Document:

Employment Agreement by and between Robert J. Dzielak and Expedia

 EXHIBIT 10.30 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT
(“Agreement”) is entered into by and between Robert Dzielak (“Executive”) and Expedia, Inc., a Delaware corporation (the “Company”), and is effective as of May 9, 2012 (the “Effective Date”). 

WHEREAS, the Company desires to establish its right to the services of Executive, in the capacity described below, on the terms and
conditions hereinafter set forth, and Executive is willing to accept such employment on such terms and conditions. 
 NOW,
THEREFORE, in consideration of the mutual agreements hereinafter set forth, Executive and the Company have agreed and do hereby agree as follows: 
 1.A. EMPLOYMENT. The Company agrees to employ Executive as Executive Vice President, General Counsel and Secretary of the Company; Executive accepts and agrees to such employment. During
Executive’s employment with the Company, Executive shall perform all services and acts necessary or advisable to fulfill the duties and responsibilities as are commensurate and consistent with Executive’s position and shall render such
services on the terms set forth herein. During Executive’s employment with the Company, Executive shall report directly to the Chief Executive Officer of the Company or such person(s) as from time to time may be designated by the Company
(hereinafter referred to as the “Reporting Officer”). Executive shall have such powers and duties with respect to the Company as may reasonably be assigned to Executive by the Reporting Officer, to the extent consistent with
Executive’s position and status. Executive agrees to devote all of Executive’s working time, attention and efforts to the Company and to perform the duties of Executive’s position in accordance with the Company’s policies as in
effect from time to time. Executive’s principal place of employment shall be the Company’s offices located in Bellevue, Washington. 

2.A. TERM OF AGREEMENT. The term (“Term”) of this Agreement shall commence on the Effective Date and shall continue through the third
anniversary of the Effective Date, unless sooner terminated in accordance with the provisions of Section 1 of the Standard Terms and Conditions attached hereto. 
  

	3.A.	COMPENSATION. 

 (a)
BASE SALARY. For the period from April 10, 2012 through the Term, the Company shall pay Executive an annualized base salary of $375,000.00 (the “Base Salary”), payable in equal biweekly installments or in accordance with the
Company’s payroll practice as in effect from time to time. For all purposes under this Agreement, the term “Base Salary” shall refer to Base Salary as in effect from time to time. Not later than the first anniversary of the Effective
Date, the Base Salary shall be subject to review and increase at the discretion of the Company’s Chief Executive Officer. 

 (b) DISCRETIONARY BONUS. For the period from September 1, 2011 though the Term,
Executive shall be eligible to receive discretionary annual bonuses with an annual target bonus equal to 70% of Base Salary, with amounts, if any, for any partial year payable on a pro rata basis (based on the number of days of employment
during any such partial year relative to 365 days). Any such annual bonus shall be paid not later than March 15 of the calendar year immediately following the calendar year with respect to which such annual bonus relates (unless Executive has
elected to defer receipt of such bonus pursuant to an arrangement that meets the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)). Not later than the first anniversary of the Effective Date,
the annual bonus target percentage shall be subject to review and increase at the discretion of the Company’s Chief Executive Officer. 
 (c) BENEFITS. 
 (i) Retirement and Welfare Plans. During the
Term, from the Effective Date through the date of termination of Executive’s employment with the Company for any reason, Executive shall be entitled to participate in any welfare, health and life insurance and pension benefit plans as may be
adopted from time to time by the Company on the same basis as that provided to similarly situated executives of the Company generally, consistent with the terms of such plans. 

(ii) Reimbursement for Business Expenses. During the Term, the Company shall reimburse Executive for all reasonable
and necessary expenses incurred by Executive in performing Executive’s duties for the Company, on the same basis as similarly situated executives of the Company generally and in accordance with the Company’s policies as in effect from time
to time. 
 (iii) Vacation. During the Term, Executive shall be entitled to annual paid vacation in
accordance with the plans, policies, programs and practices of the Company applicable to similarly situated executives of the Company generally. 
 4.A. NOTICES. All notices and other communications under this Agreement shall be in writing and shall be given by first-class mail, certified or registered with return receipt requested or hand
delivery acknowledged in writing by the recipient personally, and shall be deemed to have been duly given three days after mailing or immediately upon duly acknowledged hand delivery to the respective persons named below: 

 

			
	If to the Company:	  	Expedia, Inc.
		  	333 108th Avenue NE
		  	Bellevue, Washington 98004
		  	Attention: General Counsel
		
	If to Executive:	  	At the most recent address on record for Executive at the Company

 Either party may change such party’s address for notices by notice duly given pursuant hereto. 

  
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 5.A. GOVERNING LAW; JURISDICTION. This Agreement and the legal relations thus created between the
parties hereto shall be governed by and construed under and in accordance with the internal laws of the State of Washington without reference to the principles of conflicts of laws. Any and all disputes between the parties which may arise pursuant
to this Agreement will be heard and determined before an appropriate federal court in Washington, or, if not maintainable therein, then in an appropriate Washington state court. The parties acknowledge that such courts have jurisdiction to interpret
and enforce the provisions of this Agreement, and the parties consent to, and waive any and all objections that they may have as to, personal jurisdiction and/or venue in such courts. 
 6.A COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.
Executive expressly understands and acknowledges that the Standard Terms and Conditions attached hereto are incorporated herein by reference, deemed a part of this Agreement and are binding and enforceable provisions of this Agreement. References to
“this Agreement” or the use of the term “hereof” shall refer to this Agreement and the Standard Terms and Conditions attached hereto, taken as a whole. 
 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed and delivered by its duly authorized officer and Executive has executed and delivered this Agreement. 

 

	
	EXPEDIA, INC.
	
	 /s/ Connie L. Symes

	By: Connie L. Symes
	Title: EVP, HR
	
	 /s/ Robert Dzielak

	 Robert Dzielak

  
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 STANDARD TERMS AND CONDITIONS 

 

	1.	TERMINATION OF EXECUTIVE’S EMPLOYMENT. 

 (a) DEATH. Upon termination of Executive’s employment prior to the expiration of the Term by reason of Executive’s death, the Company shall pay Executive’s designated beneficiary or
beneficiaries, within 30 days of Executive’s death in a lump sum in cash, (i) Executive’s Base Salary from the date of Executive’s death through the end of the month in which Executive’s death occurs and (ii) any
Accrued Obligations (as defined in Section 1(f) below). 
 (b) DISABILITY. If, as a result of Executive’s
disability (as provided under Section 409A(a)(2)(C) of the Internal Revenue Code of 1986, as amended (the “Code”) and Treasury regulation section 1.409A-3(i)(4) and other official guidance issued thereunder) (“Disability”),
Executive shall have been absent from the full-time performance of Executive’s duties with the Company for a period of four consecutive months and, within 30 days after written notice is provided to Executive by the Company (in accordance with
Section 4A hereof), Executive shall not have returned to the full-time performance of Executive’s duties, Executive’s employment under this Agreement may be terminated by the Company for Disability. During any period prior to such
termination during which Executive is absent from the full-time performance of Executive’s duties with the Company due to Disability, the Company shall continue to pay Executive’s Base Salary at the rate in effect at the commencement of
such period of Disability, offset by any amounts payable to Executive under any disability insurance plan or policy provided by the Company. Upon termination of Executive’s employment due to Disability, the Company shall pay Executive within 30
days of such termination (i) Executive’s Base Salary through the end of the month in which Executive’s termination of employment for Disability occurs in equal biweekly installments in accordance with the Company’s payroll
practice as in effect from time to time, offset by any amounts payable to Executive under any disability insurance plan or policy provided by the Company; and (ii) any Accrued Obligations. 

