Document:

EX-10.7

 Exhibit 10.7 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made effective as of January 1, 2018 (the
“Effective Date”), between Silvergate Capital Corporation (“SCC”), Silvergate Bank (“Silvergate”), and Alan J. Lane (“Executive”) for the purposes set forth in this Agreement. 

WHEREAS, SCC is a Maryland corporation and the parent company of Silvergate, a California state-chartered bank and
wholly-owned subsidiary of SCC, subject to the supervision and regulation of the California Department of Business Oversight (“DBO”), Federal Deposit Insurance Corporation (“FDIC”), and Board of Governors of the
Federal Reserve System (“FRB”); and 
 WHEREAS, it is the intention of the parties to enter into this
Agreement for the purpose of securing Executive’s services as the President and Chief Executive Officer of SCC and Chief Executive Officer of Silvergate (SCC and Silvergate together, the “Company”). 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, SCC, Silvergate and Executive agree
as follows: 
 1.          TERM. Subject to the provisions for
earlier termination hereinafter provided, Executive’s employment hereunder shall be for a term commencing on the Effective Date and ending on the third anniversary of the Effective Date (the “Term”). 

2.          POSITION, DUTIES AND RESPONSIBILITIES. During the Term,
the Company will employ Executive, and Executive agrees to be employed, as the President and Chief Executive Officer of SCC and Chief Executive Officer of Silvergate. In such employment capacity, Executive will have such duties and responsibilities
as are normally associated with such position and will report to Boards of Directors of SCC and Silvergate, respectively (together, the “Board”). In addition, Company agrees to cause Executive to be elected to the Board of Directors
of SCC and Silvergate during the term of this Agreement. During the Term, and except as set forth on Schedule 1, Executive shall devote his entire business time, attention and energies to the business and affairs of the Company, to the
performance of Executive’s duties under this Agreement and to the promotion of the Company’s interests. Notwithstanding the foregoing, subject to Section 11 below, nothing in this Agreement shall be construed to
limit Executive’s ability to provide services to or participate in non-profit, charitable or civic organizations or to manage personal investments, including personal investment vehicles, to the extent
that such activities do not materially interfere with Executive’s performance of his duties hereunder. During the Term, the geographic location where Executive’s primary office will be located will be in the Company’s principal
offices currently located at 4250 Executive Sq., Suite 300, La Jolla, CA 92037, but Executive may also work from any location Executive chooses as long as Executive has access to equipment and other resources necessary to perform Executive’s
duties. Notwithstanding the foregoing, the Company may from time to time require Executive to travel temporarily to other locations on the Company’s business. At the Company’s request, Executive will serve the Company and/or its
subsidiaries and affiliates in other capacities in addition to the foregoing. In the event that Executive serves in any one or more of such additional capacities, Executive’s compensation will not be increased beyond that specified in this
Agreement. In addition, in the event Executive’s service in one or more of such additional capacities is terminated, Executive’s compensation, as specified in this 

  
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Agreement, will not be diminished or reduced in any manner as a result of such termination for so long as Executive otherwise remains employed under the terms of this Agreement. 

3.          BASE COMPENSATION. During the Term, the Company will pay
Executive a base salary of $400,000 per year, less payroll deductions and all required withholdings, payable in accordance with the Company’s normal payroll practices and prorated for any partial pay period of employment. Executive’s base
salary shall be subject to increase only, in the sole discretion of the Board, based on the Board’s annual review (such base salary, as may be increased pursuant to this Section 3, the “Base
Compensation”). 
 4.          BONUS. In addition to the
Base Compensation, during the Term, Executive will be eligible to participate in the Company’s incentive bonus plan applicable to senior executives of the Company. The amount of Executive’s annual bonus will be based on the attainment of
performance criteria established and evaluated by the Board in accordance with the terms of such bonus plan as in effect from time to time, provided that, subject to the terms of such bonus plan, Executive’s target annual bonus shall be fifty
percent (50%) of Base Compensation. Each annual bonus shall, to the extent payable in accordance with the terms of the incentive bonus plan, be paid no later than March 15th of the year following
the year in which such annual bonus is earned. Each annual bonus shall be paid in cash. 

5.          STOCK OPTIONS. The Board of Directors of SCC may grant
stock options to Executive during the Term in its sole discretion. 

6.          BENEFITS, VACATION AND AUTOMOBILE. During the Term,
(i) Executive and his dependents shall be eligible as of the Effective Date to participate in Company’s medical and dental insurance programs, (ii) Executive shall be eligible to participate in all incentive, savings and retirement
plans, practices, policies and programs maintained or sponsored by the Company from time to time which are applicable to other senior executives of the Company, including without limitation, a Company 401(k) plan, subject to the terms and conditions
thereof, and (iii) Executive shall be eligible for standard benefits, such as paid time off and holidays, to the extent applicable generally to other senior executives of the Company, provided that, during the Term, Executive shall be entitled
to no less than thirty (30) vacation days per year (i.e., six weeks of vacation), pro-rated for any partial year of service, in all cases, subject to the terms and conditions of the applicable
Company plans or policies. In addition, without limiting the generality of the foregoing, the Company shall make available to Executive any long-term disability insurance policy which it may provide for other senior executives of the Company on the
same terms and conditions as are made available to such other senior executives. 
 In addition, during the Term, the
Company shall provide Executive, for Executive’s sole use, a suitable full-sized luxury automobile, the specific make and model of such automobile to be determined by Executive, which automobile shall
initially be new and at no time be older than four (4) years, and have an original cost of no more than $90,000 plus applicable taxes and license fees. Company shall pay all operating expenses of any nature whatsoever with regard to such
automobile, provided Executive furnishes to Company adequate records and documentary evidence required by Federal and State statutes and regulations issued by the appropriate taxing authorities for the substantiation of such payments as deductible
business 

  
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expenses of Company and not as deductible compensation to Executive. Company shall procure and maintain in force an automobile insurance policy on such automobile, containing reasonable and
necessary coverage. 
 7.          EXPENSES. During the Term,
Executive shall be entitled to receive prompt reimbursement of all reasonable business expenses incurred by Executive in accordance with Company expense reimbursement policy applicable to its senior executives, as in effect from time to time (plus
such additional expense amounts as Executive, in his reasonable discretion and subject to Company approval, deems necessary and appropriate to carry out his duties). To the extent that any such expenses are deemed to constitute compensation to
Executive, such expenses shall be reimbursed by December 31 of the year following the year in which the expense was incurred. The amount of any such expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any
subsequent year and Executive’s right to reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit. 

