Document:

<PAGE>

                                                                   EXHIBIT 10.10

                                  MISSION BANK
                        INCENTIVE STOCK OPTION AGREEMENT

         This Incentive Stock Option Agreement (the "Agreement") is made and
entered into effective as of the 27th day of November, 2000, by and between
Mission Bank, a California corporation (the "Bank"), and Stanley Newman
("Optionee");

         WHEREAS, pursuant to the Mission Bank 1998 Stock Option Plan (the
"Plan"), a copy of which is attached hereto as Exhibit "A", the Board of
Directors of the Bank has authorized granting to Optionee, an incentive stock
option to purchase all or any part of one thousand (1,000) authorized but
unissued shares of the Bank's common stock for cash at the price of Fifteen
Dollars and Seventy Five Cents ($15.75) per share, such option to be for the
term and upon the terms and conditions hereinafter stated;

         NOW, THEREFORE, it is hereby agreed:

         1. GRANT OF OPTION. Pursuant to said action of the Board of Directors
and pursuant to authorizations granted by all appropriate regulatory and
governmental agencies, the Bank hereby grants to Optionee the option to
purchase, upon and subject to the terms and conditions of the Plan, which is
incorporated in full herein by this reference, all or any part of one thousand
(1,000) shares of the Bank's common stock (hereinafter called "Stock") at the
price of Fifteen Dollars and Seventy Five Cents ($15.75) per share, which price
is not less than one hundred percent (100%) of the fair market value of the
stock (or not less than ten (10%) of the fair market value for Optionee-
shareholders who own more than ten percent (10%) of the total combined voting
power of all classes of stock of the Bank) as of the date of action of the Board
of Directors, granting this option.

                                       1
<PAGE>

         2. EXERCISABILITY. This option shall be cumulatively exercisable as to
number of options granted herein and will vest in equal installments of two
hundred (200) every full year Optionee is an officer of the Bank, over a period
of five (5) years from the date of the grant. If Optionee ceases to be an
officer of the Bank, the option granted hereunder shall no longer accrue.

         This option shall remain exercisable as to the Stock until November 27,
2010, (but not later than ten (10) years from the date this option is granted)
unless this option has expired or terminated earlier in accordance with the
provisions hereof. Stock as to which this option becomes exercisable pursuant to
the foregoing provision may be purchased at any time prior to expiration of this
option.

         3. EXERCISE OF OPTION. This option may be exercised by written notice
delivered to the Bank stating the number of shares with respect to which this
option is being exercised, together with cash in the amount of the purchase
price of such shares. Not less than one (1) share may be purchased at any one
time, and in no event may the option be exercised with respect to fractional
shares. Upon exercise, Optionee shall make appropriate arrangements and shall be
responsible for the withholding of any federal and state taxes then due.

         4. NONTRANSFERABILITY; DEATH OR DISABILITY OF OPTIONEE. This option
shall not be transferable except by will or by the applicable laws of descent
and distribution and shall be exercisable during Optionee's lifetime only by
Optionee. If Optionee dies while serving as an officer of the Bank or a
subsidiary corporation, or during the three (3) month period referred to in
Paragraph 4 hereof, this option shall expire one (1) year after the date of
Optionee's death or on the day specified in Paragraph 2 hereof, whichever is
earlier. After Optionee's death but before such expiration, the persons to whom
Optionee's rights under this option shall have passed by will or by the
applicable laws of descent and distribution or

                                       2
<PAGE>

the executor or administrator of Optionee's estate shall have the right to
exercise this option as to those shares for which installments had accrued under
Paragraph 2 hereof as of the date on which Optionee ceased to be an employee of
the Bank or a subsidiary corporation.

         If Optionee terminates his or her relationship with the Bank because of
disability, Optionee may exercise this option to the extent he or she is
entitled to do so at the date of termination, at any time within one (1) year of
the date of termination, or before the expiration date specified in Paragraph 2
hereof, whichever is earlier.

         5. PRIVILEGES OF STOCK OWNERSHIP. Optionee shall have no rights as a
shareholder with respect to the Bank's stock subject to this option until the
date of issuance of stock certificates to Optionee. Except as provided in the
Plan, no adjustment will be made for dividends or other rights for which the
record date is prior to the date such stock certificates are issued.

