Document:

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                                                                   EXHIBIT 10.31

                             2000 CITY NATIONAL BANK
                      EXECUTIVE DEFERRED COMPENSATION PLAN

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                             2000 CITY NATIONAL BANK
                      EXECUTIVE DEFERRED COMPENSATION PLAN

                                TABLE OF CONTENTS

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                                                                                                                PAGE
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<S>      <C>                                                                                                    <C>
                                    ARTICLE I

                              TITLE AND DEFINITIONS

1.1      Title....................................................................................................1
1.2      Definitions..............................................................................................1

                                   ARTICLE II

                                  PARTICIPATION

2.1      Participation............................................................................................4

                                   ARTICLE III

                               DEFERRAL ELECTIONS

3.1      Elections to Defer Compensation..........................................................................5
3.2      Investment Elections.....................................................................................7

                                   ARTICLE IV

                                    ACCOUNTS

4.1      Deferral Account.........................................................................................9
4.2      Rollovers...............................................................................................10

                                    ARTICLE V

                                     VESTING

5.1      Deferral Account........................................................................................10

                                   ARTICLE VI

                                  DISTRIBUTIONS

6.1      Distribution of Deferred Compensation...................................................................11
6.2      Nonscheduled In-Service Withdrawals.....................................................................12
6.3      Hardship Withdrawals....................................................................................13
6.4      Inability to Locate Participant.........................................................................13
6.5      Death Benefit for Certain Participants..................................................................14
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<TABLE>
<S>      <C>                                                                                                    <C>
                                   ARTICLE VII

                                 ADMINISTRATION

7.1      Committee Action........................................................................................15
7.2      Powers and Duties of the Committee......................................................................15
7.3      Construction and Interpretation.........................................................................16
7.4      Information.............................................................................................16
7.5      Compensation, Expenses and Indemnity....................................................................16
7.6      Quarterly Statements....................................................................................16
7.7      Claims Procedure........................................................................................17

                                  ARTICLE VIII

                                  MISCELLANEOUS

8.1      Unsecured General Creditor..............................................................................18
8.2      Restriction Against Assignment..........................................................................18
8.3      Withholding.............................................................................................18
8.4      Amendment, Modification, Suspension or Termination......................................................19
8.5      Governing Law...........................................................................................19
8.6      Receipt or Release......................................................................................19
8.7      Payments on Behalf of Persons Under Incapacity..........................................................19
8.8      Headings, etc. Not Part of Agreement....................................................................19
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                             2000 CITY NATIONAL BANK
                      EXECUTIVE DEFERRED COMPENSATION PLAN
                        (EFFECTIVE AS OF JANUARY 1, 2000)

         City National Bank (the "Bank") hereby establishes the 2000 City
National Bank Executive Deferred Compensation Plan (the "Plan"), effective as of
January 1, 2000, to provide a tax-deferred capital accumulation opportunity to a
select group of management and highly compensated employees through deferral of
salary, bonuses and/or commissions.

                                    ARTICLE I
                              TITLE AND DEFINITIONS

1.1      TITLE.

         This Plan shall be known as the 2000 City National Bank Executive
Deferred Compensation Plan.

1.2      DEFINITIONS.

         Whenever the following words and phrases are used in this Plan, with
the first letter capitalized, they shall have the meanings specified below.

         "Account" shall mean a Participant's Deferral Account.

         "Bank" shall mean (a) City National Bank or any successor corporation,
(b) each corporation which is a member of a controlled group of corporations
(within the meaning of Section 414(b) of the Code) of which City National Bank
is a component member and (c) each entity (whether or not incorporated) which is
under common control with City National Bank, as such common control is defined
in Section 414(c) of the Code and regulations issued thereunder.

         "Beneficiary" or "Beneficiaries" shall mean the person or persons,
including a trustee, personal representative or other fiduciary, last designated
in writing by a Participant in accordance with procedures established by the
Committee to receive the benefits specified hereunder (other than those benefits
set forth in Section 6.5) in the event of the Participant's death. No
beneficiary designation shall become effective until it is filed with the
Committee, and no beneficiary designation of someone other than the
Participant's spouse shall be effective unless such designation is consented to
by the Participant's spouse on a form provided by and in accordance with
procedures established by the Committee. If there is no Beneficiary designation
in effect, or if there is no surviving designated Beneficiary, then the
Participant's surviving spouse shall be the Beneficiary. If there is no
surviving spouse to receive any benefits payable in accordance with the
preceding sentence, the duly appointed and currently acting personal

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representative of the Participant's estate (which shall include either the
Participant's probate estate or living trust) shall be the Beneficiary. In any
case where there is no such personal representative of the Participant's estate
duly appointed and acting in that capacity within 90 days after the
Participant's death (or such extended period as the Committee determines is
reasonably necessary to allow such personal representative to be appointed, but
not to exceed 180 days after the Participant's death), then Beneficiary shall
mean the person or persons who can verify by affidavit or court order to the
satisfaction of the Committee that they are legally entitled to receive the
benefits specified hereunder. In the event any amount is payable under the Plan
to a minor, payment shall not be made to the minor, but instead shall be paid
(a) to that person's living parent(s) to act as custodian, (b) if that person's
parents are then divorced, and one parent is the sole custodial parent, to such
custodial parent, or (c) if no parent of that person is then living, to a
custodian selected by the Committee to hold the funds for the minor under the
Uniform Transfers or Gifts to Minors Act in effect in the jurisdiction in which
the minor resides. If no parent is living and the Committee decides not to
select another custodian to hold the funds for the minor, then payment shall be
made to the duly appointed and currently acting guardian of the estate for the
minor or, if no guardian of the estate for the minor is duly appointed and
currently acting within 60 days after the date the amount becomes payable,
payment shall be deposited with the court having jurisdiction over the estate of
the minor.

         "Board of Directors" shall mean the board of directors of the Bank.

         "Bonus" shall mean any bonus payable to a Participant under any formal
cash incentive compensation program maintained by the Bank in addition to the
Participant's Salary.

         "Code" shall mean the Internal Revenue Code of 1986, as amended.

         "Commissions" shall mean any commissions payable to a Participant.

         "Committee" shall mean the Corporation's Benefits Committee.

         "Compensation" shall mean the Salary, Bonus and/or Commissions that the
Participant is entitled to for services rendered to the Bank.

         "Corporation" shall mean City National Corporation.

         "Deferral Account" shall mean the bookkeeping account maintained by the
Committee for each Participant that is credited with amounts equal to (a) the
portion of the Participant's Salary that he or she elects to defer, (b) the
portion of the Participant's Bonus that he or she elects to defer, (c) the
portion of the Participant's Commissions that he or she elects to defer, (d) the
Participant's Rollover Amount, if any, and (e) earnings or losses pursuant to
Section 4.1.

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         "Disability" shall mean an incapacity which has rendered the
Participant eligible to commence receiving benefits under the Bank's long-term
disability plan.

         "Earnings Rate" shall mean, for each Fund, an amount equal to the net
rate of gain or loss on the assets of such Fund during each business day.

         "Effective Date" shall mean January 1, 2000.

         "Eligible Employee" shall mean each officer of the Bank at the Senior
Vice President level or above that is regularly scheduled to work thirty (30) or
more hours per week.

         "Fund" or "Funds" shall mean one or more of the investment funds or
portfolios selected by the Committee pursuant to Section 3.2(b).

         "Initial Election Period" for an Eligible Employee shall mean the later
of: (a) the period beginning upon notification to the Participants of this Plan
and ending December 31, 1999; or (b) the thirty-day period following the
Eligible Employee's date of hire or if later the date on which an individual
becomes an Eligible Employee.

         "Participant" shall mean (a) any Eligible Employee who elects to defer
Compensation in accordance with Section 3.1 and complies with the requirements
of Section 2.1 and (b) any individual who is credited with a Rollover Amount
pursuant to Section 4.2.

         "Payment Eligibility Date" shall mean the first day of the month
following the end of the calendar quarter in which a Participant ceases to be
employed by the Bank, incurs a Disability or dies.

         "Plan" shall mean the 2000 City National Bank Executive Deferred
Compensation Plan set forth herein, now in effect, or as amended from time to
time.

         "Plan Year" shall mean the 12 consecutive month period beginning on
January 1 and ending the following December 31.

         "Plan Year Subaccounts" shall mean subaccounts of a Participant's
Deferral Account established to separately account for Compensation deferred
(and earnings or losses thereon) for each Plan Year in which a Participant
participates in the Plan and for any Rollover Amounts.

         "Prior Plan" shall mean the City National Bank Executive Deferred
Compensation Plan.

         "Rollover Amount" shall mean the amount determined in accordance with
Section 4.2.

         "Salary" shall mean the Participant's base salary.

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                                   ARTICLE II
                                  PARTICIPATION

2.1      PARTICIPATION.

         (a) GENERALLY. An Eligible Employee shall become a Participant in the
Plan by (i) electing to defer Compensation in accordance with Section 3.1, (ii)
if required by the Committee, filing a life insurance application form along
with his or her deferral election form, and (iii) satisfying any medical
underwriting requirement established by the Committee.

         (b) PARTICIPANTS WITH SPLIT-DOLLAR LIFE INSURANCE AGREEMENTS.
Notwithstanding the foregoing, unless the Committee provides otherwise, an
Eligible Employee who has entered into a Split-Dollar Life Insurance Agreement
with the Corporation must execute an "Agreement for Transfer of Policy and
Termination of Split-Dollar Life Insurance Agreement" in order to defer
Compensation under this Plan. Notwithstanding anything contained herein to the
contrary, (i) if an Eligible Employee is allowed to defer Compensation under
this Plan without executing an "Agreement for Transfer of Policy and Termination
of Split-Dollar Life Insurance Agreement" (a "Policy Transfer Agreement"), then
no portion of such Participant's account balance under the Prior Plan shall be
transferred to his or her Account under this Plan and (ii) if an Eligible
Employee is allowed to defer Compensation under this Plan prior to executing a
Policy Transfer Agreement, then no portion of such Participant's account balance
under the Prior Plan shall be transferred to his or her Account under this Plan
until such Participant executes a Policy Transfer Agreement.

         (c) DURATION OF PARTICIPATION. Any deferral election of a Participant
who ceases to be an Eligible Employee shall terminate effective as of December
31 of the Plan Year in which such cessation occurs (but shall apply to any bonus
earned during such Plan Year that becomes payable following the end of such Plan
Year).

