Document:

Exhibit
10.4

LANDMARK
DIRECTOR-SHAREHOLDER’S AGREEMENT

Chief
Executive Officer

This Landmark Director-Shareholder’s Agreement (“Agreement”), dated as
of February 22, 2007 is entered into by and between 1st Pacific Bancorp, a
California corporation (“Bancorp”), and 1st Pacific Bank, a California state
chartered bank (“Bank”), on one hand and F.J. “Rick” Mandelbaum (“Shareholder”),
on the other hand.

RECITALS

A.                                   Bancorp, Bank and Landmark National Bank,
a national banking association (“Landmark”) entered into that certain Agreement
and Plan of Reorganization and Merger of even date herewith (the “Reorganization
Agreement”).

B.                                     Shareholder is a member of the Board of
Directors of Landmark and owns shares of the common stock, $5.00 par value, of
Landmark (“Landmark Stock”).

C.                                     Shareholder is willing to agree to vote
or cause to be voted all shares of Landmark Stock with respect to which
Shareholder has voting power on the date hereof or hereafter acquired to
approve the Reorganization Agreement and the transactions contemplated thereby
and all requisite matters related thereto.

D.                                    Unless otherwise provided in this
Agreement, capitalized terms shall have the meanings given to them in the
Reorganization Agreement.

NOW THEREFORE, in consideration of the premises and of the respective
representations, warranties and covenants, agreements and conditions contained
herein and in the Reorganization Agreement, and intending to be legally bound
hereby, Bancorp and Bank and Shareholder agree as follows:

Article I

Director-Shareholder’s
Agreement

1.1          Agreement to Vote.  Shareholder shall vote or cause to be voted
at any meeting of shareholders of Landmark to approve the Reorganization
Agreement and the transactions contemplated thereby (the “Shareholders’ Meeting”),
all of the shares of Landmark Stock as to which Shareholder has sole or shared
voting power (the “Shares”), as of the record date established to determine
shareholders who have the right to vote at any such Shareholders’ Meeting or to
give consent to action in writing (the “Record Date”), to approve the
Reorganization Agreement, the Agreement of Merger and the transactions
contemplated thereby, including the principal terms of the Reorganization and
Merger.

 

 1.2         Restrictions on Dispositions.  Shareholder agrees that, from and after the
date of this Agreement and through the Effective Time, he or she will not take
any action that will alter or affect in any way the right to vote the Shares,
except (i) with the prior written consent of Bancorp or (ii) to change
such right from that of a shared right of Shareholder to vote the Shares to a
sole right of Shareholder to vote the Shares.

 

 1.3         Shareholder Approval.  Shareholder shall (i) recommend
shareholder approval of the Reorganization Agreement, the Agreement of Merger and
the transactions contemplated thereby by the Landmark shareholders at the
Shareholders’ Meeting and (ii) advise the Landmark shareholders to reject
any subsequent proposal or offer received by Landmark relating to any purchase,
sale, acquisition, merger or other form of business combination involving
Landmark or any of its assets, equity securities or debt securities and to
proceed with the transactions contemplated by the Reorganization Agreement;
provided, however, that Shareholder shall not be obligated to take any action
specified above if the Board of Directors of Landmark is advised in writing by
outside legal counsel, Gary Steven Findley & Associates, that, in the
exercise of his or her fiduciary duties, a director of Landmark should not take
such action.

Article
II

Representations
and Warranties of Shareholder

Shareholder represents and warrants to Bancorp and
Bank that the statements set forth below are true and correct as of the date of
this Agreement, except those that are specifically as of a different date:

 2.1         Ownership
and Related Matters.

(a)           Schedule 2.1(a) hereto
correctly sets forth the number of Shares and the nature of Shareholder’s
voting power with respect thereto as of the date hereof.  Within five business days after the Record Date,
Shareholder shall amend said Schedule 2.1(a) to correctly reflect the
number of Shares and the nature of Shareholder’s voting power with respect
thereto as of the Record Date.

