Document:

EX-4.3

 Exhibit 4.3 

BANC OF CALIFORNIA, INC., 

as Issuer 
 and 

U.S. BANK NATIONAL ASSOCIATION, 

as Trustee 
 First
Supplemental Indenture 
 Dated as of May 21, 2014 

Supplement to Indenture of Banc of California, Inc. 

dated as of May 21, 2014 

 TABLE OF CONTENTS 
  

					
	 ARTICLE 1 DEFINITIONS
	  	 	2	  
	 Section 1.01 Definition of Terms
	  	 	2	  
	 Section 1.02 Establishment of New Series
	  	 	4	  
		
	 ARTICLE 2 GENERAL TERMS AND CONDITIONS OF THE NOTES
	  	 	4	  
	 Section 2.01 Designation, Principal Amount and Original Issuance
	  	 	4	  
	 Section 2.02 Form, Payment and Appointment
	  	 	4	  
	 Section 2.03 Installment Payments
	  	 	5	  
	 Section 2.04 Discharge and Defeasance
	  	 	7	  
	 Section 2.05 No Sinking Fund
	  	 	7	  
		
	 ARTICLE 3 REDEMPTION
	  	 	7	  
	 Section 3.01 Redemption
	  	 	7	  
		
	 ARTICLE 4 FORM OF NOTE
	  	 	7	  
	 Section 4.01 Form of Note
	  	 	7	  
		
	 ARTICLE 5 DEFAULTS
	  	 	7	  
	 Section 5.01 Events of Default
	  	 	7	  
		
	 ARTICLE 6 TAX TREATMENT
	  	 	8	  
	 Section 6.01 Tax Treatment
	  	 	8	  
		
	 ARTICLE 7 SUBORDINATION
	  	 	8	  
	 Section 7.01 Subordination
	  	 	8	  
		
	 ARTICLE 8 MISCELLANEOUS
	  	 	8	  
	 Section 8.01 Ratification of Indenture
	  	 	8	  
	 Section 8.02 Trustee Not Responsible for Recitals
	  	 	8	  
	 Section 8.03 New York Law to Govern; Waiver of Jury Trial
	  	 	8	  
	 Section 8.04 Separability
	  	 	8	  
	 Section 8.05 Counterparts
	  	 	8	  
	 Section 8.06 Amendments, Supplements and Waivers
	  	 	8	  
		
	 ARTICLE 9 REPURCHASE OF NOTES AT THE OPTION OF THE HOLDER
	  	 	9	  
	 Section 9.01 Offer to Repurchase
	  	 	9	  
	 Section 9.02 Early Mandatory Settlement Notice
	  	 	9	  
	 Section 9.03 Procedures for Exercise
	  	 	9	  
	 Section 9.04 Withdrawal of Repurchase Notice
	  	 	9	  
	 Section 9.05 Effect of Repurchase
	  	 	9	  
		
	 Exhibit A — Form of Note
	  			

  
 i 

 FIRST SUPPLEMENTAL INDENTURE, dated as of May 21, 2014 (this “First
Supplemental Indenture”), between BANC OF CALIFORNIA, INC., a Maryland corporation (the “Company,” which term includes any successor as permitted in accordance with the terms of the Indenture hereafter referred to), and
U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as trustee (the “Trustee”) under the Indenture, dated as of May 21, 2014, between the Company and the Trustee (the “Base Indenture,” and
the Base Indenture, as supplemented by this First Supplemental Indenture, the “Indenture”). 
 W I T N E S S E T H 

WHEREAS, the Company has duly authorized the execution and delivery of the Base Indenture, to provide for the issuance from
time to time of its unsecured junior subordinated debentures, notes or other evidences of indebtedness to be issued in one or more series (the “Securities”), as provided in the Base Indenture, up to such principal amount or amounts
as may from time to time be authorized in accordance with the terms thereof; 
 WHEREAS, pursuant to the terms of the Base
Indenture, the Company desires to provide for the establishment of a new series of its Securities to be known as its “7.50% Junior Subordinated Amortizing Notes due May 15, 2017,” the form of such Securities and the terms, provisions
and conditions thereof to be set forth as provided in this First Supplemental Indenture; 
 WHEREAS, the Company has
requested that the Trustee execute and deliver this First Supplemental Indenture; 
 WHEREAS, all requirements necessary to
make this First Supplemental Indenture a valid, binding and enforceable instrument in accordance with its terms, and to make the Notes, when executed, authenticated and delivered by the Company, the valid, binding and enforceable obligations of the
Company, have been done and performed; and 
 WHEREAS, the execution and delivery of this First Supplemental Indenture has
been duly authorized in all respects by a Board Resolution of the Company. 
 NOW THEREFORE, in consideration of the
purchase and acceptance of the Notes by the Holders thereof, and for the purpose of setting forth, as provided in the Base Indenture, the form and terms of the Notes, the Company covenants and agrees with the Trustee as follows: 

ARTICLE 1 
 DEFINITIONS 

Section 1.01  Definition of Terms. Unless the context otherwise requires (including for purposes of the Recitals): 

(a)  a term defined in the Base Indenture has the same meaning when used in this First Supplemental Indenture unless otherwise
specified herein; 
 (b)  a term defined anywhere in this First Supplemental Indenture has the same meaning throughout; 

(c)  the definition of any term in this First Supplemental Indenture that is also defined in the Base Indenture shall for the
purposes of this First Supplemental Indenture supersede the definition of such term in the Base Indenture; 
 (d)  the definition
of a term in this First Supplemental Indenture is not intended to have any effect on the meaning or definition of an identical term that is defined in the Base Indenture insofar as the use or effect of such term in the Base Indenture, as previously
defined, is concerned; 
 (e)  the singular includes the plural and vice versa; 

  
 2 

 (f)  headings are for convenience of reference only and do not affect interpretation;
and 
 (g)  the following terms have the meanings given to them in this Section 1.01(g): 

“Applicable Procedures” means, with respect to any matter at any time, the policies and procedures of a
Depositary, if any, that are applicable to such matter at such time. 
 “Base Indenture” shall have the
meaning set forth in the first paragraph of this First Supplemental Indenture. 
 “Certificated Notes”
shall have the meaning set forth in Section 9.03(a). 
 “Company” shall have the meaning set forth in
the first paragraph of this First Supplemental Indenture. 
 “Early Mandatory Settlement Date” shall have
the meaning set forth in the Purchase Contract Agreement. 
 “Early Mandatory Settlement Notice” shall have
the meaning set forth in the Purchase Contract Agreement. 
 “Early Mandatory Settlement Notice Date” shall
have the meaning set forth in the Purchase Contract Agreement. 
 “Early Mandatory Settlement Right” shall
have the meaning set forth in the Purchase Contract Agreement. 
 “Early Settlement” shall have the meaning
set forth in the Purchase Contract Agreement. 
 “Extension Period” shall have the meaning set forth in
Section 2.03(c)(i). 
 “Fundamental Change” shall have the meaning set forth in the Purchase Contract
Agreement. 
 “Global Note” shall have the meaning set forth in Section 2.02. 

“Holder” means a holder of Notes, unless otherwise indicated. 

“Indenture” shall have the meaning set forth in the first paragraph of this First Supplemental Indenture.

 “Installment Payment Date” means each May 15, August 15, November 15 and
February 15, commencing on August 15, 2014. 
 “Installment Payment Period” means the period
from, and including, the Issue Date to, but excluding, the first Installment Payment Date and each subsequent full quarterly period from, and including, an Installment Payment Date to, but excluding, the immediately succeeding Installment Payment
Date. 
 “Issue Date” means May 21, 2014. 

“Note” and “Notes” shall have the respective meanings set forth in Section 2.01. 

