Document:

exv10w3

EXHIBIT 10.3

INDEMNIFICATION AGREEMENT

     THIS INDEMNIFICATION AGREEMENT (the “Agreement”) is made as of this                      day of                     ,
200   , by and between United Commercial Bank, a California state-chartered bank, (the “Bank”) and
                                        , an individual (“Indemnitee”).

RECITALS

     A.     The Bank and Indemnitee recognize that unforeseen litigation may subject directors,
officers and agents to costs and expenses.

     B.     The Bank desires to attract and retain the services of highly qualified individuals, such
as Indemnitee, to serve as directors, officers and agents of the Bank and to indemnify its
directors, officers and agents so as to provide them with the maximum protection permitted by law.

     In consideration of the Recitals set forth above and mutual covenants and agreements set forth
below, the Bank and Indemnitee do hereby agree as follows:

AGREEMENT

     1.     Indemnification and Expense Advancement.

             (a)     Proceedings Other than by Right of the Bank. The Bank shall indemnify Indemnitee
if Indemnitee was or is a party or is threatened to be made a party to any proceeding (other than
an action by or in the right of the Bank to procure a judgment in its favor) by reason of the fact
that Indemnitee is or was an Agent (as defined in Section 1(i) below) of the Bank, against costs,
expenses, judgments, fines, settlements and other amounts actually and reasonably incurred in
connection with such proceeding if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in the best interests of the Bank and, in the case of a criminal
proceeding, has no reasonable cause to believe the conduct of Indemnitee was unlawful. The
termination of any proceeding by judgment, order, settlement, conviction or upon a plea of nolo
contendere or its equivalent shall not, of itself, create a presumption that Indemnitee did not act
in good faith and in a manner which Indemnitee reasonably believed to be in the best interests of
the Bank or that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.

             (b)     Proceedings By or in the Right of the Bank. The Bank shall indemnify Indemnitee
if Indemnitee was or is a party or is threatened to be made a party to any threatened, pending or
completed action by or in the right of the Bank to procure a judgment in its favor by reason of the
fact that Indemnitee is or was an Agent of the Bank, against expenses actually and reasonably
incurred by Indemnitee in connection with the defense or settlement of such action if Indemnitee
acted in good faith, in a manner Indemnitee believed to be in the best interests of the

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Bank and its shareholders; except that no indemnification shall be made under this Section 1(b) for
any of the following:

                      (i)     In respect of any claim, issue or matter as to which Indemnitee shall have been adjudged
to be liable to the Bank in the performance of Indemnitee’s duty to the Bank and its shareholders,
unless and only to the extent that the court in which such proceeding is or was pending shall
determine upon application that, in view of all the circumstances of the case, Indemnitee is fairly
and reasonably entitled to indemnity for the expenses which such court shall determine;

                      (ii)     Of amounts paid in settling or otherwise disposing of a pending action without court
approval; or

                      (iii)     Of expenses incurred in defending a pending action which is settled or otherwise
disposed of without court approval.

             (c)     Determination of Right of Indemnification. Any indemnification under Sections
1(a) and (b) shall be made by the Bank only if authorized in the specific case, upon a
determination that indemnification of Indemnitee is proper in the circumstances because Indemnitee
has met the applicable standard of conduct set forth above in Sections 1(a) and (b) by any of the
following:

                      (i)     A majority vote of a quorum consisting of directors who are not parties to such
proceeding; or

                      (ii)     If such a quorum of directors is not obtainable, by independent legal counsel in a
written opinion; or

                      (iii)     Approval of the shareholders by the affirmative vote of a majority of the shares
entitled to vote represented at a duly held meeting at which a quorum is present or by the written
consent of shareholders as provided in the Bylaws, with the shares owned by the person to be
indemnified not being entitled to vote thereon; or

                      (iv)     By the court in which such proceeding is or was pending upon application made by the Bank
or its Agent or attorney or other person rendering services in connection with the defense, whether
or not such application by the Agent, attorney or other person is opposed by the Bank.

             (d)     Advances of Expenses. Expenses (including reasonable attorneys’ and experts’
fees), costs, and charges incurred in defending any proceeding shall be advanced promptly by the
Bank prior to the final disposition of such proceeding upon receipt of a written undertaking by or
on behalf of Indemnitee to repay such amount unless it shall be determined ultimately that
Indemnitee is entitled to be indemnified as authorized in this Section 1. The form of such
undertaking shall be substantially similar to Exhibit A hereto.