8.          TERMINATION OF EMPLOYMENT. 

a.          Termination Without Cause. The Company may terminate
Executive’s employment without Cause (as defined below) at any time during the Term upon thirty (30) days’ written notice provided to Executive in accordance with Section 10 below, or in the Company’s sole discretion,
payment of Executive’s Base Salary for such period in lieu of notice. If Executive’s termination of employment is without Cause and is also a “separation from service” (within the meaning of Section 409A(a)(2)(A)(i) of the
Internal Revenue Code of 1986, as amended (the “Code”), and Treasury Regulation Section 1.409A-1(h)) (“Separation from Service”), the Company shall promptly or, in the
case of obligations described in clause (iv) below, as such obligations become due, pay or provide to Executive, (i) Executive’s earned but unpaid Base Compensation accrued through the date of such Separation from Service (the
“Termination Date”), (ii) accrued but unpaid vacation time through the Termination Date, (iii) reimbursement of any business expenses incurred by Executive prior to the Termination Date that are reimbursable under
Section 7 above, (iv) any vested benefits and other amounts due to Executive under any plan, program or policy of the Company, and (v) any payment in lieu of notice of termination under this
Section 8.a (together, the “Accrued Obligations”). In addition, subject to Section 8.f and Section 8.h below and Executive’s execution and non-revocation of a binding release in accordance with Section 8.g below, and Executive acting in accordance with the post-termination covenants of Section 11
below, in the event Executive experiences a Separation from Service due to a termination by the Company without Cause, the Company shall pay or provide to Executive (the “Severance”): 

(1)          twelve (12) monthly payments in accordance with the
Company’s regular payroll schedule, each equal to twice Executive’s monthly portion of the Base Compensation at the rate in effect as of the Termination Date (disregarding any purported reduction of such Base Compensation), and 

  
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 (2)          at the
Company’s expense, continuation of group healthcare coverage for Executive and his legal dependents until the earlier of twelve months from the Termination Date or such time as Executive becomes eligible to receive medical benefits under
another group health plan, provided that Executive properly elects continuation healthcare coverage under Section 4980B of the Code and the regulations thereunder; following such continuation period, any further continuation of such coverage
under applicable law shall be at Executive’s sole expense. 

b.          Resignation. Executive may terminate his employment at
any time upon thirty (30) days’ written notice provided to Company in accordance with Section 10 below, provided, that the Company may, in the Company’s sole discretion, waive such notice period with payment
of Executive’s Base Salary for such period in lieu of notice, and Executive shall be entitled to receive the Accrued Obligations promptly or, in the case of benefits described in Section 8.a(iv) above, as such
obligations become due. 
 c.          Death; Disability. If
Executive dies during the Term or his employment is terminated due to his total and permanent disability (within the meaning of Section 22(e)(3) of the Code) (“Disability”), Executive or his estate, as applicable, shall be
entitled to receive the Accrued Obligations promptly or, in the case of benefits described in Section 8.a(iv) above, as such obligations become due. 

d.          Resignation for Good Reason. As used herein,
“Good Reason” shall mean the occurrence of any of the following, without Executive’s express written consent: (i) a material reduction of Executive’s duties or responsibilities; (ii) a material reduction by
Company of Executive’s Base Compensation as in effect immediately prior to such reduction; (iii) the relocation of Executive’s principal work location to a facility or a location that constitutes a material change in the geographic
location at which Executive provides services (within the meaning of Section 409A, as defined below); or (iv) a material breach by the Company of Sections 3, 4, 5, 6 or 7 of this Agreement;
provided, that no resignation for Good Reason shall be effective unless and until (A) Executive has first provided the Company with written notice specifically identifying the acts or omissions constituting the grounds for “Good
Reason” within thirty (30) days after Executive has or should reasonably be expected to have had knowledge of the occurrence thereof, (B) the Company has not cured such acts or omissions within thirty (30) days of its actual
receipt of such notice, and (C) the effective date of Executive’s termination for Good Reason occurs no later than ninety (90) days after the initial existence of the facts or circumstances constituting Good Reason. 

If Executive’s termination of employment is for “Good Reason” and is also a Separation from Service, then
Company shall, subject to Section 8.f and Section 8.h below and Executive’s execution and non-revocation of a binding release in accordance with
Section 8.g below, have the same obligations as are set forth in Section 8.a above under the circumstance when a termination without Cause is also a Separation from Service. 

  
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 e.          Cause.
The Company may terminate Executive’s employment for Cause by providing notice to Executive in accordance with Section 10 below. If the Company terminates Executive’s employment for Cause, Executive shall be
entitled to receive the Accrued Obligations promptly or, in the case of benefits described in Section 8.a(iv) above, as such obligations become due. 

f.          Potential Six-Month
Delay. Notwithstanding anything to the contrary in this Agreement, compensation and benefits that become payable in connection with a termination of employment (if any), including without limitation any Severance payments, shall be paid to
Executive during the six (6)-month period following his Separation from Service only to the extent that the Company reasonably determines that paying such amounts at the time or times indicated in this Agreement will not cause Executive to incur
additional taxes under Code Section 409A (together with Department of Treasury regulations issued thereunder, “Section 409A”). If the payment of any such amounts is delayed as a result of the previous
sentence, then on the first business day following the end of such six (6)-month period (or such earlier date upon which such amount can be paid under Section 409A without being subject to such additional taxes, including as a result of
Executive’s death), the Company shall pay to Executive a lump-sum amount equal to the cumulative amount that would have otherwise been payable to Executive during such six (6)-month period. 

g.          Release. Executive’s right to receive the Severance
payments and benefits set forth in this Section 8 is conditioned on and subject to the execution and non-revocation by Executive of a general release of claims against the Company and
its affiliates in the form of Exhibit A hereto. 

h.          Regulatory Restrictions. The parties understand and
agree that at the time any payment would otherwise be made or benefit provided under this Section 8, depending on the facts and circumstances existing at such time, the satisfaction of such obligations by the Company may be
deemed by a regulatory authority to be illegal, an unsafe and unsound practice, or for some other reason not properly due or payable by the Company. Among other things, the regulations at 12 C.F.R. Part 30, Appendix A promulgated pursuant to
Section 39(a) of the Federal Deposit Insurance Act, and at 12 C.F.R. Part 359, or similar regulations or regulatory action following similar principles may apply at such time. The Company agrees that to the extent reasonably feasible, it will
in good faith seek to determine the position of the appropriate regulatory authority in advance of each payment or benefit otherwise due under this Section 8, including seeking the approval or acquiescence of the
appropriate regulatory authorities, if required. The parties understand, acknowledge and agree that, notwithstanding any other provision of this Agreement, the Company shall not be obligated to make any payment or provide any benefit under this
Section 8 (except as required by law) where (i) an appropriate regulatory authority does not approve or acquiesce as required or (ii) the Company has been informed either orally or in writing by a representative
of the appropriate regulatory authority that it is the position of such regulatory authority that making such payment or providing such benefit would constitute an unsafe and unsound practice, violate a written agreement with the regulatory
authority, violate an applicable rule, law or regulation, or would cause the representative of the regulatory 

  
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authority to recommend enforcement action against the Company or a subsidiary or affiliate of the Company. 

i.          Termination of Offices and Directorships. Upon
termination of Executive’s employment for any reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any affiliate, and shall take all actions reasonably requested by the
Company to effectuate the foregoing. 
 j.          Definitions.
For purposes of this Agreement: 

(1)          “Acquisition” means (i) any
consolidation or merger of the Company with or into any other corporation or other entity or person in which the stockholders of the Company prior to such consolidation or merger own, directly or indirectly, less than fifty percent (50%) of the
continuing or surviving entity’s voting power immediately after such consolidation or merger, excluding any consolidation or merger effected exclusively to change the domicile of the Company; or (ii) a sale or other disposition of all or
substantially all of the stock or assets of the Company. 

(2)          “Cause” shall mean (A) Executive
willfully and habitually fails to perform the duties which Executive is required to perform hereunder, (B) Executive willfully and habitually engages in illegal activity which materially and adversely affects the Company’s reputation in
the community or which evidences Executive’s lack of fitness or ability to perform his duties as reasonably determined by the Board in good faith, (C) Executive willfully and habitually engages in the falsification of reports or makes
material, intentional misrepresentations or omissions of information supplied to SCC, Silvergate or to regulatory agencies, (D) Executive willfully commits any act which would cause termination of coverage under Silvergate’s Bankers’
Blanket Bond, (E) Executive willfully breaches a fiduciary duty, exhibits dishonesty or deliberately or repeatedly disregards material policies or procedures of the Company, (F) Executive willfully breaches this Agreement in any material
respect, (G) Executive willfully and habitually engages in conduct or acts of moral turpitude that are materially injurious to the Company or any of its subsidiaries and affiliates, (H) Executive is suspended or temporarily or permanently
removed or prohibited from participating in the conduct of the business of the Company by the, FRB, FDIC, DBO or any other banking authority. Notwithstanding the foregoing, Executive’s employment with the Company shall not be deemed to have
been terminated for Cause unless the Company provides written notice to Executive in accordance with Section 10 below of its intention to terminate his employment for Cause, setting forth the specific facts or circumstances
constituting Cause and, in the case of facts or circumstances that are capable of cure, Executive has either failed to cure, or has failed to take reasonable steps toward curing, such facts or circumstances within fifteen (15) days of such
notice (or, in the case that reasonable steps have been taken within fifteen (15) days of such notice, has failed to cure within forty-five (45) days of such notice). 

