Document:

Confidential Separation Agreement - Steven C. Smith

 Exhibit 10.1 
  
 CONFIDENTIAL SEPARATION AGREEMENT 
 AND GENERAL RELEASE OF CLAIMS 
  
 This Agreement sets forth the agreement between Greater Bay Bancorp (the “Company”) and Steven C. Smith (“Smith”) regarding Smith’s retirement, and entitlement to employee benefits, from the Company. 
  
 The Company and Smith agree as follows: 
  
 1. Retirement from Office; Employment Termination; Consulting Agreement;
Appointment to and Resignation from Board Memberships. Effective on the date specified in the next sentence (the “Retirement Date”), Smith shall retire from all positions he holds with the Company and each of its subsidiaries and
affiliates and his employment with the Company and its subsidiaries and affiliates will terminate on that date. Smith agrees to continue in his employment with the Company until 30 days after the Company hires a replacement chief financial officer,
but in no event later than December 31, 2003. At the beginning of such 30-day period, Smith shall resign as Chief Financial Officer and, during such period, he shall assist the new chief financial officer in a transitional capacity. Beginning on the
day following the Retirement Date, Smith will provide consulting services to the Company pursuant to a Consulting Agreement in the form attached hereto as Exhibit A. On or before the Retirement Date, the Company will cause Smith to be appointed to
the board of directors of its subsidiary Cupertino National Bank or, if Cupertino National Bank ceases to be a subsidiary of the Company, to the advisory board for its Cupertino National Bank subsidiary. Except for such membership on the board of
directors or advisory board of Cupertino National Bank, effective as of the Retirement Date, Smith will resign from any and all board memberships, offices, trusteeships and management positions in which he serves on behalf of the Company’s
subsidiaries and affiliated entities. 
  
 2. Bonus Compensation
for 2003. If and when the Company pays its executive officers bonuses relating to 2003 performance (which, if bonuses are paid, is expected to be in or about February 2004), the Company shall pay Smith a bonus for 2003 in an amount based upon
the performance of Smith and the Company during 2003 and prorated for the portion of 2003 that Smith was an employee of the Company. 
  
 3. Continuation of Benefits. Smith will continue to participate in the Company’s employee benefit programs, including the Greater Bay Bancorp
401(k) Plan and the Company’s group health insurance coverage and dental, life and disability insurance programs, through the Retirement Date. As of the day following the Retirement Date, Smith will no longer actively participate in the
Company’s 401(k) Plan, and Smith will not be entitled to participate in any other Company employee benefit program, except to the extent expressly set forth in this Agreement and permitted under the documents governing such program. Smith will
be entitled to receive retirement, life insurance and deferred compensation benefits that have accrued and vested on or before the Retirement Date in accordance with the terms and conditions of the plans or agreements applicable to such benefits.
During the term of Smith’s membership on the board of directors and/or advisory board of Cupertino National Bank, he shall be entitled to continue to participate in the Company’s group health insurance coverage and dental, life and
disability 
  

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 insurance programs on the same terms as apply to other nonemployee members of boards of directors and/or advisory boards
of the Company’s subsidiaries. After Smith’s membership on the board of directors and/or advisory board of Cupertino National Bank has ended, and until Smith is eligible to enroll in Medicare, the Company will continue Smith’s
participation in the Company’s group health insurance coverage, dental, life and disability insurance programs that are applicable to nonemployee directors, if and to the extent permissible under the documents governing such programs.
Notwithstanding the foregoing, during the first 21 months following the Retirement Date, the Company shall pay the cost of Smith’s individual coverage under the Company’s group health insurance program, and any dependent coverage under
such program will be provided on the same financial terms as apply from time to time to employees of the Company. After the first 21 months following the Retirement Date, any and all insurance coverage for Smith and his dependents shall be at
Smith’s own expense. When Smith’s Company provided group health coverage ceases, Smith will be entitled to elect continued group health insurance coverage in accordance with applicable provisions of federal law (COBRA) at his own expense.
On the Retirement Date, the Company shall make payment to Smith of all wages earned, including accrued but unused vacation, through the Retirement Date. 
  