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             (e)     Indemnification Against Expenses of Successful Party. Notwithstanding the other
provisions of this Section 1, to the extent that Indemnitee has been successful on the merits in a
defense of any proceeding, claim, issue or matter referred to in Sections 1(a) and (b), Indemnitee
shall be indemnified against all expenses actually and reasonably incurred by Indemnitee in
connection therewith.

             (f)     Right of Indemnitee to Indemnification Upon Application; Procedure Upon
Application. Any indemnification provided for in Sections 1(a), (b) or (e) shall be made no
later than ninety (90) days after the Bank is given notice of request by Indemnitee, provided that
any indemnification under Sections 1(a) and (b) is authorized pursuant to Section 1(c). Any such
request for indemnification must be made within ninety (90) days of the final adjudication,
dismissal, or settlement of the matter for which Indemnitee seeks indemnification, unless an appeal
is filed, in which case the request may be made within ninety (90) days after the appeal is
resolved (hereafter referred to as “Final Disposition”). Upon such notice, if a quorum of
directors who were not parties to the action, suit, or proceeding giving rise to indemnification is
obtainable, the Bank shall within two (2) weeks call a Board of Directors meeting to be held within
four (4) weeks of such notice, to make a determination as to whether Indemnitee has met the
applicable standard of conduct. Otherwise, if a quorum consisting of directors who were not
parties in the relevant action, suit, or proceeding is not obtainable, the Bank shall retain (at
the Bank’s expense) independent legal counsel chosen by the Bank within two (2) weeks to make such
determination.

                      If notice of a request for payment of a claim under any statute, under this Agreement, or
under the Bank’s Articles of Incorporation or Bylaws providing for indemnification or advance of
expenses has been given to the Bank by Indemnitee, and such claim is not paid in full by the Bank
within ninety (90) days of the later occurring of the giving of such notice and Final Disposition
in case of indemnification and ten (10) days of the giving of such notice in case of advance of
expenses, Indemnitee may, but need not, at any time thereafter bring an action against the Bank to
receive the unpaid amount of the claim or the expense advance and, if successful, Indemnitee shall
also be paid for the expenses (including reasonable attorneys’ and experts’ fees) of bringing such
action. It shall be a defense to any such action (other than an action brought to enforce a claim
for expenses incurred in connection with any action, suit, or proceeding in advance of its Final
Disposition) that Indemnitee has not met the standards of conduct which make it permissible under
applicable law for the Bank to indemnify Indemnitee for the amount claimed, and Indemnitee shall be
entitled to receive interim payment of expenses pursuant to Section 1(d) unless and until such
defense may be finally adjudicated by court order or judgment from which no further right of appeal
exists. Neither the failure of the Bank (including its Board of Directors, independent legal
counsel, or its shareholders) to have made a determination that indemnification of Indemnitee is
proper in the circumstances because Indemnitee has met the applicable standard of conduct required
by applicable law, nor an actual determination by the Bank (including its Board of Directors or its
independent legal counsel) that Indemnitee has not met such applicable standard of conduct, shall
create a presumption that Indemnitee has or has not met the applicable standard of conduct.

             (g)     Insurance. The Bank may purchase and maintain insurance on behalf of any person
who is or was an Agent against any liability asserted against such person and

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incurred by him or
her in any such capacity, or arising out of his or her status as such, whether or not the Bank
would have the power to indemnify such person against such liability under the provisions of this
Section 1.

             (h)     Optional Means of Assuring Payment. Upon request by an Indemnitee certifying that
Indemnitee has reasonable grounds to believe Indemnitee may be made a party to a proceeding for
which Indemnitee may be entitled to be indemnified under this Section 1, the Bank may, but is not
required to, create a trust fund, grant a security interest or use other means (including, without
limitation, a letter of credit) to ensure the payment of such sums as may become necessary to
effect indemnification as provided herein.

             (i)     Definition of Agent. For the purposes of this Agreement, “Agent” means any person
who is or was a director, officer, employee or other agent of the Bank, or is or was serving at the
request of the Bank as a director, officer, employee or agent of another foreign or domestic Bank,
partnership, joint venture, trust or other enterprise, or was a director, officer, employee or
agent of a foreign or domestic Bank which was a predecessor Bank of the Bank or of another
enterprise at the request of such predecessor Bank; “proceeding” means any threatened, pending or
completed action or proceeding, whether civil, criminal, administrative or investigative; and
“expenses” includes without limitation reasonable attorneys’ and experts’ fees and any expenses of
establishing a right to indemnification.