  
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 9.          INTERNAL
REVENUE CODE SECTION 280G.          The terms of this Section 9 override and control any and all other terms of this Agreement to the extent such terms are inconsistent
with this Section 9. This Section 9 shall apply to the extent that the aggregate present value of any or all payments and benefits in the nature of compensation to (or for the benefit of) Executive
provided under this Agreement or otherwise provided to Executive by or on behalf of the Company or any subsidiary, affiliate, parent or controlling entity of the Company, constitute a “parachute payment” under the provisions of
Section 280G of the Code (the “Total Payments”). In the event that the Total Payments would exceed an amount equal to 299% of Executive’s “base amount” as that term is defined in Section 280G of the Code and
would be subject to the excise tax imposed by Section 4999 of the Code, as determined by the independent public accountants for the Company (the “Accountants”), then prior to the first relevant payment under this Agreement, the
Company shall inform Executive of this determination and payment shall be delayed for a period of no longer than thirty (30) days. During that thirty (30) days, the Accountants, legal counsel to the Company, Executive and Executive’s
tax advisors shall review the tax impact to Executive of all of the payments and benefits included in the calculation of the Total Payments and the Company shall pay to Executive under this Agreement whichever of the following would provide
Executive with the higher after-tax compensation, after taking into account all applicable state and federal taxes (computed at the highest marginal rate) including Executive’s share of F.I.C.A. and
Medicare taxes and any taxes payable pursuant to Section 4999 of the Code: (i) a reduced payment under this Agreement (or a reduction in other payments or benefits included in the Total Payments such that the Total Payments are no more
than 299% of the “base amount”, or (ii) the payment required under this Agreement. For purposes of clause (i), the reduction of the Total Payments shall be made by first reducing Total Payments that are continued employee benefits
coverage and then any cash payments to the extent necessary to not exceed 299% of Executive’s “base amount,” provided that such reduction is applied in a manner that complies with Code Section 409A. 

10.          NOTICE. Any notice or other communication required or
permitted under this Agreement shall be effective only if it is in writing and delivered personally or sent by fax, email (followed by confirmation in writing) or registered or certified mail, postage prepaid, addressed as follows (or if it is sent
through any other method agreed upon by the parties): 
  

	
	 If to the Company:

	
	 Silvergate Capital Corporation
4250 Executive Square, Suite 300
La Jolla, CA 92037
Attention: Dennis
Frank
Facsimile: (858) 430-3151
E-mail: dsf@silvergatebank.com

 If to Executive: to Executive’s most current home address on file with the Company’s
Human Resources Department, or to such other address as any party hereto may designate by notice to the other in accordance with this Section 10, and shall be deemed to have been given upon receipt. 

  
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 11.          COVENANTS.

 a.          Noncompetition, Nonsolicitation and Nondisclosure by
Executive. 
 (1)          Executive hereby agrees that he shall not,
during the Term directly or indirectly, whether as an employee, employer, consultant, agent, principal, stockholder, officer, director, or in any other individual or representative capacity, engage or participate in any banking or financial services
business competitive with SCC or Silvergate. 
 (2)          Executive
hereby agrees that he shall not, during the Term and for the twelve (12)-month period immediately following termination of Executive’s employment hereunder (the “Restricted Period”), solicit, encourage or assist, directly,
indirectly or in any manner whatsoever, any employees of the Company or its affiliates or subsidiaries (including any former employees who voluntarily terminated employment with the Company within a twelve (12)-month period prior to Executive’s
termination of employment with the Company) to resign or to apply for or accept employment with any other competitive banking or financial services business within the counties in California in which the Company has located its offices. In addition,
Executive hereby agrees that he shall not, at any time, use any Proprietary Information (as defined below) to solicit, encourage or assist, directly, indirectly or in any manner whatsoever, any customer, person or entity that has a business
relationship with the Company or, during the twelve (12)-month period prior to Executive’s termination of employment with the Company, was engaged in a business relationship with the Company, to terminate such business relationship and engage
in a business relationship with any other competitive banking or financial services business within the counties in California in which the Company has located its offices. 

b.          Disclosure of Information. Executive shall not, at any
time, without the prior written consent of the Board or except as required by law to comply with legal process including, without limitation, by oral questions, interrogatories, requests for information or documents, subpoena, civil investigative
demand or similar process, disclose to anyone, or use for any purpose other than providing service to and for the benefit of the Company, any trade or business secrets, including without limitation, any financial information, customer lists,
computer software or other information concerning the business or operations of the Company or its affiliates or subsidiaries (the “Proprietary Information”); provided, that Proprietary Information shall not include information
(i) in or which enters the public domain (other than by breach of Executive’s obligations hereunder), (ii) acquired by Executive other than in connection with his employment, or (iii) that is disclosed to Executive by a third party
who Executive reasonably believes is not obligated to the Company to keep such information confidential. Executive further recognizes and acknowledges that any financial information concerning any customers of the Company or its affiliates or
subsidiaries is strictly confidential and is a valuable, special and unique asset of the Company’s business which also constitutes Proprietary Information. Executive shall 

  
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not, at any time, without such consent or except as required by law, disclose to anyone said financial information or any part thereof, for any reason or purpose whatsoever. In the event
Executive is required by law to disclose such information described in this Section 11.b, Executive will provide the Company with prompt notice of such request so that it may consider seeking a protective order. If, in the
absence of a protective order or the receipt of a waiver hereunder, Executive is nonetheless, in the opinion of counsel, compelled to disclose any of such information to any tribunal or any other party, then Executive may disclose (on an “as
needed” basis only) such information to such tribunal or other party without liability hereunder. Notwithstanding the foregoing, Executive may disclose such information concerning the business or operations of the Company and its affiliates and
subsidiaries as reasonably necessary in the proper performance of Executive’s duties and responsibilities hereunder or as may be required by the FDIC, DBO, FRB or other regulatory agency having jurisdiction over the operations of the Company in
connection with an examination of the Company or other proceeding conducted by such regulatory agency. 

c.          
Non-Disparagement. During the Term and following termination of this Agreement and Executive’s employment hereunder, (i) Executive agrees that he shall not publicly or privately disparage,
defame or criticize the Company, its shareholders, its affiliates, subsidiaries, officers or directors, and (ii) the Company, and each of them, agrees that none of its officers or directors shall publicly disparage, defame or criticize
Executive. 
 d.          Written, Printed or Electronic Material.
All written, printed and electronic material, notebooks and records including, without limitation, computer disks used by Executive in performing duties for the Company, other than Executive’s personal address lists, telephone lists, notes and
diaries, are and shall remain the sole property of the Company. Upon termination of Executive’s employment or earlier request by the Company, Executive shall promptly return all such materials (including all copies, extracts and summaries
thereof) to the Company. 
 e.          Breach of Covenants. Each
party acknowledges that a breach by such party of any of the covenants or restrictions contained in this Section 11 will cause irreparable damage to the other party, the exact amount of which will be difficult to ascertain,
and that the remedies at law for any such breach will be inadequate. Accordingly, each party agrees that if such party breaches or attempts to breach any such covenants or restrictions, the other party shall be entitled to temporary or permanent
injunctive relief with respect to any such breach or attempted breach (in addition to any other remedies, at law or in equity, as may be available to such other party), without posting bond or other security. 

