Document:

ex10-17.htm

Exhibit 10-17

    8-K DISCLOSURE
NOTICE

    

    Institutions
subject to SEC regulation may be required to disclosure certain information
regarding this amendment within four days
following implementation of this or any other executive or director
compensation program. Institutions should consult with SEC counsel as to
applicability of this requirement to this amendment.

    

    

    IMPORTANT NOTICE ABOUT THE
PRACTICE OF LAW AND ACCOUNTING

    

    Nothing
in this document should be construed as tax, legal, or accounting
advice.  Benmark does not practice law or accounting.  The
attached Split Dollar Amendment contains recommended changes intended to
facilitate discussion between you and your legal and/or tax
advisor.  Benmark strongly recommends that you seek review by outside
counsel before signing this amendment.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     Amendment

    to
the

    Temecula
Valley Bank

    Split
Dollar Agreement for

    Martin
Plourd

    

    Temecula
Valley Bank (“Company”) and Martin Plourd (“Executive”) originally entered into
the Temecula Valley Bank Split Dollar Agreement (“Agreement”) on December 29,
2006. Pursuant to Section 7 of the Agreement, the Company and the Executive
hereby adopt this Split Dollar Amendment, effective September 30,
2007.

    

    RECITALS

    

    

    1)
Section 2.2.1, “Death During Active Service”, shall be amended to delete the
words “$793,974 (Seven Hundred Ninety-three Thousand Nine Hundred Seventy-four
Dollars)” and to replace them with the words “$992,467 (Nine Hundred Ninety-two
Thousand Four Hundred Sixty-Seven Dollars)”.

    

    

    Therefore,
the foregoing changes are agreed to.

    

    

    

    /s/Stephen H.
Wacknitz                                                                           /s/ Martin
Plourd

    For the
Company                                                                               Martin
Plourd

    

    

    Date:  December
31,
2007                                                                Date:                    December
31, 2007ex10-21.htm

Exhibit 10-21

    8-K DISCLOSURE
NOTICE

    

    Institutions
subject to SEC regulation may be required to disclosure certain information
regarding this amendment within four days
following implementation of this or any other executive or director
compensation program. Institutions should consult with SEC counsel as to
applicability of this requirement to this amendment.

    

    

    IMPORTANT NOTICE ABOUT THE
PRACTICE OF LAW AND ACCOUNTING

    

    Nothing
in this document should be construed as tax, legal, or accounting
advice.  Benmark does not practice law or accounting.  The
attached 409A Amendment contains recommended changes intended to facilitate
discussion between you and your legal and/or tax advisor.  Benmark
strongly recommends that you seek review by outside counsel before signing this
amendment.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    409A
Amendment

    to
the

    Temecula
Valley Bank

    Executive
Supplemental Compensation Agreement for

    Jim
Andrews

    

    Temecula
Valley Bank (“Company”) and Jim Andrews (“Executive”) originally entered into
the Temecula Valley Bank Executive Supplemental Compensation Agreement
(“Agreement”) on December 29, 2006.  Pursuant to Section 8.1 of the
Agreement, the Company and the Executive hereby adopt this 409A Amendment,
effective September 1, 2006.

    

    RECITALS

    

    This
Amendment is intended to bring the Agreement into compliance with the
requirements of Internal Revenue Code Section 409A.  Accordingly, the
intent of the parties hereto is that the Agreement shall be operated and
interpreted consistent with the requirements of Section
409A.  Therefore, the following changes shall be made:

    

    
      	
              1.  

            	
              Section
      1.3, “Change in Control”, shall be deleted in its entirety and replaced
      with the following Section 1.3:

            

    

    

    “Change
in Control” shall mean a change in ownership or control of the Company as
defined in Treasury Regulation §1.409A-3(i)(5) or any subsequently applicable
Treasury Regulation.

    

    
      	
              2.  

            	
              Section
      1.11, “Separation from Service”, shall be deleted in its entirety and
      replaced with the following Section
1.11:

            

    

    

    “Separation
from Service” shall mean the Executive has experienced a termination of
employment with the Bank.  For purposes of this Agreement, whether a
termination of employment or service has occurred is determined based on whether
the facts and circumstances indicate that the Bank and Executive reasonably
anticipated that no further services would be performed after a certain date or
that the level of bona fide services the Executive would perform after such date
(whether as an Executive or as an independent contractor) would permanently
decrease to no more than twenty percent (20%) of the average level of bona fide
services performed (whether as an Executive or an independent contractor) over
the immediately preceding thirty-six (36) month period (or the full period of
services to the Bank if the Executive has been providing services to the Bank
less than 36 months).  Facts and circumstances to be considered in
making this determination include, but are not limited to, whether the Executive
continues to be treated as an Executive for other purposes (such as continuation
of salary and participation in Executive benefit programs), whether similarly
situated service providers have been treated consistently, and whether the
Executive is permitted, and realistically available, to perform services for
other service recipients in the same line of business.  An Executive
will be presumed not to have separated from service where the level of bona fide
services performed continues at a level that is fifty percent (50%) or more of
the average level of service performed by the Executive during the immediately
preceding thirty-six (36) month period.

