Document:

SVB Financial Group Deferred Compensation Plan

 Exhibit 10.21 
 SVB Financial Group 
 Deferred Compensation Plan 
 Plan Document 
 Effective For Deferral
Agreements Made 
 On Or After November 15, 2004 
 Amended October 24, 2007 

 TABLE OF CONTENTS 
 PURPOSE 
  

					
	ARTICLE 1 - DEFINITIONS	  	1
	1.1	  	Account	  	1
	1.2	  	Administrator	  	1
	1.3	  	Base Pay	  	1
	1.4	  	Beneficiary	  	1
	1.5	  	Board	  	1
	1.6	  	Bonus	  	1
	1.7	  	Change in Control	  	1
	1.8	  	Code	  	1
	1.9	  	Eligible Employee	  	1
	1.10	  	Employer	  	2
	1.11	  	ERISA	  	2
	1.12	  	Participant	  	2
	1.13	  	Plan	  	2
	1.14	  	Plan Sponsor	  	2
	1.15	  	Plan Year	  	2
	1.16	  	Separation from Service	  	2
	1.17	  	Specified Employee	  	2
	1.18	  	SVB Controlled Group	  	3
	1.19	  	Unforeseeable Emergency	  	3
	1.20	  	Valuation Date	  	3
		
	ARTICLE 2 - PARTICIPATION	  	4
	2.1	  	Participation	  	4
	2.2	  	Termination of Participation	  	4
	2.3	  	Suspension of Participation	  	4
		
	ARTICLE 3 - DEFERRAL ELECTIONS	  	5
	3.1	  	Deferral Agreement	  	5
	3.2	  	Election to Defer Base Pay	  	5
	3.3	  	Election to Defer Bonus	  	5
	3.4	  	Timing of Election to Defer	  	5
	3.5	  	Election of Payment Schedule and Form of Payment	  	6
	3.6	  	Override Elections	  	6
		
	ARTICLE 4 - PARTICIPANT ACCOUNT	  	8
	4.1	  	Individual Accounts	  	8

  

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	ARTICLE 5 - INVESTMENT OF CONTRIBUTIONS	  	9
	5.1	  	Investment Options	  	9
	5.2	  	Adjustment of Accounts	  	9
		
	ARTICLE 6 - RIGHT TO BENEFITS	  	10
	6.1	  	Vesting	  	10
	6.2	  	Death	  	10
	6.3	  	Disability	  	10
		
	ARTICLE 7 - DISTRIBUTION OF BENEFITS	  	12
	7.1	  	Amount of Benefits	  	12
	7.2	  	Method and Timing of Distributions	  	12
	7.3	  	Unforeseeable Emergency	  	12
	7.4	  	Cash outs of Amounts Not Exceeding $10,000	  	12
		
	ARTICLE 8 - AMENDMENT AND TERMINATION	  	13
	8.1	  	Amendment by Employer	  	13
	8.2	  	Retroactive Amendments	  	13
	8.3	  	Plan Termination	  	13
	8.4	  	Distribution Upon Termination of the Plan	  	13
		
	ARTICLE 9 - THE TRUST	  	14
	9.1	  	Establishment of Trust	  	14
	9.2	  	Grantor Trust	  	14
	9.3	  	Investment of Trust Funds	  	14
		
	ARTICLE 10 - MISCELLANEOUS	  	15
	10.1	  	Unsecured General Creditor of the Employer	  	15
	10.2	  	Employer’s Liability	  	15
	10.3	  	Limitation of Rights	  	15
	10.4	  	Alienation of Benefits	  	15
	10.5	  	Facility of Payment	  	15
	10.6	  	Notices	  	16
	10.7	  	Tax Withholding	  	16
	10.8	  	Indemnification	  	16
	10.9	  	Governing Law	  	17

  

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	ARTICLE 11 - PLAN ADMINISTRATION	  	18
	11.1	  	Powers and Responsibilities of the Administrator	  	18
	11.2	  	Claims and Review Procedures	  	18
	11.3	  	Plan Administrative Costs	  	19

 APPENDIX A INVESTMENT OPTIONS 
  

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 PURPOSE 
 The purpose of the SVB Financial Group Deferred Compensation Plan (the “Plan”) is to permit eligible employees to elect to defer receipt of compensation which would otherwise be payable to them currently as annual base pay or
bonuses. The Plan is intended to be a “plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the
meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA and shall be implemented and administered in a manner consistent therewith. The Plan also is intended to comply with Section 409A of the Internal Revenue Code. 

 ARTICLE 1 – DEFINITIONS 
 Pronouns used in the Plan are in the masculine gender but include the feminine gender unless the context clearly indicates otherwise. Wherever used herein, the following terms have the meanings set forth below, unless
a different meaning is clearly required by the context: 
  

	1.1	“Account” means an account established for the purpose of recording amounts credited on behalf of a Participant and any income, expenses, gains, losses or
distributions included thereon. The Account shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant pursuant to the Plan. 

 

	1.2	“Administrator” means the Employer, or such other person or persons designated by the Employer to be responsible for the administration of the Plan.

  

	1.3	“Base Pay” means the basic or regular rate of per payroll period remuneration paid to the Participant by the Employer. 

  

	1.4	“Beneficiary” means the persons, trusts, estates or other entities entitled under Section 6.2 to receive benefits under the Plan upon the death of a
Participant. 

  

	1.5	“Board” means the Board of Directors of the Plan Sponsor. 

  

	1.6	“Bonus” means a bonus payable under the Incentive Compensation Plan, the Alliant Bonus Plan, the Retention Plan, the Alliant Retention Plan and any other incentive
program so designated by the Board. 

  

	1.7	“Change in Control” means the occurrence of a change in the ownership or effective control of the Plan Sponsor, or in the ownership of a substantial portion of the
assets of the Plan Sponsor, as determined in accordance with Treasury Regulation section 1.409A-3(i)(5). 

  

	1.8	“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

  

	1.9	 “Eligible Employee” means an employee of the Employer who is determined by the Employer to be a member of a select group of management or highly
compensated employees within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA and who is either (a) classified according to the employment policies of the Employer as a 

  

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group or division manager, any employee with an Incentive Compensation Plan bonus target of 40% or higher, the corporate controller, an SVB Alliant managing
director or a member of the Steering Committee, or (b) designated by the Employer as an Eligible Employee for purposes of the Plan. 

  

	1.10	“Employer” means the Plan Sponsor and any other entity, which is authorized by the Plan Sponsor to participate in and, in fact, does adopt the Plan.

  

	1.11	“ERISA” means the Employee Retirement Income Security Act of 1974, as from time to time amended. 

  

	1.12	“Participant” means any Eligible Employee who participates in the Plan in accordance with Article 2. 

  

	1.13	“Plan” means the SVB Financial Group Deferred Compensation Plan as set forth herein and as it may be amended from time to time. 

  

	1.14	“Plan Sponsor” means SVB Financial Group. 

  

	 1.15
	 “Plan Year” means the 12-consecutive month period beginning January 1st and ending December 31st. 

  

	1.16	“Separation from Service” means a Participant’s death, retirement, or other termination of employment with the SVB Controlled Group, subject to the following:

  

	 	(a)	For this purpose, the employment relationship is treated as continuing intact while the individual is on military leave, sick leave, or other bona fide leave of absence (such as
temporary employment by the government) if the period of such leave does not exceed six (6) months, or if longer, so long as the individual’s right to reemployment with the SVB Controlled Group is provided either by statute or by contract.
If the period of leave exceeds six (6) months and the individual’s right to reemployment is not provided either by statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such
six-month period. 

  

	 	(b)	The determination of whether a Participant has terminated employment shall be determined based on the facts and circumstances in accordance with the rules set forth in Code
Section 409A and the regulations thereunder. 

