Document:

EX-10.19B

 Exhibit 10.19B 

BANC OF CALIFORNIA, INC. 

2013 OMNIBUS STOCK INCENTIVE PLAN 

RESTRICTED STOCK UNIT MASTER AGREEMENT 

FOR EMPLOYEE EQUITY OWNERSHIP PROGRAM GRANTS 

RSU No.                      

Restricted Stock Units are hereby awarded on the date of grant (the “Grant Date’) and specific terms and to the person (the
“Grantee”) set forth in Exhibit A hereto, pursuant to this Restricted Stock Unit Master Agreement (this “Agreement”), by Banc of California, Inc. (f/k/a First PacTrust Bancorp, Inc.), a Maryland corporation (the
“Company”). 
 1. Award. The Company hereby awards to the Grantee the number of Restricted Stock Units set forth in Exhibit
A hereto (“RSUs”), with each RSU representing the right to receive one share of Common Stock, pursuant to the Employee Equity Ownership Program administered under the Banc of California, Inc. (f/k/a First PacTrust Bancorp, Inc.) 2013
Omnibus Stock Incentive Plan, as the same may be amended from time to time (the “Plan”), and upon the terms and conditions and subject to the restrictions in the Plan and as hereinafter set forth. A copy of the Plan, as currently in
effect, is incorporated herein by reference and is attached hereto. Capitalized terms used herein which are not defined in this Agreement shall have the meaning ascribed to such terms in the Plan. 

2. Restrictions on Transfer; Vesting. When vested, each RSU will entitle the Grantee to receive one share of Common Stock. The
RSUs may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated by the Grantee, except upon the death of the Grantee, by will or by the laws of descent and distribution. 

Except as otherwise provided in Section 3 of this Agreement or Exhibit A hereto, provided that the Grantee is serving as a director,
officer, employee or consultant of the Company or any Subsidiary or Affiliate as of the date of vesting, the RSUs shall become vested in accordance with the vesting schedule set forth in Exhibit A hereto. 

3. Termination of Employment. Upon the Grantee’s Termination of Employment for any reason other than due to death or Disability,
any unvested RSUs shall become forfeited. In the event that the Grantee’s Termination of Employment is due to death or Disability, the RSUs, if not theretofore vested, shall vest in full as of the date of such Termination of Employment. 

4. Grantee’s Rights. The Grantee shall have no voting rights, no right to receive any dividends (or dividend equivalents) and no
other rights of a stockholder with respect to the shares of Common Stock underlying the RSUs unless and until such shares of Common Stock are issued to the Grantee in payment of the RSUs. 

5. Payment of Award. An RSU that has vested (“Vested RSU”) shall be paid in the form of a share of Common Stock, as of the
earliest to occur of the following: (A) the applicable scheduled vesting date set forth in Section 2 above (“Scheduled Vesting Date”), or (B) the date of Grantee’s Termination of Employment due to death or
Disability. Such payment shall be made as soon as practicable following the applicable Scheduled Vesting Date or the date of 

 
Termination of Employment due to death or Disability, but in no event later than thirty (30) days following the Scheduled Vesting Date or the date of Termination of Employment due to death
or Disability.
 6. Adjustments. In the event of a Corporate Transaction or Share Change, the RSUs shall be adjusted as and to the
extent provided in Section 3(d) of the Plan. 
 7. Effect of Change in Control. Section 10 of the Plan shall not apply to
the treatment of the RSUs upon and following a Change in Control. 
 8. Delivery and Registration of Shares. The Company’s
obligation to deliver shares of Common Stock hereunder shall, if the Committee so requests, be conditioned upon the receipt of a representation that the Grantee, or any other person to whom such shares are to be delivered, is acquiring such shares
without a view to the distribution thereof. In requesting any such representation, it may be provided that such representation requirement shall become inoperative upon a registration of such shares or other action eliminating the necessity of such
representation under the Securities Act of 1933, as amended, or other securities law or regulation. The Company shall not be required to deliver any shares of Common Stock hereunder prior to (i) the listing or approval for listing upon notice
of issuance of the shares on the Applicable Exchange, (ii) any registration or other qualification of such shares under any state or federal law, rule or regulation, or the maintaining in effect of any such registration or other qualification
which the Committee shall, in its absolute discretion upon the advice of counsel, determine to be necessary or advisable and (iii) obtaining any other consent, approval, or permit from any state or federal government agency which the Committee
shall, in its absolute discretion after receiving the advice of counsel, determine to be necessary or advisable. 
 9. Plan and Plan
Interpretations as Controlling. The RSUs hereby awarded and the terms and conditions herein set forth are subject in all respects to the terms and conditions of the Plan, which are controlling. All determinations and interpretations made in the
discretion of the Committee shall be binding and conclusive upon the Grantee or the Grantee’s legal representatives with regard to any question arising hereunder or under the Plan. 