(c) TERMINATION FOR CAUSE; RESIGNATION WITHOUT GOOD REASON. The Company may terminate Executive’s employment under this
Agreement with or without Cause at any time and Executive may resign under this Agreement with or without Good Reason at any time. As used herein, “Cause” shall mean: (i) the plea of guilty or nolo contendere to, conviction for, or
the commission of, a felony offense by Executive; provided, however, that after indictment, the Company may suspend Executive from the rendition of services, but without limiting or modifying in any other way the Company’s
obligations under this Agreement; (ii) a material breach by Executive of a fiduciary duty owed to the Company or any of its subsidiaries; (iii) a material breach by Executive of any of the covenants made by Executive in Section 2
hereof; (iv) the willful or gross neglect by Executive of the material duties required by this Agreement; or (v) a knowing and material violation by Executive of any Company policy pertaining to ethics, legal compliance, wrongdoing or
conflicts of interest that, in the case of the conduct described in clauses (iv) or (v) above, if curable, is not cured by Executive within 30 days after Executive is provided with written notice thereof. Upon Executive’s
(A) termination of employment by the Company for Cause prior to the expiration of the Term or (B) resignation without Good Reason prior to the expiration of the Term, this Agreement shall terminate without further obligation by the
Company, except for the payment of any Accrued Obligations. 

 (d) TERMINATION BY THE COMPANY OTHER THAN FOR DEATH, DISABILITY OR CAUSE OR RESIGNATION
BY EXECUTIVE FOR GOOD REASON. Upon termination of Executive’s employment prior to the expiration of the Term by the Company other than for Cause, death or Disability or by Executive for Good Reason (as defined below), then: 

(i) the Company shall continue to pay Executive his Base Salary through the longer of (x) one year or
(y) through the end of the Term, payable over the course of such period (such period, the “Severance Period”) in equal biweekly installments; 
 (ii) the Company shall pay Executive in a lump sum (without regard to whether Executive actually elects COBRA coverage) an amount equal to 12 months of monthly premiums with respect to COBRA
continuation coverage under the Company’s group health plans in existence on the date of termination, and at the level of coverage Executive participated in, as of the date of termination; 

(iii) the Company shall pay or otherwise provide Executive within 30 days of the date of such termination any Accrued
Obligations; 
 (iv) the Company will consider in good faith the payment of a discretionary bonus on a pro
rata basis for the year in which the Termination of Employment occurs, any such payment to be paid (if at all) based on actual performance during the year in which termination has occurred and based on the number of days of employment during
such year relative to 365 days (payable in a lump sum at the time such annual bonus would otherwise have been paid); 
 (v) any compensation awards of Executive based on, or in the form of, Company equity (e.g. restricted stock, restricted stock units, stock options or similar instruments) (“Equity Awards”) that
are outstanding and unvested at the time of such termination but which would, but for a termination of employment, have vested during the 12 months following such termination (such period, the “Equity Acceleration Period”) shall vest (and
with respect to awards other than stock options and stock appreciation rights, settle) as of the date of such termination of employment; provided that any outstanding award with a vesting schedule that would, but for a termination of
employment, have resulted in a smaller percentage (or none) of the award being vested through the end of such Equity Acceleration Period than if it vested annually pro rata over its vesting period shall, for purposes of this provision, be treated as
though it vested annually pro rata over its vesting period (e.g., if 100 restricted stock units (“RSUs”) were granted 2.7 years prior to the date of the termination and vested pro rata on each of the first five anniversaries of the grant
date and 100 RSUs were granted 1.7 years prior to the date of termination and vested on the fifth anniversary of the grant date, then on the date of termination 20 RSUs from the first award and 40 RSUs from the second award would vest and settle);
provided further that any amount that would vest under this provision but 

  
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for the fact that outstanding performance conditions have not been satisfied shall vest (and with respect to awards other than stock options and stock appreciation rights, settle) only if, and at
such point as, such performance conditions are satisfied; and provided further that if any Equity Awards made subsequent to the Effective Date of this Agreement specifies a more favorable post-termination vesting schedule for such
equity, the terms of the award agreement for such Equity Award shall govern; and 
 (vi) any then vested options
of Executive (including options vesting as a result of (v) above) to purchase Company equity, shall remain exercisable through the date that is 18 months following the date of such termination or, if earlier, through the original scheduled
expiration date of such options. 
 The expiration of this Agreement shall not give rise to any payment or acceleration
obligation under this Agreement. 
 The payment to Executive of the severance pay and benefits described in Sections
1(d)(i), (ii), (iv), (v) and (vi) (the “Severance Payments & Benefits”) above is contingent upon (i) Executive’s compliance with the offset provisions in Section 1(e) below, (ii) Executive’s
compliance with the restrictive covenants set forth in Section 2, and (iii) Executive signing and not revoking a separation agreement and release of claims in favor of the Company and its affiliates in a form that is satisfactory to the
Company upon Executive’s termination of employment that becomes effective no later than sixty (60) days following Executive’s employment termination date or such earlier date required by the release agreement (such deadline, the
“Release Deadline”). If the release does not become effective and irrevocable by the Release Deadline, Executive will forfeit any rights to severance. In no event will severance payments or benefits be paid or provided until the release
actually becomes effective and irrevocable. Upon the release becoming effective and irrevocable, any payments delayed from the date Executive terminates employment through the effective date of the release will be payable in a lump sum without
interest as soon as administratively practicable after the Release Deadline and all other amounts will be payable in accordance with the payment schedule applicable to each payment or benefit. Any Severance Payments & Benefits that would be
considered Deferred Payments (as defined below) will be paid on or, in the case of installments, will not commence until the sixtieth (60th) day following Executive’s separation from service or, if later, the Delayed Initial Payment Date (as
defined below). Any installment payment that would have been made to Executive during the sixty (60)-day period immediately following Executive’s separation from service, but for the preceding sentence, will be paid to Executive on the sixtieth
(60th) day following Executive’s separation from
service and the remaining payments shall be made as provide in this Agreement. Executive acknowledges and agrees that the Severance Payments & Benefits constitute good and valuable consideration for such release. 

As used herein, “Good Reason” shall mean the occurrence of any of the following without Executive’s prior consent:
(A) the Company’s material breach of any material provision of this Agreement, (B) the material reduction in Executive’s duties or level of responsibilities as Executive Vice President, General Counsel and Secretary, excluding
for this purpose any such reduction that is an isolated and inadvertent action not taken in bad faith or that is authorized pursuant to this Agreement, (C) the material reduction in Executive’s Base Salary or (D) the 

  
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relocation of Executive’s principal place of employment more than 50 miles outside the Greater Seattle metropolitan area, provided that in no event shall Executive’s
resignation be for “Good Reason” unless (x) an event or circumstance set forth in clauses (A) through (D) shall have occurred and Executive provides the Company with written notice thereof within 30 days after the
occurrence or existence of such event or circumstance, which notice specifically identifies the event or circumstance that Executive believes constitutes Good Reason, (y) the Company fails to correct the circumstance or event so identified
within 30 days after receipt of such notice, and (z) the Executive resigns within 90 days after the date of delivery of the notice referred to in clause (x) above. 
 Notwithstanding the preceding provisions of Section 1(d), in the event that Executive is a “specified employee” (within the meaning of Section 409A of the Code, including any
regulations and guidance issued thereunder (“Section 409A”)) on the date of termination of Executive’s employment with the Company and the Severance Payments and Benefits to be paid within the first six months following such date (the
“Initial Payment Period”) exceed the amount referenced in Treas. Regs. Section 1.409A-1(b)(9)(iii)(A) (the “Limit”), then (1) any portion of the Severance Payments & Benefits that is a “short-term
deferral” within the meaning of Treas. Regs. Section 1.409A-1(b)(4)(i) shall be paid at the times set forth in Section 1(d), (2) any portion of the Severance Payments & Benefits (in addition to the amounts contemplated
by the immediately preceding clause (1)) that is payable during the Initial Payment Period that does not exceed the Limit shall be paid at the times set forth in Section 1(d) as applicable, (3) any portion of the 409A Payments that
exceeds the Limit and is not a “short-term deferral” (and would have been payable during the Initial Payment Period but for the Limit) (the “Deferred Payments”) shall be paid, with Interest, on the first business day of the first
calendar month that begins after the six-month anniversary of Executive’s “separation from service” (within the meaning of Section 409A) (the “Delayed Initial Payment Date”) and (4) any portion of the Severance
Payments & Benefits that is payable after the Initial Payment Period shall be paid at the times set forth in Section 1(d), as applicable. For purposes of this Agreement, “Interest” shall mean interest at the applicable
federal rate provided for in Section 7872(f)(2)(A) of the Code, from the date on which a payment would otherwise have been made but for any required delay through the date of payment. 
 (e) OFFSET. If Executive obtains other employment during the Salary Continuation Period, any payments to be made to Executive under Section 1(d) hereof after the date such employment is
secured shall be offset by the amount of compensation earned by Executive from such employment. For purposes of this Section 1(e), Executive shall have an obligation to inform the Company regarding Executive’s employment status following
termination and during the Salary Continuation Period, but shall have no affirmative duty to seek alternate employment. 
 (f) ACCRUED
OBLIGATIONS. As used in this Agreement, “Accrued Obligations” shall mean the sum of (i) any portion of Executive’s accrued and earned but unpaid Base Salary through the date of death or termination of employment for any
reason, as the case may be; (ii) any compensation previously earned but deferred by Executive (together with any interest or earnings thereon) that has not yet been paid and that is not otherwise paid at a later date pursuant to any deferred
compensation arrangement of the Company to which Executive is a party, if any 