  

	1.17	“Specified Employee” means a Participant who is identified as a “specified employee” as of the date of his Separation from Service in accordance with the
requirements of Treasury Regulation section 1.409A-1(i). 

  

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	1.18	“SVB Controlled Group” means the Employers and any corporation which is a member of a controlled group of corporations (as defined in Code Section 414(b))
which includes an Employer and any trade or business (whether or not incorporated) which is under common control (as defined in Code Section 414(c) with an Employer. 

  

	1.19	“Unforeseeable Emergency” means a severe financial hardship of the Participant resulting from an illness or accident of the Participant, the Participant’s
spouse, or the Participant’s dependent (as defined in Code Section 152(a)); loss of the Participant’s property due to casualty (including the need to rebuild a home following damage to a home not otherwise covered by homeowner’s
insurance); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. 

  

	1.20	“Valuation Date” means each business day of the Plan Year and such other date(s) as designated by the Employer. 

  

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 ARTICLE 2 – PARTICIPATION 
  

	2.1	Participation. Each Eligible Employee shall become a Participant in the Plan by executing a deferral agreement in accordance with the provisions of Article 3.

  

	2.2	Termination of Participation. A Participant’s participation in the Plan shall cease upon his termination of service with the Employer for any reason or his ceasing to
qualify as an Eligible Employee. In addition, the Administrator may terminate a Participant’s participation in the Plan at the direction of the Employer. Upon any termination of participation, a Participant’s deferrals shall cease but the
provisions of Section 7.2 shall continue to apply. 

  

	2.3	Suspension of Participation. A Participant’s participation in the Plan will be suspended during an unpaid authorized leave of absence and will resume upon his return to
service with the Employer, provided he continues to qualify as an Eligible Employee upon his rehire. 

  

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 ARTICLE 3 – DEFERRAL ELECTIONS 
  

	3.1	Deferral Agreement. Each Eligible Employee may elect to defer amounts otherwise payable to him currently for the Plan Year by executing a deferral agreement in accordance
with rules and procedures established by the Administrator and the provisions of this Article 3. The deferral agreement must separately specify for each discrete type of compensation (i.e., Base Pay and each type of Bonus) the whole number
percentage multiple that the Participant elects to defer and the timing and form of payment of the deferred amount. 

 A new
deferral agreement must be timely executed for each Plan Year during which the Eligible Employee elects to defer compensation. An Eligible Employee who does not timely execute a deferral agreement shall be deemed to have elected zero deferrals for
such Plan Year. 
 A deferral agreement may be changed or revoked at any time during the respective periods specified in Section 3.4. A
deferral agreement becomes irrevocable at the close of the respective period. 
  

	3.2	Election to Defer Base Pay. An Eligible Employee may elect to defer Base Pay for a Plan Year in any amount (in 1% increments) from 5% to 25% of Base Pay.

  

	3.3	Election to Defer Bonus. An Eligible Employee may elect to defer (in 1% increments) from 5% to 100% of his Bonus for a Plan Year. 

  

	3.4	Timing of Election to Defer. Each Eligible Employee who desires to defer Base Pay otherwise payable during a Plan Year must execute a deferral agreement within the period
preceding the Plan Year specified by the Administrator. Each Eligible Employee who desires to defer a Bonus must execute a deferral agreement within the period preceding the Plan Year during which the Bonus is earned that is specified by the
Administrator, except that if the Bonus can be treated as “performance based compensation which is based upon services performed over a period of at least twelve months” as described in Section 409A(a)(4)(B)(iii) and Treasury
Regulations promulgated thereunder, such deferral agreement must be executed no later than the date which is six months before the end of the performance period in which the Bonus is earned. 

 In the case of the first Plan Year in which an Employee first becomes classified or designated as an Eligible Employee, if and to the extent permitted by
the Administrator, the individual may make an election no 

  

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later than thirty (30) days after the date he or she becomes an Eligible Employee to defer Base Pay and/or Bonus (as applicable) for services to be
performed after the election. An election will be deemed to apply to Bonus for services performed after the election if the election applies to no more than an amount equal to the total Bonus for the performance period multiplied by the ratio of the
number of days remaining in the performance period after the election over the total number of days in the performance period. This paragraph will not apply to an Employee who is a participant in any other account balance deferred compensation plans
maintained by any member of the SVB Controlled Group which is required to be aggregated with this Plan under Code Section 409A. 
  

	3.5	Election of Payment Schedule and Form of Payment. At the time an Eligible Employee completes a deferral agreement, the Eligible Employee must separately elect for each type
of compensation being deferred (i.e., for Base Pay and each type of Bonus) and the date of distribution of each deferred amount, the form of payment in which each deferred amount will be distributed and whether or not either or both of the override
elections described in Section 3.6 will apply to the deferred amounts. 

 The date of distribution may be the date the
Eligible Employee Separates from Service or any specified date which is at least three years after the first day of the Plan Year during which the deferral agreement is effective. The form of payment may be a single sum distribution in cash or a
series of substantially equal periodic payments in cash made over a period-certain of five years or ten years. 
  

	3.6	Override Elections. At the time an Eligible Employee makes the elections described in Section 3.5, he may elect one or both of the override elections described in this
Section 3.6. An override election provides that the date of distribution specified by the Eligible Employee in accordance with Section 3.5 will be honored unless an override event intervenes before the scheduled date of distribution, in
which case the date of the intervening override event will be substituted as the date of distribution. The permissible override events are termination of service with the Employer and a Change in Control. An Eligible Employee who elects a Separation
from Service override may also specify a form of payment for the deferred amount that is the subject of the override election. If the Eligible Employee elects a Change in Control override, payment will be made in a single lump sum distribution in
cash as soon as practicable following the Change in Control. 

  

	3.7	Cancellation of Election. The Administrator may permit a Participant to cancel a deferral election during a Plan Year if it determines either of the following circumstances
has occurred: 

  

	 	(a)	The Participant has an Unforeseeable Emergency or a hardship distribution (pursuant to Treasury Regulation section 1.401(k)-1(d)(3)) from the 401(k) Plan. If approved by the
Administrator, such cancellation shall take effect as of the first payroll period next following approval by the Committee. 

  

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	 	(b)	The Participant incurs a disability. If approved by the Administrator, such cancellation shall take effect no later than the end of the Plan Year or the 15th day of the third month
following the date Participant incurs a “disability” as defined in this paragraph (b). Solely for purposes of this paragraph (b), a “disability” refers to any medically determinable physical or mental impairment resulting in the
Participant’s inability to perform the duties of his or her position or any substantially similar position, where such impairment can be expected to result in death or can be expected to last for a continuous period of not less than six months.

 If a Participant cancels a deferral election during a Plan Year, he or she will not be permitted to make a new deferral
election with respect to Compensation relating to services performed during the same Plan Year. 
  

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 ARTICLE 4 – PARTICIPANT ACCOUNT 
  

	4.1	Individual Accounts. The Administrator will establish and maintain a bookkeeping Account for each Participant which will reflect deferrals made pursuant to Article 3 along
with earnings, expenses, gains and losses credited thereto, attributable to the hypothetical investments made with the amounts in the Participant’s Account as provided in Article 5. The amount a Participant elects to defer in accordance with
Article 3 shall be credited to the Participant’s Account at the time the amount subject to the deferral election would otherwise have been payable to the Participant but for his election to defer. The Administrator will establish and maintain
such other accounts and records as it decides in its discretion to be reasonably required or appropriate to discharge its duties under the Plan. 

  

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 ARTICLE 5 – INVESTMENT OF CONTRIBUTIONS 
  

	5.1	Investment Options. The amount in a Participant’s Account shall be treated as invested in the investment options designated for this purpose by the Administrator and set
forth in Appendix A. 