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                                   ARTICLE III
                               DEFERRAL ELECTIONS

3.1      ELECTIONS TO DEFER COMPENSATION.

         (a) INITIAL ELECTION PERIOD. Subject to Section 2.1, each Eligible
Employee may elect to defer Compensation by filing with the Committee an
election that conforms to the requirements of this Section 3.1, on a form
provided and in a manner specified by the Committee, no later than the last day
of his or her Initial Election Period.

         (b) GENERAL RULE. Subject to the minimum deferral provisions of Section
3.1(c) below, the amount of Compensation which an Eligible Employee may elect to
defer is as follows:

                  (i)      Any percentage or dollar amount of Salary up to 100%;

                  (ii)     Any percentage or dollar amount of Bonus up to 100%;
                           and/or

                  (iii)    Any percentage or dollar amount of Commissions up to
                           100%;

provided, however, that no election shall be effective to reduce the
Compensation paid to an Eligible Employee for a calendar year to an amount which
is less than the sum of: (a) the amount that the Bank is required to withhold
from such Eligible Employee's Compensation for such calendar year for purposes
of federal, state and local (if any) income tax and employment tax (including
Federal Insurance Contributions Act (FICA) tax withholding); and (b) the amount
that the Bank is required to withhold from such Eligible Employee's Compensation
for such calendar year for contributions to any employee benefit plan (other
than this Plan).

         (c) MINIMUM DEFERRALS. For each Plan Year during which an Eligible
Employee is a Participant, the minimum amount that may be elected under Section
3.1(b) is $5,000. This $5,000 minimum deferral for any Plan Year may be met by a
combination of deferrals of Salary, Commissions and/or Bonus. If the
Compensation that the Participant has elected to defer for a Plan Year includes
a percentage of the Bonus payable in such Plan Year and the actual amount of
such Bonus to be deferred, when combined with the percentage of Salary and/or
Commissions elected to be deferred for the Plan Year, is less than $5,000, then
no portion of such Bonus shall be deferred under this Plan, no further Salary
and/or Commissions shall be deferred for such Plan Year and any Salary or
Commissions previously deferred for such Plan Year shall be refunded to the
Participant together with any earnings or losses that have been credited
pursuant to Section 4.1(c) of the Plan.

         (d) EFFECT OF INITIAL ELECTION. An election to defer Compensation
during the Initial Election Period shall be effective with respect to (i) Salary
and/or Commissions earned during the

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first pay period beginning after the date on which the Committee receives a
Participant's election to defer Compensation and each subsequent pay period
beginning in the same Plan Year and (ii) to the Bonus paid with respect to
services performed in the Plan Year for which the election is made.

         (e) ELECTIONS OTHER THAN ELECTIONS DURING THE INITIAL ELECTION PERIOD.
Subject to the requirements of Section 2.1, any Eligible Employee may
participate for any Plan Year by filing an election, on a form provided and in a
manner specified by the Committee, to defer Compensation as described in
paragraph (b) above. An election to defer Compensation for a Plan Year must be
filed on or before December 1 of the preceding Plan Year, or such other date as
the Committee establishes, which date shall be no later than December 31 of the
preceding Plan Year, and will be effective for Salary, Commissions and/or Bonus
earned during pay periods beginning on or after January 1 of the Plan Year for
which the election applies.

         (f) DURATION OF DEFERRAL ELECTIONS. Any election made under this Plan
to defer Compensation shall apply only to Compensation payable with respect to
services performed during the Plan Year for which the election is made. For each
subsequent Plan Year, a Participant who remains an Eligible Employee may make a
new election, subject to the limitations set forth in this Section 3.1, to defer
a percentage of his or her Compensation.

         (g) IN-SERVICE DISTRIBUTIONS. At the time of making an election to
defer Compensation for a Plan Year pursuant to this Section 3.1, a Participant
may elect (in the manner specified by the Committee) to receive an in-service
distribution of the amount deferred under such election, together with earnings
or losses credited with respect to such amounts pursuant to Article IV, in a
lump sum payment or in annual installments over 2, 3, 4, or 5 years in any
January that occurs after the second anniversary of the last day of the Plan
Year in which the amount deferred was earned. In addition, each Participant who
has a Rollover Amount credited to his or her Account pursuant to Section 4.2
shall be permitted to elect, on or before December 31, 1999, to receive an
in-service distribution of such Rollover Amount, together with earnings or
losses, in January of 2003 or any later year. A Participant may subsequently
elect to defer the year of any such in-service distribution to any subsequent
date that is at least two years from the prior scheduled distribution date by
filing a written election with the Committee, on a form provided and in a manner
specified by the Committee, at least one year prior to the first day of the
previously elected in-service distribution year. The election to defer the year
of an in-service distribution may be made no more than twice. A Participant may
elect to change the form of an in-service distribution, provided that his or her
election is made on a form and in a manner specified by the Committee and such
election is received by the Committee at least one year prior to the date
distribution is to be made (or installments are to commence). If a Participant
fails to make a

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distribution election under this Section 3.1(g) for a Plan Year, the
Compensation deferred for that Plan Year shall be distributed as set forth in
Section 6.1(b).

         (h) ELECTIONS FOR ALTERNATIVE FORM OF DISTRIBUTION. At the time of
making an election to defer Compensation for a Plan Year pursuant to this
Section 3.1, a Participant may elect (in the manner specified by the Committee)
an alternative form of benefit for distribution of the Compensation deferred for
that Plan Year pursuant to Section 6.1(b). Subject to the provisions of Section
6.1(b), this election will apply to the Compensation deferred for such Plan Year
if (i) the Participant does not elect an in-service distribution with respect to
such deferred Compensation pursuant to Section 3.1(g) or (ii) the Participant
elects an in-service distribution but terminates employment prior to
commencement of such in-service distribution.

         (i) EFFECT OF ELECTIONS. Each distribution election under Section
3.1(g) and Section 3.1(h) shall apply only to the Compensation deferred for the
Plan Year for which the election is made. For each subsequent Plan Year a
Participant may make a separate election. Any election filed pursuant to this
Section 3.1 shall be irrevocable for any one Plan Year except to the extent
provided in subsection (g) hereof, Section 6.1, Section 6.2 and Section 6.3.

3.2      INVESTMENT ELECTIONS.

         (a) At the time of making each deferral election described in Section
3.1, the Participant shall designate, on a form provided and in a manner
specified by the Committee, which Fund or Funds the Compensation deferred
pursuant to such election will be deemed to be invested in for purposes of
determining the amount of earnings or losses to be credited or debited to his or
her Plan Year Subaccount that the Committee establishes pursuant to Section 4.1
to account for such deferred Compensation.

         (b) In making the designation pursuant to this Section 3.2, the
Participant must specify, in multiples of 10, the percentage of his or her
corresponding Plan Year Subaccount that shall be deemed to be invested in one or
more Funds. Effective as of the first business day of any month, a Participant
may change the designation made under this Section 3.2 with respect to any or
all of his or her Plan Year Subaccounts by filing an election, on a form
provided and in a manner specified by the Committee. If a Participant fails to
make an investment election for Compensation deferred in any Plan Year, the
Participant's most recent investment election shall apply to the Plan Year
Subaccount established for such Plan Year and each Plan Year Subaccount
established with respect to any subsequent Plan Year Subaccount(s) until the
Participant files an election with the Committee in accordance with the
provisions of this Section 3.2 with respect to such Plan Year Subaccount(s).
Notwithstanding the foregoing, if a Participant has not previously elected a
Fund under this Section 3.2, he or she shall be deemed to have elected the money
market

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option, or such other Fund that the Committee designates as the default fund for
purposes of this Plan.

         (c) The Committee shall select from time to time, in its sole
discretion, the Funds in which Compensation deferred under this Plan will be
deemed to be invested. The Earnings Rate of each Fund shall be used to determine
the amount of earnings or losses to be credited or debited to the Participant's
Deferral Account under Article IV. The Bank reserves the right to change the
Funds, and to increase or decrease the number of Funds, available as the Funds
for purposes of this Plan.

         (d) Notwithstanding the Participant's ability to designate the Funds in
which the Plan Year Subaccounts of his or her Deferral Account shall be deemed
to be invested, the Bank shall have no obligation to invest any funds in
accordance with any Participant's election. A Participant's Deferral Account
shall merely be a bookkeeping entry on the Bank's books, and no Participant
shall obtain any interest in any of the Funds.

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                                   ARTICLE IV
                                    ACCOUNTS

4.1      DEFERRAL ACCOUNT.

         The Committee shall establish and maintain a Deferral Account for each
Participant under the Plan. The Deferral Account shall be divided into Plan Year
Subaccounts to separately account for deferrals made for each Plan Year. A
Participant's Plan Year Subaccounts shall be divided into separate subaccounts
("investment subaccounts"), each of which corresponds to a Fund elected by the
Participant pursuant to Section 3.2(a). A Participant's Plan Year Subaccount for
a Plan Year shall be credited as follows:

                  (a)      The Committee shall credit the investment subaccounts
                           of the Plan Year Subaccount of the Participant's
                           Deferral Account with an amount equal to Salary
                           deferred by the Participant during each pay period
                           that begins in the Plan Year for which the Plan Year
                           Subaccount is established on the fifth business day
                           after the end of the pay period, in accordance with
                           the Participant's election under Section 3.2(a); that
                           is, the portion of the Participant's deferred Salary
                           that the Participant has elected to be deemed to be
                           invested in a certain Fund shall be credited to the
                           investment subaccount corresponding to that Fund;

                  (b)      The Committee shall credit the investment subaccounts
                           of the Plan Year Subaccount of the Participant's
                           Deferral Account with an amount equal to the portion
                           of the Bonus deferred by the Participant for the Plan
                           Year for which the Plan Year Subaccount is
                           established on the fifth business day after the Bonus
                           or partial Bonus would have been paid, in accordance
                           with the Participant's election under Section 3.2(a);
                           that is, the portion of the Participant's deferred
                           Bonus that the Participant has elected to be deemed
                           to be invested in a certain Fund shall be credited to
                           the investment subaccount corresponding to that Fund;

                  (c)      The Committee shall credit the investment subaccounts
                           of the Plan Year Subaccount of the Participant's
                           Deferral Account with an amount equal to the portion
                           of the Commissions deferred by the Participant earned
                           during the Plan Year for which the Plan Year
                           Subaccount is established on the fifth business day
                           after the Commissions would have been paid, in
                           accordance with the Participant's election under
                           Section 3.2(a); that is, the portion of the
                           Participant's deferred Commission that the
                           Participant has

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                           elected to be deemed to be invested in a certain Fund
                           shall be credited to the investment subaccount
                           corresponding to that Fund; and

                  (d)      As of the close of each business day, each investment
                           subaccount of a Participant's Plan Year Subaccount of
                           the Participant's Deferral Account shall be credited
                           with earnings or losses in an amount determined by
                           multiplying the balance credited to such investment
                           subaccount as of the beginning of the same business
                           day by the Earnings Rate for the corresponding Fund.

