Document:

EX-10.6

 Exhibit 10.6 

RBB BANCORP 
 2017
OMNIBUS STOCK INCENTIVE PLAN 

 RBB BANCORP 

2017 OMNIBUS STOCK INCENTIVE PLAN 

TABLE OF CONTENTS 
  

									
	 	  	 	  	Page	 
	 1.
	  	Purpose	  	 	1	 
	 2.
	  	Definitions	  	 	1	 
		  	2.1	  	“Award”	  	 	1	 
		  	2.2	  	“Award Agreement”	  	 	1	 
		  	2.3	  	“Base Price”	  	 	1	 
		  	2.4	  	“Board”	  	 	1	 
		  	2.5	  	“Code”	  	 	1	 
		  	2.6	  	“Company”	  	 	1	 
		  	2.7	  	“Deferral Period”	  	 	1	 
		  	2.8	  	“Deferred Shares”	  	 	1	 
		  	2.9	  	“Employee”	  	 	1	 
		  	2.10	  	“Fair Market Value”	  	 	1	 
		  	2.11	  	“Freestanding Stock Appreciation Right”	  	 	2	 
		  	2.12	  	“Grant Date”	  	 	2	 
		  	2.13	  	“Incentive Stock Option”	  	 	2	 
		  	2.14	  	“Nonemployee Director”	  	 	2	 
		  	2.15	  	“Nonqualified Stock Option”	  	 	2	 
		  	2.16	  	“Option”	  	 	2	 
		  	2.17	  	“Optionee”	  	 	2	 
		  	2.18	  	“Option Price”	  	 	2	 
		  	2.19	  	“Participant”	  	 	2	 
		  	2.20	  	“Performance Objectives”	  	 	2	 
		  	2.21	  	“Performance Period”	  	 	3	 
		  	2.22	  	“Performance Share”	  	 	3	 
		  	2.23	  	“Performance Unit”	  	 	3	 
		  	2.24	  	“Qualified Performance-Based Award”	  	 	3	 
		  	2.25	  	“Restricted Shares”	  	 	3	 
		  	2.26	  	“Shares”	  	 	3	 
		  	2.27	  	“Spread”	  	 	3	 
		  	2.28	  	“Stock Appreciation Right”	  	 	3	 
		  	2.29	  	“Subsidiary”	  	 	3	 
		  	2.30	  	“Tandem Stock Appreciation Right”	  	 	3	 
	 3.
	  	Shares Available Under the Plan	  	 	3	 
		  	3.1	  	Reserved Shares	  	 	3	 
		  	3.2	  	Reduction Ratio	  	 	4	 
		  	3.3	  	ISO Maximum	  	 	4	 
		  	3.4	  	Maximum Calendar Year Award	  	 	4	 
	 4.
	  	Plan Administration	  	 	4	 
		  	4.1	  	Board Administration	  	 	4	 
	 5.
	  	Options	  	 	4	 
		  	5.1	  	Number of Shares	  	 	4	 
		  	5.2	  	Option Price.	  	 	4	 
		  	5.3	  	Consideration.	  	 	4	 
		  	5.4	  	Payment of Option Price in Shares	  	 	4	 
		  	5.5	  	Cashless Exercise	  	 	5	 
		  	5.6	  	Performance-Based Options	  	 	5	 
		  	5.7	  	Vesting	  	 	5	 
		  	5.8	  	ISO Dollar Limitation	  	 	5	 
		  	5.9	  	Exercise Period	  	 	5	 

  
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		  	5.10	  	Award Agreement	  	 	6	 
	 6.
	  	Stock Appreciation Rights	  	 	6	 
		  	6.1	  	Payment in Cash or Shares	  	 	6	 
		  	6.2	  	Maximum SAR Payment	  	 	6	 
		  	6.3	  	Exercise Period	  	 	6	 
		  	6.4	  	Change in Control	  	 	6	 
		  	6.5	  	Dividend Equivalents	  	 	6	 
		  	6.6	  	Award Agreement	  	 	6	 
		  	6.7	  	Tandem Stock Appreciation Rights	  	 	6	 
		  	6.8	  	Exercise Period	  	 	6	 
		  	6.9	  	Freestanding Stock Appreciation Rights	  	 	6	 
	 7.
	  	Restricted Shares	  	 	7	 
		  	7.1	  	Transfer of Shares	  	 	7	 
		  	7.2	  	Consideration	  	 	7	 
		  	7.3	  	Substantial Risk of Forfeiture	  	 	7	 
		  	7.4	  	Dividends, Voting and Other Ownership Rights	  	 	7	 
		  	7.5	  	Restrictions on Transfer	  	 	7	 
		  	7.6	  	Performance-Based Restricted Shares	  	 	7	 
		  	7.7	  	Dividends	  	 	7	 
		  	7.8	  	Award Agreement	  	 	8	 
	 8.
	  	Deferred Shares	  	 	8	 
		  	8.1	  	Deferred Compensation	  	 	8	 
		  	8.2	  	Consideration	  	 	8	 
		  	8.3	  	Deferral Period	  	 	8	 
		  	8.4	  	Dividend Equivalents and Other Ownership Rights	  	 	8	 
		  	8.5	  	Performance Objectives	  	 	8	 
		  	8.6	  	Award Agreement	  	 	8	 
	 9.
	  	Performance Shares and Performance Units	  	 	8	 
		  	9.1	  	Number of Performance Shares or Unit	  	 	8	 
		  	9.2	  	Performance Period	  	 	9	 
		  	9.3	  	Performance Objectives	  	 	9	 
		  	9.4	  	Threshold Performance Objectives	  	 	9	 
		  	9.5	  	Payment of Performance Shares and Units	  	 	9	 
		  	9.6	  	Maximum Payment	  	 	9	 
		  	9.7	  	Dividend Equivalents	  	 	9	 
		  	9.8	  	Adjustment of Performance Objectives	  	 	9	 
		  	9.9	  	Award Agreement	  	 	9	 
	 10.
	  	Transferability	  	 	9	 
		  	10.1	  	Transfer Restrictions	  	 	9	 
		  	10.2	  	Limited Transfer Rights	  	 	10	 
		  	10.3	  	Restrictions on Transfer	  	 	10	 
	 11.
	  	Adjustments	  	 	10	 
	 12.
	  	Fractional Shares	  	 	10	 
	 13.
	  	Withholding Taxes	  	 	10	 
	 14.
	  	Certain Terminations of Employment, Hardship and Approved Leaves of Absence	  	 	11	 
	 15.
	  	Foreign Participants	  	 	11	 
	 16.
	  	Amendments and Other Matters	  	 	11	 
		  	16.1	  	Plan Amendments	  	 	11	 
		  	16.2	  	Award Deferrals	  	 	11	 
		  	16.3	  	Conditional Awards	  	 	11	 
		  	16.4	  	Repricing Prohibited	  	 	12	 
		  	16.5	  	No Employment Right	  	 	12	 
		  	16.6	  	Tax Qualification	  	 	12	 
	 17.
	  	Effective Date	  	 	12	 

