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EXHIBIT 10.1

FCB BANCORP

2005 STOCK OPTION PLAN

Adopted May 19, 2005

     1. Purpose

     The purpose of the FCB Bancorp 2005 Stock Option Plan (the “Plan”) is to strengthen FCB
Bancorp (the “Company”) and those banks and corporations which are or hereafter become subsidiary
corporations (the “Subsidiary” or “Subsidiaries”) by providing additional means of attracting and
retaining competent managerial personnel and by providing to participating directors, officers and
key employees added incentive for high levels of performance and for unusual efforts to increase
the earnings of the Company and any Subsidiaries. The Plan seeks to accomplish these purposes and
achieve these results by providing a means whereby such directors, officers and key employees may
purchase shares of the Common Stock of the Company pursuant to Stock Options granted in accordance
with this Plan.

     Stock Options granted pursuant to this Plan are intended to be Incentive Stock Options or
Non-Qualified Stock Options, as shall be determined and designated by the Stock Option Committee
upon the grant of each Stock Option hereunder.

     2. Definitions

     For the purposes of this Plan, the following terms shall have the following meanings:

     (a) “Common Stock.” This term shall mean shares of the Company’s common stock,
subject to adjustment pursuant to Section 15 (Adjustment Upon Changes in Capitalization)
hereunder.

     (b)
“Company.” This term shall mean FCB Bancorp, a
California corporation.

     (c) “Eligible Participants.” This term shall mean: (i) all directors of the
Company or any Subsidiary; (ii) all officers (whether or not they are also directors) of the
Company or any Subsidiary; and (iii) all key employees (as such persons may be determined by
the Stock Option Committee from time to time) of the Company or any Subsidiary, provided
that such officers and key employees have a customary work week of at least forty hours in
the employ of the Company or a Subsidiary.

     (d) “Fair Market Value.” This term shall mean the fair market value of the
Common Stock as determined in accordance with any reasonable valuation method selected by
the Stock Option Committee, including the valuation methods described in Treasury
Regulations Section 20.2031-2.

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     (e) “Incentive Stock Option.” This term shall mean a Stock Option which is an
“incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of
1986, as amended.

     (f) “Non-Qualified Stock Option.” This term shall mean a Stock Option which is
not an Incentive Stock Option.

     (g) “Option Shares.” This term shall mean Common Stock covered by and subject
to any outstanding unexercised Stock Option granted pursuant to this Plan.

     (h) “Optionee.” This term shall mean any Eligible Participant to whom a Stock
Option has been granted pursuant to this Plan, provided that at least part of the Stock
Option is outstanding and unexercised.

     (i) “Plan.” This term shall mean the FCB Bancorp 2005 Stock Option Plan as
embodied herein and as may be amended from time to time in accordance with the terms hereof
and applicable law.

     (j) “Stock Option.” This term shall mean the right to purchase Common Stock
under this Plan in a specified number of shares, at a price and upon the terms and
conditions determined by the Stock Option Committee.

     (k) “Stock Option Committee.” The Board of Directors of the Company may select
and designate a Stock Option Committee consisting of three or more directors of the Company,
having full authority to act in the matter. Regardless of whether a Stock Option Committee
is selected, the Board of Directors of the Company may act as the Stock Option Committee and
any action taken by said Board as such shall be deemed to be action taken by the Stock
Option Committee. All references in the Plan to the “Stock Option Committee” shall be
deemed to refer to the Board of Directors of the Company acting as the Stock Option
Committee and to a duly appointed Stock Option Committee, if there be one. In the event of
any conflict between action taken by the Board acting as a Stock Option Committee and action
taken by a duly appointed Stock Option Committee, the action taken by the Board shall be
controlling and the action taken by the duly appointed Stock Option Committee shall be
disregarded.

     (l) “Subsidiary.” This term shall mean each “subsidiary corporation” (treating
the Company as the employer corporation) as defined in Section 424(f) of the Internal
Revenue Code of 1986, as amended.

3. Administration

     (a) Stock Option Committee. This Plan shall be administered by the Stock
Option Committee. The Board of Directors of the Company shall have the right, in its sole
and absolute discretion, to remove or replace any person from or on the Stock Option
Committee at any time for any reason whatsoever.

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     (b) Administration of the Plan. Any action of the Stock Option Committee with
respect to the administration of the Plan shall be taken pursuant to a majority vote, or
pursuant to the unanimous written consent, of its members. Any such action taken by the
Stock Option Committee in the administration of this Plan shall be valid and binding, so
long as the same is not inconsistent with the terms and conditions of this Plan. Subject to
compliance with the terms, conditions and restrictions set forth in this Plan, the Stock
Option Committee shall have the exclusive right, in its sole and absolute discretion
(consistent, nevertheless, in the case of Incentive Stock Options, with all rules
established by the Internal Revenue Code of 1986, as amended, and the regulations
promulgated pursuant thereto applicable to incentive stock options), to establish the terms
and conditions of all Stock Options granted under the Plan, including, without meaning any
limitation, the power to: (i) establish the number of Stock Options, if any, to be granted
hereunder, in the aggregate and with regard to each Eligible Participant; (ii) determine the
time or times when such Stock Options, or parts thereof, may be exercised; (iii) determine
and designate which Stock Options granted under the Plan shall be Incentive Stock Options
and which shall be Non-Qualified Stock Options; (iv) determine the Eligible Participants, if
any, to whom Stock Options are granted; (v) determine the duration and purposes, if any, of
leaves of absence which may be permitted to holders of unexercised, unexpired Stock Options
without such constituting a termination of employment under the Plan; and (vi) prescribe and
amend the terms, provisions and form of each instrument and agreement setting forth the
terms and conditions of every Stock Option granted hereunder.