 4. Stock Option Agreements. During his employment with the Company, Smith has participated in the Company’s 1996 Stock Option Plan, as
amended. Smith’s rights under such plan and the agreements evidencing his prior stock option grants shall remain in full force and effect, and Smith shall continue to be entitled to receive the benefits specified therein in accordance with the
terms and conditions of the plan and such agreements and this Agreement. Smith’s stock options under his prior stock option grants will continue to vest as though his Service (as such term is used in such plan and stock option agreements)
continued for a period of 30 months following the Retirement Date and ended at that time, without regard to whether or not such Service in fact continues. This Agreement shall be considered to amend each of Smith’s stock option agreements in
this respect. During the term of Smith’s membership on the board of directors and/or advisory board of Cupertino National Bank, he shall be given the same rights with respect to stock options as apply to other nonemployee members of boards of
directors and/or advisory boards of the Company’s subsidiaries. 
  
 Smith understands that those of his stock options that are incentive stock options may become non-statutory options as a result of the arrangements set forth in this letter, the timing of their exercise or both. Smith also understands that
he may recognize taxable income, equal to the “spread” on the option shares, if and when he exercises stock options that are or become non-statutory options, even if he does not then sell the option shares, and that the exercise of such
stock options may then require withholding payments to tax authorities. Accordingly, consistent with Section 6(d) of the Company’s 1996 Stock Option Plan, as amended, and as a condition to the exercise of any stock option, in addition to the
exercise price, Smith shall pay the Company (or make arrangements for payment satisfactory to the Company of) any and all federal, state and other tax withholding obligations that arise in connection with the exercise. 
  
 5. Release of Claims. 
  
 (a) In exchange for the payments and benefits described herein and in the
Consulting Agreement, Smith releases the Company and its shareholders, subsidiaries, directors, employees, agents, attorneys, legal successors and assigns of and from any and all claims, actions and causes of action, whether now known or unknown,
which Smith now has, or at any time had, or may 
  

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 have against the Company or any of such other persons based upon or arising out of any matter, cause, fact, thing, act or
omission whatsoever occurring or existing at any time to and including the date hereof. This release specifically includes, but is not limited to, any and all claims under the Company’s Termination & Layoff Pay Plans and Change in Control
Pay Plans; any claims for base or bonus compensation, severance pay, wages, benefits, wrongful termination, breach of contract, defamation, fraud, misrepresentation; any claims of discrimination based upon national origin, race, color, religion,
age, sex, marital status, handicap, medical condition or other discrimination under the Civil Rights Act of 1964, the Age Discrimination In Employment Act of 1967 as amended by the Older Workers Benefit Protection Act, the Americans With
Disabilities Act, the California Fair Employment and Housing Act, or any other applicable law; and any claims arising under and/or violations of any statutes, rules, regulations or ordinances whether federal, state or local, including, without
limitation, the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). As used in this Agreement, the term “Company” includes any and all parents, divisions, subsidiaries or affiliated entities of Greater Bay
Bancorp. 
  
 (b) Smith acknowledges and agrees that he was
provided 21 days to consider this Agreement and to consult with legal counsel and have the opportunity to receive independent legal advice with respect to the matters set forth in this Agreement and has been encouraged to do so. To the extent that
Smith has taken less than 21 days to consider this Agreement, Smith acknowledges that Smith has had sufficient time to consider the Agreement and to consult with counsel and that Smith did not desire or need additional time. 
  
 (c) Smith may revoke this Agreement during the period of seven calendar days
following Smith’s execution of this Agreement. The revocation must be in writing, must specifically revoke this Agreement, and must be directed to David Kalkbrenner at Greater Bay Bancorp, 400 Emerson Street, Palo Alto, California 94301, or
faxed to him at facsimile number 650-473-9419. 
  
 (d) Smith
represents that he has not filed any notice, complaint or charges against the Company with any local, state or federal court or agency based upon events occurring prior to the date of execution of this Agreement. Smith agrees that he will not, in
the future, file, instigate or encourage the filing of any proceeding or lawsuit by any party against the Company in any local, state or federal court or agency, except to the extent required to enforce Smith’s rights under this Agreement.
Smith further agrees that he will not in the future cooperate or participate in any such lawsuit or proceedings except in accordance with this Agreement and as otherwise required by law. 
  