  
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	 18.
	  	Termination	  	 	12	 
	 19.
	  	Limitations Period	  	 	12	 
	 20.
	  	Governing Law	  	 	12	 

  
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 RBB BANCORP 

2017 OMNIBUS STOCK INCENTIVE PLAN 

1. Purpose. The purpose of the RBB Bancorp 2017 Omnibus Stock Incentive Plan (the “Plan”) is to strengthen RBB Bancorp (the
“Company”) and those banks and corporations which are or hereafter become subsidiary corporations by providing additional means of attracting and retaining competent managerial personnel and by providing to participating directors,
officers, key employees and consultants of the Company and its subsidiaries added incentive for high levels of performance and for unusual efforts to increase the earnings of the Company and any subsidiaries and allow the opportunity to participate
in the ownership of the Company and thereby have an interest in the success and increased value of the Company. The Plan seeks to accomplish these purposes and achieve these results by providing a means whereby such directors, officers, key
employees and consultants may purchase shares of the Common Stock of the Company or otherwise participate in the increased value of the Company. 
 2.
Definitions. As used in this Plan, the following terms shall be defined as set forth below: 
 2.1 “Award”
means any Option, Stock Appreciation Right, Restricted Shares, Deferred Shares, Performance Shares or Performance Units granted under the Plan. 

2.2 “Award Agreement” means an agreement, certificate, resolution or other form of writing or other evidence approved
by the Board which sets forth the terms and conditions of an Award. 
 2.3 “Base Price” means the price to be used
as the basis for determining the Spread upon the exercise of a Freestanding Stock Appreciation Right. 
 2.4 “Board” means
the Board of Directors of the Company or any Subsidiary. 
 2.5 “Code” means the Internal Revenue Code of 1986, as amended
from time to time. 
 2.6 “Company” means RBB Bancorp, a California corporation, or any successor corporation. 

2.7 “Deferral Period” means the period of time during which Deferred Shares are subject to deferral limitations under
Section 8. 
 2.8 “Deferred Shares” means an Award pursuant to Section 8 of the right to receive Shares at
the end of a specified Deferral Period. 
 2.9 “Employee” means any person, including an officer, employed by the Company
or a Subsidiary. 
 2.10 “Fair Market Value” means the fair market value of the Shares as determined by the
Board from time to time. Unless otherwise determined by the Board, the fair market value of the Common Stock shall be as determined in accordance with any reasonable valuation method selected by the Board, including the valuation methods described
in Treasury Regulation Section 20.2031-2, and in accordance with Generally Accepted Accounting Principles. 

  
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 2.11 “Freestanding Stock Appreciation Right” means a Stock
Appreciation Right granted pursuant to Section 6 that is not granted in tandem with an Option or similar right. 
 2.12
“Grant Date” means the date specified by the Board on which a grant of an Award shall become effective, which shall not be earlier than the date on which the Board takes action with respect thereto. 

2.13 “Incentive Stock Option” means any Option that is intended to qualify as an “incentive stock
option” under Code Section 422 or any successor provision. 
 2.14 “Nonemployee Director” means a member
of the Board who is not an Employee. 
 2.15 “Nonqualified Stock Option” means an Option that is not intended
to qualify as an Incentive Stock Option. 
 2.16 “Option” means any option to purchase Shares granted under Section 5.

 2.17 “Optionee” means the person so designated in an agreement evidencing an outstanding Option. 

2.18 “Option Price” means the purchase price payable upon the exercise of an Option. 

2.19 “Participant” means an Employee, Nonemployee Director or consultant of the Company or any Subsidiary of the Company who
is selected by the Board to receive benefits under this Plan, provided that only Employees shall be eligible to receive grants of Incentive Stock Options. 

2.20 “Performance Objectives” means the performance objectives established pursuant to this Plan for
Participants who have received Awards. Performance Objectives may be described in terms of Company-wide objectives or objectives that are related to the performance of the individual Participant or the division, department or function within the
Company in which the Participant is employed. Performance Objectives may be measured on an absolute or relative basis. Relative performance may be measured by a group of peer companies or by a financial market index. Any Performance Objectives
applicable to a Qualified Performance-Based Award shall be limited to specified levels of or increases in the Company’s return on equity, diluted earnings per share, total earnings, earnings growth, return on capital, return on assets, earnings
before interest and taxes, sales, sales growth, gross margin, return on investment, increase in the fair market value of the Shares, share price (including but not limited to, growth measures and total stockholder return), operating profit, net
earnings, cash flow (including, but not limited to, operating cash flow and free cash flow), cash flow return on investment (which equals net cash flow divided by total capital), financial return ratios, total return to stockholders, market share,
earnings measures/ratios, economic value added (EVA), balance sheet measurements such as loan or deposit growth, internal rate of return, increase in net present value or expense targets, “Employer of Choice” or similar survey results,
client satisfaction surveys and productivity. Except in the case of a Qualified Performance-Based Award, if the Board determines that a change in the business, operations, corporate structure or capital structure of the Company, or the manner in
which it conducts its business, or other events or circumstances render the Performance Objectives unsuitable, the Board may modify such Performance Objectives or the related minimum acceptable level of achievement, in whole or in part, as the Board
deems appropriate and equitable. 

  
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 2.21 “Performance Period” means a period of time established under
Section 9 within which the Performance Objectives relating to a Performance Share, Performance Unit, Deferred Shares or Restricted Shares are to be achieved. 

2.22 “Performance Share” means a bookkeeping entry that records the equivalent of one Share awarded pursuant to
Section 9. 
 2.23 “Performance Unit” means a bookkeeping entry that records a unit equivalent to $1.00
awarded pursuant to Section 9. 
 2.24 “Qualified Performance-Based Award” means an Award or portion of
an Award that is intended to satisfy the requirements for “qualified performance-based compensation” under Code Section 162(m). The Board shall designate any Qualified Performance-Based Award as such at the time of grant. 

2.25 “Restricted Shares” mean Shares granted under Section 7 subject to a substantial risk of forfeiture. 

