Document:

EXHIBIT 10

EXHIBIT 10.4

CHANGE IN CONTROL SEVERANCE AGREEMENT

THIS CHANGE IN CONTROL SEVERANCE AGREEMENT (the "Agreement") is made and
entered into as of this 1st day of February, 2006, by and between ITLA Capital Corporation (the
"Company"), and Norval L. Bruce  (the "Employee").

         WHEREAS, the Employee is currently serving as Vice Chairman of the Board of Directors
and Chief Credit Officer of the Company; and

         WHEREAS, the Board of Directors of the Company (the "Board of Directors") recognizes
that, as is the case with publicly held corporations generally, the possibility of a change in control
of the Company may exist and that such possibility, and the uncertainty and questions which it
may raise among management, may result in the departure or distraction of key management
personnel to the detriment of the Company and its stockholders;

         	WHEREAS, the Employee is a party to that certain Change in Control Severance
Agreement dated May 12, 1998 with the Company under which the Employee is entitled to
certain severance benefits under certain conditions (the "Prior Severance Agreement"), which he
or she is willing to terminate in consideration of this Agreement's becoming effective;

         WHEREAS, the Board of Directors believes it is in the best interests of the Company to
enter into this Agreement with the Employee in order to assure continuity of management of the
Company and to reinforce and encourage the continued attention and dedication of the Employee
to the Employee's assigned duties without distraction in the face of potentially disruptive
circumstances arising from the possibility of a change in control of the Company, although no
such change is now contemplated; and

         WHEREAS, the Board of Directors has approved and authorized the execution of this
Agreement with the Employee;

         NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and
agreements of the parties herein, it is AGREED as follows:

         1.         Definitions.

         	(a)         The term "Change in Control" means the occurrence of any of the following events
with respect to the Company: (1) any person (as the term is used in section 13(d) and 14(d) of the
Securities Exchange Act of 1934 (the "Exchange Act") is or becomes the beneficial owner (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly of securities of the Company
representing 33.33% or more of the Company's outstanding securities; (2) individuals who are
members of the Board of Directors of the Company on the date hereof (the "Incumbent Board")
cease for any reason to constitute at least a majority thereof, provided that any person becoming a
director subsequent to the date hereof whose election was approved by a vote of at least two
thirds of the directors comprising the Incumbent Board, or 

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whose nomination for election by the
Company's stockholders was approved by the nominating committee serving under an Incumbent
Board, shall be considered a member of the Incumbent Board; (3) a reorganization, merger,
consolidation, sale of all or substantially all of the assets of the Company or a similar transaction
in which the Company is not the resulting entity (unless the continuing ownership requirements
clause (4) below are met with respect to the resulting entity); or (4) a merger or consolidation of
the Company with any other corporation other than a merger or consolidation in which the voting
securities of the Company outstanding immediately prior thereto represent at least 66.67% of the
total voting power represented by the voting securities of the Company or the surviving entity
outstanding immediately after such merger or consolidation. The term "Change in Control" shall
not include: (1) an acquisition of securities by an employee benefit plan of the Company; or (2)
any of the above mentioned events or occurrences which require but do not receive the requisite
government or regulatory approval to bring the event or occurrence to fruition.

         	(b)         The term "Disability" means the Employee's absence from his or her duties with
the Company on a full time basis for six consecutive months as a result of his or her incapacity
due to mental or physical illness, unless within 30 days after the Company gives the Employee
written notice of termination of employment for such reason the Employee shall have returned to
full time performance of his or her duties.

         	(c)         The term "Date of Termination" means the date specified in the Notice of
Termination, given pursuant to Section 4 of this Agreement, provided that if within 15 days after
any Notice of Termination for Cause is given or, if later, prior to the Date of Termination
specified in such Notice, the Employee notifies the Company that a dispute exists concerning the
Notice of Termination, then the Date of Termination shall be the date on which the dispute is
finally determined, whether by mutual written agreement of the parties, by a binding arbitration
award, or by a final judgment, order or decree of a court of competent jurisdiction (which is not
appealable or with respect to which the time for appeal therefrom has expired and no appeal has
been perfected); and provided further that the Date of Termination shall be extended by a notice
of dispute only if such notice is given in good faith and sets forth in reasonable detail the facts and
circumstances that are the basis for the dispute, and the Employee pursues the resolution of such
dispute with reasonable diligence. For purposes of this Section 1(c), a "dispute" extending the
Date of Termination shall be limited to a dispute as to whether the termination was a
"Termination for Cause" by the Company.  Notwithstanding the pendency of any such dispute,
the Company shall continue to pay the Employee the Employee's full base salary at the rate in
effect when the Notice of Termination was given and continue the Employee as a participant in all
benefit plans in which the Employee was participating when the Notice of Termination was
given) unless continued employment is a requirement for participation in any such benefit plan),
until the dispute is finally resolved in accordance with this Section 1(c).

