Document:

Amended and Restated Promissory Note

 EXHIBIT 10.13 
  
 PROMISSORY NOTE 
  
 $22,000.00 
 Broward County, Florida 
 March 31, 2005 
  
 FOR VALUE RECEIVED, the undersigned, (hereinafter referred to as the (“Maker”) promises to pay to the order of Cornelis F. Wit, its his successors or assigns, (hereinafter referred to as
“Payee”), the principal sum of TWENTY TWO THOUSAND DOLLARS ($22,000.00), together with interest on the principal balance from time to time outstanding, at the rate of nine percent (9.00%) per annum; principal and interest shall be payable
as follows: (i) one-half (1/2) of the principal sum shall be payable upon the closing of any financing by Maker resulting in gross proceeds to the Maker in excess of $2,000,000, and (ii) the balance of the principal sum, together with accrued
interest, shall be paid no later than October 31, 2006. 
  
 In the event that the
Maker defaults in the payment of any payment of the principal sum or interest owing hereunder when and as the same shall become due and payable and such default shall continue for a period of 15 days, then this Promissory Note shall be in default
and the entire principal sum and all accrued interest shall become due and payable at once without notice and demand at the option of the Payee. While in default, amounts outstanding under this Promissory Note shall bear interest at the rate of
twelve percent (12%) per annum. 
  
 This Promissory Note may be prepaid in whole
or in part at any time without penalty or premium. All payments made shall first be applied to accrued and unpaid interest and then to principal. Any prepayment shall require payment of all accrued interest thereon. 
  
 In the event of an action to enforce this Promissory Note is commenced in a court of
competent jurisdiction or in the event recourse to any court shall be deemed necessary by Payee or Payee deems it necessary to employ legal counsel in order to collect or enforce the terms and provisions hereof for any reason, including but not
limited to the filing of a proof(s) of claim or any other proceedings under the Acts of Congress relating to Bankruptcy Proceedings or in any other type of receivership or insolvency proceedings, Payee shall be entitled to reasonable attorney’s
fees (through and including any appellate proceedings) and all costs and expenses incurred by Payee in collecting or enforcing payment hereof. 
  
 The Maker and any endorsers, sureties, guarantors, and all others who are, or may become liable for the payment hereof, (a) severally waive presentment for payment,
demand, notice of protest of this Promissory Note, and all other notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Promissory Note, (b) expressly consent to all extensions of time,
renewals, postponements of time of payment of this Promissory Note or other modifications hereof from time to time prior to or after the day they became due without notice, consent or consideration to any of the foregoing, (c) expressly agree to the
addition or release of any party or person primarily or secondarily liable hereon, (d) expressly agree that the Payee shall not be required first to institute any suit, or to exhaust its remedies against the undersigned or any other person or party
to become liable hereunder in order to enforce the payment of this Promissory Note, and (e) expressly agree that, notwithstanding the occurrence of any of the foregoing (except the express written release by the Payee of any such person), the Maker
shall be and remain, directly and primarily liable for all sums due under this Promissory Note. 

 Notwithstanding any other provisions of this Promissory Note or any other instrument executed in connection with the
loan evidenced here by, it is expressly agreed that the amounts payable under this Promissory Note or under the other aforesaid instruments for the payment of interest or any other payment in the nature of or which would be considered as interest or
other charge for the use or loan of money shall not exceed the highest rate allowed by the laws of the State of Florida, from time to time, and in the event the provisions of this Promissory Note or of such other instrument referred to above in this
paragraph with respect to the payment of interest or other payments in the nature of or which would be considered as interest or other charge for the use or loan of money shall result in exceeding such limitation, then the excess over such
limitation shall not be payable and the amount otherwise agreed to have been paid shall be reduced by the excess so that such limitation will not be exceeded. If any payment is actually made which shall result in such limitation being exceeded, the
amount of the excess shall constitute and be treated as a payment on the principal hereof and shall operate to reduce such principal by the amount of such excess, or if in excess of the principal indebtedness, such excess shall be refunded.

  
 This Promissory Note shall be construed in accordance with the laws of the
State of Florida. 
  
 MAKER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
WAIVES THE RIGHT EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY LITIGATION BASED HEREUNDER, OR ARISING OUT OF, OR IN CONNECTION WITH THIS PROMISSORY NOTE OR ANY DOCUMENT EXECUTED IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF
DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN), OR ACTIONS OF EITHER THE MAKER OR LENDER. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PAYEE TO EXTEND THE CREDIT EVIDENCED BY THIS NOTE. 
  
 MAKER: 
  
 OMNICOMM SYSTEMS, INC. 
  