2.26 “Shares” means shares of the Common Stock of the Company, no par value, or any security into which Shares may be
converted by reason of any transaction or event of the type referred to in Section 11. 
 2.27 “Spread” means, in the
case of a Freestanding Stock Appreciation Right, the amount by which the Fair Market Value on the date when any such right is exercised exceeds the Base Price specified in such right or, in the case of a Tandem Stock Appreciation Right, the amount
by which the Fair Market Value on the date when any such right is exercised exceeds the Option Price specified in the related Option. 

2.28 “Stock Appreciation Right” means a right granted under Section 6, including a Freestanding Stock
Appreciation Right or a Tandem Stock Appreciation Right. 
 2.29 “Subsidiary” means a corporation or other entity in which
the Company has a direct or indirect ownership or other equity interest, provided that for purposes of determining whether any person may be a Participant for purposes of any grant of Incentive Stock Options. “Subsidiary” means any
corporation (within the meaning of the Code) in which the Company owns or controls directly or indirectly more than 50 percent of the total combined voting power represented by all classes of stock issued by such corporation at the time of such
grant. 
 2.30 “Tandem Stock Appreciation Right” means a Stock Appreciation Right granted pursuant to
Section 6 that is granted in tandem with an Option or any similar right granted under any other plan of the Company. 
 3. Shares
Available Under the Plan.
 3.1 Reserved Shares. Subject to adjustment as provided
in Section 11, the maximum number of Shares that may be (i) issued or transferred upon the exercise of Options or Stock Appreciation Rights, (ii) awarded as Restricted Shares and released from substantial risk of forfeiture,
(iii) issued or transferred in payment of Deferred Shares or Performance Shares, or (iv) issued or transferred in payment of dividend equivalents paid with respect to Awards, shall not in the aggregate exceed 3,848,341 shares, which is
equal to 30% of the 

  
 3 

 
outstanding shares of the Company. Such Shares may be Shares of original issuance, Shares held in Treasury, or Shares that have been reacquired by the Company. 

3.2 Reduction Ratio. For purposes of Section 3.1, each Share issued or transferred pursuant to an Award other than a
Stock Option shall reduce the number of Shares available for issuance under the Plan by 1 Share. 
 3.3 ISO Maximum. In
no event shall the number of Shares issued upon the exercise of Incentive Stock Options exceed 3,070,923 subject to adjustment as provided in Section 11. 

3.4 Maximum Calendar Year Award. No Participant may receive Awards representing more than 125,000 Shares in
any one calendar year, subject to adjustment as provided in Section 11. In addition, the maximum number of Performance Units that may be granted to a Participant in any one calendar year is 125,000. 

4. Plan Administration.

4.1 Board Administration. This Plan shall be administered by the Board. The interpretation and construction by the Board
of any provision of this Plan or of any Award Agreement and any determination by the Board pursuant to any provision of this Plan or any such agreement, notification or document, shall be final and conclusive. No member of the Board shall be liable
to any person for any such action taken or determination made in good faith. 
 5. Options. The Board may from time to time authorize grants
to Participants of options to purchase Shares upon such terms and conditions as the Board may determine in accordance with the following provisions: 

5.1 Number of Shares. Each grant shall specify the number of Shares to which it pertains. 

5.2 Option Price. Each grant shall specify an Option Price per Share, which shall be equal to or greater than the Fair Market
Value per Share on the Grant Date. 
 5.3 Consideration. Each grant shall specify the form of consideration to be paid in
satisfaction of the Option Price and the manner of payment of such consideration, which may include (i) cash in the form of currency or check or other cash equivalent acceptable to the Company, (ii) nonforfeitable, unrestricted Shares
owned by the Optionee which have a value at the time of exercise that is equal to the Option Price, (iii) any other legal consideration that the Board may deem appropriate, including without limitation any form of consideration authorized under
Section 5.4, on such basis as the Board may determine in accordance with this Plan, or (iv) any combination of the foregoing. 

5.4 Payment of Option Price in Shares. On or after the Grant Date of any Option other
than an Incentive Stock Option, the Board may determine that payment of the Option Price may also be made in whole or in part in the form of Restricted Shares or other Shares that are subject to risk of forfeiture or restrictions on transfer. Unless
otherwise determined by the Board, whenever any Option Price is paid in whole or in part by means of any of the forms of consideration specified in this Section 5.4, the Shares received by the Optionee upon the exercise of the Options shall be
subject to the same risks of forfeiture or restrictions on transfer as those that applied to the consideration surrendered by the Optionee, provided that such risks 

  
 4 

 
of forfeiture and restrictions on transfer shall apply only to the same number of Shares received by the Optionee as applied to the forfeitable or restricted Shares surrendered by the Optionee.

 5.5 Cashless Exercise. To the extent permitted by applicable law, any grant may provide for deferred payment of the Option
Price from the proceeds of sale through a bank or broker on the date of exercise of some or all of the Shares to which the exercise relates. 

In addition, all or a portion of a stock option may be exercised, with prior written approval of the Board, with Shares of the Company which
when added to the cash payment, if any, has a Fair Market Value equal to the full amount of the exercise price of the Option, or part thereof, then being exercised. If all or part of payment is made in Shares as heretofore provided, such payment
shall be deemed to have been made only upon receipt by the Company of all required share certificates, all stock powers and other required transfer documents necessary to transfer the Shares to the Company. Payment by an Optionee as provided herein
shall be made in full concurrently with the Optionee’s notification to the Company of his intention to exercise all or part of an Option. 

In addition, the Optionee shall have the right upon the exercise of an Option by surrendering for cancellation a portion of an Option to the
Company for the number of shares (the “Surrendered Shares”) specified in the holder’s notice of exercise, by delivery to the Company with such notice written instructions from such holder to apply the Appreciated Value (as defined
below) of the Surrendered Shares to payment of the exercise price for shares subject to the Option that are being acquired upon such exercise. The term “Appreciated Value” for each share subject to the Option shall mean the excess of the
Fair Market Value thereof over the exercise price then in effect. Payment by an Optionee as provided herein shall be made in full concurrently with the Optionee’s notification to the Company of his intention to exercise all or part of the
Option. If all or part of payment is made in Shares of the Company as heretofore provided, such payment shall be deemed to have been made only upon receipt by the Company of all required share certificates, and all stock powers and other required
transfer documents necessary to transfer the Shares of the Company. 
 5.6 Performance-Based Options. Any grant of an Option
may specify Performance Objectives that must be achieved as a condition to exercise of the Option. 
 5.7 Vesting. Each Option
grant may specify a period of continuous employment of the Optionee by the Company or any Subsidiary (or, in the case of a Nonemployee Director, service on the Board) that is necessary before the Options or installments thereof shall become
exercisable, and any grant will provide for the earlier exercise of such rights in the event of a change in control of the Company or other similar transaction or event. 

