

 

	 	(c)	additional or special compensation, such as equity awards, incentive pay or bonuses, based upon Employee’s performance, commencing with Employee’s performance
in 2012, as the Board or the Committee in their discretion, may from time to time determine. Any amounts payable under this Section 4(c) that constitute “nonqualified deferred compensation” within the meaning of Section 409A (as
defined in Section 14(a) of this Agreement) shall be subject to such terms or conditions that satisfy the applicable requirements of Section 409A. 

 All such payments, and any other compensation provided by Employer to Employee, whether under this Agreement or otherwise, will be subject to such deductions and clawback (recovery) as may be required to
be made pursuant to law, government regulation, order, stock exchange listing requirement (or any policy of Employer adopted pursuant to any such law, government regulation, order or stock exchange listing requirement) or by agreement with, or
consent of, Employee. 
 5. Options.  
  

	 	(a)	General. Executive may receive grants of options from Bancorp (the “Grant”) from time to time for his services as an executive at Employer and/or any
subsidiary of Employer. Any Grant shall be subject to the terms of a final option agreement evidencing such grant, which shall be attached hereto as Exhibit B (the “Grant Agreement”). In the event of a conflict between the Grant Agreement
and this Agreement, the terms of the Grant Agreement shall control. 

  

	 	(b)	Designation of Beneficiary. From time to time, by signing a form furnished to Employer, Employee may designate any legal or natural person or persons (who may be
designated contingently or successively) to whom to transfer the Grant if he were to die before he exercised the Grant. If Employee fails to designate a beneficiary as provided above, or if the designated beneficiary dies before Employee or before
complete payment, the Grant shall be transferred to the Employee’s estate. For purposes of this Agreement, the term “designated beneficiary” means the person or persons designated by Employee as his beneficiary in the last effective
beneficiary designation form filed with Employer, or if Employee has failed to designate a beneficiary, the Employee’s estate. 

  
 2 

 6. Automobile and Other Expenses. During the term of this Agreement, Employer shall
lease and allow Employee use of, one (1) new-condition Chevy Volt automobile (the “Car”). Employee shall be solely responsible for all fuel, maintenance and other similar charges associated with the Employee’s personal
non-business use of the Car. Employee shall obtain and constantly maintain in good standing, at Employer’s expense, a comprehensive automobile liability policy in a form reasonably acceptable to Employer (the “Policy”). Employee shall
cause the insurance provider of the Policy to list Employer as an additional insured and Employee shall provide Employer with a certificate evidencing the Policy. Any damage or liability caused or associated with Employee’s use of the Car shall
be the sole responsibility of Employee. At the conclusion of the term of this Agreement or the expiration of the lease of the Car, whichever occurs first, Employee shall promptly return the Car to Employer in good condition, normal wear and tear
excepted. Employee shall be reimbursed for other expenses incurred in connection with Employer’s business in accordance with Employer’s expense reimbursement policy for senior executives. 

7. Benefits. Employee shall be entitled to participate in such vacation, life insurance, medical, dental, pension, supplemental
disability, retirement plans and other programs as may be approved from time to time by Employer for the benefit of its executive employees. 
 8. Vacation. Employee shall be entitled to the greater of the accrual of 1.67 days of vacation for each month of service or such other accruals as outlined in Employer’s human resource
policies. In the event that the full vacation for any calendar year is not taken by Employee, Employee’s ongoing accrual of vacation will be limited by the maximum level of carryover accrued vacation allowed for in Employer’s then existing
policy for the carry forward of accrued vacation. 
 9. Termination. 

 

	 	(a)	Employee’s employment with Employer shall be terminated (i) by reason of Employee’s death or (ii) by reason of Employee’s becoming permanently
disabled for purposes of Employer’s long-term disability program. 

  

	 	(b)	Employer may terminate Employee’s employment hereunder for any reason, with or without Cause, at any time upon notice to Employee. 

 

	 	(c)	Employee may terminate his employment hereunder without Good Reason at any time upon forty-five (45) days’ prior written notice to Employer. In the event of
termination of Employee’s employment pursuant to this Section 9(c), Employer may elect to waive the period of notice, or any portion thereof, and, if Employer so elects, Employer will pay Employee his base salary for the period so waived.

  

	 	(d)	Employee may terminate his employment for Good Reason within ninety (90) days following the occurrence of any condition constituting Good Reason (as defined
below), provided that Employee has first provided notice to Employer specifying in reasonable detail the condition giving rise to the Good Reason, Employee has provided Employer with a period of thirty (30) days to remedy the condition (and the
notice so specifies), and Employer has failed to remedy the condition within this thirty (30) day period. 

  

	 	(e)	Employer and Employee may also terminate Employee’s employment with Employer by issuing a notice to the other pursuant to Section 2 hereof.

  
 3 

 10. Severance Benefits. 

 

	 	(a)	In the event of the termination of Employee’s employment, for any reason, Employee shall be entitled to any Accrued Obligations (as defined herein).