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         	(d)         The term "Termination without Cause" means the termination of the employment
of the Employee without the Employee's express written consent for any reason other than a
Termination for Cause within six months prior to or within thirty-six months after a Change in
Control or a termination by the Employee for any reason within twelve months after a Change in
Control.

         	(e)         The term "Notice of Termination" means a notice of termination of the
Employee's employment pursuant to Section 4 of this Agreement.

         	(f)         The terms "Termination for Cause" and "Terminated for Cause" mean termination
by the Company of the employment of the Employee because of (i) willful and continued failure
by the Employee substantially to perform his or her duties (other than a failure resulting from
physical or mental illness) after a demand for substantial performance is delivered to the Employee
by the Chairman of the Board of Directors or the Chief Executive Officer of the Company which
specifically identifies the manner in which the Employee has not substantially performed his or her
duties, (ii) the Employee's willful dishonesty, incompetence, willful misconduct, breach of
fiduciary duty involving personal profit, intentional failure to perform stated duties, willful
violation of any law, rule, regulation, or final cease-and-desist order, relating to the Employee's
employment with the Company or otherwise interfering with the Employee's ability to carry out
the duties of the employment, or material breach of any provision of this Agreement or any
employment agreement between the Company and the Employee; provided that no act or failure
to act shall be considered "willful" unless done or omitted to be done by the Employee in bad faith
and without reasonable belief that the act or omission was in or not opposed to the beat interests
of the Company. Any act or failure to act based upon authority pursuant to a resolution duly
adopted by the Board of Directors or upon the advice of counsel for the Company shall be
conclusively presumed to be done or omitted to be done in good faith and in the beat interacts of
the Company. The Employee's attention to matters not directly related to the business of the
Company shall not provide a basis for Termination for Cause if the Board of Directors or the
Chief Executive Officer of the Company has approved the Employee's engaging in such activities.
The Employee shall not be deemed to have been Terminated for Cause unless and until the
Company has delivered to the Employee a notice containing a resolution adopted by not less than
three-quarters of the entire membership of the Board of Directors at a meeting called and held for
the purpose, after reasonable notice to the Employee and opportunity for him to appear with
counsel before the Board of Directors, finding that in the good faith opinion of the Board of
Directors the Employee has engaged in conduct described in this Section 1(f) and specifying the
particulars in detail.

         2.         Term. The term of this Agreement shall be three years from the date first written above,
provided that on each anniversary of such date, the term shall be extended for an additional year
unless at least 90 days prior such anniversary, either the Company or the Employee gives notice to
the other that the term of this Agreement shall not be extended further, and provided further that
notwithstanding the delivery of any such notice, the term of this Agreement shall be extended until
the expiration of 36 months following the date upon which a Change in Control shall have
occurred during the term of the Agreement including extensions of the term pursuant to the first
proviso of this sentence.

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         3.         Severance Benefits.

         	(a)         In the event of a Termination without Cause, the Company shall, (1) pay to the
Employee in a lump sum in cash within 25 business days after the Date of Termination an amount
equal to the sum of (i) 299% of the Employee's "base amount" as defined under Section 280G of
the Internal Revenue Code of 1986, as amended (the "Code"), but such amount shall not exceed
$1,000,000; (2) provide to the Employee for 24 months following the Date of Termination, such
health, dental and life insurance benefits as the Company maintained for the Employee at the Date
of Termination on terms as favorable to the Employee as applied at the Date of Termination, or at
the election of the Employee (or, notwithstanding the election of the Employee at the election of
the Company if coverage under the Company's group plan is not available to the Employee) cash
in an amount equal to the premium cost being paid by the company with respect to the Employee
for such benefits immediately prior to the Date of Termination); (3) transfer to Employee title to
the Company owned vehicle currently used by the Employee, if any, with the Company paying all
coats, licensing fees and taxes (excluding income taxes) associated with the transfer of title, or in
the event the Employee receives a monthly cash car allowance in lieu of use of a Company
vehicle, the Company shall pay to the Employee pursuant to this paragraph an additional sum
equal to 24 times the greater of the monthly car allowance in effect on the date of the Change of
Control or the Date of Termination; (4) and vesting of all of Employee's outstanding stock
options and/or restricted stock awards with the Company or its affiliates. The provision of any
medical benefits under this Section 3(a) shall not extend to the period for the continuation of
group health benefits under the COBRA health care continuation provisions of Section 601 of the
Employee Retirement Income Security Act of 1974 ("ERISA") or other applicable state laws.
Nothing herein shall diminish the right of the Employee to receive any earned and accrued bonus,
on a pro rata basis, for the year in which Termination without Cause occurs or to be compensated
for accrued but unused vacation and sick time.