5.8 ISO Dollar Limitation. Options granted under this Plan may be Incentive Stock Options, Nonqualified Stock
Options or a combination of the foregoing, provided that only Nonqualified Stock Options may be granted to Nonemployee Directors. Each grant shall specify whether (or the extent to which) the Option is an Incentive Stock Option or a Nonqualified
Stock Option. Notwithstanding any such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Options designated as Incentive Stock Options are exercisable for the first time by an Optionee during any
calendar year (under all plans of the Company) exceeds $100,000, such Options shall be treated as Nonqualified Stock Options. 
 5.9
Exercise Period. No Option granted under this Plan may be exercised more than ten years from the Grant Date. 

  
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 5.10 Award Agreement. Each grant shall be evidenced by an Award Agreement
containing such terms and provisions as the Board may determine consistent with this Plan. 
 6. Stock Appreciation Rights. The Board
may also authorize grants to Participants of Stock Appreciation Rights. A Stock Appreciation Right is the right of the Participant to receive from the Company an amount, which shall be determined by the Board and shall be expressed as a percentage
(not exceeding 100 percent) of the Spread at the time of the exercise of such right. Any grant of Stock Appreciation Rights under this Plan shall be upon such terms and conditions as the Board may determine in accordance with the following
provisions: 
 6.1 Payment in Cash or Shares. Any grant may specify that the amount payable upon
the exercise of a Stock Appreciation Right may be paid by the Company in cash, Shares or any combination thereof and may (i) either grant to the Participant or reserve to the Board the right to elect among those alternatives or
(ii) preclude the right of the Participant to receive and the Company to issue Shares or other equity securities in lieu of cash. 

6.2 Maximum SAR Payment. Any grant may specify that the amount payable upon the exercise of a Stock Appreciation
Right shall not exceed a maximum specified by the Board on the Grant Date. 
 6.3 Exercise Period. Any grant may
specify (i) a waiting period or periods before Stock Appreciation Rights shall become exercisable and (ii) permissible dates or periods on or during which Stock Appreciation Rights shall be exercisable. 

6.4 Change in Control. Any grant may specify that a Stock Appreciation Right may be exercised only in the event of a
change in control of the Company or other similar transaction or event. 
 6.5 Dividend Equivalents. On or after the
Grant Date of any Stock Appreciation Rights, the Board may provide for the payment to the Participant of dividend equivalents thereon in cash or Shares on a current, deferred or contingent basis. 

6.6 Award Agreement. Each grant shall be evidenced by an Award Agreement which shall describe the subject Stock
Appreciation Rights, identify any related Options, state that the Stock Appreciation Rights are subject to all of the terms and conditions of this Plan and contain such other terms and provisions as the Board may determine consistent with this Plan.

 6.7 Tandem Stock Appreciation Rights. Each grant of a Tandem Stock Appreciation Right shall provide
that such Tandem Stock Appreciation Right may be exercised only (i) at a time when the related Option (or any similar right granted under any other plan of the Company) is also exercisable and the Spread is positive; and (ii) by surrender
of the related Option (or such other right) for cancellation. 
 6.8 Exercise Period. No Stock Appreciation Right
granted under this Plan may be exercised more than ten years from the Grant Date. 
 6.9 Freestanding Stock
Appreciation Rights. Regarding Freestanding Stock Appreciation Rights only: 

  
 6 

 (i) Each grant shall specify in respect of each Freestanding Stock Appreciation Right a Base
Price per Share, which shall be equal to or greater than the Fair Market Value on the Grant Date; 
 (ii) Successive grants may be made to
the same Participant regardless of whether any Freestanding Stock Appreciation Rights previously granted to such Participant remain unexercised; and 

(iii) Each grant shall specify the period or periods of continuous employment of the Participant by the Company or any Subsidiary that are
necessary before the Freestanding Stock Appreciation Rights or installments thereof shall become exercisable, and any grant may provide for the earlier exercise of such rights in the event of a change in control of the Company or other similar
transaction or event. 
 7. Restricted Shares. The Board may also authorize grants to Participants of Restricted Shares upon such terms and
conditions as the Board may determine in accordance with the following provisions: 
 7.1 Transfer of Shares. Each
grant shall constitute an immediate transfer of the ownership of Shares to the Participant in consideration of the performance of services, subject to the substantial risk of forfeiture and restrictions on transfer hereinafter referred to. 

7.2 Consideration. Each grant may be made without additional consideration from the Participant or in consideration of a payment
by the Participant that is less than the Fair Market Value on the Grant Date. 
 7.3 Substantial Risk of
Forfeiture. Each grant shall provide that the Restricted Shares covered thereby shall be subject to a “substantial risk of forfeiture” within the meaning of Code Section 83 for a period to be determined by the Board on
the Grant Date, and any grant or sale may provide for the earlier termination of such risk of forfeiture in the event of a change in control of the Company or other similar transaction or event. 

7.4 Dividends, Voting and Other Ownership Rights. Unless otherwise determined by the Board, an award
of Restricted Shares shall entitle the Participant to dividend, voting and other ownership rights during the period for which such substantial risk of forfeiture is to continue. 

7.5 Restrictions on Transfer. Each grant shall provide that, during the period for which such substantial risk of
forfeiture is to continue, the transferability of the Restricted Shares shall be prohibited or restricted in the manner and to the extent prescribed by the Board on the Grant Date. Such restrictions may include, without limitation, rights of
repurchase or first refusal in the Company or provisions subjecting the Restricted Shares to a continuing substantial risk of forfeiture in the hands of any transferee. 

7.6 Performance-Based Restricted Shares. Any grant or the vesting thereof may be further conditioned upon the attainment
of Performance Objectives established by the Board in accordance with the applicable provisions of Section 9 regarding Performance Shares and Performance Units. 

7.7 Dividends. Any grant may require that any or all dividends or other distributions paid on the Restricted Shares during the period
of such restrictions be automatically 

  
 7 

 
sequestered and reinvested on an immediate or deferred basis in additional Shares, which may be subject to the same restrictions as the underlying Award or such other restrictions as the Board
may determine. 
 7.8 Award Agreements. Each grant shall be evidenced by an Award Agreement containing such terms and
provisions as the Board may determine consistent with this Plan. Unless otherwise directed by the Board, all certificates representing Restricted Shares, together with a stock power that shall be endorsed in blank by the Participant with respect to
such Shares, shall be held in custody by the Company until all restrictions thereon lapse. 
 8. Deferred Shares. The Board may
authorize grants of Deferred Shares to Participants upon such terms and conditions as the Board may determine in accordance with the following provisions: 

8.1 Deferred Compensation. Each grant shall constitute the agreement by the Company to issue or transfer Shares to the
Participant in the future in consideration of the performance of services, subject to the fulfillment during the Deferral Period of such conditions as the Board may specify. 