  

	5.2	Adjustment of Accounts. The amount in a Participant’s Account shall be adjusted for hypothetical investment earnings or losses in an amount equivalent to the gains or
losses reported by the investment options selected by the Participant or Beneficiary from among the investment options provided in Section 5.1. A Participant may, in accordance with rules and procedures established by the Administrator, change
the investments to be used for the purpose of calculating future hypothetical investment adjustments to the Participant’s Account or to future Participant deferrals effective as of the Valuation Date coincident with or next following notice to
the Administrator. The Account of each Participant shall be adjusted as of each Valuation Date to reflect: (a) the hypothetical investment earnings and/or losses described above; (b) Participant deferrals; and (c) distributions or
withdrawals from the Account. 

  

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 ARTICLE 6 – RIGHT TO BENEFITS 
  

	6.1	Vesting. A Participant, at all times, has a 100% nonforfeitable interest in the amounts credited to his Account. 

  

	6.2	Death. The balance or remaining balance credited to a Participant’s Account shall be paid to his Beneficiary in a single lump sum payment as soon as practicable
following the date of death. If multiple Beneficiaries have been designated, each Beneficiary shall receive a single lump sum payment of his specified portion of the Account as soon as practicable following the date of death.

 A Participant may designate a Beneficiary or Beneficiaries, or change any prior designation of Beneficiary or Beneficiaries
in accordance with rules and procedures established by the Administrator. A copy of the death notice or other sufficient documentation must be filed with and approved by the Administrator. If upon the death of the Participant there is, in the
opinion of the Administrator, no designated Beneficiary for part or all of the Participant’s Account, such amount will be paid to his estate (such estate shall be deemed to be the Beneficiary for purposes of the Plan) in a single lump sum
payment. 
  

	6.3	Disability. The balance or remaining balance credited to a Participant’s Account shall be paid to the Participant in a single lump sum cash payment as soon as
practicable following the date a Participant is determined to be totally and permanently disabled. A Participant shall be considered totally and permanently disabled if 

  

	 	(a)	he 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, 

  

	 	(b)	he is, by reason of any 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 or health plan of the Employer, or 

  

	 	(c)	he is determined to be totally disabled by the Social Security Administration. 

  

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 The Administrator, in its sole discretion, shall determine whether a Participant is totally and
permanently disabled for purposes of this Section 6.3. 
  

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 ARTICLE 7 – DISTRIBUTION OF BENEFITS 
  

	7.1	Amount of Benefits. The amount credited to a Participant’s Account as determined under Articles 4 and 6 shall determine and constitute the basis for the value of
benefits payable to the Participant under the Plan. 

  

	7.2	Method and Timing of Distributions. Subject to Section 7.4, distributions under the Plan shall be made at the time and in the manner specified by the Participant in
accordance with the provisions of Article 3. A distribution made on account of Separation from Service shall be made during the month following the last day of the Plan Year in which the Participant’s termination occurred, except that a
distribution made to a Participant who is a Specified Employee on his Separation from Service date shall, in no event, be made before the date which is six months after the date he Separates from Service. 

  

	7.3	Unforeseeable Emergency. A Participant may request a distribution due to an Unforeseeable Emergency. The request must be in writing and must be submitted to the Administrator
along with evidence that the circumstances constitute an Unforeseeable Emergency. The Administrator has the discretion to require whatever evidence it deems necessary to determine whether a distribution is warranted. Whether a Participant has
incurred an Unforeseeable Emergency will be determined by the Administrator on the basis of the relevant facts and circumstances in its sole discretion, but, in no event, will an Unforeseeable Emergency be deemed to exist if the hardship can be
relieved: (a) through reimbursement or compensation by insurance or otherwise, (b) by liquidation of the Participant’s assets to the extent such liquidation would not itself cause severe financial hardship, or (c) by cessation of
deferrals under the Plan. A distribution due to an Unforeseeable Emergency must be limited to the amount reasonably necessary to satisfy the emergency need and may include any amounts necessary to pay any federal, state or local income tax penalties
reasonably anticipated to result from the distribution. The distribution will be made in the form of a single lump sum. 

  

	7.4	Cashouts Of Amounts Not Exceeding $10,000. If the amount credited to the Participant’s Account does not exceed $10,000 at the time he separates from service with the
Employer for any reason, the Employer shall pay such amount to the Participant in a single lump sum payment as soon as practicable following such termination or cessation of service regardless of whether the Participant had made different elections
of time or form of payment as to the amount credited to his Account or whether the Participant was receiving installments at the time of such termination. A distribution made to a Specified Employee shall not be made before the date that is six
months after the date of his Separation from Service. 

  

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 ARTICLE 8 – AMENDMENT AND TERMINATION 
  

	8.1	Amendment by Employer. The Plan Sponsor reserves the right to amend the Plan (for itself and each Employer) through action of the Board. An amendment must be in writing and
executed by an officer authorized to take such action. Each amendment shall be effective when approved by the Board in its resolution. No amendment can directly or indirectly deprive any current or former Participant or Beneficiary of all or any
portion of his Account, which had accrued prior to the amendment. 

  

	8.2	Retroactive Amendments. An amendment made by the Plan Sponsor in accordance with Section 8.1 may be made effective on a date prior to the first day of the Plan Year in
which it is adopted if such amendment is necessary or appropriate to enable the Plan to satisfy the applicable requirements of the Code or ERISA or to conform the Plan to any change in federal law or to any regulations or ruling thereunder. Any
retroactive amendment by the Plan Sponsor shall be subject to the provisions of Section 8.1. 

  

	8.3	Plan Termination. The Plan has been adopted with the intention and expectation that it will be continued indefinitely. Each Employer, however, reserves the right to terminate
the Plan with respect to its participating employees. Each Employer has no obligation or liability whatsoever to maintain the Plan for any length of time and may discontinue contributions under the Plan or terminate the Plan at any time without any
liability hereunder for any such discontinuance or termination. 

  

	8.4	Distribution Upon Termination of the Plan. Upon termination of the Plan, no further Contributions shall be made under the Plan and if such termination meets the distribution
acceleration requirements of Code Section 409A, all amounts credited to each Participant’s Account shall be paid out as soon as administratively feasible in a single lump sum payment regardless of the elections the Participant had made
concerning the time and form of payment of the amounts credited to his Account and regardless of whether the Participant was receiving installments at the time of such Plan termination. 

  

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 ARTICLE 9 – THE TRUST 
  

	9.1	Establishment of Trust. The Plan Sponsor may but is not required to establish a trust to hold amounts, which the Plan Sponsor may contribute from time to time to correspond
to some or all amounts credited to Participants under Section 4.1. If the Plan Sponsor elects to establish a trust, the provisions of Sections 9.2 and 9.3 shall become operative. 

  

	9.2	Grantor Trust. Any trust established by the Plan Sponsor shall be between the Plan Sponsor and a trustee pursuant to a separate written agreement under which assets are held,
administered and managed, subject to the claims of the Plan Sponsor’s creditors in the event of the Plan Sponsor’s insolvency, until paid to the Participant and/or his Beneficiaries specified in the Plan. The trust is intended to be
treated as a grantor trust under the Code, and the establishment of the trust shall not cause the Participant to realize current income on amounts contributed thereto. 

  

	9.3	Investment of Trust Funds. Any amounts contributed to the trust by the Plan Sponsor shall be invested by the trustee in accordance with the provisions of the trust and the
instructions of the Administrator. Trust investments need not reflect the hypothetical investments selected by Participants under Section 5.1 for the purpose of adjusting Accounts and the earnings or investment results of the trust shall not
affect the hypothetical investment adjustments to Participant Accounts under the Plan. 

