Document:

Exhibit 10.59

 

EXHIBIT B
(GARY QUISENBERRY)

 

	
  Age of Insured at the

  Time of Death

  	
   

  	
  Amount of Death Benefit, or 100%

  of the net-at-risk, whichever amount is less

  	
   

  
	
  65

  	
   

  	
  $

  	
  93,150

  	
   

  
	
  66

  	
   

  	
  $

  	
  91,476

  	
   

  
	
  67

  	
   

  	
  $

  	
  89,393

  	
   

  
	
  68

  	
   

  	
  $

  	
  86,803

  	
   

  
	
  69

  	
   

  	
  $

  	
  83,541

  	
   

  
	
  70

  	
   

  	
  $

  	
  79,638

  	
   

  
	
  71

  	
   

  	
  $

  	
  75,016

  	
   

  
	
  72

  	
   

  	
  $

  	
  69,592

  	
   

  
	
  73

  	
   

  	
  $

  	
  63,271

  	
   

  
	
  74

  	
   

  	
  $

  	
  55,890

  	
   

  
	
  75

  	
   

  	
  $

  	
  47,460

  	
   

  
	
  76

  	
   

  	
  $

  	
  37,755

  	
   

  
	
  77

  	
   

  	
  $

  	
  26,730

  	
   

  
	
  78

  	
   

  	
  $

  	
  14,198

  	
   

  
	
  79

  	
   

  	
  $

  	
  2Exhibit 10.60

 

EXHIBIT B (TOM SOMMER)

 

	
  Age of Insured at the

  Time of Death

  	
   

  	
  Amount of Death Benefit, or 100%

  of the net-at-risk, whichever amount is less

  	
   

  
	
  65

  	
   

  	
  $

  	
  93,150

  	
   

  
	
  66

  	
   

  	
  $

  	
  91,476

  	
   

  
	
  67

  	
   

  	
  $

  	
  89,393

  	
   

  
	
  68

  	
   

  	
  $

  	
  86,803

  	
   

  
	
  69

  	
   

  	
  $

  	
  83,541

  	
   

  
	
  70

  	
   

  	
  $

  	
  79,638

  	
   

  
	
  71

  	
   

  	
  $

  	
  75,016

  	
   

  
	
  72

  	
   

  	
  $

  	
  69,592

  	
   

  
	
  73

  	
   

  	
  $

  	
  63,271

  	
   

  
	
  74

  	
   

  	
  $

  	
  55,890

  	
   

  
	
  75

  	
   

  	
  $

  	
  47,460

  	
   

  
	
  76

  	
   

  	
  $

  	
  37,755

  	
   

  
	
  77

  	
   

  	
  $

  	
  26,730

  	
   

  
	
  78

  	
   

  	
  $

  	
  14,198

  	
   

  
	
  79

  	
   

  	
  $

  	
  2Exhibit 10.61

 

AMENDMENT NO.
1 TO

LIFE INSURANCE
ENDORSEMENT METHOD

SPLIT DOLLAR
PLAN AGREEMENT

 

This Amendment
No. 1 to Life Insurance Endorsement Method Split Dollar Plan Agreement (the “Amendment”) is made effective as of February 1, 2005, and is
entered into by and between Central Valley Community Bank, formerly named
Clovis Community Bank (the “Bank”) and
Shirley Wilburn (the “Insured” or “Executive”), each a “Party” and
together the “Parties.”

 

RECITALS

 

A.                                   The
Parties entered into that certain Life Insurance Endorsement Method Split
Dollar Plan Agreement dated effective as of April 1, 2001 (the “Agreement”).

 

B.                                     Pursuant
to the terms of this Amendment, the Parties wish to amend the Agreement.

 

AGREEMENT

 

In
consideration of the mutual promises, covenants, and agreements contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

1.                                       Polices
Covered by the Agreement.  In
addition to the ING Southland Life Insurance Company Policy and the Union
Central Life Insurance Company policies identified in the Agreement (the “2001 Policies”), the Agreement shall cover that certain life
insurance policy numbered 56610856 issued by New York Life on February 18, 2005
(the “New York Life Policy”), and all
references in the Agreement to the “policy” shall refer to the 2001 Policies
and the New York Life Policy, except as specifically described in this
Amendment.