8.2 Consideration. Each grant may be made without additional consideration from the Participant or in consideration of a payment by the
Participant that is less than the Fair Market Value on the Grant Date. 
 8.3 Deferral Period. Each grant shall provide that
the Deferred Shares covered thereby shall be subject to a Deferral Period, which shall be fixed by the Board on the Grant Date, and any grant or sale may provide for the earlier termination of such period in the event of a change in control of the
Company or other similar transaction or event. 
 8.4 Dividend Equivalents and Other Ownership
Rights. During the Deferral Period, the Participant shall not have any right to transfer any rights under the subject Award, shall not have any rights of ownership in the Deferred Shares and shall not have any right to vote such
shares, but the Board may on or after the Grant Date authorize the payment of dividend equivalents on such shares in cash or additional Shares on a current, deferred or contingent basis. 

8.5 Performance Objectives. Any grant or the vesting thereof may be further conditioned upon the attainment of Performance
Objectives established by the Board in accordance with the applicable provisions of Section 9 regarding Performance Shares and Performance Units. 

8.6 Award Agreement. Each grant shall be evidenced by an Award Agreement containing such terms and provisions as the Board may
determine consistent with this Plan. 
 9. Performance Shares and Performance Units. The Board may also authorize grants
of Performance Shares and Performance Units, which shall become payable to the Participant upon the achievement of specified Performance Objectives, upon such terms and conditions as the Board may determine in accordance with the following
provisions: 
 9.1 Number of Performance Shares or Units. Each grant shall specify the
number of Performance Shares or Performance Units to which it pertains, which may be subject to adjustment to reflect changes in compensation or other factors. 

  
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 9.2 Performance Period. The Performance Period with respect to each Performance
Share or Performance Unit shall commence on the Grant Date and may be subject to earlier termination in the event of a change in control of the Company or other similar transaction or event. 

9.3 Performance Objectives. Each grant shall specify the Performance Objectives that are to be achieved by the Participant. 

9.4 Threshold Performance Objectives. Each grant may specify in respect of the specified Performance Objectives a
minimum acceptable level of achievement below which no payment will be made and may set forth a formula for determining the amount of any payment to be made if performance is at or above such minimum acceptable level but falls short of the maximum
achievement of the specified Performance Objectives. 
 9.5 Payment of Performance Shares and
Units. Each grant shall specify the time and manner of payment of Performance Shares or Performance Units that shall have been earned, and any grant may specify that any such amount may be paid by the Company in cash, Shares or
any combination thereof and may either grant to the Participant or reserve to the Board the right to elect among those alternatives. 
 9.6
Maximum Payment. Any grant of Performance Shares may specify that the amount issuable with respect thereto may not exceed a maximum specified by the Board on the Grant Date. Any grant of Performance Units may specify that the amount
payable, or the number of Shares issued, with respect thereto may not exceed maximums specified by the Board on the Grant Date. 
 9.7
Dividend Equivalents. Any grant of Performance Shares may provide for the payment to the Participant of dividend equivalents thereon in cash or additional Shares on a current, deferred or contingent basis. 

9.8 Adjustment of Performance Objectives. If provided in the terms of the grant, the Board may adjust Performance
Objectives and the related minimum acceptable level of achievement if, in the sole judgment of the Board, events or transactions have occurred after the Grant Date that are unrelated to the performance of the Participant and result in distortion of
the Performance Objectives or the related minimum acceptable level of achievement. 
 9.9 Award Agreement. Each grant shall be
evidenced by an Award Agreement which shall state that the Performance Shares or Performance Units are subject to all of the terms and conditions of this Plan and such other terms and provisions as the Board may determine consistent with this Plan.

 10. Transferability.
 10.1
Transfer Restrictions. Except as provided in Section 10.2, no Award granted under this Plan shall be transferable by a Participant other than by will or the laws of descent and distribution, and Options and Stock
Appreciation Rights shall be exercisable during a Participant’s lifetime only by the Participant or, in the event of the Participant’s legal incapacity, by his guardian or legal representative acting in a fiduciary capacity on behalf of
the Participant under state law. Any attempt to transfer an Award in violation of this Plan shall render such Award null and void. 

  
 9 

 10.2 Limited Transfer Rights. The Board may expressly provide in an
Award agreement (or an amendment to an Award agreement) that a Participant may transfer such Award (other than an Incentive Stock Option), in whole or in part, to a spouse or lineal descendant (a “Family Member”), a trust for the exclusive
benefit of Family Members, a partnership or other entity in which all the beneficial owners are Family Members, or any other entity affiliated with the Participant that may be approved by the Board. Subsequent transfers of Awards shall be prohibited
except in accordance with this Section 10.2. All terms and conditions of the Award, including provisions relating to the termination of the Participant’s employment or service with the Company or a Subsidiary, shall continue to apply
following a transfer made in accordance with this Section 10.2. 
 10.3 Restrictions on Transfer. Any Award made
under this Plan may provide that all or any part of the Shares that are (i) to be issued or transferred by the Company upon the exercise of Options or Stock Appreciation Rights, upon the termination of the Deferral Period applicable to Deferred
Shares or upon payment under any grant of Performance Shares or Performance Units, or (ii) no longer subject to the substantial risk of forfeiture and restrictions on transfer referred to in Section 7, shall be subject to further
restrictions upon transfer. 
 11. Adjustments. The Board may make or provide for such adjustments in the (a) number of Shares covered by
outstanding Options, Stock Appreciation Rights, Deferred Shares, Restricted Shares and Performance Shares granted hereunder, (b) prices per share applicable to such Options and Stock Appreciation Rights, and (c) kind of shares covered
thereby (including shares of another issuer), as the Board in its sole discretion may in good faith determine to be equitably required in order to prevent dilution or enlargement of the rights of Participants that otherwise would result from
(x) any stock dividend, stock split, combination or exchange of Shares, recapitalization or other change in the capital structure of the Company, (y) any merger, consolidation, spin-off, spin-out, split-off, split-up, reorganization, partial or complete liquidation or other distribution of assets (other than a normal
cash dividend), issuance of rights or warrants to purchase securities or (z) any other corporate transaction or event having an effect similar to any of the foregoing. Moreover, in the event of any such transaction or event, the Board may
provide in substitution for any or all outstanding Awards under this Plan such alternative consideration as it may in good faith determine to be equitable under the circumstances and may require in connection therewith the surrender of all Awards so
replaced. The Board may also make or provide for such adjustments in each of the limitations specified in Section 3 as the Board in its sole discretion may in good faith determine to be appropriate in order to reflect any transaction or event
described in this Section 11. 
 12. Fractional Shares. The Company shall not be required to issue any fractional Shares pursuant to this
Plan. The Board may provide for the elimination of fractions or for the settlement thereof in cash. 
 13. Withholding Taxes. To the extent
that the Company is required to withhold federal, state, local or foreign taxes in connection with any payment made or benefit realized by a Participant or other person under this Plan, it shall be a condition to the receipt of such payment or the
realization of such benefit that the Participant or such other person make arrangements satisfactory to the Company for payment of all such taxes required to be withheld. At the discretion of the Board, such arrangements may include relinquishment
of a portion of such benefit. 