  
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(provided, that any election made by Executive pursuant to any deferred compensation arrangement that is subject to Section 409A regarding the schedule for payment of such deferred
compensation shall prevail over this Section 1(f) to the extent inconsistent herewith); and (iii) other than in the event of Executive’s resignation without Good Reason or termination by the Company for Cause (except as required by
applicable law), any portion of Executive’s accrued but unpaid vacation pay through the date of death or termination of employment. 
 (g)
OTHER BENEFITS. Upon any termination of Executive’s employment prior to the expiration of the Term, Executive shall remain entitled to receive any vested benefits or amounts that Executive is otherwise entitled to receive under any plan,
policy, practice or program of, or any other contract or agreement with, the Company in accordance with the terms thereof (other than any such plan, policy, practice or program of the Company that provides benefits in the nature of severance or
continuation pay). 
 (h) SECTION 409A. This Agreement is intended to comply with Section 409A to the extent Section 409A is
applicable to this Agreement. Notwithstanding any other provision of this Agreement to the contrary, this Agreement shall be interpreted, operated and administered by the Company in a manner consistent with such intention and to avoid the
pre-distribution inclusion in income of amounts deferred under this Agreement and the imposition of any additional tax or interest with respect thereto. Each payment under this Agreement shall be treated as a separate payment for purposes of
Section 409A. 
  

	2.	CONFIDENTIAL INFORMATION; NON-COMPETITION; NON-SOLICITATION; AND PROPRIETARY RIGHTS. 

(a) CONFIDENTIALITY. Executive acknowledges that while employed by the Company Executive will occupy a position of trust and
confidence. The Company has provided and shall continue to provide Executive with Confidential Information. Executive shall hold in a fiduciary capacity for benefit of the Company and its subsidiaries and affiliates, and shall not, except as may be
required to perform Executive’s duties hereunder or as required by applicable law, without limitation in time, communicate, divulge, disseminate, disclose to others or otherwise use, whether directly or indirectly, any Confidential Information.
“Confidential Information” shall mean information about the Company or any of its subsidiaries or affiliates, and their respective businesses, employees, consultants, contractors, suppliers, clients and customers that is not disclosed by
the Company or any of its subsidiaries or affiliates for financial reporting purposes and that was learned by Executive in the course of employment by the Company or any of its subsidiaries or affiliates, including (without limitation) any
proprietary knowledge, trade secrets, data, formulae, processes, methods, research, secret data, costs, names of users or purchasers of their respective products or services, business methods, operating procedures or programs or methods of promotion
and sale, information relating to accounting or tax strategies and data, information and client and customer lists and all papers, resumes, and records (including computer records) of the documents containing such Confidential Information. For
purposes of this Section 2(a), information shall not cease to be Confidential Information merely because it is embraced by general disclosures for financial reporting purposes or because individual features or combinations thereof are publicly
available. Notwithstanding the foregoing provisions, if Executive is required to disclose any 

  
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such confidential or proprietary information pursuant to applicable law or a subpoena or court order, Executive shall promptly notify the Company in writing of any such requirement so that the
Company may seek an appropriate protective order or other appropriate remedy or waive compliance with the provisions hereof. Executive shall reasonably cooperate with the Company to obtain such a protective order or other remedy. If such order or
other remedy is not obtained prior to the time Executive is required to make the disclosure, or the Company waives compliance with the provisions hereof, Executive shall disclose only that portion of the confidential or proprietary information which
he is advised by counsel that he is legally required to so disclose. Executive acknowledges that such Confidential Information is specialized, unique in nature and of great value to the Company and its subsidiaries or affiliates, and that such
information gives the Company and its subsidiaries or affiliates a competitive advantage. Executive agrees to deliver or return to the Company, at the Company’s request at any time or upon termination or expiration of Executive’s
employment, all documents, computer tapes and disks, plans, initiatives, strategies, records, lists, data, drawings, prints, notes and written information (and all copies thereof) created by or on behalf of the Company or its subsidiaries or
affiliates or prepared by Executive in the course of Executive’s employment by the Company and its subsidiaries or affiliates. As used in this Agreement, “subsidiaries” and “affiliates” shall mean any company controlled by,
controlling or under common control with the Company. 
 (b) NON-COMPETITION. In consideration of the Company’s
promise to disclose, and disclosure of, its Confidential Information and other good and valuable consideration provided hereunder, the receipt and sufficiency of which are hereby acknowledged by Executive, Executive hereby agrees and covenants that:
Until the longer of (i) the last day of the Term and (ii) a period of 18 months beyond Executive’s date of termination of employment for any reason, including the expiration of the Term (the “Restricted Period”),
Executive shall not, directly or indirectly, engage in, assist or become associated with a Competitive Activity. For purposes of this Section 2(b): (i) a “Competitive Activity” means, at the time of Executive’s termination,
any business or other endeavor in any jurisdiction of a kind being conducted by the Company or any of its subsidiaries or affiliates (or demonstrably anticipated by the Company or its subsidiaries or affiliates), including, without limitation, those
that are engaged in the provision of any lodging or travel related services (including, without limitation, corporate travel services), in any jurisdiction as of the Effective Date or at any time thereafter (such affiliates including, without
limitation, Hotels.com, and Hotwire, Inc.); and (ii) Executive shall be considered to have become “associated with a Competitive Activity” if Executive becomes directly or indirectly involved as an owner, principal, employee, officer,
director, independent contractor, representative, stockholder, financial backer, agent, partner, advisor, lender, or in any other individual or representative capacity with any individual, partnership, corporation or other organization that is
engaged in a Competitive Activity. Notwithstanding the foregoing, Executive may make and retain investments during the Restricted Period, for investment purposes only, in less than five percent of the outstanding capital stock of any publicly-traded
corporation engaged in a Competitive Activity if stock of such corporation is either listed on a national stock exchange or on the NASDAQ National Market System if Executive is not otherwise affiliated with such corporation. 

  
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 (c) NON-SOLICITATION OF EMPLOYEES. Executive recognizes that he or she will possess
Confidential Information about other employees, officers, directors, agents, consultants and independent contractors of the Company and its subsidiaries or affiliates relating to their education, experience, skills, abilities, compensation and
benefits, and inter-personal relationships with suppliers to and customers of the Company and its subsidiaries or affiliates. Executive recognizes that the information he or she will possess about these employees, officers, directors, agents,
consultants and independent contractors is not generally known, is of substantial value to the Company and its subsidiaries or affiliates in developing their respective businesses and in securing and retaining customers, and will be acquired by
Executive because of Executive’s business position with the Company. Executive agrees (i) that, during the Restricted Period, Executive will not, directly or indirectly, hire or solicit or recruit the employment or services of (i.e.,
whether as an employee, officer, director, agent, consultant or independent contractor), or encourage to change such person’s relationship with the Company or any of its subsidiaries or affiliates, any employee, officer, director, agent,
consultant or independent contractor of the Company or any of its subsidiaries or affiliates provided, however, that a general solicitation of the public for employment shall not constitute a solicitation hereunder so long as such
general solicitation is not designed to target, or does not have the effect of targeting, any employee, officer, director, agent, consultant or independent contractor of the Company or any of its subsidiaries or affiliates and (ii) that
Executive will not convey any Confidential Information or trade secrets about any employees, officers, directors, agents, consultants and independent contractors of the Company or any of its subsidiaries or affiliates to any other person except
within the scope of Executive’s duties hereunder. 
 (d) NON-SOLICITATION OF CUSTOMERS, SUPPLIERS, PARTNERS. During
the Restricted Period, Executive shall not, without the prior written consent of the Company, directly or indirectly, solicit, attempt to do business with, or do business with any customers of, suppliers (including providers of travel
inventory) to, business partners of or business affiliates of the Company or any of its subsidiaries or affiliates (collectively, “Trade Relationships”) on behalf of any entity engaged in a Competitive Activity, or encourage (regardless of
who initiates the contact) any Trade Relationship to use the services of any competitor of the Company or its subsidiaries or affiliates, or encourage any Trade Relationship to change its relationship with the Company or its subsidiaries or
affiliates. 
 (e) PROPRIETARY RIGHTS; ASSIGNMENT. All Executive Developments (as defined below) shall be made for hire
by Executive for the Company or any of its subsidiaries or affiliates. “Executive Developments” means any idea, discovery, invention, design, method, technique, improvement, enhancement, development, computer program, machine, algorithm or
other work or authorship, in each case, (i) that (A) relates to the business or operations of the Company or any of its subsidiaries or affiliates, or (B) results from or is suggested by any undertaking assigned to Executive or work
performed by Executive for or on behalf of the Company or any of its subsidiaries or affiliates, whether created alone or with others, during or after working hours and (ii) that is conceived or developed during the Term. All Confidential
Information and all Executive Developments shall remain the sole property of the Company or any of its subsidiaries or affiliates. Executive shall acquire no proprietary interest in any Confidential Information or Executive Developments developed or
acquired during the Term. To the extent Executive may, by operation of law or otherwise, acquire any right, title or interest 