             (j)     Indemnification under Section 204(a)(11) of the California General Corporation
Law. Subject to the provisions of California General Corporation Law Section 204(a)(11) and
any other applicable law, notwithstanding any other provisions of this Section 1, the following
shall apply to the indemnification of Indemnitee:

                      (i)     The Bank shall indemnify Indemnitee pursuant to this Section 1(l) if the Bank would be
required to indemnify Indemnitee pursuant to Sections 1(a) or (b) if in Section 1(a) or (b) the
phrase “in a manner Indemnitee reasonably believed to be in the best interests of the Bank” is
replaced with the phrase “in a manner Indemnitee did not believe to be contrary to the best
interests of the Bank.” If pursuant to Sections 1(c) and (f) the person making the Section 1(a)
and/or (b) conduct standard determination determines that such standard has not been satisfied,
such person shall also determine whether this Section 1(l)(i) conduct standard has been satisfied;

                      (ii)     There shall be a presumption that Indemnitee met the applicable standard of conduct
required to be met in Section 1(c) for indemnification, rebuttable by clear and convincing evidence
to the contrary;

                      (iii)     The Bank shall have the burden of proving that Indemnitee did not meet the applicable
standard of conduct in Section 1(c);

                      (iv)     In addition to the methods provided for in Section 1(c), a determination that
indemnification is proper in the circumstances because that Indemnitee met the applicable standard
of conduct may also be made by the arbitrator in any arbitration proceeding in which such matter is
or was pending; and

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                      (v)     Unless otherwise agreed to in writing between an Indemnitee and the Bank in any specific
case, indemnification may be made under Section 1(b) for amounts paid in settling or otherwise
disposing of a pending action without court approval.

     2.     Changes.

             In the event of any change, after the date of this Agreement, in any applicable law, statute,
or rule which expands the right of a California state-chartered bank to indemnify a member of its
board of directors, its officers or its Agents, such changes shall automatically expand, without
further action of the parties, Indemnitee’s rights and the Bank’s obligations, under this
Agreement. In the event of any change in any applicable law, statute or rule which narrows the
right to indemnify a member of its board of directors, its officers or its Agents, such changes, to
the extent not otherwise required by such law, statute or rule to be applied to this Agreement,
shall have no effect on this Agreement or the parties’ rights and obligations hereunder. In the
event of an amendment to the Bank’s Bylaws which expands the right to indemnify a member of its
board of directors, its officers or its Agents, such change shall automatically expand, without
further action of the parties, Indemnitee’s rights and Bank’s obligations under this Agreement. In
the event of any amendment to the Bank’s Bylaws which narrows such right of a California
state-chartered bank to indemnify a member of its board of directors, its officers or its Agents,
such change shall only apply to the indemnification of Indemnitee for acts committed, or lack of
action, by Indemnitee after such amendment. The Bank agrees to give Indemnitee prompt written
notice of amendments to the Bank’s Bylaws which concern indemnification.

     3.     Nonexclusivity.

             The indemnification provided by this Agreement shall not be deemed exclusive of any rights to
which Indemnitee may be entitled under the Bank’s Articles of Incorporation, its Bylaws, any
agreement, any vote of shareholders or disinterested Directors, the California General Corporation
Law, or otherwise, both as to action in Indemnitee’s official capacity and as to action in any
other capacity while holding such office (an “Indemnified Capacity”). The indemnification provided
under this Agreement shall continue as to Indemnitee for any action taken or not taken while
serving in an Indemnified Capacity even though such Indemnitee may have ceased to serve in an
Indemnified Capacity at the time of any action, suit or other covered proceeding, and shall inure
to the benefit of the heirs, executors, and administrators of Indemnitee.

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     4.     Partial Indemnification.

             If Indemnitee is entitled under any provision of this Agreement to indemnification by the Bank
for some or a portion of the expenses, judgment, fines or penalties actually or reasonably incurred
by Indemnitee in the investigation, defense, appeal or settlement of any civil or criminal action,
suit or proceeding, but not, however, for the total amount thereof, the Bank shall nevertheless
indemnify Indemnitee for the portion of such expenses, judgments, fines or penalties to which
Indemnitee is entitled pursuant to this Agreement.