  
 10 

 14. Certain Terminations of Employment, Hardship and Approved
Leaves of Absence. Notwithstanding any other provision of this Plan to the contrary, in the event of termination of employment by reason of death, disability, normal retirement, early retirement with the consent of the
Company or leave of absence approved by the Company, or in the event of hardship or other special circumstances, of a Participant who holds an Option or Stock Appreciation Right that is not immediately and fully exercisable, any Restricted Shares as
to which the substantial risk of forfeiture or the prohibition or restriction on transfer has not lapsed, any Deferred Shares as to which the Deferral Period is not complete, any Performance Shares or Performance Units that have not been fully
earned, or any Shares that are subject to any transfer restriction pursuant to Section 10.3, the Board may in its sole discretion take any action that it deems to be equitable under the circumstances or in the best interests of the Company,
including, without limitation, waiving or modifying any limitation or requirement with respect to any Award under this Plan. 
 15. Foreign
Participants. In order to facilitate the making of any grant or combination of grants under this Plan, the Board may provide for such special terms for Awards to Participants who are foreign nationals, or who are employed by or perform
services for the Company or any Subsidiary outside of the United States of America, as the Board may consider necessary or appropriate to accommodate differences in local law, tax policy or custom. Moreover, the Board may approve such supplements
to, or amendments, restatements or alternative versions of, this Plan as it may consider necessary or appropriate for such purposes without thereby affecting the terms of this Plan as in effect for any other purpose, provided that no such
supplements, amendments, restatements or alternative versions shall include any provisions that are inconsistent with the terms of this Plan, as then in effect, unless this Plan could have been amended to eliminate such inconsistency without further
approval by the stockholders of the Company. 
 16. Amendments and Other Matters.

16.1 Plan Amendments. This Plan may be amended from time to time by the Board, but no such amendment shall increase any
of the limitations specified in Section 3, other than to reflect an adjustment made in accordance with Section 11, without the further approval of the stockholders of the Company. The Board may condition any amendment on the approval of
the stockholders of the Company if such approval is necessary or deemed advisable with respect to the applicable listing or other requirements of a national securities exchange or other applicable laws, policies or regulations. 

16.2 Award Deferrals. The Board may permit Participants to elect to defer the issuance of Shares or the settlement of
Awards in cash under the Plan pursuant to such rules, procedures or programs as it may establish for purposes of this Plan. In the case of an award of Restricted Shares, the deferral may be effected by the Participant’s agreement to forego or
exchange his or her award of Restricted Shares and receive an award of Deferred Shares. The Board also may provide that deferred settlements include the payment or crediting of interest on the deferral amounts, or the payment or crediting of
dividend equivalents where the deferral amounts are denominated in Shares. 
 16.3 Conditional Awards. The Board may
condition the grant of any award or combination of Awards under the Plan on the surrender or deferral by the Participant of his or her right to receive a cash bonus or other compensation otherwise payable by the Company or any Subsidiary to the
Participant. 

  
 11 

 16.4 Repricing Prohibited. The Board shall not reprice any outstanding Option,
directly or indirectly, without the approval of the stockholders of the Company, provided that nothing herein shall prevent the Board from taking any action provided for in Section 11. 

16.5 No Employment Right. This Plan shall not confer upon any Participant any right with respect to continuance of
employment or other service with the Company or any Subsidiary and shall not interfere in any way with any right that the Company or any Subsidiary would otherwise have to terminate any Participant’s employment or other service at any time.

 16.6 Tax Qualification. To the extent that any provision of this Plan would prevent any Option that was intended to qualify
under particular provisions of the Code from so qualifying, such provision of this Plan shall be null and void with respect to such Option, provided that such provision shall remain in effect with respect to other Options, and there shall be no
further effect on any provision of this Plan. 
 17. Effective Date. This Plan shall become effective following its approval by the
stockholders of the Company. 
 18. Termination. This Plan shall terminate on the tenth anniversary of the date upon which it is approved by
the stockholders of the Company, and no Award shall be granted after that date. 
 19. Limitations Period. Any person who believes he or she
is being denied any benefit or right under the Plan may file a written claim with the Board. Any claim must be delivered to the Board within forty-five (45) days of the specific event giving rise to the claim. Untimely claims will not be
processed and shall be deemed denied. The Board, or its designated agent, will notify the Participant of its decision in writing as soon as administratively practicable. Claims not responded to by the Board in writing within ninety (90) days of
the date the written claim is delivered to the Board shall be deemed denied. The Board’s decision is final and conclusive and binding on all persons. No lawsuit relating to the Plan may be filed before a written claim is filed with the Board
and is denied or deemed denied and any lawsuit must be filed within one year of such denial or deemed denial or be forever barred. 
 20. Governing
Law. The validity, construction and effect of this Plan and any Award hereunder will be determined in accordance with California law. 

  
 12 

 SECRETARY’S CERTIFICATE OF ADOPTION 

I, the undersigned, do hereby certify: 

1. That I am the duly elected and acting Secretary of RBB Bancorp; and 

2. That the foregoing RBB Bancorp 2017 Omnibus Stock Incentive Plan was duly adopted by the Board of Directors of RBB Bancorp as the Omnibus
Stock Incentive Plan for the Company at a meeting duly called as required by law and convened on the 18th day of January, 2017, subject to approval by the Company’s stockholders, and subject to any necessary amendment or approval from any of
the Company’s regulatory agencies. 
 IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the seal of the Company this
18th day of January, 2017. 
  