12.          INDEMNIFICATION. The Company shall defend and indemnify
Executive, to the extent permitted by law and applicable regulation (including as limited by 12 C.F.R. Part 359, or similar regulations or regulatory action following similar principles), if he becomes a party or is threatened to be made a party in
any action brought by a third party against Executive (whether or not SCC or Silvergate is joined as a party defendant) against expenses, judgments, fines, settlements and other amounts actually and reasonably incurred in connection with said

  
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action if Executive acted in good faith and in a manner Executive reasonably believed to be in the best interests of the Company (and, with respect to a criminal proceeding, if Executive had no
reasonable cause to believe his conduct was unlawful), provided that the alleged conduct of Executive arose out of and was within the course and scope of his employment as an officer or director of the Company. 

13.          REPRESENTATIONS. Executive hereby represents and
warrants to the Company that (a) Executive is entering into this Agreement voluntarily and that the performance of his obligations hereunder will not violate any agreement between Executive and any other person, firm, organization or other
entity, and (b) Executive is not bound by the terms of any agreement with any previous employer or other party to refrain from competing, directly or indirectly, with the business of such previous employer or other party that would be violated
by his entering into this Agreement and/or providing services to the Company pursuant to the terms of this Agreement. 

14.          CODE SECTION 409A. To the extent applicable, this
Agreement shall be interpreted in accordance with Section 409A. Notwithstanding any provision of this Agreement to the contrary, if at any time Executive and the Company mutually determine that any payments or benefits payable hereunder may be
subject to Section 409A, the parties shall work together to adopt such amendments to this Agreement or take any other actions that the parties determine are necessary or appropriate to (i) exempt such payments and benefits from
Section 409A and/or preserve the intended tax treatment of such payments or benefits, or (ii) comply with the requirements of Section 409A and thereby avoid the application of penalty taxes under Section 409A. 

15.          WITHHOLDING. The Company may withhold from any amounts
payable under this Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

16.          TERMINATION OF PRIOR AGREEMENT. That certain Employment
Agreement between the Company and Executive dated January 1, 2015, as amended effective April 19, 2017, (the “Prior Agreement”), is hereby terminated in its entirety. 

17.          ENTIRE AGREEMENT. As of the Effective Date, this
Agreement, together with any Indemnification Agreement, constitutes the final, complete and exclusive agreement between Executive and the Company with respect to the subject matter hereof and replaces and supersedes any and all other agreements,
offers or promises, whether oral or written, made to Executive by the Company or any representative thereof, including without limitation, the Prior Agreement. Executive agrees that any such agreement, offer or promise is hereby terminated and will
be of no further force or effect, and that upon his execution of this Agreement, Executive will have no right or interest in or with respect to any such agreement, offer or promise. 

18.          AMENDMENT. The terms of this Agreement may not be
amended or modified other than by a written instrument executed by the parties hereto or their respective successors. 

  
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19.          ACKNOWLEDGEMENT. Executive hereby acknowledges
(a) that Executive has consulted with or has had the opportunity to consult with independent counsel of his own choice concerning this Agreement, and has been advised to do so by the Company, and (b) that Executive has read and understands
this Agreement, is fully aware of its legal effect, and has entered into it freely based on his own judgment. 

20.          GOVERNING LAW. This Agreement shall be governed by and
construed in accordance with the laws of the State of California, without regard to conflicts of laws principles thereof. 

21.          DISPUTE RESOLUTION. Any dispute arising out of or
related to this Agreement shall be resolved through binding arbitration through JAMS in San Diego, California, under the then current applicable rules of JAMS. The expenses of arbitration (other than attorneys’ fees) shall be paid by the
Company. 
 22.          NO WAIVER. Failure by either party hereto
to insist upon strict compliance with any provision of this Agreement or to assert any right such party may have hereunder shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

23.          ASSIGNMENT. This Agreement is binding on and for the
benefit of the parties hereto and their respective successors, heirs, executors, administrators and other legal representatives. Neither this Agreement nor any right or obligation hereunder may be assigned by Executive. 

24.          SEVERABILITY. The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 

25.          CONSTRUCTION. The parties hereto acknowledge and agree
that each party has reviewed and negotiated the terms and provisions of this Agreement and has had the opportunity to contribute to its revision. Accordingly, the rule of construction to the effect that ambiguities are resolved against the drafting
party shall not be employed in the interpretation of this Agreement. Rather, the terms of this Agreement shall be construed fairly as to all parties hereto and not in favor or against any party by the rule of construction abovementioned. 

26.          COUNTERPARTS. This Agreement may be executed in several
counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. 

27.          CAPTIONS. The captions of this Agreement are not part of
the provisions hereof, rather they are included for convenience only and shall have no force or effect. 

28.          SURVIVAL. Any provision herein that, in order to give
proper effect to its intent, should survive the expiration or termination of this Agreement, will survive the expiration or earlier termination of this Agreement for the period specified therein, or if nothing is specified, until fully performed to
completion.
 [SIGNATURE PAGE FOLLOWS] 

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

	
	 EXECUTIVE:

	
	 /s/ Alan J.
Lane                         

Alan J. Lane

	
	 SILVERGATE:

	
	 SILVERGATE CAPITAL CORPORATION

	
	 By: /s/ Dennis S. Frank        

	
	 Name: Dennis S. Frank

	
	 Title: Chairman of the Board

	
	 SILVERGATE BANK

	
	 By: /s/ Dennis S.
Frank                 

	
	 Name: Dennis S. Frank

	
	 Title: Chairman of the Board

  
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 SCHEDULE 1 

LIST OF EXECUTIVE’S 

OTHER PERMITTED ACTIVITIES 

Boards of Directors positions: 

-Natural Alternatives International, Inc., Director 

Other Activities: 

Legatus membership and expenses to be paid by Company up to a maximum of $10,000 per year. 

  
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 Exhibit A 

SEPARATION AGREEMENT 

AND 
 GENERAL RELEASE OF
CLAIMS 
 THIS SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS (hereinafter “Agreement”) is entered into by
and between, on one hand, Alan J. Lane (hereinafter “Executive”), and on the other hand, Silvergate Bank and Silvergate Capital Corporation (together “Employer” or “Company”). 

RECITALS 

A.          Executive has been employed by the Company as its
________________. 
 B.          On or about _______________,
Executive’s employment with the Company terminated. 
 C.          In
exchange for compensation that Executive would not otherwise be entitled to receive, Executive desires to settle and compromise any and all possible claims and disputes he has against the Company arising out of their relationship to date, and to
provide for a general release of any and all such claims. 
 AGREEMENT 

1.          Termination of Employment. Executive agrees that his
employment with the Company shall terminate as of ______________. 

2.          Separation Pay/Consideration. In consideration of the
covenants and releases set forth herein, the Company agrees to pay Executive the amount payable to him and the non-monetary consideration (if any) due him, pursuant to and in accordance with,
Section 8.a or 8.d, as the case may be, of the Employment Agreement dated January 1, 2018, by and between Executive and the Company (the “Employment Agreement”), less all applicable state and federal
tax withholdings (in each case, the “Payment”), $2,000 of which shall be consideration for Executive’s release of ADEA claims as set forth in Section 4, below. A check representing the Payment, if applicable,
shall be mailed to Executive at his last home address on file with the Company in accordance with the Employment Agreement. 