4.2      ROLLOVERS.

         If an individual who was both an active employee of the Bank and a
participant in the Prior Plan on December 31, 1999 either (a) executes an
"Agreement for Transfer of Policy and Termination of Split-Dollar Life Insurance
Agreement" or (b) did not own a life insurance policy that was subject to a
Split-Dollar Life Insurance Agreement with the Company on December 31, 1999,
then his or her account balance under the Prior Plan shall be transferred to an
Account established for such individual under this Plan, shall be governed by
the terms and conditions of this Plan and shall be referred to as the "Rollover
Amount." A Participant's Rollover Amount shall be credited to a separate Plan
Year Subaccount. A Participant may make separate distribution and investment
elections applicable to his or her Rollover Amount in accordance with Articles
III and VI of this Plan.

                                    ARTICLE V
                                     VESTING

5.1      DEFERRAL ACCOUNT.

         A Participant's Deferral Account shall be 100% vested at all times.

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                                   ARTICLE VI
                                  DISTRIBUTIONS

6.1      DISTRIBUTION OF DEFERRED COMPENSATION.

         (a) Distribution of the amount credited to each Plan Year Subaccount of
the Participant's Deferral Account that is subject to an in-service distribution
election made by the Participant pursuant to Section 3.1(g) shall be made
beginning in January of the year elected by the Participant in the form elected
by the Participant, provided that the Participant is employed by the Bank on
January 1 of such year. Notwithstanding the foregoing, if the amount credited to
a Plan Year Subaccount as of the end of the month immediately preceding the date
that distributions are scheduled to commence is $25,000 or less (or, if
distributions from two or more Plan Year Subaccounts are scheduled to commence
in the same year for the same number of annual installments, if the sum of the
amounts credited to such Plan Year Subaccounts is $25,000 or less), payment will
be made in the form of a single lump sum rather than annual installments. In the
event the Participant's employment with the Bank is terminated for any reason
prior to January 1 of a year elected by the Participant for a Plan Year
Subaccount pursuant to Section 3.1(g), the Participant's in-service distribution
election for such Plan Year Subaccount shall no longer be effective and all of
the amounts credited to such Plan Year Subaccount shall be distributed as set
forth in the following subsections of this Section 6.1 in accordance with any
applicable election by the Participant. In the event the Participant terminates
employment while receiving an in-service distribution from one or more Plan Year
Subaccounts in the form of annual installments, such payments will continue as
scheduled.

         (b) In the event a Participant terminates employment for a reason other
than involuntary termination, the amounts credited to his or her Plan Year
Subaccounts that are not then in pay status pursuant to in-service distribution
elections shall be distributed in 60 substantially equal quarterly installments
beginning as soon as practicable following his or her Payment Eligibility Date.
Notwithstanding the foregoing, a Participant may elect to receive distribution
of one or more of his or her Plan Year Subaccounts in a lump sum or in 20, 40 or
60 substantially equal quarterly installments beginning as soon as practicable
following the Participant's Payment Eligibility Date, provided that his or her
election is filed with the Committee either (i) at the time of making his or her
deferral election for the Plan Year for which the Plan Year Subaccount was
established (as described in Section 3.1(h)) or (ii) at least one year prior to
his or her termination of employment on a form provided and in a manner
specified by the Committee. A Participant may change the form of distribution,
provided that his or her change election is made on a form and in a manner
specified by the Committee and such election is received by the Committee at
least one year prior to the date distribution is to be made (or installments are
to commence). Notwithstanding anything contained herein to the contrary, (i) in
the event that the amount

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credited to a Participant's Deferral Account is less than $50,000 as of the end
of the month in which his or her employment with the Bank terminates, such
amount shall be paid in a cash lump sum payment as soon as practicable following
his or her Payment Eligibility Date, or (ii) in the event that the sum of the
amounts credited to the Participant's Plan Year Subaccounts that are subject to
the same election as to date of commencement of distribution and number of
installments is less than $50,000 at the end of the month in which the
Participants employment with the Bank terminates, such amount shall be paid in a
cash lump sum payment as soon as practicable following his or Payment
Eligibility Date.

         (c) In the event a Participant terminates employment because of death,
the amount credited to his or her Plan Year Subaccounts shall be paid to his or
her Beneficiary in the form and at the time that such amounts would have been
paid to the Participant if he or she had voluntarily terminated employment on
the date his or her death.

         (d) The Participant's Plan Year Subaccounts shall continue to be
credited with earnings pursuant to Sections 4.1 and 4.2 of the Plan until all
amounts credited to his or her Plan Year Subaccounts under the Plan have been
distributed.

         (e) In the event that a former Participant dies while receiving
installment payments under this Plan, any remaining installments shall be paid
to the Participant's Beneficiary as such installments would have otherwise been
due to the Participant.

         (f) In the event that a Participant terminates employment because of an
involuntary termination, the amounts credited to his or her Deferral Account
shall be paid in a lump sum as soon as administratively practicable following
his or her Payment Eligibility Date.

         (g) A change in control of the Bank or the Corporation shall not
accelerate the distribution of amounts credited to Participants' Deferral
Accounts.

6.2      NONSCHEDULED IN-SERVICE WITHDRAWALS.

         At any time prior to his or her termination of employment from the
Bank, a Participant may elect to withdraw an amount not in excess of the amounts
credited to his or her Deferral Account, reduced by the withdrawal penalty
described below. The Participant may make such an election by filing a written
notice with the Committee on a form provided and in the manner specified by the
Committee. Within 90 days following the Committee's receipt of such notice, an
amount equal to 90% of the amount that the Participant has elected to withdraw
from his or her Deferral Account shall be paid to the Participant in a cash lump
sum payment. Upon the payment of such withdrawal, (a) an amount equal to 10% of
the amount the Participant has elected to withdraw from the Participant's
Deferred Compensation Account shall be forfeited, (b) the

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Participant shall cease to participate in the Plan for the remainder of the Plan
Year in which the withdrawal occurs and shall be ineligible to participate
during the Plan Year immediately following the Plan Year in which the withdrawal
occurs, and (c) any deferral elections made by the Participant for such periods
shall terminate. A Participant may not make more than two withdrawals under this
Section 6.2. The amount of any such payments and forfeitures shall be deducted
from the amounts credited to the Participant's Plan Year Subaccounts in such
order and in such proportions as the Committee may determine in its sole
discretion. The remaining amounts credited to a Participant's Plan Year
Subaccounts shall be distributed in accordance with the Participant's elections
with respect to such Plan Year Subaccounts.

6.3      HARDSHIP WITHDRAWALS.

         Upon written request of a Participant, the Committee may, in its sole
discretion, make a lump sum payment to a Participant and/or accelerate the
payment of installment payments due to the Participant in order to meet a severe
financial hardship to the Participant resulting from (a) a sudden and unexpected
illness or accident of the Participant or a dependent of the Participant, (b)
loss of the Participant's property due to casualty or (c) other similar
extraordinary and unforeseeable circumstances arising as a result of events
beyond the control of the Participant. However, no payment shall be made under
this Section 6.3 to the extent that a hardship is or may be relieved (a) through
reimbursement or compensation by insurance or otherwise, (b) by liquidation of
the Participant's assets, to the extent the liquidation of such assets would not
itself cause severe financial hardship or (c) by cessation of deferrals under
the Plan effective for the next Plan Year. The amount of any hardship lump sum
payment and/or accelerated amount under this Section 6.3 shall not exceed the
lesser of (a) the amount required to meet the immediate financial need created
by such hardship or (b) the entire amounts credited to the Participant's
Accounts. The amount of any such payments shall be deducted from the amounts
credited to the Participant's Plan Year Subaccounts in such order and in such
proportions as the Committee may determine in its sole discretion. The remaining
amounts credited to a Participant's Plan Year Subaccounts shall be distributed
in accordance with the Participant's elections with respect to such Plan Year
Subaccounts.

6.4      INABILITY TO LOCATE PARTICIPANT.

         In the event that the Committee is unable to locate a Participant or
Beneficiary within two years following the Participant's Payment Eligibility
Date, the amounts allocated to the Participant's Deferral Account shall be
forfeited. If, after such forfeiture, the Participant or Beneficiary later
claims such benefits, such benefits shall be reinstated without interest or
earnings.

                                       13
<PAGE>

6.5      DEATH BENEFIT FOR CERTAIN PARTICIPANTS.

         (a) For each Participant who is named in the list attached hereto as
Schedule 1, the Bank shall provide life insurance coverage in the amount set
forth next to his or her name in Schedule 1, beginning on the date such
Participant executes an "Agreement for Transfer of Policy and Termination of
Split-Dollar Life Insurance Agreement" and ending on December 31, 2009 (the
"Coverage Period"). Such life insurance coverage shall remain in effect
throughout the Coverage Period even if the Participant ceases to be employed by
the Bank.

         (b) The Bank shall provide such life insurance coverage by maintaining
a life insurance policy (the "Policy") on the life of each named Participant.
Each such Participant shall be entitled to name a beneficiary (which need not be
his or her Beneficiary under this Plan) to receive the portion of the death
benefit under the Policy that is equal to the amount set forth as his or her
death benefit in Schedule 1 (his or her "Death Benefit"). The Participant may
make a beneficiary designation or change a beneficiary designation in writing in
accordance with procedures established by the Committee. No beneficiary
designation will become effective until it is filed in accordance with the
Committee's procedures. If no beneficiary designation is in effect, the Death
Benefit shall be paid to the Participant's Beneficiary under this Plan. If the
actual death benefit under the Policy exceeds the Death Benefit, the excess
death benefit under the Policy shall be paid to the Bank.

         (c) At the end of the Coverage Period, the Bank shall cease to provide
the life insurance coverage described herein and the provisions of this Section
6.5 shall terminate and have no further effect.