	
	 /s/ Ronald T. Linares

	Ronald T. Linares
	Chief Financial Officer2005 Executive Incentive Bonus Plan

 Exhibit 10.1 
  
 Placer Sierra Bancshares 
 2005 Executive Incentive Bonus Plan 
  
 PURPOSE 
  
 Placer Sierra Bancshares is the sponsor of
this incentive plan (the “Plan”). Placer Sierra Bancshares and its subsidiaries (the “Company”) have designed the Plan to focus Placer Sierra Bancshares executives on achieving the annual business plan in 2005. The Plan provides
aggressive award opportunities and is intended to provide significant rewards to Placer Sierra Bancshares’ executive team for exceptional corporate performance. 
  
 APPROVAL AND ADMINISTRATION 
  
 The Plan has been approved for 2005 by the Compensation Committee of the Board of Directors and will be administered by the
Incentive Plan Committee (the “IP Committee”) which is comprised of Placer Sierra Bancshares’ CEO and executives reporting directly to the CEO. The IP Committee will recommend Plan Participants; Plan Performance Measures; Performance
Measure Weights; Achievement Levels and corresponding Award Opportunities; and the Financial Threshold (each as defined herein) to the Compensation Committee of the Board of Directors for their approval as early in the Plan Year as possible. At the
end of the Plan Year, the IP Committee will review achievements against Performance Measures and recommend Awards (as defined herein) to the Compensation Committee of the Board of Directors for their approval. Neither the CEO nor the CFO shall
participate in the Placer Sierra Bancshares Executive Incentive Bonus Plan. 
  
 Interpretation and application of the Plan to a particular circumstance will be made by the Compensation Committee of the Board of Directors at its sole discretion. Subject to any authority granted to the full Board
of Directors or a committee of the independent directors thereof, the Compensation Committee of the Board of Directors has the sole and absolute power and authority to make all factual determinations, construe and interpret terms and make
eligibility and Award determinations in accordance with its interpretation of the Plan. 
  
 PLAN YEAR 
  
 The Plan is an annual plan adopted for the 2005 calendar year. 

 ELIGIBILITY 
  
 Executive Vice Presidents and Senior Vice Presidents are eligible for participation in the Plan. The IP Committee will
review those eligible and recommend Participants to the Board of Directors for their approval. The IP Committee may recommend other executives for participation in the Plan on an exception basis for approval by the Compensation Committee of the
Board of Directors. 
  
 PARTICIPANT 

 
 An individual who has been selected for participation in the Plan by the
IP Committee and approved by the Compensation Committee of the Board of Directors is a Participant. 
  
 PERFORMANCE MEASURES 
  
 With respect to Senior Vice President and Other Key Executives included under the Plan, the IP Committee may select one to two Performance Measures for
the Plan for approval by the Compensation Committee of the Board of Directors. All Performance Measures will be key indicators of financial performance. Each Performance Measure will operate independently i.e. it is possible for one Performance
Measure to generate an award and not the other; likewise, it is possible for one Performance Measure to be achieved at a higher level than the other. Performance Measures will be individually weighted i.e. one Performance Measure may be counted more
heavily in calculating Awards than the other. Weights for each Performance Measure will be established at the beginning of the Plan Year by the IP Committee for approval by the Compensation Committee of the Board of Directors. Achievement Levels
will be established for each Performance Measure along with corresponding Award Opportunities. 
  
 For 2005, the IP Committee has selected Total GAAP Earnings as the sole Performance Measure for Executive Vice Presidents. 
  
 ACHIEVEMENT LEVELS AND AWARD OPPORTUNITIES 
  
 Achievement Levels and Award Opportunities for 2005 have been approved and are expressed as a percentage of base salary. This assumes that Total GAAP
Earnings is achieved at various percentages of the established Placer Sierra Bancshares Plan for 2005 and illustrates the maximum Award Opportunity at each specified Achievement Level. Mathematical interpolation will be used to calculate Awards for
achievement between the levels established below. 

 Achievement of Total GAAP Earnings Target 
  
 Overall Performance 
 Measure: Total GAAP Earnings Target $ 25,900,000 
 Achievement Level (% of Plan-Exhibit A) 
  

							
	 	  	96.8%

	 	100%

	 	Over 100%

	 Award Opportunities
	  	 	 	 	 	 
	 COO Placer Sierra
 Bancshares
	  	0% of Base
$	 	60% of Base
$	 	CEO/Board
Discretion
				
	 Executive Vice
 Presidents
	  	0% of Base
$	 	45% of Base
$	 	CEO/Board
Discretion
				
	 Senior Vice
 Presidents
	  	0% of Base
$	 	35% of Base
$	 	CEO/Board
Discretion

  
 AWARDS 
  
 Awards under the Plan for Performance
Measures will be determined by the IP Committee based upon achievement of Performance Measures and will be submitted to the Compensation Committee of the Board of Directors for approval. 
  