  

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 ARTICLE 10 – MISCELLANEOUS 
  

	10.1	Acceleration of Payments Permitted Under Code Section 409A. Notwithstanding anything in this Plan to the contrary, the Administrator may provide that a Participant will
receive all or a portion of his or her Account prior to the time specified in this Plan to the extent such acceleration is permitted under Code Section 409A. 

  

	10.2	Unsecured General Creditor of the Employer. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims
in any property or assets of the Employer. For purposes of the payment of benefits under the Plan, any and all of the Employer’s assets shall be, and shall remain, the general, unpledged, unrestricted assets of the Employer. Each
Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. 

  

	10.3	Employer’s Liability. Each Employer’s liability for the payment of benefits under the Plan shall be defined only by the Plan and by the deferral agreements entered
into between a Participant and the Employer. An Employer shall have no obligation or liability to a Participant under the Plan except as provided by the Plan and a deferral agreement or agreements. An Employer shall have no liability to Participants
employed by other Employers. 

  

	10.4	Limitation of Rights. Neither the establishment of the Plan, nor any amendment thereof, nor the creation of any fund or account, nor the payment of any benefits, will be
construed as giving to the Participant or any other person any legal or equitable right against the Employer or Administrator, except as provided herein; and in no event will the terms of employment or service of the Participant be modified or in
any way affected hereby. 

  

	10.5	 Assignment of Benefits. Except as hereinafter provided with respect to marital disputes, none of the benefits or rights of a Participant or any Beneficiary
of a Participant shall be subject to the claim of any creditor. In particular, to the fullest extent permitted by law, all such benefits and rights shall be free from attachment, garnishment, or any other legal or equitable process available to any
creditor of the Participant and his or her Beneficiary. Neither the Participant nor his or her Beneficiary shall have the right to alienate, anticipate, commute, pledge, encumber, or assign any of the payments which he or she may expect to receive,
contingently or otherwise, under this Plan, except the right to designate a Beneficiary to receive death benefits provided hereunder. In cases of marital dispute, 

  

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the Employer shall observe the terms of the Plan unless and until ordered to do otherwise by a state or Federal court. As a condition of participation, a
Participant agrees to hold the Employer harmless from any harm that arises out of the Employer’s obeying the final order of any state or Federal court, whether such order effects a judgment of such court or is issued to enforce a judgment or
order of another court. A distribution made to comply with a court-approved settlement incident to divorce or to comply with Federal conflict of interest requirements shall be permitted, notwithstanding the provisions of Article 3 or any elections
made by the Participant to the contrary. 

  

	10.6	Facility of Payment. If the Administrator determines, on the basis of medical reports or other evidence satisfactory to the Administrator, that the recipient of any benefit
payments under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the Administrator may direct the Employer to disburse such payments to a person or institution designated by a court which
has jurisdiction over such recipient or a person or institution otherwise having the legal authority under State law for the care and control of such recipient. The receipt by such person or institution of any such payments therefore, and any such
payment to the extent thereof, shall discharge the liability of the Employer for the payment of benefits hereunder to such recipient. 

  

	10.7	Notices. Any notice or other communication in connection with the Plan shall be deemed delivered in writing if addressed as provided below and if either actually delivered at
said address or, in the case or a letter, 5 business days shall have elapsed after the same shall have been deposited in the United States mails, first-class postage prepaid and registered or certified: 

  

	 	(a)	If it is sent to the Employer or Administrator, it will be at the address specified by the Employer; or 

  

	 	(b)	In each case at such address as the addressee shall have specified by written notice delivered in accordance with the foregoing to the addressor’s then effective notice
address. 

  

	10.8	Tax Withholding. The Employer shall have the right to deduct from all payments or deferrals made under the Plan any tax required by law to be withheld. If the Employer
concludes that tax is owing with respect to any deferral or payment hereunder, the Employer shall withhold such amounts from any payments due the Participant, as permitted by law, or otherwise make appropriate arrangements with the Participant or
his Beneficiary for satisfaction of such obligation. Tax, for purposes of this Section 10.8 means any federal, state, local or any other governmental income tax, employment or payroll tax, excise tax, or any other tax or assessment owing with
respect to amounts deferred, any earnings thereon, and any payments made to Participants under the Plan. 

  

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	10.9	Indemnification. Each Employer shall indemnify and hold harmless each employee, officer, or director of an Employer to whom is delegated duties, responsibilities, and
authority with respect to the Plan against all claims, liabilities, fines and penalties, and all expenses reasonably incurred by or imposed upon him (including but not limited to reasonable attorney fees) which arise as a result of his actions or
failure to act in connection with the operation and administration of the Plan to the extent lawfully allowable and to the extent that such claim, liability, fine, penalty, or expense is not paid for by liability insurance purchased or paid for by
an Employer. Notwithstanding the foregoing, an Employer shall not indemnify any person for any such amount incurred through any settlement or compromise of any action unless the Employer consents in writing to such settlement or compromise.

  

	10.10	Governing Law. The Plan will be construed, administered and enforced according to ERISA, and to the extent not preempted thereby, the laws of the State of California.

  

 - 17 - 

 ARTICLE 11 – PLAN ADMINISTRATION 
  

	11.1	Powers and Responsibilities of the Administrator. The Administrator has the full power and the full responsibility to administer the Plan in all of its details, subject,
however, to the applicable requirements of ERISA. The Administrator’s powers and responsibilities include, but are not limited to, the following: 

  

	 	(a)	To make and enforce such rules and regulations as it deems necessary or proper for the efficient administration of the Plan; 

  

	 	(b)	To interpret the Plan, its interpretation thereof in good faith to be final and conclusive on all persons claiming benefits under the Plan; 

  

	 	(c)	To decide all questions concerning the Plan and the eligibility of any person to participate in the Plan; 

  

	 	(d)	To administer the claims and review procedures specified in Section 11.2; 

  

	 	(e)	To compute the amount of benefits which will be payable to any Participant, former Participant or Beneficiary in accordance with the provisions of the Plan;

  

	 	(f)	To determine the person or persons to whom such benefits will be paid; 

  

	 	(g)	To authorize the payment of benefits; 

  

	 	(h)	To comply with the reporting and disclosure requirements of Part 1 of Subtitle B of Title I of ERISA; 

  

	 	(i)	To appoint such agents, counsel, accountants, and consultants as may be required to assist in administering the Plan; 

  

	 	(j)	By written instrument, to allocate and delegate its responsibilities, including the formation of an Administrative Committee to administer the Plan. 

  

	11.2	Claims and Review Procedures. 

  

	 	(a)	 Claims Procedure. If any person believes he is being denied any rights or benefits under the Plan, such person may file a claim in writing with the
Administrator. If any such claim is wholly or 

  

 - 18 - 

	 	 
partially denied, the Administrator will notify such person of its decision in writing. Such notification will contain (i) specific reasons for the
denial, (ii) specific reference to pertinent Plan provisions, (iii) a description of any additional material or information necessary for such person to perfect such claim and an explanation of why such material or information is
necessary, and (iv) information as to the steps to be taken if the person wishes to submit a request for review. Such notification will be given within 90 days after the claim is received by the Administrator (or within 180 days, if special
circumstances require an extension of time for processing the claim, and if written notice of such extension and circumstances is given to such person within the initial 90-day period). If such notification is not given within such period, the claim
will be considered denied as of the last day of such period and such person may request a review of his claim. 

  

	 	(b)	Review Procedure. Within 60 days after the date on which a person receives a written notification of denial of claim (or, if written notification is not provided, within 60
days of the date denial is considered to have occurred), such person (or his duly authorized representative) may (i) file a written request with the Administrator for a review of his denied claim and of pertinent documents and (ii) submit
written issues and comments to the Administrator. The Administrator will notify such person of its decision in writing. Such notification will be written in a manner calculated to be understood by such person and will contain specific reasons for
the decision as well as specific references to pertinent Plan provisions. The decision on review will be made within 60 days after the request for review is received by the Administrator (or within 120 days, if special circumstances require an
extension of time for processing the request, such as an election by the Administrator to hold a hearing, and if written notice of such extension and circumstances is given to such person within the initial 60-day period). If the decision on review
is not made within such period, the claim will be considered denied. 