     5.     Potential Limitations.

             Both the Bank and Indemnitee acknowledge that in certain instances, California state law and
federal banking laws and regulations, federal law or public policy may override applicable state
law and prohibit the Bank from indemnifying its directors and officers under this Agreement or
otherwise. For example, the Bank and Indemnitee acknowledge that the federal regulators have taken
the position that indemnification is not permissible for liabilities arising under certain federal
securities laws, and federal legislation prohibits indemnification for certain ERISA violations.
Indemnitee understands and acknowledges that the Bank has undertaken or may be required in the
future to undertake with federal regulators to submit questions of indemnification to a court in
certain circumstances for a determination of the Bank’s right under public policy to indemnify
Indemnitee. Furthermore, Indemnitee and Bank acknowledge that the extent of (i) indemnification
permissible under Section 204(a)(11) of the California General Corporation Law has not been
judicially determined; therefore, the enforceability of Indemnitee’s rights under Section 1(l) is
uncertain; and (ii) advancement of expenses and indemnification of Indemnitee in the event of a
proceeding or action described in Section 7(a) below, is also uncertain and may not be permissible
or may be subject to applicable regulatory restrictions.

     6.     Severability.

             Nothing in this Agreement is intended to require or shall be construed as requiring the Bank
to do or fail to do any act in violation of applicable law. The Bank’s inability, pursuant to
court order, to perform its obligations under this Agreement shall not constitute a breach of the
Agreement. If the application of any provision or provisions of the Agreement to any particular
facts or circumstances shall be held to be invalid or unenforceable by any court of competent
jurisdiction, then (i) the validity and enforceability of such provision or provisions as applied
to any other particular facts or circumstances and the validity of other provisions of this
Agreement shall not in any way be affected or impaired thereby and (ii) such provision(s) shall be
reformed without further action by the parties to make such provision(s) valid and enforceable when
applied to such facts and circumstances with a view toward requiring the Bank to indemnify
Indemnitee to the fullest extent permissible by law.

     7.     Exceptions.

             Notwithstanding any other provision herein to the contrary, the Bank shall not be obligated
pursuant to the terms of this Agreement:

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             (a)     Regulatory Agency Proceedings. To indemnify Indemnitee for expenses, penalties or
other payments incurred in an administrative proceeding or action threatened instituted by a bank
regulatory agency, which proceeding or action results in a final order imposing injunctive or
similar relief or assessing civil money penalties or in any other resolution requiring or
preventing action by the Indemnitee; or

             (b)     Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee
with respect to proceedings or claims (except counter-claims or cross-claims) initiated or brought
voluntarily by Indemnitee and not by way of defense, except with respect to proceedings brought to
establish or enforce a right to indemnification under this Agreement or any other statute or law or
otherwise as required by the California General Corporation Law, but such indemnification or
advancement of expenses may be provided by the Bank in specific cases if the Board of Directors
finds it to be appropriate; or

             (c)     Lack of Good Faith. To indemnify Indemnitee for any expenses incurred by
Indemnitee with respect to any proceeding instituted by Indemnitee to enforce or interpret this
Agreement, if a majority of the Bank’s directors or a court of competent jurisdiction determines
that the material assertions made by Indemnitee in such proceeding were not made in good faith or
was frivolous; or

             (d)     Insured Claims. To indemnify Indemnitee for expenses or liabilities of any type
whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and
amounts paid in settlement) which have been paid directly to Indemnitee by an insurance carrier
under a policy of officers’ and directors’ liability or other insurance maintained by the Bank; or

             (e)     Claims under Section 16(b). To indemnify Indemnitee for expenses or the payment
of profits arising from the purchase and sale by Indemnitee of securities in violation of Section
16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute.

     8.     Counterparts.

             This Agreement may be executed in one or more counterparts, each of which shall constitute an
original.

     9.     Successors and Assigns.

             This Agreement shall be binding upon the Bank and its successors and assigns, and shall inure
to the benefit of Indemnitee and Indemnitee’s estate, heirs, and legal representatives and
permitted assigns. Indemnitee may not assign this Agreement without the prior written consent of
the Bank.

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     10.     Attorneys’ Fees.