(b)           There are no proxies, voting trusts
or other agreements or understandings to or by which Shareholder or his or her
spouse is a party or bound or that expressly requires that any of the Shares be
voted in any specific manner other than as provided in this Agreement.

 2.2         Authorization;
Binding Agreement.  Shareholder
has the legal right, power, capacity and authority to execute, deliver and
perform this Agreement, and this Agreement is the valid and binding obligation
of Shareholder enforceable in accordance with its terms, except as the
enforcement thereof may be limited by general principles of equity.

 2.3         Noncontravention.
 The execution,
delivery and performance of this Agreement by Shareholder will not
(a) conflict with or result in the breach of, or default or actual or
potential loss of any benefit under, any provision of any agreement, instrument
or obligation to which Shareholder or his or her spouse is a party or by which
any of Shareholder’s properties or his or her spouse’s properties are bound, or
give any other party to any such agreement, instrument or obligation a right to
terminate or modify any term thereof; (b) require any third party
consents; (c) result in the creation or imposition of any encumbrance on
any of the Shares or any other assets of Shareholder or his or her spouse; or
(d) violate any applicable laws or rules to which Shareholder or his or
her spouse is subject.

Article III

General

 3.1         Amendments.  To the fullest extent
permitted by law, this Agreement and any schedule or exhibit attached hereto
may be amended by agreement in writing of the parties hereto at any time.

 3.2         Integration.  This Agreement constitutes
the entire agreement between the parties pertaining to the subject matter
hereof and (except for the Reorganization Agreement if executed by Shareholder)
supersedes all prior agreements and understandings of the parties in connection
therewith.

 3.3         Specific
Performance.  Shareholder,
Bancorp and Bank each expressly acknowledge that, in view of the uniqueness of
the obligations of Shareholder contemplated hereby, neither Bancorp nor Bank
would not have an adequate remedy at law for money damages in the event that
this Agreement has not been performed by Shareholder in accordance with its
terms, and therefore Shareholder, Bancorp and Bank agree that Bancorp and Bank
shall be entitled to specific enforcement of the terms hereof in addition to
any other remedy to which either may be entitled at law or in equity.

 3.4         Termination.  This Agreement shall
terminate automatically without further action at the earlier of four years
following the Effective Time of the Reorganization or the termination of the
Reorganization Agreement in accordance with its terms.  Upon termination of this Agreement as
provided herein, the respective obligations of the parties hereto shall
immediately become void and have no further force and effect.

 3.5         No
Assignment.  Neither
this Agreement nor any rights, duties or obligations hereunder shall be
assignable by Bancorp, Bank or Shareholder, in whole or in part.  Any attempted assignment in violation of this

  
 2
 

prohibition shall be null and void. 
Subject to the foregoing, all of the terms and provisions hereof shall
be binding upon, and inure to the benefit of, the successors of the parties
hereto.  Notwithstanding the foregoing,
nothing herein shall bind any transferee of Shareholder’s shares of common
stock of Bancorp after the Effective Time or convey any rights to such
transferee under this Agreement.

 

 3.6         Headings.  The descriptive headings of
the several Articles and Sections of this Agreement are inserted for convenience
only and do not constitute a part of this Agreement.

 3.7         Counterparts.  This Agreement may be
executed in one or more counterparts, all of which shall be considered one and
the same agreement and shall become effective when one or more counterparts have
been signed by each party hereto and delivered to each party hereto.

 3.8         Gender,
Number, and Tense. 
Throughout this Agreement, unless the context otherwise requires,

(i)                                     the
masculine, feminine and neuter genders each includes the other;

(ii)                                  the
singular includes the plural, and the plural includes the singular; and

(iii)                               the
past tense includes the present, and the present tense includes the past.