 6. Waiver of Statute and Release of Unknown Claims. Smith acknowledges that he has read section 1542 of the Civil
Code of the State of California, which states: 
  
 A general
release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor. 
  
 Smith waives any right or benefit that he has under section 1542 of the Civil
Code of the State of California to the full extent that Smith may lawfully waive such rights and benefits pertaining to the subject matter of this general release of claims. Thus, notwithstanding the provisions of section 1542 of the Civil Code of
the State of California, and for the purpose of implementing a full and complete release and discharge of all claims, Smith expressly agrees that 
  

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 this general release also includes in its effect, without limitation, all claims that Smith does not know or suspect to
exist in his favor at the time of execution hereof, and that this general release extinguishes any and all such claims. 
  
 7. No Admission of Liability. By entering into this Agreement, the Company does not suggest or admit to any liability to Smith or that it or anyone
else violated any law or any duty or obligation to Smith. 
  
 8.
No Disparagement. Neither party will make any negative, disparaging, detrimental or derogatory comments to any third party concerning the other party, or, with respect to the Company, concerning any of its current and former officers,
directors, shareholders, employees, representatives, attorneys and agents, as well as its predecessors, parents, subsidiaries, affiliates, divisions, and successors in interest. 
  
 9. Confidentiality. Smith agrees that he will not disclose to any person or otherwise use any proprietary or
confidential information, including trade secrets, customer lists, processes, records of research, proposals, reports, methods, processes, techniques, computer software or programming, or budgets or other financial information, regarding the
Company, its business, properties, customers or affairs (“Confidential Information”) obtained by Smith at any time during his employment by the Company. Smith may use and disclose Confidential Information to the extent necessary to assert
any right or defend against any claim arising under this Agreement if necessary to comply with any law or valid legal process. Smith agrees that he has not removed any documents, records or other information from the premises of the Company
containing any such Confidential Information and acknowledges that such documents, records and other information are the exclusive property of the Company. 
  
 In addition, Smith agrees that he will not disclose any of the terms of this Agreement to anyone other than his immediate family or legal counsel, except
as such disclosure may be required for accounting or tax reporting purposes or as otherwise may be required by law. 
  
 10. No Solicitation of Employees. Smith agrees that for the 30-month period following the Retirement Date, he will not, nor will he encourage
others to, directly or indirectly, solicit, recruit, or encourage any current employees of the Company or any of its subsidiaries for employment with another bank, financial institution or insurance brokerage company or any other entity engaged in a
business or activity that is comparable to or competitive with any business or activity of the Company or any of its subsidiaries. If the Company has a good faith belief that Smith has violated the terms of this section, it will immediately cease
making any payments under the terms of this Agreement. Both parties retain the right to seek a determination on any such claimed breach pursuant to Section 12 below. 
  
 11. No Solicitation of Customers. Smith also agrees that for the 30-month period following the Retirement Date, he
will not, nor will he encourage others to, directly or indirectly, solicit, recruit, or encourage any current customers or clients of the Company or any of its subsidiaries to cease doing business with the Company or any of its subsidiaries or to do
business with any other bank, financial institution or insurance brokerage company or any other entity engaged in a business or activity that is comparable to or competitive with any business or activity of the Company or any of its subsidiaries. If
the Company has a good faith belief that Smith has violated the terms of this section, it will immediately cease making payments under 
  

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 the terms of this Agreement. Both parties retain the right to seek a determination on any such claimed breach pursuant to
Section 12 below. 
  