	
	  

	Pei-Chin (Peggy) Huang, Secretary

  
 13EX-10.7

 Exhibit 10.7 

RBB Bancorp 
 2017
Omnibus Stock Incentive Plan 
 Option Award Agreement 
  

					
	Participant:	 	  
	  	
			
	Date of Grant:	 	  
	  	
			
	Number of Shares Covered by this Option:	 	  
	  	
			
	Number of above Shares intended to be Incentive Stock Options (“ISOs”) within the meaning of Internal Revenue Code § 422:	 	  
	  	
			
	Number of above shares intended to be Nonqualified Stock Options (“NQSOs”):	 	  
	  	
			
	Option Price for each Share:	 	  
	  	
			
	Date of Expiration:	 	  
	  	

 THIS AGREEMENT, effective as of the Date of Grant set forth above, represents the grant of stock options by
RBB Bancorp, a California corporation (the “Company”) to the Participant named above, pursuant to the provisions of the RBB Bancorp 2017 Omnibus Stock Incentive Plan (“Plan”). 

All capitalized terms used herein shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein. 

The Plan provides a complete description of the terms and conditions governing the Option. If there is any inconsistency between the terms of
this Agreement and the terms of the Plan, the Plan’s terms shall completely supersede and replace the conflicting terms of this Agreement. The parties hereto agree as follows: 

1.    Grant of Stock Options. The Company hereby grants to the Participant an Option to purchase the number of Shares set forth
above, at the stated Option Price, which is 100 percent (100%) of the Fair Market Value of a Share on the Date of Grant, in the manner and subject to the terms and conditions of the Plan and this Agreement. 

2.    Exercise of Stock Option. Except as hereinafter provided, the Participant may exercise this Option at any time after the end
of one year following the Date of Grant as to those Shares which have become vested according to the vesting schedule set forth below, provided that no exercise may occur subsequent to the close of business on the Date of Expiration (as defined on
page 1 of this Agreement). 

  
 1 

 VESTING SCHEDULE 
  

					
	Date	  	Shares for Which Option
Becomes Exercisable	  	Cumulative Number of
Shares Available for Purchase
	
                   
 
	  	                	  	                
	
                   
 
	  	                	  	                
	
                   
 
	  	                	  	                

 This Option may be exercised in whole or in part, but not for less than 100 Shares at any one time, unless
fewer than 100 Shares then remain subject to the Option, and the Option is then being exercised as to all such remaining Shares. 

3.    Termination of Employment: 
  

	(a)	By death or Disability: In the event of termination of employment by reason of death or disability, all Shares under this Option shall become immediately vested (100%) and the Shares may be purchased under the
terms of this Agreement until the earlier of: (i) the expiration date of this Option; or (ii) the first anniversary of the date of death or Disability. 

  

	(b)	By Retirement: Except as otherwise approved by the Board, in the event of termination of employment by reason of retirement, all vested Shares under this Option may be purchased under the terms of this Agreement
until the earlier of: (i) the expiration date of this Option; or (ii) the third anniversary date of Retirement. 

  

	(c)	For Cause: In the event of termination of employment for cause, all Shares under this Option shall automatically expire and terminate in their entirety immediately upon such termination; provided, however, that
the Board may, in its sole discretion, within thirty (30) days of such termination, reinstate this Option by giving written notice of such reinstatement to the Participant. In the event of such reinstatement, the Participant may exercise the
Option only to such extent, for such time, and upon such terms and conditions as in the case of a Participant whose status as a Participant had been terminated for a reason other than cause, disability or death. Termination for cause shall include,
but not be limited to, termination for malfeasance or gross misfeasance in the performance of duties or conviction of illegal activity in connection therewith, and, in any event, the determination of the Board with respect thereto shall be final and
conclusive. 

  

	(d)	For other reasons: Shares which are vested as of the date of termination of employment of the Participant for any reason other than those reasons set forth in 3(a), 3(b) or 3(c) above may be purchased under the
terms of this Agreement until the earlier of: (i) the expiration date of this Option; or (ii) 90 days following the date of termination of employment. Shares which are not vested as of the date of termination shall immediately terminate, and
shall be forfeited to the Company. 

 4.    Change in Control. In the event of a Change in Control, all Shares
under this Option shall become immediately vested (100%) and shall remain exercisable for their entire term. 
 “Change in
Control” of the Company shall be deemed to have occurred (as of a particular day, as specified by the Board) upon the occurrence of any of the following events: 
  

	(a)	The acquisition in a transaction or series of transactions by any Person of Beneficial Ownership of thirty percent (30%) or more of the combined voting power of the then outstanding shares of common stock of the
Company; provided, however, that for purposes of this Agreement, the following acquisitions will not constitute a Change in Control: (A) any acquisition by the Company; (B) any acquisition of common stock of the Company by an underwriter
holding securities of the Company in connection with a public offering thereof; and (C) any acquisition by any Person pursuant to a transaction which complies with subsections (c) (i), (ii) and (iii), below; 

  
 2 

	(b)	Individuals who, as of             , 20     [same date as this Agreement] are members of the Board (the “Incumbent Board”), cease
for any reason to constitute at least a majority of the members of the Board; provided, however, that if the election, or nomination for election by the Company’s common shareholders, of any new director was approved by a vote of at least two-thirds of the Incumbent Board, such new director shall, for purposes of this Plan, be considered as a member of the Incumbent Board; provided further, however, that no individual shall be considered a member of
the Incumbent Board if such individual initially assumed office as a result of either an actual or threatened “Election Contest” (as described in Rule 14a-11 promulgated under the Exchange Act) or
other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest;

  

	(c)	Consummation, following shareholder approval, of a reorganization, merger, or consolidation of the Company and/or its subsidiaries, or a sale or other disposition (whether by sale, taxable or non-taxable exchange, formation of a joint venture or otherwise) of fifty percent (50%) or more of the assets of the Company and/or its subsidiaries (each a “Business Combination”), unless, in each case,
immediately following such Business Combination, (i) all or substantially all of the individuals and entities who were beneficial owners of shares of the common stock of the Company immediately prior to such Business Combination beneficially
own, directly or indirectly, more than fifty percent (50%) of the combined voting power of the then outstanding shares of the entity resulting from the Business Combination or any direct or indirect parent corporation thereof (including, without
limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one (1) or more subsidiaries)(the “Successor Entity”); (ii) no Person
(excluding any Successor entity or any employee benefit plan or related trust, of the Company or such Successor Entity) owns, directly or indirectly, thirty percent (30%) or more of the combined voting power of the then outstanding shares of common
stock of the Successor Entity, except to the extent that such ownership existed prior to such Business Combination; and (iii) at least a majority of the members of the Board of Directors of the entity resulting from such Business Combination or
any direct or indirect parent corporation thereof were members of the Incumbent Board at the time of the execution of the initial agreement or action of the Board providing for such Business Combination; or 

 

	(d)	Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company, except pursuant to a Business Combination that complies with subsections (c) (i), (ii), and (iii) above.