     (c) Decisions and Determinations. Subject to the express provisions of the
Plan, the Stock Option Committee shall have the authority to construe and interpret this
Plan, to define the terms used herein, to prescribe, amend, and rescind rules and
regulations relating to the administration of the Plan, and to make all other determinations
necessary or advisable for administration of the Plan. Determinations of the Stock Option
Committee on matters referred to in this Section 3 shall be final and conclusive so long as
the same are not inconsistent with the terms of this Plan.

     4. Shares Subject to the Plan

     Subject to adjustments as provided in Section 15 hereof, the maximum number of shares of
Common Stock which may be issued upon exercise of all Stock Options granted under this Plan is
limited to Two Hundred Thousand (200,000) in the aggregate. If any Stock Option shall be canceled,
surrendered, or expire for any reason without having been exercised in full, the unpurchased Option
Shares represented thereby shall again be available for grants of Stock Options under this Plan.

     5. Eligibility

     Only Eligible Participants shall be eligible to receive grants of Stock Options under this
Plan.

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     6. Grants of Stock Options

     (a) Grant. Subject to the express provisions of the Plan, the Stock Option
Committee, in its sole and absolute discretion, may grant Stock Options:

     (i) In the case of grants to Eligible Participants who are officers or key
employees of the Company or any Subsidiary, for a number of Option Shares, at the
price(s) and time(s), and on the terms and conditions as it deems advisable and
specifies in the respective grants; and

     (ii) In the case of grants to Eligible Participants who are directors and who
are not officers or key employees of the Company or any Subsidiary, for a number of
Option Shares, at the price(s) and time(s), and on the terms and conditions as it
deems advisable and specifies in the respective grants; provided, that such grants
may not exceed a maximum of
                          
(                  ) Option Shares to all
directors who are not officers or key employees of the Company or any
Subsidiary. The foregoing maximum numbers of Option Shares which may be granted to
all directors of the Company at any time shall be adjusted in accordance with the
provisions of Section 15 hereof.

     The terms upon which and the times at which, or the periods within which, the Option Shares
subject to such Stock Options may become acquired or such Stock Options may be acquired and
exercised shall be as set forth in the Plan and the related Stock Option Agreements.

     Subject to the limitations and restrictions set forth in the Plan, an Eligible Participant who
has been granted a Stock Option may, if otherwise eligible, be granted additional Stock Options if
the Stock Option Committee shall so determine. The Stock Option Committee shall designate in each
grant of a Stock Option whether the Stock Option is an Incentive Stock Option or a Non-Qualified
Stock Option.

     (b) Date of Grant and Rights of Optionee. The determination of the Stock
Option Committee to grant a Stock Option shall not in any way constitute or be deemed to
constitute an obligation of the Company, or a right of the Eligible Participant who is the
proposed subject of the grant, and shall not constitute or be deemed to constitute the grant
of a Stock Option hereunder unless and until both the Company and the Eligible Participant
have executed and delivered to the other a Stock Option Agreement in the form then required
by the Stock Option Committee as evidencing the grant of the Stock Option, together with
such other instrument or instruments as may be required by the Stock Option Committee
pursuant to this Plan; provided, however, that the Stock Option Committee may fix the date
of grant as any date on or after the date of its final determination to grant the Stock
Option (or if no such date is fixed, then the date of grant shall be the date on which the
determination was finally made by the Stock Option Committee to grant the Stock Option), and
such date shall be set forth in the Stock

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Option Agreement. The date of grant as so determined shall be deemed the date of grant
of the Stock Option for purposes of this Plan.

     (c) Shareholder-Employees. A Stock Option granted hereunder to an Eligible
Participant who is also an officer or key employee of the Company or any Subsidiary, who
owns, directly or indirectly, at the date of the grant of the Stock Option, more than ten
percent (10%) of the total combined voting power of all classes of capital stock of the
Company or a Subsidiary (if permitted in accordance with the provisions of Section 5 herein)
shall not qualify as an Incentive Stock Option unless: (i) the purchase price of the Option
Shares subject to said Stock Option is at least one hundred and ten percent (110%) of the
Fair Market Value of the Option Shares, determined as of the date said Stock Option is
granted; and (ii) the Stock Option by its terms is not exercisable after five (5) years from
the date that it is granted. The attribution rules of Section 424(d) of the Internal
Revenue Code of 1986, as amended, shall apply in the determination of indirect ownership of
stock.

     (d) Maximum Value of Stock Options. No grant of Incentive Stock Options
hereunder may be made when the aggregate Fair Market Value of Option Shares with respect to
which Incentive Stock Options (pursuant to this Plan or any other Incentive Stock Option
Plan of the Company or any Subsidiary) are exercisable for the first time by the Eligible
Participant during any calendar year exceeds $100,000.