 

2.                                       Division
of Death Proceeds.

 

(a)                                  Section
VI (A) is hereby deleted in its entirety and replaced with the following:

 

A.                                   Should
the Insured be employed by the Bank and die before the Executive attains age
sixty-five (65), the Insured’s beneficiary(ies), designated in accordance with
Paragraph III, shall be entitled to the following:  (i) with respect to the 2001 Policies, an
amount equal to Four Hundred Sixty Six Thousand Dollars and No/00ths
($466,000.00), or one hundred percent (100%) of the net at risk insurance
portion of the proceeds of the 2001 Policies, whichever amount is less; and
(ii) with respect to the New York Life Policy, an amount equal to Ninety-Seven
Thousand One Hundred Ninety Dollars and No/00ths ($97,190.00), or one hundred
percent (100%) of the net at risk insurance portion of the proceeds of the New
York Life Policy, whichever amount is less. 
The net at risk insurance portion of each policy is the total proceeds
less the cash value of the policy.

 

 

(b)                                 Section
VI (B) is hereby deleted in its entirety and replaced with the following:

 

B.                                     Should
the Insured be employed by the Bank, or retired from the Bank, and die on or
subsequent to attaining the age of sixty-five (65), the Insured’s
beneficiary(ies), designated in accordance with Paragraph III, shall be
entitled to an amount equal to the following: with respect to the 2001
Policies, the amount as set forth in Exhibit A, attached hereto and fully
incorporated herein by reference, that corresponds to the age of the Insured at
the time of death, or one hundred percent (100%) of the net at risk insurance
portion of the proceeds, whichever amount is less.  Should the Insured be employed by the Bank,
or retired from the Bank, and die on or subsequent to attaining the age of
seventy (70), in addition to the amount identified in the previous sentence,
the Insured’s beneficiary(ies), designated in accordance with Paragraph III,
shall be entitled to an amount equal to the following: with respect to the New
York Life Policy, the amount as set forth in Exhibit B, attached hereto and
fully incorporated herein by reference, that corresponds to the age of the
Insured at the time of death, or one hundred percent (100%) of the net at risk
insurance portion of the proceeds, whichever amount is less.  The net at risk insurance portion of each
policy is the total proceeds less the cash value of the policy.

 

3.                                       Exhibit
B.  Exhibit B, attached to this
Amendment, is hereby added to the Agreement as “Exhibit B.”

 

4.                                       References
and Definitions. Upon execution and delivery of this Amendment, all
references in the Agreement to the “Agreement,” and the provisions thereof,
shall be deemed to refer to the Agreement, as amended by this Amendment. All
capitalized terms used herein and not otherwise defined shall have the meanings
given to them in the Agreement.

 

5.                                       No
Other Amendments or Changes. Except as expressly amended or modified by
this Amendment, all of the terms and conditions of the Agreement shall remain
unchanged and in full force and effect.

Executed effective as of the
date first written above.

 

	
  BANK:

  	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  	
   

  
	
  CENTRAL
  VALLEY COMMUNITY BANK

  	
   

  	
  SHIRLEY
  WILBURN

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Daniel Doyle

  	
   

  	
   

  	
  /s/
  Shirley Wilburn

  	
   

  
	
  Name:
  Daniel Doyle

  	
   

  	
  Shirley
  Wilburn

  
	
  Title:
  President and Chief Executive Officer

  	
   

  	
   

  
						

 

 

EXHIBIT B

 

	
  Age of Insured at the

  Time of Death

  	
   

  	
  Amount of Death Benefit, or 100%

  of the net-at-risk, whichever amount is less

  	
   

  
	
  70

  	
   

  	
  $

  	
  97,190

  	
   

  
	
  71

  	
   

  	
  $

  	
  93,150

  	
   

  
	
  72

  	
   

  	
  $

  	
  91,476

  	
   

  
	
  73

  	
   

  	
  $

  	
  89,393

  	
   

  
	
  74

  	
   

  	
  $

  	
  86,803

  	
   

  
	
  75

  	
   

  	
  $

  	
  83,541

  	
   

  
	
  76

  	
   

  	
  $

  	
  79,638

  	
   

  
	
  77

  	
   

  	
  $

  	
  75,016

  	
   

  
	
  78

  	
   

  	
  $

  	
  69,592

  	
   

  
	
  79

  	
   

  	
  $

  	
  63,271

  	
   

  
	
  80

  	
   

  	
  $

  	
  55,890

  	
   

  
	
  81

  	
   

  	
  $

  	
  47,460

  	
   

  
	
  82

  	
   

  	
  $

  	
  37,755

  	
   

  
	
  83

  	
   

  	
  $

  	
  26,730

  	
   

  
	
  84

  	
   

  	
  $

  	
  14,198

  	
   

  
	
  85

  	
   

  	
  $

  	
  2Exhibit 10.62

 

AMENDMENT NO. 3 TO SALARY CONTINUATION
AGREEMENT

 

This Amendment
No. 3 to Salary Continuation Amendment (the “Amendment”)
is made effective as of February 1, 2005, and is entered into by and between
Central Valley Community Bank, formerly named Clovis Community Bank (the “Bank”) and Daniel Doyle (the “Executive”),
each a “Party” and together the “Parties.”