3.          Release of All Claims Except ADEA Claims. 

a.          Release. In consideration of the separation payment
described in Section 2 of this Agreement, which Executive would otherwise not be entitled to except for signing this Agreement, Executive does hereby unconditionally, irrevocably and absolutely release and discharge the
Company, its owners, directors, officers, employees, agents, attorneys, stockholders, insurers, divisions, successors and assigns, and any related holding, parent, sister or subsidiary corporations from any and all loss, liability, claims, demands,
causes of action or suits of any type, whether in law and/or in equity, related directly or indirectly, or in any way connected with any transactions, affairs or 

 
occurrences between them to date, including, but not limited to, Executive’s employment with the Company and the termination of said employment. This Agreement specifically applies, without
limitation, to any and all wage claims, claims for unpaid expenses, contract or tort claims, claims for wrongful termination, and claims arising under Title VII of the Civil Rights Act of 1991, the Americans with Disabilities Act, the Equal Pay Act,
the California Fair Employment and Housing Act, the Fair Labor Standards Act, the Family and Medical Leave Act, the California Family Rights Act, the California Labor Code, and any and all federal or state statutes or laws governing discrimination
in employment except the federal statute specifically excluded hereafter. This release specifically excludes any and all loss, liability, claims, demands, causes of action or suits of any type arising under the ADEA. Executive’s release of ADEA
claims will be addressed separately in Section 4 of this Agreement. 

b.          Section 1542 Waiver. Executive does expressly waive all
of the benefits and rights granted to him/her pursuant to California Civil Code section 1542, which reads as follows: 

A general release does not extend to claims which the creditor does not know of or suspect to exist in his
or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 

Executive does certify that he has read all of this Agreement, including the release provisions contained herein and the
quoted Civil Code section, and that he fully understands all of the same. Executive hereby expressly agrees that this Agreement shall extend and apply to all unknown, unsuspected and unanticipated injuries and damages, as well as those that are now
disclosed. 
 c.          No Further Action. Executive irrevocably
and absolutely agrees that he will not prosecute nor allow to be prosecuted on his behalf, in any administrative agency, whether federal or state, or in any court, whether federal or state, any claim or demand of any type related to the matters
released above, it being the intention of the parties that with the execution by Executive of this release, the Company, its owners, directors, officers, employees, agents, attorneys, stockholders, insurers, divisions, successors and assigns, and
any related holding, parent, sister or subsidiary corporations will be absolutely, unconditionally and forever discharged of and from all obligations to or on behalf of Executive related in any way to the matters discharged herein. 

4.          Release of All ADEA Claims/OWBPA Provisions. 

a.          ADEA Claims. This section of the Agreement exclusively
addresses Executive’s release of claims arising under federal law involving discrimination on the basis of age in employment (age forty and above). This section is provided separately, in compliance with federal law, including but not limited
to the Older Workers’ Benefit Protection Act of 1990 (“OWBPA”), to ensure that Executive clearly understands his rights so that any release of age discrimination claims under federal law (the ADEA) is knowing and voluntary on the part
of Executive. 
 b.          Review Period/OWBPA Provisions. In
accordance with the provisions of the OWBPA, Executive is aware of the following: Executive represents, acknowledges and agrees that the Company has advised him, in writing, (i) to discuss this Agreement with an attorney, and to that extent, if
any, that Executive has desired, Executive has done so; (ii) that the Company has given 

 
Executive twenty-one (21) days from receipt of this Agreement to review and consider this Agreement before signing it, and Executive understands that
he may use as much of this twenty-one (21) day period as he wishes prior to signing; (iii) that no promise, representation, warranty or agreements not contained herein have been made by or with
anyone to cause him to sign this Agreement; (iv) that he has read this Agreement in its entirety, and fully understands and is aware of its meaning, intent, content and legal effect; (v) and that he is executing this release voluntarily
and free of any duress or coercion; (vi) this Agreement includes rights and claims under the federal Age Discrimination in Employment Act, as amended, and the federal OWBPA, as amended; and (vii) that this Agreement does not waive rights
or claims that may arise after the date Executive signs this Agreement 

c.          Effective Date of Agreement. The parties acknowledge
that for a period of ________ (___) days following the execution of this Agreement, Executive may revoke the Agreement, and the Agreement shall not become effective or enforceable until the revocation period has expired without any revocation.
This Agreement shall become effective ________ (___) days after it has been signed by Executive and the Company, and in the event the parties do not sign on the same date, then this Agreement shall become effective ________ (___) days
after the date it is signed by Executive. 
 d.          EEOC
Charges. Nothing in this Agreement shall be deemed to preclude Executive from filing an Age Discrimination in Employment Act charge or complaint with the federal Equal Employment Opportunity Commission, although he may have no right to relief by
reason of the claims he has released herein, or from participating in an investigation or proceeding conducted by the Equal Employment Opportunity Commission. 

e.          Release. In consideration of the separation payment
described in Section 2 of this Agreement, which Executive would otherwise not be entitled to except for signing this Agreement, Executive does hereby unconditionally, irrevocably and absolutely release and discharge the
Company, its owners, directors, officers, employees, agents, attorneys, stockholders, insurers, divisions, successors and/or assigns, and any related holding, parent, sister or subsidiary corporations from any and all loss, liability, claims,
demands, causes of action or suits of any type relating to age discrimination in employment, including any claims arising under the ADEA and/or the OWBPA and related directly or indirectly to Executive’s employment with the Company and the
termination of said employment. 
 f.          Section 1542
Waiver. Executive does expressly waive all of the benefits and rights granted to him pursuant to California Civil Code section 1542, which reads as follows: 

A general release does not extend to claims which the creditor does not know of or suspect to exist in his
or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 

Executive does certify that he has read all of this Agreement, including the release provisions contained herein and the
quoted Civil Code section, and that he fully understands all of the same. Executive hereby expressly agrees that this Agreement shall extend and apply to all unknown, unsuspected and unanticipated ADEA injuries and damages, as well as those ADEA
injuries and damages that are now disclosed. 

 5.          Confidentiality/Non-Disparagement. Executive agrees that all matters relative to this Agreement shall remain confidential. Accordingly, Executive hereby agrees that, with the exception of his spouse, counsel and
tax advisors, he shall not discuss, disclose or reveal to any other persons, entities or organizations, whether within or outside of the Company, the terms and conditions of this Agreement. Executive agrees not to make any derogatory or adverse
statements, written or verbal, regarding the Company or any of its present or former directors, officers or employees, to anyone. 

6.          Covenants. Executive hereby reaffirms his obligations
under his Employment Agreement with the Company to which this Agreement relates, which shall remain in effect to the extent provided in the Employment Agreement. Executive further agrees that he shall not disclose to any person(s) or entity(ies) at
any time or in any manner, directly or indirectly, any information relating to the operations of the Company which has not already been disclosed to the general public. Executive agrees that this provision includes, but is not limited to, the
following information: proprietary information and/or trade secrets; secret formulae; customer lists and/or names; product and service prices; customer charges; contracts; contract negotiations and employee relations matters. Executive understands
and agrees that this list is not all-inclusive. 

7.          Return of Company Property. Executive agrees to promptly
return all property or information belonging to the Company, including all keys, computers, cellular telephones, and any document or property Executive generated during his employment at the Company, and agrees that no such property will be in his
possession or control at the time he receives the consideration specified in Section 1. This includes all property or information that may have come into his possession as a result of his employment with the Company.
Executive further acknowledges that he has not retained any copies of any such information. 