 3.9         Notices.  Any notice or communication
required or permitted hereunder, shall be deemed to have been given if in
writing and (a) delivered in person, (b) delivered by confirmed
facsimile transmission, or (c) mailed by certified or registered mail,
postage prepaid with return receipt requested, addressed as follows:

If to Bancorp:

1st Pacific Bancorp

4275 Executive Square, Suite 650

La Jolla, CA 
92037

Fax No. (858) 232-8311

Attention:  Dr. James G. Knight, Chairman

With a copy to:

Luce, Forward, Hamilton & Scripps, LLP

600 West Broadway, Suite 2600

San Diego, California 
92101

Fax:  (619)
232-8311

Attention:  Kurt L. Kicklighter, Esq.

If to Shareholder:

F. Richard Mandelbaum

C/O Landmark National
Bank

937 Lomas Santa Fe Drive

P.O. Box 1429

Solana Beach, CA 92075

Fax No. (858) 509-0898

  
 3
 

With a copy to:

Gary Steven
Findley & Associates

1470 North Hundley
Street

Anaheim,
California 92806

Fax:  (714) 630-7910

Attention: Gary Steven Findley

or at such other address and to the attention of such other person as a
party may notice to the other in accordance with this Section 3.9.  Any such notice or communication shall be
deemed received on the date delivered personally or delivered by confirmed
facsimile transmission or on the third Business Day after it was sent by
certified or registered mail, postage prepaid with return receipt requested.

 3.10       Governing
Law.  This
Agreement shall be construed in accordance with, and governed by, the laws of
the State of California, except to the extent preempted by the laws of the
United States.

 3.11       Not
in Director Capacity. 
Except to the extent set forth in Sections 1.4 and 1.5, no person
executing this Agreement who is, during the term hereof, a director of
Landmark, makes any agreement or understanding herein in his or her capacity as
such director.  The parties sign solely
in their capacities as owners of or holders of the power to vote shares of
Landmark Stock.

 3.12       Attorneys’
Fees.  If any legal
action or any arbitration upon mutual agreement is brought for the enforcement
of this Agreement or because of an alleged dispute, breach or default in
connection with this Agreement, the prevailing party shall be entitled to
recover reasonable attorneys’ fees and other costs and expenses incurred in
that action or proceeding, in addition to any other relief to which it may be
entitled.

 3.13       Regulatory
Compliance.  Each
of the provisions of this Agreement is subject to compliance with all
applicable regulatory requirements and conditions.

 3.14       Severability
and the Like.  If
any provision of this Agreement shall be held by a court of competent
jurisdiction to be unreasonable as to duration, activity or subject, it shall
be deemed to extend only over the maximum duration, range of activities or
subjects as to which such provision shall be valid and enforceable under
applicable law.  If any provisions shall,
for any reason, be held by a court of competent jurisdiction to be invalid,
illegal or unenforceable, such invalidity, illegality or unenforceability shall
not affect any other provision of this Agreement, but this Agreement shall be
construed as if such invalid, illegal or unenforceable provision had never been
contained herein.

 3.15       Waiver
of Breach.  Any
failure or delay by Bancorp and/or Bank in enforcing any provision of this
Agreement shall not operate as a waiver thereof.  The waiver by Bancorp and/or Bank of a breach
of any provision of this Agreement by the Shareholder shall not operate or be
construed as a waiver of any subsequent breach or violation thereof.  All waivers shall be in writing and signed by
the party to be bound.

[Remainder
of Page Intentionally Left Blank. Signature Page to Follow]

 

  
 4
 

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

 

	
  1ST PACIFIC BANCORP

  	
   

  	
  1ST PACIFIC BANK OF CALIFORNIA

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ A. Vincent
  Siciliano

  	
   

  	
  By:

  	
  /s/ A. Vincent Siciliano

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Its:

  	
  President

  	
   

  	
  Its:

  	
  President

  

 

SHAREHOLDER

	
    By:

  	
   

  	
  /s/ F.J. “Rick” Mandelbaum

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name

  	
   

  	
  F.J. “Rick” Mandelbaum

  	
   

  

 

  
 5
 

SPOUSAL
CONSENT

I am the spouse of                                                ,
Shareholder in the above Agreement.  I
understand that I may consult independent legal counsel as to the effect of
this Agreement and the consequences of my execution of this Agreement and, to
the extent I felt it necessary, I have discussed it with legal counsel.  I hereby confirm this Agreement and agree
that it shall bind my interest in the Shares, if any.