“Paying Agent” shall initially mean the Trustee. 

“Prospectus Supplement” means the Prospectus Supplement dated May 15, 2014, related to the Units. 

“Purchase Contract Agreement” means the Purchase Contract Agreement, dated as of May 21, 2014, among the
Company, U.S. Bank National Association, as purchase contract agent, and U.S. Bank National Association, as Trustee under the Indenture. 

“Purchase Contracts” shall have the meaning set forth in the Purchase Contract Agreement. 

  
 3 

 “Registrar” shall initially mean the Trustee. 

“Regular Record Date” shall mean the close of business on the Business Day immediately preceding the related
Installment Payment Date or, if the Notes do not remain in book-entry form, a date selected by the Company, which shall be more than 14 days but less than 60 days prior to the relevant Installment Payment Date. 

“Repurchase Date” means a date specified by the Company in the Early Mandatory Settlement Notice sent to
holders, which date shall be at least 5 but no more than 30 Business Days following the Early Mandatory Settlement Notice Date. 

“Repurchase Notice” means a notice in the form entitled “Form of Repurchase Notice” on the reverse
side of the Notes. 
 “Repurchase Price” means with respect to a Note to be repurchased pursuant to Article
9, an amount equal to the principal amount of such Note as of the Repurchase Date, plus accrued and unpaid interest, if any, on such principal amount from, and including, the immediately preceding Installment Payment Date (or, if none, from, and
including, the Issue Date) to, but not including, such Repurchase Date, calculated at an annual rate of 7.50%; provided that, if the Repurchase Date falls after a Regular Record Date and on or prior to the immediately succeeding Installment Payment
Date, the Installment Payment payable on such Installment Payment Date will be paid on such Installment Payment Date to the Holder on such Regular Record Date and shall not be included in the Repurchase Price per Note. 

“Repurchase Right” has the meaning ascribed to it in Section 9.01. “Securities” shall have the
meaning set forth in the first recital of this First Supplemental Indenture. 
 “Trustee” shall have the
meaning set forth in the first paragraph of this First Supplemental Indenture. 
 “Unit” shall have the
meaning set forth in the Purchase Contract Agreement. 
 Section 1.02  Establishment of New Series. Pursuant to
Section 301 of the Base Indenture, there is hereby established the Notes having the terms set forth in the Base Indenture as supplemented, amended or replaced by the terms of this First Supplemental Indenture and as set forth in the form of
Note attached to this First Supplemental Indenture as Exhibit A, which is incorporated herein as a part of this First Supplemental Indenture. 

ARTICLE 2 
 GENERAL TERMS AND
CONDITIONS OF THE NOTES 
 Section 2.01  Designation, Principal Amount and Original Issuance. There is hereby
authorized a series of Securities designated as the 7.50% Junior Subordinated Amortizing Notes due 2017 (the “Notes,” and “Note” means each note of such series having an initial principal amount of $10.604556)
limited in aggregate initial principal amount to $14,634,287, except for Notes authenticated and delivered upon registration of transfer of, in exchange for, or in lieu of, other Notes pursuant to Section 304, 305, 306, 906 or 1107 of the Base
Indenture. The Notes, upon execution of this First Supplemental Indenture, shall be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Notes in accordance with an
Officers’ Certificate. 
 Section 2.02  Form, Payment and Appointment. The Notes will initially be issued in the
form of one or more Registered Securities in fully registered, permanent global form (each, a “Global Note”), and deposited with the Trustee as custodian for the Depositary, which shall be DTC or such other depositary as any Officer
of the Company may from time to time designate, and the Global Note shall be registered in the name of the Depositary. Unless and until such Global Note is exchanged for Notes in registered form, Global Notes may be transferred, in whole or in part,
only to the Depositary or a nominee of the Depositary, or to a successor Depositary selected or approved by the Company or to a nominee of such successor Depositary. 

  
 4 

 Installments on the Notes will be payable, the transfer of such Notes will be
registrable and such Notes will be exchangeable for Notes of a like aggregate principal amount bearing identical terms and provisions at the office or agency of the Company maintained for such purpose in New York, New York, which shall initially be
the Corporate Trust Office of the Trustee. 
 The Registrar and Paying Agent for the Notes shall initially be the Trustee. 

The Notes shall be issuable in denominations of one Note and integral multiples in excess thereof. 

Section 2.03  Installment Payments. 

(a)  Installment Payment Dates. On each Installment Payment Date, other than the Installment Payment Date occurring on
August 15, 2014, the Company shall pay, in cash, equal quarterly installment payments of $1.00 on each Note, subject to the Company’s right to extend the Installment Payment Period at any time and from time to time under the circumstances,
and subject to the conditions, set forth in Section 2.03(c). On the Installment Payment Date occurring on August 15, 2014, the Company shall pay, in cash, a quarterly installment payment of $0.933333 on each Note, subject to the
Company’s right to extend such Installment Payment Period at any time and from time to time under the circumstances, and subject to the conditions, set forth in Section 2.03(c). 

(b)  Installment Payment Amount. Each installment payment shall constitute a payment of interest (at a rate of 7.50% per
annum) and a partial repayment of principal on the Note, allocated as set forth in the schedule below. 
  

							
	Scheduled Installment Payment Date	 	Amount of Principal	 	 	 	  Amount of Interest  
	 August 15, 2014
	 	$0.747754	 		 	$0.185579
	 November 15, 2014
	 	$0.815185	 		 	$0.184815
	 February 15, 2015
	 	$0.830470	 		 	$0.169530
	 May 15, 2015
	 	$0.846041	 		 	$0.153959
	 August 15, 2015
	 	$0.861904	 		 	$0.138096
	 November 15, 2015
	 	$0.878065	 		 	$0.121935
	 February 15, 2016
	 	$0.894529	 		 	$0.105471
	 May 15, 2016
	 	$0.911301	 		 	$0.088699
	 August 15, 2016
	 	$0.928388	 		 	$0.071612
	 November 15, 2016
	 	$0.945795	 		 	$0.054205
	 February 15, 2017
	 	$0.963529	 		 	$0.036471
	 May 15, 2017
	 	$0.981595	 		 	$0.018405

 Each installment payment in respect of the Notes shall be treated, for purposes of the Base
Indenture and this Supplemental Indenture, as a partial payment of principal and a payment of interest, in each case, in an amount equal to the relevant amount set forth under the heading “Amount of Principal” and the heading “Amount
of Interest” in the table above. 
 Each installment payment for any Installment Payment Period shall be computed by
the Company on the basis of a 360-day year of twelve 30-day months. If an installment payment is payable for any period shorter than a full Installment Payment Period, such installment payment shall be computed on the basis of the actual number of
days elapsed per 30-day month. Furthermore, if any date on which an installment payment is payable is not a Business Day, then the installment payment on such date will be made on the next succeeding day that is a Business Day, and without any
interest or other payment in respect of any such delay. However, if such Business Day is in the next succeeding calendar year, then such installment payment shall be made on the immediately preceding Business Day, in each case with the same force
and effect as if made on such date. 
 (c)  Option To Extend Installment Payment Period. 

(i)  The Company may defer installment payments, at any time and from time to time, by extending the Installment
Payment Period, so long as such period of time does not extend beyond May 15, 2019 (the “Extension Period”). The Company may end an Extension Period on any Installment Payment 

  
 5 

 
Date occurring on or before May 15, 2017 or, in the case of an Extension Period that extends beyond May 15, 2017, on any Business Day thereafter that is on or before May 15, 2019.

 (ii)  At the end of any Extension Period, the Company shall pay all installment payments for which the related
Installment Payment Date occurred during such Extension Period, together with interest on the full amount of such installment payments compounded quarterly at the rate of 7.50% per annum, to the extent permitted by applicable law. The Company
shall give holders of Units and Holders of Notes at least 10 Business Days’ notice prior to the end of an Extension Period. 

