Document:

Exhibit 4.38

 

NEITHER THIS SECURITY
NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE
TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES
ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH
SECURITIES.

 

COMMON STOCK PURCHASE WARRANT

 

GenSpera,
Inc.

 

	Warrant Shares: [*]	Initial Exercise Date: [*]	 

 

THIS COMMON STOCK PURCHASE
WARRANT (the “Warrant”) certifies that, for value received, [*] (the “Holder”) is entitled,
upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the
date hereof (the “Initial Exercise Date”) and on or prior to the close of business on the five year anniversary
of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from
GenSpera, Inc., a Delaware corporation (the “Company”), up to [*] shares (the “Warrant Shares”)
of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined
in Section 2(b).

 

Section 1.             Definitions.
Capitalized terms not otherwise defined, shall have the meanings set forth below:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act. With respect to a Holder,
any investment fund or managed account that is managed on a discretionary basis by the same investment manager as such Holder will
be deemed to be an Affiliate of such Holder.

 

“Board
of Directors” means the board of directors of the Company.

 

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“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to
close.

 

“Commission”
means the Securities and Exchange Commission.

 

“Common
Stock” means the common stock of the Company, par value $0.01 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed into.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Market
Price” means: (a) the closing bid price reported on the Company’s Trading Market on the Trading Day immediately
preceding any applicable measuring date, or (b) in all other cases, the fair market value of a share of Common Stock as determined
by the Company’s Board of Directors at their sole and absolute discretion.

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Trading
Day” means a day on which the New York Stock Exchange is open for trading.

 

“Trading
Market” means the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date
in question: the American Stock Exchange, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
the New York Stock Exchange, the Over-the-Counter Bulletin Board, or any quotation system maintained by the OTC Markets Group,
Inc.

 

“Transfer
Agent” means American Stock Transfer and Trust Company, the current transfer agent of the Company with a mailing address
of 6201 15th Avenue Brooklyn, NY 11219 and a facsimile number of 718.765.8719, and any successor transfer agent of the Company.

 

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Section 2.             Exercise.

 

a)          Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or
agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing
on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto; and, within 3 Business
Days of the date said Notice of Exercise is delivered to the Company, the Company shall have received payment of the aggregate
Exercise Price of the shares thereby purchased by wire transfer or cashier’s check drawn on a United States bank. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the
Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the
Holder shall surrender this Warrant to the Company for cancellation within 3 Business Days of the date the final Notice of Exercise
is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant
Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in
an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing
the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of
Exercise Form within 1 Business Day of receipt of such notice. In the event of any dispute or discrepancy, the records of the Company
shall be controlling and determinative in the absence of manifest error. The Holder and any assignee, by acceptance of this
Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the
Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the
amount stated on the face hereof.

 

b)          Exercise
Price. The exercise price per share of the Common Stock under this Warrant shall be $[*], subject to adjustment hereunder
(the “Exercise Price”).

 

c)          Cashless
Exercise. If at any time after the one year anniversary of the Initial Exercise Date, there is no effective registration statement
registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also
be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate
for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A)  =  the
Market Price on the Business Day immediately preceding the date of such election;

 

(B)  =  the
Exercise Price of this Warrant, as adjusted; and

 

(X)  = 
the number of Warrant Shares issuable upon exercise of this Warrant in accordance with the terms of this Warrant by means of a
cash exercise rather than a cashless exercise.

 

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d)          Exercise
Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any
portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise
as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other person
or entity acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in excess
of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares of
Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable upon
exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common
Stock which would be issuable upon (A) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the
Holder or any of its Affiliates and (B) exercise or conversion of the unexercised or nonconverted portion of any other securities
of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on conversion or exercise
analogous to the limitation contained herein beneficially owned by the Holder or any of its affiliates.  Except as set forth
in the preceding sentence, for purposes of this Section 2(d), beneficial ownership shall be calculated in accordance with Section
13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company
is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder
is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained
in this Section 2(d) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by
the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of
the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant
is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this
Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to
verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 2(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic report as filed with the Commission,
(B) a more recent public announcement by the Company or (D) any other notice by the Company or the transfer agent of the Company
setting forth the number of shares of Common Stock outstanding.  Upon the written or oral request of a Holder, the Company
shall within five Business Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. 
In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise
of securities of the Company, including this Warrant, by the Holder or its Affiliates since the date as of which such number of
outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the
number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable
upon exercise of this Warrant. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease
the Beneficial Ownership Limitation provisions of this Section 2(d), provided that the Beneficial Ownership Limitation in no event
exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares
of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(d) shall continue to apply.
Any such increase or decrease will not be effective until the 61st day after such notice is delivered to the Company.
The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms
of this Section 2(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended
Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect
to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

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e)          Mechanics
of Exercise.

 

i.            Delivery
of Certificates Upon Exercise. Certificates for shares purchased hereunder shall be transmitted by the transfer agent of the
Company to the Holder by crediting the account of the Holder’s prime broker with the Depository Trust Company through its
Deposit Withdrawal Agent Commission (“DWAC”) system if the Company is then a participant in such system and
either (A) there is an effective registration statement permitting the resale of the Warrant Shares by the Holder or (B) the shares
are eligible for resale without volume or manner-of-sale limitations pursuant to Rule 144, and otherwise by physical delivery to
the address specified by the Holder in the Notice of Exercise within 5 Business Days from the delivery to the Company of the Notice
of Exercise Form, surrender of this Warrant (if required) and payment of the aggregate Exercise Price as set forth above (the “Warrant
Share Delivery Date”). This Warrant shall be deemed to have been exercised on the date the Exercise Price is received
by the Company. The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named
therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been
exercised by payment to the Company of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to be
paid by the Holder, if any, pursuant to Section 2(e)(v) prior to the issuance of such shares, have been paid.

 

ii.           Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the certificate or certificates representing Warrant
Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by
this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

 

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iii.           Rescission
Rights. If the Company fails to cause the transfer agent of the Company to transmit to the Holder a certificate or the certificates
representing the Warrant Shares pursuant to Section 2(e)(i) by the Warrant Share Delivery Date, then, the Holder will have the
right to rescind such exercise.

 

iv.          No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company
shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied
by the Exercise Price or round up to the next whole share.

 

v.           Charges,
Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or
transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall
be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed
by the Holder; provided, however, that in the event certificates for Warrant Shares are to be issued in a name other
than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto
duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it
for any transfer tax incidental thereto.

 

vi.          Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.

 

Section 3.             Adjustments
for 

 

a)          Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
make a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the
aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

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b)          Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

c)          Notice
to Holder.

 

i.            Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall notify
the Holder of the Exercise Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.
In the event the Company makes a public disclosure with regard to the adjustment, such public disclosure shall be deemed notice
to the Holder.

 

ii.            Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, of any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last
address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or
effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend,
distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common
Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the
date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or
close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares
of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale,
transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall
not affect the validity of the corporate action required to be specified in such notice. The Holder is entitled to exercise this
Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice.

 

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Section 4.             Transfer
of Warrant.

 

a)          Transferability.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof, this Warrant and
all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender
of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant
substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any
transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall
execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant not so assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly assigned, may be exercised
by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

b)          New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the original
Issue Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c)          Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.

 

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d)          Transfer
Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer
of this Warrant, the transfer of this Warrant shall not be either (i) registered pursuant to an effective registration statement
under the Securities Act and under applicable state securities or blue sky laws or (ii) eligible for resale without volume or
manner-of-sale restrictions pursuant to Rule 144, the Company may require, as a condition of allowing such transfer, that the
Holder or transferee of this Warrant, as the case may be, an opinion of counsel with regard to such assignment or transfer.

 

Section
5.             Miscellaneous.

 

a)          No
Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a stockholder
of the Company prior to the exercise hereof as set forth in Section 2(e)(i).

 

b)          Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case
of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

c)           Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required
or granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

d)          Authorized
Shares.

 

The
Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common
Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights
under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant
Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be
necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation,
or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant
Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase
rights represented by this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes,
liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring
contemporaneously with such issue).

 

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Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation,
amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,
issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.
Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above
the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may
be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares
upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions
or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform
its obligations under this Warrant.

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or
in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be
necessary from any public regulatory body or bodies having jurisdiction thereof.

 

e)          Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of the Warrant shall be governed
by and construed and enforced in accordance with the internal laws of the State of California, without regard to the principles
of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense
of the this Warrant (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, employees
or agents) shall be commenced exclusively in the state and federal courts sitting in the City of Los Angeles. Each party hereby
irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of Los Angeles for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including
with respect to the enforcement of any of this Warrant), and hereby irrevocably waives, and agrees not to assert in any suit,
action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action
or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service
of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Warrant and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either
party shall commence an action or proceeding to enforce any provisions of this Warrant, then the prevailing party in such action
or proceeding shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses incurred
with the investigation, preparation and prosecution of such action or proceeding.

 

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f)            Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions
upon resale imposed by state and federal securities laws.

 

g)          Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding the fact that all
rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision
of this Warrant, which results in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be
sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of
appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights,
powers or remedies hereunder.

 

h)          Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered
via facsimile or electronic mail prior to 5:30 p.m. (New York City time) on a Business Day, or at such other updated addresses
as provided from time to time and if to Holder at the addresses as listed in the Company’s Warrant Registry (b) the next
Business Day after the date of transmission, if such notice or communication is delivered via facsimile or electronic mail on
a day that is not a Business Day or later than 5:30 p.m. (New York City time) on any Business Day, (c) the 2nd Business
Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt
by the party to whom such notice is required to be given. The facsimile number, emails and addresses for such notices and communications
shall be with respect to the Company, as provided by the Company from time to time or if to the Holder, as contained in the Company’s
records.