         	(b)         Notwithstanding any other provision of this Agreement, if the value and amounts
of benefits under this Agreement, together with any other amounts and the value of benefits
received or to be received by the Employee in connection with a Change in Control would cause
any amount to be nondeductible by the Company or any of its subsidiaries for federal income tax
purposes pursuant to Section 280G of the Code, then amounts and benefits under this Agreement
shall be reduced (not less than zero) to the extent necessary so as to maximize amounts and the
value of benefits to the Employee without causing any amount to become nondeductible by the
Company or its subsidiaries pursuant to or by reason of Section 280G of the Code.  The
Employee shall determine the allocation of such reduction among payments and benefits to the
Employee.

         	(c)         Any payments made to the Employee pursuant to this Agreement are subject to
and conditioned upon their compliance with 12 U.S.C. §1828(k) and any regulations promulgated
thereunder.

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         4.         Notice of Termination. In the event that the Company desires to terminate the
employment of the Employee without his consent during the term of this Agreement in connection
with or after a Change in Control has occurred, the Company shall deliver to the Employee a
written notice of termination, stating (i) whether such termination constitutes Termination for
Cause, and, if so, setting forth in reasonable detail the facts and circumstances that are the basis
for the Termination for Cause, and (ii) specifying the Date of Termination. In the event that the
Employee determines in good faith that he or she has suffered Involuntary Termination of his
employment, the Employee shall send a written notice to the Company stating the circumstances
that constitute Involuntary Termination and the Date of Termination. No provision of this
Agreement shall be construed as providing to the Employee any right to be retained as an
employee of the Company.

         5.         No Mitigation. The Employee shall not be required to mitigate the amount of any
salary or other payment or benefit provided for in this Agreement by seeking other employment or
otherwise, nor shall the amount of any payment or benefit provided for in this Agreement be
reduced by any compensation earned by the Employee as the result of employment by another
employer, by retirement benefits after the date of termination or otherwise, except as expressly set
forth herein.

         6.         Attorneys and/or Fees. If the Employee is purportedly Terminated for Cause or
experiences a Termination without Cause and the Company denies payments and/or benefits
under Section 3 of this Agreement on the basis that the Employee experienced Termination for
Cause rather than a Termination without Cause, but it is determined by a court of competent
jurisdiction or by an arbitrator pursuant to Section 14 that cause as contemplated by Section 1(f)
of this Agreement did not exist for termination of the Employee's employment, or if in any event
it is determined by any such court or arbitrator that the Company has failed to make timely
payment of any amounts or provision of any benefits owed to the Employee under this
Agreement, the Employee shall be entitled to reimbursement for all reasonable costs, including
attorneys' fees, incurred in challenging such termination of employment or collecting such
amounts or benefits. Such reimbursement shall be in addition to all rights which the Employee is
otherwise entitled under this Agreement.

         7.         No Assignments.

         	(a)         This Agreement is personal to each of the parties hereto, and neither party
may assign or delegate any of its rights or obligations hereunder without first obtaining the written
consent of the other party; provided, however, that the Company shall require any successor or
assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company, by an assumption agreement in
form and substance satisfactory to the Employee, to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to
perform it if no such succession or assignment had taken place. Failure of the Company to obtain
such an assumption agreement prior to the effectiveness of any such succession or assignment
shall be a breach of this Agreement and shall entitle the Employee to compensation from the
Company in the same amount and on the same terms as the compensation

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pursuant to Section 3 hereof. For purposes of implementing the provisions of this Section 7, the
date on which any such succession becomes effective shall be deemed the Date of Termination.