(iii)  Prior to the termination of any Extension Period, the Company may further defer installment payments by
extending such Extension Period. Such Extension Period, including all such previous and further extensions, may not extend beyond May 15, 2019. Upon the termination of any Extension Period and the payment of all amounts then due, the Company
may commence a new Extension Period, if consistent with the terms set forth in this Section 2.03(c). No installment payment (or interest thereon) shall be due and payable during an Extension Period. 

(iv)  The Company shall give the holders of Units, Holders of Notes and the Trustee notice of its election of an
Extension Period (or any extension thereof) at least 10 Business Days prior to the earlier of (x) the next succeeding Installment Payment Date; or (y) the date upon which the Company is required to give notice to Holders of Notes of the
Regular Record Date or Installment Payment Date. 
 (d)  Restrictions Applicable During an Extension Period and Certain Other
Circumstances. 
 (i)  If (x) there shall have occurred and be continuing an Event of Default or
(y) the Company shall have given notice of its election to defer installment payments on the Notes by extending the Installment Payment Period, and such Installment Payment Period, or any extension of such Installment Payment Period, shall be
continuing, then: 
 (A)  the Company and its Subsidiaries shall not declare or pay any dividend on, make any
distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to, any of the Company’s capital stock or make any guarantee payment with respect thereto other than: 

(1)  purchases, redemptions or other acquisitions of shares of capital stock of the Company in connection with any
employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants; 

(2)  purchases of shares of the Company’s common stock pursuant to a contractually binding requirement to buy
stock existing prior to the commencement of the Extension Period, including under a contractually binding stock repurchase plan; 

(3)  as a result of an exchange or conversion of any class or series of the Company’s capital stock for any
other class or series of the Company’s capital stock; 
 (4)  the purchase of fractional interests in shares
of the Company’s capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged; or 

(5)  purchases of the Company’s capital stock in connection with the distribution thereof; and 

(B)  the Company and its Subsidiaries shall not make any payment of interest or principal on, or repay, purchase or
redeem, any unsecured debt securities or guarantees issued by the Company that rank equally with or junior to the Notes other than pro rata payments of accrued and unpaid interest on the Notes and any other unsecured debt securities or
guarantees issued by 

  
 6 

 
the Company that rank equally with the Notes, except and to the extent the terms of any such debt securities would prohibit the Company from making such pro rata payment. 

These foregoing restrictions shall not apply to any stock dividends paid by the Company where the dividend stock is the same stock as, or
junior to, that stock on which the dividend is being paid. 
 Section 2.04  Discharge and Defeasance. For the
avoidance of doubt, the provisions of Articles Four (Satisfaction and Discharge) and Fourteen (Defeasance and Covenant Defeasance) of the Base Indenture shall apply to the Notes. 

Section 2.05  No Sinking Fund. The Notes are not entitled to the benefit of any sinking fund. 

ARTICLE 3 
 REDEMPTION 

Section 3.01  Redemption. Article Eleven of the Base Indenture (Redemption) shall not apply to the Notes. 

ARTICLE 4 
 FORM OF NOTE 

Section 4.01  Form of Note. The Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to
be substantially in the forms attached as Exhibit A hereto, with such changes therein as the Officers of the Company executing the Notes (by manual, facsimile, pdf or other electronically transmitted signature) may approve, such approval to be
conclusively evidenced by their execution thereof. 
 ARTICLE 5 

DEFAULTS 

Section 5.01  Events of Default. 

(a)  In addition to the Events of Default set forth in Section 501(4), Section 501(5) and Section 501(6) of the Base
Indenture, it shall be an “Event of Default” with respect to the Notes if there is a default in the payment in full of (i) all deferred installment payments on the Notes on or by May 15, 2019 or (ii) the Repurchase Price of
any Note if and when due on a Repurchase Date, and in each case, such default in payment continues for a period of 30 days. 

(b)  The Events of Default specified in Section 501(1), Section 501(2) and Section 501(3) of the Base Indenture shall
not apply with respect to the Notes. 
 (c)  There is no right of acceleration upon the occurrence of the additional Event of
Default described in clause (a) of this Section 5.01 or, for the avoidance of doubt, as described in Section 501(4) of the Base Indenture. In addition, any deferral of installment payments made in accordance with the provisions of
Section 2.03(c) shall not constitute an Event of Default or a default in the related payment obligation hereunder. 
 (d)  In
the case of the additional Event of Default described in Section 5.01(a) above, then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount that then shall have become due
and payable on all such Notes for principal, premium, if any, or interest, or any combination thereof, or for the Repurchase Price, as the case may be, with interest upon the overdue principal and (to the extent that payment of such interest is
enforceable under applicable law) upon the overdue installments of interest, at the rate borne by the Notes; and, in addition, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents, attorneys and counsel. If the Company does not pay such amounts upon such demand, the Trustee shall be entitled and empowered to institute any actions or proceeding at
law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and 

  
 7 

 
may enforce any such judgment or final decree against the Company or any other obligor on the Notes and collect in the manner provided by law out of the property of the Company or any other
obligor on the Notes, wherever situated, the money adjudged or decreed to be payable. The first two paragraphs of Section 503 of the Base Indenture will not apply to the Notes. 

ARTICLE 6 
 TAX TREATMENT 

Section 6.01  Tax Treatment. The Company and each Holder agrees, and by acceptance of a beneficial ownership interest in
the Notes, each beneficial owner of a beneficial ownership interest in the Notes will be deemed to have agreed, for U.S. federal, state and local tax purposes, to treat the Notes as indebtedness of the Company. 

ARTICLE 7 
 SUBORDINATION 

Section 7.01  Subordination. The provisions of Article Seventeen of the Base Indenture (Subordination) shall apply to
the Notes. 
 ARTICLE 8 

MISCELLANEOUS 

Section 8.01  Ratification of Indenture. The Indenture, as supplemented by this First Supplemental Indenture, is in all
respects ratified and confirmed, and this First Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. 

Section 8.02  Trustee Not Responsible for Recitals. The recitals contained herein and in the Notes (except the
Trustee’s certificate of authentication) shall be taken as statements of the Company and not of the Trustee and the Trustee assumes no responsibility for the correctness of the same. Neither the Trustee nor any of its agents (a) makes any
representation as to the validity or adequacy of this First Supplemental Indenture or the Notes or (b) shall be accountable for the Company’s use or application of the proceeds from the Notes. 

Section 8.03  New York Law to Govern; Waiver of Jury Trial. THIS FIRST SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THIS FIRST SUPPLEMENTAL INDENTURE IS SUBJECT TO THE PROVISIONS OF THE TIA THAT ARE REQUIRED TO BE PART OF THIS FIRST SUPPLEMENTAL INDENTURE AND SHALL, TO THE EXTENT
APPLICABLE, BE GOVERNED BY SUCH PROVISIONS. EACH OF THE COMPANY AND THE TRUSTEE, AND EACH HOLDER OF A SECURITY BY ITS ACCEPTANCE THEREOF, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT IT MAY HAVE TO
TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

Section 8.04  Separability. In case any provision in this First Supplemental Indenture or in the Notes shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 8.05  Counterparts. This First Supplemental Indenture may be executed in any number of counterparts, each of
which shall be an original, but such counterparts shall together constitute one and the same instrument. 