 

i)            Limitation
of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for
the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or
by creditors of the Company.

 

j)            Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

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k)          Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions
of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by
the Holder or holder of Warrant Shares.

 

l)            Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and Holders.

 

m)         Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

n)          Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

********************

 

(Signature
Pages Follow)

 

    	12

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first
above indicated.

 

	 	genspera, inc.
	 	 	 
	 	By:	 
	 	 	Name: Craig A. Dionne, Ph.D.
	 	 	Title:  President and CEO

 

    	13

    	 

    

 

NOTICE OF
EXERCISE

 

To:      genspera,
inc.

 

(1)
The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant
(only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer
taxes, if any.

 

(2)
Payment shall take the form of (check applicable box):

 

[
] in lawful money of the United States; or

 

[
] [if permitted] the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in
subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless
exercise procedure set forth in subsection 2(c).

 

(3)
Please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name
as is specified below:

 

	 	 	 

 

The Warrant
Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to:

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

(4)
Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under
the Securities Act of 1933, as amended.

 

[SIGNATURE
OF HOLDER]

 

Name of Investing
Entity: ________________________________________________________________________

Signature of
Authorized Signatory of Investing Entity: _________________________________________________

Name of Authorized
Signatory: ___________________________________________________________________

Title of Authorized
Signatory: ____________________________________________________________________

Date: ________________________________________________________________________________________

 

    	 

    	 

    

 

ASSIGNMENT
FORM

 

(To assign the
foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

FOR
VALUE RECEIVED, [____] all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned
to

 

_______________________________________________
whose address is

 

_______________________________________________________________.

  

_______________________________________________________________

 

Dated:
______________, _______

 

	 	Holder’s Signature:	 	 
	 	 	 	 
	 	Holder’s Address:	 	 
	 	 	 	 
	 	 	 	 

 

Signature Guaranteed:
___________________________________________

 

NOTE: The signature
to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement
or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary
or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.Ex. 10.1 - 6.30.14