8.          Entire Agreement. The parties further declare and
represent that no promise, inducement or agreement not herein expressed has been made to them and that this Agreement contains the full and entire agreement between and among the parties, and that the terms of this Agreement are contractual and not
a mere recital. 
 9.          Applicable Law. The validity,
interpretation, and performance of this Agreement shall be construed and interpreted according to the laws of the State of California. 

10.          Dispute Resolution. Except as set forth in
Section 4(d), any dispute arising out of or related to this Agreement shall be resolved through binding arbitration through JAMS in San Diego, California, under the then current applicable rules of JAMS. Each party
shall be responsible for its or his or her own costs and attorneys’ fees in connection with the arbitration, as well as half of the costs of the arbitration. 

11.          Knowing and Voluntary Agreement. Executive acknowledges
that he has carefully read and fully understands all the provisions and effects of this Agreement. Executive further acknowledges that he has been given the opportunity to consult with his own independent legal counsel with respect to the matters
referenced in this Agreement. Executive acknowledges that he has fully discussed this Agreement with his attorney or has voluntarily chosen to sign this Agreement without consulting an attorney, fully understanding the consequences of this
Agreement. Executive further acknowledges that he is entering into this Agreement without coercion or duress from the Company and that neither the Company nor any of its agents or attorneys has made any

 
representations or promises concerning the terms or effects of this Agreement other than those set forth in this Agreement. 

12.          Complete Defense. This Agreement may be pleaded as a
full and complete defense and may be used as the basis for an injunction against any action, suit or proceeding, which may be prosecuted, instituted or attempted by either party in breach thereof. 

13.          Counterparts. This Agreement may be executed in
counterparts and, if so executed, each such counterpart shall have the force and effect of an original. A facsimile signature shall have the same force and effect as an original signature. 

14.          Severability. If any provision of this Agreement, or
part thereof, is held invalid, void or voidable as against public policy or otherwise, the invalidity shall not affect other provisions, or parts thereof, which may be given effect without the invalid provision or part. To this extent, the
provisions, and parts thereof, of this Agreement are declared to be severable. 

15.          No Admission of Liability. It is understood that this
Agreement is not an admission of any liability by any person, firm, association or corporation but is in compromise of a disputed claim. 

16.          Successors and Assigns. This Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns. 
 [SIGNATURE
PAGE FOLLOWS] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement on
the dates shown below. 
  

							
	 Dated: __________________, 20__
	 		 		 	 __________________________________

				
		 		 		 	 Alan J. Lane, Executive

				
		 		 		 	Silvergate Bank:
				
	 Dated: __________________, 20__
	 		 	 By:
	 	 __________________________________

		 		 		 	
		 		 	 Title:
	 	 __________________________________

		 		 		 	
				
		 		 		 	Silvergate Capital Corporation:
				
	 Dated: __________________, 20__
	 		 	   By:
	 	 __________________________________

		 		 		 	
		 		 	 Title:
	 	 __________________________________EX-10.8

 Exhibit 10.8 

CHANGE IN CONTROL SEVERANCE AGREEMENT 

THIS CHANGE IN CONTROL SEVERANCE AGREEMENT is dated this 4th day of October, 2017, among SILVERGATE CAPITAL CORPORATION, a Maryland corporation (the
“Corporation”), SILVERGATE BANK, a California banking corporation (the “Bank”), and Dennis S. Frank (the “Executive”). The Corporation and the Bank are collectively referred to as the “Employers”. 

WITNESSETH 
 WHEREAS, Corporation is a
bank holding company registered under the Bank Holding Company Act of 1956, as amended, subject to the primary supervision and regulation of the Board of Governors of the Federal Reserve System (“FRB”). 

WHEREAS, Bank is a California chartered commercial bank and wholly-owned subsidiary of Corporation, subject to the primary supervision and regulation of the
California Department of Business Oversight (“CDBO”) and the FRB by virtue of its membership in the Federal Reserve Bank of San Francisco. 

WHEREAS, the Executive is presently an officer of each of the Employers; and 

WHEREAS, in order to induce the Executive to remain in the employ of the Employers and in consideration of the Executive’s agreeing to remain in the
employ of the Employers, the parties desire to specify the severance benefits which shall be due the Executive in the event that Executive’s employment with the Employers is terminated under specified circumstances; 

NOW THEREFORE, in consideration of the mutual agreements herein contained, and upon the other terms and conditions hereinafter provided, the parties hereby
agree as follows: 
 1.        Definitions. The following words and
terms shall have the meanings set forth below for the purposes of this Agreement: 
  

	 	(a)	 Cause. Termination of the Executive’s employment with the Employers for “Cause”
shall mean termination because of personal dishonesty, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties on behalf of either Employer, willful violation of any law, rule or
regulation (other than traffic violations or similar offenses) or final cease-and-desist order. For purposes of this paragraph, no act or failure to act on the
Executive’s part shall be considered “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that the Executive’s action or omission was in the best interests of the
Employers. Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a Notice of Termination. In the event employment of the Executive is terminated pursuant to this subparagraph 1(a),
the Employers shall have no further liability to the Executive under this Agreement. Termination under this subparagraph 1(a) shall not prejudice any remedy that the Employers may have at law, in equity, or under this Agreement.

  

	 	(b)	 Change in Control of the Corporation. “Change in Control of the Corporation” shall mean the
occurrence of any of the following events, subject to the interpretational provisions thereafter: 

 (i)    A person (or group) acquires stock that,
together with stock already owned by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of the Corporation, and (A) a majority of the members of the board of
directors is replaced during the twelve (12)-month period following such acquisition, by directors whose appointment or election is not endorsed by a majority of the Corporation’s board of directors prior to the date of the appointment or
election; (B) the acquisition is the result of a merger or consolidation of the Corporation; or (C) the acquisition constitutes more than ninety percent (90%) of the total fair market value or total voting power of the stock of the
Corporation. If a person (or group) already owns more than fifty percent (50%) of the stock, the acquisition of additional stock will not be considered a Change in Control of the Corporation under this paragraph unless and until the acquisition of
additional stock reaches the threshold in (C) above. Under this paragraph, a Change in Control of the Corporation occurs only if there is a transfer or issuance of stock and the stock remains outstanding after the transaction. The change in
board membership event is considered part of a Change in Control of the Corporation only when there is no majority shareholder corporation. 

(ii)    A person (or group) acquires, during a twelve (12)-month period, stock possessing fifty percent
(50%) or more of the total voting power of the Corporation, and (A) a majority of the members of the board of directors is replaced during the twelve (12)-month period following such acquisition, by directors whose appointment or election is
not endorsed by a majority of the Corporation’s board of directors prior to the date of the appointment or election; (B) the acquisition is the result of a merger or consolidation of the Corporation; or (C) the acquisition constitutes
more than ninety percent (90%) of the total voting power of the stock of the Corporation. If a person (or group) already owns at least fifty percent (50%) of the voting power, the acquisition of additional voting power does not trigger a Change in
Control of the Corporation under this paragraph unless and until the acquisition of additional stock reaches the threshold in (C) above. The change in board membership event is considered part of a Change in Control of the Corporation only when
there is no majority shareholder corporation. 
 (iii)    A person (or group) acquires, during a twelve
(12)-month period, assets that have a total gross fair market value (i.e. without regard to liabilities) of ninety percent (90%) or more of the total gross fair market value of all of the assets of the Corporation immediately prior to such
acquisition. However, such an event will not be a Change in Control of the Corporation under this paragraph if the transfer is to an entity that is controlled by the shareholders of the Corporation, such as: (i) a shareholder of the Corporation
in exchange for or with respect to the receiving of the other entity’s stock, (ii) an entity in which the Corporation owns fifty percent (50%) or more of the total fair market value or total voting power, (iii) a person (or group)
that owns directly or indirectly fifty percent (50%) or more of the total fair market value or total voting power of all of the outstanding stock of the Corporation; or (iv) an entity in which at least fifty percent (50%) of the total fair
market value or total voting power is owned directly or indirectly by a person that owns directly or indirectly fifty percent (50%) or more of the total fair market value or total voting power of all of the outstanding stock of the Corporation. 