Section 8.06  Amendments, Supplements and Waivers. In addition to the circumstances set forth in Section 901 of the
Base Indenture, the Company and the Trustee may amend or supplement the Base Indenture, this First Supplemental Indenture or the Notes without notice to or the consent of any Holder (a) to conform the provisions of the Base Indenture, this
First Supplemental Indenture or the Notes to the “Description of the Amortizing Notes” section of the Prospectus Supplement or (b) in the event that the Company has waived or removed from the 

  
 8 

 
Purchase Contract Agreement its rights to settle the Purchase Contracts early as described in Section 5.05 of the Purchase Contract Agreement, to remove the right of the Holders of the Notes
to require the Company to repurchase such Notes as described in Article 9 of this First Supplemental Indenture. 
 ARTICLE 9 

REPURCHASE OF NOTES AT THE OPTION OF THE HOLDER 

Section 9.01  Offer to Repurchase. If the Company elects to exercise its Early Mandatory Settlement Right with respect
to the Purchase Contracts, then each Holder of Notes (whether or not such Note is a component of a Unit) shall have the right (the “Repurchase Right”) to require the Company to repurchase some or all of its Notes for cash at the
Repurchase Price per Note to be repurchased on the Repurchase Date, pursuant to Section 9.03. The Company shall not be required to repurchase a portion of a Note. 

Section 9.02  Early Mandatory Settlement Notice. If the Company elects to exercise its Early Mandatory Settlement Right
in respect of the Purchase Contracts pursuant to the terms of the Purchase Contract Agreement, the Company shall provide the Trustee and the Holders of the Notes with a copy of the Early Mandatory Settlement Notice delivered pursuant to the Purchase
Contract Agreement. 
 Section 9.03  Procedures for Exercise. 

(a)  To exercise the Repurchase Right, a Holder must deliver, at or prior to the close of business on the Business Day immediately
preceding the Repurchase Date, the Notes to be repurchased (or the Units if the relevant Notes have not been separated from the Units into their constituent components) to the Trustee, together with a duly completed written Repurchase Notice, in
each case in accordance with the Applicable Procedures, unless the Notes are in definitive form (“Certificated Notes”) (or the Units are not in global form, as the case may be), in which case such Holder must deliver the Notes to be
repurchased (or Units to be repurchased) to the Trustee, duly endorsed for transfer to the Company, together with a Repurchase Notice, to the Trustee. 

(b)  The Repurchase Notice must state the following: 

(i)  if Certificated Notes or Units have been issued, the certificate numbers of the Notes or Units, or if not
certificated, the Repurchase Notice must comply with the Applicable Procedures; 
 (ii)  the amount of Notes to be
repurchased; and 
 (iii)  that the Notes are to be repurchased by the Company pursuant to the applicable
provisions of the Notes and the Indenture. 
 Section 9.04  Withdrawal of Repurchase Notice. 

(a)  A Holder may withdraw any Repurchase Notice (in whole or in part) by a written, irrevocable notice of withdrawal delivered to
the Trustee prior to the close of business on the Business Day immediately preceding the Repurchase Date. 
 (b)  The Notice of
withdrawal must state the following: 
 (i)  the amount of Notes to be withdrawn; 

(ii)  if Certificated Notes or Units have been issued, the certificate numbers of the Notes or Units, as applicable,
or if not certificated, the notice of withdrawal must comply with the Applicable Procedures; and 
 (iii)  the
amount of Notes, if any, that remain subject to the Repurchase Notice. 
 Section 9.05  Effect of Repurchase. 

  
 9 

 (a)  The Company shall be required to repurchase the Notes with respect to which the
Repurchase Right has been exercised and not duly withdrawn. To effectuate such repurchase, the Company shall deposit immediately available funds with the Paying Agent on the later of (i) the Repurchase Date and (ii) the time of book-entry
transfer or delivery of the Notes or Units. 
 (b)  If the Paying Agent holds money on the Repurchase Date sufficient to pay the
Repurchase Price with respect to those Notes for which the Repurchase Right has been exercised, then (i) such Notes shall cease to be outstanding and interest shall cease to accrue thereon (whether or not book-entry transfer of the Notes or
Units, as applicable, is made or whether or not the Notes or Units, as applicable, are delivered as required herein), and (ii) all other rights of the Holder shall terminate (other than the right to receive the Repurchase Price and, if the
Repurchase Date falls between a Regular Record Date and the corresponding Installment Payment Date, the related Installment Payment); provided, however, that if the Repurchase Date falls after a Regular Record Date and on or prior to the immediately
succeeding Installment Payment Date, then the Installment Payment payable on such Installment Payment Date will be paid on such Installment Payment Date to the Holder as of the close of business on such Regular Record Date and shall not be included
in the Repurchase Price per note. 
 (c)  The Company shall, in connection with any repurchase offer pursuant to this Article 9,
if required by applicable provisions of the Exchange Act or SEC regulations thereunder, (i) comply with the provisions of the tender offer rules under the Exchange Act that may then be applicable, and (ii) file a Schedule TO or any other
required schedule under the Exchange Act. 
 (d)  Notwithstanding anything to the contrary herein, no Notes may be repurchased at
the option of Holders if the principal amount thereof has been accelerated, and such acceleration has not been rescinded, on or prior to the Repurchase Date (except in the case of an acceleration resulting from a Default by the Company in the
payment of the Repurchase Price with respect to such Notes). 
 [SIGNATURES ON THE FOLLOWING PAGES] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental
Indenture to be duly executed by their respective officers thereunto duly authorized, on the date or dates indicated in the acknowledgments and as of the day and year first above written. 

 

					
	BANC OF CALIFORNIA, INC.
		
	By:	 	 /s/ Steven A. Sugarman

		 	Name:	 	Steven A. Sugarman
		 	Title:	 	President and Chief Executive Officer
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ K. Wendy Kumar

		 	Name:	 	 K. Wendy Kumar

		 	Title:	 	Vice President

  
  

[Signature Page to First Supplemental Indenture] 

 EXHIBIT A 

[FORM OF FACE OF NOTE] 
 [INCLUDE
IF A GLOBAL NOTE] 
 [THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS GLOBAL NOTE IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY
TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 

UNLESS THIS GLOBAL NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY HAS AN INTEREST HEREIN.] 

  
 A-1 

 BANC OF CALIFORNIA, INC. 

7.50% JUNIOR SUBORDINATED AMORTIZING NOTES 

DUE MAY 15, 2017 
 REGISTERED

 CUSIP: 05990K AB2 

ISIN: US05990KAB26 
  

							
	No.                                   
                 	  		 	[Initial]1 Number of Notes

							
		 		  		 	  

 BANC OF CALIFORNIA, INC., a Maryland corporation (the “Company,” which term
includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the initial principal sum of $10.604556 for each of the number of Notes set
forth above[, or such other number of Notes as set forth in the Schedule of Increases or Decreases in Global Note attached hereto, which shall not exceed
[        ]]2 in quarterly installment payments (each constituting a payment of interest at the rate per year of 7.50% and a partial repayment of principal)
payable on May 15, August 15, November 15 and February 15 of each year (each such date, an “Installment Payment Date” and the period from, and including, May 21, 2014 to, but excluding, the first
Installment Payment Date and each subsequent full quarterly period from and including an Installment Payment Date to, but excluding, the immediately succeeding Installment Payment Date, an “Installment Payment Period”), commencing
on August 15, 2014, all as set forth on the reverse hereof, with the final installment payment due and payable on May 15, 2017, subject to the Company’s right to defer such payments in accordance with the terms of the Indenture. The
installment payments payable on any Installment Payment Date shall be computed on the basis of a 360-day year consisting of twelve 30-day months. If an installment payment is payable for any period shorter than a full Installment Payment Period,
such installment payment shall be computed on the basis of the actual number of days elapsed per 30-day month. In the event that any date on which an installment payment is payable is not a Business Day, then the installment payment on such date
will be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. However, if such Business Day is in the next succeeding calendar year, then such installment payment shall be
made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Installment payments shall be paid to the person in whose name the Note is registered at the close of business on the Business Day
immediately preceding the related Installment Payment Date (each, a “Regular Record Date”) in accordance with the terms of the Indenture. If the Notes do not remain in the form of Global Notes, the Company shall have the right to
select Regular Record Dates, which will be more than 14 days but less than 60 days prior to the relevant Installment Payment Date. 