               In the event that any action is instituted by Indemnitee under this Agreement to enforce or
interpret any of the terms hereof, Indemnitee shall be entitled to be paid all court costs and
expenses, including reasonable attorneys’ and experts’ fees, incurred by Indemnitee with respect to
such action, unless as a part of such action, the court of competent jurisdiction determines that
each of the material assertions made by Indemnitee as a basis for such action were not made in good
faith or were frivolous. In the event of an action instituted by or in the name of the Bank under
this Agreement or to enforce or interpret any of the terms of this Agreement, Indemnitee shall be
entitled to be paid all court costs and expenses, including reasonable attorneys’ and experts’
fees, incurred by Indemnitee in defense of such action (including with respect to Indemnitee’s
counterclaims and cross-claims made in such action), unless as a part of such action the court
determines that each of Indemnitee’s material defenses to such action were made in bad faith or
were frivolous.

     11.     Notice.

               All notices, requests, demands and other communications under this Agreement shall be in
writing and shall be deemed duly given (i) if delivered by hand and signed for by the party
addressee, on the date of such receipt, or (ii) if mailed by certified or registered mail with
postage prepaid, on the third business day after the date postmarked. Addresses for notice to
either party are as shown on the signature page of this Agreement, or as subsequently modified by
written notice.

     12.     Section Headings.

               The Section headings in this Agreement are solely for convenience and shall not be considered
in its interpretation.

     13.     Waiver.

               A waiver by either party of any term or condition of the Agreement or any breach thereof, in
any one instance, shall not be deemed or construed to be a waiver of such term or condition or of
any subsequent breach thereof.

     14.     Entire Agreement; Amendment.

               This instrument contains the entire integrated Agreement between the parties hereto and
supersedes all prior negotiations, representations or agreements, whether written or oral except
for the Bank’s Articles of Incorporation and Bylaws. It may be amended only by a written
instrument signed by a duly authorized officer of Bank and by Indemnitee.

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     15.     Choice of Law and Forum.

               Except for that body of law governing choice of law, this Agreement shall be governed by, and
construed in accordance with, internal laws of the State of California which govern transactions
between California residents.

     16.     Mediation/Arbitration.

               (a)     All disputes, claims or controversies arising out of or relating to this Agreement
(collectively, “Disputes”) shall be submitted to non-binding mediation by either party to an
impartial mediator, as agreed to by the parties, and appointed through JAMS in San Francisco,
California, for a good faith effort at resolution. The mediator shall review the Dispute within
thirty (30) days of submission or at such other time provided the parties so agree. Any mediation
fee shall be paid equally among the parties. Any Dispute which is not resolved through such
mandatory mediation shall be settled by final and binding arbitration before a single neutral
arbitrator of JAMS in accordance with the then current Commercial Arbitration Rules of the American
Arbitration Association in San Francisco, California. Judgment on the award rendered by the
arbitrator may be entered in any court in California. In the event that any Dispute between
Indemnitee and the Bank should result in arbitration, the prevailing party in the Dispute shall be
entitled to recover from the other party all reasonable fees, costs and expenses of enforcing any
right of the prevailing party, including, without limitation, reasonable attorneys’ fees, experts’
fees, and expenses. Each party agrees that the Dispute as mediated and/or arbitrated and the final
resolution of such Dispute shall be considered to be confidential information, and shall be kept
confidential by each party.

               (b)     Indemnitee specifically acknowledges and understands that by agreeing to this provision,
Indemnitee is waiving all rights to have his or her claims brought, investigated, and/or
adjudicated by an administrative agency, or heard before a judge or jury. Indemnitee also
understands that Indemnitee’s rights to discovery may be lesser or narrower in arbitration, that
there may be fees and costs associated with mediation and/or arbitration that Indemnitee may not
otherwise have, and that Indemnitee is waiving substantial time that Indemnitee might otherwise
have to make a claim, prepare his or her case, or investigate his or her claims. The claims
include claims of any kind relating to Indemnitee’s relationship with the Bank, including claims
relating to compensation, discrimination, any benefits, status as an officer, director or Agent of
the Bank, conflict of interest, or any other claim or dispute relating to or arising out of
Indemnitee’s relationship with the Bank. The underlying Disputes shall be fully and finally
resolved through arbitration, including any right to permanent injunctive relief.