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of the 11th day of July, 2014 (“Agreement Date”), by and between Kevin S. Kim, an individual residing in La Canada, California (the “Executive”), on the one hand, and BBCN Bancorp, Inc., a Delaware corporation (“Parent”) and BBCN Bank, a California state chartered bank (the “Bank”) (with the Parent and Bank being collectively referred to herein as the “Company”), on the other hand.
WHEREAS, the Executive has been serving as the Chief Executive Officer and President of the Parent pursuant to that certain CEO Employment Agreement dated May 31, 2013 (“Original Employment Agreement”); 
WHEREAS, the Bank wishes to employ the Executive as its Chief Executive Officer and President, under the terms and conditions set forth in this Agreement, and the Parent wishes to continue the employment of the Executive as its Chief Executive Officer and President, under the terms and conditions set forth in this Agreement;
WHEREAS, the Executive desires to accept employment as the Chief Executive Officer and President of the Bank, and continue his employment as the Chief Executive Officer and President of the Parent, under the terms and conditions set forth in this Agreement;
WHEREAS, this Agreement is intended to amend, restate and replace in its entirety the Original Employment Agreement;
NOW, THEREFORE, in consideration of such employment and the mutual covenants and promises herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive agree to amend, restate and replace the Original Agreement in its entirety as follows:
Section 1.Employment.  The Parent and the Bank each hereby employ the Executive, and the Executive hereby accepts such employment, under the terms and conditions set forth herein.  
Section 2.    Titles, Positions, Duties and Responsibilities.  The Executive shall be employed as the Chief Executive Officer and President of the Parent, and as the Chief Executive Officer and President of the Bank, and his powers and duties shall be consistent with such offices and positions.  As Chief Executive Officer of the Company, the Executive shall supervise, control and be responsible for all aspects of the business and affairs of each of the Parent and the Bank, together with their respective additional subsidiaries.  
Section 3.    Reporting Responsibilities.  The Executive shall report to the Board of Directors of the Parent (“Parent Board”) with respect to his duties and responsibilities as Chief Executive Officer and President of the Parent and shall report to the Board of Directors of the Bank (“Bank Board”) with respect to his duties and responsibilities as Chief Executive Officer and President of the Bank.
Section 4.    Time Devoted.  The Executive shall devote substantially all of his productive time, ability and attention to, and shall diligently and conscientiously use his best efforts to further, the Company’s business, and shall not perform such services, for any person other than the Company. Allocation of the Executive’s time among his duties to and office with the Parent and the Bank, respectively, will be within Executive’s sole discretion, except as otherwise specifically directed by the Parent Board from time to time. Notwithstanding the foregoing provisions of this Section 4, the Executive may devote reasonable time to activities other than those required under this Agreement, including the supervision of his personal investments, and activities involving professional, charitable, educational, religious and similar types of organizations, speaking engagements, membership on the boards of directors of other organizations, and similar activities, to the extent that such other activities do not inhibit or prohibit the performance of the Executive’s duties under this Agreement, or conflict in any material way with the business or interests of the Company; provided, however, that the Executive shall not serve on the board of directors of any business, or hold any other position with any other for profit business, without the prior written consent of the Parent Board.
Section 5.    Place of Service.  Subject to the need for business travel from time to time, the Executive will be based at the principal executive offices of the Parent located in the greater Los Angeles metropolitan area.
Section 6.    Board Service.  The Executive is currently serving as a member of the Parent Board and the Bank Board.  The Company will use all reasonable efforts to cause Executive to be nominated for re-election each time the Executive’s term as a director expires to the Parent Board, while the Executive is employed by the Parent, and to the Bank Board, while the Executive is employed by the Bank.  The Executive agrees to serve as a member of the Parent Board and the Bank Board, as well as a member of any committee(s) of the Parent Board and Bank Board to which Executive may be elected or appointed, without additional compensation or directors’ fees.  No modification of this Agreement, including its termination, will adversely impact the term of Executive’s seats on the Boards.
Section 7.    Term; At-Will Employment.  
Section 7.01.    Term.  Subject to the provisions for termination set forth in this Agreement, and notwithstanding the Agreement Date, the initial term of employment under this Agreement shall begin effective as of and on April 11, 2014 (“Commencement Date”) and, unless sooner terminated pursuant to this Agreement, shall end on April 10, 2019 (the “Initial Term”).  Unless a Non-Renewal Notice (as defined below) is given prior to the end of the Initial Term, as herein provided, or the Executive’s employment is earlier terminated in accordance with the terms hereof, at the end of the Initial Term and each anniversary thereof, the period of the Executive’s employment under this Agreement shall be automatically extended for an additional twelve (12)-month period (each a “Renewal Term”).  The Company or the Executive may elect to terminate the automatic extension of the Initial Term or the automatic extension of a Renewal Term by giving written notice of such election not less than sixty (60) days prior to the end of the Initial Term or the then current Renewal Term, as applicable (a “Non-Renewal Notice”).  The date on which the term of the Executive’s employment under this Agreement expires or is terminated pursuant to the provisions of this Agreement (whether by Non-Renewal or otherwise) shall be referred to herein as the “Termination Date.”  The capitalized word “Term” as used herein shall mean the period beginning on the Commencement Date and ending on the Termination Date.
Section 7.02.    At Will Employment  Notwithstanding anything to the contrary which may be contained in this Agreement, the Executive’s employment hereunder is at will only which means that (a) the Company has the right to terminate Executive’s employment hereunder at any time, with or without cause or reason, or for no reason at all, pursuant to Section 12.04 of this Agreement, and (b) the Company acknowledges that the Executive has the right to terminate Executive’s employment hereunder at any time, with or without cause or reason, or for no reason at all, effective upon at least ninety (90) days prior written notice to the Company, pursuant to Section 12.06 of this Agreement.
Section 8.    Cash Compensation.
Section 8.01.    Annual Base Salary.  In consideration of the services rendered by the Executive under this Agreement, the Company shall pay the Executive an aggregate annual base salary (the “Annual Base Salary”) at the initial rate of $650,000 per calendar year, beginning as of the Commencement Date.  The Annual Base Salary shall be paid in such installments and at such times as the Company pays its regularly salaried executives.  The Parent Board will review at least annually the Annual Base Salary payable to the Executive and may, in its sole discretion, adjust the Executive’s rate of compensation.  Any such adjustment in Annual Base Salary shall be and become the “Annual Base Salary” for purposes of this Agreement from and after the effective date of such adjustment.
Section 8.02.    Annual Bonus.  
(a)    For each calendar year during the Term, the Executive shall be eligible to receive a discretionary annual cash bonus, subject to achievement of specified goals and objectives (collectively, the “Performance Criteria”).  The Performance Criteria shall be reasonably determined by the Parent Board and the Bank Board, as applicable, or a committee thereof, pursuant to the Company’s CEO Evaluation Policy and Procedures dated November 2013 (a copy of which is attached hereto), as amended from time to time in the discretion of the Company (as amended, the CEO Policy”),  after consultation with the Executive, within ninety (90) days after the end of each calendar year (not contract year) arising during the Term; provided, however, that the Performance Criteria for each such year shall include a requirement that Executive receive at least an “Acceptable” overall rating in his Chief Executive Officer evaluation conducted pursuant to the CEO Policy. The Performance Criteria for 2014 are set forth on Exhibit D annexed to this Agreement.  
(b)    The “Minimum Bonus Amount” shall be an amount equal to fifty percent (50%) of Executive’s Annual Base Salary, the “Target Bonus Amount” shall be an amount equal to seventy-five percent (75%) of Executive’s Annual Base Salary, and the “Maximum Bonus Amount” shall be an amount equal to one hundred and twenty-five percent (125%) of Executive’s Annual Base Salary.  If at least eighty percent (80%) but less than one hundred percent (100%) of the Performance Criteria has been achieved (and the Executive has received at least an “Acceptable” overall rating in his Chief Executive Officer evaluation conducted pursuant to the CEO Policy), the amount of the bonus shall be at least the Minimum Bonus Amount but shall be less than the Target Bonus Amount.  If one hundred percent (100%) of the Performance Criteria has been achieved or the Performance Criteria has been exceeded in less than a meaningful manner (and the Executive has received at least an “Acceptable” overall rating in his Chief Executive Officer evaluation conducted pursuant to the CEO Policy), the amount of the bonus shall be the Target Bonus Amount.  If the Performance Criteria has been exceeded in a meaningful manner but less than one hundred and twenty-five percent (125%) (and the Executive has received at least an “Acceptable” overall rating in his Chief Executive Officer evaluation conducted pursuant to the CEO Policy), the amount of the bonus shall be at least seventy-six percent of Executive’s Annual Base Salary but shall be less than the Maximum Bonus Amount.  If one hundred and twenty-five percent (125%) of the Performance Criteria has been achieved or exceeded (and the Executive has received at least an “Acceptable” overall rating in his Chief Executive Officer evaluation conducted pursuant to the CEO Policy), the amount of the bonus shall be the Maximum Bonus Amount.  The determination of what percentage of the Performance Criteria has been achieved, whether the Performance Criteria has been exceeded in less than a meaningful manner or in a meaningful manner, and by how much the Performance Criteria has been exceeded, as well as the determination of the amount of the annual bonus within the ranges specified above, shall be made in good faith by the Parent Board and the Bank Board, as applicable, or a committee thereof, and such determinations shall be conclusive and binding on the Executive.    
(c)    The annual discretionary cash bonus actually awarded to the Executive from time to time during the Term shall be referred to in this Agreement as the “Annual Bonus.”
(d)    Each Annual Bonus shall be paid in the year (not later than March 15th) of the year following the calendar year for which the bonus is being paid.
Section 8.03.    Payment.  All cash compensation (including, without limitation, Annual Base Salary and Annual Bonuses) payable to the Executive under this Agreement shall be paid in accordance with all relevant Company policies and directives, rules and regulations, and accounting policies then in effect from time to time and shall be subject to all applicable employment and withholding taxes.  The Executive shall be responsible for any taxes resulting from a determination that any portion of any benefits supplied to him under this Agreement may be reimbursing personal, as well as business expenses.
Section 9.    Equity Incentive Awards.  Unless otherwise defined, all capitalized terms used in this Section 9 shall have the meanings ascribed to them in the Amended and Restated BBCN Bancorp, Inc. 2007 Equity Incentive Plan, as amended (the “Equity Incentive Plan”).
Section 9.01.    New Restricted Stock Award.  As soon as practical after the Agreement Date, the Executive shall receive from the Parent a grant of 30,000 Shares of Restricted Stock of the Parent (the “New Restricted Shares”).  The New Restricted Shares will be granted pursuant to Section 7 of the Equity Incentive Plan and shall be evidenced by and be subject to the execution by the Executive of an Award Agreement.  The New Restricted Shares will vest in five equal installments on the 1st, 2nd, 3rd, 4th, and 5th anniversaries of the Commencement Date, provided, with respect to each such anniversary date, that the Executive remains a full time employee under this Agreement in order to vest the applicable 20% of the Shares, and shall otherwise be subject to the terms and conditions set forth in the Equity Incentive Plan and such Award Agreement.  No pro rata portions of such award may be earned.  The parties acknowledge that the vesting anniversaries are to be measured from the Commencement Date.   
Section 9.02.    Stock Option Award.  As soon as practical after the Agreement Date, the Executive shall receive from the Parent a grant of Nonqualified Stock Options to purchase 200,000 Shares of the Parent (the “Stock Options”).  The Stock Options will be granted pursuant to Section 5 of the Equity Incentive Plan and shall be evidenced by and be subject to the execution by the Executive of an Award Agreement.  The Stock Options will vest in five equal installments on the 1st, 2nd, 3rd, 4th, and 5th anniversaries of the Commencement Date, provided, with respect to each such anniversary date, that the Executive remains a full time employee under this Agreement in order to vest the applicable 20% of the Stock Options, and shall otherwise be subject to the terms and conditions set forth in the Equity Incentive Plan and such Award Agreement.  No pro rata portions of such award may be earned.  The parties acknowledge that the vesting anniversaries are to be measured from the Commencement Date. 
Section 9.03.    Existing Performance Units.  It is hereby confirmed that, on March 6, 2013, the Parent granted to Executive 20,000 Performance Units (“Existing Performance Units”).   One-third of the Existing Performance Units vested on March 6, 2014 and the remaining Existing Performance Units will vest in two equal installments on the 2nd and 3rd anniversaries of the Grant Date, if the Executive remains a full time employee on each such anniversary and has received at least an “Acceptable” overall rating in his then most recent Chief Executive Officer evaluation conducted pursuant to the CEO Policy.  The Existing Performance Units were granted pursuant to Section 8 of the Equity Incentive Plan.  No pro rata portions of such award may be earned.  
Section 10.    Long-Term Incentive Plan.  As soon as practical after the Agreement Date, but not later than thirty (30) days thereafter, the Company will adopt and implement the 2008 Long-Term Incentive Plan (“LTIP”) for the Executive.  The material terms and conditions of the 2008 LTIP are set forth on Exhibit A annexed to this Agreement.  Should the Company adopt and implement a supplemental executive retirement plan (“SERP”) during the Term, the Company, at its discretion, may adopt and implement a SERP for the Executive.
Section 11.    Benefits.  Except as otherwise provided in this Agreement, in addition to the compensation, equity incentive awards and SERP described in Sections 8, 9 and 10 of this Agreement, during the Term the Executive shall be entitled to the following additional benefits:
Section 11.01.    Paid Vacation.  The Executive shall be entitled to four (4) weeks paid vacation per calendar year, such vacation to extend for such periods and shall be taken at such intervals as shall be appropriate and consistent with the proper performance of the Executive’s duties hereunder, as determined within the Executive’s discretion.  All unused vacation at the end of each calendar year shall accrue; provided, however, that the maximum amount of unused vacation that can be accrued shall be six (6) weeks.
Section 11.02.    Welfare Benefit Plans.  During the Term, the Executive and the Executive’s family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company to similarly-situated executives of the Company (including, without limitation, medical, prescription, dental, disability, salary continuance, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other executives of the Company, as long as they are kept in force by the Company and provided that the Executive meets the eligibility requirements of the respective welfare benefit plans.  Nothing contained herein shall limit the right of the Company, in its sole and absolute discretion, to modify, amend or discontinue any of the welfare benefit plans. 
Section 11.03.    Automobile Benefit.  During the Term the Company will provide an automobile allowance to the Executive in the amount of $1,450 per month.
Section 11.04.    Reimbursement of Expenses.  During the Term, the Company shall reimburse the Executive for all reasonable and necessary expenses actually incurred by the Executive in connection with the business affairs of the Company and the performance of Executive’s duties hereunder, upon presentation of proper receipts or other proof of expenditure and subject to compliance with such limitations and reporting requirements with respect to such expenses as the Company may establish from time to time.  All reimbursements shall be made by the Company in the ordinary course of business after the Executive presents the proper receipts and other proof of expenditure to the Company; provided that, in any event, all reimbursements shall be made by the Company not later than fifteen (15) days after the submission of all required documentation to the Company.  
Section 11.05.    Club Memberships.  
(a)    The Executive is a member of the California Club (the “Social Club”) and a member of the Wilshire Country Club (the “Country Club”).  The Social Club membership and the Country Club membership are in the name of the Executive.    
(b)    During the Term, the Company shall reimburse Executive for the monthly membership fees and monthly dues for the Social Club and the Country Club.  In addition, during the Term the Company shall reimburse the Executive for all reasonable Company business related expenses incurred at the Social Club and the Country Club, under the provisions of Section 11.04 of this Agreement. 
  