 For purposes of the Plan, salary means annual base salary in effect at the end of the performance year. Awards will be made
through the payroll system, minus legally required and authorized deductions. Awards under the Plan will be considered eligible compensation or not as defined by each specific employee benefit plan for purposes of employee benefit calculations.

  
 Awards for individuals who are Participants for less than a
full Plan Year will be prorated using Participant’s actual base salary paid during the time of participation in the Plan. Awards for Participants who leave First Community Bancorp during a Plan Year due to retirement, total and permanent
disability or death will be prorated using the same method. 
  
 To
be eligible to receive an Award under the Plan, a Participant must have a performance descriptor of “Achieves Expectations” or better for 2003. The Senior Management Incentive Compensation Plan is attached hereto as Exhibit B 

 ADJUSTMENTS 
  
 Performance Measures, Achievement Levels and Award Opportunities may be adjusted during the Plan Year only upon approval by
the Compensation Committee of the Board of Directors as it deems appropriate. It is anticipated that such adjustments will be made infrequently and only in the most extraordinary circumstances. 
  
 Because the Plan has aggressive Award Opportunities intended for use with
below market base salaries, some adjustments may need to be made to Awards if some Participant base salaries are currently above market. In such cases, the IP Committee may reduce an Award as it deems appropriate to achieve a reasonable level of
total compensation for each participant. All adjustments are subject to approval of the Compensation Committee of the Board of Directors. 
  
 PAYMENT OF AWARDS 
  
 Awards will be paid as soon as administratively feasible after review of performance against targets and approval by the IP Committee and the Compensation
Committee of the Board of Directors. To be eligible for Award payment, a Participant must have been an employee of the Company for at least three months and be an employee of the Company on the date that Awards are paid or have left the Company
during the Performance Period due to retirement, total and permanent disability or death. 
  
 Participants otherwise eligible to receive an Award and who were assigned to different parts of the organization during the Performance Period will have their Award calculated based upon the part of the organization
they are in at the end of the Performance Period and the Performance targets achieved by that group for the Performance Period. 
  
 For purposes of the Plan, salary means annual base salary in effect at the end of the performance year. Awards will be made through the payroll system,
minus legally required and authorized deductions. Awards under the Plan will be considered eligible compensation or not as defined by each specific employee benefit plan for purposes of employee benefit calculations. 
  
 NO RIGHT OF ASSIGNMENT 
  
 No right or interest of any Participant in the Plan is assignable or
transferable. In the event of a Participant’s death, payment of any earned but unpaid Awards will be made to the Participant’s legal successor, if not prohibited by law. 

 NO RIGHT OF EMPLOYMENT 
  
 The Plan does not give any employee any right to continue in the employment of the Company and does not constitute any
contract or agreement of employment or interfere in any way with the right the organization has to terminate such person’s employment. The Company is an “at will” employer and as such, can terminate an employment relationship between
itself and any of its employees at will, with or without cause, and with or without notice. 
  
 AMENDMENT OR TERMINATION OF THE PLAN 
  
 Placer Sierra Bancshares reserves the right to change, amend, modify, suspend, continue or terminate all or any part of the Plan either in an individual
case or in general, at any time without notice. 

 EXHIBIT A 
 Executive Compensation Schedule 
  

							
	 Budget Objective:
	  	$25,900,000 / 15,200,000 fully diluted shares = $1.65 per share
		
	 Total Incentive Compensation:
 (After-Tax)
	  	$548,000

  

																																				
	 Earnings w/o Incentives
	  	$	25,080	  	$	25,200	 	 	$	25,300	 	 	$	25,400	 	 	$	25,500	 	 	$	25,600	 	 	$	25,700	 	 	$	25,800	 	 	$	25,900	 
	 Incentive Payments (After Tax)
	  	$	0	  	$	120	 	 	$	220	 	 	$	320	 	 	$	420	 	 	$	520	 	 	$	620	 	 	$	720	 	 	$	820	 
	 % of Incentive Payment
	  	 	 	  	 	(14.6	)%	 	 	(26.8	)%	 	 	(39.0	)%	 	 	(51.2	)%	 	 	(63.4	)%	 	 	(75.6	)%	 	 	(87.8	)%	 	 	(100.0	)%
	 Incentive Savings
	  	$	820	  	$	700	 	 	$	600	 	 	$	500	 	 	$	400	 	 	$	300	 	 	$	200	 	 	$	100	 	 	 	-0-	 
	 Total Net Income
	  	$	25,080	  	$	25,080	 	 	$	25,080	 	 	$	25,080	 	 	$	25,080	 	 	$	25,080	 	 	$	25,080	 	 	$	25,080	 	 	$	25,080

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