     (e) Substituted Stock Options. If all of the outstanding shares of common
stock of another corporation are changed into or exchanged solely for Common Stock in a
transaction to which Section 424(a) of the Internal Revenue Code of 1986, as amended,
applies, then, subject to the approval of the Board of Directors of the Company, Stock
Options under the Plan may be substituted (“Substituted Options”) in exchange for valid,
unexercised and unexpired stock options of such other corporation. Substituted Options
shall qualify as Incentive Stock Options under the Plan, provided that (and to the extent)
the stock options exchanged for the Substituted Options were Incentive Stock Options within
the meaning of Section 422 of the Internal Revenue Code of 1986, as amended.

     (f) Non-Qualified Stock Options. Stock Options and Substituted Options granted
by the Stock Option Committee shall be deemed Non-Qualified Stock Options under this Plan if
they: (i) are designated at the time of grant as Incentive Stock Options but do not so
qualify under the provisions of Section 422 of the Code or any regulations or rulings issued
by the Internal Revenue Service for any reason; (ii) are not granted in accordance with the
provisions of Section 6(c); (iii) are in excess of the fair market value limitations set
forth in Section 6(d); (iv) are granted to an Eligible Participant who is not an officer or
key employee of the Company or any Subsidiary; or (v) are designated at the time of grant as
Non-Qualified Stock Options. Non-Qualified Stock Options granted or substituted hereunder
shall be so designated in the Stock Option Agreement entered into between the Company and
the Optionee.

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     7. Stock Option Exercise Price

     (a) Minimum Price. The exercise price of any Option Shares shall be determined
by the Stock Option Committee, in its sole and absolute discretion, upon the grant of a
Stock Option. Except as provided elsewhere herein, said exercise price shall not be less
than one hundred percent (100%) of the Fair Market Value of the Common Stock represented by
the Option Shares on the date of grant of the related Stock Option.

     (b) Substituted Options. The exercise price of the Option Shares subject to
each Substituted Option may be fixed at a price less than one hundred percent (100%) of the
Fair Market Value of the Common Stock at the time such Substituted Option is granted if said
exercise price has been computed to be not less than the exercise price set forth in the
stock option of the other corporation for which it was exchanged immediately before
substitution, with appropriate adjustment to reflect the exchange ratio of the shares of
stock of the other corporation into the shares of Common Stock.

     8. Exercise of Stock Options

     (a) Exercise. Except as otherwise provided elsewhere herein, each Stock Option
shall be exercisable in such increments, which need not be equal, and upon such
contingencies as the Stock Option Committee shall determine at the time of grant of the
Stock Option; provided, however, that if an Optionee shall not in any given period exercise
any part of a Stock Option which has become exercisable during that period, the Optionee’s
right to exercise such part of the Stock Option shall continue until expiration of the Stock
Option or any part thereof as may be provided in the related Stock Option Agreement. No
Stock Option or part thereof shall be exercisable except with respect to whole shares of
Common Stock, and fractional share interests shall be disregarded except that they may be
accumulated.

     (b) Prior Outstanding Incentive Stock Options. Incentive Stock Options granted
(or substituted) to an Optionee under the Plan may be exercisable while such Optionee has
outstanding and unexercised any Incentive Stock Option previously granted (or substituted)
to him or her pursuant to this Plan or any other Incentive Stock Option Plan of the Company
or any Subsidiary. An Incentive Stock Option shall be treated as outstanding until it is
exercised in full or expires by reason of lapse of time.

     (c) Notice and Payment. Stock Options granted hereunder shall be exercised by
written notice delivered to the Company specifying the number of Option Shares with respect
to which the Stock Option is being exercised, together with concurrent payment in full of
the exercise price as hereinafter provided. If the Stock Option is being exercised by any
person or persons other than the Optionee, said notice shall be accompanied by proof,
satisfactory to the counsel for the Company, of the right of such person or persons to
exercise the Stock Option. The Company’s receipt of a notice of exercise without concurrent
receipt of the full amount of the exercise price shall not be deemed an exercise of a Stock
Option by an Optionee, and the Company shall have no

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obligation to an Optionee for any Option Shares unless and until full payment of the
exercise price is received by the Company and all of the terms and provisions of the Plan
and the related Stock Option agreement have been fully complied with.

     (d) Payment of Exercise Price. The exercise price of any Option Shares
purchased upon the proper exercise of a Stock Option shall be paid in full at the time of
each exercise of a Stock Option in cash (or bank, cashier’s or certified check). Payment by
an Optionee as provided herein shall be made in full concurrently with the Optionee’s
notification to the Company of his intention to exercise all or part of a Stock Option.

     (e) Minimum Exercise. Not less than ten (10) Option Shares may be purchased at
any one time upon exercise of a Stock Option unless the number of shares purchased is the
total number which remains to be purchased under the Stock Option.