Installments shall be payable at the office or agency of the Company maintained for that purpose in accordance with the
provisions of the Indenture. 
 This Note shall not be entitled to any benefit under the Indenture hereinafter referred to
or be valid or obligatory for any purpose until the Certificate of Authentication shall have been signed by or on behalf of the Trustee. 

The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have
the same effect as though fully set forth at this place. 
  
  

 
  

1 Include if a Global Note. 

2 Include if a Global Note. 

  
 A-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	BANC OF CALIFORNIA, INC.,
	as Issuer
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 

 

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-4 

 [FORM OF REVERSE OF NOTE] 

BANC OF CALIFORNIA, INC. 

This Note is one of a duly authorized series of Securities of the Company designated as its “7.50% Junior Subordinated
Amortizing Notes due 2017” (herein referred to as the “Notes”), issued under the Indenture, dated as of May 21, 2014, between the Company and U.S. Bank National Association, as trustee (the “Trustee,”
which term includes any successor trustee under the Indenture) (the “Base Indenture,” and the Base Indenture, as supplemented by the First Supplemental Indenture, dated as of May 21, 2014, (the “Supplemental
Indenture”), between the Company and the Trustee, the “Indenture”), to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the
Trustee, the Company and the Holders. The terms of other series of Securities issued under the Indenture may vary with respect to interest rates, issue dates, maturity, redemption, repayment, currency of payment and otherwise as provided in the
Indenture. This series of Securities is limited in aggregate principal amount as and to the extent specified in said First Supplemental Indenture. 

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise
indicated. 
 Each installment shall constitute a payment of interest (at a rate of 7.50% per annum) and a partial
repayment of principal on the Note, allocated as set forth in the schedule below: 
  

					
	Scheduled Installment Payment Date	 	      Amount of Principal      	 	      Amount of Interest      
	 August 15, 2014
	 	$0.747754	 	$0.185579
	 November 15, 2014
	 	$0.815185	 	$0.184815
	 February 15, 2015
	 	$0.830470	 	$0.169530
	 May 15, 2015
	 	$0.846041	 	$0.153959
	 August 15, 2015
	 	$0.861904	 	$0.138096
	 November 15, 2015
	 	$0.878065	 	$0.121935
	 February 15, 2016
	 	$0.894529	 	$0.105471
	 May 15, 2016
	 	$0.911301	 	$0.088699
	 August 15, 2016
	 	$0.928388	 	$0.071612
	 November 15, 2016
	 	$0.945795	 	$0.054205
	
February 15, 2017
	 	$0.963529	 	$0.036471
	 May 15, 2017
	 	$0.981595	 	$0.018405

 Installment payments may be deferred by the Company in accordance with the provisions of
Section 2.03(c) of the Supplemental Indenture. 
 This Note will not be subject to redemption at the option of the
Company. However, a Holder shall have the right to require the Company to repurchase some or all of its Notes for cash at the Repurchase Price per Note, and on the Repurchase Date, upon the occurrence of certain events, and subject to the conditions
set forth in the Indenture. 
 This Note is not entitled to the benefit of any sinking fund. 

The Indenture contains provisions for defeasance and covenant defeasance at any time of the indebtedness on this Note upon
compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 
 If an Event of
Default relating to specified events of bankruptcy, insolvency or reorganization, or court appointment of a receiver, liquidator or trustee of the Company occurs and is continuing, then and in each such case either the Trustee or the Holders of not
less than 25% in aggregate initial principal amount of the Notes then outstanding, by notice in writing to the Company (and to the Trustee if given by Holders), may declare the principal amount of all the Notes to be due and payable immediately, and
upon any such declaration the same shall become immediately due and payable. This provision, however, is subject to the condition that, at any time after such a 

  
 A-5 

 
declaration of acceleration, and before any judgment or decree for the payment of the money due shall have been obtained or entered, the Holders of a majority in aggregate principal amount of the
Notes then outstanding, by written notice to the Company and to the Trustee, may waive all defaults and rescind and annul such declaration and its consequences, if certain conditions are met as set forth in the Indenture. 

There is no right of acceleration upon the occurrence of an Event of Default described in Section 5.01(a) of the
Supplemental Indenture or as described in Section 501(4) of the Base Indenture. 
 In the case of the additional Event
of Default described in Section 5.01(a) of the Supplemental Indenture, then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount that then shall have become due and
payable on all such Notes for principal, premium, if any, or interest, or any combination thereof, as the case may be, with interest upon the overdue principal and (to the extent that payment of such interest is enforceable under applicable law)
upon the overdue installments of interest, at the rate borne by the Notes; and, in addition, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents, attorneys and counsel. If the Company does not pay such amounts upon such demand, the Trustee shall be entitled and empowered to institute any actions or proceeding at law or in equity for the collection of the
sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor on the Notes and collect in the manner provided by law
out of the property of the Company or any other obligor on the Notes, wherever situated, the money adjudged or decreed to be payable. 

The Indenture permits, with certain exceptions as therein provided, the Company and the Trustee, with the consent of the
Holders of not less than a majority in principal amount of the Securities at the time outstanding of each series issued under the Indenture to be affected thereby, to execute supplemental indentures for certain purposes as described therein. 

No provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and
unconditional, to pay installments on this Note at the time, place and rate, and in the coin or currency, herein and in the Indenture prescribed, subject to the Company’s right to defer installment payments as described therein. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note shall be
registered on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company in New York, New York, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same
aggregate principal amount, shall be issued to the designated transferee or transferees. 
 The Notes are initially issued
in the form of Global Notes in initial minimum denominations of one Note and integral multiples in excess thereof. 
 No
charge shall be made for any such registration of transfer or exchange, but the Company may require the payment of a sum sufficient to cover any applicable tax or other governmental charge payable in connection with the transfer. 

The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Holder in whose name any Note
shall be registered upon the Security Register for the Notes as the absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving
installment payments on such Note and for all other purposes; and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice to the contrary. 

  
 A-6 

 THIS NOTE AND THE INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY AND THE TRUSTEE, AND EACH HOLDER OF A SECURITY BY ITS ACCEPTANCE THEREOF, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT IT MAY HAVE TO TRIAL BY
JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THE INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

All terms used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings
assigned to them in the Indenture. 
 No recourse under or upon any obligation, covenant or agreement contained in the
Indenture, or this Note, or because of any indebtedness evidenced thereby, shall be had against any incorporator, as such or against any past, present or future stockholder, Officer, director or employee, as such, of the Company or of any successor,
either directly or through the Company or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly
waived and released by the acceptance of this Note by the Holders hereof and as part of the consideration for the issue of this Note. 

The Company and each Holder agrees, and by acceptance of a beneficial ownership interest in the Notes, each beneficial owner
of a beneficial ownership interest in the Notes will be deemed to have agreed, for U.S. federal, state and local tax purposes, to treat the Notes as indebtedness. 

In the case of any conflict between this Note and the Indenture, the provisions of the Indenture shall control. 

  
 A-7 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to: 
  

			
	  
	  	

 (Insert assignee’s social security or tax identification number) 

 

			
	  
	  	

 (Insert address and zip code of assignee) 

and irrevocably appoints agent to transfer this Note on the books of the Company. The agent may substitute another to act for him or her. 