                                       14
<PAGE>

                                   ARTICLE VII
                                 ADMINISTRATION

7.1      COMMITTEE ACTION.

         The Committee shall act at meetings by affirmative vote of a majority
of the members of the Committee. Any action permitted to be taken at a meeting
may be taken without a meeting if, prior to such action, a written consent to
the action is signed by all members of the Committee and such written consent is
filed with the minutes of the proceedings of the Committee. A member of the
Committee shall not vote or act upon any matter which relates solely to himself
or herself as a Participant. The Chairman or any other member or members of the
Committee designated by the Chairman may execute any certificate or other
written direction on behalf of the Committee.

7.2      POWERS AND DUTIES OF THE COMMITTEE.

         (a) The Committee, on behalf of the Participants and their
Beneficiaries, shall enforce the Plan in accordance with its terms, shall be
charged with the general administration of the Plan, and shall have all powers
necessary to accomplish its purposes, including, but not by way of limitation,
the following:

                  (i)      To select the funds or portfolios to be the Funds in
                           accordance with Section 3.2(b) hereof;

                  (ii)     To construe and interpret the terms and provisions of
                           this Plan;

                  (iii)    To compute and certify to the amount and kind of
                           benefits payable to Participants and their
                           Beneficiaries;

                  (iv)     To maintain all records that may be necessary for the
                           administration of the Plan;

                  (v)      To provide for the disclosure of all information and
                           the filing or provision of all reports and statements
                           to Participants, Beneficiaries or governmental
                           agencies as shall be required by law;

                  (vi)     To make and publish such rules for the regulation of
                           the Plan and procedures for the administration of the
                           Plan as are not inconsistent with the terms hereof;
                           and

                                       15
<PAGE>

                  (vii)    To appoint a plan administrator or any other agent,
                           and to delegate to them such powers and duties in
                           connection with the administration of the Plan as the
                           Committee may from time to time prescribe.

7.3      CONSTRUCTION AND INTERPRETATION.

         The Committee shall have full discretion to construe and interpret the
terms and provisions of this Plan, which interpretation or construction shall be
final and binding on all parties, including but not limited to the Bank and any
Participant or Beneficiary. The Committee shall administer such terms and
provisions in a uniform and nondiscriminatory manner and in full accordance with
any and all laws applicable to the Plan.

7.4      INFORMATION.

         To enable the Committee to perform its functions, the Bank shall supply
full and timely information to the Committee on all matters relating to the
Compensation of all Participants, their death or other cause of termination, and
such other pertinent facts as the Committee may require.

7.5      COMPENSATION, EXPENSES AND INDEMNITY.

         (a) The members of the Committee shall serve without compensation for
their services hereunder.

         (b) The Committee is authorized at the expense of the Bank to employ
such legal counsel as it may deem advisable to assist in the performance of its
duties hereunder. Expenses and fees in connection with the administration of the
Plan shall be paid by the Bank.

         (c) To the extent permitted by applicable state law, the Bank shall
indemnify and save harmless the Committee and each member thereof, the Board of
Directors and each member thereof, and delegates of the Committee who are
employees of the Bank against any and all expenses, liabilities and claims,
including legal fees to defend against such liabilities and claims arising out
of their discharge in good faith of responsibilities under or incident to the
Plan, other than expenses and liabilities arising out of willful misconduct.
This indemnity shall not preclude such further indemnities as may be available
under insurance purchased by the Bank or provided by the Bank under any bylaw,
agreement or otherwise, as such indemnities are permitted under state law.

7.6      QUARTERLY STATEMENTS.

         Under procedures established by the Committee, a Participant shall
receive a statement with respect to such Participant's Account as of the last
day of each calendar quarter.

                                       16
<PAGE>

7.7      CLAIMS PROCEDURE.

         (a) CLAIM. A person who believes that he or she is being denied a
benefit to which he or she is entitled under this Plan (hereinafter referred to
as "Claimant") may file a written request for such benefit with the Committee,
setting forth his or her claim. The request must be addressed to the Committee
at the Bank's principal place of business.

         (b) CLAIM DECISION. Upon receipt of a claim, the Committee shall advise
the Claimant that a reply will be forthcoming within ninety (90) days and shall,
in fact, deliver such reply within such period. The Committee may, however,
extend the reply period for an additional ninety (90) days for special
circumstances. If the claim is denied in whole or in part, the Committee shall
inform the Claimant in writing, using language calculated to be understood by
the Claimant, setting forth: (i) the specified reason or reasons for such
denial; (ii) the specific reference to pertinent provisions of this Plan on
which such denial is based; (iii) a description of any additional material or
information necessary for the Claimant to perfect his or her claim and an
explanation why such material or such information is necessary; (iv) appropriate
information as to the steps to be taken if the Claimant wishes to submit the
claim for review; and (v) the time limits for requesting a review under
subsection (c).

         (c) REQUEST FOR REVIEW. Within sixty (60) days after the receipt by the
Claimant of the written opinion described above, the Claimant may request in
writing that the Committee review the determination. Such request must be
addressed to the Committee, at the Bank's principal place of business. The
Claimant or his or her duly authorized representative may, but need not, review
the pertinent documents and submit issues and comments in writing for
consideration by the Committee. If the Claimant does not request a review within
such sixty (60) day period, he or she shall be barred and estopped from
challenging the original determination.

         (d) REVIEW OF DECISION. Within sixty (60) days after the Committee's
receipt of a request for review, after considering all materials presented by
the Claimant, the Committee will inform the Claimant in writing, in a manner
calculated to be understood by the Claimant, of its decision setting forth the
specific reasons for the decision and containing specific references to the
pertinent provisions of this Plan on which the decision is based. If special
circumstances require that the sixty (60) day time period be extended, the
Committee will so notify the Claimant and will render the decision as soon as
possible, but no later than one hundred twenty (120) days after receipt of the
request for review.

                                       17
<PAGE>

                                  ARTICLE VIII
                                  MISCELLANEOUS

8.1      UNSECURED GENERAL CREDITOR.

         Participants and their Beneficiaries, heirs, successors, and assigns
shall have no legal or equitable rights, claims, or interest in any specific
property or assets of the Bank. No assets of the Bank shall be held under any
trust, or held in any way as collateral security for the fulfilling of the
obligations of the Bank under this Plan, although the Bank may establish one or
more grantor trusts subject to Code Section 671 to facilitate the payment of
benefits hereunder. Any and all of the Bank's assets shall be, and remain, the
general unpledged, unrestricted assets of the Bank. The Bank's obligation under
the Plan shall be merely that of an unfunded and unsecured promise of the Bank
to pay money in the future, and the rights of the Participants and Beneficiaries
shall be no greater than those of unsecured general creditors. It is the
intention of the Bank that this Plan and any trust established to facilitate the
payment of benefits hereunder be unfunded for purposes of the Code and for
purposes of Title I of ERISA.

8.2      RESTRICTION AGAINST ASSIGNMENT.

         The Bank shall pay all amounts payable hereunder only to the person or
persons designated by the Plan and not to any other person or corporation. No
part of a Participant's Account shall be liable for the debts, contracts, or
engagements of any Participant, his or her Beneficiary, or successors in
interest, nor shall a Participant's Account be subject to execution by levy,
attachment, or garnishment or by any other legal or equitable proceeding, nor
shall any such person have any right to alienate, anticipate, sell, transfer,
commute, pledge, encumber, or assign any benefits or payments hereunder in any
manner whatsoever. If any Participant, Beneficiary or successor in interest is
adjudicated bankrupt or purports to anticipate, alienate, sell, transfer,
assign, pledge, encumber or charge any distribution or payment from the Plan,
voluntarily or involuntarily, the Committee, in its discretion, may cancel such
distribution or payment (or any part thereof) to or for the benefit of such
Participant, Beneficiary or successor in interest in such manner as the
Committee shall direct.

8.3      WITHHOLDING.

         There shall be deducted from each payment made under the Plan or any
other compensation payable to the Participant (or Beneficiary) all taxes which
are required to be withheld by the Bank in respect to such payment or this Plan.
The Bank shall have the right to reduce any payment (or other compensation) by
the amount of cash sufficient to provide the amount of said taxes.

                                       18
<PAGE>

8.4      AMENDMENT, MODIFICATION, SUSPENSION OR TERMINATION.

         The Bank may amend, modify, suspend or terminate the Plan in whole or
in part, except that no amendment, modification, suspension or termination shall
have any retroactive effect to reduce any amounts allocated to a Participant's
Account. In the event that this Plan is terminated, the distribution of the
amounts credited to a Participant's Deferral Account shall not be accelerated
but shall be paid at such time and in such manner as determined under the terms
of the Plan immediately prior to termination as if the Plan had not been
terminated. (Neither the Policies themselves nor the death benefit described in
Section 6.5 shall be treated as allocated to Accounts.)

8.5      GOVERNING LAW.

         This Plan shall be construed, governed and administered in accordance
with the laws of the State of California.

8.6      RECEIPT OR RELEASE.

         Any payment to a Participant or the Participant's Beneficiary in
accordance with the provisions of the Plan shall, to the extent thereof, be in
full satisfaction of all claims against the Committee, and the Bank. The
Committee may require such Participant or Beneficiary, as a condition precedent
to such payment, to execute a receipt and release to such effect.

8.7      PAYMENTS ON BEHALF OF PERSONS UNDER INCAPACITY.

         In the event that any amount becomes payable under the Plan to a person
who, in the sole judgment of the Committee, is considered by reason of physical
or mental condition to be unable to give a valid receipt therefor the Committee
may direct that such payment be made to any person found by the Committee, in
its sole judgment, to have assumed the care of such person. Any payment made
pursuant to such determination shall constitute a full release and discharge of
the Committee and the Bank.

8.8      HEADINGS, ETC. NOT PART OF AGREEMENT.

         Headings and subheadings in this Plan are inserted for convenience of
reference only and are not to be considered in the construction of the
provisions hereof.

                                       19
<PAGE>

         IN WITNESS WHEREOF, the Bank has executed this document this 28th day
of February, 2001.