  
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in or to any Confidential Information or Executive Development, Executive hereby assigns to the Company all such proprietary rights. Executive shall, both during and after the Term, upon the
Company’s request, promptly execute and deliver to the Company all such assignments, certificates and instruments, and shall promptly perform such other acts, as the Company may from time to time in its reasonable discretion deem necessary or
desirable to evidence, establish, maintain, perfect, enforce or defend the Company’s rights in Confidential Information and Executive Developments. 
 (f) COMPLIANCE WITH POLICIES AND PROCEDURES. During the Term, Executive shall adhere to the policies and standards of professionalism set forth in the Company’s Policies and Procedures as they
may exist from time to time. 
 (g) REMEDIES FOR BREACH. Executive expressly agrees and understands that Executive will
notify the Company in writing of any alleged breach of this Agreement by the Company, and the Company will have 30 days from receipt of Executive’s notice to cure any such breach. Executive expressly agrees and understands that the remedy at
law for any breach by Executive of this Section 2 will be inadequate and that damages flowing from such breach are not usually susceptible to being measured in monetary terms. Accordingly, it is acknowledged that upon Executive’s violation
of any provision of this Section 2 the Company shall be entitled to obtain from any court of competent jurisdiction immediate injunctive relief and obtain a temporary order restraining any threatened or further breach as well as an equitable
accounting of all profits or benefits arising out of such violation. Nothing in this Section 2 shall be deemed to limit the Company’s remedies at law or in equity for any breach by Executive of any of the provisions of this Section 2,
which may be pursued by or available to the Company. 
 (h) SURVIVAL OF PROVISIONS. The obligations contained in this
Section 2 shall, to the extent provided in this Section 2, survive the termination or expiration of Executive’s employment with the Company and, as applicable, shall be fully enforceable thereafter in accordance with the terms of this
Agreement. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 2 is excessive in duration or scope or is unreasonable or unenforceable under the laws of that state, it is the intention of
the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the law of that state. 
 3. TERMINATION OF PRIOR AGREEMENTS. This Agreement constitutes the entire agreement between the parties and terminates and supersedes any and all prior and contemporaneous agreements and
understandings (whether written or oral) between the parties with respect to the subject matter of this Agreement. Executive acknowledges and agrees that neither the Company nor anyone acting on its behalf has made, and is not making, and in
executing this Agreement, the Executive has not relied upon, any representations, promises or inducements except to the extent the same is expressly set forth in this Agreement. Notwithstanding the foregoing, all stock option agreements and
restricted stock unit agreements between Executive and the Company survive and are hereby incorporated by reference into this Agreement. 
 4.
ASSIGNMENT; SUCCESSORS. This Agreement is personal in its nature and none of the parties hereto shall, without the consent of the others, assign or transfer this Agreement or 

  
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any rights or obligations hereunder, provided that, in the event of a transfer of Executive to any entity affiliated with the Company and/or the merger, consolidation, transfer, or sale of all or
substantially all of the assets of the Company with or to any other individual or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and
perform all the promises, covenants, duties, and obligations of the Company hereunder, and all references herein to the “Company” shall refer to such successor. 
 5. WITHHOLDING. The Company shall make such deductions and withhold such amounts from each payment and benefit made or provided to Executive hereunder, as may be required from time to time by
applicable law, governmental regulation or order. 
 6. HEADING REFERENCES. Section headings in this Agreement are included herein for
convenience of reference only and shall not constitute a part of this Agreement for any other purpose. References to “this Agreement” or the use of the term “hereof” shall refer to these Standard Terms and Conditions and the
Employment Agreement attached hereto, taken as a whole. 
 7. WAIVER; MODIFICATION. Failure to insist upon strict compliance with any of
the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or
more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect, or extended beyond expiration of the Term (regardless of continued employment), except by a
writing executed by each party hereto. Notwithstanding anything to the contrary herein, neither the assignment of Executive to a different Reporting Officer due to a reorganization or an internal restructuring of the Company or its affiliated
companies nor a change in the title of the Reporting Officer shall constitute a modification or a breach of this Agreement. 
 8.
SEVERABILITY. In the event that a court of competent jurisdiction determines that any portion of this Agreement is in violation of any law or public policy, only the portions of this Agreement that violate such law or public policy shall be
stricken. All portions of this Agreement that do not violate any statute or public policy shall continue in full force and effect. Further, any court order striking any portion of this Agreement shall modify the stricken terms as narrowly as
possible to give as much effect as possible to the intentions of the parties under this Agreement. 
 9. INDEMNIFICATION. The Company
shall indemnify and hold Executive harmless for acts and omissions in Executive’s capacity as an officer, director or employee of the Company to the maximum extent permitted under applicable law, as set forth in the Certificate of Incorporation
and Bylaws of Expedia, Inc. (Delaware). 

  
 9 

 ACKNOWLEDGED AND AGREED AS OF THE EFFECTIVE DATE: 

 

	
	EXPEDIA, INC.
	
	/s/ Connie L. Symes
	By: Connie L. Symes
	Title: EVP, HR
	
	 /s/ Robert Dzielak

	
	Robert Dzielak

  
 10Employee Agreement

 Exhibit 10.2 
 PRIVILEGED AND CONFIDENTIAL 
 EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is entered into by and between First PacTrust Bancorp, Inc., a Maryland
corporation (“Bancorp”), and David R. Misch (“Employee”) as of August 21, 2012 and effective as of the Closing Date (as defined in the Merger Agreement by and between Bancorp and The Private Bank of California (the
“Merger Agreement”), which shall hereinafter be referred to as the “Effective Date”). For purposes of this Agreement, Bancorp and Pacific Trust Bank, a federally-chartered savings bank (“Bank”), shall collectively be
referred to as “Employer”). If the Closing Date does not occur, this Agreement will be null and void ab initio and of no force and effect. 
 WITNESSETH: 
 WHEREAS, Employee is currently serving as Chief Executive Officer of
The Private Bank of California; 
 WHEREAS, Employer desires to employ Employee, and Employee desires to be employed by
Employer, effective upon the Closing Date upon the terms and subject to the conditions set forth herein; 
 NOW, THEREFORE, in
consideration of the premises and mutual covenants herein contained, the parties hereby agree as follows: 
 1.
Employment. Employer hereby agrees to employ Employee as Executive Vice President and Chief Risk Officer, and Employee hereby accepts employment with Employer upon the terms and conditions herein set forth. 