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     17.     Consideration.

               Part of the consideration the Bank is receiving from Indemnitee to enter into this Agreement
is Indemnitee’s agreement to serve or to continue to serve, as applicable, for the present as an
officer, director or Agent of the Bank. Nothing in this Agreement shall preclude Indemnitee from
resigning as an officer, director or Agent of the Bank nor the Bank, by action of its shareholders,
board of directors, or officers, as the case may be, from terminating Indemnitee’s services as an
officer, director or Agent, as the case may be, with or without cause.

[Remainder of page intentionally left blank]

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     IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above
written.

	 	 	 	 	 	 	 	 	 	 	 
	INDEMNITEE:	 	 	 	 	 	UNITED COMMERCIAL
BANK	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By	 	 	 	 
	 

Signature

	 	 
	 	 
	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Printed Name and Title	 	 
	 

Printed Name

	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	(address)	 	 	 	 	 	(address)	 	 

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EXHIBIT A

UNDERTAKING TO REPAY ADVANCEMENT

OF EXPENSES

          A.     Indemnitee is or has been a director, officer, employee or other agent of UNITED COMMERCIAL
BANK, a California state-chartered bank (the “Bank”); and

          B.     On account of such fact, Indemnitee was or is or is threatened to be made a party to the
proceeding described and designated hereinafter (the “Proceeding”); and

          C.     Indemnitee has requested that the Bank advance to Indemnitee, prior to final disposition of
the Proceeding, Indemnitee’s costs and expenses incurred in defense of the Proceeding; and

          D.     As a condition to advancement of such expenses, the Bank has required that the following
undertaking be made by or on behalf of Indemnitee.

The undersigned herein undertakes as follows:

          1.     This undertaking is executed in accordance with and is subject to Section 317 of the
California General Corporation Law, and that certain Indemnification Agreement between Indemnitee
and the Bank dated                     , and is subject to all provisions, including definitions of
terms, thereof.

          2.     Indemnitee was or is or is threatened to be made a party to the following proceeding:

	 	 	 	 	 
	          

	 	Name of Claimant or Title     	 	 
	 

	 	of Action or Proceeding:	 	 
	 

	 	 	 	 

	 	 	 	 	 	 	 
	          	 	Court or Agency
	 

	 	(if any):     
	 	 	 	 
	 

	 	 	 	 	 	 

A-1

 

	 	 	 	 	 
	          

	 	Date Filed Or Presented:     
	 	 
	 

	 	 	 	 

	 	 	 	 	 
	          

	 	Status:          	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 

	 	 	 	 	 
	          

	 	Indemnitee’s Counsel:     
	 	 
	 

	 	 	 	 

	 	 	 	 	 	 	 	 	 
	          	 	Nature and Amount	 	 
	 

	 	of Claim:     	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	 	 
	 

	 	 	 	 	 
	 

	 	 	 	 	 

          3.     In consideration of the advancement by the Bank of Indemnitee’s expenses incurred or to be
incurred in defense of the Proceeding, the undersigned hereby undertakes to repay all amounts
advanced by the Bank on account of Indemnitee’s defense of the Proceeding, unless it shall be
determined ultimately that Indemnitee is entitled to be indemnified with respect to the Proceeding
in accordance with Section 317 of the California General Corporation Law.

	 	 	 	 	 	 	 
	Date:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

	 	 	 	 	 	(Signature of Indemnitee)
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	(Printed Name of Indemnitee)

A-2exv10w30

Exhibit 10.30

April 3, 2008

Christopher Sells

Dear Christopher:

          Hansen Medical, Inc. (the “Company”) is pleased to offer you employment on the following
terms:

1. Position. Your title will be Senior Vice President, Commercial Operations, and you will report
to the Company’s President and Chief Operating Officer. This is a full-time position. While you
render services to the Company, you will not engage in any other employment, consulting or other
business activity (whether full-time or part-time) that would create a conflict of interest with
the Company. By signing this letter agreement, you confirm to the Company that you have no
contractual commitments or other legal obligations that would prohibit you from performing your
duties for the Company.