The following interpretational provisions relate to the foregoing: 

  
 2 

 a.    The terms “person” and
“group” shall have the meanings set forth in Section 13(d) of the Securities Exchange Act of 1934 and the rules promulgated thereunder; provided that (I) persons will not be considered to be acting as a group solely because they
purchase or own stock of the Employer at the same time or as a result of the same public offering; and (II) persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation,
purchase or acquisition of stock, or similar business transaction, with the Corporation or the Bank. 

b.    The term “acquire” shall mean becoming, and the term “own”
shall mean being, the “beneficial owner” as defined in Rule 13d-3 of the Securities and Exchange Commission. 

c.    The formation of a holding company for the Bank as to which the beneficial owners
are substantially identical in proportion to their prior ownership of the Bank shall not be deemed a Change in Control of the Corporation. 

d.    The preceding events, when they occur with respect to the Bank (as if it were the
“Corporation” in the preceding subparagraphs) shall be deemed to be a Change in Control of the Corporation so long as the Corporation owns at least fifty percent (50%) or more of the total voting power of the Bank. 

 

	 	(c)	 Code. “Code” shall mean the Internal Revenue Code of 1986, as amended and the regulations
issued thereunder. 

  

	 	(d)	 Date of Termination. “Date of Termination” shall mean (i) if the Executive’s
employment with the Employers is terminated for Cause, the date on which the Notice of Termination is given, and (ii) if the Executive’s employment with the Employers is terminated for any other reason, the date specified in the
Notice of Termination. Notwithstanding anything to the contrary, the Date of Termination shall be a “separation from service” with the Employers within the meaning of Code Section 409A and shall only occur when the Executive
terminates employment with both the Corporation and the Bank and their subsidiaries, affiliates, and successors. 

  

	 	(e)	 Disability. Termination by the Employers of the Executive’s employment with the Employers based
on “Disability” shall mean the Executive is either (1) 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 can be
expected to last for a continuous period of not less than twelve (12) months, or (2) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a
continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Employers (or any subsidiary).

  

	 	(f)	 Good Reason. Termination by the Executive of the Executive’s employment with the Employers for
“Good Reason” shall mean termination by the Executive following a Change in Control of the Corporation, provided that the Employers have not remedied the condition specified in the Notice of Termination provided by the Executive within the
thirty (30) day or more period specified in the Notice of Termination, based on the occurrence of one of the following events: 

  
 3 

	 	(i)	 Without the Executive’s express written consent, either Employer makes a material adverse change in the
Executive’s functions, duties or responsibilities with that Employer; 

  

	 	(ii)	 Without the Executive’s express written consent, the Bank makes a material reduction in the
Executive’s base salary with the Bank as the same may be increased from time to time or makes a material reduction in the package of fringe benefits provided to the Executive by the Bank, taken as a whole; 

 

	 	(iii)	 Without the Executive’s express written consent, either Employer requires the Executive to work in an
office which is more than 30 miles from the location of the Employer’s current principal executive office, except for required travel on business of the Employers to an extent substantially consistent with the Executive’s present business
travel obligations; 

  

	 	(iv)	 The Employers purport to terminate the Executive’s employment for Disability or Retirement, which is
not effected pursuant to a Notice of Termination satisfying the requirements of paragraph (h) below; or 

  

	 	(v)	 Either Employer fails to obtain the assumption of and agreement to perform this Agreement by any successor
as contemplated in Section 6 hereof. 

  

	 	(g)	 IRS. IRS shall mean the Internal Revenue Service. 

 

	 	(h)	 Notice of Termination. Any purported termination of the Executive’s employment by the Employers
for any reason, including without limitation for Cause, Disability or Retirement, or by the Executive for any reason, including without limitation for Good Reason, shall be communicated by written “Notice of Termination” to the other party
hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a dated notice which (i) indicates the specific termination provision in this Agreement relied upon; (ii) sets forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated; (iii) specifies a Date of Termination, which shall be not less than thirty (30) nor more than ninety
(90) days after such Notice of Termination is given, except in the case of the Employers’ termination of the Executive’s employment for Cause, which shall be effective immediately; (iv) is given in the manner specified in
Section 7 hereof; and (v) with respect to a Notice of Termination by the Executive for Good Reason, the notice shall be provided within ninety (90) days of the initial existence of Good Reason condition, and the Employers shall be
provided a period of at least thirty (30) days to remedy the Good Reason condition. 

  

	 	(i)	 Retirement. “Retirement” shall mean voluntary termination by the Executive of
Executive’s employment with the Employers in accordance with the Employers’ retirement policies, including early retirement, generally applicable to the Employers’ salaried employees. 

2.        Benefits Upon Termination. If the Executive’s employment
with the Employers shall be terminated subsequent to a Change in Control of the Corporation and during the term of this Agreement by (i) the Employers for any reason other than Cause, Disability, or the Executive’s death or (ii) the
Executive for Good Reason, then the Bank shall: 

  
 4 

 (a)    pay to the Executive in a lump sum on the Date of
Termination an amount equal to twelve (12) months of the Executive’s then current monthly base salary;  

(b)    maintain and provide for a period ending twelve (12) months from the Date of Termination, at
no greater cost to the Executive than Executive is paying as of the Date of Termination, the Executive’s continued participation in all group health insurance plans offered by the Bank in which the Executive was entitled to participate
immediately prior to the Date of Termination. In the event that the Bank is unable to provide the benefits set forth in this subparagraph (b) due to the change in Executive’s status to that of a
non-employee, the Bank shall include in the lump sum payment due pursuant to the terms of Section 2(a) the Bank’s premium cost for active employee coverage under the benefits required to be provided
by this subparagraph (b), payable on the Date of Termination. To the extent the benefits described in this Section 2(b) would trigger the penalty tax and interest penalties under Section 409A or 105(h) of the Code, then the benefit(s) that
would trigger the tax and interest penalties shall not be provided, and in lieu of such benefit(s) a lump sum cash payment equal to the present value of such benefit(s) will be provided to the Executive, payable on the Date of Termination. 

3.        IRC Section 280G. If the payments and
benefits pursuant to Section 2 hereof, either alone or together with other payments and benefits which the Executive has the right to receive from the Employers, would constitute a “parachute payment” under Section 280G of the
Code, the benefits or payments payable by the Bank pursuant to Section 2(b) hereof then followed by the cash payments payable by the Bank pursuant to Section 2(a) hereof shall be reduced, by the amount, if any, which is the minimum
necessary to result in no portion of the payments and benefits payable by the Bank under Section 2 being non-deductible to the Bank pursuant to Section 280G of the Code and subject the Executive to
the excise tax imposed under Section 4999 of the Code. The determination of any reduction in the payments and benefits to be made pursuant to Section 2 shall be based upon the opinion of independent counsel selected by the
Employers’ independent public accountants and paid by the Employers. Such counsel shall be reasonably acceptable to the Employers and the Executive; shall promptly prepare the foregoing opinion, but in no event later than thirty (30) days
from the Date of Termination; and may use such actuaries as such counsel deems necessary or advisable for the purpose. Nothing contained herein shall result in a reduction of any payments or benefits to which the Executive may be entitled upon
termination of employment under any circumstances other than as specified in this Section 3, or a reduction in the payments and benefits specified in Section 2 below zero. 

4.        Mitigation; Exclusivity of Benefits. 

(a)        The Executive shall not be required to mitigate the amount of any benefits
hereunder, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise. 