 

			
	Date:	 	  

 

			
	Signature:	 	  

  

			
	Signature	  	Guarantee:
	(Sign exactly as your name appears on the other side of this Note)	  	

  
 A-8 

 SIGNATURE GUARANTEE 

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar,
which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

									
	By:	 	  
	 		 		 	
		 	Name	 		 		 	
		 	Title:	 		 		 	
		 		 		 	
				
		 		 		 	  

		 		 		 	as Trustee
					
		 		 		 	By:	 	  

		 		 		 		 	Name
		 		 		 		 	Title:
		 		 		 		 	
					
	By:	 	  
	 		 		 	
		 	Name	 		 		 	
		 	Title:	 		 		 	

  
 A-9 

 FORM OF REPURCHASE NOTICE 

TO: Banc of California, Inc. and U.S. Bank National Association, as Trustee 

The undersigned registered Holder hereby irrevocably acknowledges receipt of a notice from Banc of California, Inc. (the “Company”)
regarding the right of Holders to elect to require the Company to repurchase the Notes and requests and instructs the Company to repay the entire principal amount of the number of Notes below designated, in accordance with the terms of the Indenture
and the Notes, together with accrued and unpaid interest to, but excluding, the Repurchase Date to the registered holder hereof. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the indenture, dated as
of May 21, 2014, between the Company and U.S. Bank National Association, as trustee (the “Trustee”) as supplemented by the First Supplemental Indenture, dated as of May 21, 2014, between the Company and the Trustee (such senior
indenture, as so supplemented, the “Indenture”). 
 The Notes shall be repurchased by the Company as of the Repurchase Date
pursuant to the terms and conditions specified in the Notes and the Indenture. 
  

									
	Dated:	 	  
	 		 		 	
				
		 		 		 	  

		 		 		 	Signature:	 	
				
		 		 		 	  

 NOTICE: The above signature of the Holder hereof must correspond with the name as written upon the face of the
Notes in every particular without alteration or enlargement or any change whatever. 
 Notes Certificate Number (if applicable): 

Number of Notes to be repurchased (if less than all, must be one Note or integral multiples in excess thereof): 

Social Security or Other Taxpayer Identification Number: 

  
 A-10 

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN A GLOBAL NOTE 

The initial number of Notes evidenced by this Global Note is
                            . The following increases or decreases in this Global Note have been made:

  

									
	 Date
	 	
Amount of decrease
in number of Notes
evidenced by this
Global Note
	 	
Amount of increase in
number of Notes
evidenced by this
Global Note
	 	
Number of Notes
evidenced by this
  Global Note following  
such decrease 
(or
increase)
	 	
Signature of
  authorized signatory  

of Trustee

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

  
 A-11EX-10.1

 Exhibit 10.1 
  

 
 EMPLOYEE RESTRICTED STOCK AWARD AGREEMENT 

AWARD OF RESTRICTED STOCK 

Geospace Technologies Corporation (the “Company”), pursuant to the Geospace Technologies Corporation 2014 Long-Term Incentive
Plan (the “Plan”), hereby awards to you,                     , effective as of
            , 20     (the “Grant Date”),              shares (the “Shares”)
of the Company’s Common Stock, $0.01 par value per share (the “Common Stock”), set forth above as Restricted Stock on the following terms and conditions: 

During the Restricted Period, the Shares of Restricted Stock will be evidenced by entries in the stock register of the Company reflecting that
such Shares of Restricted Stock have been issued in your name. For purposes of this Agreement, the term “Restricted Period” means the period specified herein during which the Shares may not be sold, assigned, transferred,
pledged, or otherwise encumbered. 
 The Shares that are awarded hereby to you as Restricted Stock shall be subject to the
prohibitions and restrictions set forth herein with respect to the sale or other disposition of such Shares and the obligation to forfeit and surrender such Shares to the Company (the “Forfeiture Restrictions”). The Forfeiture
Restrictions shall lapse as to the Shares that are awarded hereby in accordance with the following schedule provided that you have not incurred a Termination of Employment prior to the applicable lapse date: 

 

	 	(a)	on the first anniversary of the Grant Date, the Forfeiture Restrictions shall lapse as to one-quarter of the Shares subject to this Agreement; and 

 

	 	(b)	on each succeeding anniversary of the Grant Date, the Forfeiture Restrictions shall lapse as to an additional one-quarter of the Shares subject to this Agreement, so that on the fourth anniversary of the Grant Date the
Forfeiture Restrictions shall lapse as to all of the Shares subject to this Agreement. 

 If a Change of Control of the Company occurs
or you incur a Termination of Employment before the fourth anniversary of the Grant Date, your rights to the Shares of Restricted Stock under this Agreement will be determined as provided in the attached Terms and Conditions of Restricted Stock
Award Agreements (the “Terms and Conditions”). 
 The Shares of Restricted Stock awarded hereby may not be sold,
assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of (other than by will or the applicable laws of descent and distribution) to the extent then subject to the Forfeiture Restrictions. Any such attempted
sale, assignment, pledge, exchange, hypothecation, transfer, encumbrance or disposition in violation of this Agreement shall be void and the Company and its 

 
Affiliates (the “Company Group”) shall not be bound thereby. Further, the Shares awarded hereby that are no longer subject to Forfeiture Restrictions may not be sold or otherwise
disposed of in any manner that would constitute a violation of any applicable federal or state securities laws. You also agree that (a) the Company may refuse to cause the transfer of the Shares to be registered on the stock register of the
Company if such proposed transfer would in the opinion of counsel satisfactory to the Company constitute a violation of any applicable federal or state securities law and (b) the Company may give related instructions to the transfer agent, if
any, to stop registration of the transfer of the Shares. 
 Upon the lapse of the Forfeiture Restrictions with respect to Shares awarded
hereby the Company shall cause to be delivered to you a stock certificate representing such Shares, and such Shares shall be transferable by you (except to the extent that any proposed transfer would, in the opinion of counsel satisfactory to the
Company, constitute a violation of applicable federal or state securities law). 
 The Shares that may be issued under the Plan will be
registered with the Securities and Exchange Commission under a Registration Statement on Form S-8. You may obtain a copy of the Plan Prospectus by requesting it from the Company. 

Capitalized terms that are not defined herein shall have the meaning ascribed to such terms in the Plan or the Terms and Conditions. 

In accepting the award of Shares of Restricted Stock set forth in this Agreement you accept and agree to be bound by all the terms and
conditions of the Plan, this Agreement and the Terms and Conditions. 
  

	
	GEOSPACE TECHNOLOGIES CORPORATION
	
	 
	 Chief Executive Officer

	
	
ACCEPTED this      day of             , 
20    

	
	 
	 Employee

 GEOSPACE TECHNOLOGIES CORPORATION 

TERMS AND CONDITIONS 
 OF

 EMPLOYEE RESTRICTED STOCK AWARD AGREEMENTS 

These Terms and Conditions are applicable to a restricted stock award granted pursuant to the Geospace Technologies Corporation 2014 Long-Term
Incentive Plan (the “Plan”) and are incorporated as part of the Restricted Stock Award Agreement setting forth the terms of such restricted stock award (the “Agreement”). 

 

	1.	TERMINATION OF EMPLOYMENT. The following provisions will apply in the event you incur a Termination of Employment before the fourth anniversary of the Grant Date (the “Fourth Anniversary
Date”) under the Restricted Stock Award Agreement awarded to you (the “Agreement”): 

1.1 Termination Generally. If you incur a Termination of Employment on or before the Fourth Anniversary Date for any reason other than
one of the reasons described in Sections 1.2 and 1.3 below, the Forfeiture Restrictions then applicable to the Shares of Restricted Stock shall not lapse and the number of Shares of Restricted Stock then subject to the Forfeiture Restrictions
shall be forfeited to the Company on the date of your Termination of Employment. 
 1.2 Disability. Notwithstanding any other
provision of the Agreement or these Terms and Conditions to the contrary, if you become permanently disabled before the Fourth Anniversary Date and before you incur a Termination of Employment, all remaining Forfeiture Restrictions shall immediately
lapse on the date of your Termination of Employment due to your becoming permanently disabled. For purposes of this Section 1.2, you will be “permanently disabled” if you are unable to perform any substantial gainful activity
by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. 