         	(b)         This Agreement and all rights of the Employee hereunder shall inure to the
benefit of and be enforceable by the Employee's personal and legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees. If the Employee should die
while any amounts would still be payable to the Employee hereunder if the Employee had
continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance
with the terms of this Agreement to the Employee's devisee, legatee or other designee or if there
is no such designee, to the Employee's estate.

         8.         Termination of Prior Severance Agreement. Upon execution of this agreement by
the Employee, the Prior Severance Agreement shall terminate and have no further force and
effect. Regardless of whether any benefits are paid to the Employee under this Agreement, no
benefits shall be paid to the Employee under the Prior Severance Agreement.

         9.         Notice.  For the purposes of this Agreement, notices and all other communications
provided for in the Agreement shall be in writing and shall be deemed to have been duly given
when personally delivered or sent by certified mail, return receipt requested, postage prepaid, to
the Company at its home office, to the attention of the Board of Directors with a copy to the
Secretary of the Company, or, it to the Employee, to such home or other address as the Employee
has most recently provided in writing to the Company.

         10.        Amendments. No amendments or additions to this Agreement hall be binding unless
in writing and signed by both parties, except as herein otherwise provided.

         11.        Headings. The headings used in this Agreement are included solely for convenience
and shall not affect, or be used in connection with, the interpretation of this Agreement.

         12.        Severablility. The provisions of this Agreement shall be deemed severable and the
invalidity or unenforceability of any provision shall not affect the validity or enforceablity of the
other provisions hereof.

         13.        Governing Law. This Agreement shall be governed by the laws of the United States
to the extent applicable and otherwise by the laws of the State of California.

         14.        Arbitration. Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by non-binding arbitration in accordance with the rules of
the American Arbitration Association then in effect. Judgment may be entered on the arbitrator's
award in any court having jurisdiction, and shall include an award of attorneys fees and costs to
the prevailing party.

         The parties have executed this Agreement as of the day and year first above written.

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

		ITLA CAPITAL CORPORATION

/s/George W. Haligowski

		By:	 George W. Haligowski
		Its:	 Chairman, President and Chief Executive  Officer
	 
	 
		EMPLOYEE

/s/Norval L. Bruce
Norval L. Bruce

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EXHIBIT 10.5

CHANGE IN CONTROL SEVERANCE AGREEMENT

THIS CHANGE IN CONTROL SEVERANCE AGREEMENT (the "Agreement") is made and
entered into as of this 1st day of February, 2006, by and between ITLA Capital Corporation (the
"Company"), and Timothy M. Doyle (the "Employee").

         WHEREAS, the Employee is currently serving as Executive Managing Director, Chief
Financial Officer of the Company; and

         WHEREAS, the Board of Directors of the Company (the "Board of Directors") recognizes
that, as is the case with publicly held corporations generally, the possibility of a change in control
of the Company may exist and that such possibility, and the uncertainty and questions which it
may raise among management, may result in the departure or distraction of key management
personnel to the detriment of the Company and its stockholders;

         	WHEREAS, the Employee is a party to that certain Change in Control Severance
Agreement dated May 12, 1998 with the Company under which the Employee is entitled to
certain severance benefits under certain conditions (the "Prior Severance Agreement"), which he
or she is willing to terminate in consideration of this Agreement's becoming effective;

         WHEREAS, the Board of Directors believes it is in the best interests of the Company to
enter into this Agreement with the Employee in order to assure continuity of management of the
Company and to reinforce and encourage the continued attention and dedication of the Employee
to the Employee's assigned duties without distraction in the face of potentially disruptive
circumstances arising from the possibility of a change in control of the Company, although no
such change is now contemplated; and

         WHEREAS, the Board of Directors has approved and authorized the execution of this
Agreement with the Employee;

         NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and
agreements of the parties herein, it is AGREED as follows:

         1.         Definitions.

         	(a)         The term "Change in Control" means the occurrence of any of the following events
with respect to the Company: (1) any person (as the term is used in section 13(d) and 14(d) of the
Securities Exchange Act of 1934 (the "Exchange Act") is or becomes the beneficial owner (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly of securities of the Company
representing 33.33% or more of the Company's outstanding securities; (2) individuals who are
members of the Board of Directors of the Company on the date hereof (the "Incumbent Board")
cease for any reason to constitute at least a majority thereof, provided that any person becoming a
director subsequent to the date hereof whose election was approved by a vote of at least two
thirds of the directors comprising the Incumbent Board, or 