2. Cash Compensation. The Company will pay you a starting salary at the rate of $275,000 per year,
payable in accordance with the Company’s standard payroll schedule. This salary will be subject to
adjustment pursuant to the Company’s employee compensation policies in effect from time to time. In
addition, you will be eligible to be considered for a Commission/Incentive bonus for each fiscal
year after 2008. The bonus (if any) will be awarded based on objective or subjective criteria
established by the Company’s Chief Operating Officer and approved by the Compensation Committee of
the Company’s Board of Directors (the “Committee”). During the remainder of fiscal year 2008, you
will be paid a guaranteed bonus of $16,667 per month. The bonus for any fiscal year will be paid
only if you are employed by the Company at the time of payment. The determinations of the Committee
with respect to your bonus will be final and binding.

The Company will also pay you a signing bonus of $50,000, which will be paid to you within 30 days
of your first date of employment at the Company. Although you will be paid this bonus when you join
the Company, you agree that this signing bonus will not be earned until the one year anniversary
date of your first date of employment with the Company. You further agree that if you terminate
your employment with the Company for any reason before that one year anniversary date, then within
ten days of your resignation date you will repay the Company for the entire signing bonus paid to
you.

3. Employee Benefits. As a regular employee of the Company, you will be eligible to participate in
a number of Company-sponsored benefits. In addition, you will be entitled to paid vacation in
accordance with the Company’s vacation policy, as in effect from time to time.

 

 

Christopher Sells

April 3, 2008

Page 2

4. Stock Options. Subject to the approval of the Company’s Board of Directors or its Compensation
Committee, you will be granted an option to purchase 150,000 shares of the Company’s Common Stock.
The exercise price per share will be equal to the fair market value per share on the date the
option is granted.

The option will be subject to the terms and conditions applicable to options granted under the
Company’s 2006 Equity Incentive Plan (the “Plan”), as described in the Plan and the applicable
Stock Option Agreement. You will vest in 25% of the option shares after 12 months of continuous
service, and the balance will vest in equal monthly installments over the next 36 months of
continuous service, as described in the applicable Stock Option Agreement.

5. Stock Units. Subject to the approval of the Company’s Board of Directors or its Compensation
Committee, you will receive a Restricted Stock Unit Award representing 10,000 shares of the
Company’s Common Stock. The award will be subject to the terms and conditions applicable to
Restricted Stock Unit Awards granted under the Plan, as described in the Plan and the applicable
Restricted Stock Unit Award Agreement. You will vest in the first 5,000 shares of the award on
December 31, 2008 and the remaining 5,000 Units on December 31, 2009, as described in the
applicable Restricted Stock Unit Award Agreement.

6. Change in Control Agreement. The Company will offer you the opportunity to enter into a Vesting
Acceleration and Severance Agreement in the form of the document attached hereto as Exhibit A.

7. Proprietary Information and Inventions Agreement. Like all Company employees, you will be
required, as a condition of your employment with the Company, to sign the Company’s standard
Proprietary Information and Inventions Agreement, a copy of which is attached hereto as Exhibit B.

8. Employment Relationship. Employment with the Company is for no specific period of time. Your
employment with the Company will be “at will,” meaning that either you or the Company may terminate
your employment at any time and for any reason, with or without cause. Any contrary representations
that may have been made to you are superseded by this letter agreement. This is the full and
complete agreement between you and the Company on this term. Although your job duties, title,
compensation and benefits, as well as the Company’s personnel policies and procedures, may change
from time to time, the “at will” nature of your employment may only be changed in an express
written agreement signed by you and a duly authorized officer of the Company (other than you).

9. Taxes. All forms of compensation referred to in this letter agreement are subject to reduction
to reflect applicable withholding and payroll taxes and other deductions required by law. You agree
that the Company does not have a duty to design its compensation policies in a manner that
minimizes your tax liabilities, and you will not make any claim against the Company or its Board of
Directors related to tax liabilities arising from your compensation.

 

 

Christopher Sells

April 3, 2008

Page 3

10. Interpretation, Amendment and Enforcement. This letter agreement and Exhibits A and B
constitute the complete agreement between you and the Company, contain all of the terms of your
employment with the Company and supersede any prior agreements, representations or understandings
(whether written, oral or implied) between you and the Company. This letter agreement may not be
amended or modified, except by an express written agreement signed by both you and a duly
authorized officer of the Company. The terms of this letter agreement and the resolution of any
disputes as to the meaning, effect, performance or validity of this letter agreement or arising out
of, related to, or in any way connected with, this letter agreement, your employment with the
Company or any other relationship between you and the Company (the “Disputes”) will be governed by
California law, excluding laws relating to conflicts or choice of law. You and the Company submit
to the exclusive personal jurisdiction of the federal and state courts located in Santa Clara
County, California, in connection with any Dispute or any claim related to any Dispute.