1.3 Death. Notwithstanding any other provision of the Agreement or these Terms and Conditions to the contrary, if you die before the
Fourth Anniversary Date and before your Termination of Employment, all remaining Forfeiture Restrictions shall immediately lapse on the date of your Termination of Employment. 
  

	2.	CHANGE OF CONTROL. Notwithstanding any other provision of the Agreement or these Terms and Conditions to the contrary, if a Change of Control occurs before the Fourth Anniversary Date and before you incur a
Termination of Employment, then all remaining Forfeiture Restrictions shall immediately lapse on date of the Change of Control. 

  
 1 

	3.	NONTRANSFERABILITY. The Agreement is not transferable by you otherwise than by will or by the laws of descent and distribution. 

 

	4.	CAPITAL ADJUSTMENTS AND REORGANIZATIONS. The existence of the Shares of Restricted Stock shall not affect in any way the right or power of the Company or any company the stock of which is awarded pursuant to the
Agreement to make or authorize any adjustment, recapitalization, reorganization or other change in its capital structure or its business, engage in any merger or consolidation, issue any debt or equity securities, dissolve or liquidate, or sell,
lease, exchange or otherwise dispose of all or any part of its assets or business, or engage in any other corporate act or proceeding. 

  

	5.	RIGHTS REGARDING DISTRIBUTIONS MADE BY THE COMPANY DURING THE RESTRICTED PERIOD. During the Restricted Period, (a) any securities of the Company distributed by the Company in respect of the Shares of
Restricted Stock will be evidenced by entries in the appropriate securities register of the Company reflecting that such securities of the Company, if any, have been issued in your name (the “Retained Company Securities”) and
(b) any securities of any company other than the Company or any other property (other than regular cash dividends) distributed by the Company in respect of the Shares of Restricted Stock will be evidenced in your name by such certificates or in
such other manner as the Company determines (the “Retained Other Securities and Property”) and shall bear a restrictive legend to the effect that ownership of such Retained Other Securities and Property and the enjoyment of all
rights appurtenant thereto, are subject to the restrictions, terms, and conditions provided in the Plan, the Agreement and these Terms and Conditions. The Retained Company Securities and the Retained Other Securities and Property (collectively, the
“Retained Distributions”) shall be subject to the same restrictions, terms and conditions as are applicable to the Shares of Restricted Stock. 

  

	6.	 RIGHTS WITH RESPECT TO SHARES OF RESTRICTED STOCK AND RETAINED DISTRIBUTIONS DURING RESTRICTED PERIOD. You shall have the right to vote the
Shares of Restricted Stock awarded to you and to receive and retain all regular cash dividends (which will be paid currently and in no case later than the end of the calendar year in which the dividends are paid to the holders of the Common Stock
or, if later, the 15th day of the third month following the date the dividends are paid to the holders of the Common Stock), and to exercise all other rights, powers and privileges of a holder of the Common Stock, with respect to such Shares of
Restricted Stock, with the exception that (a) you shall not be entitled to delivery of a stock certificate or certificates representing such Shares of Restricted Stock until the Forfeiture Restrictions applicable thereto shall have lapsed,
(b) the Company shall retain custody of all Retained Distributions made or declared with respect to the Shares of Restricted Stock until such time, if ever, as the Forfeiture Restrictions applicable to the Shares of Restricted Stock with
respect to which such Retained Distributions shall have been made, paid, or declared shall have lapsed, and such Retained Distributions shall not bear interest or be segregated in separate accounts and (c) you may not sell, assign, transfer,
pledge, exchange, encumber, or dispose of the Shares of Restricted Stock or any Retained Distributions during the Restricted Period. During the Restricted Period, the Company may, in its sole 

  
 2 

	 	
discretion, issue certificates for some or all of the Shares of Restricted Stock, in which case all such certificates shall be delivered to the Corporate Secretary of the Company or to such other
depository as may be designated by the Committee as a depository for safekeeping until the forfeiture of such Shares of Restricted Stock occurs or the Forfeiture Restrictions lapse. When requested by the Company, you shall execute such stock powers
or other instruments of assignment as the Company requests relating to transfer to the Company of all or any portion of such Shares of Restricted Stock and any Retained Distributions that are forfeited in accordance with the Plan, the Agreement and
these Terms and Conditions. 

  

	7.	SECTION 83(B) ELECTION. You shall not exercise the election permitted under Section 83(b) of the Code with respect to the Shares of Restricted Stock without the written approval of the Chief Financial
Officer of the Company. 

  

	8.	SECURITIES ACT LEGEND. You consent to the placing on any certificate for the Shares of an appropriate legend restricting resale or other transfer of the Shares except in accordance with the Securities Act of 1933
and all applicable rules thereunder. 

  

	9.	LIMIT OF LIABILITY. Under no circumstances will the Company or any Affiliate be liable for any indirect, incidental, consequential or special damages (including lost profits) of any form incurred by any person,
whether or not foreseeable and regardless of the form of the act in which such a claim may be brought, with respect to the Plan. 

  

	10.	FORFEITURE. The provisions of this Section 10 are intended to protect the Company’s goodwill, which you acknowledge and agree is a unique and valuable asset of the Company. Notwithstanding any other
provision of these Terms and Conditions or the Agreement, if you engage in any of the behavior(s) prohibited in any of Section 11.1, Section 11.2, Section 11.3 or Section 11.4 then, to the extent determined by the Committee in
its sole discretion, all or a portion of your unvested rights under the Award, still outstanding at that time, shall immediately terminate and become null and void. 

 

	11.	PROHIBITED ACTIVITIES. 

 11.1 Prohibited Disclosure of Confidential Information.
You agree that, in the discretion of the Committee, the Award may be forfeited in whole or in part if you: 
 (i) make any unauthorized
disclosure of any Confidential Information or specialized training of the Company or any of its Affiliates, or makes any use thereof except in the carrying out of your responsibilities for the Company or any of its Affiliates, 

(ii) fail to preserve and protect the confidentiality of third party Confidential Information to the same extent, and on the same basis, as the
Company’s Confidential Information, 
 (iii) store electronic data of the Company or any of its Affiliates, including but not limited to
Confidential Information, on any electronic storage device that is not owned by the Company or any of its Affiliates without prior written consent of the Company or the Affiliate. 