	
  

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  (Shareholder’s
  Spouse’s Name)

  

 

  
 6
 

SCHEDULE 2.1(a)

	
  Number of Shares Owned

  	
   

  	
  Nature of Voting Power

  
	
   

  	
   

  	
   

  
	
  1,500

  	
   

  	
  direct

  

 

  
 7Exhibit
10.5

BANCORP
DIRECTOR-SHAREHOLDER’S AGREEMENT

This Bancorp
Director-Shareholder’s Agreement (“Agreement”), dated as of February 22, 2007
is entered into by and between Landmark National Bank, a national banking
association (“Landmark”), and                                                 
(“Shareholder”).

RECITALS

A.                                   1st Pacific Bancorp, a California
corporation (“Bancorp”), 1st Pacific Bank of California, a California state
chartered bank, and Landmark entered into that certain Agreement and Plan of
Reorganization and Merger of even date herewith (the “Reorganization Agreement”).

B.                                     Shareholder is a member of the Board of
Directors of Bancorp and owns shares of the common stock, no par value, of
Bancorp (“Bancorp Stock”).

C.                                     Shareholder is willing to agree to vote
or cause to be voted all shares of Bancorp Stock with respect to which
Shareholder has voting power on the date hereof or hereafter acquired to
approve the Reorganization Agreement and the transactions contemplated thereby
and all requisite matters related thereto.

D.                                    Unless otherwise provided in this
Agreement, capitalized terms shall have the meanings given to them in the
Reorganization Agreement.

NOW THEREFORE, in
consideration of the premises and of the respective representations, warranties
and covenants, agreements and conditions contained herein and in the
Reorganization Agreement, and intending to be legally bound hereby, Landmark
and Shareholder agree as follows:

Article
I

Director-Shareholder’s
Agreement

1.1          Agreement
to Vote.  Shareholder
shall vote or cause to be voted at any meeting of shareholders of Bancorp to
approve the Reorganization Agreement and the transactions contemplated thereby
(the “Shareholders’ Meeting”), all of the shares of Bancorp Stock as to which
Shareholder has sole or shared voting power (the “Shares”), as of the record
date established to determine shareholders who have the right to vote at any
such Shareholders’ Meeting or to give consent to action in writing (the “Record
Date”), to approve the Reorganization Agreement, the Agreement of Merger and
the transactions contemplated thereby, including the principal terms of the
Reorganization and Merger.

1.2          Restrictions
on Dispositions. 
Shareholder agrees that, from and after the date of this Agreement and
through the Effective Time, he or she will not take any action that will alter
or affect in any way the right to vote the Shares, except (i) with the
prior written consent of Landmark or (ii) to change such right from that
of a shared right of Shareholder to vote the Shares to a sole right of
Shareholder to vote the Shares.

1.3          Shareholder
Approval. 
Shareholder shall (i) recommend shareholder approval of the
Reorganization Agreement, the Agreement of Merger and the transactions
contemplated thereby by the Bancorp shareholders at the Shareholders’ Meeting
and (ii) advise the Bancorp shareholders to reject any subsequent proposal
or offer received by Bancorp relating to any purchase, sale, acquisition,
merger or other form of business combination involving Bancorp or any of its
assets, equity securities or debt securities and to proceed with the
transactions contemplated by the Reorganization Agreement; provided, however,
that Shareholder shall not be obligated to take any action specified above if
the Board of Directors of Bancorp is advised in writing by outside legal
counsel, Luce, Forward, Hamilton & Scripps, LLP, that, in the exercise of
his or her fiduciary duties, a director of Bancorp should not take such action.