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whose nomination for election by the
Company's stockholders was approved by the nominating committee serving under an Incumbent
Board, shall be considered a member of the Incumbent Board; (3) a reorganization, merger,
consolidation, sale of all or substantially all of the assets of the Company or a similar transaction
in which the Company is not the resulting entity (unless the continuing ownership requirements
clause (4) below are met with respect to the resulting entity); or (4) a merger or consolidation of
the Company with any other corporation other than a merger or consolidation in which the voting
securities of the Company outstanding immediately prior thereto represent at least 66.67% of the
total voting power represented by the voting securities of the Company or the surviving entity
outstanding immediately after such merger or consolidation. The term "Change in Control" shall
not include: (1) an acquisition of securities by an employee benefit plan of the Company; or (2)
any of the above mentioned events or occurrences which require but do not receive the requisite
government or regulatory approval to bring the event or occurrence to fruition.

         	(b)         The term "Disability" means the Employee's absence from his or her duties with
the Company on a full time basis for six consecutive months as a result of his or her incapacity
due to mental or physical illness, unless within 30 days after the Company gives the Employee
written notice of termination of employment for such reason the Employee shall have returned to
full time performance of his or her duties.

         	(c)         The term "Date of Termination" means the date specified in the Notice of
Termination, given pursuant to Section 4 of this Agreement, provided that if within 15 days after
any Notice of Termination for Cause is given or, if later, prior to the Date of Termination
specified in such Notice, the Employee notifies the Company that a dispute exists concerning the
Notice of Termination, then the Date of Termination shall be the date on which the dispute is
finally determined, whether by mutual written agreement of the parties, by a binding arbitration
award, or by a final judgment, order or decree of a court of competent jurisdiction (which is not
appealable or with respect to which the time for appeal therefrom has expired and no appeal has
been perfected); and provided further that the Date of Termination shall be extended by a notice
of dispute only if such notice is given in good faith and sets forth in reasonable detail the facts and
circumstances that are the basis for the dispute, and the Employee pursues the resolution of such
dispute with reasonable diligence. For purposes of this Section 1(c), a "dispute" extending the
Date of Termination shall be limited to a dispute as to whether the termination was a
"Termination for Cause" by the Company.  Notwithstanding the pendency of any such dispute,
the Company shall continue to pay the Employee the Employee's full base salary at the rate in
effect when the Notice of Termination was given and continue the Employee as a participant in all
benefit plans in which the Employee was participating when the Notice of Termination was given)
unless continued employment is a requirement for participation in any such benefit plan),
until the dispute is finally resolved in accordance with this Section 1(c).

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         	(d)         The term "Termination without Cause" means the termination of the employment
of the Employee without the Employee's express written consent for any reason other than a
Termination for Cause within six months prior to or within thirty-six months after a Change in
Control or a termination by the Employee for any reason within twelve months after a Change in
Control.

         	(e)         The term "Notice of Termination" means a notice of termination of the
Employee's employment pursuant to Section 4 of this Agreement.

         	(f)         The terms "Termination for Cause" and "Terminated for Cause" mean termination
by the Company of the employment of the Employee because of (i) willful and continued failure
by the Employee substantially to perform his or her duties (other than a failure resulting from
physical or mental illness) after a demand for substantial performance is delivered to the Employee
by the Chairman of the Board of Directors or the Chief Executive Officer of the Company which
specifically identifies the manner in which the Employee has not substantially performed his or her
duties, (ii) the Employee's willful dishonesty, incompetence, willful misconduct, breach of
fiduciary duty involving personal profit, intentional failure to perform stated duties, willful
violation of any law, rule, regulation, or final cease-and-desist order, relating to the Employee's
employment with the Company or otherwise interfering with the Employee's ability to carry out
the duties of the employment, or material breach of any provision of this Agreement or any
employment agreement between the Company and the Employee; provided that no act or failure
to act shall be considered "willful" unless done or omitted to be done by the Employee in bad faith
and without reasonable belief that the act or omission was in or not opposed to the beat interests
of the Company. Any act or failure to act based upon authority pursuant to a resolution duly
adopted by the Board of Directors or upon the advice of counsel for the Company shall be
conclusively presumed to be done or omitted to be done in good faith and in the beat interacts of
the Company. The Employee's attention to matters not directly related to the business of the
Company shall not provide a basis for Termination for Cause if the Board of Directors or the
Chief Executive Officer of the Company has approved the Employee's engaging in such activities.
The Employee shall not be deemed to have been Terminated for Cause unless and until the
Company has delivered to the Employee a notice containing a resolution adopted by not less than
three-quarters of the entire membership of the Board of Directors at a meeting called and held for
the purpose, after reasonable notice to the Employee and opportunity for him to appear with
counsel before the Board of Directors, finding that in the good faith opinion of the Board of
Directors the Employee has engaged in conduct described in this Section 1(f) and specifying the
particulars in detail.