2. Term. The term of employment under this Agreement shall begin on the Effective Date and shall expire on the third anniversary
of the Effective Date, unless terminated sooner as hereinafter provided. 
 3. Duties. Employee will, during the term of
employment hereof: 
  

	 	(a)	be employed by Employer on a full-time basis with all such authority, duties and responsibilities as are commensurate with his position as Executive Vice President and
Chief Risk Officer and as may be consistent with such position, reporting directly to the Board of Directors of Bancorp and the Chief Executive Officer of Bancorp and shall perform such other duties and responsibilities on behalf of Bancorp and its
affiliates as reasonably may be directed by the Board of Directors of Bancorp or the Chief Executive Officer of Bancorp; 

  

	 	(b)	supervise and manage Employer’s enterprise-level credit, compliance and enterprise risk management functions; and 

 

	 	(c)	devote his full business time, energy, and skill to the business of Employer and to the promotion of Employer’s best interests, except for vacations and absences
made necessary because of illness (it being understood that Employee may serve as a member on the boards of directors or trustees of non-profit organizations to the extent such service does not interfere with performance of his duties hereunder).

 4. Compensation. During the term of employment, Employer shall pay Employee: 

 

	 	(a)	a base salary at the rate of $350,000 per annum, payable in periodic payments in accordance with Employer’s practices for other executive, managerial, and
supervisory employees (but not less frequently than monthly), as such practices may be determined from time to time and subject to customary tax withholdings. The Board of Directors of Bancorp or the Compensation Committee of the Board of Directors
of Bancorp (the “Committee”) will review such base salary at least annually and, in their discretion, may increase such salary. 

	 	(b)	commencing in 2013, incentive compensation based upon Employee’s performance as the Board of Directors of Bancorp or the Committee in their discretion may from
time to time determine; provided, however, that Employee shall, subject to Employee’s continued employment with Employer through December 31, 2013 (except as provided otherwise herein in Section 10(b)), be guaranteed an
incentive cash bonus of $100,000 for calendar year 2013 (the “2013 Guaranteed Bonus”). Any amounts payable under this Section 4(b) shall be paid as soon as practicable after (and in no event later than March 15 of the year
following) the calendar year in respect of which such incentive compensation is granted. 

 All such payments, and
any other compensation provided by Employer to Employee, whether under this Agreement or otherwise, will be subject to such deductions and clawback (recovery) as may be required to be made pursuant to law, government regulation, order, stock
exchange listing requirement (or any policy of Employer adopted pursuant to any such law, government regulation, order or stock exchange listing requirement) or by agreement with, or consent of, Employee. 

5. Options. 
  

	 	(a)	General. Executive may receive grants of options from Bancorp from time to time for his services as an executive at Employer and/or any subsidiary of Employer.
On the Effective Date, Executive shall receive a grant under the First PacTrust Bancorp, Inc. 2011 Omnibus Incentive Plan of non-qualified stock options to purchase 100,000 shares of Bancorp’s voting common stock at an exercise price per share
equal to the closing market price per share of Bancorp’s common stock on the Effective Date (the “Initial Grant”). The Initial Grant shall, subject to Employee’s continued employment through the applicable vesting date (except as
provided otherwise in Section 10(b)), become vested and exercisable in three annual installments of 33,333 shares, 33,333 shares and 33,334 shares on each of the first, second and third anniversaries, respectively, of the Effective Date. The
terms of the Initial Grant, including the foregoing vesting schedule, shall be subject to the terms of the final option agreement which evidences the Initial Grant, which shall be attached hereto as Exhibit A (the “Initial Grant
Agreement”). In the event of a conflict between the Initial Grant Agreement and this Agreement, the terms of the Initial Grant Agreement shall control. 

 

	 	(b)	Designation of Beneficiary. From time to time, by signing a form furnished to Employer, Employee may designate any legal or natural person or persons (who may be
designated contingently or successively) to whom to transfer the Initial Grant if he were to die before he exercised the Initial Grant. If Employee fails to designate a beneficiary as provided above, or if the designated beneficiary dies before
Employee or before exercise of the Initial Grant, the Initial Grant shall be transferred to the Employee’s estate. For purposes of this Agreement, the term “designated beneficiary” means the person or persons designated by Employee as
his beneficiary in the last effective beneficiary designation form filed with Employer, or if Employee has failed to designate a beneficiary, the Employee’s estate. 

6. Automobile and Other Expenses. During the term of employment of this Agreement, Employer shall provide Employee with an auto
allowance of $1,000 per month, with annual increases in such payment to be determined by the Board of Directors of Bancorp or the Committee to reflect increases in the cost of living or fuel costs and shall reimburse Employee for business
related use of his personal automobile in excess of 800 miles per month in accordance with the Employer’s expense reimbursement policy. Employee shall be reimbursed for other expenses incurred in connection with Employer’s business in
accordance with Employer’s expense reimbursement policy for senior executives. Employer shall reimburse Employee for the monthly cost of maintaining membership in the Jonathan Club. 

7. Benefits. Employee shall be entitled to participate in such vacation, life insurance, medical, dental, pension, supplemental
disability, retirement plans and other programs as may be approved from time to time by Employer for the benefit of its executive employees generally (excluding the Chief Executive Officer). 

8. Vacation. Employee shall be entitled to 2.0833 days of vacation for each month of service or such other accruals as outlined in
Employer’s human resource policies in effect from time to time. In the event that Employee does not take the full number of earned and accrued vacation days for any calendar year, Employee’s ongoing accrual of vacation shall, to the extent
applicable, be limited by the maximum level of carryover accrued vacation permitted in Employer’s then-existing policy for the carry-forward of accrued vacation. 

 9. Termination. 

 

	 	(a)	Employee’s employment with Employer shall be terminated by reason of Employee’s death or Employee’s becoming permanently disabled for purposes of
Employer’s long-term disability program. 

  

	 	(b)	Employer may terminate Employee’s employment hereunder for any reason, with or without Cause, at any time upon notice to Employee, but any termination by Employer
other than termination for Cause shall not prejudice Employee’s right to compensation or other benefits under this Agreement. 

  

	 	(c)	Employee may terminate his employment hereunder without Good Reason at any time upon forty-five (45) days’ prior written notice to Employer. In the event of
termination of Employee’s employment pursuant to this Section 9(c), Employer may elect to waive the period of notice, or any portion thereof, and, if Employer so elects, Employer will pay Employee his base salary for the period so waived
at the time or times in accordance with Employer policy in effect at such time. 

  

	 	(d)	Employee may terminate his employment for Good Reason within ninety (90) days following the first occurrence of any condition constituting Good Reason (as defined
below), provided that Employee has first provided notice to Employer specifying in reasonable detail the condition giving rise to the Good Reason, Employee has provided Employer with a period of thirty (30) days to remedy the condition, and
Employer has failed to remedy the condition within this thirty (30) day period. 

 10. Severance
Benefits. 
  

	 	(a)	In the event of the termination of Employee’s employment for any reason during the term of employment, Employee shall be entitled to any Accrued Obligations (as
defined in Section 10(i)). 

  

	 	(b)	In the event that during the term of employment either (1) Employer terminates Employee’s employment without Cause or Employee terminates his employment for
Good Reason, or (2) Employee resigns for any reason between (and including) January 1, 2014 and June 30, 2014, in each case of (1) and (2) subject to Employee’s compliance with Sections 10(e-i), 11 and 12 and the terms
and conditions of Sections 14 and 16, (i) Employee shall be entitled to cash severance pay of $250,000, (ii) Employee shall be reimbursed for the costs under COBRA for continuation of medical benefits until the earlier to occur of
(x) 18 months following the date of termination of employment and (y) the date at which Employee commences full time employment with another employer, (iii) if the date of termination of employment occurs after December 31, 2012,
to the extent unpaid as of such date of termination, the 2013 Guaranteed Bonus, and (iv) the Initial Grant, to the extent not theretofore fully vested, shall become fully vested and immediately exercisable in accordance with its terms.

  

	 	(c)	 Subject to Section 14, the severance pay amount in Section 10(b)(i) shall be paid in 18 equal monthly installments commencing on the first
business day coincident with or next following the sixtieth (60th) calendar day following Employee’s termination of employment. 

  

	 	(d)	In the event of Employee’s death within 18 months after termination for any reason, all unpaid amounts and benefits to be paid or provided under this section 10
shall be paid to Employee’s designated beneficiary as noted in Section 5(b) of this Agreement. 

  

	 	(e)	All amounts and benefits paid or provided pursuant to Section 10(b) are subject to and conditioned upon Employee signing and delivering to (and not revoking)
Employer within no later than fifty-two (52) calendar days after the date of termination of employment, a general release and waiver (in a form reasonably acceptable to Employer), waiving all claims Employee may have against Employer, its
parents, subsidiaries, successors, assigns, affiliates, and their respective executives, officers and directors relating to Employee’s employment with Employer (and the termination thereof). 