Section 11.06.    Other Benefit Plans.  During the Term, the Executive shall be entitled to participate in all incentive, savings, retirement and pension plans, practices, policies and programs applicable generally to other executives of the Company as determined by the Parent Board and the Bank Board, from time to time, as long as they are kept in force by the Company and provided that the Executive meets the eligibility requirements of the respective benefit plans.  Nothing contained herein shall limit the right of the Company, in its sole and absolute discretion, to modify, amend or discontinue any of the benefit plans.
Section 12.    Termination.  The Executive’s employment shall terminate at the end of the Term or earlier as follows:
Section 12.01.    Death.  The Executive’s employment shall automatically terminate upon the death of the Executive and all rights of the Executive and Executive’s heirs, executors and administrators to compensation and other benefits shall cease, except (i) to the extent that any dependents are enrolled in benefit plans that have continuing application or renewability, and (ii) with respect to “Accrued Benefits” (as this term is defined in Section 13.01(b)).  
Section 12.02.    Permanent Disability.  In the event the Executive is determined to be “Disabled,” the Company shall have the right, to the extent permitted by applicable law, to terminate the Executive’s employment by giving the Executive thirty (30) days advance written notice.  For purposes of this Agreement, “Disabled” or “Disability” shall mean the absence of the Executive from the Executive’s duties and responsibilities with the Company, or the failure of the Executive to perform a material portion of Executive’s duties and responsibilities hereunder, on a full-time basis for more than sixty (60) consecutive days or more than one hundred and twenty (120) days in any given 365-day period, as a result of incapacity due to mental or physical illness (from any cause whatsoever) which, in the written opinion of a physician selected by the Company or its insurers, renders the Executive unable to perform or incapable of performing a material portion of the Executive’s duties and responsibilities hereunder, after giving effect to the Company providing the Executive with reasonable accommodations for such “Disability”.  If, however, the Executive or the Executive’s legal representative disputes the written opinion of such physician, then the Executive shall be entitled to obtain a second opinion from a physician of the Executive’s choice.  Should the two physicians disagree, the matter will be submitted to a third physician, mutually chosen by the parties or, if they cannot agree, by the first and second physician, whose opinion shall control and constitute the determination of “Disability”.  No termination shall occur until there is a final unobjected determination of Disability. 
Section 12.03.    By the Company For Cause.  The employment of the Executive may be terminated by the Company for Cause (as defined below) at any time by giving written notice to the Executive, which written notice shall specify in reasonable detail the nature of the facts and circumstances that the Company believes gives rise to the basis for the “Cause” termination.  For purposes hereof, the term “Cause” shall mean the occurrence of any one or more of the following:
(a)    The Executive shall have been indicted for, or convicted of, or shall have pleaded guilty or nolo contendere to, any felony, or any crime (other than a felony) that involves fraud or other moral turpitude; 
(b)    The Executive shall have failed, neglected or refused, either due to willful action or inaction or as a result of gross neglect, to substantially, materially and properly perform Executive’s duties and responsibilities to the Company under this Agreement (other than as a result of Disability) that, if capable of being cured, has not been cured within thirty (30) days after written notice is delivered to the Executive by the Parent Board or Bank Board, or a representative thereof, as applicable, which notice specifies in reasonable detail the manner in which the Company believes the Executive has not substantially performed his duties and responsibilities and the manner in which a cure may be effected.  If in the good faith determination of the applicable Board, such failure, neglect or refusal is not capable of being cured, then no such 30-day notice is required to be given;
(c)    The Executive shall have failed, neglected or refused, either due to willful action or inaction or as a result of gross neglect, to carry out, to the extent of his reasonable control, the reasonable and lawful instructions of the Parent Board or the Bank Board (other than as a result of Disability), which instructions are consistent with the Executive's position as Chief Executive Officer and President and Executive’s duties and responsibilities under this Agreement, which failure, neglect or refusal shall not have been corrected or suitably supported by the Executive within thirty (30) business days following written notice from the Parent Board or Bank Board, or a representative thereof, as applicable, of such failure, neglect or refusal;
(d)    The Executive shall have materially breached any provision of Section 14 or Section 15 of this Agreement;
(e)    The Executive shall have committed, or participated in or authorized, any fraud, embezzlement, misappropriation of funds or other assets, material misrepresentation (including, without limitation, any material representation of the information contained in the Executive’s resume or application for employment), breach of fiduciary duty or other act of dishonesty, in either case against or otherwise involving the Company or its businesses and assets;
(f)    The Executive shall have engaged in any conduct resulting in a substantial loss or harm to the Company or substantial damage or harm to the reputation of the Company, unless the conduct in question was undertaken in good faith on an informed basis, with due care and with a rational business purpose, and based upon the honest belief that such conduct was in the best interest of the Company;
(g)    Provided that counsel to the Company or any lawfully convened Board did not advise or instruct the Executive that it was lawful to agree to or participate in the conduct that is the subject of any such action, the Executive shall have been found liable in any SEC or other civil or criminal securities law action or received or entered into any cease and desist order with respect to such action (regardless of whether or not the Executive admits or denies liability);
(h)    The Executive (i) obstructs or impedes, (ii) endeavors to influence, obstruct or impede, or (iii) fails to materially cooperate with, any investigation authorized by the Parent Board or the Bank Board, or (unless the Parent Board otherwise directs) any governmental or self-regulatory entity (an “Investigation”); provided, however, that Executive’s failure to waive the attorney-client privilege relating to communications with Executive’s own attorney or with Company counsel in connection with an Investigation shall not constitute “Cause” hereunder;
(i)    The Executive removes, conceals, destroys, purposely withholds, alters or by any other means falsifies any material that is requested in connection with an Investigation;
(j)    The Executive is disqualified, barred, ordered or otherwise required by any governmental or self-regulatory authority from serving as an officer or director of the Company or Executive loses any governmental or self-regulatory license that is reasonably necessary for the Executive to perform Executive’s duties and responsibilities to the Company under this Agreement, if the disqualification, bar or loss continues for more than thirty (30) days.  While any disqualification, bar or loss continues during the Executive’s employment, the Executive will serve in the capacity contemplated by this Agreement to whatever extent legally permissible and, if such employment is not permissible, the Executive will be placed on leave (which will be paid to the extent legally permissible); or
(k)    The Executive violates the Company’s (i) workplace violence policy or (ii) policies on discrimination, unlawful harassment or substance abuse, provided that such violation is determined by a competent and thorough internal investigation of the Company, the written findings of which are presented to the Executive or, upon the disagreement by Executive with the results of the determination arising from such investigation, the final and non-appealable order of a court of competent jurisdiction that rules on the alleged violation.
For purposes of this definition of “Cause”, no act or omission by the Executive will be “willful” unless it is made by the Executive in bad faith or without a reasonable belief that the Executive’s act or omission was in the best interests of the Company.
Section 12.04.    By the Company without Cause.  The Company may terminate the Executive’s employment at any time without Cause, or without any other cause or reason, or for no reason at all, effective thirty (30) days following the receipt by the Executive of written notice of such termination from the Company. 