  

	 	(b)	In the event that Employer terminates Employee’s employment without Cause or Employee resigns with Good Reason, subject to Sections 10(e)-(i) and
Section 14, (i) Employee shall be entitled to severance pay equal to One Million Dollars ($1,000,000.00), (ii) the Grant (if Employee has received one), to the extent not theretofore fully vested, shall become fully vested and
immediately exercisable in accordance with its terms and (iii) in the event the Employee is not theretofore fully vested in the restricted shares provided under Section 4(a) as a signing bonus, the Employee shall be entitled to be
appointed as an advisor of Employer and shall be permitted to continue serving in that capacity until all such restricted shares have vested in full. 

  

	 	(c)	 Subject to Section 14, any severance pay to be paid pursuant to Section 10(b) shall be paid in thirty-two (32) equal monthly
installments of Thirty-One Thousand Two Hundred Fifty Dollars ($31,250) commencing on the first business day coincident with or next following the sixtieth (60th) calendar date following Employee’s termination of employment. 

 

	 	(d)	In the event of Employee’s death within 32 months of termination for any reason, all remaining eligible benefits under this section shall be paid to
Employee’s designated beneficiary as noted in Section 5(b) of this Agreement. 

  

	 	(e)	Any severance pay to be paid pursuant to Section 10(b) is subject to and conditioned upon Employee signing and delivering (and not revoking) to Employer a general
release and waiver (in a form reasonably acceptable to Employer), waiving all claims the Employee may have against Employer, its parents, subsidiaries, successors, assigns, affiliates, and their respective executives, officers and directors relating
to Employee’s employment with Employer. 

  

	 	(f)	The payment of the severance pay under Section 10(b) is conditioned upon the Employee’s compliance with the non-solicitation and nondisclosure requirements
set forth in Sections 11 and 12 hereof. 

  

	 	(g)	Notwithstanding any other provision of this Agreement to the contrary, if payments under this Agreement, together with any other payments received or to be received by
Employee in connection with a “change in control” (for purposes of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”)) would cause any amount to be nondeductible for federal income tax purposes
pursuant to Section 280G of the Code, then benefits under this Agreement shall be reduced (but not less than zero) to the extent necessary so as to maximize payments to Employee without causing any amount to become nondeductible. Employee shall
determine the allocation of such reduction among payments to Employee. 

  

	 	(h)	Notwithstanding any other provision of this Agreement to the contrary, any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and
conditioned upon their compliance with 12 U.S.C. § 1828(k) and any regulations promulgated thereunder, including 12 C.F.R. Part 359. 

  
 4 

	 	(i)	For purposes of this Agreement: 

  

	 	(A)	“Accrued Obligations” means (i) any base salary that Employee has earned but not been paid during or prior to the Employee’s termination of
employment, (ii) pay for any vacation time earned but not used through the date of termination, subject to Section 8 of this Agreement, (iii) any business expenses that are reimbursable under Section 6 that were incurred by
Employee as of the Employee’s termination of employment but have not been reimbursed on the date of termination, subject to the submission of any required substantiation and documentation, and (iv) any payments or benefits to which
Employee or his beneficiary or estate is entitled under the terms of any applicable employee benefit plan. 

  

	 	(B)	Termination for “Cause” shall mean termination of the employment of Employee because of Employee’s personal dishonesty, incompetence, willful
misconduct, breach of a fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or
material breach of any provision of this Agreement. Employee shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to Employee a copy of a resolution, duly adopted by the affirmative vote of not less
than a majority of the entire membership of the Board of Directors of Bancorp at a meeting or meetings of the Board called and held for such purpose (after reasonable notice to Employee and an opportunity for Employee, together with Employee’s
counsel, to be heard before the Board), stating that in the good faith opinion of the Board, Employee has engaged in conduct described in the preceding sentence and specifying the particulars thereof in detail. For purposes of this section, the term
“incompetence” shall mean inability, as determined by the Board of Directors of Employer in their reasonable judgment, to perform stated duties. 

  

	 	(C)	“Good Reason” shall exist if, without Employee’s express written consent, Employer shall: 

 

	 	(1)	assign to Employee duties that are materially inconsistent with that of his position as Chief Executive Officer of the Bank Subsidiaries (including status, offices,
title(s) and reporting requirements), or the authority, duties or responsibilities thereof, including professional obligations, or any other action by Employer which results in a material diminution in such position, authority, duties or
responsibilities, provided that, Good Reason shall not exist as long as Employee holds the office of President of Bancorp or Chief Executive Officer of either of the Bank Subsidiaries; 

 

	 	(2)	unless required by regulatory authorities, reduce the salary of Employee, or materially reduce the amount of paid vacations to which he is entitled;

  

	 	(3)	materially breach this Agreement; or 

  

	 	(4)	require Employee to relocate his principal business office outside of the Los Angeles-Orange County metropolitan area or such other area as may be mutually agreeable
between Employee and Employer; or assign to Employee duties that would reasonably require such relocation. 

  
 5 

 11. Nonsolicitation. 

 

	 	(a)	Unless otherwise agreed in writing, during the term of this Agreement, and for a period of thirty-two (32) months following a termination of Employee’s
employment with Employer entitling Employee to severance pay under Section 10(b), Employee shall not induce or attempt to induce any individual or entity who was an employee, agent or independent contractor of Employer or any of its affiliates
during the period of Employee’s employment hereunder to discontinue providing services to Employer or any of its affiliates. 