     (f) Compliance With Law. No shares of Common Stock shall be issued upon
exercise of any Stock Option, and an Optionee shall have no right or claim to such shares,
unless and until: (i) payment in full as provided hereinabove has been received by the
Company; (ii) in the opinion of the counsel for the Company, all applicable requirements of
law and of regulatory bodies having jurisdiction over such issuance and delivery have been
fully complied with; and (iii) if required by federal or state law or regulation, the
Optionee shall have paid to the Company the amount, if any, required to be withheld on the
amount deemed to be compensation to the Optionee as a result of the exercise of his or her
Stock Option, or made other arrangements satisfactory to the Company, in its sole
discretion, to satisfy applicable income tax withholding requirements.

     (g) Reorganization. Notwithstanding any provision in any Stock Option
Agreement pertaining to the time of exercise of a Stock Option, or part thereof, upon
adoption by the requisite holders of the outstanding shares of Common Stock of any plan of
dissolution, liquidation, reorganization, merger, consolidation or sale of all or
substantially all of the assets of the Company to another corporation which would, upon
consummation, result in termination of a Stock Option in accordance with Section 16 hereof,
all Stock Options previously granted shall become immediately exercisable, whether or not
vested under the Plan or Agreement, as to all unexercised Option Shares for such period of
time as may be determined by the Stock Option Committee, but in any event not less than 30
days, on the condition that the terminating event described in Section 16 hereof is
consummated. If such terminating event is not consummated or if the surviving entity
(successor entity) assumes such obligation or gives appropriate substitution thereof, Stock
Options granted pursuant to the Plan shall be exercisable in accordance with the terms of
their respective Stock Option Agreements.

     9. Nontransferability of Stock Options

     Each Stock Option shall, by its terms, be non- transferable by the Optionee other than by will
or the laws of descent and distribution, and shall be exercisable during the Optionee’s lifetime
only by the Optionee.

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     10. Continuation of Affiliation

     Nothing contained in this Plan (or in any Stock Option Agreement) shall obligate the Company
or any Subsidiary to employ or continue to employ or remain affiliated with any Optionee or any
Eligible Participant for any period of time or interfere in any way with the right of the Company
or a Subsidiary to reduce or increase the Optionee’s or Eligible Participant’s compensation.

     11. Cessation of Affiliation

     Except as provided in Section 12 hereof, if, for any reason other than disability or death, an
Optionee ceases to be affiliated with the Company or a Subsidiary, the Stock Options granted to
such Optionee shall expire on the expiration dates specified for said Stock Options at the time of
their grant, or ninety (90) days after the Optionee ceases to be so affiliated, whichever is
earlier. During such period after cessation of affiliation, such Stock Options shall be
exercisable only as to those increments, if any, which had become exercisable as of the date on
which such Optionee ceased to be affiliated with the Company or the Subsidiary, and any Stock
Options or increments which had not become exercisable as of such date shall expire automatically
on such date.

     In the case of Incentive Stock Options, the employment affiliation will be treated as
continuing intact while an Optionee is on military, sick leave or other bonafide leave of absence
(such as temporary employment by the government) if the period of such leave does not exceed 90
days, or, if longer, so long as the Optionee’s right to re-employment with the Company or a
Subsidiary (or the surviving (or successor) entity which has assumed the obligation or substituted
options as provided in Section 8(g) hereof) is guaranteed either by statute or by contract. Where
the period of leave exceeds 90 days and the Optionee’s re-employment is not guaranteed by either
statute or contract, the Optionee will be deemed to have ceased to be affiliated on the 91st day of
such leave.

     12. Termination for Cause

     If the Stock Option Agreement so provides and if an Optionee’s employment by or affiliation
with the Company or a Subsidiary is terminated for cause, the Stock Options granted to such
Optionee shall automatically expire and terminate in their entirety immediately upon such
termination; provided, however, that the Stock Option Committee may, in its sole discretion, within
thirty (30) days of such termination, reinstate such Stock Options by giving written notice of such
reinstatement to the Optionee. In the event of such reinstatement, the Optionee may exercise the
Stock Options only to such extent, for such time, and upon such terms and conditions as if the
Optionee had ceased to be employed by or affiliated with the Company or a Subsidiary upon the date
of such termination for a reason other than cause, disability or death. Termination for cause
shall include, but shall not be limited to, termination for malfeasance or gross misfeasance in the
performance of duties or conviction of illegal activity in connection therewith and, in any event,
the determination of the Stock Option Committee with
respect thereto shall be final and conclusive.

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     13. Death of Optionee

     If an Optionee dies while employed by or affiliated with the Company or a Subsidiary, or
during the ninety-day period referred to in Section 11 hereof, the Stock Options granted to such
Optionee shall expire on the expiration dates specified for said Stock Options at the time of their
grant, or one (1) year after the date of such death, whichever is earlier. After such death, but
before such expiration, subject to the terms and provisions of the Plan and the related Stock
Option Agreements, the person or persons to whom such Optionee’s rights under the Stock Options
shall have passed by will or by the applicable laws of descent and distribution, or the executor or
administrator of the Optionee’s estate, shall have the right to exercise such Stock Options to the
extent that increments, if any, had become exercisable as of the date on which the Optionee died.