10. Clawback. All RSUs granted pursuant to this Agreement and all shares of Common Stock issued hereunder shall be subject to any
clawback, recoupment or forfeiture provisions (i) required by law or regulation and applicable to the Company or its Subsidiaries or Affiliates as in effect from time to time or (ii) set forth in any policies adopted or maintained by the
Company or any of its Subsidiaries or Affiliates as in effect from time to time. 
 11. Grantee Service. Nothing in this Agreement
shall interfere with or limit in any way the right of the Company or any Subsidiary or Affiliate to terminate the Grantee’s employment or service at any time, nor confer upon the Grantee any right to continue in the employ or service of the
Company or any Subsidiary or Affiliate. 
 12. Withholding Tax. Upon the vesting of the RSUs, the Company may withhold from any
payment or distribution made hereunder sufficient shares of Common Stock to cover any applicable withholding and employment taxes, or require the Grantee to remit to the Company an amount sufficient to satisfy such taxes. 

  
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 13. Notices. All notices hereunder to the Company shall be delivered or mailed to it
addressed to the Secretary of Banc of California, Inc., 18500 Von Karman Avenue, Suite 1100, Irvine, California 92612. Any notices hereunder to the Grantee shall be delivered personally or mailed to the Grantee’s current address according to
the Company’s personnel files. Such addresses for the service of notices may be changed at any time, provided written notice of the change is furnished in advance to the Company or to the Grantee, as the case may be. 

14. Severability. The various provisions of this Agreement are severable in their entirety. Any judicial or legal determination of
invalidity or unenforceability of any one provision shall have no effect on the continuing force and effect of the remaining provisions. 

15. Governing Law; Headings. This Agreement and actions taken hereunder shall be governed by and construed in accordance with the laws
of the State of Maryland, without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. 

16. Amendment. This Agreement may be amended or modified by the Committee at any time; provided, that, no amendment or
modification that materially impairs the rights of the Grantee as provided by this Agreement shall be effective unless set forth in writing signed by the parties hereto, except such an amendment made to cause the terms of this Agreement or the RSUs
granted hereunder or shares of Common Stock issued hereunder to comply with applicable law (including tax law), Applicable Exchange listing standards or accounting rules. The waiver by either party of compliance with any provision of this Agreement
shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by such party of a provision of this Agreement. 

17. Grantee Acceptance; Counterparts. The Grantee shall signify the Grantee’s acceptance of the terms and conditions of this
Agreement by signing in the space provided in Exhibit A to this Agreement and returning a signed copy thereof to the Company at the address set forth in Section 13 above. This Agreement may be executed in counterparts, each of which shall be
deemed an original, but which together shall constitute one and the same instrument. The parties hereto agree to execute such further instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent of
this Agreement. 
 18. Section 409A. The RSUs are intended to comply with Section 409A of the Code. Notwitstanding
anything herein to the contrary, this Award shall be interpreted, operated and administered in a manner consistent with this intention. 

[Signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date
of grant set forth in Exhibit A to this Agreement. 
  

			
		 	BANC OF CALIFORNIA, INC.
		