  

	11.3	Plan Administrative Costs. All reasonable costs and expenses (including legal, accounting, and employee communication fees) incurred by the Administrator in administering the
Plan shall be paid by the Employer. 

  

 - 19 - 

 IN WITNESS WHEREOF, the Plan Sponsor by its duly authorized officer(s), has caused the Plan as amended and restated
effective as of January 1, 2005 to be adopted on the 24th day of October, 2007. 
  

			
	SVB FINANCIAL GROUP
		
	By:	 	 /s/ KENNETH P. WILCOX

	Title:	 	President and Chief Executive Officer

  

 - 20 - 

 APPENDIX A 
 INVESTMENT OPTIONS 
  

			
	 Ø     SVB Financial Group Stock
	  	 Ø     Fidelity Freedom Fund 2010

		
	 Ø     Fidelity Blue Chip
	  	 Ø     Fidelity Freedom Fund 2015

		
	 Ø     Fidelity Equity Income
	  	 Ø     Fidelity Freedom Fund 2020

		
	 Ø     Spartan US Equity Index
	  	 Ø     Fidelity Freedom Fund 2025

		
	 Ø     Fidelity Mid-Cap Stock
	  	 Ø     Fidelity Freedom Fund 2030

		
	 Ø     Franklin Small/Mid Cap Growth
	  	 Ø     Fidelity Freedom Fund 2035

		
	 Ø     American Century Small Company
	  	 Ø     Fidelity Freedom Fund 2040

		
	 Ø     Strong Advisor Small Cap
	  	 Ø     Fidelity Freedom Income

		
	 Ø     Fidelity Diversified International
	  	 Ø     Fidelity Government Income

		
	 Ø     Fidelity Freedom Fund 2000
	  	 Ø     PIMCO Low Duration Bond

		
	 Ø     Fidelity Freedom Fund 2005
	  	 Ø     Fidelity Retirement Money Market

		
	 Ø     Hotchkis and Wiley Large Cap Value Fund
	  	 Ø     Legg Mason Partners Aggressive Growth Fund

  

 - i -SVB Financial Group Change in Control Severance Plan

 Exhibit 10.27 
 SVB FINANCIAL GROUP 
 CHANGE IN CONTROL SEVERANCE PLAN AND 
 SUMMARY PLAN DESCRIPTION 
 1.
Introduction. The purpose of this Plan is to provide assurances of specified severance benefits to eligible key employees of the Company whose employment is subject to being involuntarily terminated (other than for Cause, death or permanent
disability) or they resign from such employment for Good Reason following a Change in Control. The Company recognizes that the potential of a Change in Control can be a distraction to key employees and can cause such key employees to consider
alternative employment opportunities. The Plan is intended to (i) assure that the Company will have continued dedication and objectivity of its key employees, notwithstanding the possibility, threat or occurrence of a Change in Control and
(ii) provide the Company’s key employees with an incentive to continue their employment and to motivate its key employees to maximize the value of the Company upon a Change in Control for the benefit of its stockholders. This Plan is an
“employee welfare benefit plan,” as defined in Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended. This Plan is governed by ERISA and, to the extent applicable, the laws of the State of California. This
document constitutes both the written instrument under which the Plan is maintained and the required summary plan description for the Plan. 
 2. Important Terms. To help you understand how this Plan works, it is important to know the following terms: 
 (a)
“Administrator” means the Company, acting through the Compensation Committee of the Board or any person to whom the Administrator has delegated any authority or responsibility pursuant to Section 7, but only to the extent of
such delegation. 
 (b) “Base Salary” means the base salary rate in effect for the subject Covered Employee at the time of
termination, or, if greater, as in effect immediately prior to a Change in Control, exclusive of any bonus or other incentive cash compensation, income from any stock options or other equity awards, supplemental deferred compensation contributions
made by the Company, pension or profit sharing contributions or distributions (except as provided below), insurance payments or proceeds, fringe benefits, or other form of additional compensation, but specifically including any amounts withheld from
base salary to provide benefits pursuant to section 125, 401(k), or 402(g) of the Internal Revenue Code or pursuant to any other plan or program of deferred compensation. 
 (c) “Board” means the Board of Directors of the Company. 
 (d) “Cause”
means a Covered Employee’s dismissal or discharge by the Company (or, if applicable, by the successor entity or one of their respective affiliates) for one of the following reasons: (a) the commission by the Covered Employee of an act of
deliberately criminal or fraudulent misconduct in the line of duty to the Company or one of its affiliates, including, but not limited to, the willful violation of any material law, rule, regulation, or cease and desist order applicable to the
Covered Employee or the Company (or one of its affiliates), a deliberate act that constitutes a conflict of interest with the Company or the Company’s stockholders, or a deliberate breach of a fiduciary duty owed by the Covered Employee to the
Company (or one of its affiliates) or the Company’s stockholders; (b) the Covered Employee’s 

 
habitual absence from work, intentional failure to perform stated duties, gross negligence, or gross incompetence in the performance of stated duties;
(c) the Covered Employee’s chronic alcohol or drug abuse that results in a material impairment of the Covered Employee’s ability to perform his or her duties as an employee of the Company (or one of its affiliates) after reasonable
accommodation; (d) the rendering of a verdict of guilty against the Covered Employee for any felony (other than a law relating to a traffic violation or similar offense), whether or not in the line of duty; or (e) the Covered
Employee’s removal from his or her office with the Company or (one of its affiliates) pursuant to an effective order under Section 8(e) of the Federal Deposit Insurance Act 12 U.S.C. Section 1818(e). 
 The termination of a Covered Employee’s employment will be deemed to be for “Cause” if such termination occurs as a result of the death or
permanent disability of the Covered Employee. 
 (e) “Change in Control” means (i) A merger or consolidation of the
Company with any other corporation, other than a merger or consolidation which would result in beneficial owners of the total voting power in the election of directors represented by the voting securities (“Voting Securities”) of
the Company (as the case may be) outstanding immediately prior thereto continuing to beneficially own securities representing (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least fifty
percent (50%) of the total Voting Securities of the Company, or of such surviving entity, outstanding immediately after such merger or consolidation; (ii) the filing of a plan of liquidation or dissolution of the Company or the closing of
the sale, lease, exchange or other transfer or disposition by the Company of all or substantially all of the Company’s assets; (iii) any person (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”)) , other than (A) a trustee or other fiduciary holding securities under an employee benefit plan of the Company, or (B) a corporation owned directly or indirectly by the stockholders of the
Company in substantially the same proportions as their beneficial ownership of stock in the Company, is or becomes the beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act), directly or indirectly, of the securities of the
Company representing fifty percent (50%) or more of the Voting Securities; or (iv) any person (as such term is used in Sections 13(d) or 14(d) of the Exchange Act), other than (A) a trustee or other fiduciary holding securities under
an employee benefit plan of the Company, or (B) a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock in the Company, is or becomes the beneficial owner
(within the meaning or Rule 13d-3 under the Exchange Act), directly or indirectly, of the securities of the Company representing twenty-five percent (25%) or more of the Voting Securities of such corporation, and within twelve (12) months
of the occurrence of such event, a change in the composition of the Board occurs as a result of which sixty percent (60%) or fewer of the Directors are Incumbent Directors. 
 (f) “Company” means SVB Financial Group, a Delaware corporation, and any successor by merger, acquisition, consolidation or otherwise
that assumes the obligations of the Company under the Plan. 
 (g) “Covered Employee” means an employee of the Company who
has been designated by the Administrator to participate in the Plan. Each such designated employee will be a Tier 1, Tier 2 or Tier 3 Covered Employee as defined below. 