         2.         Term. The term of this Agreement shall be three years from the date first written above,
provided that on each anniversary of such date, the term shall be extended for an additional year
unless at least 90 days prior such anniversary, either the Company or the Employee gives notice to
the other that the term of this Agreement shall not be extended further, and provided further that
notwithstanding the delivery of any such notice, the term of this Agreement shall be extended until
the expiration of 36 months following the date upon which a Change in Control shall have
occurred during the term of the Agreement including extensions of the term pursuant to the first
proviso of this sentence.

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         3.         Severance Benefits.

         	(a)         In the event of a Termination without Cause, the Company shall, (1) pay to the
Employee in a lump sum in cash within 25 business days after the Date of Termination an amount
equal to the sum of (i) 299% of the Employee's "base amount" as defined under Section 280G of
the Internal Revenue Code of 1986, as amended (the "Code"), but such amount shall not exceed
$1,250,000; (2) provide to the Employee for thirty-six months following the Date of Termination,
such health, dental and life insurance benefits as the Company maintained for the Employee at the
Date of Termination on terms as favorable to the Employee as applied at the Date of Termination,
or at the election of the Employee (or, notwithstanding the election of the Employee at the
election of the Company if coverage under the Company's group plan is not available to the
Employee) cash in an amount equal to the premium cost being paid by the company with respect
to the Employee for such benefits immediately prior to the Date of Termination); (3) transfer to
Employee title to the Company owned vehicle currently used by the Employee, if any, with the
Company paying all coats, licensing fees and taxes (excluding income taxes) associated with the
transfer of title, or in the event the Employee receives a monthly cash car allowance in lieu of use
of a Company vehicle, the Company shall pay to the Employee pursuant to this paragraph an
additional sum equal to 36 times the greater of the monthly car allowance in effect on the date of
the Change of Control or the Date of Termination; (4) and vesting of all of Employee's
outstanding stock options and/or restricted stock awards with the Company or its affiliates. The
provision of any medical benefits under this Section 3(a) shall not extend to the period for the
continuation of group health benefits under the COBRA health care continuation provisions of
Section 601 of the Employee Retirement Income Security Act of 1974 ("ERISA") or other
applicable state laws.  Nothing herein shall diminish the right of the Employee to receive any
earned and accrued bonus, on a pro rata basis, for the year in which Termination without Cause
occurs or to be compensated for accrued but unused vacation and sick time.

         	(b)         Notwithstanding any other provision of this Agreement, if the value and amounts
of benefits under this Agreement, together with any other amounts and the value of benefits
received or to be received by the Employee in connection with a Change in Control would cause
any amount to be nondeductible by the Company or any of its subsidiaries for federal income tax
purposes pursuant to Section 280G of the Code, then amounts and benefits under this Agreement
shall be reduced (not less than zero) to the extent necessary so as to maximize amounts and the
value of benefits to the Employee without causing any amount to become nondeductible by the
Company or its subsidiaries pursuant to or by reason of Section 280G of the Code.  The
Employee shall determine the allocation of such reduction among payments and benefits to the
Employee.

         	(c)         Any payments made to the Employee pursuant to this Agreement are subject to
and conditioned upon their compliance with 12 U.S.C. §1828(k) and any regulations promulgated
thereunder.

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         4.         Notice of Termination. In the event that the Company desires to terminate the
employment of the Employee without his consent during the term of this Agreement in connection
with or after a Change in Control has occurred, the Company shall deliver to the Employee a
written notice of termination, stating (i) whether such termination constitutes Termination for
Cause, and, if so, setting forth in reasonable detail the facts and circumstances that are the basis
for the Termination for Cause, and (ii) specifying the Date of Termination. In the event that the
Employee determines in good faith that he or she has suffered Involuntary Termination of his
employment, the Employee shall send a written notice to the Company stating the circumstances
that constitute Involuntary Termination and the Date of Termination. No provision of this
Agreement shall be construed as providing to the Employee any right to be retained as an
employee of the Company.