 12. Arbitration. The parties
agree that any and all disputes, controversies or claims of any kind or nature arising out of or relating to this Agreement or the breach or interpretation thereof, including but not limited to any arising out of or in any way related to
Smith’s employment with the Company or the termination thereof, shall be submitted to binding arbitration under the auspices and rules of Judicial Arbitration and Mediation Services, Inc. (“JAMS”) in Santa Clara County, California. In
the event that JAMS is unable or unwilling to conduct any such arbitration or has discontinued its business, the parties agree that any and all such disputes, controversies or claims shall be submitted to binding arbitration under the auspices and
rules of the American Arbitration Association (“AAA”) in Santa Clara County, California. Included within this provision are any claims alleging fraud in the inducement of this Agreement, or relating to the general validity or
enforceability of this Agreement, or claims based on a violation of any local, state or federal law, such as claims for discrimination or civil rights violations under Title VII of the Civil Rights Act of 1964, the California Fair Employment and
Housing Act, the Age Discrimination in Employment Act and the Americans with Disabilities Act. Notice of the demand for arbitration shall be filed in writing with the other party to this Agreement and with JAMS (or AAA, if applicable). In no event
shall the demand for arbitration be made after the date when institution of legal or equitable proceedings based on such claim, dispute or other matter in question would be barred by the applicable statute of limitations. The arbitration shall be
subject to commercial rules and procedures used or established by JAMS (or AAA, if applicable). Notwithstanding anything to the contrary in the JAMS (or AAA, if applicable) rules and procedures, the arbitration shall provide for (i) written
discovery and depositions adequate to give the parties access to documents and witnesses that are essential to the dispute and (ii) a written decision by the arbitrator that includes the essential findings and conclusions upon which the decision is
based. Subject to Section 13 below, the parties shall bear their own costs and attorneys’ fees incurred in conducting the arbitration, and shall split equally the fees and administrative costs charged by the arbitrator and JAMS (or AAA, if
applicable) unless required otherwise by applicable law. Any award rendered by the arbitrator shall be final and binding upon the parties, and as applicable, their respective heirs, beneficiaries, legal representatives, agents, successors and
assigns, and may be entered in any court having jurisdiction thereof. Any arbitration hereunder shall be conducted in Palo Alto, California, unless otherwise agreed to by the parties. 
  
 13. Attorneys Fees. In the event of any arbitration or litigation concerning any controversy, claim or dispute
between the parties hereto, arising out of or relating to this Agreement or the breach hereof, or the interpretation hereof, the prevailing party shall be entitled to recover from the non-prevailing party reasonable expenses, attorneys’ fees
and costs incurred in connection therewith or in the enforcement or collection of any judgment or award rendered therein. The “prevailing party” means the party determined by the arbitrator(s) or court, as the case may be, to have most
nearly prevailed, even if such party did not prevail in all matters, not necessarily the one in whose favor a judgment is rendered. 
  
 14. Successors. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and
assigns; provided, however, that Smith may not assign any interest in this Agreement without the prior written consent of the Company. 
  

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 15. Entire Agreement. This Agreement constitutes the full, complete and final expression of the
parties’ agreement on the subject hereof, and supersedes all prior negotiations and agreements on such subject, whether written or oral. This Agreement may not be modified, altered or amended, either expressly or impliedly, unless in writing
signed both by Smith and by the Company’s Chief Executive Officer. 
  
 16. Severability. Should any provision of this Agreement for any reason be declared invalid, void or unenforceable by an arbitrator or court of competent jurisdiction, the validity and binding effect of any remaining portions of this
Agreement shall remain in full force and effect as if this Agreement had been executed with such invalid, void or unenforceable provisions eliminated; provided, however, that the remaining provisions still reflect the intent of the parties.

  
 17. Applicable Law. This Agreement shall be governed by
and interpreted in accordance with the laws of the State of California, without giving effect to conflict of law provisions. 
  
 18. Joint Participation in Preparation of Agreement. The parties hereto participated jointly in the negotiation and preparation of this Agreement,
and each party has had the opportunity to obtain the advice of legal counsel and to review, comment upon, and redraft this Agreement. Accordingly, it is agreed that no rule of construction shall apply against any party or in favor of any party. This
Agreement and each of its provisions shall be construed as jointly prepared by the parties, and any uncertainty or ambiguity shall not be interpreted against any one party and in favor of the other. 
  
 SMITH UNDERSTANDS THAT HE MAY CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS AGREEMENT AND
THAT HE IS GIVING UP ANY LEGAL CLAIMS, BOTH KNOWN AND UNKNOWN, HE HAS AGAINST THE COMPANY. BY SIGNING THIS AGREEMENT SMITH ACKNOWLEDGES THAT HE DOES SO KNOWINGLY, WILLINGLY AND VOLUNTARILY IN EXCHANGE FOR THE COMPANY’S PAYMENTS AND OBLIGATIONS
UNDER THIS AGREEMENT AND UNDER THE CONSULTING AGREEMENT. 
  