     14. Disability of Optionee

     If an Optionee is disabled while employed by or affiliated with the Company or a Subsidiary or
during the three-month period referred to in Section 11 hereof, the Stock Options granted to such
Optionee shall expire on the expiration dates specified for said Stock Options at the time of their
grant, or one (1) year after the date such disability occurred, whichever is earlier. After such
disability occurs, but before such expiration, the Optionee or the guardian or conservator of the
Optionee’s estate, as duly appointed by a court of competent jurisdiction, shall have the right to
exercise such Stock Options to the extent that increments, if any, had become exercisable as of the
date on which the Optionee became disabled or ceased to be employed by or affiliated with the
Company or a Subsidiary as a result of the disability. An Optionee shall be deemed to be
“disabled” if it shall appear to the Stock Option Committee, upon written certification delivered
to the Company of a qualified licensed physician, that the Optionee has become permanently and
totally unable to engage in any substantial gainful activity by reason of a medically determinable
physical or mental impairment which can be expected to result in the Optionee’s death, or which has
lasted or can be expected to last for a continuous period of not less than 12 months.

     15. Adjustment Upon Changes in Capitalization

     If the outstanding shares of Common Stock of the Company are increased, decreased, or changed
into or exchanged for a different number or kind of shares or securities of the Company, through a
reorganization, merger, recapitalization, reclassification, stock split, stock dividend, stock
consolidation, or otherwise, without consideration to the Company, an appropriate and proportionate
adjustment shall be made in the number and kind of shares as to which Stock Options may be granted.
A corresponding adjustment changing the number or kind of Option Shares and the exercise prices per
share allocated to unexercised Stock Options, or portions thereof, which shall have been granted
prior to any such change, shall likewise be made. Such adjustments shall be made without change in
the total price applicable to the unexercised portion of the Stock Option, but with a corresponding
adjustment in the price for each Option Share

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subject to the Stock Option. Adjustments under this Section shall be made by the Stock Option
Committee, whose determination as to what adjustments shall be made, and the extent thereof, shall
be final and conclusive. No fractional shares of stock shall be issued or made available under the
Plan on account of such adjustments, and fractional share interests shall be disregarded, except
that they may be accumulated.

     16. Terminating Events

     Upon consummation of a plan of dissolution or liquidation of the Company, or upon consummation
of a plan of reorganization, merger or consolidation of the Company with one or more corporations
as a result of which the Company is not the surviving entity, or upon the sale of all or
substantially all the assets of the Company to another corporation, the Plan shall automatically
terminate and all Stock Options theretofore granted shall be terminated, unless provision is made
in connection with such transaction for assumption of Stock Options theretofore granted (in which
case such Stock Options shall be converted into Stock Options for a like number and kind for shares
of the surviving entity), or substitution for such Stock Options with new stock options covering
stock of a successor employer corporation, or a parent or subsidiary corporation thereof, solely at
the discretion of such successor corporation, or parent or subsidiary corporation, with appropriate
adjustments as to number and kind of shares and prices.

     17. Amendment and Termination

     The Board of Directors of the Company may at any time and from time to time suspend, amend, or
terminate the Plan, with the consent of an
Optionee, make such modifications of the terms and conditions of that Optionee’s Stock Option as it
shall deem advisable; provided that, except as permitted under the provisions of Section 15 hereof,
no amendment or modification may be adopted without the Company having first obtained the approval
of the holders of a majority of the Company’s outstanding shares of Common Stock present, or
represented, and entitled to vote at a duly held meeting of shareholders of the Company, or by
written consent, if the amendment or modification would:

     (a) materially increase the number of securities which may be issued under the Plan;

     (b) materially increase the number of securities which may be issued at any time under
the Plan to all directors who are not also officers or key employees of the Company or any
Subsidiary;

     (c) materially modify the requirements as to eligibility for participation in the Plan;

     (d) increase or decrease the exercise price of any Stock Option granted under the Plan;

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     (e) increase the maximum term of Stock Options provided for herein;

     (f) permit Stock Options to be granted to any person who is not an Eligible
Participant; or

     (g) change any provision of the Plan which would affect the qualification as an
Incentive Stock Option under the internal revenue laws then applicable of any Stock Option
granted as an Incentive Stock Option under the Plan.

     No Stock Option may be granted during any suspension of the Plan or after termination of the
Plan. Amendment, suspension, or termination of the Plan shall not (except as otherwise provided
in Section 15 hereof), without the consent of the Optionee, alter or impair any rights or
obligations under any Stock Option theretofore granted.

     18. Rights of Eligible Participants and Optionees

     No Eligible Participant, Optionee or other person shall have any claim or right to be granted
a Stock Option under this Plan, and neither this Plan nor any action taken hereunder shall be
deemed to give or be construed as giving any Eligible Participant, Optionee or other person any
right to be retained in the employ of the Company or any Subsidiary. Without limiting the
generality of the foregoing, no person shall have any rights as a result of his or her
classification as an Eligible Participant or Optionee, such classifications being made solely to
describe, define and limit those persons who are eligible for consideration for privileges under
the Plan.