 (h) “Determination Period” means the time period beginning on the date of the Change in
Control and ending twenty-four (24) months following the Change in Control. 
 (i) “Effective Date” means
March 13, 2006. 
 (j) “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
 (k) “Good Reason” means the occurrence of any of the following events without the Covered Employee’s express written consent:
(i) the material, involuntary reduction in the Covered Employee’s responsibilities, authorities or functions as an employee of the Company and/or affiliate thereof as in effect immediately prior to a Change in Control, except in connection
with the termination of the Covered Employee’s employment for death, disability, retirement, fraud, misappropriation, embezzlement or any listed exclusion from the definition of Cause; (ii) a material reduction in the Covered
Employee’s Base Salary; (iii) a reduction in the Covered Employee’s Total Compensation to less than 85% of the amount provided to the Covered Employee for the last full calendar year immediately preceding the occurrence of a Change in
Control; or (iv) a relocation of the Covered Employee to a location more than fifty (50) miles from the location at which the Covered Employee performed the Covered Employee’s duties prior to a Change in Control, except for required
travel by the Covered Employee on the Company’s business to an extent substantially consistent with the Covered Employee’s business travel obligations at the time of a Change in Control. 
 (l) “Incumbent Directors” means members of the Board who either (A) are members of the Board as of the date hereof, (B) are
elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the members of the Board who are Incumbent Directors described in (A) above at the time of such election or nomination, or (C) are
elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the members of the Board who are Incumbent Directors described in (A) or (B) above at the time of such election or nomination.
Notwithstanding the foregoing, “Incumbent Directors” will not include an individual whose election or nomination to the Board occurs in order to provide representation for a person or group of related persons who have initiated or
encouraged an actual or threatened proxy contest relating to the election of members of the Board. 
 (m) “Involuntary
Termination” means a termination of employment of a Covered Employee under the circumstances described in Section 4(a). 
 (n)
“Plan” means this SVB Financial Group Change in Control Severance Plan, as set forth in this document, and as hereafter amended from time to time. 
 (o) “Severance Benefit” means the compensation and other benefits the Covered Employee will be provided pursuant to Section 4. 
 (p) “Tier 1 Covered Employee” means the Company’s Chief Executive Officer. 
 (q) “Tier 2 Covered Employee” means the Company’s Chief Financial Officer, Chief Operating Officer and Chief Strategy Officer.

 (r) “Tier 3 Covered Employee” means all individuals designated as executive officers by
the Company not already included as a Tier 1 or Tier 2 Covered Employee. 
 (s) “Total Compensation” means the amount of
compensation paid by the Company to a Covered Employee with respect to the calendar year immediately preceding the occurrence of a Change in Control. Such amount will include the following amounts paid with respect to such calendar year: the Covered
Employee’s Base Salary, any annual target incentive compensation, and any amounts withheld from the Covered Employee’s base salary or bonus to provide benefits pursuant to section 125, 401(k), or 402(g) of the Internal Revenue Code or
pursuant to any other plan or program of deferred compensation. Such amount will exclude any bonus declared or paid from the warrant incentive plan of the Company, overtime pay, any income from any stock options or other equity awards, supplemental
deferred compensation contributions made by the Company, pension or profit sharing contributions or distributions (except included above), insurance payments or proceeds, fringe benefits, amounts payable under the Company’s Retention Program
Plan) and other forms of additional compensation. Notwithstanding the foregoing, any annual incentive compensation declared for the calendar year immediately the occurrence of a Change in Control will relate to the Covered Employee’s
performance in the preceding calendar year. 
 3. Eligibility for Severance Benefit. An individual is eligible for the Severance
Benefit under the Plan, in the amount set forth in Section 4, only if he or she is a Covered Employee on the date he or she experiences an Involuntary Termination and executes, and does not revoke, a release in favor of the
Company as required by Section 4(c). 
 4. Severance Benefits. 
 (a) Triggering Event. A Covered Employee will receive the benefits described in Section 4(b) if at any time within the Determination
Period the Company (or any parent or subsidiary of the Company) terminates such Covered Employee’s employment without Cause, or 
 (i) at any time within the Determination Period the Covered Employee terminates employment with the Company (or any parent or subsidiary of the Company) following the occurrence of a Good Reason event, provided that such termination shall
not be considered to have occurred for Good Reason unless the Covered Employee provides written notice to the Company within 90 days after the occurrence of the Good Reason event and the Company fails to cure the issues that Executive believes
constitute Good Reason within 30 days after receipt of such notice, and 
 the Covered Employee complies with the other requirements of this Section.

 (ii) Benefits. Severance Benefit. 
 (1) Tier 1 Covered Employee. Each Tier 1 Covered Employee will be entitled to receive a lump sum cash payment equal to 300% of his or her Base Salary and target incentive bonus for the year during which such
termination occurs. 

 (2) Tier 2 Covered Employee. Each Tier 2 Covered Employee will be entitled to receive a lump sum
cash payment equal to 200% of his or her Base Salary and target incentive bonus for the year during which such termination occurs. 
 (3)
Tier 3 Covered Employee. Each Tier 3 Covered Employee will be entitled to receive a lump sum cash payment equal to 100% of his or her Base Salary and target incentive bonus for the year during which such termination occurs. 
 (iii) Such payment will be made within 60 days after the release required by Section 4(c) becomes effective. Continued Medical Benefits. If
the Covered Employee, and any spouse and/or dependents of the Covered Employee (“Family Members”) has medical and dental coverage on the date of Covered Employee’s termination of employment under a group health plan sponsored
by the Company, the Company will pay or reimburse Covered Employee for the total applicable premium cost for medical, dental and vision coverage under the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended, and all applicable
regulations (referred to collectively as “COBRA”) for Covered Employee and his or her Family Members for a period of up to twelve (12) months. 
 Notwithstanding the forgoing provisions of this Section 4(b)(ii), the Company will have no obligation to reimburse the Covered Employee for the premium cost of COBRA coverage beginning on or after the date the
Covered Employee and his Family Members first become eligible to obtain comparable benefits from a subsequent employer. 
 (iv) 

(v) Outplacement Services. The Company shall provide a Covered Employee with outplacement services under the terms and conditions of the
Company’s personnel policies in effect immediately prior to the occurrence of a Change in Control. 
 (b) Parachute Payments. In
the event that the Severance Benefits provided for in this Plan or otherwise payable or provided to the Covered Employee without regard to any additional payments required under this Section 4(b) (a “Payment”)
(i) constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and (ii) but for this Section 4(b), would be subject to the excise
tax imposed by Section 4999 of the Code (the “Excise Tax”), then if the Covered Employee’s Payments are equal to or are less than 330% of the Covered Employee’s “base amount” (as such term is defined in
Section 280G(b)(3) and the Treasury Regulations promulgated thereunder), then the Covered Employee’s Severance Benefits will be delivered as to such lesser extent which would result in no portion of such Payments being subject to the
Excise Tax. 
 If the Covered Employee’s Payments are greater than 330% of the Covered Employee’s “base amount” (as such
term is defined in Section 280G(b)(3) and the Treasury Regulations promulgated thereunder), then the Covered Employee will be entitled to receive an additional cash payment (a “Gross-Up Payment”) from the Company in an amount
equal to the sum of the Excise Tax and an amount sufficient to pay the cumulative Excise Tax and all cumulative income taxes (including any interest and penalties imposed with respect to such taxes) relating to the Gross-Up Payment so that the net
amount retained by Covered Employee is equal to all payments to which Employee is entitled pursuant to the terms of this Agreement (excluding the Gross-Up Payment) or otherwise less income taxes (but not reduced by the Excise Tax or by income taxes
attributable to the Gross-Up Payment). 