                                      CITY NATIONAL BANK

                                      By:  /s/ KATE DWYER
                                           -------------------------------------
                                           Kate Dwyer
                                      Its: Executive Vice President
                                           Human Resources Division

                                       20<PAGE>

                                                                   EXHIBIT 10.33

                             2000 CITY NATIONAL BANK
                       DIRECTOR DEFERRED COMPENSATION PLAN

<PAGE>

                             2000 CITY NATIONAL BANK
                       DIRECTOR DEFERRED COMPENSATION PLAN

                                TABLE OF CONTENTS
<TABLE>
<CAPTION>

                                                                                                                PAGE
                                                                                                                ----
<S>      <C>                                                                                                    <C>
ARTICLE I.........................................................................................................1

1.1 -    Title....................................................................................................1

1.2 -    Definitions..............................................................................................1

ARTICLE II........................................................................................................6

2.1 -    Participation............................................................................................6

ARTICLE III.......................................................................................................7

3.1 -    Elections to Defer Compensation..........................................................................7

3.2 -    Investment Elections.....................................................................................9

ARTICLE IV.......................................................................................................10

4.1 -    Deferral Account........................................................................................10

4.2 -    Rollovers...............................................................................................10

ARTICLE V........................................................................................................10

5.1 -    Deferral Account........................................................................................10

ARTICLE VI.......................................................................................................11

6.1 -    Distribution of Deferred Compensation...................................................................11

6.2 -    Nonscheduled In-Service Withdrawals.....................................................................12

6.3 -    Hardship Withdrawals....................................................................................13

6.4 -    Inability to Locate Participant.........................................................................13

6.5 -    Change in Control.......................................................................................13

6.6 -    Death Benefit for Certain Participants..................................................................14

ARTICLE VII......................................................................................................15

7.1 -    Committee Action........................................................................................15

7.2 -    Powers and Duties of the Committee......................................................................15

7.3 -    Construction and Interpretation.........................................................................16

7.4 -    Information.............................................................................................16

7.5 -    Compensation, Expenses and Indemnity....................................................................16

7.6 -    Quarterly Statements....................................................................................17

7.7 -    Claims Procedure........................................................................................17
</TABLE>

                                       i

<PAGE>

<TABLE>
<S>      <C>                                                                                                    <C>
ARTICLE VIII.....................................................................................................18

8.1 -    Unsecured General Creditor..............................................................................18

8.2 -    Restriction Against Assignment..........................................................................18

8.3 -    Withholding.............................................................................................18

8.4 -    Amendment, Modification, Suspension or Termination......................................................19

8.5 -    Governing Law...........................................................................................19

8.6 -    Receipt or Release......................................................................................19

8.7 -    Payments on Behalf of Persons Under Incapacity..........................................................19

8.8 -    Headings, etc. Not Part of Agreement....................................................................19
</TABLE>

                                       ii
<PAGE>

                             2000 CITY NATIONAL BANK
                       DIRECTOR DEFERRED COMPENSATION PLAN
                        (EFFECTIVE AS OF JANUARY 1, 2000)

         City National Bank (the "Bank") hereby establishes the 2000 City
National Bank Director Deferred Compensation Plan (the "Plan"), effective as of
January 1, 2000, to provide a tax-deferred capital accumulation opportunity to
its outside directors through deferrals of directors' fees.

                                    ARTICLE I
                              TITLE AND DEFINITIONS

1.1 -    TITLE.

         This Plan shall be known as the 2000 City National Bank Director
Deferred Compensation Plan.

1.2 -    DEFINITIONS.

         Whenever the following words and phrases are used in this Plan, with
the first letter capitalized, they shall have the meanings specified below.

         "Account" shall mean a Participant's Deferral Account.

         "Annual Retainer" shall mean the annual retainer fee to which a
Director is entitled for service as a member of the Board of Directors of the
Corporation and/or the annual retainer fee to which a Director is entitled for
service as a member of the board of directors of the Bank.

         "Bank" shall mean City National Bank and any successor corporation.

         "Beneficiary" or "Beneficiaries" shall mean the person or persons,
including a trustee, personal representative or other fiduciary, last designated
in writing by a Participant in accordance with procedures established by the
Committee to receive the benefits specified hereunder (other than those benefits
set forth in Section 6.6) in the event of the Participant's death. No
beneficiary designation shall become effective until it is filed with the
Committee, and no beneficiary designation of someone other than the
Participant's spouse shall be effective unless such designation is consented to
by the Participant's spouse on a form provided by and in accordance with
procedures established by the Committee. If there is no Beneficiary designation
in effect, or if there is no surviving designated Beneficiary, then the
Participant's surviving spouse shall be the Beneficiary. If there is no
surviving spouse to receive any benefits payable in

                                       1
<PAGE>

accordance with the preceding sentence, the duly appointed and currently acting
personal representative of the Participant's estate (which shall include either
the Participant's probate estate or living trust) shall be the Beneficiary. In
any case where there is no such personal representative of the Participant's
estate duly appointed and acting in that capacity within 90 days after the
Participant's death (or such extended period as the Committee determines is
reasonably necessary to allow such personal representative to be appointed, but
not to exceed 180 days after the Participant's death), then Beneficiary shall
mean the person or persons who can verify by affidavit or court order to the
satisfaction of the Committee that they are legally entitled to receive the
benefits specified hereunder. In the event any amount is payable under the Plan
to a minor, payment shall not be made to the minor, but instead shall be paid
(a) to that person's living parent(s) to act as custodian, (b) if that person's
parents are then divorced, and one parent is the sole custodial parent, to such
custodial parent, or (c) if no parent of that person is then living, to a
custodian selected by the Committee to hold the funds for the minor under the
Uniform Transfers or Gifts to Minors Act in effect in the jurisdiction in which
the minor resides. If no parent is living and the Committee decides not to
select another custodian to hold the funds for the minor, then payment shall be
made to the duly appointed and currently acting guardian of the estate for the
minor or, if no guardian of the estate for the minor is duly appointed and
currently acting within 60 days after the date the amount becomes payable,
payment shall be deposited with the court having jurisdiction over the estate of
the minor.

         "Board of Directors" or "Board" shall mean the Board of Directors of
City National Bank.

         "Change in Control Event" shall mean:

         (a)      The acquisition by an individual, entity or group (within the
                  meaning of Section 13(d)(3) or 14(d)(2) of the Securities
                  Exchange Act of 1934, as amended (the "Exchange Act")) (a
                  "Person") of beneficial ownership (within the meaning of Rule
                  13d-3 promulgated under the Exchange Act) of 20% or more of
                  either (i) the then outstanding shares of common stock of the
                  Corporation (the "Outstanding Corporation Common Stock") or
                  (ii) the combined voting power of the then outstanding voting
                  securities of the Corporation entitled to vote generally in
                  the election of directors (the "Outstanding Corporation Voting
                  Securities"); provided, however, that for purposes of this
                  subsection (a), the following acquisitions shall not
                  constitute a Change of Control: (i) any acquisition directly
                  from the Corporation, (ii) any acquisition by the Corporation,
                  (iii) any acquisition by any employee benefit plan (or related
                  trust) sponsored or maintained by the Corporation or any
                  corporation controlled by the Corporation, (iv) any
                  acquisition by any corporation pursuant to a transaction which
                  complies with clauses (i), (ii)

                                       2
<PAGE>

                  and (iii) of subsection (c) below, or (v) any acquisition by
                  the Goldsmith family or any trust or partnership for the
                  benefit of any member of the Goldsmith family; or

         (b)      Individuals who, as of the date hereof, constitute the Board
                  (the "Incumbent Board") cease for any reason to constitute at
                  least a majority of the Board; provided, however, that any
                  individual becoming a director subsequent to the date hereof
                  whose election, or nomination for election by the
                  Corporation's shareholders, was approved by a vote of at least
                  a majority of the directors then comprising the Incumbent
                  Board shall be considered as though such individual were a
                  member of the Incumbent Board, but excluding, for this
                  purpose, any such individual whose initial assumption of
                  office occurs as a result of an actual or threatened election
                  contest with respect to the election or removal of directors
                  or other actual or threatened solicitation of proxies or
                  consents by or on behalf of a Person other than the Board; or

         (c)      Consummation of a reorganization, merger or consolidation or
                  sale or other disposition of all or substantially all of the
                  assets of the Corporation (a "Business Combination"), in each
                  case, unless, following such Business Combination, (i) all or
                  substantially all of the individuals and entities who were the
                  beneficial owners, respectively, of the Outstanding
                  Corporation Common Stock and Outstanding Corporation Voting
                  Securities immediately prior to such Business Combination
                  beneficially own, directly or indirectly, more than 50% of,
                  respectively, the then outstanding shares of common stock and
                  the combined voting power of the then outstanding voting
                  securities entitled to vote generally in the election of
                  directors, as the case may be, of the corporation resulting
                  from such Business Combination (including, without limitation,
                  a corporation which as a result of such transaction owns the
                  Corporation or all or substantially all of the Corporation's
                  assets either directly or through one or more subsidiaries) in
                  substantially the same proportions as their ownership,
                  immediately prior to such Business Combination of the
                  Outstanding Corporation Common Stock and Outstanding
                  Corporation Voting Securities, as the case may be, (ii) no
                  Person (excluding any corporation resulting from such Business
                  Combination or any employee benefit plan (or related trust) of
                  the Corporation or such corporation resulting from such
                  Business Combination) beneficially owns, directly or
                  indirectly, 20% or more of, respectively, the then outstanding
                  shares of common stock of the corporation resulting from such
                  Business Combination or the combined voting power of the then
                  outstanding voting securities of such corporation except to
                  the extent that such ownership existed prior to the Business
                  Combination and (iii) at least a majority of the

                                       3
<PAGE>

                  members of the board of directors of the corporation resulting
                  from such Business Combination were members of the Incumbent
                  Board at the time of the execution of the initial agreement,
                  or of the action of the Board, providing for such Business
                  Combination; or

         (d)      Approval by the shareholders of the Corporation of a complete
                  liquidation or dissolution of the Corporation.

         "Code" shall mean the Internal Revenue Code of 1986, as amended.

         "Committee" shall mean the Corporation's Benefits Committee.

         "Compensation" shall mean the Participant's Annual Retainer and Meeting
Fees.

         "Corporation" shall mean City National Corporation.

         "Deferral Account" shall mean the bookkeeping account on the Bank's
books that is maintained by the Committee for each Participant that is credited
with amounts equal to (a) the portion of the Participant's Annual Retainer and
Meeting Fees that he or she elects to defer, (b) the Participant's Rollover
Amount, if any, and (c) earnings or losses pursuant to Section 4.1.

         "Director" shall mean a member of the board of directors of the Bank.

         "Disability" shall mean an incapacity which has rendered the
Participant unable to perform all of the material and substantial duties of a
Director because of illness or injury.