 

	 	(f)	The payment and provision of amounts and benefits under Section 10(b) are conditioned upon the Employee’s compliance with the non-solicitation and
nondisclosure requirements set forth in Sections 11 and 12 hereof. 

	 	(g)	Notwithstanding any other provision of this Agreement to the contrary, if payments under this Agreement, together with any other payments received or to be received by
Employee in connection with a “change in control” (for purposes of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”)) would cause any amount to be nondeductible for federal income tax purposes
pursuant to Section 280G of the Code, then amounts and benefits under this Agreement shall (beginning with the amount provided under Section 10(b)(i) and followed by the amounts or benefits in Section 10(b)(iii), 10(b)(ii) and
10(b)(iv)) be reduced (but not less than zero) to the extent necessary so as to maximize payments to Employee without causing any amount to become nondeductible by reason of Section 280G of the Code. 

 

	 	(h)	Notwithstanding any other provision of this Agreement to the contrary, any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and
conditioned upon their compliance with 12 U.S.C. § 1828(k) and any regulations promulgated thereunder, including 12 C.F.R. Part 359. 

  

	 	(i)	For purposes of this Agreement: 

  

	 	(A)	“Accrued Obligations” means (i) any base salary that Employee has earned but not been paid as of the date of Employee’s termination of
employment, (ii) pay for any vacation time earned but not used through the date of termination, subject to Section 8 of this Agreement, (iii) any business expenses that are reimbursable under Section 6 that were incurred by
Employee but not reimbursed as of the date of Employee’s termination of employment, subject to the submission of any required substantiation and documentation, and (iv) any vested payments or benefits to which Employee or his beneficiary
or estate is entitled under the terms of any applicable employee benefit plan. 

  

	 	(B)	Termination for “Cause” shall mean termination of the employment of Employee because of Employee’s personal dishonesty, incompetence, willful
misconduct, breach of a fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or
material breach of any provision of this Agreement. Employee shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to Employee a copy of a resolution, duly adopted by the affirmative vote of not less
than a majority of the entire membership of the Board of Directors of Bancorp at a meeting or meetings of such Board called and held for such purpose (after reasonable notice to Employee and an opportunity for Employee, together with Employee’s
counsel, to be heard before such Board), stating that in the good faith opinion of the Board, Employee has engaged in conduct described in the preceding sentence and specifying the particulars thereof in detail. For purposes of this section, the
term “incompetence” shall mean inability, as determined by the Board of Directors of Bancorp in their reasonable judgment, to perform stated duties. 

 

	 	(C)	“Good Reason” shall exist if, without Employee’s express written consent, Employer shall: 

 

	 	(1)	assign to Employee duties that are materially inconsistent with that of his position as Executive Vice President and Chief Risk Officer of Employer (including status,
offices, title(s) and reporting requirements), or the authority, duties or responsibilities thereof, or any other action by Employer which results in a material diminution in such position, authority, duties or responsibilities;

  

	 	(2)	unless required by regulatory authorities, materially reduce the salary of Employee, or materially reduce the amount of paid vacations to which he is entitled;

  

	 	(3)	materially breach this Agreement; or 

  

	 	(4)	require Employee to relocate his principal business office outside of the Los Angeles-Orange County metropolitan area or such other area as may be mutually agreeable
between Employee and Employer; or assign to Employee duties that would reasonably require such relocation. 

 11. Nonsolicitation. 

 

	 	(a)	Unless otherwise agreed in writing, during the term of employment, and for a period of twenty-four (24) months following a termination of Employee’s
employment with Employer entitling Employee to severance pay under Section 10(b), Employee shall not induce or attempt to induce any individual or entity who was an employee, agent or independent contractor of Employer or any of its affiliates
during the period of Employee’s employment hereunder to discontinue providing services to Employer or any of its affiliates. 

  

	 	(b)	Unless otherwise agreed in writing, during the term of employment, and for a period of twenty-four (24) months following a termination of Employee’s
employment with Employer entitling Employee to severance pay under Section 10(b), Employee shall not, and will not assist any other person to (a) hire or solicit for hiring any employee of Employer or any of its affiliates or seek to
persuade any employee of Employer or any of its affiliates to discontinue employment or (b) solicit or encourage any independent contractor providing services to Employer or any of its affiliates to terminate or diminish its relationship with
them. 

 12. Nondisclosure of Confidential Information. Employee acknowledges that Employer and its
affiliates may disclose confidential information to Employee during the term of employment to enable him to perform his duties hereunder. Employee hereby covenants and agrees that, except as required by law, regulatory directive or judicial order,
he will not, without the prior written consent of Employer, during the term of employment or at any time thereafter, disclose or permit to be disclosed to any third party by any method whatsoever any of the confidential information of Employer or
any of its affiliates. For purposes of this Agreement, “confidential information” shall include, but not be limited to, any and all records, notes, memoranda, data, ideas, processes, methods, techniques, systems, formulas, patents, models,
devices, programs, computer software, writings, research, personnel information, customer information, financial information of Employer or any of its affiliates, plans, or any other information of whatever nature in the possession or control of
Employer which has not been published or disclosed to the general public, or which gives to Employer or any of its affiliates an opportunity to obtain an advantage over competitors who do not know of or use it. Employee further agrees that if his
employment hereunder is terminated for any reason, he will leave with Employer and will not take originals or copies of any and all records, papers, programs, computer software and documents and all matter of whatever nature containing secret or
confidential information of Employer or any of its affiliates. 
 Employee agrees promptly to reduce to writing and to disclose
and assign, and hereby does assign, to Employer, its subsidiaries, successors, assigns and nominees, all inventions, discoveries, improvements, copyrightable material, trademarks, programs, computer software and ideas concerning the same, capable of
use in connection with the business of Employer or any of its affiliates, which Employee may make or conceive, either solely or jointly with others, during the period of his employment by Employer, its subsidiaries or successors. 

Employee agrees, at Employer’s expense, that upon a request by Employer, to execute, acknowledge and deliver to Employer all such
papers, including applications for patents, applications for copyright and trademark registrations, and assignments thereof, as may be necessary, and at all times to assist Employer, its parent, subsidiaries, successors, assigns and nominees in
every proper way to patent or register said programs, computer software, ideas, inventions, discoveries, improvements, copyrightable material or trademarks in any and all countries and to vest title thereto in Employer, its parent, subsidiaries,
successors, assigns or nominees. 
 Upon a request by Employer, Employee will promptly report to Employer all discoveries,
inventions, or improvements of whatsoever nature conceived or made by him at any time he was employed by Employer, its parent, subsidiaries or successors. All such discoveries, inventions and improvements which are applicable in any way to
Employer’s business shall be the sole and exclusive property of Employer. 
 The covenants set forth in this
Section 12 are made by Employee in consideration of the employment, or continuing employment of, and the compensation paid to, Employee during his employment by Employer. The foregoing covenants will not prohibit Employee from disclosing
confidential or other information to other employees of Employer or to third parties to the extent that such disclosure is necessary to the performance of his duties under this Agreement. 

Any breach of this covenant of nondisclosure will result in the forfeiture by Employee and all other persons acting for or with Employee
in any capacity whatsoever of any and all rights to any amounts and benefits provided under Section 10(b) which are unpaid at the time of breach and in such event Employer shall have no further obligation to pay any amounts related thereto.

 13. Additional Remedies. Employee recognizes that his services hereunder are of a
personal, special, unique and extraordinary character and irreparable injury will result to Employer and to its business and properties in the event of any breach by Employee of any of the provisions of Sections 11 and 12 of this Agreement or either
of them, and that Employee’s continued employment is predicated on the commitments undertaken by him pursuant to said Sections. In the event of any breach of any of Employee’s commitments pursuant to either of Sections 11 or 12, Employer
shall be entitled, in addition to any other remedies and damages available, to injunctive relief to restrain the violation of such commitments by Employee or by any person or persons acting for or with Employee in any capacity whatsoever.

