Document:

EX-10.17

 Exhibit 10.17 

CALIFORNIA BANCORP 

RESTRICTED STOCK UNIT AGREEMENT

California BanCorp, a California corporation, (the “Company” or “BanCorp”), hereby awards you a
Restricted Stock Unit Award (the “Stock Units”). The terms and conditions of the Award are set forth in this cover sheet and the attached Restricted Stock Unit Agreement (together, this “Agreement”) and in the California
BanCorp 2017 Equity Incentive Plan as it may be amended from time to time (the “Plan”). “Shares” means shares of Bancorp Common Stock. “Service” means rendering service to BanCorp or its
Subsidiaries as an advisor, Director or employee. Capitalized terms in this Agreement that are not defined shall have the meanings set forth in the Plan. 

Date of Award: 
 Name of Participant: 

Number of Restricted Stock Units Awarded: 
 Vesting Calculation
Date: 
 Vesting Schedule: [Subject to your continuous Service, the Stock Units shall vest in three (3) equal installments on each of
the first three (3) anniversaries of the Vesting Calculation Date.] [Subject to your continuous Service, the Stock Units shall vest in a single installment on the first anniversary of the Vesting Calculation Date.] 

By signing this cover sheet, you agree to all terms and conditions described in this Agreement and in the Plan. You further represent that you (i) fully
understand and accept all provisions of the Plan and this Agreement; and (ii) agree to accept as binding, conclusive, and final all of the Committee’s decisions regarding, and all interpretations of, the Plan and this Agreement. This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall be deemed one instrument. 
  

									
	CALIFORNIA BANCORP	 		 	AGREED AND ACCEPTED:
					
	By:	 	 	 		 	Signature:	 	 
					
	Title:	 	 	 		 	Name:	 	 

  
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 CALIFORNIA BANCORP 

RESTRICTED STOCK UNIT AGREEMENT 
  

	1.	 The Plan and Other Agreements. The text of the Plan is incorporated in this Agreement by this reference.
You and the Company agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement. . This Agreement and the Plan constitute the entire understanding between you and
the Company regarding this Award of Restricted Stock. Any prior agreements, commitments or negotiations are superseded. 

  

	2.	 Award of Stock Units. The Company awards you the number of Stock Units shown on the cover sheet of this
Agreement. The Award is subject to the terms and conditions of this Agreement and the Plan. This Award is not intended to constitute a nonqualified deferred compensation plan within the meaning of section 409A of the Code and will be interpreted
accordingly. 

  

	3.	 Vesting. This Award will vest according to the Vesting Schedule on the attached cover sheet, unless and
until your Service terminates. Vested Stock Units shall be settled as provided in Section 7. 

  

	4.	 Return of Stock Units to Company. Upon the occurrence termination of your Service for any reason, all
then outstanding unvested Stock Units shall be forfeited and returned to the Company without consideration. 

  

	5.	 Leaves of Absence. For purposes of this Award, your Service does not terminate when you go on a bona
fide leave of absence that was approved by the Company in writing, if the terms of the leave provide for Service crediting, or when Service crediting is required by applicable law. Your Service terminates in any event when the approved leave ends
unless you immediately return to active work. The Company determines which leaves count for this purpose (along with determining the effect of a leave of absence on vesting of the Award), and when your Service terminates for all purposes under the
Plan. 

  

	6.	 Transfer of Award. You cannot gift, transfer, assign, alienate, pledge, hypothecate, attach, sell, or
encumber this Award. If you attempt to do any of these things, this Award will immediately become invalid. You may, however, dispose of this Award in your will or it may be transferred by the laws of descent and distribution. Regardless of any
marital property settlement agreement, the Company is not obligated to recognize your spouse’s interest in your Award in any other way. 

  

	7.	 Settlement of Vested Stock Units. To the extent a Stock Unit becomes vested and subject to
Participant’s satisfaction of any tax withholding obligations, each vested Stock Unit will entitle Participant to receive one Share (or a cash amount equal to the Fair Market Value of a Share on such date of vesting and the Committee in its
discretion may decide to settle vested Stock Units with cash and/or Shares) on the applicable vesting date or as soon as practicable thereafter, but not later than thirty (30) days from the vesting date (the actual date of such issuance during
such period shall be solely determined by the 

  
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Company) in exchange for such vested Stock Unit. Issuance of such Shares and/or cash shall be in complete satisfaction of such vested Stock Units. Such settled Stock Units shall be immediately
cancelled and no longer outstanding and Participant shall have no further rights or entitlements related to those settled Stock Units. 

  

	8.	 Voting and Other Rights. Participant shall have no rights of a shareholder with respect to the Stock
Units including, without limitation, no right to vote the Stock Units (or underlying Shares). 

  

	9.	 Restrictions on Issuance. The Company will not issue any Shares if the issuance of such Shares at that
time would violate any law or regulation. 