  
 3 

 For purposes of these Terms and Conditions, “Confidential Information” means and
includes the Company’s or any of its Affiliate’s confidential and/or proprietary information and/or trade secrets that have been developed or used and/or will be developed and that cannot be obtained readily by third parties from outside
sources. Confidential Information includes, by way of example and without limitation, the following: information and strategies discussed in Plan Meetings, human resources information such as salary and budget information, performance ratings and
headcount numbers, information about underperforming districts or contracts, and cost structures as well as, information regarding customers, employees, vendors, contractors, and the industry not generally known to the public; strategies, methods,
books, records, and documents; technical information concerning products, equipment, services, and processes; procurement plans and procedures, and pricing techniques; the names of and other information concerning customers, investors, and business
affiliates (such as contact name, service provided, pricing for that customer, amount of services used, credit and financial data, and/or other information relating to the Company’s or any of its Affiliate’s relationship with that
customer); pricing strategies and price curves; plans and strategies for divestitures, mergers, expansion or acquisitions; budgets; customer lists; research and development projects and results; financial and sales data; evaluations, opinions, and
interpretations of information and data; marketing and merchandising techniques; service strategies, prospective customers’ names and marks; grids and maps; electronic databases; models; specifications; computer programs; internal business
records; contracts benefiting or obligating the Company or any of its Affiliates; bids or proposals submitted to any third party; technologies and methods; training methods and training processes; organizational structure; salaries of personnel;
payment amounts or rates paid to consultants or other service providers; and other such confidential or proprietary information. 
 11.2
Prohibition Against Solicitation of Customers. Ancillary to the grant of the Award, to protect the Company’s goodwill, and in consideration for the grant of the Award and the attendant transfer of Common Stock, by accepting the Award you
agree that, in the discretion of the Committee, the Award may be forfeited in whole or in part pursuant to Section 10 if within eighteen (18) months following the date you incur a Termination of Employment for any reason, you call on,
service, solicit, or accept competing business from customers of the Company or any of its Affiliates with whom you, within the previous eighteen (18) months, (i) had or made contact, or (ii) had access to information and files
regarding. 
 11.3 Prohibition Against Solicitation of Employees. Ancillary to the grant of the Award, to protect the Company’s
goodwill, and in consideration for the grant of the Award and any transfer of Common Stock pursuant to the Award by you, by accepting the Award you agree that, in the discretion of the Committee, the Award may be forfeited in whole or in part if
you: 

  
 4 

 (i) either directly or indirectly, call on, solicit, or induce any other employee or officer of
the Company or any of its Affiliates to terminate his or her employment with the Company or any of its Affiliates, or 
 (ii) assist any
other person or entity in such a solicitation. 
 11.4 Other Prohibited Activities. Ancillary to the grant of the Award, to protect
the Company’s goodwill, and in consideration for the grant of the Award and any transfer of Common Stock pursuant to the Award by you, by accepting the Award you agree that, in the discretion of the Committee, the Award may be forfeited in
whole or in part pursuant to Section 9 if you engage in fraud, embezzlement or other felony that is detrimental to the Company or any of its Affiliates. 

11.5 Determinations. All determinations under this Section 11, including whether you have engaged in any of the activities
described in any of Sections 11.1, 11.2, 11.3 or 11.4 shall be made by the Committee in its sole discretion. 
  

	12.	ACKNOWLEDGMENTS AND AGREEMENTS BY YOU. In accepting the award of the Award you acknowledge and agree as follows: 

(i) You have helped to develop the Company’s goodwill, including the relationships the Company has developed with its customers and
employees and their identities, and are capable of diverting that goodwill; 
 (ii) the consideration for the non-solicitation and
confidentiality agreements contained in Sections 11.1 through 11.3, the grant of the Award and the transfer of shares of Common Stock pursuant to the Award, are reasonably related to the Company’s interest in protecting its goodwill; 

(iii) You have no right to be granted the Award but rather, the grant of the Award is in the sole discretion of the Committee; 

(iv) the enforceability of the agreements contained in Sections 11.1 through 11.4 is a precondition for the Award set forth in the Agreement to
remain in effect and if any of such agreements are found to be invalid or unenforceable by a court or tribunal of competent jurisdiction in an action or proceeding between you and the Company or any of its Affiliates, the Award shall be forfeited;

 (v) the Confidential Information constitutes a valuable, special, and unique asset used by the Company and its divisions in their business
to obtain a competitive advantage over their competitors who do not have access to such Confidential Information; 
 (vi) protection of the
Confidential Information against unauthorized disclosure and use is of critical importance to the Company and its divisions in maintaining their competitive position, 

(vii) the restrictions of Section 11.2 are limited by geography to the specific places, addresses, or locations where a customer is
present and available for soliciting or servicing. 

  
 5 

	13.	OTHER AGREEMENTS. Nothing in these Terms and Conditions is intended to reduce the Company’s protections or your obligations under (1) any other agreement between you and the Company or any of its
Affiliates, (2) the common law, or (3) any applicable state or federal statute. 

  

	14.	LIMIT OF LIABILITY. Under no circumstances will the Company or any Affiliate be liable for any indirect, incidental, consequential or special damages (including lost profits) of any form incurred by any person,
whether or not foreseeable and regardless of the form of the act in which such a claim may be brought, with respect to the Plan. 

  

	15.	DATA PRIVACY. The Company’s Human Resources Department in Houston, Texas (U.S.A.) administers and maintains the data regarding the Plan, the grantees and the restricted stock awards granted for all
employees, consultants and directors in the Company and its Affiliates worldwide. 

 The data administered and
maintained by the Company includes information that may be considered personal data, including the name of the awardee, the award granted and the number of shares of stock subject to any award (“Personal Data”). From time to
time the Company may transfer certain of your Personal Data to Affiliates as necessary for the purpose of implementation, administration and management of your participation in the Plan (the “Purposes”), and the Company and
its Affiliates may each further transfer your Personal Data to any third parties assisting the Company in the implementation, administration and management of the Plan (collectively, “Data Recipients”). The countries to which
your Personal Data may be transferred may have data protection standards that are different than those in your home country and that offer a level of data protection that is less than that in your home country. 

In accepting the award of the Award, you hereby expressly acknowledge that you understand that from time to time the Company and its Affiliates
may transfer your Personal Data to Data Recipients for the Purposes. You further acknowledge that you understand that the countries to which your Personal Data may be transferred may have data protection standards that are different than those in
your home country and that offer a level of data protection that is less than that in your home country. 
 Further, in accepting the award
of the Award, you hereby expressly affirm that you do not object, and you hereby expressly consent, to the transfer of your Personal Data by the Company and its Affiliates to Data Recipients for the Purposes from time to time. 

 

	16.	GOVERNING LAW AND VENUE. The Plan, these Terms and Conditions and the Award shall be governed by the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise
refer construction or interpretation of the Plan, these Terms and Conditions and the grant of the Award to the substantive law of another jurisdiction. In accepting the award of the Award you are deemed to agree to submit to the exclusive
jurisdiction and venue of the federal or state courts of Harris County, Houston, Texas, to resolve any and all issues that may arise out of or relate to the Plan, these Terms and Conditions and the grant of the Award. 

  
 6 

	17.	SEVERABILITY AND BLUE PENCILING. If any single Section or clause of these Terms and Conditions should be found unenforceable, it shall be severed and the remaining Sections and clauses of these Terms and
Conditions shall be enforced in accordance with the intent of these Terms and Conditions. If any particular provision of these Terms and Conditions shall be adjudicated to be invalid or unenforceable, the Company and you specifically authorize the
court making such determination to edit the invalid or unenforceable provision to allow these Terms and Conditions, and the provisions thereof, to be valid and enforceable to the fullest extent allowed by law or public policy.

  

	18.	RECOUPMENTS. If the Company is required to prepare an accounting restatement due to the material noncompliance of the Company with any financial reporting requirement under applicable securities laws, if you are
then a current or former executive officer of the Company you shall forfeit and must repay to the Company any compensation awarded under the Agreement to the extent specified in any of the Company’s compensation recoupment policies established
or amended (now or in the future) in compliance with the rules and standards of the Securities and Exchange Commission Committee under or in connection with Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

  

	19.	MISCELLANEOUS. The Agreement is awarded pursuant to and is subject to all of the provisions of the Plan, including amendments to the Plan, if any. In the event of a conflict between these Terms and Conditions and
the Plan provisions, the Plan provisions will control. The terms “you” and “your” refer to the Participant named in the Agreement. Capitalized terms that are not defined herein shall have
the meanings ascribed to such terms in the Plan or the Agreement. 

  
 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}]]