	By:	 	  

 EXHIBIT A 

RSU No.                      

Name of Grantee: 
 Date of
Grant: 
 RSUs Granted: 

Vesting Schedule: 
  

			
	 Date of Vesting
	  	 Number of RSUs VestedEX-10.22

 Exhibit 10.22 
 EAST BOSTON SAVINGS BANK – MERIDIAN INTERSTATE BANCORP, INC. 

Incentive Compensation Plan 
 Revised January 24, 2008 
 Purpose of the Plan 

The purpose of the Plan is to encourage greater initiative, resourcefulness, cooperation and effectiveness on the part of all officers and staff members
of the Bank by providing a means whereby such participants may be rewarded for their efforts as determined by individual performance review and evaluation. The Plan is based on key variables in accordance with the Bank’s overall goals. As the
Bank meets or exceeds its objectives, the Plan provides for a payment of a bonus to recognize and reward the contributions of the participants. 
  

	1.	The EBSB Board of Directors has established an incentive compensation plan for the Bank in order to: 

 

	 	•	 	 Provide total annual compensation (i.e., salary plus incentive) that is competitive with other financial institutions in the employment markets in
which the Bank competes. 

  

	 	•	 	 Promote the Bank’s achievement of profit and business goals established through the annual business planning process; and

  

	 	•	 	 Facilitate the retention and commitment of key personnel. 

 

	2.	The pool from which the bonus will be distributed shall be equal to ten (10) percent of the net operating income at fiscal year end. If the amount of the proposed
total bonus distribution exceeds the available bonus pool, no bonus will be distributed under the provisions of the Plan. In this event, the Compensation Committee may authorize an alternative form of bonus payment. 

 

	3.	All bonus payments will be made at the discretion of the Compensation Committee, and no officer or employee shall have any right to receive a bonus under the Plan until
the Compensation Committee has specifically voted such bonus. Authorized payments will be made following the close of the fiscal year at a time to be designated by the Committee. 

 

	4.	A reduction will be made for Personal Leave Days in excess of five (5) taken during the fiscal year. An amount equal to ten percent (10%) of the
individual’s gross bonus will be deducted from the total for each day in excess of five (5). A reduction will also be made for unpaid absences over and above Personal Leave Day allotment and for unpaid absences that occur prior to eligibility
for Personal Leave Days. An amount equal to ten percent (10%) will be deducted for each such day and may result in a total loss of bonus. Days spent in jury duty, military service or military reserve obligations, or bereavement leave as
described and restricted by the Employee Handbook, will not be counted against an individual’s bonus payment. 

A reduction of four tenths of one percent (0.4%) will be made for each Accumulated Leave Day, Personal Leave Day or unpaid day of absence,
in excess of five for the year, which is part of an approved statutory leave of absence. Extended or repeated absences due to serious medical causes documented by a physician’s certificate may be treated the same way in calculating a bonus
payment. This is in lieu of the 10% reductions described in the previous paragraph. 
  

	5.	A reduction will also be made for an employee who is not on an approved leave of absence for a portion of the year. The same is true for an employee who is on a
development plan during the Plan year. 

  
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 Definitions 
 The following terms shall have these meanings: 
  

			
	 Term
	  	 Shall Mean

		
	Bank	  	East Boston Savings Bank
		
	Bank Plan	  	Bank’s Incentive Compensation Plan
		
	Base Salary	  	Full-Time Employees
		  	  
 Annualized weekly base salary excluding sales
incentives, overtime, Saturday pay, prior year bonus payment and other pay

		
		  	Part-Time Employees
		  	  
 Regular earnings excluding sales incentives,
prior year bonus payment and other pay

		
		  	Commissioned Employees
		  	  
 If eligible, annualized weekly base salary plus
commissions excluding Saturday pay, prior year bonus payment and other pay.

		
	Board	  	EBSB Board of Directors.
		
	Bonus Pool	  	An amount equal to ten (10) percent of the net operating income at the end of the Plan year.
		