         "Earnings Rate" shall mean, for each Fund, an amount equal to the net
rate of gain or loss on the assets of such Fund during each business day.

         "Effective Date" shall mean January 1, 2000.

         "Eligible Director" shall mean each Director who is not an employee of
the Corporation, the Bank, any subsidiary of the Corporation or the Bank or any
other entity affiliated with the Corporation or the Bank.

         "Fund" or "Funds" shall mean one or more of the investment funds or
portfolios selected by the Committee pursuant to Section 3.2(b).

         "Initial Election Period" for an Eligible Director shall mean the later
of: (a) the period beginning upon notification to the Participants of this Plan
and ending December 31, 1999; or (b)

                                       4
<PAGE>

the thirty-day period following the Eligible Director's election to the Board or
the board of directors of the Bank.

         "Meeting Fees" shall mean the amounts to which a Director is entitled
for attending meetings of (a) the Board of Directors of the Corporation, (b) the
board of directors of the Bank, (c) a committee of the Board of Directors of the
Corporation or (d) a committee of the board of directors of the Bank.

         "Participant" shall mean (a) any Eligible Director who elects to defer
Compensation in accordance with Section 3.1 and complies with the requirements
of Section 2.1 and (b) any individual who was a participant in the City National
Corporation Director Deferred Compensation Plan and had a positive account
balance on December 31, 1999.

         "Payment Eligibility Date" shall mean the first day of the month
following the end of the calendar quarter in which a Participant ceases to
provide service to the Bank as an Eligible Director, incurs a Disability or
dies.

         "Plan" shall mean the 2000 City National Bank Director Deferred
Compensation Plan set forth herein, now in effect, or as amended from time to
time.

         "Plan Year" shall mean the 12 consecutive month period beginning on
January 1 and ending the following December 31.

         "Plan Year Subaccounts" shall mean subaccounts of a Participant's
Deferral Account established to separately account for Compensation deferred
(and earnings or losses thereon) for each Plan Year in which a Participant
participates in the Plan and for any Rollover Amounts.

         "Prior Plan" shall mean the City National Corporation Director Deferred
Compensation Plan.

         "Rollover Amount" shall mean the amount determined in accordance with
Section 4.2.

                                       5
<PAGE>

                                   ARTICLE II
                                  PARTICIPATION

2.1 -    PARTICIPATION.

         (a)      GENERALLY. An Eligible Director shall become a Participant in
the Plan by (i) electing to defer Compensation in accordance with Section 3.1,
(ii) if required by the Committee, filing a life insurance application form
along with his or her deferral election form, and (iii) satisfying any medical
underwriting requirement established by the Committee.

         (b)      PARTICIPANTS WITH SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENTS.
Notwithstanding the foregoing, unless the Committee provides otherwise, an
Eligible Director who has entered into a Split-Dollar Life Insurance Agreement
with the Corporation must execute an "Agreement for Transfer of Policy and
Termination of Split-Dollar Life Insurance Agreement" in order to defer
Compensation under this Plan.

                                       6
<PAGE>

                                   ARTICLE III
                               DEFERRAL ELECTIONS

3.1 -    ELECTIONS TO DEFER COMPENSATION.

         (a)      INITIAL ELECTION PERIOD. Subject to Section 2.1, each Eligible
Director may elect to defer Compensation by filing with the Committee an
election that conforms to the requirements of this Section 3.1, on a form
provided and in a manner specified by the Committee, no later than the last day
of his or her Initial Election Period.

         (b)      GENERAL RULE. Subject to the minimum deferral provisions of
Section 3.1(c) below, the amount of Compensation which an Eligible Director may
elect to defer is as follows:

                  (i)      Any percentage or dollar amount of Annual Retainer up
                           to 100%; and/or

                  (ii)     Any percentage or dollar amount of Meeting Fees up to
                           100%.

         (c)      MINIMUM DEFERRALS. For each Plan Year during which an Eligible
Director is a Participant, the minimum amount that may be elected under Section
3.1(b) is $5,000. This $5,000 minimum deferral for any Plan Year may be met by a
combination of deferrals of Annual Retainer and/or Meeting Fees for the Plan
Year.

         (d)      EFFECT OF INITIAL ELECTION. An election to defer Compensation
during the Initial Election Period shall be effective with respect to
Compensation paid with respect to the Plan Year for which the election is made.

         (e)      ELECTIONS OTHER THAN ELECTIONS DURING THE INITIAL ELECTION
PERIOD. Subject to the requirements of Section 2.1, any Eligible Director may
participate for any Plan Year by filing an election, on a form provided and in a
manner specified by the Committee, to defer Compensation as described in
paragraph (b) above. An election to defer Compensation for a Plan Year must be
filed on or before December 1 of the preceding Plan Year, or such other date as
the Committee establishes, which date shall be no later than December 31 of the
preceding Plan Year, and will be effective for Compensation earned on or after
January 1 of the Plan Year for which the election applies.

         (f)      DURATION OF DEFERRAL ELECTION. Any election made under this
Plan to defer Compensation shall apply only to Compensation payable with respect
to the Plan Year for which the election is made. For each subsequent Plan Year,
an Eligible Director may make a new election, subject to the limitations set
forth in this Section 3.1, to defer a percentage of his or her Compensation.

                                       7
<PAGE>

         (g)      IN-SERVICE DISTRIBUTIONS. At the time of making an election to
defer Compensation for a Plan Year pursuant to this Section 3.1, a Participant
may elect (in the manner specified by the Committee) to receive an in-service
distribution of the amount deferred under such election, together with earnings
or losses credited with respect to such amounts pursuant to Article IV, in a
lump sum payment or in annual installments over 2, 3, 4, or 5 years in any
January that occurs after the second anniversary of the last day of the Plan
Year in which the amount deferred was earned. In addition, each Participant who
has a Rollover Amount credited to his or her Account under Section 4.2 shall be
permitted to elect, on or before December 31, 1999, to receive an in-service
distribution of such Rollover Amount, together with earnings or losses, in
January of 2003 or any later year. A Participant may subsequently elect to defer
the year of any such in-service distribution to any subsequent date that is at
least two years from the prior scheduled distribution date by filing a written
election with the Committee, on a form provided and in a manner specified by the
Committee, at least one year prior to the first day of the previously elected
in-service distribution year. The election to defer the year of an in-service
distribution may be made no more than twice. A Participant may elect to change
the form of an in-service distribution, provided that his or her election is
made on a form and in a manner specified by the Committee and such election is
received by the Committee at least one year prior to the date distribution is to
be made (or installment are to commence). If a Participant fails to make a
distribution election under this Section 3.1(g) for a Plan Year, the
Compensation deferred for that Plan Year shall be distributed as set forth in
Section 6.1(b).

         (h)      ELECTIONS FOR ALTERNATIVE FORM OF DISTRIBUTION. At the time of
making an election to defer Compensation for a Plan Year pursuant to this
Section 3.1, a Participant may elect (in the manner specified by the Committee)
an alternative form of benefit for distribution of the Compensation deferred for
that Plan Year pursuant to Section 6.1(b). Subject to the provisions of Section
6.1(b), this election will apply to the Compensation deferred for such Plan Year
if (i) the Participant does not elect an in-service distribution with respect to
such deferred Compensation pursuant to Section 3.1(g), or (ii) the Participant
elects an in-service distribution but ceases to be an Eligible Director prior to
commencement of such in-service distribution.

         (i)      EFFECT OF ELECTIONS. Each distribution election under Section
3.1(g) and Section 3.1(h) shall apply only to the Compensation deferred for the
Plan Year for which the election is made. For each subsequent Plan Year a
Participant may make a separate election. Any election filed pursuant to this
Section 3.1 shall be irrevocable for any one Plan Year except to the extent
provided in subsection (g) hereof, Section 6.1, Section 6.2 and Section 6.3.

                                       8
<PAGE>

3.2 -    INVESTMENT ELECTIONS.

         (a)      At the time of making each deferral election described in
Section 3.1, the Participant shall designate, on a form provided and in a manner
specified by the Committee, which Fund or Funds the Compensation deferred
pursuant to such election will be deemed to be invested in for purposes of
determining the amount of earnings or losses to be credited or debited to his or
her Plan Year Subaccount that the Committee establishes pursuant to Section 4.1
to account for such deferred Compensation.

         (b)      In making the designation pursuant to this Section 3.2, the
Participant must specify, in multiples of 10, the percentage of his or her
corresponding Plan Year Subaccount that shall be deemed to be invested in one or
more Funds. Effective as of the first business day of any month, a Participant
may change the designation made under this Section 3.2 with respect to any or
all of his or her Plan Year Subaccounts by filing an election, on a form
provided and in a manner specified by the Committee. If a Participant fails to
make an investment election for Compensation deferred in any Plan Year, the
Participant's most recent investment election shall apply to the Plan Year
Subaccount established for such Plan Year and each Plan Year Subaccount
established with respect to any subsequent Plan Year Subaccount(s) until the
Participant files an election with the Committee in accordance with the
provisions of this Section 3.2 with respect to such Plan Year Subaccount(s).
Notwithstanding the foregoing, if a Participant has not previously elected a
Fund under this Section 3.2, he or she shall be deemed to have elected the money
market option, or such other Fund that the Committee designates as the default
fund for purposes of this Plan.

         (c)      The Committee shall select from time to time, in its sole
discretion, the Funds in which Compensation deferred under this Plan will be
deemed to be invested. The Earnings Rate of each Fund shall be used to determine
the amount of earnings or losses to be credited or debited to the Participant's
Deferral Account under Article IV. The Bank reserves the right to change the
Funds, and to increase or decrease the number of Funds, available as the Funds
for purposes of this Plan.

         (d)      Notwithstanding the Participant's ability to designate the
Funds in which the Plan Year Subaccounts of his or her Deferral Account shall be
deemed to be invested, the Bank shall have no obligation to invest any funds in
accordance with any Participant's election. A Participant's Deferral Account
shall merely be a bookkeeping entry on the Bank's books, and no Participant
shall obtain any interest in any of the Funds.

                                       9
<PAGE>

                                   ARTICLE IV
                                    ACCOUNTS

4.1 -    DEFERRAL ACCOUNT.