     19. Privileges of Stock Ownership; Regulatory Law Compliance; Notice of Sale

     No Optionee shall be entitled to the privileges of stock ownership as to any Option Shares not
actually issued and delivered. No Option Shares may be purchased upon the exercise of a Stock
Option unless and until all then applicable requirements of all regulatory agencies having
jurisdiction and all applicable requirements of the securities exchanges upon which securities of
the Company are listed (if any) shall have been fully complied with. The Optionee shall, not more
than five (5) days after each sale or other disposition of shares of Common Stock acquired pursuant
to the exercise of Stock Options, give the Company notice in writing of such sale or other
disposition.

     20. Effective Date of the Plan

     The Plan shall be deemed adopted as of May 19, 2005, the date the Board of Directors of
Company duly adopted the Plan and shall be effective immediately, subject to approval of the Plan
by the holders of at least a majority of the Company’s outstanding shares of Common Stock.

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     21. Termination

     Unless previously terminated as aforesaid, the Plan shall terminate on May 19, 2015. No Stock
Options shall be granted under the Plan thereafter, but such termination shall not affect any Stock
Option theretofore granted.

     22. Option Agreement

     Each Stock Option granted under the Plan shall be evidenced by a written Stock Option
Agreement executed by the Company and the Optionee, and shall contain each of the provisions and
agreements herein specifically required to be contained therein, and such other terms and
conditions as are deemed desirable by the Stock Option Committee and are not inconsistent with this
Plan.

     23. Stock Option Period

     Each Stock Option and all rights and obligations thereunder shall expire on such date as the
Stock Option Committee may determine, but not later than ten (10) years from the date such Stock
Option is granted, and shall be subject to earlier termination as provided elsewhere in this Plan.

     24. Exculpation and Indemnification of Stock Option Committee

     The present, former and future members of the Stock Option Committee, and each of them, who is
or was a director, officer or employee of the Company shall be indemnified by the Company to the
extent authorized in and permitted by the Company’s Articles of Incorporation, and/or Bylaws in
connection with all actions, suits and proceedings to which they or any of them may be a party by
reason of any act or omission of any member of the Stock Option Committee under or in connection
with the Plan or any Stock Option granted thereunder.

     25. Notices

     All notices and demands of any kind which the Stock Option Committee, any Optionee, Eligible
Participant, or other person may be required or desires to give under the terms of this Plan shall
be in writing and shall be delivered in hand to the person or persons to whom addressed (in the
case of the Stock Option Committee, with the Chief Executive Officer, Cashier or Secretary of the
Company), by leaving a copy of such notice or demand at the address of such person or persons as
may be reflected in the records of the Company, or by mailing a copy thereof, properly addressed as
above, by certified or registered mail, postage prepaid, with return receipt requested. Delivery
by mail shall be deemed made upon receipt by the notifying party of the return receipt request
acknowledging receipt of the notice or demand.

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     26. Limitation on Obligations of the Company

     All obligations of the Company arising under or as a result of this Plan or Stock Options
granted hereunder shall constitute the general unsecured obligations of the Company, and not of the
Board of Directors of the Company, any member thereof, the Stock Option Committee, any member
thereof, any officer of the Company, or any other person or any Subsidiary, and none of the
foregoing, except the Company, shall be liable for any debt, obligation, cost or expense hereunder.

     27. Limitation of Rights

     The Stock Option Committee, in its sole and absolute discretion, is entitled to determine who,
if anyone, is an Eligible Participant under this Plan, and which, if any, Eligible Participant
shall receive any grant of a Stock Option. No oral or written agreement by any person on behalf of
the Company relating to this Plan or any Stock Option granted hereunder is authorized, and such may
not bind the Company or the Stock Option Committee to grant any Stock Option to any person.

     28. Severability

     If any provision of this Plan as applied to any person or to any circumstance shall be
adjudged by a court of competent jurisdiction to be void, invalid, or unenforceable, the same shall
in no way affect any other provision hereof, the application of any such provision in any other
circumstances, or the validity or enforceability hereof.

     29. Construction

     Where the context or construction requires, all words applied in the plural herein shall be
deemed to have been used in the singular and vice versa, and the masculine gender shall include the
feminine and the neuter and vice versa.

     30. Headings

     The headings of the several sections herein are inserted solely for convenience of reference
and are not intended to form a part of and are not intended to govern, limit or aid in the
construction of any term or provision hereof.

     31. Successors

     This Plan shall be binding upon the respective successors, assigns, heirs, executors,
administrators, guardians and personal representatives of the Company and Optionees.

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     32. Governing Law

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

     33. Conflict

     In the event of any conflict between the terms and provisions of this Plan, and any other
document, agreement or instrument, including, without meaning any limitation, any Stock Option
Agreement, the terms and provisions of this Plan shall control.

* * * * * * * *

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SECRETARY’S CERTIFICATE OF ADOPTION

     I, the undersigned, do hereby certify:

     1. That I am the duly elected or appointed and acting Secretary of FCB Bancorp; and

     2. That the FCB Bancorp 2005 Stock Option Plan was duly adopted by the Board of Directors of
FCB Bancorp as the 2005 Stock Option Plan for the Company at a meeting duly called as required by
law and convened on the 19th day of May, 2005.

     IN WITNESS WHEREOF, I have hereunto subscribed my name this                      day of
                    , 2005.