	 	 	 	 	 GREATER BAY BANCORP

				
	 9/29/03

	 	 	 	By:	 	 /s/    David Kalkbrenner        

	Date	 	 	 	 	 	 	 	 David Kalkbrenner
 President and Chief Executive Officer

	 	 	 	 	 
			
	 9/29/03

	 	 	 	 /s/    Steven C. Smith    

	Date	 	 	 	 	 	STEVEN C. SMITH

  
  
  
  

 6Consulting Agreement - Steven C. Smith

 Exhibit 10.2 
  
 CONSULTING AGREEMENT 
  
 This Agreement sets forth the terms and conditions of the agreement under which Steven C. Smith (“Smith”) will perform consulting services for
Greater Bay Bancorp (the “Company”). 
  
 The Company and
Smith agree as follows: 
  
 1. Term. Smith’s
consulting position will begin on the day after the Retirement Date (as that term is defined in the Confidential Separation Agreement and General Release of Claims entered into by Smith and the Company contemporaneously with this Agreement) (the
“Effective Date”), and will continue for a period of 30 months after the Effective Date, or through such date as this arrangement is sooner terminated in accordance with this Agreement (the “Term”). 
  
 2. Services. Smith will be called upon to provide consulting services
for the Company and its subsidiaries in connection with such accounting related projects as the Company’s Chief Executive Officer may specify from time to time during the Term. Smith will not be required to follow a regular daily or weekly work
schedule, but Smith will be expected to provide services for approximately 32 hours per month during the first 21 months of the Term and approximately 16 hours per month during the balance of the Term. Smith will be responsible for specified
deliverables resulting from such projects. Smith will work independently on the projects assigned to him, without direct supervision from the Company and without authority over employees of the Company or its subsidiaries. 
  
 3. Compensation. During the Term, the Company will pay Smith $32,000
per month during the first 21 months of the Term and $16,000 per month during the balance of the Term. If at the request of the Company, Smith is called upon to provide services in excess of the hour expectations set forth in Section 2 above, Smith
will be compensated at the rate of $250 per hour for hours worked in excess of such hour expectations. Each month, Smith shall provide the Company with a statement that he has not worked in excess of the hour expectation for the month set forth in
Section 2 above or evidence of his actual hours worked, within fifteen (15) days following the end of the month, and the Company will pay Smith the additional hourly compensation, if any, for such month within ten (10) days thereafter. 

 
 4. Independent Status. In performing services under this Agreement,
Smith shall act as an independent contractor and not as an employee of the Company. Smith shall control the time, means, manner and method of performing such services. As such, Smith acknowledges that the Company will not withhold any federal or
state income tax and will not pay or withhold the employer or employee share of any FICA, FUTA, SDI or other employment or payroll tax, from or with respect to any payments to be made hereunder. Additionally, Smith acknowledges that the Company will
not cover 
  

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 Smith under any workers’ compensation insurance, retirement plan, or, except as expressly agreed in writing, other
benefit plan maintained by the Company for its employees. Notwithstanding the foregoing, payments under this Agreement may be made through the Company’s regular payroll, subject to withholding and payment of income and employment taxes, if and
to the extent that the Company determines, in its sole discretion, that such withholding and/or payment of taxes is or may be required by law. If Smith serves on the board of directors or advisory board of any subsidiary or division of the Company,
his status as an employee or nonemployee with respect to such service shall be the same as that of the other members of such board. 
  
 5. Expense Reimbursement. Company will promptly reimburse Smith for all reasonable business expenses approved by the Company’s Chief Executive
Officer that Smith incurs during the Term in the performance of his consulting services under this Agreement. 
  