    

    
      	
              3.  

            	
              Section
      2.1.1, “Amount of Benefit”, shall be amended to delete the words “Eighty
      Thousand Dollars ($80,000)” and to replace them with the words “One
      Hundred Thousand Dollars
($100,000)”.

            

    

    

    
      	
              4.  

            	
              A
      new Section 9.15 shall be added as
follows:

            

    

    

    Certain Accelerated
Payments.  The Bank may make any accelerated distribution
permissible under Treasury Regulation 1.409A-3(j)(4) to the Executive of
deferred amounts, provided that such distribution(s) meets the requirements of
Section 1.409A-3(j)(4).

    

    
      	
              5.  

            	
              A
      new Section 9.16 shall be added as
follows:

            

    

    

    Subsequent Changes to Time
and Form of Payment.  The Bank may permit a subsequent change
to the time and form of benefit distributions.  Any such change shall
be considered made only when it becomes irrevocable under the terms of the
Agreement.  Any change will be considered irrevocable not later than
thirty (30) days following acceptance of the change by the Plan Administrator,
subject to the following rules:

    

    
      	
              (1)  

            	
              the
      subsequent deferral election may not take effect until at least twelve
      (12) months after the date on which the election is
  made;

            

    

    
      	
              (2)  

            	
              the
      payment (except in the case of death, disability, or unforeseeable
      emergency) upon which the subsequent deferral election is made is deferred
      for a period of not less than five (5) years from the date such payment
      would otherwise have been paid; and

            

    

    
      	
              (3)  

            	
              in
      the case of a payment made at a specified time, the election must be made
      not less than twelve (12) months before the date the payment is scheduled
      to be paid.

            

    

    

    

    Therefore,
the foregoing changes are agreed to.

    

    

    

    /s/ Stephen H.
Wacknitz                                                                           /s/ Jim
Andrews

    For the
Company                                                                               Jim
Andrews

    

    

    Date:
December 31,
2007                                                                                     Date:
December 31, 2007ex10-52mcgaughey.htm

    EXHIBIT
NO. 10.52

    FIRST
AMENDMENT TO THE

    WILLIAM
H. McGAUGHEY

    EMPLOYMENT
AGREEMENT

    

    

    This First Amendment (“First Amendment”) to that
certain Employment Agreement dated November 29, 2004, with an effective date of
January 4, 2005 (the “Original
Agreement”), is entered into as of March 10, 2008, and shall be deemed
effective as of July 1, 2007, by and between William H. McGaughey, an individual
(“Executive”), and
Temecula Valley Bank (“Bank”).

    

    R E C I T A L

    

    Pursuant to the recommendation of the
Executive Officer Compensation Committee, with such recommendations adopted by
the Bank's Board of Directors on July 25, 2007, Bank and Executive wish to amend
the Original Agreement as provided in this First Amendment.

    

    A G R E E M E N T

    

    NOW, THEREFORE, in consideration of the
foregoing and the mutual covenants and agreements contained herein, the parties
hereby agree and consent to the amendment of the Original Agreement, effective
on the date hereof, as follows:

    

    1.           Each
reference in the Original Agreement to “Executive Vice President” shall instead
be a reference to “Senior Executive Vice President.”

    

    2.           The
recital of the Original Agreement is hereby deleted and replaced with the
following recital:

     

    “Bank
desires that Executive be employed as Senior Executive Vice
President/Treasurer/Director of Capital Markets and Executive desires to be so
employed    subject to the terms and conditions herein
stated.”

    
    

    

    3.           Section
2.1 of the Original Agreement is hereby deleted and replaced with the
following:

    

    “2.1           Duties.  Executive
shall perform the duties of Treasurer/Director of Capital Markets, as assigned
by Bank's Chief Executive Officer, subject to the powers by law vested in the
Board of Directors of Bank and Bank's shareholders. During the Term, Executive
shall perform the services herein contemplated to be performed by Executive with
due care faithfully, diligently, to the best of Executive's ability and in
compliance with all applicable laws and Bank's Articles of Incorporation and
Bylaws.”

    

    4.           Section
3.2(a) of the Original Agreement is hereby deleted and replaced with the
following:

    

    “3.2           Bonus.