 14. Section 409A. 
  

	 	(a)	Any payments that qualify for the “short-term deferral” exception or another exception under Section 409A of Code and the regulations and guidance of
general applicability issued thereunder (“Section 409A”) shall be paid under the applicable exception. Notwithstanding anything to the contrary in this Agreement, if at the time of Employee’s termination of employment, Employee is a
“specified employee,” as defined below, any and all amounts payable under Section 10 on account of such termination of employment that constitute “nonqualified deferred compensation” under Section 409A and would (but
for this provision) be payable within six (6) months following the date of termination, shall instead be paid on the next business day following the expiration of such six (6) month period or, if earlier, upon Employee’s death. If Employee
receives compensation under Section 10 that can in part be treated as paid under a “separation pay plan” described in Treasury Regulation Section 1.409A-1(b)(9) then, to the extent permitted under Section 409A, the
compensation shall be treated as first made from the separation pay plan. 

  

	 	(b)	For purposes of Section 10 of this Agreement, all references to “termination of employment” and correlative phrases shall be construed to require a
“separation from service” (as defined in Treasury regulation Section 1.409A-l(h) after giving effect to the presumptions contained therein), and the term “specified employee” means an individual determined by Employer to be
a specified employee under Treasury regulation Section 1.409A-l(i) in accordance with the policies of Employer. 

  

	 	(c)	Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement shall be treated as
a right to a series of separate payments. 

  

	 	(d)	Any amount that Executive is entitled to be reimbursed or to have paid on his behalf under this Agreement that would constitute nonqualified deferred compensation
subject to Section 409A shall be subject to the following additional rules: (i) no reimbursement of any such expense shall affect the Executive’s right to reimbursement of any such expense in any other taxable year;
(ii) reimbursement of the expense shall be made, if at all, promptly, but not later than the end of the calendar year following the calendar year in which the expense was incurred; and (iii) the right to reimbursement shall not be subject
to liquidation or exchange for any other benefit. 

  

	 	(e)	The parties acknowledge and agree that, to the extent applicable, this Agreement shall be interpreted in accordance with Section 409A, including without limitation
any such regulations or other guidance that may be issued in the future. The parties shall cooperate in good faith and take all steps reasonably necessary and practicable consistent with the terms of this Agreement to comply with the requirements of
Section 409A in order to avoid income inclusion under Section 409A or the imposition of taxes thereunder. 

 15. Reserved. 
 16. Adjustments to Comply with Final Interagency
Guidance on Sound Incentive Compensation Policies. Notwithstanding anything herein to the contrary, the compensation or benefits provided under this Agreement are subject to modification, as necessary to comply with requirements imposed by the
Board of Directors of Bancorp to comply with the “Final Interagency Guidance on Sound Incentive Compensation Policies” issued on an interagency basis by the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal
Deposit Insurance Corporation and the Office of Thrift Supervision, effective June 25, 2010, or any amendment, modification or supplement thereto, which shall be deemed to include, without limitation, any rules adopted pursuant to
Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

 17. Provisions Required By Law. Notwithstanding anything herein to the contrary, any
provisions that are now or are in the future required by applicable law, rule, regulation or regulatory guidance or policy of general applicability to be included in this Agreement that are not expressly stated herein (including, without limitation,
any provisions so required under 12 C.F.R. Section 163.39) shall be deemed to be a part of this Agreement as fully as if such provisions were expressly stated herein. 
 18. No Duplication of Employer Obligations. With respect to any payments or other compensation to be provided hereunder by Employer, the provision of such payments or other compensation by the Bank
shall be deemed to reduce, to the same extent, the obligation of Bancorp to provide such payments or other compensation, and vice versa. 
 19. Assignment: Benefit. No party shall have the right to assign this Agreement or any rights or obligations hereunder without the consent of each of the other parties; provided, however, that
Employer may assign its rights and obligations hereunder (i) to any entity controlled by, under the control of, or under common control with, Employer (as long as such entity is no less capable of fulfilling the obligations of Employer
hereunder), or (ii) to any successor to Employer upon any liquidation, dissolution or winding up of Employer, upon any merger or consolidation of Employer or upon any sale of all or substantially all of the assets of Employer (as long as such
successor is capable of fulfilling the obligations of Employer hereunder). 
 20. Waiver. Failure of any party hereto at
any time to require performance by any other party of any provision of this Agreement shall in no way affect the rights of such first party to require performance of that provision, and any waiver by any party hereto of any provision of this
Agreement shall not be construed as a waiver of any continuing or succeeding breach of such provision, a waiver of the provision itself, or a waiver of any rights under this Agreement. 

21. Severability. If any clause, phrase, provision or portion of this Agreement or the application thereof to any person or
circumstance shall be invalid or unenforceable under any applicable law, such event shall not affect or render invalid or unenforceable the remainder of this Agreement and shall not affect the application of any clause, provision, or portion hereof
to other persons or circumstances. 
 22. Benefits. The provisions of this Agreement shall inure to the benefit of
Employer, its successors and assigns, and shall be binding upon Employer and Employee, its and his heirs, personal representatives and successors including without limitation Employee’s estate and the executors, administrators, or trustees of
such estate. 
 23. Relevant Law. To the extent not governed by the Federal laws of the United States of America, this
Agreement shall be construed and enforced in accordance with the laws of the State of California. Any dispute between the parties hereto not relating to the enforcement of Section 11 or Section 12 hereof shall be settled by arbitration in
California in accordance with the then applicable rules of the American Arbitration Association and judgment upon the award rendered may be entered in any court having jurisdiction thereof. 

24. Notices. All notices, requests, demands and other communications in connection with this Agreement shall be made in writing
and shall be deemed to have been given when delivered by hand or two of Employer’s business days after mailing at any general or branch United States Post Office, by registered or certified mail postage prepaid, addressed as follows, or to such
other address as shall have been designated in writing by the addressee: 
 If to Employer: 

Executive Chairman of the Board 
 First PacTrust Bancorp, Inc. 
 18500 Von Karman, Suite 1100

 Irvine, California 92612 

 If to Employee: 
 David R. Misch 
 13700 Marina Pointe Drive 

Unit 803 

Marina del Rey, CA 90292 
 25. Entire Agreement. This Agreement sets forth the entire understanding of the parties and supersedes all prior agreements, arrangements, and communications, whether oral or written, pertaining to
the subject matter hereof (including the employment agreement between Employee and The Private Bank of California, dated October 8, 2009), and this Agreement shall not be modified or amended except by written agreement of Employer and Employee.
The Private Bank of California shall be a third party beneficiary of this Agreement. 
 26. Captions. The headings and
captions hereof are for convenience only and shall not affect the construction of this Agreement. 
 27. Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which shall constitute but one and the same Agreement, which shall be sufficiently evidenced for all purposes by any one executed
counterpart. 
 28. Construction. Employer and the Employee acknowledge that this Agreement was the result of arms-length
negotiations between sophisticated parties each represented by legal counsel. Each and every provision of this Agreement shall be construed as though both parties participated equally in the drafting of same, and any rule of construction that a
document shall be construed against the drafting party shall not be applicable to this Agreement. 
 29. Survival. The
obligations contained in this Agreement shall survive the termination of Employee’s employment with Employer or expiration of this Agreement as necessary to carry out the intentions of the parties as described herein. 

[SIGNATURE PAGE FOLLOWS] 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first set
forth above. 
  

			
	Employee:
	
	 /s/ David R. Misch

	
	First PacTrust Bancorp, Inc.
		
	By:	 	/s/ Steven A. Sugarman
	Its:	 	Authorized Person
	
	Pacific Trust Bank
		
	By:	 	/s/ Steven A. Sugarman
	Its:	 	Authorized Person

 EXHIBIT A 
 FORM OF STOCK OPTION AGREEMENT 
 FIRST PACTRUST BANCORP, INC.