 6. Termination. Smith may terminate this Agreement at any time by giving thirty (30) days written notice of such termination to the Company’s
Chief Executive Officer. This Agreement shall terminate automatically on the date of Smith’s death. The Company may terminate this Agreement for Cause. For such purposes, “Cause” shall mean any of the following that has a material
adverse effect upon the Company: (a) Smith’s deliberate violation of (i) any state or federal banking or securities laws, or of the Bylaws, rules, policies or resolutions of the Company or (ii) of the rules or regulations of the California
Commissioner of Financial Institutions, the Federal Deposit Insurance Corporation, the Federal Reserve Board of Governors, the Office of the Comptroller of the Currency or any other regulatory agency or governmental authority having jurisdiction
over the Company, or (b) Smith’s conviction of (i) any felony or (ii) any crime involving moral turpitude or a fraudulent or dishonest act. 
  
 7. Outside Activities. During the Term, Smith shall not perform more than a total of 64 hours of services in any calendar month for any other
entity or entities, whether for compensation or otherwise, as an employee, consultant or otherwise. During the Term, Smith shall not provide any business or professional services, whether for compensation or otherwise, as an employee, consultant or
otherwise, to any bank, financial institution or insurance brokerage company or any other entity engaged in a business or activity that is comparable to or competitive with any business or activity of the Company or any of its subsidiaries. If the
Company has a good faith belief that Smith has violated the terms of this section, it will immediately cease making payments under the terms of this Agreement. Both parties retain the right to seek a determination on any such claimed breach pursuant
to Section 14 below. 
  
 8. No Solicitation of Employees.
Smith agrees that during the Term, he will not, nor will he encourage others to, directly or indirectly, solicit, recruit, or encourage any current employees of the Company or any of its subsidiaries for employment with another bank, financial
institution or insurance brokerage company or any other entity engaged in a business or activity that is comparable to or competitive with any business or activity of the Company or any of its subsidiaries. If the Company has a good faith

  

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 belief that Smith has violated the terms of this section, it will immediately cease making any payments under the terms
of this Agreement. Both parties retain the right to seek a determination on any such claimed breach pursuant to Section 14 below. 
  
 9. No Solicitation of Customers. Smith also agrees that during the Term, he will not, nor will he encourage others to, directly or indirectly,
solicit, recruit, or encourage any current customers or clients of the Company or any of its subsidiaries to cease doing business with the Company or any of its subsidiaries or to do business with any other bank, financial institution or insurance
brokerage company or any other entity engaged in a business or activity that is comparable to or competitive with any business or activity of the Company or any of its subsidiaries. If the Company has a good faith belief that Smith has violated the
terms of this section, it will immediately cease making payments under the terms of this Agreement. Both parties retain the right to seek a determination on any such claimed breach pursuant to Section 14 below. 
  
 10. Confidential Information. During the Term, Smith may have access
to and become acquainted with trade secrets and confidential information of the Company or its subsidiaries. Smith shall not use or disclose any trade secrets or confidential information or, directly or indirectly, cause them to be used or disclosed
in any manner, except as may be required or requested by the Company, by court order or under applicable law or regulation. 
  
 11. Proprietary Information. Smith expressly agrees that all manuals, documents, files, reports, studies or other materials used and/or
developed by Smith for the Company during the Term or prior thereto while Smith was employed by the Company are solely the property of the Company, and that Smith has no right, title or interest therein. At the end of the Term, Smith shall promptly
deliver possession of all such materials (including any copies thereof) to the Company. 
  
 12. Arbitration. The parties agree that any and all disputes, controversies or claims of any kind or nature arising out of or relating to this Agreement or the breach or interpretation thereof, including
but not limited to any arising out of or in any way related to Smith’s consulting arrangement with the Company or the termination thereof, shall be submitted to binding arbitration under the auspices and rules of Judicial Arbitration and
Mediation Services, Inc. (“JAMS”) in Santa Clara County, California. In the event that JAMS is unable or unwilling to conduct any such arbitration or has discontinued its business, the parties agree that any and all such disputes,
controversies or claims shall be submitted to binding arbitration under the auspices and rules of the American Arbitration Association (“AAA”) in Santa Clara County, California. Included within this provision are any claims alleging fraud
in the inducement of this Agreement, or relating to the general validity or enforceability of this Agreement, or claims based on a violation of any local, state or federal law, such as claims for discrimination or civil rights violations under Title
VII of the Civil Rights Act of 1964, the California Fair Employment and Housing Act, the Age Discrimination in Employment Act and the Americans with Disabilities Act. Notice of the demand for arbitration shall be filed in writing with the other
party to this Agreement and with JAMS (or AAA, if applicable). In no event shall 
  