         6. MODIFICATION AND TERMINATION. The rights of Optionee are subject to
modification and termination upon the occurrence of certain events as provided
in Sections 13 and 14 of the Plan.

         7. NOTIFICATION OF SALE. Optionee agrees that Optionee, or any person
acquiring shares upon exercise of this option, will notify the Bank not more
than five (5) days after any sale or other disposition of such shares. No shares
issuable upon the exercise of this option shall be issued and delivered unless
and until the Bank has fully complied with all applicable requirements of any
regulatory agency having jurisdiction over the Bank, and all applicable
requirements of any exchange upon which stock of the Bank may be listed.

         11. NOTICES. Any notice to the Bank provided for in this Agreement
shall be addressed to it in care of its President at its main office and any
notice to Optionee shall be addressed to Optionee's

                                       3
<PAGE>

address on file with the Bank or a subsidiary corporation, or to such other
address as either may designate to the other in writing. Any notice shall be
deemed to be duly given if and when enclosed in a properly sealed envelope and
addressed as stated above and deposited, postage prepaid, with the United States
Postal Service. In lieu of giving notice by mail as aforesaid, any written
notice under this Agreement may be given to Optionee in person, and to the Bank
by personal delivery to its President.

         12. INCENTIVE STOCK OPTION. This Agreement is intended to be an
incentive stock option agreement as defined in Section 422 of the Code.

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

OPTIONEE                                          MISSION BANK

By  /s/ Leo Pierucci                              By  /s/ RE Fanucchi
    --------------------------                        --------------------------
        LEO PIERUCCI                                      RICHARD E. FANUCCHI,
                                                          President

                                       4<PAGE>
                                                                     Exhibit 4.1

Number

 WW

[CORPORATE SEAL]

American Bank Note Company

<TABLE>
<S>                              <C>                        <C>
CLASS A COMMON STOCK             [GRAPHIC]                  CLASS A COMMON STOCK
Organized under the laws
of the State of Connecticut                                 PAR VALUE $ .01

                                                            Shares

This Certificate is transferable in                         See reverse for certain definitions
Canton, MA, Jersey City, NJ
or New York, NY
</TABLE>

                        TRAVELERS PROPERTY CASUALTY CORP.

THIS CERTIFIES THAT                                            CUSIP 89420G 10 9

IS THE OWNER OF

         FULLY PAID AND NONASSESSABLE SHARES OF CLASS A COMMON STOCK OF

Travelers Property Casualty Corp.,transferable on the books of the Company by
the holder hereof in person or by duly authorized attorney upon surrender of
this Certificate properly endorsed. This Certificate and the shares represented
hereby are issued and shall be held subject to all the provisions of the
Certificate of Incorporation, as amended, and of the Bylaws, as amended, copies
of which are on file in the office of the Transfer Agent, to all of which the
holder by acceptance hereof assents. This Certificate is not valid until
countersigned by the Transfer Agent and registered by the Registrar.

Witness the facsimile seal of the Company and the facsimile signatures of its
duly authorized officers.

CERTIFICATE OF STOCK

 COUNTERSIGNED AND REGISTERED:                        Dated:

EQUISERVE TRUST COMPANY, N.A.

                                 TRANSFER AGENT AND
BY                               REGISTRAR

/s/ Stephen Cesso
                                 AUTHORIZED OFFICER

/s/ James M. Michener

Secretary

/s/ Robert I. Lipp

Chairman of the Board
<PAGE>
                        TRAVELERS PROPERTY CASUALTY CORP.

                  THE COMPANY WILL FURNISH TO ANY SHAREHOLDER ON REQUEST IN
         WRITING AND WITHOUT CHARGE THE DESIGNATIONS, RELATIVE RIGHTS,
         PREFERENCES AND LIMITATIONS APPLICABLE TO EACH CLASS OF ITS SHARES AND
         THE VARIATIONS IN RIGHTS, PREFERENCES AND LIMITATIONS DETERMINED FOR
         EACH SERIES. THE BOARD OF DIRECTORS OF THE COMPANY HAS THE AUTHORITY TO
         DETERMINE VARIATIONS IN THE DESIGNATIONS, RELATIVE RIGHTS, PREFERENCES
         AND LIMITATIONS FOR ONE OR MORE SERIES OF PREFERRED STOCK BEFORE THE
         ISSUANCE OF ANY SHARES OF THAT SERIES.