*****

     We hope that you will accept our offer to join the Company. You may indicate your agreement
with these terms and accept this offer by signing and dating both the enclosed duplicate original
of this letter agreement and the enclosed Proprietary Information and Inventions Agreement and
returning them to me. This offer, if not accepted, will expire at the close of business on April 5,
2008. As required by law, your employment with the Company is contingent upon your providing legal
proof of your identity and authorization to work in the United States. Your employment is also
contingent upon your starting work with the Company on or before June 1, 2008.

If you have any questions, please call me at (908) 338-1333.

Very truly yours,

Hansen Medical, Inc.

/s/ Gary Restani

By: Gary Restani

Title: President and COO

 

 

Christopher Sells

April 3, 2008

Page 4

I have read and accept this employment offer:

	 	 	 
	 

	 	 
	/s/ Christopher Sells
	 	 
	 
	 	 
	Signature of Christopher Sells
	 	 

	 	 	 	 	 
	 

	 	 	 	 
	Dated:

	 	4-08-2008	 	 
	 

	 	 	 	 

Attachment

Exhibit A: Vesting Acceleration and Severance Agreement

Exhibit B: Proprietary Information and Inventions Agreement

 

 

Vesting Acceleration and Severance Agreement

In consideration for the continued employment of Christopher Sells (the “Employee”) at the
executive level within Hansen Medical (the “Company”):

	 	1	 	In the event of an Acquisition of the Company (as defined below) and either a) the
termination his employment for other than Cause (as defined below) or b) the material
change of his employment by substantial diminution in compensation or duties, or c)
substantial relocation of his place of work or d) employee voluntarily resigns, Employee
shall be entitled to the following:

	 	(i)	 	One-hundred percent (100%) of any then-unvested shares subject to stock
options issued to Employee shall become immediately vested and exercisable;
	 
	 	(ii)	 	One-hundred percent (100%) of any then-unvested restricted stock units
issued to Employee shall become immediately vested and issued;
	 
	 	(iii)	 	Severance equal to the total of (a) the number of months of Employee’s
employment with Company at the time of Acquisition, rounded up to the nearest whole
month, but capped at twelve (12) months, (b) divided by twelve (12) months, (c)
multiplied by Employee’s then current annual salary compensation; and
	 
	 	(iv)	 	Continuation of Employee’s then-current health, dental, vision, and
life/disability insurance benefits for a period equal to the number of months of
Employee’s employment with Company at the time of Acquisition, rounded up to the
nearest whole month, but capped at twelve (12) months.

2. The following terms shall have the following definitions:

(i) An “Acquisition” shall mean a) any consolidation or merger of the Company with or into any
other corporation or entity or person in which the stockholders of the Company prior to such
consolidation, merger or reorganization shall own less than fifty percent (50%) of the voting stock
of the continuing or surviving entity of such consolidation, merger or reorganization, b) any other
corporate reorganization in which in excess of fifty percent (50%) of the Company’s voting power is
transferred, or c) any transaction in which any person, together with its affiliates, accumulates
fifty percent (50%) or more of the Company’s voting power;

(ii) “Cause” shall mean (a) an intentional unauthorized use or disclosure of the Company’s
confidential information or trade secrets, which use or disclosure causes material harm to the
Company, (b) a material breach of any agreement between Employee and the Company, (c) a material
failure to comply with the Company’s written

—Confidential—

 

 

policies or rules, (d) conviction of, or plea of “guilty” or “no contest” to, a felony under the
laws of the United States or any state thereof, (e) gross negligence or willful misconduct or (f) a
continued failure to perform assigned duties after receiving written notification of such failure
from the Company’s Board of Directors.

Understood and Agreed:

	 	 	 	 	 
	 

	 	 	 	 
	/s/ Christopher Sells

	 	4-08-2008	 	 
	 

	 	 	 	 
	Christopher Sells                Date
	 	 	 	 
	 
	 	 	 	 
	/s/ Gary Restani

	 	04-14-2008	 	 
	 

	 	 	 	 
	Gary Restani, President and COO

	 	Date	 	 

—Confidential—

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