  

	 	(b)	Unless otherwise agreed in writing, during the term of this Agreement, and for a period of thirty-two (32) months following a termination of Employee’s
employment with Employer entitling Employee to severance pay under Section 10(b), Employee shall not, and will not assist any other person to (a) hire or solicit for hiring any employee of Employer or any of its affiliates or seek to
persuade any employee of Employer or any of its affiliates to discontinue employment or (b) solicit or encourage any independent contractor providing services to Employer or any of its affiliates to terminate or diminish its relationship with
them. 

 12. Nondisclosure of Confidential Information. Employee acknowledges that Employer and its
affiliates may disclose confidential information to Employee during the term of this Agreement to enable him to perform his duties hereunder. Employee hereby covenants and agrees that, except as required by law, regulatory directive or judicial
order, he will not, without the prior written consent of Employer, during the term of this Agreement or at any time thereafter, disclose or permit to be disclosed to any third party by any method whatsoever any of the confidential information of
Employer or any of its affiliates. For purposes of this Agreement, “confidential information” shall include, but not be limited to, any and all records, notes, memoranda, data, ideas, processes, methods, techniques, systems, formulas,
patents, models, devices, programs, computer software, writings, research, personnel information, customer information, financial information of Employer or any of its affiliates, plans, or any other information of whatever nature in the possession
or control of Employer which has not been published or disclosed to the general public, or which gives to Employer or any of its affiliates an opportunity to obtain an advantage over competitors who do not know of or use it. Employee further agrees
that if his employment hereunder is terminated for any reason, he will leave with Employer and will not take originals or copies of any and all records, papers, programs, computer software and documents and all matter of whatever nature containing
secret or confidential information of Employer or any of its affiliates. 
 Employee agrees promptly to reduce to writing and to
disclose and assign, and hereby does assign, to Employer, its subsidiaries, successors, assigns and nominees, all inventions, discoveries, improvements, copyrightable material, trademarks, programs, computer software and ideas concerning the same,
capable of use in connection with the business of Employer or any of its affiliates, which Employee may make or conceive, either solely or jointly with others, during the period of his employment by Employer, its subsidiaries or successors.

 Employee agrees, at Employer’s expense, that upon a request by Employer, to execute, acknowledge and deliver to Employer
all such papers, including applications for patents, applications for copyright and trademark registrations, and assignments thereof, as may be necessary, and at all times to assist Employer, its parent, subsidiaries, successors, assigns and
nominees in every proper way to patent or register said programs, computer software, ideas, inventions, discoveries, improvements, copyrightable material or trademarks in any and all countries and to vest title thereto in Employer, its parent,
subsidiaries, successors, assigns or nominees. 
 Upon a request by Employer, Employee will promptly report to Employer all
discoveries, inventions, or improvements of whatsoever nature conceived or made by him at any time he was employed by Employer, its parent, subsidiaries or successors. All such discoveries, inventions and improvements which are applicable in any way
to Employer’s business shall be the sole and exclusive property of Employer. 

  
 6 

 The covenants set forth in this Section 12 are made by Employee in consideration of the
employment, or continuing employment of, and the compensation paid to, Employee during his employment by Employer. The foregoing covenants will not prohibit Employee from disclosing confidential or other information to other employees of Employer or
to third parties to the extent that such disclosure is necessary to the performance of his duties under this Agreement. 
 Any
breach of this covenant of nondisclosure will result in the forfeiture by Employee and all other persons acting for or with Employee in any capacity whatsoever of any and all rights to severance pay under Section 10 hereof unpaid at the time of
breach and in such event Employer shall have no further obligation to pay any amounts related thereto. 
 13. Additional
Remedies. Employee recognizes that his services hereunder are of a personal, special, unique and extraordinary character and irreparable injury will result to Employer and to its business and properties in the event of any breach by Employee of
any of the provisions of Sections 11 and 12 of this Agreement or either of them, and that Employee’s continued employment is predicated on the commitments undertaken by him pursuant to said Sections. In the event of any breach of any of
Employee’s commitments pursuant to Sections 11 and 12 or either of them, Employer shall be entitled, in addition to any other remedies and damages available, to injunctive relief to restrain the violation of such commitments by Employee or by
any person or persons acting for or with Employee in any capacity whatsoever. 
 14. Section 409A. 

 

	 	(a)	Notwithstanding anything to the contrary in this Agreement, if at the time of Employee’s termination of employment, Employee is a “specified employee,”
as defined below, any and all amounts payable under Section 10 on account of such termination of employment that constitute “nonqualified deferred compensation” under Section 409A of Code and the regulations and guidance of
general applicability issued thereunder (“Section 409A”) and would (but for this provision) be payable within six (6) months following the date of termination, shall instead be paid on the next business day following the expiration of
such six (6) month period or, if earlier, upon Employee’s death, in each case, with interest from the date on which payment would otherwise have been made, calculated at the applicable federal rate provided under Section 7872(f)(2)(A)
of the Code. If Employee receives compensation under Section 10 that can in part be treated as paid under a “separation pay plan” described in Treasury Regulation Section 1.409A-1(b)(9) then, to the extent permitted under
Section 409A, the compensation shall be treated as first made from the separation pay plan. 