	 	 	 	 	 
	 	 	 
	 	 	
 	 
	 	 	Secretary 	 
	 	 	 	 

 

 

	 	 	 	 	 

SECRETARY’S CERTIFICATE

OF SHAREHOLDER APPROVAL

I, the undersigned, do hereby certify that:

     1. I am the duly elected or appointed and acting Secretary of FCB Bancorp; and

     2. The FCB Bancorp 2005 Stock Option Plan was duly adopted by the affirmative vote of the
holders of at least a majority of the outstanding shares of the Company’s Common Stock at a meeting
of the shareholders duly called and noticed as required by law and convened on ___, 2005
(the “Meeting”).

     IN WITNESS WHEREOF, I have hereunto subscribed my name this                      day of
                    , 2005.

	 	 	 	 	 
	 	 	 
	 	 	
 	 
	 	 	Secretaryexv10w2

 

EXHIBIT 10.2

	 	 	OPTIONEES TO WHOM INCENTIVE STOCK OPTIONS ARE GRANTED MUST MEET CERTAIN HOLDING PERIOD AND
EMPLOYMENT REQUIREMENTS FOR FAVORABLE TAX TREATMENT.

	 	 	UNLESS OTHERWISE STATED, ALL TERMS DEFINED IN THE PLAN SHALL HAVE THE SAME MEANING HEREIN AS SET
FORTH IN THE PLAN.

FCB BANCORP

STOCK OPTION AGREEMENT

2005 STOCK OPTION PLAN

o Incentive Stock Option

o Non-Qualified Stock Option

 

     THIS AGREEMENT, dated the                      day of                                         , 200    , is entered into by and between FCB
Bancorp, a California corporation (the “Company”), and                                                             (“Optionee”);

     WHEREAS, pursuant to the Company’s 2005 Stock Option Plan (the “Plan”), the Board of Directors
has authorized the grant to Optionee of a Stock Option to purchase all or any part of
                                                             (                                        ) authorized but unissued shares of the Company’s Common Stock at the
price of                                                             ($                                        ) per share, such Stock Option to be for the term and
upon the terms and conditions hereinafter stated;

     NOW, THEREFORE, it is hereby agreed:

     1. Grant of Stock Option. Pursuant to said action of the Board of Directors and
subject to authorizations granted by all appropriate regulatory and governmental agencies, the
Company 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
                                                             (                                        ) shares of the Company’s Common Stock at the price of

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                                                            ($                                        ) per share. For purposes of this Agreement and the Plan, the
date of grant shall be                                         , 200    .

     The Stock Option granted hereunder is [is/not] intended to qualify as an Incentive Stock
Option within the meaning of Section 422A of the Internal Revenue Code of 1986, as amended.

     2. Exercisability. This Stock Option shall be exercisable as to
                                                            (                                        ) Option Shares on                                                             ,                                         or immediately upon the occurrence
of a “change of control” as defined herein. Once exercisable, this Stock Option shall remain
exercisable as to all of such Option Shares until                                                             ,                                         , at which time it shall expire
in its entirety, unless this Stock Option has expired or terminated earlier in accordance with the
provisions hereof or of the Plan. Option Shares as to which this Stock Option become exercisable
may be purchased at any time prior to expiration of this Stock Option. For the purpose of this
Stock Option Agreement a “change of control” shall be deemed to occur if more than seventy-five
percent (75%) of the Company’s outstanding common stock is transferred in one, or a series of
related, transaction(s) to any person, group of persons acting in concert, firm, partnership,
limited liability company or corporation other than to a person, or to an entity controlled by a
person, serving on the Board of Directors of the Company on the date of this stock option grant.

     3. Exercise of Stock Option. This Stock Option may be exercised by written notice
substantially in the form of Exhibit “A” hereto delivered to the Company stating the number of
Option Shares with respect to which this Stock Option is being exercised, together with cash (or
bank, cashier’s or certified check). Not less than ten (10) Option Shares may be purchased at any
one time unless the number purchased is the total number which remains to be purchased under this
Stock Option and in no event may the Stock Option be exercised with respect to fractional shares.
Upon exercise, Optionee shall make appropriate arrangements and shall be responsible for the
withholding of all federal and state income taxes then due, if any.

     4. Prior Outstanding Stock Options. Pursuant to Section 8(b) of the Plan, an
Incentive Stock Option held by Optionee may be exercisable while the Optionee has outstanding and

2

 

unexercised any Incentive Stock Option previously granted to him or her by the Company, or a
bank or corporation which (at the time of grant) is a parent or Subsidiary of the Company, or a
predecessor corporation of any such entity.

     5. Cessation of Affiliation. Except as provided in Paragraph 6 hereof, if, for any
reason other than Optionee’s disability or death, Optionee ceases to be employed by or affiliated
with the Company or a Subsidiary, this Stock Option shall expire ninety (90) days thereafter or on
the date specified in Paragraph 2 hereof, whichever is earlier. During such period after cessation
of employment or affiliation, this Stock Option shall be exercisable only as to those increments,
if any, which had become exercisable as of the date on which the Optionee ceased to be employed by
or affiliated with the Company or Subsidiary, and any Stock Options or increments which had not
become exercisable as of such date shall expire and terminate automatically on such date.