         The Committee shall establish and maintain a Deferral Account for each
Participant under the Plan. The Deferral Account shall be divided into Plan Year
Subaccounts to separately account for deferrals made for each Plan Year. A
Participant's Plan Year Subaccounts shall be divided into separate subaccounts
("investment subaccounts"), each of which corresponds to a Fund elected by the
Participant pursuant to Section 3.2(a). A Participant's Plan Year Subaccount for
a Plan Year shall be credited as follows:

                  (a)      The Committee shall credit the investment subaccounts
                           of the Plan Year Subaccount of the Participant's
                           Deferral Account with an amount equal to the
                           Compensation deferred by the Participant for the Plan
                           Year for which the Plan Year Subaccount is
                           established on the fifth business day after the
                           Compensation would have been paid, in accordance with
                           the Participant's election under Section 3.2(a); that
                           is, the portion of the Participant's deferred
                           Compensation that the Participant has elected to be
                           deemed to be invested in a certain Fund shall be
                           credited to the investment subaccount corresponding
                           to that Fund;

                  (b)      As of the close of each business day, each investment
                           subaccount of a Participant's Plan Year Subaccount of
                           the Participant's Deferral Account shall be credited
                           with earnings or losses in an amount determined by
                           multiplying the balance credited to such investment
                           subaccount as of the beginning of the same business
                           day by the Earnings Rate for the corresponding Fund.

4.2 -    ROLLOVERS.

         If a Participant was a participant in the Prior Plan, and had a
positive account balance on December 31, 1999, that positive account balance,
determined as of that date, shall be transferred to the Participant's Account
under this Plan, and shall be governed by the terms and conditions of this Plan
and shall be referred to as the "Rollover Amount." The Participant's Rollover
Amount shall be credited to a separate Plan Year Subaccount. The Participant may
make separate distribution and investment elections applicable to such Rollover
Amount in accordance with Articles III and VI of this Plan.

                                    ARTICLE V
                                     VESTING

5.1 -    DEFERRAL ACCOUNT.

         A Participant's Deferral Account shall be 100% vested at all times.

                                       10
<PAGE>

                                   ARTICLE VI
                                  DISTRIBUTIONS

6.1 -    DISTRIBUTION OF DEFERRED COMPENSATION.

         (a)      Distribution of the amount credited to each Plan Year
Subaccount of the Participant's Deferral Account that is subject to an
in-service distribution election made by the Participant pursuant to Section
3.1(g) shall be made beginning in January of the year elected by the Participant
in the form elected by the Participant, provided that the Participant continues
to serve as an Eligible Director on January 1 of such year. Notwithstanding the
foregoing, if the amount credited to a Plan Year Subaccount as of the end of the
month immediately preceding the date that distributions are scheduled to
commence is $25,000 or less (or, if distributions from two or more Plan Year
Subaccounts are scheduled to commence in the same year for the same number of
annual installments, if the sum of the amounts credited to such Plan Year
Subaccounts is $25,000 or less), payment will be made in the form of a single
lump sum rather than annual installments. In the event the Participant's service
as an Eligible Director is terminated for any reason prior to January 1 of a
year elected by the Participant for a Plan Year Subaccount pursuant to Section
3.1(g), the Participant's in-service distribution election for such Plan Year
Subaccount shall no longer be effective and all of the amounts credited to such
Plan Year Subaccount shall be distributed as set forth in the following
subsections of this Section 6.1 in accordance with any applicable election by
the Participant. In the event the Participant terminates service as an Eligible
Director while receiving an in-service distribution from one or more Plan Year
Subaccounts in the form of annual installments, such payments will continue as
scheduled.

         (b)      When a Participant terminates service as an Eligible Director
for any reason including death, the amounts credited to his or her Plan Year
Subaccounts that are not then in pay status pursuant to in-service distribution
elections shall be distributed to the Participant (or his or her Beneficiary) in
60 substantially equal quarterly installments beginning as soon as practicable
following his or her Payment Eligibility Date. Notwithstanding the foregoing, a
Participant may elect to receive distribution of one or more of his or her Plan
Year Subaccounts in a lump sum or in 20, 40 or 60 substantially equal quarterly
installments beginning as soon as practicable following the Participant's
Payment Eligibility Date, provided that his or her election is filed with the
Committee either (i) at the time of making his or her deferral election for the
Plan Year for which the Plan Year Subaccount was established (as described in
Section 3.1(h)), or (ii) at least one year prior to his or her termination of
service as an Eligible Director on a form provided and in a manner specified by
the Committee. A Participant may change the form of distribution, provided that
his or her change election is made on a form and in a manner specified by the
Committee and such election is received by the Committee at least one year prior
to the date

                                       11
<PAGE>

distribution is to be made (or installments are to commence). Notwithstanding
anything contained herein to the contrary, (i) in the event that the amount
credited to a Participant's Deferral Account is less than $50,000 as of the end
of the month in which his or her service as an Eligible Director terminates,
such amount shall be paid in a cash lump sum payment as soon as practicable
following his or her Payment Eligibility Date, or (ii) in the event that the sum
of the amounts credited to the Participant's Plan Year Subaccounts that are
subject to the same election as to date of commencement of distribution and
number of installments is less than $50,000 at the end of the month in which the
Participant's service as an Eligible Director terminates, such amount shall be
paid in a cash lump sum payment as soon as practicable following his or her
Payment Eligibility Date.

         (c)      The Participant's Plan Year Subaccounts shall continue to be
credited with earnings pursuant to Sections 4.1 and 4.2 of the Plan until all
amounts credited to his or her Plan Year Subaccounts under the Plan have been
distributed.

         (d)      In the event that a former Participant dies while receiving
installment payments under this Plan, any remaining installments shall be paid
to the Participant's Beneficiary as such installments would have otherwise been
due to the Participant.

6.2 -    NONSCHEDULED IN-SERVICE WITHDRAWALS.

         At any time prior to his or her termination of service as an Eligible
Director, a Participant may elect to withdraw an amount not in excess of the
amounts credited to his or her Deferral Account, reduced by the withdrawal
penalty described below. The Participant may make such an election by filing a
written notice with the Committee on a form provided and in the manner specified
by the Committee. Within 90 days following the Committee's receipt of such
notice, an amount equal to 90% of the amount that the Participant has elected to
withdraw from his or her Deferral Account shall be paid to the Participant in a
cash lump sum payment. Upon the payment of such withdrawal, (a) an amount equal
to 10% of the amount the Participant has elected to withdraw from the
Participant's Deferred Compensation Account shall be forfeited, (b) the
Participant shall cease to participate in the Plan for the remainder of the Plan
Year in which the withdrawal occurs and shall be ineligible to participate
during the Plan Year immediately following the Plan Year in which the withdrawal
occurs, and (c) any deferral elections made by the Participant for such periods
shall terminate. A Participant may not make more than two withdrawals under this
Section 6.2. The amount of any such payments and forfeitures shall be deducted
from the amounts credited to the Participant's Plan Year Subaccounts in such
order and in such proportions as the Committee may determine in its sole
discretion. The remaining

                                       12
<PAGE>

amounts credited to a Participant's Plan Year Subaccounts shall be distributed
in accordance with the Participant's elections with respect to such Plan Year
Subaccounts.

6.3 -    HARDSHIP WITHDRAWALS.

         Upon written request of a Participant, the Committee may, in its sole
discretion, make a lump sum payment to a Participant and/or accelerate the
payment of installment payments due to the Participant in order to meet a severe
financial hardship to the Participant resulting from (a) a sudden and unexpected
illness or accident of the Participant or a dependent of the Participant, (b)
loss of the Participant's property due to casualty or (c) other similar
extraordinary and unforeseeable circumstances arising as a result of events
beyond the control of the Participant. However, no payment shall be made under
this Section 6.3 to the extent that a hardship is or may be relieved (a) through
reimbursement or compensation by insurance or otherwise, (b) by liquidation of
the Participant's assets, to the extent the liquidation of such assets would not
itself cause severe financial hardship or (c) by cessation of deferrals under
the Plan effective for the next Plan Year. The amount of any hardship lump sum
payment and/or accelerated amount under this Section 6.3 shall not exceed the
lesser of (a) the amount required to meet the immediate financial need created
by such hardship or (b) the entire amounts credited to the Participant's
Accounts. The amount of any such payments shall be deducted from the amounts
credited to the Participant's Plan Year Subaccounts in such order and in such
proportions as the Committee may determine in its sole discretion. The remaining
amounts credited to a Participant's Plan Year Subaccounts shall be distributed
in accordance with the Participant's elections with respect to such Plan Year
Subaccounts.

6.4 -    INABILITY TO LOCATE PARTICIPANT.

         In the event that the Committee is unable to locate a Participant or
Beneficiary within two years following the Participant's Payment Eligibility
Date, the amounts allocated to the Participant's Deferral Account shall be
forfeited. If, after such forfeiture, the Participant or Beneficiary later
claims such benefits, such benefits shall be reinstated without interest or
earnings.

6.5 -    CHANGE IN CONTROL.

         In the event of a Change in Control, a Participant shall receive the
amounts allocated to his or her Deferral Account in a cash lump sum payment as
soon as practicable following the Change in Control.

                                       13
<PAGE>

6.6 -    DEATH BENEFIT FOR CERTAIN PARTICIPANTS.

         (a)      For each Participant who is named in the list attached hereto
as Schedule 1, the Bank shall provide life insurance coverage in the amount set
forth next to his or her name in Schedule 1, beginning on the date such
Participant executes an "Agreement for Transfer of Policy and Termination of
Split-Dollar Life Insurance Agreement" and ending on December 31, 2009 (the
"Coverage Period"). Such life insurance coverage shall remain in effect
throughout the Coverage Period even if the Participant ceases to serve as an
Eligible Director.

         (b)      The Bank shall provide such life insurance coverage by
maintaining a life insurance policy (the "Policy") on the life of each named
Participant. Each such Participant shall be entitled to name a beneficiary
(which need not be his or her Beneficiary under this Plan) to receive the
portion of the death benefit under the Policy that is equal to the amount set
forth as his or her death benefit in Schedule 1 (his or her "Death Benefit").
The Participant may make a beneficiary designation or change a beneficiary
designation in writing in accordance with procedures established by the
Committee. No beneficiary designation will become effective until it is filed in
accordance with the Committee's procedures. If no beneficiary designation is in
effect, the Death Benefit shall be paid to the Participant's Beneficiary under
this Plan. If the actual death benefit under the Policy exceeds the Death
Benefit, the excess death benefit under the Policy shall be paid to the Bank.