Section 12.05.    By the Executive for Good Reason.  
(a)    The Executive may terminate Executive’s employment for Good Reason as set forth in this Section 12.05(c) following the occurrence of a Good Reason event.  Such notice must provide a reasonably detailed explanation of the Good Reason.  For this purpose, the term “Good Reason” shall mean: (i) any reduction in Annual Base Salary (ii) any material reduction or lessening in scope of Executive’s authority, duties or responsibilities as initially or customarily afforded to the positions held by the Executive, orally, in writing or by custom and practice; (iii) the relocation by the Company of the Executive's primary place of employment with the Company to a location outside of the Los Angeles metropolitan area; (iv) any requirement that Executive report to another officer or employee instead of reporting directly to the Parent Board and the Bank Board; or (v) any other action or inaction that constitutes a material breach or material abuse of discretion by the Company of its duties and obligations under this Agreement.  
(b)    The events described in Section 12.05(a)(i) through (v) above shall constitute Good Reason only if: (i) Executive gives the Company written notice of Executive’s intention to terminate for Good Reason, which written notice shall specify in reasonable detail the nature of the events, facts and circumstances giving rise to such Good Reason, within thirty (30) days following the later of the occurrence of such events, facts or circumstances or the Executive’s first awareness of such events, facts or circumstances; and (ii) the Company fails to cure such events, facts or circumstances so as to remove such Good Reason within thirty (30) days after receipt of such written notice from the Executive.
(c)    The Executive may terminate Executive’s employment for the Good Reason specified in the written notice referred to in Section 12.05(b)(i) above, if (i) the Company has failed to cure such events, facts or circumstances so as to remove such Good Reason within the 30-day cure period referred to in Section 12.05(b)(ii) above and (ii) the Executive gives the Company written notice of such termination (and terminates employment) within thirty (30) days after the expiration of the 30-day cure period referred to in Section 12.05(b)(ii) above.
Section 12.06.    By the Executive Voluntarily.  The Executive may terminate Executive’s employment at any time without Good Reason or without any other cause or reason, or for no reason at all, effective upon at least ninety (90) days prior written notice to the Company.
Section 13.    Termination Payments and Benefits.
Section 13.01.    Voluntary Termination by Executive without Good Reason (other than by Non-Renewal), Termination By Company For Cause, Termination Upon Disability or Death.
(a)    Upon any termination of the Executive’s employment either (i) voluntarily by the Executive without Good Reason as provided in Section 12.06 or otherwise (other than pursuant to a Non-Renewal Notice given by the Executive), (ii) by the Company for Cause as provided in Section 12.03, (iii) due to the Disability of the Executive as provided in Section 12.02, or (iv) as a result of the Executive’s death pursuant to Section 12.01, all payments, salary and other benefits hereunder shall cease at the effective date of such termination.  
(b)    Notwithstanding the foregoing, the Executive shall be entitled to receive from the Company (i) all salary earned or accrued and unpaid through the date the Executive’s employment is terminated, (ii) all Annual Bonuses earned for calendar years completed prior to the effective date of Executive’s termination to the extent unpaid, (iii) so long as Executive’s employment hereunder has not been terminated by the Company for Cause and has not been terminated by the Executive without Good Reason, at the Board’s full discretion, a pro-rata portion of the Annual Bonus for the portion of the year completed up to the effective date of termination, which prorated portion will be based on the amount of the Annual Bonus paid or payable for the previous completed calendar year, (iv) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive through the date the Executive’s employment is terminated, and (v) all other payments and benefits to which the Executive may be entitled under the terms of any applicable compensation arrangement or benefit plan or program of the Company, including, but not limited to, any earned and accrued, but unused vacation pay (the foregoing subsections (i)-(v) collectively, “Accrued Benefits”), except that Accrued Benefits shall not include any entitlement to severance under any Company severance policy generally applicable to the Company’s salaried employees.
Section 13.02.    Termination by the Company without Cause or by the Executive with Good Reason Before a Change in Control.  If Executive’s employment is terminated by the Company without Cause, or by the Executive with Good Reason, and such termination is not covered by Section 13.03 below, then the Executive shall be entitled to receive the following amounts and benefits, as Executive’s exclusive right and remedy in respect of such termination:
(l)    Executive’s Accrued Benefits;
(m)    Severance pay (referred to herein as “Severance”) equal to one and one-half (11⁄2) times the Executive’s then current Annual Base Salary, payable in a lump-sum within thirty (30) days after the Termination Date;
(n)    All Awards granted or issued to the Executive pursuant to the Equity Incentive Plan pursuant to this Agreement or otherwise that are unvested as of the day immediately preceding the effective date of such termination of employment referred to in this Section 13.02, shall automatically become fully vested as of the date of such termination of employment; provided, however, that, to the extent an Award, not including stock options or stock appreciation rights, is intended to qualify as performance-based compensation for purposes of Internal Revenue Code Section 162(m), such award will vest as of such termination of the Executive’s employment to the extent and in proportion to the performance conditions of the Award or portions thereof that are satisfied as of such termination of employment; and  
(o)    All amounts and other benefits to be provided to the Executive under the SERP that (i) have been accrued as of the date immediately preceding the effective date of such termination of employment, (ii) are subject only to time-based vesting requirements as of the day immediately preceding the effective date of such termination of employment, and (iii) are unvested as of the day immediately preceding the effective date of such termination of employment referred to in this Section 13.02, shall automatically become fully vested as of the date of such termination of employment.
Section 13.03.    Termination by the Company without Cause or by the Executive with Good Reason After a Change in Control.  If Executive’s employment is terminated by the Company without Cause, or by the Executive with Good Reason, after a “Change in Control” (as defined in Exhibit C annexed to this Agreement) and prior to the first anniversary of such Change in Control, then the Executive shall be entitled to receive the following amounts and benefits, as Executive’s exclusive right and remedy in respect of such termination, all of the following:
(c)    Executive’s Accrued Benefits;  
(d)    Severance equal to two and one-half (21⁄2) times the Executive’s then current Annual Base Salary, payable in a lump-sum within thirty (30) days after the Termination Date;
(e)    All Awards granted or issued to the Executive pursuant to the Equity Incentive Plan pursuant to this Agreement or otherwise that are unvested as of the day immediately preceding the effective date of such termination of employment referred to in this Section 13.03, shall automatically become fully vested as of the effective date of such termination of employment; and
(f)    All amounts and other benefits to be provided to the Executive under the SERP which (i) have been accrued as of the date immediately preceding the effective date of such termination of employment, (ii) are subject only to time-based vesting requirements as of the day immediately preceding the effective date of such termination of employment, and (iii) are unvested as of the day immediately preceding the effective date of such termination of employment referred to in this Section 13.03, shall automatically become fully vested as of the effective date of such termination of employment.
Section 13.04.    Termination by Non-Renewal Notice.  If Executive’s employment is terminated by the Company or by Executive pursuant to a Non-Renewal Notice, then the Executive shall be entitled to receive the Accrued Benefits, as Executive’s exclusive right and remedy in respect of such termination.
Section 13.05.    Release Agreement.  All payments under this Section 13 (other than Accrued Benefits) are conditioned on the Executive executing and not revoking a release agreement in the form attached hereto as Exhibit B (the “Release Agreement”) (which Release Agreement may be updated by the Company from time to time but only to reflect changes in applicable law from and after the date of this Agreement) within thirty (30) days or, in the event that Executive’s termination of employment qualifies for Severance and is “in connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination in Employment Act of 1967), the date that is fifty-two (52) days, following receipt by Executive of such Release Agreement executed by the Company (the “Release Expiration Date”).  For the avoidance of doubt, and notwithstanding anything to the contrary contained herein, in the event the Release Agreement shall not be executed and become irrevocable by the Release Expiration Date, the Executive shall forfeit the right to any payments and benefits under this Section 13 (other than Accrued Benefits and benefits already vested as of the effective date of termination), including, without limitation, Severance.  In any case where the Termination Date and the Release Expiration Date fall in two separate taxable years, any payments required to be made to the Executive that are conditioned on the Release Agreement and are treated as “nonqualified deferred compensation” within the meaning of Section 409A (as defined in Section 19.03) shall be made in the later taxable year.
Section 13.06.    Offset.  The Company shall be entitled to set off against the Severance payable to the Executive under this Section 13 of this Agreement any undisputed amounts owed to the Company by the Executive; provided, however, that in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” within the meaning of Section 409A (as defined in Section 19.03) be subject to offset by any other amount unless otherwise permitted by Section 409A.  Any of the disputed amounts must be pursued under the provisions of Section 19.10 herein and may not be unilaterally charged by the Company against any Severance otherwise due.
Section 13.07.    Accrued Benefits.  Notwithstanding anything else herein to the contrary, all Accrued Benefits to which the Executive (or Executive’s estate or beneficiary) is entitled shall be payable in cash or requested wire transfer on the earlier of the date required for such payment under applicable law or within thirty (30) days following termination of the Executive’s employment, except as otherwise specifically provided herein, or under the terms of any applicable policy, plan or program.
Section 13.08.    No Other Benefits.  Except as specifically provided in this Section 13, the Executive shall not be entitled to any other compensation, severance or other employment benefits from the Company or any of its subsidiaries or affiliates upon the termination of Executive’s employment.  
Section 13.09.    Survival of Certain Provisions.  Provisions of this Agreement shall survive any termination of employment if so provided herein or if necessary or desirable to fully accomplish the purposes of such provision, including, without limitation, the obligations of the Executive under Sections 14 and 15 hereof and the obligations of the Company under Section 13 hereof.  The obligation of the Company to make payments to or on behalf of the Executive under Section 13 hereof is expressly conditioned upon the Executive’s continued full performance of his obligations under Sections 14 and 15 hereof.
Section 13.10.    Public Statement of Termination.  In the event the Executive’s employment terminates for any reason, the Company and the Executive, or their respective representatives, shall negotiate in good faith in an effort to mutually agree upon a public statement pertaining to the Executive’s termination of employment, and the terms of said statement shall not be subject to subsequent modification by either party unless required by law; provided, however, that in the event the Company and the Executive are unable in good faith to agree on such a statement, the Company may make public statements as are necessary to comply with applicable law.
Section 13.11.    Golden Parachute Limitation.  Any compensation and benefits payable or provided (or to be paid or provided) to the Executive under this Agreement or any other agreement, plan or arrangement, including, without limitation, the compensation and benefits set forth in Section 13 of this Agreement will be reduced as provided below to avoid the penalties imposed on “Parachute Payments” (as defined in Section 13.11(a) below) under the Internal Revenue Code of 1986, as amended.
(a)    If the present value of all the Executive’s Severance and other payments and benefits provided by the Company under this Agreement is high enough to cause any such payment or benefit to be a “golden parachute payment” (as defined in Section 359.1(f) of the Federal Deposit Insurance Corporation Rules and Regulations) (a “Parachute Payment”), then one or more of such payments and benefits will be reduced by the minimum amount required to prevent the Severance and other payments and benefits from being a Parachute Payment.
(b)    If a reduction in the payments or benefits is necessary and none of the payments or benefits constitute “nonqualified deferred compensation” within the meaning of Section 409A (as defined in Section 19.03), then the reduction shall occur in the manner the Executive elects in writing.  If any such payments or benefits constitute “nonqualified deferred compensation” within the meaning of Section 409A (as defined in Section 19.03) or if the Executive fails to elect an order, then the payments and/or benefits to be reduced will be determined in a manner which has the least economic cost to the Executive and, to the extent the economic cost is equivalent, will be reduced in the inverse order of when payment would have been made to the Executive, until the reduction is achieved.
(c)    The determination of whether the present value of all of the Executive’s Severance and other payments and benefits provided by the Company under this Agreement is high enough to cause any such payment to be a Parachute Payment, and the amount of the reduction (and, if applicable, the ordering of such reduction pursuant to the second sentence of Section 13.10(b)) necessary to prevent the Severance and other payments and benefits under this Agreement from being such a Parachute Payment, shall be made by an accounting firm selected by the Parent Board prior to the applicable Change in Control and shall be binding and conclusive on the Executive.
Section 14.    Confidential and Proprietary Information; Non-Disclosure of Third Party Information.
(p)    As a condition of the Executive’s employment, the Executive will hold all the Company’s confidential and proprietary information in confidence and will not disclose, use, copy, publish, summarize, or remove from the premises of the Company any proprietary or confidential information, except as is necessary to carry out his assigned responsibilities as a Company employee.  “Confidential” and “Proprietary” Information shall have the meaning described in the Company’s Code of Ethics and Business Conduct, and shall include, but is not limited to, all information related to any aspect of the business of the Company that is either information not known by actual or potential competitors of the Company or is proprietary information of the Company, whether of a technical nature or otherwise.  Such information includes promotional methods, marketing plans, and trade secrets, lists of customer names and information or personnel lists of suppliers, business plans, business opportunities, or financial statements to the extent not publicly available.
(q)    The Executive represents, warrants and covenants that Executive shall not disclose to the Company, or use, or induce the Company to use, any proprietary information or trade secrets of others at any time, including, but not limited, to any proprietary information or trade secrets of any former employer, if any.  Executive acknowledges and agrees that any violation of this provision shall be grounds for Executive’s immediate termination and could subject Executive to substantial civil liabilities and criminal penalties.  The Executive further specifically and expressly acknowledges that no officer or other employee or representative of the Company has requested or instructed the Executive to disclose or use any such third party proprietary information or trade secrets. 
Section 15.    Non-Solicitation of Employees.  During the period commencing on the Agreement Date and ending on the first (1st) anniversary of the Termination Date, the Executive shall not, except on behalf of the Company, directly or indirectly, either alone or with others, solicit or encourage others to solicit any (i) current employee of the Company or (ii) employee of the Company whose employment with the Company or its affiliates was or is terminated coincident with, or within six (6) months prior to or after, the Termination Date, in each case for the purpose of being employed by, or otherwise provide services to, the Executive or any business, individual, partnership, firm, corporation or other entity on whose behalf the Executive is acting as an agent, representative, employee or otherwise, or for the purpose of inducing such employee to leave the employ of the Company.
Section 16.    Remedies.  It is specifically understood and agreed that any breach of the provisions of Sections 14 or 15 of this Agreement is likely to result in irreparable injury to the Company and that the remedy at law alone will be an inadequate remedy for such breach, and that in addition to any other remedy it may have, the Company shall be entitled to enforce the specific performance of this Agreement by the Executive and to seek both temporary and permanent injunctive relief (to the extent permitted by law) without bond and, except for the rights under Section 19.10(c) herein, without liability should such relief be denied, modified or violated.  Neither the right to obtain such relief nor the obtaining of such relief shall be exclusive or preclude the Company from any other remedy.
Section 17.    Severable Provisions.  The provisions of this Agreement are severable and the invalidity of any one or more provisions shall not affect the validity of any other provision.  In the event that a court of competent jurisdiction shall determine that any provision of this Agreement or the application thereof is unenforceable in whole or in part because of the duration or scope thereof, the parties hereto agree that said court in making such determination shall have the power to reduce the duration and scope of such provision to the extent necessary to make it enforceable, and that the Agreement in its reduced form shall be valid and enforceable to the fullest extent permitted by law.  The parties further agree that, if the court is unwilling to reduce the duration or edit the scope of such provision, and elects to simply negate or excise it, the Agreement in its modified state shall continue to be valid and enforceable as between the parties so long as the negated or excised portion is not a material part or a material provision of this Agreement.  
Section 18.    Notices.  All notices required or permitted to be given under this Agreement, to be effective, shall be in writing and shall be delivered by hand (deemed accepted on delivery), sent by overnight courier (deemed accepted on the day following the date evidenced by the carrier of delivery to it) or mailed by certified mail (deemed accepted five (5) days following the date reflected on the certificate of mailing), in each case, postage and fees prepaid, as follows:
If to the Company, then to:

BBCN Bancorp, Inc.
3731 Wilshire Blvd., Suite 1000
Los Angeles, CA  90010
Attention:  Legal Department

with copies (which shall not constitute notice) to:

Morrison & Foerster LLP
707 Wilshire Boulevard, Suite 6000
Los Angeles, California 90017
Attention:  Henry Fields

If to the Executive:

595 Meadow Grove Street
La Canada Flintridge, California 91011, or 

to his last address set forth on the payroll records of the Company.

With copies (which shall not constitute notice) to:

Blank Rome, LLP
2029 Century Park East
Sixth Floor
Los Angeles, California 90067
Attention: Jeffrey R. Richter

or to such other address as a party may notify the other pursuant to a notice given in accordance with this Section 18.

Section 19.    Miscellaneous.
Section 19.01.    Amendment.  This Agreement may not be amended or revised except by a writing signed by the parties.
Section 19.02.    Assignment and Transfer.  The obligations of the Executive may not be delegated and the Executive may not, without the Company’s prior written consent thereto, assign, transfer, convey, pledge, encumber, hypothecate or otherwise dispose of this Agreement or any interest herein.  Any such attempted delegation or disposition shall be null and void and without effect.  The Company and the Executive agree that this Agreement and all of the Company’s rights and obligations hereunder may be assigned or transferred by the Company to and may be assumed by and become binding upon and may inure to the benefit of any affiliate of or successor to the Company.  The term “successor” shall mean (with respect to the Company) any other corporation or other business entity that, by merger, consolidation, stock purchase, purchase of the assets, or otherwise, acquires all or a material part of its assets.  Any assignment by the Company of its respective rights or obligations hereunder to any affiliate of or successor to the Company shall not be a termination of employment for purposes of this Agreement. Nothing in this Section 19.02 shall obviate the provisions of Exhibit C regarding Change in Control.
Section 19.03.    Section 409A.
(a)    To the maximum extent permitted under Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), the Severance and other payments and benefits payable to the Executive under this Agreement are intended to be exempt from Section 409A in reliance on the “separation pay exception” under Section 1.409A-1(b)(9)(iii) of the Department of Treasury final regulations and/or the “short-term deferral exception” under Section 1.409A-1(b)(4) of the Department of Treasury final regulations.  To the extent any provision of this Agreement is ambiguous as to its compliance with Section 409A (or an exemption therefrom), such provision will be read in such a manner so that all payments hereunder comply with Section 409A (or an exemption therefrom).  The parties hereto acknowledge and agree that the interpretation of Section 409A and its application to the terms of this Agreement is uncertain and may be subject to change as additional guidance and interpretations become available.  In no event shall the Company or an affiliate be liable for any additional tax, interest or penalty that may be imposed on the Executive pursuant to Section 409A or damages for failing to comply with Section 409A.  Anything to the contrary herein notwithstanding, all benefits or payments provided by the Company to the Executive that would be deemed to constitute “nonqualified deferred compensation” within the meaning of Section 409A are intended to comply with Section 409A.  If, however, any such benefit or payment is deemed to not comply with Section 409A, the Company and the Executive agree to renegotiate in good faith any such benefit or payment (including, without limitation, as to the timing of any Severance payable hereunder) so that either (i) Section 409A will not apply or (ii) compliance with Section 409A will be achieved.
(b)    A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits subject to Section 409A upon or following a termination of employment unless such termination is also a “separation from service” as defined in Section 1.409A-1(h) of the Department of Treasury final regulations, including the default presumptions, and for purposes of any such provision of this Agreement, references to a “resignation,” “termination,” “terminate,” “termination of employment” or like terms shall mean separation from service.
(c)    If any payment, compensation or other benefit provided to the Executive in connection with Executive’s employment termination is determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A and the Executive is a “specified employee” as defined in Section 409A(a)(2)(B)(i), then no portion of such “nonqualified deferred compensation” shall be paid before the earlier of (i) the first regularly scheduled payroll date following the sixth (6th) month after the date of termination or (ii) the first regularly scheduled payroll date following the Executive’s death (the “New Payment Date”).  The aggregate of any payments that otherwise would have been paid to the Executive during the period between the date of termination and the New Payment Date shall be paid to the Executive in a lump sum on such New Payment Date.  Thereafter, any payments that remain outstanding as of the day immediately following the New Payment Date shall be paid without delay over the time period originally scheduled, if applicable, in accordance with the terms of this Agreement. Notwithstanding the foregoing, to the extent that the foregoing applies to the provision of any ongoing welfare benefits to the Executive that would not be required to be delayed if the premiums therefor were paid by the Executive, the Executive shall pay the full cost of premiums for such welfare benefits during the six-month period and the Company shall pay the Executive an amount equal to the amount of such premiums paid by the Executive during such six-month period promptly after its conclusion.  It is specifically agreed that the amounts payable under Section 13.02(b) and 13.03(b) are exempt from Section 409A under the “separation pay exception” under Section 1.409A-1(b)(9)(iii) of the Department of Treasury final regulations and, therefore, are not subject to the six month delay requirement of this Subsection (c).  
(d)    All reimbursements for costs and expenses under this Agreement shall be paid in no event later than the end of the taxable year of the Executive following the taxable year in which the Executive incurs such expense.  With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit and (ii) the amount of expenses eligible for reimbursements or in-kind benefits provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year, provided, however, that the foregoing clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Internal Revenue Code of 1986, as amended, solely because such expenses are subject to a limit related to the period the arrangement is in effect.
(e)    For purposes of Section 409A, the Executive’s right to receive any installment payments, if any, pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments.
(f)    Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within thirty (30) days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Company.
Section 19.04.    Recoupment Policy.  The Executive hereby understands and agrees that the Executive is subject to the Company’s recoupment policy.  Under the current policy applicable to the Company’s senior executives, subject to the discretion and approval of the Parent Board and the Bank Board, as applicable, the Company may, to the extent permitted by governing law, require reimbursement or cancellation of any bonus or other incentive compensation, including stock-based compensation, awarded to the Executive where all of the following factors are present: (a) the award was predicated upon the achievement of certain financial results that were subsequently the subject of a material restatement, (b) the Parent Board and the Bank Board, as applicable, determines that the Executive engaged in fraud or intentional misconduct that was a substantial contributing cause to the need for the restatement, and (c) a lower award would have been made to the Executive based upon the restated financial results.  In each instance, the Company may seek to recover the Executive’s entire annual bonus payment and gain from such incentive or stock-based compensation received by the Executive within the relevant period, plus a reasonable rate of interest.
Section 19.05.    Compliance with Safety and Soundness Standards.  Notwithstanding anything contained herein to the contrary, in no event shall the total compensation paid out upon the departure of Executive to the Executive be in excess of that considered by the Federal Deposit Insurance Corporation, Federal Reserve Board, or the California Commissioner of Financial Institutions to be safe and sound at the time of such payment, taking into consideration all applicable laws, regulations, or other regulatory guidance.  Any payments made to Executive, pursuant to this Agreement or otherwise, are subject to and conditioned upon compliance with 12 U.S.C. Section 1828(k) and any regulations promulgated thereunder.
Section 19.06.    Waiver of Breach.  A waiver by the Company or the Executive of any breach of any provision of this Agreement by the other party shall not operate or be construed as a waiver of any other or subsequent breach by the other party.  Under no circumstances shall the Executive be deemed to have waived any rights that are non-waivable under applicable law.
Section 19.07.    Entire Agreement.  This Agreement contain the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior understandings and agreements among the parties, whether written or oral.
Section 19.08.    Captions.  Captions herein have been inserted solely for convenience of reference and in no way define, limit or describe the scope or substance of any provision of this Agreement.
Section 19.09.    Governing Law.  This Agreement shall be construed under and enforced in accordance with the laws of California.
Section 19.10.    Dispute Resolution.
(a)    The parties hereby agree that any controversy or claim arising out of or relating to this Agreement, including the arbitrability of any controversy or claim, which cannot be settled by mutual agreement, will be finally settled by binding arbitration in accordance with the American Arbitration Association Employment Dispute Resolution Procedures and Rules (“AAA Rules”) as follows:  Any party who is aggrieved will deliver a notice to the other party setting forth the specific points in dispute.  Any points remaining in dispute twenty (20) days after the giving of such notice may be submitted to arbitration in Los Angeles, California, to the American Arbitration Association or any other recognized dispute resolution service provider, upon ten (10) days’ notice to the other party.  The arbitration shall be held and conducted before a single arbitrator appointed in accordance with the AAA Rules, as such Rules may be amended from time to time and modified only as herein expressly provided.  The arbitrator may enter a default decision against any party who fails to participate in the arbitration proceedings.
(b)    The decision of the arbitrator on the points in dispute will be final, unappealable and binding, and judgment on the award may be entered in any court having jurisdiction thereof.  The parties agree that this Agreement has been entered by the parties to rapidly and inexpensively resolve any disputes between them and that this Agreement will be grounds for dismissal of any court action commenced by either party with respect to this Agreement, other than post-arbitration actions seeking to enforce an arbitration award.
(c)    As part of the arbitrator’s decision, the arbitration shall also determine which party is the prevailing party in such arbitration and which party is the non-prevailing party in such arbitration.  The non-prevailing party in the arbitration shall pay, and if appropriate, reimburse the prevailing party for all fees and expenses of the arbitrator and the arbitration and all of the reasonable attorneys’ fees and expenses incurred by the prevailing party in connection with the arbitration; provided, however, that, if Executive is determined to be the non-prevailing party, with respect to the fees and expenses of the arbitrator and the arbitration, the Executive shall be required to pay only a portion of the fees of the arbitrator that is equal to the filing fee the Executive would have paid had Executive filed a lawsuit to resolve the dispute and Executive’s own attorneys’ fees and expenses, and the Company shall pay the balance of the fees and expenses of the arbitrator and the arbitration and all of the attorneys’ fees and expenses incurred by the Company in connection with the arbitration.
(d)    The parties will keep confidential, and will not disclose to any person, except as may be required by law, the existence of any controversy hereunder, the referral of any such controversy to arbitration or the status or resolution thereof.
(e)    The Executive acknowledges that, prior to the signing of this Agreement, the Executive has had a sufficient opportunity to read and has read the AAA Rules.
(f)    The Executive acknowledges that this Agreement to submit to arbitration includes all controversies or claims of any kind (e.g., whether in contract or in tort, statutory or common law, legal or equitable) now existing or hereafter arising under any federal, state, local or foreign law, including, but not limited to, the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, the Employee Retirement Income Security Act, the Family and Medical Leave Act, the Americans With Disabilities Act, and all similar federal, state and local laws, and the Executive hereby waives all rights thereunder to have a judicial tribunal or a jury determine such claims.
Section 19.11.    Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and shall have the same effect as if the signatures hereto and thereto were on the same instrument.