 

RECITALS

 

A.                                   The
Parties entered into that certain Executive Salary Continuation Agreement dated
as of June 7, 2000, as amended by that certain Amendment No. 1 to Salary
Continuation Amendment dated as of April 29, 2002, as amended and restated by
that certain Amendment No. 2 to Salary Continuation Amendment dated April 1,
2003 (as amended and restated, the “Agreement”).

 

B.                                     Pursuant
to the terms of this Amendment and to comply with the American Jobs Creation
Act of 2004, the Parties wish to amend the Agreement.

 

AGREEMENT

 

In
consideration of the mutual promises, covenants, and agreements contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

1.                                       Change
of Control.  For purposes of Section
3.05 of the Agreement, the definition of “Change of Control”
shall be replaced with the following definition:

 

A “Change in Control” shall be deemed to be a “Change in
Ownership,” as that term is defined in Section 409A of the Code and in the
Guidance provided by the IRS thereunder, and to the extent an event or series
of events does not constitute a “Change in Ownership” under such law, the event
or series of events will not constitute a “Change in Control” under this
Agreement.  Specifically, a Change in
Control shall occur on the date that any one person, or more than one person
acting as a group, acquires ownership of stock of the Bank that, together with
stock held by such person or group, constitutes more than 50 percent of the
total fair market value or total voting power of the stock of the Bank.  However, if any one person or more than one
person acting as a group, is considered to own more than 50 percent of the
total fair market value or total voting power of the stock of Bank, the
acquisition of additional stock by the same person or persons will not be
considered to cause a Change in Control of the Bank.  Further, an increase in the percentage of
stock owned by any one person, or persons acting as a group, as a result of a
transaction in which the Bank acquires its stock in exchange for property will
be treated as an acquisition of stock for purposes of this section.  Transfers of Bank stock

 

 

on
account of deaths or gifts, transfers between family members or transfers to a
qualified retirement plan maintained by the Bank shall not be considered in
determining whether there has been a Change in Control.

 

2.                                       Prohibition
Against Acceleration. 
Notwithstanding anything to the contrary, neither the time nor
scheduling of payments under this Plan may be accelerated unless such
acceleration is permissible under both applicable law and under the Agreement.

 

3.                                       Specified
Employees.  The following is added to
Section 3.03 of the Agreement:

 

In the event Executive at any times becomes a “specified employee,” as
defined in Section 409A of the Code, payments made under this Section upon
involuntary termination of employment without Cause shall not be made on or
before the date which is six (6) months after the Executive’s termination.

 

4.                                       Disability.  Notwithstanding anything to the contrary, for
purposes of Section 3.04 the Agreement, a person shall be considered “Disabled”
only when the person (i) is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment
which can be expected to result in death or can be expected to last for a
continuous period of not less than 12 months; or (ii) is, by reason of any
medically determinable physical or mental impairment which can be expected to
result in death or can be expected to last for a continuous period of not less
than 12 months, receiving income replacement benefits for a period of not less
than 3 months under an accident and health plan covering Bank employees.

 

5.                                       References
and Definitions. Upon execution and delivery of this Amendment, all
references in the Agreement to the “Agreement,” and the provisions thereof,
shall be deemed to refer to the Agreement, as amended by this Amendment. All
capitalized terms used herein and not otherwise defined shall have the meanings
given to them in the Agreement.

 

6.                                       No
Other Amendments or Changes. Except as expressly amended or modified by
this Amendment, all of the terms and conditions of the Agreement shall remain
unchanged and in full force and effect.

Executed effective as of the
date first written above.

 

	
  BANK:

  	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  	
   

  
	
  CENTRAL VALLEY COMMUNITY BANK

  	
   

  	
  DANIEL
  DOYLE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Daniel N. Cunningham

  	
   

  	
   

  	
  /s/
  Daniel J. Doyle

  	
   

  
	
  Name: Daniel N. Cunningham

  	
   

  	
  Daniel
  Doyle

  
	
  Title: Chairman of the Board

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