         5.         No Mitigation. The Employee shall not be required to mitigate the amount of any
salary or other payment or benefit provided for in this Agreement by seeking other employment or
otherwise, nor shall the amount of any payment or benefit provided for in this Agreement be
reduced by any compensation earned by the Employee as the result of employment by another
employer, by retirement benefits after the date of termination or otherwise, except as expressly set
forth herein.

         6.         Attorneys and/or Fees. If the Employee is purportedly Terminated for Cause or
experiences a Termination without Cause and the Company denies payments and/or benefits
under Section 3 of this Agreement on the basis that the Employee experienced Termination for
Cause rather than a Termination without Cause, but it is determined by a court of competent
jurisdiction or by an arbitrator pursuant to Section 14 that cause as contemplated by Section 1(f)
of this Agreement did not exist for termination of the Employee's employment, or if in any event
it is determined by any such court or arbitrator that the Company has failed to make timely
payment of any amounts or provision of any benefits owed to the Employee under this
Agreement, the Employee shall be entitled to reimbursement for all reasonable costs, including
attorneys' fees, incurred in challenging such termination of employment or collecting such
amounts or benefits. Such reimbursement shall be in addition to all rights which the Employee is
otherwise entitled under this Agreement.

         7.         No Assignments.

         	(a)         This Agreement is personal to each of the parties hereto, and neither party
may assign or delegate any of its rights or obligations hereunder without first obtaining the written
consent of the other party; provided, however, that the Company shall require any successor or
assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company, by an assumption agreement in
form and substance satisfactory to the Employee, to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to
perform it if no such succession or assignment had taken place. Failure of the Company to obtain
such an assumption agreement prior to the effectiveness of any such succession or assignment
shall be a breach of this Agreement and shall entitle the Employee to compensation from the
Company in the same amount and on the same terms as the compensation 

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pursuant to Section 3 hereof. For purposes of implementing the provisions of this Section 7, the
date on which any such succession becomes effective shall be deemed the Date of Termination.

         	(b)         This Agreement and all rights of the Employee hereunder shall inure to the
benefit of and be enforceable by the Employee's personal and legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees. If the Employee should die
while any amounts would still be payable to the Employee hereunder if the Employee had
continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance
with the terms of this Agreement to the Employee's devisee, legatee or other designee or if there
is no such designee, to the Employee's estate.

         8.         Termination of Prior Severance Agreement. Upon execution of this agreement by
the Employee, the Prior Severance Agreement shall terminate and have no further force and
effect. Regardless of whether any benefits are paid to the Employee under this Agreement, no
benefits shall be paid to the Employee under the Prior Severance Agreement.

         9.         Notice.  For the purposes of this Agreement, notices and all other communications
provided for in the Agreement shall be in writing and shall be deemed to have been duly given
when personally delivered or sent by certified mail, return receipt requested, postage prepaid, to
the Company at its home office, to the attention of the Board of Directors with a copy to the
Secretary of the Company, or, it to the Employee, to such home or other address as the Employee
has most recently provided in writing to the Company.

         10.        Amendments. No amendments or additions to this Agreement hall be binding unless
in writing and signed by both parties, except as herein otherwise provided.

         11.        Headings. The headings used in this Agreement are included solely for convenience
and shall not affect, or be used in connection with, the interpretation of this Agreement.

         12.        Severablility. The provisions of this Agreement shall be deemed severable and the
invalidity or unenforceability of any provision shall not affect the validity or enforceablity of the
other provisions hereof.

         13.        Governing Law. This Agreement shall be governed by the laws of the United States
to the extent applicable and otherwise by the laws of the State of California.

         14.        Arbitration. Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by non-binding arbitration in accordance with the rules of
the American Arbitration Association then in effect. Judgment may be entered on the arbitrator's
award in any court having jurisdiction, and shall include an award of attorneys fees and costs to
the prevailing party.

         The parties have executed this Agreement as of the day and year first above written.

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

		ITLA CAPITAL CORPORATION

/s/George W. Haligowski

		By:	 George W. Haligowski
		Its:	 Chairman, President and Chief Executive  Officer
	 
	 
		EMPLOYEE

/s/Timothy M. Doyle
Timothy M. Doyle

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