  

	 	(b)	For purposes of Section 10 of this Agreement, all references to “termination of employment” and correlative phrases shall be construed to require a
“separation from service” (as defined in Treasury regulation Section 1.409A-1(h) after giving effect to the presumptions contained therein), and the term “specified employee” means an individual determined by Employer to be
a specified employee under Treasury regulation Section 1.409A-1(i) in accordance with the policies of Employer. 

  

	 	(c)	Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement shall be treated as
a right to a series of separate payments. 

  
 7 

	 	(d)	Any amount that Executive is entitled to be reimbursed or to have paid on his behalf under this Agreement that would constitute nonqualified deferred compensation
subject to Section 409A shall be subject to the following additional rules: (i) no reimbursement of any such expense shall affect the Executive’s right to reimbursement of any such expense in any other taxable year;
(ii) reimbursement of the expense shall be made, if at all, promptly, but not later than the end of the calendar year following the calendar year in which the expense was incurred; and (iii) the right to reimbursement shall not be subject
to liquidation or exchange for any other benefit. 

  

	 	(e)	The parties acknowledge and agree that, to the extent applicable, this Agreement shall be interpreted in accordance with Section 409A and the Treasury regulations
and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued in the future. The parties shall cooperate in good faith and take all steps reasonably necessary and
practicable consistent with the terms of this Agreement to comply with the requirements of Section 409A in order to avoid income inclusion under Section 409A or the imposition of taxes thereunder. 

15. Reserved. 
 16. Adjustments to Comply with Final Interagency Guidance on Sound Incentive Compensation Policies. Notwithstanding anything herein to the contrary, the compensation or benefits provided under this
Agreement are subject to modification, as necessary to comply with requirements imposed by Bancorp’s Board of Directors to comply with the “Final Interagency Guidance on Sound Incentive Compensation Policies” issued on an interagency
basis by the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision, effective June 25, 2010, or any amendment , modification or supplement thereto,
which shall be deemed to include, without limitation, any rules adopted pursuant to Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 
 17. Provisions Required By Law. Notwithstanding anything herein to the contrary, any provisions that are now or are in the future required by applicable law, rule, regulation or regulatory guidance
or policy of general applicability to be included in this Agreement that are not expressly stated herein (including, without limitation, any provisions so required under 12 C.F.R. Section 163.39) shall be deemed to be a part of this Agreement
as fully as if such provisions were expressly stated herein. 
 18. No Duplication of Employer Obligations. With respect
to any payments or other compensation to be provided hereunder by Employer, the provision of such payments or other compensation by the Bank shall be deemed to reduce, to the same extent, the obligation of Bancorp to provide such payments or other
compensation, and vice versa. 
 19. Assignment; Benefit. No party shall have the right to assign this Agreement or any
rights or obligations hereunder without the consent of each of the other parties; provided, however, that Employer may assign its rights and obligations hereunder (i) to any entity controlled by, under the control of, or under common control
with, Employer (as long as such entity is no less capable of fulfilling the obligations of Employer hereunder), or (ii) to any successor to Employer upon any liquidation, dissolution or winding up of Employer, upon any merger or consolidation
of Employer or upon any sale of all or substantially all of the assets of Employer (as long as such successor is capable of fulfilling the obligations of Employer hereunder). 
 20. Waiver. Failure of any party hereto at any time to require performance by any other party of any provision of this Agreement shall in no way affect the rights of such first party to require
performance of that provision, and any waiver by any party hereto of any provision of this Agreement shall not be construed as a waiver of any continuing or succeeding breach of such provision, a waiver of the provision itself, or a waiver of any
rights under this Agreement. 

  
 8 

 21. Severability. If any clause, phrase, provision or portion of this Agreement or
the application thereof to any person or circumstance shall be invalid or unenforceable under any applicable law, such event shall not affect or render invalid or unenforceable the remainder of this Agreement and shall not affect the application of
any clause, provision, or portion hereof to other persons or circumstances. 
 22. Benefits. The provisions of this
Agreement shall inure to the benefit of Employer, its successors and assigns, and shall be binding upon Employer and Employee, its and his heirs, personal representatives and successors including without limitation Employee’s estate and the
executors, administrators, or trustees of such estate. 
 23. Relevant Law. To the extent not governed by the Federal
laws of the United States of America, this Agreement shall be construed and enforced in accordance with the laws of the State of California. Any dispute between the parties hereto not relating to the enforcement of Section 11 or Section 12
hereof shall be settled by arbitration in California in accordance with the then applicable rules of the American Arbitration Association and judgment upon the award rendered may be entered in any court having jurisdiction thereof. 