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as a sealed instrument as of the day and year first above written.
Parent:

BBCN Bancorp, Inc.

By:                    

Name:    Dale Zuehls

Title:    Lead Independent Director, 
Board of Directors

Bank:

BBCN Bank

By:                    

Name:    David Malone

Title:    Chairman, Board of Directors

Executive:

                        
Kevin S. Kim

Exhibit A

2008 Long-Term Incentive Plan – Material Terms and Conditions

		
	1.
	Bank Contribution - $50,000 per Plan Year for the initial five (5) Plan Years.

		
	2.
	Crediting Rate – Six and one-quarter percent (6.25%)

		
	3.
	Vesting Performance Criteria for 2014:

		
	a.
	ROA – 1.30%

		
	b.
	ROE – 10.20%

		
	c.
	Bank Contributions will be made in accordance with Schedule A of the 2008 Long-Term Incentive Plan.

		
	4.
	Normal Retirement Age – Executive attaining age sixty-five (65)

Exhibit B

Form of Release Agreement

This RELEASE AGREEMENT (this “Release”) is dated as of ___________, 20__ and is entered into between Kevin S. Kim (the “Executive”), on the one hand, and BBCN Bancorp, Inc., a Delaware corporation (“Parent”) and BBCN Bank, a California state chartered bank (the “Bank”) (with the Parent and Bank being collectively referred to herein as the “Company”), on the other hand.
WHEREAS, the Company and the Executive previously entered into a certain Amended and Restated Employment Agreement dated July __ 2014 (the “Employment Agreement”); 
WHEREAS, the Executive's employment with the Company has terminated effective ______ __, 20__; and
WHEREAS, unless otherwise defined in this Release, all capitalized terms used in this Release shall have the meanings set forth in the Employment Agreement;
NOW, THEREFORE, in consideration of the premises and mutual agreements contained herein and in the Employment Agreement, the Company and the Executive agree as follows:
1.General Release By Executive.  

(a)    Except for the “Excluded Company Obligations” (defined in Section 2 below), the Executive, on his own behalf and on behalf of his heirs, estate and beneficiaries, does hereby release and discharge the Company, and in such capacities, any of its subsidiaries or affiliates, and each past or present officer, director, agent, employee, shareholder, and insurer of any such entities, and their respective representatives, attorneys, successors and assigns (collectively, the “Company Releasees”) from and with respect to any and all claims, wages, agreements, obligations, demands, actions, and causes of actions, whether known or unknown, suspected or unsuspected, concealed or hidden (collectively, the “Claims”), of any kind whatsoever, including, without limitation, all of the following:  (i) any Claims arising out of or in connection with the Employment Agreement; (ii) any Claims arising out of the Executive’s employment or other service with the Company or any of its subsidiaries or affiliates; (iii) any Claims arising out of or in connection with the termination of Executive’s employment with, or his separation from, the Company or any of its subsidiaries or affiliates; (iv) any Claims for severance pay, bonus or similar benefit, sick leave, pension, retirement, vacation pay, life insurance, health or medical insurance or any other fringe benefit; (v) any Claims for any benefits arising from any ERISA benefit plan, workers’ compensation or disability; (vi) any other Claims arising out of any act committed or omitted during or after the existence of Executive’s employment or other service relationship with the Company or any of its subsidiaries or affiliates, all up through and including the date on which this Release is executed by the Executive, including, without limitation, any Claim arising in tort, contract or violation of applicable law; and (vii) any Claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Family and Medical Leave Act, the California Fair Employment and Housing Act, or any other federal, state or local law, regulation or ordinance.  

(b)    The release set forth in this Section 1 does not prevent Employee from filing a charge with or participating in an investigation by a governmental administrative agency; provided, however, that Employee waives any right to receive any monetary award resulting from such a charge or investigation, including, without limitation, interest, penalties, fines, and attorneys’ fees.

(c)    The Executive relinquishes any right to future employment with the Company and the Company shall have the right to refuse to re-employ the Executive, in each case without liability of the Executive or the Company or any of its subsidiaries or affiliates.  

2.Excluded Company Obligations.  Notwithstanding the provisions of Section 1 above, the Company and the Executive acknowledge and agree that the release contained in Section 1 above does not, and shall not be construed to, release, discharge, eliminate, restrict or limit any of the following (“Excluded Company Obligations”):

(a)    the scope of any  obligation of the Company to indemnify the Executive for his acts as an officer or director of Company, in accordance with the charter, bylaws of the Company, applicable law, the Employment Agreement or any other agreement, 

(b)    the scope of any obligation of the Company to the Executive and his eligible, participating dependents or beneficiaries under any group welfare (excluding severance), equity, or retirement plan of the Company in which the Executive and/or such dependents are participants, 

(c)    the rights, if any, of the Executive or any of the Executive’s affiliates, heirs, estate and beneficiaries, as a holder of any equity or debt securities of the Company, 

(d)    the obligations of the Company, and the rights and remedies of the Executive, under any Award Agreement entered into by the Executive and the Company,

(e)    the obligations of the Company to pay and provide, and the right of the Executive to obtain and receive, and the remedies of the Executive to enforce such right to obtain and receive, any and all Accrued Benefits and Severance to which the Executive is entitled under the Employment Agreement, and

(f)    the duties and obligations of the Company under this Release, and the remedies of the Executive in the event the Company fails to perform or comply with any such duties and obligation.