Article
II

Representations
and Warranties of Shareholder

Shareholder
represents and warrants to Landmark that the statements set forth below are
true and correct as of the date of this Agreement, except those that are
specifically as of a different date:

2.1          Ownership
and Related Matters.

(a)           Schedule 2.1(a) hereto
correctly sets forth the number of Shares and the nature of Shareholder’s
voting power with respect thereto as of the date hereof.  Within five business days after the Record
Date, Shareholder shall amend said Schedule 2.1(a) to correctly reflect
the number of Shares and the nature of Shareholder’s voting power with respect
thereto as of the Record Date.

(b)           There are no proxies, voting trusts
or other agreements or understandings to or by which Shareholder or his or her
spouse is a party or bound or that expressly requires that any of the Shares be
voted in any specific manner other than as provided in this Agreement.

2.2          Authorization;
Binding Agreement. 
Shareholder has the legal right, power, capacity and authority to
execute, deliver and perform this Agreement, and this Agreement is the valid
and binding obligation of Shareholder enforceable in accordance with its terms,
except as the enforcement thereof may be limited by general principles of
equity.

2.3          Noncontravention.  The execution, delivery and performance of
this Agreement by Shareholder will not (a) conflict with or result in the
breach of, or default or actual or potential loss of any benefit under, any
provision of any agreement, instrument or obligation to which Shareholder or his
or her spouse is a party or by which any of Shareholder’s properties or his or
her spouse’s properties are bound, or give any other party to any such
agreement, instrument or obligation a right to terminate or modify any term
thereof; (b) require any third party consents; (c) result in the
creation or imposition of any encumbrance on any of the Shares or any other
assets of Shareholder or his or her spouse; or (d) violate any applicable
laws or rules to which Shareholder or his or her spouse is subject.

Article
III

General

3.1          Amendments.  To the fullest extent permitted by law, this
Agreement and any schedule or exhibit attached hereto may be amended by
agreement in writing of the parties hereto at any time.

3.2          Integration.  This Agreement constitutes the entire
agreement between the parties pertaining to the subject matter hereof and
(except for the Reorganization Agreement if executed by Shareholder) supersedes
all prior agreements and understandings of the parties in connection therewith.

3.3          Specific
Performance. 
Shareholder and Landmark each expressly acknowledges that, in view of
the uniqueness of the obligations of Shareholder contemplated hereby, Landmark
would not have an adequate remedy at law for money damages in the event that
this Agreement has not been performed by Shareholder in accordance with its
terms, and therefore Shareholder and Landmark agree that Landmark shall be
entitled to specific enforcement of the terms hereof in addition to any other
remedy to which it may be entitled at law or in equity.

3.4          Termination.  This Agreement shall terminate automatically
without further action at the earlier of four years following the Effective
Time of the Reorganization or the termination of the Reorganization Agreement
in accordance with its terms.  Upon
termination of this Agreement as provided herein, the respective obligations of
the parties hereto shall immediately become void and have no further force and
effect.

3.5          No
Assignment. 
Neither this Agreement nor any rights, duties or obligations hereunder
shall be assignable by Landmark or Shareholder, in whole or in part.  Any attempted assignment in violation of this
prohibition shall be null and void. 
Subject to the foregoing, all of the terms and provisions hereof shall
be binding upon, and inure to the benefit of, the successors of the parties
hereto.  Notwithstanding the foregoing,
nothing herein 

shall bind any
transferee of Shareholder’s Shares after the Effective Time or convey any
rights to such transferee under this Agreement.

3.6          Headings.  The descriptive headings of the several
Articles and Sections of this Agreement are inserted for convenience only and
do not constitute a part of this Agreement.

3.7          Counterparts.  This Agreement may be executed in one or more
counterparts, all of which shall be considered one and the same agreement and
shall become effective when one or more counterparts have been signed by each
party hereto and delivered to each party hereto.

3.8          Gender,
Number, and Tense. 
Throughout this Agreement, unless the context otherwise requires,

(i)                                     the
masculine, feminine and neuter genders each includes the other;

(ii)           the singular includes the plural, and
the plural includes the singular; and

(iii)          the past tense includes the present,
and the present tense includes the past.