24. Notices. All notices, requests, demands and other communications in connection with this Agreement shall be made in writing
and shall be deemed to have been given when delivered by hand or two of Employer’s business days after mailing at any general or branch United States Post Office, by registered or certified mail postage prepaid, addressed as follows, or to such
other address as shall have been designated in writing by the addressee: 
 If to Employer: 

First PacTrust Bancorp, Inc. 
 18500 Von Karman, Suite 1100 
 Irvine, California 92612 

Attention: Chief Executive Officer 
 If to Employee: 
 Robert M. Franko 

c/o Pacific Trust Bank 
 18500 Von Karman, Suite 1100 
 Irvine, California 92612 

25. Entire Agreement. This Agreement sets forth the entire understanding of the parties and supersedes all prior agreements,
arrangements, and communications, whether oral or written, pertaining to the subject matter hereof, and this Agreement shall not be modified or amended except by written agreement of Employer and Employee. 

26. Captions. The headings and captions hereof are for convenience only and shall not affect the construction of this Agreement.

 27. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original
and all of which shall constitute but one and the same Agreement, which shall be sufficiently evidenced for all purposes by any one executed counterpart. 

  
 9 

 28. Construction. Employer and the Employee acknowledge that this Agreement was the
result of arms-length negotiations between sophisticated parties each represented by legal counsel. Each and every provision of this Agreement shall be construed as though both parties participated equally in the drafting of same, and any rule of
construction that a document shall be construed against the drafting party shall not be applicable to this Agreement. 
 29.
Survival. The obligations contained in this Agreement shall survive the termination of Employee’s employment with Employer or expiration of this Agreement as necessary to carry out the intentions of the parties as described herein.

 [SIGNATURE PAGE FOLLOWS] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first set
forth above. 
  

			
	Employer
	
	First PacTrust Bancorp, Inc.
		
	By:	 	 /s/ Steven Sugarman

		 	Name:
		 	Title: Chief Executive Officer
	
	Pacific Trust Bank, FSB
		
	By:	 	 /s/ Steven Sugarman

		 	Name:
		 	Title: Director
	
	Beach Business Bank
		
	By:	 	 /s/ Steven Sugarman

		 	Name:
		 	Title: Director
	
	Employee
	
	 /s/ Robert M. Franko

	Robert M. Franko

  
 11 

 EXHIBIT A 
 FORM OF RESTRICTED STOCK AGREEMENT 
 FIRST PACTRUST BANCORP, INC.

 2011 OMNIBUS INCENTIVE PLAN 
 RESTRICTED STOCK AGREEMENT 
 RS No.         

 Shares of Restricted Stock are hereby awarded on September 25, 2012 by First PacTrust Bancorp, Inc., a Maryland
corporation (the “Corporation”), to Robert M. Franko (the “Grantee”) in accordance with the following terms and conditions: 
 1. Share Award. In accordance with Section 4(a) of the Employment Agreement by and among the Corporation, Pacific Trust Bank, Beach Business Bank and the Grantee dated as of the date hereof
(the “Employment Agreement”), the Corporation hereby awards to the Grantee 60,000 shares (the “Shares”) of the voting common stock of the Corporation (“Common Stock”) pursuant to the First PacTrust Bancorp, Inc. 2011
Omnibus Incentive Plan, as the same may be amended from time to time (the “Plan”), and upon the terms and conditions and subject to the restrictions in the Plan and as hereinafter set forth. A copy of the Plan, as currently in effect, is
incorporated herein by reference and is attached hereto. Capitalized terms used herein which are not defined in this Agreement shall have the meaning ascribed to such terms in the Plan. 

2. Restrictions on Transfer and Restricted Period. Except as otherwise provided in Section 3 or Section 8 of this
Agreement, during the period (the “Restricted Period”) commencing on the date of this Agreement and terminating on September 25, 2017, Shares with respect to which the Restricted Period has not lapsed may not be sold, transferred,
pledged, assigned or otherwise alienated or hypothecated by the Grantee. Shares with respect to which the Restricted Period has lapsed shall sometimes be referred to herein as “Vested.” 

Except as otherwise provided in Section 3 or Section 8 of this Agreement and subject to Section 10(b) of the Employment
Agreement, provided that the Grantee is then serving as a Director or an Employee of the Corporation or any Subsidiary, Shares shall become Vested in accordance with the following schedule: 

 

					
	 Date of Vesting
	  	Number of Shares Vested	 
		
	 September 25, 2012
	  	 	12,000	  
	 September 25, 2013
	  	 	12,000	  
	 September 25, 2014
	  	 	12,000	  
	 September 25, 2015
	  	 	12,000	  
	 September 25, 2016
	  	 	12,000	  

 3. Termination of Service. Upon the termination of the Grantee’s service, the Shares shall
become forfeited or Vested, as the case may be, as and to the extent provided in Sections 8.9 and 8.10 of the Plan, subject to Section 10(b) of the Employment Agreement, if applicable under the circumstances of the termination of the
Grantee’s service. 