     6. Termination for Cause. If Optionee’s employment by, or affiliation with, the
Company or a Subsidiary is terminated for cause, this Stock Option shall automatically expire
unless reinstated by the Board of Directors within thirty (30) days of such termination by giving
written notice of such reinstatement to Optionee. In the event of such reinstatement, Optionee may
exercise this Stock Option only to such extent, for such time, and upon such terms and conditions
as if Optionee had ceased to be employed by, or affiliated with, the Company or a Subsidiary upon
the date of such termination for a reason other than cause, disability or death. Termination for
cause shall include, but shall not be limited to, termination for malfeasance or gross misfeasance
in the performance of duties or conviction of illegal activity in connection therewith, or any
conduct detrimental to the interests of the Company or a Subsidiary, and, in any event, the
determination of the Board of Directors with respect thereto shall be final and conclusive.

     7. Disability or Death of Optionee. If Optionee becomes disabled or dies while
employed by, or affiliated with, the Company or a Subsidiary, or during the ninety (90)-day period
referred to in Paragraph 5 hereof, this Stock Option shall automatically expire and terminate one
(1) year after the date of Optionee’s disability or death or on the day specified in Paragraph 2
hereof,

3

 

whichever is earlier. After Optionee’s disability or death but before such expiration, the
person or persons to whom Optionee’s rights under this Stock Option shall have passed by order of a
court of competent jurisdiction or by will or the applicable laws of descent and distribution, or
the executor, administrator or conservator of Optionee’s estate, subject to the provisions of
Paragraph 13 hereof, shall have the right to exercise this Stock Option to the extent that
increments, if any, had become exercisable as of the date on which Optionee ceased to be employed
by or affiliated with the Company or a Subsidiary. For purposes hereof, “disability” shall have
the same meaning as set forth in Section 14 of the Plan.

     8. Nontransferability. This Stock Option shall not be transferable except by will or
by the laws of descent and distribution, and shall be exercisable during Optionee’s lifetime only
by Optionee.

     9. Employment. This Agreement shall not obligate the Company or a Subsidiary to
employ Optionee for any period, nor shall it interfere in any way with the right of the Company or
a Subsidiary to increase or reduce Optionee’s compensation.

     10. Privileges of Stock Ownership. Optionee shall have no rights as a stockholder
with respect to the Option Shares unless and until said Option Shares are issued to Optionee as
provided in the Plan. Except as provided in Section 15 of the Plan, no adjustment will be made for
dividends or other rights in respect of which the record date is prior to the date such stock
certificates are issued.

     11. Modification and Termination by Board of Directors. The rights of Optionee are
subject to modification and termination upon the occurrence of certain events as provided in
Sections 16 and 17 of the Plan. Upon adoption by the requisite holders of the Company’s
outstanding shares of Common Stock of any plan of dissolution, liquidation, reorganization, merger,
consolidation or sale of all or substantially all of the assets of the Company to another
corporation which would, upon consummation, result in termination of this Stock Option in
accordance with Section 16 of the Plan, this Stock Option shall become immediately exercisable as
to all

4

 

unexercised Option Shares notwithstanding the incremental exercise provisions of Paragraph 2
of this Agreement, for a period then specified by the Board of Directors, but in any event not less
than thirty (30) days, in accordance with Section 8(g) of the Plan, on the condition that the
terminating event described in Section 16 of the Plan is consummated. If such terminating event is
not consummated, this Stock Option shall be exercisable in accordance with the terms of the
Agreement, excepting this Paragraph 11.

     12. Notification of Sale. Optionee agrees that Optionee, or any person acquiring
Option Shares upon exercise of this Stock Option, will notify the Company in writing not more than
five (5) days after any sale or other disposition of such Shares.

     13. Approvals. This Agreement and the issuance of Option Shares hereunder are
expressly subject to the approval of the Plan and the form of this Agreement by the holders of not
less than a majority of the voting stock of the Company. This Stock Option may not be exercised
unless and until all applicable requirements of all regulatory agencies having jurisdiction with
respect thereto, and of the securities exchanges upon which securities of the Company are listed,
if any, have been complied with.

     14. Notices. All notices to the Company provided for in this Agreement shall be
addressed to it in care of its Chief Executive Officer, Chief Financial Officer or Secretary at its
main office and all notices to Optionee shall be addressed to Optionee’s address on file with the
Company or a Subsidiary, or to such other address as either may designate to the other in writing,
all in compliance with the notice provisions set forth in Section 25 of the Plan.

     15. Incorporation of Plan. All of the provisions of the Plan are incorporation herein
by reference as if set forth in full in this Agreement. In the event of any conflict between the
terms of the Plan and any provision contained herein, the terms of the Plan shall be controlling
and the conflicting provisions contained herein shall be disregarded.

5

 

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

	 	 	 	 	 
	 	FCB BANCORP

 	 
	 
	 	By:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	 	 
	 	 	 	 
	 
	 	OPTIONEE

 

 	 
	 	 	 
	 	 	 
	 	 	 
	 

ACKNOWLEDGMENT:

     I hereby acknowledge receipt of a copy of this Agreement as well as a copy of the Stock Option
Plan.

 

OPTIONEE

 

6

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