(b)        The specific arrangements referred to herein are not intended to exclude
any other benefits which may be available to the Executive upon a termination of employment with the Employers pursuant to employee benefit plans of the Employers or otherwise. 

5.        Withholding. All payments required to be made by the Employers
hereunder to the Executive shall be subject to the withholding of such amounts, if any, relating to tax and other payroll deductions as the Employers may reasonably determine should be withheld pursuant to any applicable law or regulation. 

6.        Assignability. The Employers may assign this Agreement and
their rights and obligations hereunder in whole, but not in part, to any corporation, bank, savings association or other 

  
 5 

 
entity with or into which either of the Employers may hereafter merge or consolidate or to which either of the Employers may transfer all or substantially all of its respective assets, if in any
such case said corporation, bank or other entity shall by operation of law or expressly in writing assume all obligations of the Employers hereunder as fully as if it had been originally made a party hereto, but may not otherwise assign this
Agreement or their rights and obligations hereunder. The Executive may not assign or transfer this Agreement or any rights or obligations hereunder. 

7.        Notice. For the purposes of this Agreement, notices and all
other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered or mailed by certified or registered mail, return receipt requested, postage prepaid, addressed to the respective
addresses set forth below: 
 To the Corporation: 

           Silvergate Capital Corporation 

           4250 Executive Square, Suite 300 

           La Jolla, CA 92037 

To the Bank: 

           Silvergate Bank 

           4250 Executive Square, Suite 300 

           La Jolla, CA 92037 

To the Executive: 

           At Executive’s address as set forth in the employment
records of the Bank. 
 8.        Amendment; Waiver. No provisions of
this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and such officer or officers as may be specifically designated by the Boards of Directors of the
Employers to sign on their behalf. No waiver by any party hereto at any time of any breach by any other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of
similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

9.        Governing Law. The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of the United States where applicable and otherwise by the substantive laws of the State of California. 

10.        Nature of Employment and Obligations. 

(a)        Nothing contained herein shall be deemed to create other than a terminable
at will employment relationship between the Employers and the Executive, and the Employers may terminate the Executive’s employment at any time, subject to providing any payments specified herein in accordance with the terms hereof. 

(b)        Nothing contained herein shall create or require the Employers to create a
trust of any kind to fund any benefits which may be payable hereunder, and to the extent that the Executive acquires a right to receive benefits from the Employers hereunder, such right shall be no greater than the right of any unsecured general
creditor of the Employers. 
 11.        Term of Agreement. This
Agreement shall commence on the date of this Agreement and this Agreement shall terminate one (1) year after a Change in Control of the Corporation, or upon the termination of the Executive’s employment with the Bank (without prejudice to
the rights 

  
 6 

 
of the Executive under this Agreement, if any, related to such termination if such termination occurs after a Change in Control of the Corporation). This Agreement may not be terminated prior to
or subsequent to a Change in Control without the Executive’s consent. 

12.        Headings. The section headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

13.        Validity. The invalidity or unenforceability of any provision
of this Agreement shall not affect the validity or enforceability of any other provisions of this Agreement, which shall remain in full force and effect. 

14.        Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. 

15.        Regulatory Prohibition. The Parties acknowledge and agree
that entry into this Agreement is and payment of severance under Section 2 of this Agreement may be subject to receipt of approval from the FRB pursuant to Section 1828(k) and Part 359 of the FDIC Rules and Regulations and the CDBO. If
such approval is not obtained or is subject to modifications specified by the FRB or the CDBO the parties agree to negotiate in good faith to amend this Agreement to provide for substantially equivalent terms consistent with regulatory requirements
and Code Section 409A. 
 16.        Arbitration. Any dispute,
controversy or claim arising out of or relating to this Agreement or the breach thereof, shall be submitted to and finally settled by arbitration in accordance with the Commercial Arbitration Rules (the “Rules”) of the American Arbitration
Association (the “AAA”) then in effect before a panel of three arbitrators selected by the Bank. Arbitration shall occur in La Jolla, California or such other location as may be mutually agreed to by the parties. 

The award made by all or a majority of the panel of arbitrators shall be final and binding, and judgment may be entered based upon such award
in any court of law having competent jurisdiction. The award is subject to confirmation, modification, correction or vacation only as explicitly provided in Title 9 of the United States Code. The prevailing party shall be entitled to receive any
award of pre- and post-award interest as well as attorney’s fees incurred in connection with the arbitration and any judicial proceedings related thereto. The parties acknowledge that this Agreement
evidences a transaction involving interstate commerce. The United States Arbitration Act and the Rules shall govern the interpretation, enforcement, and proceedings pursuant to this Section. Any provisional remedy which would be available from a
court of law shall be available from the arbitrators to the parties to this Agreement pending arbitration. Either party may make an application to the arbitrators seeking injunctive relief to maintain the status quo, or may seek from a court of
competent jurisdiction any interim or provisional relief that may be necessary to protect the rights and property of that party, until such times as the arbitration award is rendered or the controversy otherwise resolved. 

17.        Entire Agreement. This Agreement embodies the entire
agreement between the Employers and the Executive with respect to the matters agreed to herein. All prior agreements between the Employers and the Executive with respect to the matters agreed to herein are hereby superseded and shall have no force
or effect. 
 18.        Code Section 409A.
Although the Employers do not guarantee to the Executive any particular tax treatment relating to the payments and benefits under this Agreement, it is intended 

  
 7 

 
that such payments and benefits be exempt from, or comply with, Section 409A of the Code. The terms of this Agreement when subject to more than one interpretation shall always be interpreted
in a manner that complies with the requirements of Code Section 409A and the formal guidance issued thereunder. Notwithstanding anything to the contrary, in the event that the Board of Directors of the Bank and the Corporation determine, after
a review of Section 409A of the Code and all applicable IRS guidance, that this Agreement should be amended to comply with Section 409A of the Code then the Employers may amend this Agreement to make any changes required to comply with
Section 409A of the Code. With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Code Section 409A, (i) the right
to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit; (ii) the amount of expenses eligible for reimbursement, or
in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable
year; and (iii) such payments shall be made on or before the last day of the Executive’s taxable year following the taxable year in which the expense was incurred. If the Executive is deemed on the Date of Termination to be a
“specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment that is considered non-qualified deferred compensation under Code
Section 409A payable on account of a “separation from service,” such payment or benefit shall be made or provided at the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of such
“separation from service” of the Executive, and (B) the date of the Executive’s death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Paragraph (whether
they would have otherwise been payable in a single sum or in installments in the absence of such delay), shall be paid or reimbursed to the Executive in a lump sum and any remaining payments and benefits due under this Agreement shall be paid or
provided in accordance with the normal payment dates specified for them herein. 

  
 8 

 IN WITNESS WHEREOF, this Agreement has been executed as of the date first above written.

 THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH MAY BE ENFORCED BY THE PARTIES. 

 

							
	 Attest:
	 	         
	 	 SILVERGATE CAPITAL CORPORATION

				
	 /s/ John M. Bonino
	 		 	 By
	 	 /s/ Robert C. Campbell

		 		 		 	           Robert C. Campbell, Lead Director

				
	 Attest:
	 		 		 	 SILVERGATE BANK

				
	 /s/ John M. Bonino
	 		 	 By
	 	 /s/ Alan J. Lane

		 		 		 	           Alan J. Lane, Chief Executive Officer

				
	 Attest:
	 		 		 	 EXECUTIVE

				
	 /s/ Kathleen Fraher
	 		 	 By
	 	 /s/ Dennis S. Frank

		 		 		 	           Dennis S. Frank

  
 9

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