  

	(e)	A Change in Control shall not be deemed to occur solely because any Person (the “Subject Person”) acquired Beneficial Ownership of more than the permitted amount of the then outstanding Common Stock as a
result of the acquisition of Common Stock by the Company which, by reducing the number of shares of Common Stock then outstanding, increases the proportional number of shares Beneficially Owned by the Subject Persons, provided that if a Change in
Control would occur (but for the operation of this sentence) as a result of the acquisition of Common Stock by the Company, and after such stock acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional Common
Stock which increases the percentage of the then outstanding Common Stock Beneficially Owned by the Subject Person, then a Change in Control shall occur. 

  

	(f)	A Change in Control shall not be deemed to occur unless and until all regulatory approvals required in order to effectuate a Change in Control of the Company have been obtained and the transaction constituting the
Change in Control has been consummated. 

 5.    Restrictions on Transfer. This Option may not be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, this Option shall be exercisable during the Participant’s lifetime only by the Participant or the
Participant’s legal representative. 

  
 3 

 6.    Recapitalization. In the event there is any change in the Company’s Shares
through the declaration of stock dividends or through recapitalization resulting in stock splits or through merger, consolidation, exchange of Shares, or otherwise, the number and class of Shares subject to this Option, as well as the Option Price,
may be equitably adjusted by the Board, in its sole discretion, to prevent dilution or enlargement of rights. 
 7.    Procedure for
Exercise of Option. This Option may be exercised by delivery of written notice to the Company at its executive offices, addressed to the attention of its Secretary. Such notice: (a) shall be signed by the Participant or his or her legal
representative; (b) shall specify the number of full Shares then elected to be purchased with respect to the Option; (c) unless a Registration Statement under the Securities Act of 1933 is in effect with respect to the Shares to be
purchased, shall contain a representation of the Participant that the Shares are being acquired by him or her for investment and with no present intention of selling or transferring them, and that he or she will not sell or otherwise transfer the
Shares except in compliance with all applicable securities laws and requirements of any stock exchange upon which the Shares may then be listed; and (d) shall be accompanied by payment in full of the Option Price of the Shares to be purchased,
and the Participant’s copy of this Agreement. 
 The Option Price upon exercise of this Option shall be payable to the Company in full
either: (a) in cash or its equivalent (acceptable cash equivalents shall be determined at the sole discretion of the Board); or (b) by tendering previously acquired Shares having an aggregate Fair Market Value at the time of exercise equal
to the total Option Price (provided that the Shares which are tendered must have been held by the Participant for at least six (6) months prior to their tender to satisfy the Option Price); (c) by cancelling a portion of an option as provided
in the Plan; or (d), by a combination of (a), (b) or (c). 
 The Participant may also be permitted to exercise pursuant to a “cashless
exercise” procedure as permitted under the Federal Reserve Board’s Regulation T, subject to securities law restrictions. 
 As
promptly as practicable after receipt of notice and payment upon exercise, the Company shall cause to be issued and delivered to the Participant or his or her legal representative, as the case may be, certificates for the Shares so purchased, which
may, if appropriate, be endorsed with appropriate restrictive legends. The Share certificates shall be issued in the Participant’s name (or, at the discretion of the Participant, jointly in the names of the Participant and the
Participant’s spouse). The Company shall maintain a record of all information pertaining to the Participant’s rights under this Agreement, including the number of Shares for which their Option is exercisable. If the Option shall have been
exercised in full, this Agreement shall be returned to the Company and canceled. 
 8.    Beneficiary Designation. The
Participant may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under this Agreement is to be paid in case of his or her death before he or she receives any or all of such
benefit. Each such designation shall revoke all prior designations by the Participant, shall be in a form prescribed by the Company, and will be effective only when filed by the Participant in writing with the Secretary of the Company during the
Participant’s lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate. 

9.    Rights as a Shareholder. The Participant shall have no rights as a shareholder of the Company with respect to the Shares
subject to this Option Agreement including, without limitation, any right to dividends, until such time as the purchase price has been paid, and the Shares have been issued and delivered to him or her. 

10.    Continuation of Employment. This Option Agreement shall not confer upon the Participant any right to continuation of
employment by the Company, nor shall this Option Agreement interfere in any way with the Company’s right to terminate the Participant’s employment at any time. A transfer of the Participant’s employment between the Company and any one
of its Subsidiaries (or between Subsidiaries) shall not be deemed a termination of employment. 
 11.    Limitation. Participant
shall not exercise any shares which are intended to be ISOs hereunder if and to the extent that the Participant would thereby be entitled to purchase Shares in any one calendar year, the value of which, determined at the time of the Date of Grant,
would exceed $100,000. 

  
 4 

 12.    Miscellaneous. 

 

	(a)	This Option Agreement and the rights of the Participant hereunder are subject to all the terms and conditions of the Plan, as the same may be amended from time to time, as well as to such rules and regulations as the
Board may adopt for administration of the Plan. The Board shall have the right to impose such restrictions on any Shares acquired pursuant to the exercise of this Option, as it may deem advisable, including, without limitation, restrictions under
applicable Federal securities laws, under the requirements of any stock exchange or market upon which such Shares are then listed and/or traded, and under any blue sky or state securities laws applicable to such Shares. It is expressly understood
that the Board is authorized to administer, construe, and make all determinations necessary or appropriate to the administration of the Plan and this Option Agreement, all of which shall be binding upon the Participant. 

 

	(b)	The Board may terminate, amend, or modify the Plan; provided, however, that no such termination, amendment, or modification of the Plan may in any material way adversely affect the Participant’s rights under this
Agreement, without the written consent of the Participant. 

  

	(c)	The Company shall have the power and the right to deduct or withhold, or require the Participant to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes (including Participant’s
FICA obligation) required by law to be withheld with respect to any exercise of the Participant’s rights under this Agreement. 

The Participant may elect, subject to any procedural rules adopted by the Board, to satisfy the withholding requirement, in whole or in part,
by having the Company withhold Shares having an aggregate Fair Market Value on the date the tax is to be determined, equal to the amount required to be withheld. 
  

	(d)	The Participant agrees to take all steps necessary to comply with all applicable provisions of federal and state securities law in exercising his or her rights under this Agreement. 

 

	(e)	This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

 

	(f)	All obligations of the Company under the Plan and this Agreement, with respect to this Option, shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or
indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 

  

	(g)	To the extent not preempted by federal law, this Agreement shall be governed by, and construed in accordance with, the laws of the California. 

The following parties have caused this Agreement to be executed as of the Date of Grant. 

 

									
	RBB BANCORP	 		 		 	
					
	By:	 	                                     
                       	 		 		 	  

		 	Chairman of the Board	 		 		 	Secretary
				
	  
 Participant
	 		 		 	

  
 5

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