 2011 OMNIBUS INCENTIVE PLAN  
 NON-QUALIFIED STOCK OPTION AGREEMENT 
 NQSO
NO.             
 This Option is granted on [
            ], 2012 (the “Grant
Date”)1 by First PacTrust Bancorp, Inc., a Maryland
corporation (the “Corporation”), to David R. Misch (the “Optionee”), in accordance with the following terms and conditions: 
 1. Option Grant and Exercise Period. In accordance with Section 5(a) of the Employment Agreement by and among the Corporation, Pacific Trust Bank and the Optionee dated as of the date hereof
(the “Employment Agreement”), the Corporation hereby grants to the Optionee a Non-Qualified Stock Option (“Option”) to purchase, pursuant to the First PacTrust Bancorp, Inc. 2011 Omnibus Incentive Plan, as the same may be amended
from time to time (the “Plan”), and upon the terms and conditions therein and hereinafter set forth, an aggregate of 100,000 shares (the “Option Shares”) of the voting common stock of the Corporation (“Common Stock”) at
the price of $[         ] per share (the “Exercise Price”). A copy of the Plan, as currently in effect, is incorporated herein by reference and is attached to this Agreement. Capitalized terms
used herein which are not defined in this Agreement shall have the meanings ascribed to such terms in the Plan. 
 This Option
shall be exercisable only during the period (the “Exercise Period”) commencing on the date(s) set forth in Section 2 below, and ending at 5:00 p.m., Pacific time, on the date 10 years after the Grant Date, such later time and date
being hereinafter referred to as the “Expiration Date,” subject to earlier vesting and/or earlier expiration pursuant to Sections 5 and 7 below. 
 2. Method of Exercise of This Option. This Option may be exercised during the Exercise Period with respect to not more than the cumulative number of Option Shares set forth below on or after the
date(s) indicated, by giving written notice to the Corporation as hereinafter provided specifying the number of Option Shares to be purchased. 
  

			
	 Cumulative Number of Option

Shares Exercisable
	  	 Date

	33,333	  	First anniversary of Grant Date
	33,333	  	Second anniversary of Grant Date
	33,334	  	Third anniversary of Grant Date

 The notice of exercise of this Option shall be in the form prescribed by the Committee and directed to the address set
forth in Section 10 below. The date of exercise is the date on which such notice is received by the Corporation. Such notice shall be accompanied by payment in full of the aggregate Exercise Price for the Option Shares to be purchased upon such
exercise. Payment shall be made (i) in cash or its equivalent, (ii) by tendering previously acquired shares of Common Stock having an aggregate Fair Market Value at the time of exercise equal to the aggregate Exercise Price or
(iii) by a combination of (i) and (ii). In addition, the Corporation may establish a cashless exercise program in accordance with applicable laws and regulations. Promptly after such payment, subject to Section 3 below, the
Corporation shall issue and deliver to the Optionee or other person exercising this Option a certificate or certificates representing the shares of Common Stock so purchased, registered in the name of the Optionee (or such other person), or, upon
request, in the name of the Optionee (or such other person) and in the name of another in such form of joint ownership as requested by the Optionee (or such other person) pursuant to applicable state law. In lieu of issuing a certificate or
certificates representing the shares of Common Stock so purchased, the Corporation may cause such shares to be credited to a book entry account maintained by the Corporation (or its transfer agent or other designee) for the benefit of the Optionee
or other person exercising this Option, including any joint owner as provided in the immediately preceding sentence. 
  

	1 	Closing Date 

 3. Delivery and Registration of Shares of Common Stock. The Corporation’s
obligation to deliver shares of Common Stock hereunder shall, if the Committee so requests, be conditioned upon the receipt of a representation as to the investment intention of the Optionee or any other person to whom such shares are to be
delivered, in such form as the Committee shall determine to be necessary or advisable to comply with the provisions of the Securities Act of 1933, as amended (the “Securities Act”), or any other Federal, state or local securities law or
regulation. In requesting any such representation, it may be provided that such representation requirement shall become inoperative upon a registration of such shares or other action eliminating the necessity of such representation under the
Securities Act or other securities law or regulation. The Corporation shall not be required to deliver any shares upon exercise of this Option prior to (i) the admission of such shares to listing on any stock exchange or system on which the
shares of Common Stock may then be listed and (ii) the completion of such registration or other qualification of such shares under any state or Federal law, rule or regulation, as the Committee shall determine to be necessary or advisable.

 4. Nontransferability of This Option. This Option may not be sold, transferred, pledged assigned or otherwise
alienated or hypothecated, other than: (i) upon the Optionee’s death, to the person designated as the Optionee’s Beneficiary or, if no Beneficiary has been properly designated by the Optionee, by will or by the laws of descent and
distribution, (ii) pursuant to a Qualified Domestic Relations Order or (iii) by gift to any member of the Optionee’s immediate family or to a trust for the benefit of one or more of the Optionee’s immediate family members. During
the lifetime of the Optionee, this Option shall be exercisable only by the Optionee or a person acting with the legal authority of the Optionee unless it has been transferred as permitted hereby, in which case it shall be exercisable only by such
transferee. For the purpose of this Section 4, an Optionee’s “immediate family” shall mean the Optionee’s spouse, children and grandchildren. 
 In the event this Option is transferred as permitted by this Section 4, the person to whom this Option has been transferred may exercise this Option to the extent this Option would have been
exercisable by the Optionee if the Option were not so transferred. The provisions of this Option shall be binding upon, inure to the benefit of and be enforceable by the parties hereto, the successors and assigns of the Corporation and any person
acting with the legal authority of the Optionee or to whom this Option is transferred in accordance with this Section 4. 

5. Termination of Service; Expiration. The exercisability of this Option following a termination of the service of the Optionee
shall be as and to the extent provided in Sections 6.8 and 6.9 of the Plan, subject to acceleration of vesting under Section 10(b) of the Employment Agreement, if applicable under the circumstances of the termination of the Optionee’s
service. In no event shall this Option be exercisable following the Expiration Date. 
 6. Adjustments for Changes in
Capitalization of the Corporation. In the event of any merger, reorganization, consolidation, recapitalization, separation, liquidation, stock dividend, split-up, share combination or other change in the corporate structure of the Corporation
affecting the shares of the Corporation’s Common Stock, such adjustment shall be made in the number and class of shares covered by this Option and Exercise Price of this Option as shall be determined to be appropriate and equitable by the
Committee to prevent dilution or enlargement of rights; and provided that the number of shares subject to this Option shall always be a whole number. 
 7. Effect of Change in Control. If a Change in Control shall occur, this Option shall (to the extent it is not then so exercisable) become exercisable in full and remain so exercisable for the
remainder of its term, subject to Sections 6.8 and 6.9 of the Plan. Notwithstanding the foregoing this Option shall not become exercisable to the extent that it has previously been exercised or otherwise terminated. 

 8. Stockholder Rights Not Granted by This Option. The Optionee is not entitled by
virtue hereof to any rights of a stockholder of the Corporation or to notice of meetings of stockholders or to notice of any other proceedings of the Corporation. 
 9. Withholding Tax. The Corporation shall have the power and the right to deduct or withhold, or require the Optionee to remit to the Corporation, an amount sufficient to satisfy Federal, state and
local taxes (including the Optionee’s FICA obligation) required by law to be withheld with respect to this Option. 
 10.
Notices. All notices hereunder to the Corporation shall be delivered or mailed to it addressed to the Secretary of First PacTrust Bancorp, Inc., 18500 Von Karman Avenue, Suite 1100, Irvine, California 92612. Any notices hereunder to the
Optionee shall be delivered personally or mailed to the Optionee’s address noted below. Such addresses for the service of notices may be changed at any time provided written notice of the change is furnished in advance to the Corporation or to
the Optionee, as the case may be. 
 11. Plan and Plan Interpretations as Controlling. This Option and the terms and
conditions herein set forth are subject in all respects to the terms and conditions of the Plan, which are controlling. All determinations and interpretations made in the discretion of the Committee shall be final and conclusive upon the Optionee or
the Optionee’s legal representatives with regard to any question arising hereunder or under the Plan. 
 12. Optionee
Service. Nothing in this Agreement shall interfere with or limit in any way the right of the Corporation or any Subsidiary to terminate the Optionee’s employment or service at any time, nor confer upon the Optionee any right to continue in
the employ or service of the Corporation or any Subsidiary. 
 13. Optionee Acceptance. The Optionee shall signify his
acceptance of the terms and conditions of this Option by signing in the space provided below and returning a signed copy hereof to the Corporation at the address set forth in Section 10 above. 

[Signature page follows] 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
date first above written. 
  

			
	FIRST PACTRUST BANCORP, INC.
		
	By:	 	 
		
		 	ACCEPTED:
		
		 	 
		 	David R. Misch
		
		 	 
		 	(Street Address)
		
		 	 
		 	(City, State and Zip Code)

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