  
 12 

 4. Issuance of the Shares. Promptly after the date of this Agreement, the Corporation
shall recognize the Grantee’s ownership of the Shares through (i) a crediting of the Shares to a book entry account maintained by the Corporation (or its transfer agent or other designee) for the benefit of the Grantee, with appropriate
electronic notation of the restrictions on transfer provided herein, or another similar method, or (ii) the issuance of a certificate representing the Shares in the name of the Grantee, bearing any legend that the Corporation deems appropriate
to reflect the restrictions on transfer provided herein, to be held in custody by the Corporation or its designee for the benefit of the Grantee until the Shares represented thereby become Vested. 

The Grantee agrees that simultaneously with the execution of this Agreement, the Grantee shall execute the stock power attached hereto
and that the Grantee shall promptly deliver such stock power to the Corporation. The Grantee further agrees to execute and deliver any and all additional stock powers and/or other instruments as the Corporation from time to time requests as it may,
in its judgment, deem to be advisable to fulfill the purposes of this Agreement. 
 5. Grantee’s Rights. Subject to
all limitations provided in this Agreement, the Grantee, as owner of the Shares during the Restricted Period, shall have all the rights of a stockholder, including, but not limited to, the right to receive all dividends and other distributions paid
on the Shares and the right to vote such Shares. If any such dividends or distributions are paid in shares of Common Stock, such shares of Common Stock shall be subject to the same restrictions then applicable to the Shares with respect to which
they were paid. 
 6. Vesting. Upon Shares becoming Vested, the Corporation shall release such Shares to the Grantee
(i) by appropriate transfer to an unrestricted book entry account maintained by the Corporation (or its transfer agent or other designee) for the benefit of the Grantee (or, if the Grantee is deceased, to the Grantee’s legal
representative) or by other appropriate electronic notation of the lapse or expiration of the Restricted Period with respect to such Shares, (ii) by delivering to the Grantee (or, if the Grantee is deceased, to the Grantee’s legal
representative) a certificate issued in respect of such Shares (without any legend contemplated by Section 4 above), or (iii) by any other means deemed appropriate by the Corporation. 

7. Adjustments for Changes in Capitalization of the Corporation. In the event of any merger, reorganization, consolidation,
recapitalization, separation, liquidation, stock dividend, split up, share combination or other change in the corporate structure of the Corporation affecting the shares of the Corporation’s Common Stock, such adjustment shall be made in the
number and class of shares subject to this Agreement as shall be determined to be appropriate and equitable by the Committee to prevent dilution or enlargement of rights, provided that the number of shares covered by this Agreement shall always be a
whole number. 
 8. Effect of Change in Control. If a Change in Control shall occur, all previously unvested Shares
shall become Vested in full. Notwithstanding the foregoing, no Shares which have previously been forfeited shall thereafter become Vested. 
 9. Delivery and Registration of Shares of Common Stock. The Corporation’s obligation to deliver the Shares hereunder shall, if the Committee so requests, be conditioned upon the receipt of a
representation as to the investment intention of the Grantee or any other person to whom such Shares are to be delivered, in such form as the Committee shall determine to be necessary or advisable to comply with the provisions of the Securities Act
of 1933, as amended (the “Securities Act”), or any other Federal, state or local securities regulation. It may be provided that any representation requirement shall become inoperative upon a registration of such shares or other action
eliminating the necessity of such representation under such Securities Act or other securities regulation. The Corporation shall not be required to deliver any shares of Common Stock hereunder prior to (i) the admission of such shares to
listing on any stock exchange or automated quotation system on which the shares of Common Stock may then be listed or quoted and (ii) the completion of such registration or other qualification of such shares under any state or Federal law, rule
or regulation, as the Committee shall determine to be necessary or advisable. 

 10. Plan and Plan Interpretations as Controlling. The Shares hereby awarded and the
terms and conditions herein set forth are subject in all respects to the terms and conditions of the Plan, which are controlling. All determinations and interpretations made in the discretion of the Committee shall be binding and conclusive upon the
Grantee or the Grantee’s legal representatives with regard to any question arising hereunder or under the Plan. 
 11.
Grantee Service. Nothing in this Agreement shall interfere with or limit in any way the right of the Corporation or any Subsidiary to terminate the Grantee’s employment or service at any time, nor confer upon the Grantee any right to
continue in the employ or service of the Corporation or any Subsidiary. 
 12. Withholding Tax. Upon Shares becoming
Vested (or at any such earlier time, if any, that an election is made by the Grantee under Section 83(b) of the Code, or any successor provision thereto), the Corporation may withhold from any payment or distribution made hereunder sufficient
Shares to cover any applicable withholding and employment taxes, or require the Grantee to remit to the Company an amount sufficient to satisfy such taxes. The Corporation shall have the right to deduct from all dividends paid with respect to Shares
the amount of any taxes which the Corporation is required to withhold with respect to such dividend payments, or require the Grantee to remit to the Company an amount sufficient to satisfy such taxes. 

13. Grantee Acceptance. The Grantee shall signify the Grantee’s acceptance of the terms and conditions of this Agreement by
signing in the space provided below, by signing the attached stock power, and by returning a signed copy hereof and of the attached stock power to the Corporation. 
 [Signature page follows] 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
date first above written. 
  

			
		 	FIRST PACTRUST BANCORP, INC.
		