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 the demand for arbitration be made after the date when institution of legal or equitable proceedings based on such claim,
dispute or other matter in question would be barred by the applicable statute of limitations. The arbitration shall be subject to commercial rules and procedures used or established by JAMS (or AAA, if applicable). Notwithstanding anything to the
contrary in the JAMS (or AAA, if applicable) rules and procedures, the arbitration shall provide for (i) written discovery and depositions adequate to give the parties access to documents and witnesses that are essential to the dispute and (ii) a
written decision by the arbitrator that includes the essential findings and conclusions upon which the decision is based. Subject to Section 15 below, the parties shall bear their own costs and attorneys’ fees incurred in conducting the
arbitration, and shall split equally the fees and administrative costs charged by the arbitrator and JAMS (or AAA, if applicable) unless required otherwise by applicable law. Any award rendered by the arbitrator shall be final and binding upon the
parties, and as applicable, their respective heirs, beneficiaries, legal representatives, agents, successors and assigns, and may be entered in any court having jurisdiction thereof. Any arbitration hereunder shall be conducted in Palo Alto,
California, unless otherwise agreed to by the parties. 
  
 13.
Attorneys Fees. In the event of any arbitration or litigation concerning any controversy, claim or dispute between the parties hereto, arising out of or relating to this Agreement or the breach hereof, or the interpretation hereof, the
prevailing party shall be entitled to recover from the non-prevailing party reasonable expenses, attorneys’ fees and costs incurred in connection therewith or in the enforcement or collection of any judgment or award rendered therein. The
“prevailing party” means the party determined by the arbitrator(s) or court, as the case may be, to have most nearly prevailed, even if such party did not prevail in all matters, not necessarily the one in whose favor a judgment is
rendered. 
  
 14. Successors. This Agreement shall be
binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns; provided, however, that Smith may not assign any interest in this Agreement without the prior written consent of the Company. 

 
 15. Entire Agreement. This Agreement constitutes the full, complete
and final expression of Smith’s consulting arrangement with the Company, and supersedes all prior negotiations and agreements on such subject, whether written or oral. This Agreement may not be modified, altered or amended, either expressly or
impliedly, unless in writing signed both by Smith and by the Company’s Chief Executive Officer. 
  
 16. Severability. Should any provision of this Agreement for any reason be declared invalid, void or unenforceable by an arbitrator or court of
competent jurisdiction, the validity and binding effect of any remaining portions of this Agreement shall remain in full force and effect as if this Agreement had been executed with such invalid, void or unenforceable provisions eliminated;
provided, however, that the remaining provisions still reflect the intent of the parties. 
  

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 17. Applicable Law. This Agreement shall be governed by and interpreted in accordance with the
laws of the State of California, without giving effect to conflict of law provisions. 
  
 18. Joint Participation in Preparation of Agreement. The parties hereto participated jointly in the negotiation and preparation of this Agreement, and each party has had the opportunity to obtain the advice of
legal counsel and to review, comment upon, and redraft this Agreement. Accordingly, it is agreed that no rule of construction shall apply against any party or in favor of any party. This Agreement and each of its provisions shall be construed as
jointly prepared by the parties, and any uncertainty or ambiguity shall not be interpreted against any one party and in favor of the other. 
  
 The parties hereto have executed this Agreement on the dates set forth opposite their signatures below. 
  

	 	 	 	 	 GREATER BAY BANCORP

				
	 9/29/03

 Date
	 	 	 	By:	 	 /s/    David L. Kalkbrenner

	 	 	 	 	 	David Kalkbrenner
	 	 	 	 	 	 	President and Chief Executive Officer
	 9/29/03

 Date
	 	 	 	 	 	 
	 	 	 	 /s/    Steven C. Smith

 STEVEN C. SMITH

	 	 	 	 	 	 

  
  

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