 Unless the Company and the Covered Employee otherwise agree in writing, any determination required under
this Section 4(b) will be made in writing in good faith by the accounting firm serving as the Company’s independent public accountants immediately prior to the Change in Control (the “Accountants”). In the event of a
reduction in benefits hereunder, the Covered Employee will be given the choice of which benefits to reduce. For purposes of making the calculations required by this Section 4(b), the Accountants may make reasonable assumptions and
approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and the Covered Employee will furnish to the Accountants such information
and documents as the Accountants may reasonably request in order to make a determination under this Section. The Company will bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this
Section 4(b). 
 The Gross-Up Payment will be made no later than 
 (1) the end of the Covered Employee’s taxable year next following the taxable year in which the Covered Employee remits payment of the Excise Tax
or 
 (c) in the event that liability for the Excise Tax is subject to audit or litigation, the end of the Covered Employee’s taxable
year following the taxable year in which the Excise Tax is remitted to the taxing authority, or where as a result of such audit or litigation no taxes are remitted, the end of the Covered Employee’s taxable year following the taxable year in
which the audit is completed or there is a final and nonappealable settlement or other resolution of the litigation.Release. As a condition to receiving Severance Benefits under this Plan, each Covered Employee will be required to execute and
not revoke a general release of claims in favor of the Company in a form reasonably acceptable to the Company. The release will cover all claims arising out of the Covered Employee’s Involuntary Termination and employment with the Company and
its subsidiaries and affiliates. 
 (d) Noncompetition and Nonsolicitation. 
 (i) Noncompetition. Unless the Company provides otherwise in writing, the Covered Employee’s right to receive the severance payments set
forth in Section 4(b) (to the extent Covered Employee is otherwise entitled to such payments) will be conditioned upon the Covered Employee not directly or indirectly engaging in (whether as an employee, consultant, agent, proprietor,
principal, partner, stockholder, corporate officer, director or otherwise), nor having any ownership interest in or participating in the financing, operation, management or control of, any person, firm, corporation or business that competes with
Company (or any parent or subsidiary of the Company) or is a customer of the Company (or any parent or subsidiary of the Company) for the following period of time following an Involuntary Termination: eighteen (18) months with respect to a Tier
1 Covered Employee, twelve (12) months with respect to a Tier 2 Covered Employee and six (6) months with respect to a Tier 3 Covered Employee; provided, however, that nothing in this Section 4(c) will prevent the Covered Employee from
owning as a passive investment less than 1% of the outstanding shares of the capital stock of a publicly-held corporation if such shares are actively traded on the New York Stock Exchange or the Nasdaq National Market or similar market or medium.
Upon any breach of this section, all Severance Benefits pursuant to Section 4(b) will immediately cease and 

 
the Company will be entitled to monetary damages (not to exceed the value of the applicable Severance Benefits actually paid pursuant to Section 4(b))
or equitable relief in the event of a breach of such covenant. 
 (ii) Nonsolicitation. Unless the Company provides otherwise in
writing, the Covered Employee’s right to receive the severance payments set forth in Section 4(a) (to the extent Covered Employee is otherwise entitled to such payments) will be conditioned upon the Covered Employee not, either directly or
indirectly, soliciting, inducing, attempting to hire, recruiting, encouraging, taking away, hiring any employee of the Company or causing an employee to leave his or her employment either for the Covered Employee or for any other entity or person
for the following period of time following any Involuntary Termination: eighteen (18) months with respect to a Tier 1 Covered Employee, twelve (12) months with respect to a Tier 2 Covered Employee and six (6) months with respect to a
Tier 3 Covered Employee. Upon any breach of this section, all Severance Benefits pursuant to Section 4(a) will immediately cease and the Company will be entitled to monetary damages (not to exceed the value of the applicable Severance Benefits
actually paid pursuant to Section 4(a)) or equitable relief in the event of a breach of such covenant. 
 (e) Termination of
Benefits. Benefits under this Plan will terminate immediately for a Covered Employee if such Covered Employee, at any time, (i) violates any proprietary information or confidentiality obligation to the Company, or (ii) fails to follow
the terms and conditions of this Plan, including, without limitation, compliance with the provisions of Section 4(d). 
 (f)
Non-Duplication of Benefits. Notwithstanding any other provision in the Plan to the contrary, the Severance Benefits and other benefits provided hereunder will be in lieu of any other severance and/or retention plan benefits and the Severance
Benefits and other benefits provided hereunder will be reduced by any severance paid or provided to a Covered Employee under any other plan or arrangement. 
 (g) Reduction of Benefits. The Company, in its sole discretion, will have the authority to reduce a Covered Employee’s Severance Benefits hereunder by any other severance benefits, pay in lieu of notice,
or other similar benefits payable to the Covered Employee by the Company that become payable in connection with a written employment or severance agreement between the Covered Employee and the Company. The Company will not have the authority to
reduce a Covered Employee’s Severance Benefits, in whole or in part, based upon any payment to the Covered Employee for any period of time when services to the Company are provided (including, without limitation, payment following notice
pursuant to the Worker Adjustment and Retraining Notification (the “WARN Act”) or any similar foreign, federal or state law. 
 5.
Vacation Days. Any unused vacation pay accrued as of a Covered Employee’s date of Involuntary Termination will be paid at the time of the Covered Employee’s termination of employment. No Covered Employee may use any accrued but
unused vacation pay to extend his or her Involuntary Termination date or to postpone or delay the start of his or her Severance Period. 
 6.
Withholding. The Company will withhold from any Severance Benefit all federal, state, local and other taxes required to be withheld therefrom and any other required payroll deductions. 

 7. Administration. The Company is the administrator of the Plan (within the meaning of
Section 3(16)(A) of ERISA). The Plan will be administered and interpreted by the Administrator (in his or her sole discretion). The Administrator is the “named fiduciary” of the Plan for purposes of ERISA and will be subject to the
fiduciary standards of ERISA when acting in such capacity. Any decision made or other action taken by the Administrator with respect to the Plan, and any interpretation by the Administrator of any term or condition of the Plan, or any related
document, will be conclusive and binding on all persons and be given the maximum possible deference allowed by law. The Administrator has the authority to act for the Company (in a non-fiduciary capacity) as to any matter pertaining to the Plan;
provided, however, that this authority does not apply with respect to (a) the Company’s power to amend or terminate the Plan or (b) any action that could reasonably be expected to increase significantly the cost of the Plan is
subject to the prior approval of the senior officer of the Company. The Administrator may delegate in writing to any other person all or any portion of his or her authority or responsibility with respect to the Plan. 
 8. Eligibility to Participate. The Administrator will not be excluded from participating in the Plan if otherwise eligible, but he or she is not
entitled to act or pass upon any matters pertaining specifically to his or her own benefit or eligibility under the Plan. The Administrator will act upon any matters pertaining specifically to the benefit or eligibility under the Plan. 