	Committee	  	Compensation Committee of the Board of Directors of the Bank
		
	Participant	  	Eligible officers and employees of East Boston Savings Bank.
		
	Plan Year	  	Any fiscal year
		
	The Plan	  	The Incentive Compensation Plan as herein described.

 Participation 

Officers and employees will normally participate in the distribution of the bonus in accordance with their levels of responsibility and degrees of
decision making authority impacting overall Bank success and their own operating unit. Grade and base salary at the close of the fiscal year will be used to determine the percentage of the distribution and the dollar value of each individual bonus
distribution. 

  
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 Eligibility 
 All actively employed officers and employees who receive a satisfactory overall performance rating and who have been actively employed for a minimum of six months of the Plan year are eligible. To qualify
for payment the officers and employees must be actively employed at the time the bonus distribution is made. Otherwise, eligible officers and employees employed for less than twelve (12) months of the Plan year will receive a pro-rated bonus
according to the length of service. 
 Rights of Plan Participants 
 Plan Participants who terminate employment with the Bank by reason of death, disability or retirement prior to the conclusion of the Plan Year will receive a pro-rata payment of any incentive award
earned, based on the months of completed service as a Plan Participant during the year. Beneficiaries of such payments will be the same as identified in the Bank’s group insurance plan. Any Plan Participant who terminates employment before
awards are paid forfeits any earned award. Any Plan Participant whose service with the Bank is terminated for cause will receive no payment. At the discretion of the Compensation Committee, in consultation with the Bank’s President, if any Plan
Participant has had poor performance during any Plan year, any potential payment may be subject to reduction or elimination. NOTE: Temporary employees are not eligible. 
 Award Limitations 
 Notwithstanding other provisions in the Plan, the Compensation Committee may
review the amount available for bonus payments in all categories and adjust such amounts to reflect its evaluation of the Bank’s achievements in the Plan year. Such evaluations may be based on comparisons to other banks or any other appropriate
criteria. 
 The Compensation Committee reserves the right to amend or modify the Plan at any time. The Board of Directors may elect to
terminate the Plan at any time. 
 Individual Bonus Award Distribution 
 If earnings achievement for the Plan year meets the pre-established criteria, bonus payment will be distributed in accordance with the separately published Award Distribution table. 

Withholding Taxes 
 The Bank may make such
provisions as it deems appropriate for withholding payroll taxes in connection with payment of Incentive Compensation awards. 
 Amendment or
Termination 
 The Committee reserves the right at any time to amend, suspend or terminate the Plan in whole or in part for any reason and
without the consent of any Eligible Employee, provided that no such amendment shall adversely affect the rights of the Plan Participants with respect to amounts earned prior to such amendments. 

  
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 EAST BOSTON SAVINGS BANK - MERIDIAN INTERSTATE BANCORP, INC. 

 
 INCENTIVE COMPENSATION PLAN - Plan Year 2013
for 2014 Payout 
 Individual Bonus Award Distribution  

If earnings achievement for the Plan year meets the pre-established criteria, 

bonus payment will be distributed in accordance with the following Bank performance 

and individual participant’s performance evaluation formula: 
 Plan does not include accrued bonus expense and monies held 
 by Prospect Inc. for
Federal and State Income Taxes 
  

																											
	 Group
	  	A	 	 	B	 	 	C	 	 	D	 	 	E	 	 	F	 
	 Performance Scale*
	  	 Review Rating
	  	E12	 	 	E 11	 	 	E 9 & 10	 	 	E 7 & 8	 	 	E 3 - 6	 	 	E 1 & 2,
N 1-8	 
	 20
	  		  	 	10	% 	 	 	8	% 	 	 	6	% 	 	 	4	% 	 	 	3	% 	 	 	2	% 
								
	 40
	  	Satisfactory	  	 	14	  	 	 	10	  	 	 	8	  	 	 	5	  	 	 	3	  	 	 	3	  
		  	Above Satisfactory	  	 	16	  	 	 	12	  	 	 	10	  	 	 	8	  	 	 	5	  	 	 	4	  
		  	Exceptional	  	 	18	  	 	 	14	  	 	 	12	  	 	 	10	  	 	 	7	  	 	 	6	  
								