	By:	 	 /s/ Steven Sugarman

		
		 	ACCEPTED:
		
		 	 /s/ Robert M. Franko

		 	Robert M. Franko
		
		 	  

		 	(Street Address)
		
		 	  

		 	(City, State & Zip Code)

 STOCK POWER 

For value received, I hereby sell, assign, and transfer to First PacTrust Bancorp, Inc. (the “Corporation”) all shares of the
voting common stock of the Corporation, standing in my name on the books and records of the Corporation (whether in certificated form or book-entry or similar form), that are issued to me pursuant to that certain Restricted Stock Agreement, dated
September 25, 2012, to which the Corporation and I are parties (as the same may from time to time be amended, the “Agreement”), and do hereby irrevocably constitute and appoint the Secretary of the Corporation attorney, with full
power of substitution, to transfer this stock on the books and records of the aforesaid Corporation. To the extent the restrictions on transfer of any portion of such shares under the Agreement have lapsed or expired, this Stock Power shall cease to
be of legal effect with respect to that portion of such shares following their release to me, free of restriction, as provided in the Agreement. 
  

	
	 /s/ Robert M. Franko

	Robert M. Franko

 Dated: September 25, 2012 
 In the presence of: 

 EXHIBIT B 
 FORM OF STOCK OPTION AGREEMENT 
 FIRST PACTRUST BANCORP, INC.

 2011 OMNIBUS INCENTIVE PLAN 
 NON-QUALIFIED STOCK OPTION AGREEMENT 
 NQSO NO.
         
 This Option is granted on
[                    ] (the “Grant Date”) by First PacTrust Bancorp, Inc., a Maryland corporation (the “Corporation”), to Robert
M. Franko (the “Optionee”) in accordance with the following terms and conditions: 
 1. Option Grant and Exercise
Period. In accordance with Section 5(a) of the Employment Agreement by and among the Corporation, Pacific Trust Bank, Beach Business Bank and the Optionee dated as of the date hereof (the “Employment Agreement”), the Corporation
hereby grants to the Optionee a Non-Qualified Stock Option (“Option”) to purchase, pursuant to the First PacTrust Bancorp, Inc. 2011 Omnibus Incentive Plan, as the same may be amended from time to time (the “Plan”), and upon the
terms and conditions therein and hereinafter set forth, an aggregate of             shares (the “Option Shares”) of the voting common stock of the Corporation (“Common
Stock”) at the price of $         per share (the “Exercise Price”). A copy of the Plan, as currently in effect, is incorporated herein by reference and is attached to this Agreement. Capitalized
terms used herein which are not defined in this Agreement shall have the meanings ascribed to such terms in the Plan. 
 This
Option shall be exercisable only during the period (the “Exercise Period”) commencing on the date(s) set forth in Section 2 below, and ending at 5:00 p.m., Pacific time, on the date 10 years after the Grant Date, such later time and
date being hereinafter referred to as the “Expiration Date,” subject to earlier vesting and/or earlier expiration pursuant to Sections 5 and 7 below. 
 2. Method of Exercise of This Option. This Option may be exercised during the Exercise Period with respect to not more than the cumulative number of Option Shares set forth below on or after the
date(s) indicated, by giving written notice to the Corporation as hereinafter provided specifying the number of Option Shares to be purchased. 
  

			
	 Cumulative Number of Option Shares Exercisable
	  	Date
		  	
		  	
		  	

 The notice of exercise of this Option shall be in the form prescribed by the Committee and directed to the address set
forth in Section 10 below. The date of exercise is the date on which such notice is received by the Corporation. Such notice shall be accompanied by payment in full of the aggregate Exercise Price for the Option Shares to be purchased upon such
exercise. Payment shall be made (i) in cash or its equivalent, (ii) by tendering previously acquired shares of Common Stock having an aggregate Fair Market Value at the time of exercise equal to the aggregate Exercise Price or
(iii) by a combination of (i) and (ii). In addition, the Corporation may establish a cashless exercise program in accordance with applicable laws and regulations. Promptly after such payment, subject to Section 3 below, the
Corporation shall issue and deliver to the Optionee or other person exercising this Option a certificate or certificates representing the shares of Common Stock so purchased, registered in the name of the Optionee (or such other person), or, upon
request, in the name of the Optionee (or such other person) and in the name of another in such form of joint ownership as requested by the Optionee (or such other person) pursuant to applicable state law. In lieu of issuing a certificate or
certificates representing the shares of Common Stock so purchased, the Corporation may cause such shares to be credited to a book entry account maintained by the Corporation (or its transfer agent or other designee) for the benefit of the Optionee
or other person exercising this Option, including any joint owner as provided in the immediately preceding sentence. 

 3. Delivery and Registration of Shares of Common Stock. The Corporation’s
obligation to deliver shares of Common Stock hereunder shall, if the Committee so requests, be conditioned upon the receipt of a representation as to the investment intention of the Optionee or any other person to whom such shares are to be
delivered, in such form as the Committee shall determine to be necessary or advisable to comply with the provisions of the Securities Act of 1933, as amended (the “Securities Act”), or any other Federal, state or local securities law or
regulation. In requesting any such representation, it may be provided that such representation requirement shall become inoperative upon a registration of such shares or other action eliminating the necessity of such representation under the
Securities Act or other securities law or regulation. The Corporation shall not be required to deliver any shares upon exercise of this Option prior to (i) the admission of such shares to listing on any stock exchange or system on which the
shares of Common Stock may then be listed and (ii) the completion of such registration or other qualification of such shares under any state or Federal law, rule or regulation, as the Committee shall determine to be necessary or advisable.