9. Amendment or Termination. Other than as expressly provided by Section 10, this Plan cannot be amended, altered, suspended or terminated
in a manner that adversely affects a Covered Employee except upon six (6) months prior written notice by the Company to the affected Covered Employee, which notice cannot be given (i) after the occurrence of a Change in Control, or
(ii) following or in connection with the approval by the Board of a Change in Control (unless such Change in Control is not reasonably expected to occur); provided, however, that no such amendment, alteration, suspension or termination will
affect the right to any unpaid benefit of any Covered Employee whose termination date has occurred prior to amendment, alteration, suspension or termination of the Plan. 
 10. Code Section 409A. 
 (a) Amendment. Notwithstanding anything in this Plan to the
contrary, the Company reserves the authority to amend the Plan as it deems necessary or desirable, and without the consent of any Covered Employee or without providing any advance notice of any such amendment, in order to ensure the Plan complies
with Section 409A of the Code and any regulations and other guidance issued thereunder. 
 (b) Distributions. In the event that
the Administrator determines that Section 409A of the Code, or its regulations and other guidance issued thereunder, would require the delay in the payment of any Severance Benefits to a Covered Employee who would be considered a
“Specified Employee” (as defined below), the Administrator will, irrespective of any election to the contrary or any other term of the Plan, delay the payment of Severance Benefits until the date which is at least six (6) months after
the date of the Covered Employee’s termination of employment. For the purposes of this Section 10(b), the term “Specified Employee” means any Covered Employee who would be considered a “Specified Employee” as that term
is defined in Section 409A(a)(2)(B)(i) of the Code. 

 11. Claims Procedure. Any employee or other person who believes he or she is entitled to any
payment under the Plan may submit a claim in writing to the Administrator. If the claim is denied (in full or in part), the claimant will be provided a written notice explaining the specific reasons for the denial and referring to the provisions of
the Plan on which the denial is based. The notice will also describe any additional information needed to support the claim and the Plan’s procedures for appealing the denial. The denial notice will be provided within 90 days after the
claim is received. If special circumstances require an extension of time (up to 90 days), written notice of the extension will be given within the initial 90-day period. This notice of extension will indicate the special circumstances requiring
the extension of time and the date by which the Administrator expects to render its decision on the claim. 
 12. Appeal Procedure. If
the claimant’s claim is denied, the claimant (or his or her authorized representative) may apply in writing to the Administrator for a review of the decision denying the claim. Review must be requested within 60 days following the date the
claimant received the written notice of their claim denial or else the claimant loses the right to review. The claimant (or representative) then has the right to review and obtain copies of all documents and other information relevant to the claim,
upon request and at no charge, and to submit issues and comments in writing. The Administrator will provide written notice of his or her decision on review within 60 days after it receives a review request. If additional time (up to
60 days) is needed to review the request, the claimant (or representative) will be given written notice of the reason for the delay. This notice of extension will indicate the special circumstances requiring the extension of time and the date
by which the Administrator expects to render its decision. If the claim is denied (in full or in part), the claimant will be provided a written notice explaining the specific reasons for the denial and referring to the provisions of the Plan on
which the denial is based. The notice will also include a statement that the claimant will be provided, upon request and free of charge, reasonable access to, and copies of, all documents and other information relevant to the claim and a statement
regarding the claimant’s right to bring an action under Section 502(a) of ERISA. 
 13. Source of Payments. All Severance
Benefits will be paid in cash from the general funds of the Company; no separate fund will be established under the Plan; and the Plan will have no assets. No right of any person to receive any payment under the Plan will be any greater than the
right of any other general unsecured creditor of the Company. 
 14. Inalienability. In no event may any current or former employee of
the Company or any of its subsidiaries or affiliates sell, transfer, anticipate, assign or otherwise dispose of any right or interest under the Plan. At no time will any such right or interest be subject to the claims of creditors nor liable to
attachment, execution or other legal process. 
 15. No Enlargement of Employment Rights. Neither the establishment or maintenance of
the Plan, any amendment of the Plan, nor the making of any benefit payment hereunder, will be construed to confer upon any individual any right to be continued as an employee of the Company. The Company expressly reserves the right to discharge any
of its employees at any time, with or without cause. 
 16. Applicable Law. The provisions of the Plan will be construed, administered
and enforced in accordance with ERISA and, to the extent applicable, the laws of the State of California. 

 17. Severability. If any provision of the Plan is held invalid or unenforceable, its invalidity or
unenforceability will not affect any other provision of the Plan, and the Plan will be construed and enforced as if such provision had not been included. 
 18. Headings. Headings in this Plan document are for purposes of reference only and will not limit or otherwise affect the meaning hereof. 
 19. Indemnification. The Company hereby agrees to indemnify and hold harmless the officers and employees of the Company, and the members of its
boards of directors, from all losses, claims, costs or other liabilities arising from their acts or omissions in connection with the administration, amendment or termination of the Plan, to the maximum extent permitted by applicable law. This
indemnity will cover all such liabilities, including judgments, settlements and costs of defense. The Company will provide this indemnity from its own funds to the extent that insurance does not cover such liabilities. This indemnity is in addition
to and not in lieu of any other indemnity provided to such person by the Company. 
 20. Additional Information. 
  

			
	Plan Name:	  	SVB Financial Group Change in Control Severance Plan
		
	Plan Sponsor:	  	SVB Financial Group
		  	3003 Tasman Drive
		  	Santa Clara, CA 95054
		
	Identification Numbers:	  	EIN: 91-1962278
		  	PLAN: 506
		
	Plan Year:	  	Calendar year
		
	Plan Administrator:	  	SVB Financial Group
		  	Attention: Head of Human Resources
		  	3003 Tasman Drive
		  	Santa Clara, CA 95054
		
		  	(408) 654-7400
		
	Agent for Service of	  	
	Legal Process:	  	SVB Financial Group
		  	Attention: General Counsel
		  	3003 Tasman Drive
		  	Santa Clara, CA 95054
		
		  	(408) 654-7400

			
		
		  	Service of process may also be made upon the Plan Administrator.
		
	Type of Plan	  	Severance Plan/Employee Welfare Benefit Plan
		
	Plan Costs	  	The cost of the Plan is paid by the Company.

 21. Statement of ERISA Rights. As a Covered Employee under the Plan, you have certain
rights and protections under ERISA: 
 (a) You may examine (without charge) all Plan documents, including any amendments and copies of all
documents filed with the U.S. Department of Labor, such as the Plan’s annual report (IRS Form 5500). These documents are available for your review in the Company’s Human Resources Department. 
 (b) You may obtain copies of all Plan documents and other Plan information upon written request to the Plan Administrator. A reasonable charge may be
made for such copies. 
 In addition to creating rights for Covered Employees, ERISA imposes duties upon the people who are responsible for
the operation of the Plan. The people who operate the Plan (called “fiduciaries”) have a duty to do so prudently and in the interests of you and the other Covered Employees. No one, including the Company or any other person, may fire you
or otherwise discriminate against you in any way to prevent you from obtaining a benefit under the Plan or exercising your rights under ERISA. If your claim for a severance benefit is denied, in whole or in part, you must receive a written
explanation of the reason for the denial. You have the right to have the denial of your claim reviewed. (The claim review procedure is explained in Sections 11 and 12 above.) 
 Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request materials and do not receive them within
30 days, you may file suit in a federal court. In such a case, the court may require the Plan Administrator to provide the materials and to pay you up to $110 a day until you receive the materials, unless the materials were not sent because of
reasons beyond the control of the Plan Administrator. If you have a claim which is denied or ignored, in whole or in part, you may file suit in a state or federal court. If it should happen that you are discriminated against for asserting your
rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court. 
 In any case, the court will
decide who will pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds that your
claim is frivolous. 
 If you have any questions regarding the Plan, please contact the Plan Administrator. If you have any questions about
this statement or about your rights under ERISA, you may contact the nearest area office of the Employee Benefits Security Administration (formerly the Pension and Welfare Benefits Administration), U.S. Department of Labor, listed in your telephone
directory, or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W. Washington, D.C. 20210. You may also obtain certain publications about your rights
and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration. 

 22. Execution. 
 In Witness Whereof, the Company, by its duly authorized officer, has executed this Plan on the date indicated below. 
  

			
	SVB Financial Group
		
	By:	 	 /s/ KENNETH P. WILCOX

	Name:	 	Kenneth P. Wilcox
	Title:	 	President and Chief Executive Officer
	Date:	 	October 24, 2007

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