                  This certificate also evidences and entitles the holder hereof
         to certain Class A Rights as set forth in the Rights Agreement (the
         "Rights Agreement"), between Travelers Property Casualty Corp. (the
         "Company") and EquiServe Trust Company, N.A. (the "Rights Agent"), the
         terms of which are hereby incorporated herein by reference and a copy
         of which is on file at the principal offices of the Company. Under
         certain circumstances, as set forth in the Rights Agreement, such Class
         A Rights will be evidenced by separate certificates and will no longer
         be evidenced by this certificate. The Company will mail to the holder
         of this certificate a copy of the Rights Agreement, as in effect on the
         date of mailing, without charge, promptly after receipt of a written
         request therefore. Under certain circumstances set forth in the Rights
         Agreement, Class A Rights issued to, or held by, any Person who is, was
         or becomes an Acquiring Person or any Affiliate or Associate thereof
         (as such terms are defined in the Rights Agreement), whether currently
         held by or on behalf of such Person or by any subsequent holder, may
         become null and void.

                  Keep this certificate in a safe place. If it is lost, stolen
         or destroyed the Company will require a bond of indemnity as a
         condition to the issuance of a replacement certificate.

The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM           - as tenants in common

TEN ENT           - as tenants by the entireties
JT TEN            - as joint tenants with right of survivorship
                    and not as tenants in common

UNIF GIFT MIN ACT - . . . . . . . .Custodian . . . . . . . .
                       (Cust)                      (Minor)

              under Uniform Gifts to Minors
              Act .  .  . .  .  .  .  .  .  .  .  .  .  .  .
                       (State)

Additional abbreviations may also be used though not in the above list.

             FOR VALUE RECEIVED
             THE UNDERSIGNED
             HEREBY SELL, ASSIGN
             AND TRANSFER UNTO

             -------------------------------------------------------------------
             Please print or typewrite name and address including
             postal zip code of assignee

             -------------------------------------------------------------------

             -------------------------------------------------------------------

             -------------------------------------------------------------------

             -------------------------------------------------------------------
             Please insert social security or other identifying number of
             assignee

                                                                          SHARES
             -------------------------------------------------------------------
             OF THE CAPITAL STOCK
             REPRESENTED BY THE WITHIN
             CERTIFICATE, AND DO HEREBY
             IRREVOCABLY CONSTITUTE
             AND APPOINT
                                                                        ATTORNEY
             -------------------------------------------------------------------
             TO TRANSFER THE SAID STOCK ON THE BOOKS OF THE WITHIN NAMED COMPANY
             WITH FULL POWER OF SUBSTITUTION IN THE PREMISES.

             Dated
             -------------------------------------------------------------------

             X
             -------------------------------------------------------------------
             Notice:  The signature to this assignment must correspond with the
             name as written upon the face of the certificate in every
             particular without alteration or enlargement, or any change
             whatever.

SIGNATURE(S) GUARANTEED:
                         -------------------------------------------------------
                         THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE
                         GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND
                         LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN
                         AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM),
                         PURSUANT TO S.E.C. RULE 17Ad-15.

<TABLE>
<S>                                                                              <C>
                           AMERICAN BANK NOTE COMPANY                            PRODUCTION COORDINATOR: SUE MCNAMEE: 215-764-8613
                             55TH AND SANSOM STREET                                            PROOF OF MARCH 15, 2002
                             PHILADELPHIA, PA 19139                                       TRAVELERS PROPERTY CASUALTY CORP.
                                 (215) 764-8600                                                      H 72235 BK
          SALES: D. BURNS/ R. JOHNS: 617-786-7600 / 212-269-0339 X-13                         OPERATOR:          JW/EG
                      /HOME 23/LIVE JOBS/T/TRAVELERS 72235                                             REV. 3
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00035-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00035-of-00352.parquet"}]]