3.ADEA Release.  Executive also expressly acknowledges and agrees that, in addition to the general and specific releases set forth in Section 1 above, Executive is waiving and releasing any and all rights or claims against the Company Releasees that Executive may have arising under the Age Discrimination in Employment Act of 1967, as amended (“ADEA”).  Executive also expressly acknowledges and agrees that:

(a)    In return for the releases set forth herein, Executive will receive consideration in addition to that which Executive was already entitled to receive before entering into this Release, including, without limitation, the Severance;

(b)    Company has advised Executive to consult with an attorney before signing this Release;

(c)    Executive was given a copy of this Release and informed that Executive has twenty-one (21) days within which to consider this Release.  In the event the Executive elects to sign this Release prior to the expiration of this 21-day period, then Executive agrees that it is a knowing and voluntary waiver of Executive’s right to wait the full 21-day period;

(d)    Executive is informed that Executive has seven (7) days following the date of execution of this Release by the Executive in which to revoke in writing this Release, understanding that this Release will not be effective or enforceable until this seven (7)-day revocation period has expired without Executive having exercised Executive’s right of revocation.  If Executive does exercise Executive’s right to revoke this Release in writing within said seven (7)-day revocation period, then this Release shall be of no force or effect; and 

(e)    Executive understands that this Release must be returned to the Company within twenty-one (21) days after it is received by the Executive.

4.    General Release by the Company.  Except for the “Excluded Executive Obligations” (defined in Section 5 below), the Company, on behalf of the Parent and the Bank and on behalf of their respective subsidiaries and affiliates, and their respective successors and assigns, does hereby release and discharge the Executive, together with his representatives, heirs, attorneys, successors and assigns (together, the “Executive Releasees”), from and with respect to any and all claims, agreements, obligations, demands, actions, and causes of actions (collectively, the “Executive Claims”) that the Company has against the Executive as of the date of execution of this Release by the Company, but in each case only those Executive Claims against the Executive with respect to which the Company has actual or constructive knowledge, all up through and including the date on which this Release is executed by the Company (collectively, the “Company Known Claims”).

5.    Excluded Executive Obligations.  Notwithstanding the provisions of Section 4 above, the Company and the Executive acknowledge and agree that the release contained in Section 4 above does not, and shall not be construed to, release, discharge, eliminate, restrict or limit any of the following (“Excluded Executive Obligations”):

(a)    the scope of any  obligation of the Executive to cooperate in connection with the Company’s obligation to indemnify the Executive for his acts as an officer or director of Company, in accordance with the charter, bylaws of the Company, applicable law, the Employment Agreement or any other agreement;

(b)    the obligations of the Executive, and the rights and remedies of the Company, under any Award Agreement entered into by the Executive and the Company, 

(c)    the duties and obligations of the Executive under the Employment Agreement arising after the date of execution of this Release by the Company, and the remedies of the Company in the event the Executive fails to perform or comply with any such duties and obligations,

(d)    the duties and obligations of the Executive under this Release, and the remedies of the Company in the event the Executive fails to perform or comply with any such duties and obligation, and

(e)    any claims, actions and causes of action that the Company has or may have against the Executive with respect to which the Company did not have actual or constructive knowledge prior to the date of execution of this Release by the Company.

6.    Section 1542.  The Release set forth in Section 1 above shall be effective as a full and final accord and satisfaction and release of and from all liabilities, disputes, claims and matters covered under this Release, known or unknown, suspected or unsuspected.  In furtherance of this intention, the Executive acknowledges that he have been informed of the provisions of Section 1542 of the California Civil Code, and he does hereby expressly waive and relinquish all rights and benefits he has or may ever have had under that section, which provides as follows:

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.
Having been apprised of Section 1542, Executive waives and relinquishes any right or benefit that he may have under Section 1542 of the Civil Code of the State of California.  In connection with such waiver and relinquishment, Executive acknowledges that he may hereafter discover claims or facts in addition to or different from those that he now knows or believes to exist with respect to the Company or the subject matter of this Release, but that it is his intention hereby fully, finally and forever to settle and release all of the matters, disputes and differences, known and unknown, suspected or unsuspected, which now exist, may exist, or heretofore have existed, between the Executive and the Company, except as otherwise provided under this Release.  In furtherance of this intention, the release herein shall be and remain in effect as a full and complete general release notwithstanding the discovery or existence of any such additional or different claims or facts.  

7.    Non-Disparagement.  Neither the Executive nor the Company will disparage the other party, or make any remarks or statements that could reasonably be construed as disparaging of the other party.  The foregoing restriction shall not prohibit either party, directly or through his or its representatives, from giving truthful testimony in any legal proceeding pending before any agency or court of the United States or state government or in any arbitration or other legal proceedings relating to this Agreement; nor will it prohibit either party from defending or explaining outside of any such proceeding any violation by the other party of the foregoing restriction.

8.    Modifications or Alterations by Executive; Amendment; Waivers.  This Release must be signed and returned to the Company by the Executive without any modification or alteration by the Executive.  Any modification or alteration of any terms of this Release made by the Executive when it is submitted or returned by the Executive to the Company shall render this Release void in its entirety and this Release shall be of no force or effect, and the Executive shall not be considered to have executed or delivered this Release to the Company or otherwise for any purpose.  This Release may be modified or amended only by a writing signed by both the Company and the Executive and no waiver of any provision in this Release shall be binding on any party unless such waiver is in writing and signed by such party.  

9.    Miscellaneous.  This Release shall be governed by, interpreted under and enforced, in accordance with the laws of the State of California, excluding such state’s conflict of laws principles.  If any provision of this Release or its application is held invalid, the invalidity shall not affect other provisions or applications of the Release which can be given effect without the invalid provisions or application and, therefore, the provisions of this Release are declared to be severable.  Except as otherwise specifically provided herein, this Release constitutes the entire agreement of the parties with respect to Executive’s employment with and separation from the Company, and supersedes all prior negotiations and all agreements, whether written or oral.  This Release is binding on and enforceable against the heirs, successors and assigns of Executive and the Company.  This Release is not and shall not be construed as an indication that the Company or Executive may have engaged in any wrongful conduct.  This Release may be executed in counterparts, and each counterpart, when executed, shall have the efficacy of a signed original.  Photographic and facsimile copies of such signed counterparts may be used in lieu of the originals for any purpose.  

10.    Certain Acknowledgments by Executive.  Executive has read and understands this Release and voluntarily signs it without coercion, acknowledging that the benefits herein are adequate and the only consideration for this Release.  Executive confirms that no promise or inducement not contained in this Release has been offered or made to cause Executive to sign this Release.  In addition, Executive acknowledges that Executive was given twenty-one (21) days to consider this Release.  If Executive signs and dates this Release and returns it to the Company before the expiration of such twenty-one (21) day period, then Executive acknowledges that Executive voluntarily chose to sign this Release without regard to that period.  Executive hereby declares under penalty of perjury that all of the foregoing set forth in this Section is true and correct and acknowledges that the Company would not enter into this Release if any of the foregoing set forth in this Section is not true or correct.  

This Release is executed by the Company and by Executive on the dates indicated below their signatures below.  

Parent:

BBCN Bancorp, Inc.

By: ____________________________
Name: _________________________
Title: __________________________
Date of Signature:  _______________

Bank:

BBCN Bank

By:  ___________________________
Name: _________________________
Title: __________________________
Date of Signature:  _______________

Executive:

___________________________
Kevin S. Kim

Date of Signature:  ___________

Exhibit C

Definition of Change in Control

A “Change in Control” shall mean any transaction or series of related transactions as a result of which: 

(a)    The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) or the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (i) the then outstanding shares of common stock of the Parent (the “Outstanding Parent Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Parent entitled to vote generally in the election of directors (the “Outstanding Parent Voting Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change in Control:  (i) any acquisition directly from the Parent, (ii) any acquisition by the Parent, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Parent or any corporation controlled by the Parent, or (iv) any acquisition by any corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subsection (c) of this Section 2; or

(b) Individuals who, as of the date hereof, constitute the Parent Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Parent Board; provided, however, that any individual becoming a director of the Parent subsequent to the date hereof whose election, or nomination for election by the Parent’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or

(c)    Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Parent (a “Business Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Parent Common Stock and Outstanding Parent Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Parent or all or substantially all of the Parent’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Parent Common Stock and Outstanding Parent Voting Securities, as the case may be, (ii) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Parent or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 50% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (iii) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Parent Board, providing for such Business Combination; or 

(d)    Approval by the shareholders of the Parent of a complete liquidation or dissolution of the Parent.

For avoidance of doubt a transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Parent’s or the Bank’s incorporation.

Exhibit D

Performance Criteria for 2014

	
			
	CEO Performance Criteria for 2014
	2014 Goal
	Weight

	1.    Financial Goals
	 
	 

	a.    ROA
	1.30%
	1/6

	b.    ROE
	10.20%
	1/6

	 
	 
	 

	2.    Leadership and Management Effectiveness
	 
	 

	a.    Retention of Key Officers
	 
	1/6

	b.    Positive Morale of Employees
	 
	1/6

	 
	 
	 

	3.    Achievement of Strategic Goals and Initiatives
	 
	1/3

1

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