         (c)      At the end of Coverage Period, the Bank shall cease to provide
the life insurance coverage described herein and the provisions of this Section
6.6 shall terminate and have no further effect.

                                       14
<PAGE>

                                   ARTICLE VII
                                 ADMINISTRATION

7.1 -    COMMITTEE ACTION.

         The Committee shall act at meetings by affirmative vote of a majority
of the members of the Committee. Any action permitted to be taken at a meeting
may be taken without a meeting if, prior to such action, a written consent to
the action is signed by all members of the Committee and such written consent is
filed with the minutes of the proceedings of the Committee. A member of the
Committee shall not vote or act upon any matter which relates solely to himself
or herself as a Participant. The Chairman or any other member or members of the
Committee designated by the Chairman may execute any certificate or other
written direction on behalf of the Committee.

7.2 -    POWERS AND DUTIES OF THE COMMITTEE.

         (a)      The Committee, on behalf of the Participants and their
Beneficiaries, shall enforce the Plan in accordance with its terms, shall be
charged with the general administration of the Plan, and shall have all powers
necessary to accomplish its purposes, including, but not by way of limitation,
the following:

                  (i)      To select the funds or portfolios to be the Funds in
                           accordance with Section 3.2(b) hereof;

                  (ii)     To construe and interpret the terms and provisions of
                           this Plan;

                  (iii)    To compute and certify to the amount and kind of
                           benefits payable to Participants and their
                           Beneficiaries;

                  (iv)     To maintain all records that may be necessary for the
                           administration of the Plan;

                  (v)      To provide for the disclosure of all information and
                           the filing or provision of all reports and statements
                           to Participants, Beneficiaries or governmental
                           agencies as shall be required by law;

                                       15
<PAGE>

                  (vi)     To make and publish such rules for the regulation of
                           the Plan and procedures for the administration of the
                           Plan as are not inconsistent with the terms hereof;
                           and

                  (vii)    To appoint a plan administrator or any other agent,
                           and to delegate to them such powers and duties in
                           connection with the administration of the Plan as the
                           Committee may from time to time prescribe.

7.3 -    CONSTRUCTION AND INTERPRETATION.

         The Committee shall have full discretion to construe and interpret the
terms and provisions of this Plan, which interpretation or construction shall be
final and binding on all parties, including but not limited to the Bank and any
Participant or Beneficiary. The Committee shall administer such terms and
provisions in a uniform and nondiscriminatory manner and in full accordance with
any and all laws applicable to the Plan.

7.4 -    INFORMATION.

         To enable the Committee to perform its functions, the Bank shall supply
full and timely information to the Committee on all matters relating to the
Compensation of all Participants, their death or other cause of termination, and
such other pertinent facts as the Committee may require.

7.5 -    COMPENSATION, EXPENSES AND INDEMNITY.

         (a)      The members of the Committee shall serve without compensation
for their services hereunder.

         (b)      The Committee is authorized at the expense of the Bank to
employ such legal counsel as it may deem advisable to assist in the performance
of its duties hereunder. Expenses and fees in connection with the administration
of the Plan shall be paid by the Bank.

         (c)      To the extent permitted by applicable state law, the Bank
shall indemnify and save harmless the Committee and each member thereof, the
Board of Directors and each member thereof, and delegates of the Committee who
are employees of the Bank against any and all expenses, liabilities and claims,
including legal fees to defend against such liabilities and claims arising out
of their discharge in good faith of responsibilities under or incident to the
Plan, other than expenses and liabilities arising out of willful misconduct.
This indemnity shall not preclude such further indemnities as may be available
under insurance purchased by the Corporation or provided by the Bank under any
bylaw, agreement or otherwise, as such indemnities are permitted under state
law.

                                       16
<PAGE>

7.6 -    QUARTERLY STATEMENTS.

         Under procedures established by the Committee, a Participant shall
receive a statement with respect to such Participant's Account as of the last
day of each calendar quarter.

7.7 -    CLAIMS PROCEDURE.

         (a)      CLAIM. A person who believes that he or she is being denied a
benefit to which he or she is entitled under this Plan (hereinafter referred to
as "Claimant") may file a written request for such benefit with the Committee,
setting forth his or her claim. The request must be addressed to the Committee
at the Bank's principal place of business.

         (b)      CLAIM DECISION. Upon receipt of a claim, the Committee shall
advise the Claimant that a reply will be forthcoming within ninety (90) days and
shall, in fact, deliver such reply within such period. The Committee may,
however, extend the reply period for an additional ninety (90) days for special
circumstances. If the claim is denied in whole or in part, the Committee shall
inform the Claimant in writing, using language calculated to be understood by
the Claimant, setting forth: (i) the specified reason or reasons for such
denial; (ii) the specific reference to pertinent provisions of this Plan on
which such denial is based; (iii) a description of any additional material or
information necessary for the Claimant to perfect his or her claim and an
explanation why such material or such information is necessary; (iv) appropriate
information as to the steps to be taken if the Claimant wishes to submit the
claim for review; and (v) the time limits for requesting a review under
subsection (c).

         (c)      REQUEST FOR REVIEW. Within sixty (60) days after the receipt
by the Claimant of the written opinion described above, the Claimant may request
in writing that the Committee review the determination. Such request must be
addressed to the Committee, at the Bank's principal place of business. The
Claimant or his or her duly authorized representative may, but need not, review
the pertinent documents and submit issues and comments in writing for
consideration by the Committee. If the Claimant does not request a review within
such sixty (60) day period, he or she shall be barred and estopped from
challenging the original determination.

         (d)      REVIEW OF DECISION. Within sixty (60) days after the
Committee's receipt of a request for review, after considering all materials
presented by the Claimant, the Committee will inform the Claimant in writing,
in a manner calculated to be understood by the Claimant, of its decision
setting forth the specific reasons for the decision and containing specific
references to the pertinent provisions of this Plan on which the decision is
based. If special circumstances require that the sixty (60) day time period
be extended, the Committee will so notify the Claimant and will render the
decision as soon as possible, but no later than one hundred twenty (120) days
after receipt of the request for review.

                                       17
<PAGE>

                                  ARTICLE VIII
                                  MISCELLANEOUS

8.1 -    UNSECURED GENERAL CREDITOR.

         Participants and their Beneficiaries, heirs, successors, and assigns
shall have no legal or equitable rights, claims, or interest in any specific
property or assets of the Bank. No assets of the Bank shall be held under any
trust, or held in any way as collateral security for the fulfilling of the
obligations of the Bank under this Plan, although the Bank may establish one or
more grantor trusts subject to Code Section 671 to facilitate the payment of
benefits hereunder. Any and all of the Bank's assets shall be, and remain, the
general unpledged, unrestricted assets of the Bank. The Bank's obligation under
the Plan shall be merely that of an unfunded and unsecured promise of the Bank
to pay money in the future, and the rights of the Participants and Beneficiaries
shall be no greater than those of unsecured general creditors. It is the
intention of the Bank that this Plan and any trust established to facilitate the
payment of benefits hereunder be unfunded for purposes of the Code and for
purposes of Title I of ERISA.

8.2 -    RESTRICTION AGAINST ASSIGNMENT.

         The Bank shall pay all amounts payable hereunder only to the person or
persons designated by the Plan and not to any other person or corporation. No
part of a Participant's Account shall be liable for the debts, contracts, or
engagements of any Participant, his or her Beneficiary, or successors in
interest, nor shall a Participant's Account be subject to execution by levy,
attachment, or garnishment or by any other legal or equitable proceeding, nor
shall any such person have any right to alienate, anticipate, sell, transfer,
commute, pledge, encumber, or assign any benefits or payments hereunder in any
manner whatsoever. If any Participant, Beneficiary or successor in interest is
adjudicated bankrupt or purports to anticipate, alienate, sell, transfer,
assign, pledge, encumber or charge any distribution or payment from the Plan,
voluntarily or involuntarily, the Committee, in its discretion, may cancel such
distribution or payment (or any part thereof) to or for the benefit of such
Participant, Beneficiary or successor in interest in such manner as the
Committee shall direct.

8.3 -    WITHHOLDING.

         There shall be deducted from each payment made under the Plan any taxes
which are required to be withheld by the Bank in respect to such payment. The
Bank shall have the right to reduce any payment by the amount of cash sufficient
to provide the amount of said taxes.

                                       18
<PAGE>

8.4 -    AMENDMENT, MODIFICATION, SUSPENSION OR TERMINATION.

         The Bank may amend, modify, suspend or terminate the Plan in whole or
in part, except that no amendment, modification, suspension or termination shall
have any retroactive effect to reduce any amounts allocated to a Participant's
Account. In the event that this Plan is terminated, the distribution of the
amounts credited to a Participant's Deferral Account shall not be accelerated
but shall be paid at such time and in such manner determined under the terms of
the Plan immediately prior to termination as if the Plan had not been
terminated. (Neither the Policies themselves nor the death benefit described in
Section 6.6 shall be treated as allocated to Accounts.)

8.5 -    GOVERNING LAW.

         This Plan shall be construed, governed and administered in accordance
with the laws of the State of California.

8.6 -    RECEIPT OR RELEASE.

         Any payment to a Participant or the Participant's Beneficiary in
accordance with the provisions of the Plan shall, to the extent thereof, be in
full satisfaction of all claims against the Committee, the Corporation and the
Bank. The Committee may require such Participant or Beneficiary, as a condition
precedent to such payment, to execute a receipt and release to such effect.

8.7 -    PAYMENTS ON BEHALF OF PERSONS UNDER INCAPACITY.

         In the event that any amount becomes payable under the Plan to a person
who, in the sole judgment of the Committee, is considered by reason of physical
or mental condition to be unable to give a valid receipt therefore, the
Committee may direct that such payment be made to any person found by the
Committee, in its sole judgment, to have assumed the care of such person. Any
payment made pursuant to such determination shall constitute a full release and
discharge of the Committee, the Corporation and the Bank.

8.8 -    HEADINGS, ETC. NOT PART OF AGREEMENT.

         Headings and subheadings in this Plan are inserted for convenience of
reference only and are not to be considered in the construction of the
provisions hereof.

                                       19
<PAGE>

         IN WITNESS WHEREOF, the Bank has executed this document this 28th day
of February, 2001.

                                        CITY NATIONAL BANK

                                        By:  /s/ KATE DWYER
                                             ------------------------------
                                             Kate Dwyer
                                        Its: Executive Vice President
                                             Human Resources Division

                                       20

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]