     

    (a) For each
year within the Term, Executive shall be entitled to an annual Incentive Bonus,
determined in accordance with this Section, if the Threshold Test is met. The
Threshold Test shall be deemed to have been met if: (i) Bank's regular outside
independent loan reviewer gives a favorable review of the overall SBA loan
quality of the Bank; and (ii) the latest report of supervisory activity relative
to Bank issued by the Bank's principal bank regulator rates Bank operations no
less than satisfactory. The annual Incentive Bonus shall be the greater of:
$100,000, or .75% of the pre-tax profit of Bank. “Pre-Tax Profit” shall mean the
consolidated net income of Temecula Valley Bancorp Inc. (“Company”) after the payment of
all bonus amounts paid by Bank and before the payment of taxes. The Incentive
Bonus shall be paid on or before March 15 of the calendar year following the
calendar year in which it was earned.”

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
    

    

    5.           Section
3.5 is hereby deleted and replaced with the following:

    

    “3.5           Group Medical and Other
Benefits.  Bank shall provide for Executive's participation in
the medical and other benefit plans offered to other similarly titled employees
of Bank. Executive will also be eligible to participate in an Executive deferred
compensation plan and a salary continuation program, on terms agreeable to Bank
and Executive.”

    

    6.           Section
4.4 is hereby deleted and replaced with the following:

    

    “4.4           Vesting of Options Upon
Change Of Control.  Executive’s option agreements covering
Company stock options to be issued to him, from time to time, shall provide that
in the event of a Change of Control (as defined below), all options shall vest
immediately prior to any Change of Control. “Change of Control” means a
change in the ownership of Bank or Company (Section 1.409A-3(i)(5)(v)) of the
409A regulations of the Internal Revenue Code, a change in the effective control
of Bank or Company (Section 1.409A-3(i)(5)(vi)), or a change in the ownership of
a substantial portion of the assets of Bank or Company (Section
1.409A-3(i)(5)(vii)). Notwithstanding the foregoing, a Change of Control shall
not be deemed to have occurred as a result of any transaction whose primary
purpose is to change the jurisdiction of incorporation of Company or Bank or the
transfer is to an “Affiliate,” as that term is defined in 12 U.S.C. Section
371c.”

    

    7.           A
new Section 6 is added as follows:

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    “6.           Restriction on Timing of
Distributions.

    

    Notwithstanding
any provision of this Agreement to the contrary, distributions to Executive may
not commence earlier than six (6) months after the date of a Separation from
Service (as defined below) (or, if earlier, the date of death of Executive) if,
pursuant to Internal Revenue Code Section 409A, as may be amended from time to
time (“Section 409A”),
Executive is considered a “specified employee” (under Internal Revenue Code
Section 416(i)) of Bank if any stock of Bank or Company is publicly traded on an
established securities market, or otherwise. In the event a distribution is
delayed pursuant to this Section 5, the originally scheduled distribution shall
be delayed for six months, and shall commence instead on the first day of the
seventh month following Separation from Service. If payments are scheduled to be
made in installments, the first six months of installment payments shall be
delayed, aggregated and paid instead on the first day of the seventh month,
after which all installment payments shall be made on their regular schedule. If
payment is scheduled to be made in a lump sum, the lump sum payment shall be
delayed for six months and instead be made on the first day of the seventh
month. “Separation from
Service” shall mean that Executive has experienced a termination of
employment from Bank which will be deemed to have occurred where the facts and
circumstances indicate that Executive and Bank reasonably anticipated that
Executive would permanently reduce his level of bona fide service to Bank to a
level not to exceed 25% of the average level of bona fide services provided to
Bank in the immediately preceding 12 months.”

    

    8.           Continued
Effect.  Except as otherwise expressly provided herein, the
Original Agreement continues in full force and effect, in accordance with its
terms.

    

    9.           Miscellaneous.  This
First Amendment will be governed in all respects by the laws of the State of
California as such laws are applied to agreements between California residents
entered into and to be performed entirely within California. This First
Amendment constitutes the full and entire understanding and agreement between
the parties with regard to the subjects hereof and supersedes all prior written
and oral agreements, representations and commitments, if any, between the
parties with respect to such subjects. This First Amendment may be executed in
any number of counterparts, each of which will be an original, but all of which
together will constitute one instrument.

    

    IN WITNESS WHEREOF, the parties hereto
have executed this First Amendment as of the effective date established in the
first paragraph of this First Amendment.

    

    EXECUTIVE

    

    

    /s/ William H.
McGaughey

    William H. McGaughey

    

    

    

    TEMECULA VALLEY BANK

    

    

    By:           /s/ Stephen H.
Wacknitz

    Stephen
H. Wacknitz

    President
and Chief Executive Officer

    
      
         

      

      
        3

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