 4. Nontransferability of This Option. This Option may not be sold, transferred, pledged assigned or otherwise
alienated or hypothecated, other than: (i) upon the Optionee’s death, to the person designated as the Optionee’s Beneficiary or, if no Beneficiary has been properly designated by the Optionee, by will or by the laws of descent and
distribution, (ii) pursuant to a Qualified Domestic Relations Order or (iii) by gift to any member of the Optionee’s immediate family or to a trust for the benefit of one or more of the Optionee’s immediate family members. During
the lifetime of the Optionee, this Option shall be exercisable only by the Optionee or a person acting with the legal authority of the Optionee unless it has been transferred as permitted hereby, in which case it shall be exercisable only by such
transferee. For the purpose of this Section 4, an Optionee’s “immediate family” shall mean the Optionee’s spouse, children and grandchildren. 
 In the event this Option is transferred as permitted by this Section 4, the person to whom this Option has been transferred may exercise this Option to the extent this Option would have been
exercisable by the Optionee if the Option were not so transferred. The provisions of this Option shall be binding upon, inure to the benefit of and be enforceable by the parties hereto, the successors and assigns of the Corporation and any person
acting with the legal authority of the Optionee or to whom this Option is transferred in accordance with this Section 4. 

5. Termination of Service; Expiration. The exercisability of this Option following a termination of the service of the Optionee
shall be as and to the extent provided in Sections 6.8 and 6.9 of the Plan, subject to acceleration of vesting under Section 10(b) of the Employment Agreement, if applicable under the circumstances of the termination of the Optionee’s
service. In no event shall this Option be exercisable following the Expiration Date. 

 6. Adjustments for Changes in Capitalization of the Corporation. In the event of any
merger, reorganization, consolidation, recapitalization, separation, liquidation, stock dividend, split-up, share combination or other change in the corporate structure of the Corporation affecting the shares of the Corporation’s Common Stock,
such adjustment shall be made in the number and class of shares covered by this Option and Exercise Price of this Option as shall be determined to be appropriate and equitable by the Committee to prevent dilution or enlargement of rights; and
provided that the number of shares subject to this Option shall always be a whole number. 
 7. Effect of Change in
Control. If a Change in Control shall occur, this Option shall (to the extent it is not then so exercisable) become exercisable in full and remain so exercisable for the remainder of its term, subject to Sections 6.8 and 6.9 of the Plan.
Notwithstanding the foregoing this Option shall not become exercisable to the extent that it has previously been exercised or otherwise terminated. 
 8. Stockholder Rights Not Granted by This Option. The Optionee is not entitled by virtue hereof to any rights of a stockholder of the Corporation or to notice of meetings of stockholders or to
notice of any other proceedings of the Corporation. 
 9. Withholding Tax. The Corporation shall have the power and the
right to deduct or withhold, or require the Optionee to remit to the Corporation, an amount sufficient to satisfy Federal, state and local taxes (including the Optionee’s FICA obligation) required by law to be withheld with respect to this
Option. 
 10. Notices. All notices hereunder to the Corporation shall be delivered or mailed to it addressed to the
Secretary of First PacTrust Bancorp, Inc., 18500 Von Karman Avenue, Suite 1100, Irvine, California 92612. Any notices hereunder to the Optionee shall be delivered personally or mailed to the Optionee’s address noted below. Such addresses for
the service of notices may be changed at any time provided written notice of the change is furnished in advance to the Corporation or to the Optionee, as the case may be. 
 11. Plan and Plan Interpretations as Controlling. This Option and the terms and conditions herein set forth are subject in all respects to the terms and conditions of the Plan, which are
controlling. All determinations and interpretations made in the discretion of the Committee shall be final and conclusive upon the Optionee or the Optionee’s legal representatives with regard to any question arising hereunder or under the Plan.

 12. Optionee Service. Nothing in this Agreement shall interfere with or limit in any way the right of the Corporation
or any Subsidiary to terminate the Optionee’s employment or service at any time, nor confer upon the Optionee any right to continue in the employ or service of the Corporation or any Subsidiary. 

13. Optionee Acceptance. The Optionee shall signify his acceptance of the terms and conditions of this Option by signing in the
space provided below and returning a signed copy hereof to the Corporation at the address set forth in Section 10 above. 

[Signature page follows] 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
date first above written. 
  

			
		 	FIRST PACTRUST BANCORP, INC.
		
	By:	 	 /s/ Steven Sugarman

		
		 	ACCEPTED:
		
		 	 /s/ Robert M. Franko

		 	Robert M. Franko
		
		 	  

		 	(Street Address)
		
		 	  

		 	(City, State and Zip Code)

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