	 60
	  	Satisfactory	  	 	17	  	 	 	13	  	 	 	11	  	 	 	9	  	 	 	6	  	 	 	5	  
		  	Above Satisfactory	  	 	21	  	 	 	15	  	 	 	13	  	 	 	12	  	 	 	8	  	 	 	7	  
		  	Exceptional	  	 	25	  	 	 	18	  	 	 	15	  	 	 	14	  	 	 	11	  	 	 	9	  
								
	 80
	  	Satisfactory	  	 	25	  	 	 	17	  	 	 	14	  	 	 	13	  	 	 	10	  	 	 	8	  
		  	Above Satisfactory	  	 	30	  	 	 	21	  	 	 	17	  	 	 	16	  	 	 	12	  	 	 	10	  
		  	Exceptional	  	 	35	  	 	 	25	  	 	 	20	  	 	 	19	  	 	 	15	  	 	 	13	  
								
	 100
	  	Satisfactory	  	 	35	  	 	 	25	  	 	 	20	  	 	 	19	  	 	 	15	  	 	 	13	  
		  	Above Satisfactory	  	 	42	  	 	 	30	  	 	 	23	  	 	 	21	  	 	 	18	  	 	 	16	  
		  	Exceptional	  	 	50	  	 	 	35	  	 	 	27	  	 	 	24	  	 	 	21	  	 	 	19	  

  

	*	Performance Scale level is calculated by adding the numerical scores achieved for each of the established Incentive Target Goals (see separate table) and dividing that
total by the maximum possible score of 20. 

  
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 MERIDIAN INTERSTATE BANCORP, INC. 
 2013-2014 INCENTIVE COMPENSATION (BONUS) PLAN 
 (Dollars in Thousands)

  

																					
	 COMPONENT
	  	WEIGHT (%)	 	 	2013
BUDGET	 	 	1	 	2	 	3	 	4	 	5	 
								
	 Net Loan Growth (as a %) ( A )
	  	 	25.0	% 	 	 	13.37	% 	 	4.36%-5.86%	 	5.87%-11.86%	 	11.87%-14.87%	 	14.88%-20.87%	 	 	> 20.87	% 
								
	 Deposit Growth (as a %) ( B )
	  	 	12.5	% 	 	 	9.83	% 	 	6.32%-7.32%	 	7.32%-8.82%	 	8.83%-10.83%	 	10.84%-13.33%	 	 	> 13.33	% 
								
	 Cost of Funds (as a %) ( C )
	  	 	12.5	% 	 	 	0.86	% 	 	1.06%-1.00%	 	0.99%-0.93%	 	0.92%-0.80%	 	0.79%-0.73%	 	 	< 0.73	% 
								
	 Net Operating Income (in dollars, in thousands) ( D )
	  	 	25.0	% 	 	$	15,066	  	 	$10,316-$12,215	 	$12,216-$14,115	 	$14,116-$16,016	 	$16,017-$17,916	 	 	> $17,916	  
								
	 Efficiency Ratio (as a %) ( E )
	  	 	25.0	% 	 	 	76.20	% 	 	<= 81.45%	 	81.44%-77.94%	 	77.95%-74.45%	 	74.44%-70.94%	 	 	< 70.94	% 
		  	  
	  
	 	 				 		 		 		 		 			
		  	 	100.0	% 	 				 		 		 		 		 			

 Footnote: 

	( A )	Includes loans held for sale but does not include loans serviced for others. 

	( B )	Does not included Fed Funds Purchased from other institutions. 

	( C )	Includes non-interest bearing deposits. 

	( D )	Represents net income before taxes, with ICP assumed at the budgeted amount. 

	( E )	Represents non-interest expense divided by the sum of net interest income and non-interest income excluding gains or losses on securities. Also see inclusions and
adjustment outlined in (D). 

  
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