3.9          Notices.  Any notice or communication required or
permitted hereunder, shall be deemed to have been given if in writing and
(a) delivered in person, (b) delivered by confirmed facsimile
transmission, or (c) mailed by certified or registered mail, postage
prepaid with return receipt requested, addressed as follows:

If
to Landmark:

Landmark National Bank

937 Lomas Santa Fe Drive

Solana Beach, California
92075

Fax No. (858)
332-1018

Attention:  F.J. “Rick” Mandelbaum, President

With
a copy to:

Gary Steven
Findley & Associates

1470 North Hundley Street

Anaheim, California 92806

Fax:  (714) 630-7910

Attention:  Gary Steven Findley

If
to Shareholder:

 

c/o 1st Pacific Bank of California

4275 Executive Square,
Suite 650

La
Jolla, California 92037

With
a copy to:

Luce, Forward,
Hamilton & Scripps, LLP

600 West Broadway,
Suite 2600

San Diego,
California 92101

Fax No. (619)
232-8311

Attention:  Kurt L. Kicklighter, Esq.

or at such other
address and to the attention of such other person as a party may notice to the
other in accordance with this Section 3.9. 
Any such notice or communication shall be deemed received on the date
delivered personally or delivered by confirmed facsimile transmission or on the
third Business Day after it was sent by certified or registered mail, postage
prepaid with return receipt requested.

3.10        Governing
Law.  This
Agreement shall be construed in accordance with, and governed by, the laws of
the State of California, except to the extent preempted by the laws of the
United States.

3.11        Not in
Director Capacity. 
No person executing this Agreement who is, during the term hereof, a
director of Bancorp, makes any agreement or understanding herein in his or her
capacity as such director.  The parties
sign solely in their capacities as owners of or holders of the power to vote
shares of Bancorp Stock.

3.12        Attorneys’
Fees.  If any legal
action or any arbitration upon mutual agreement is brought for the enforcement
of this Agreement or because of an alleged dispute, breach or default in
connection with this Agreement, the prevailing party shall be entitled to
recover reasonable attorneys’ fees and other costs and expenses incurred in
that action or proceeding, in addition to any other relief to which it may be
entitled.

3.13        Regulatory
Compliance.  Each
of the provisions of this Agreement is subject to compliance with all
applicable regulatory requirements and conditions.

3.14        Severability
and the Like.  If
any provision of this Agreement shall be held by a court of competent
jurisdiction to be unreasonable as to duration, activity or subject, it shall
be deemed to extend only over the maximum duration, range of activities or
subjects as to which such provision shall be valid and enforceable under
applicable law.  If any provisions shall,
for any reason, be held by a court of competent jurisdiction to be invalid,
illegal or unenforceable, such invalidity, illegality or unenforceability shall
not affect any other provision of this Agreement, but this Agreement shall be
construed as if such invalid, illegal or unenforceable provision had never been
contained herein.

3.15        Waiver of
Breach.  Any
failure or delay by Landmark in enforcing any provision of this Agreement shall
not operate as a waiver thereof.  The
waiver by Landmark of a breach of any provision of this Agreement by the
Shareholder shall not operate or be construed as a waiver of any subsequent
breach or violation thereof.  All waivers
shall be in writing and signed by the party to be bound.

[Remainder of Page Intentionally Left
Blank. Signature Page to Follow]

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

	
  LANDMARK NATIONAL BANK

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SHAREHOLDER

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
				

 

SPOUSAL
CONSENT

I am the spouse of
                                      ,
Shareholder in the above Agreement.  I
understand that I may consult independent legal counsel as to the effect of
this Agreement and the consequences of my execution of this Agreement and, to
the extent I felt it necessary, I have discussed it with legal counsel.  I hereby confirm this Agreement and agree
that it shall bind my interest in the Shares, if any.

	
   

  	
   

  	
   

  
	
  

  	
  (Shareholder’s
  Spouse’s Name)

  	
   

  

 

SCHEDULE 2.1(a)

	
  Number of
  Shares Owned

  	
   

  	
  Nature of Voting Power

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