  

	10.	 Taxes and Withholding. You will be solely responsible for payment of any and all applicable taxes,
including without limitation any penalties or interest based upon such tax obligations, associated with this Award. The delivery to you of any vested Shares will not be permitted unless and until you have satisfied any withholding or other taxes
that may be due. Any such tax withholding obligations may be settled in the Company’s discretion by the Company withholding and retaining a portion of the Shares from the Shares that would otherwise be deliverable to you under the vesting Stock
Units as provided in the next two sentences. Such withheld Shares will be applied to pay the withholding obligation by using the aggregate fair market value of the withheld Shares as of the date of vesting. You will be delivered the net amount
of vested Shares after the Share withholding has been effected and you will not receive the withheld Shares. The Company will not deliver any fractional number of Shares. 

 

	11.	 Clawback Policy. You expressly acknowledge and agree to be bound by any Company policy on recoupment of
equity or other compensation, including the clawback provisions contained in Section 20 of the Plan. 

  

	12.	 No Employment or Retention Rights. Your Award or this Agreement does not give you the right to be
retained by the Company (and any Subsidiaries) as an employee or in any other capacity. The Company (and any Subsidiaries) reserves the right to terminate your Service at any time and for any reason. 

 

	13.	 Extraordinary Compensation. The Stock Units and the Shares subject to the Stock Units are not intended
to constitute or replace any pension rights or compensation and are not to be considered compensation of a continuing or recurring nature, or part of your normal or expected compensation, and in no way represent any portion of your salary,
compensation or other remuneration for any purpose, including but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, pension or retirement benefits or
similar payments. 

  

	14.	 Adjustments. If the Company pays dividends with respect to the shares of Common Stock (the date of any
such payment is a “Dividend Date”), then Dividend Equivalents shall then be credited to any then outstanding Stock Units. The amount of such Dividend Equivalents credited will be the dollar value of dividends paid on an actual share
of 

  
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Common Stock on the Dividend Date, multiplied by the number of outstanding Stock Units outstanding under this Award Agreement as of the Dividend Date. This aggregate dollar amount will be
credited to this Award as Dividend Equivalents. Such Dividend Equivalents will be subject to the Plan and the same vesting (on a pro-rata basis based on each vesting tranche of Stock Units outstanding
hereunder on the Dividend Date), forfeiture restrictions, restrictions on transferability, and settlement provisions as apply to the Stock Units to which the Dividend Equivalents are attached. 

In the event of a stock split, a stock dividend or a similar change in the Company stock, the number of Stock Units covered by this Award may
be adjusted (and rounded down to the nearest whole number) pursuant to the Plan. Your Stock Units shall be subject to the terms of the agreement of merger, liquidation or reorganization in the event the Company is subject to such corporate activity.

  

	15.	 Legends. All certificates or book entries representing the Common Stock issued under this Award may,
where applicable, have endorsed thereon the following notations or legends and any other notation or legend the Company determines appropriate: 

“THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND OPTIONS TO PURCHASE SUCH SHARES SET FORTH
IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR IN INTEREST. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY OF THE
COMPANY BY THE HOLDER OF RECORD OF THE SHARES REPRESENTED BY THIS CERTIFICATE.” 
 “THE SHARES REPRESENTED HEREBY HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH
REGISTRATION IS NOT REQUIRED.” 
  

	16.	 Applicable Law.. This Agreement will be interpreted and enforced under the laws of the State of
California without reference to the conflicts of law provisions thereof. 

  

	17.	 Binding Effect; No Third Party Beneficiaries. This Agreement shall be binding upon and inure to the
benefit of the Company and you and any respective heirs, representatives, successors and permitted assigns. This Agreement shall not confer any rights or remedies upon any person other than the Company and you and any respective heirs,
representatives, successors and permitted assigns. The parties agree that this Agreement shall survive the settlement or termination of the Award. 

  

	18.	 Notice. Any notice to be given or delivered to the Company relating to this Agreement shall be in
writing and addressed to the Company at its principal corporate offices. All notices shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, 

  
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postage prepaid and properly addressed to the Company. Any notice to be given or delivered to you relating to this Agreement may be delivered by email (including prospectuses required by the SEC)
as well as all other documents that the Company is required to deliver to its security holders (including annual reports and proxy statements). The Company may also deliver these documents by posting them on a web site maintained by the Company or
by a third party under contract with the Company. 

  

	19.	 Voluntary Participant. You acknowledge that you are voluntarily participating in the Plan.

  

	20.	 No Rights to Future Awards. Your rights, if any, in respect of or in connection with any future Awards
are derived solely from the discretionary decision of the Company to permit you to participate in the Plan and to benefit from a discretionary future Award. By accepting this Award, you expressly acknowledge that there is no obligation on the part
of the Company to continue the Plan and/or grant any additional Awards to you or benefits in lieu of any other Awards even if Awards have been granted repeatedly in the past. All decisions with respect to future Awards, if any, will be at the sole
and absolute discretion of the Committee. 

  

	21.	 Future Value. The future value of the underlying Shares is unknown and cannot be predicted with
certainty. If the underlying Shares do not maintain or increase their value after the Date of Award, the Award could have little or no value. 

  

	22.	 No Advice Regarding Award. The Company has not provided any tax, legal or financial advice, nor has the
Company made any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying Shares. You are hereby advised to consult with your own personal tax, legal and financial advisors regarding your participation
in the Plan before taking any action related to the Plan. 

  

	23.	 No Right to Damages. You will have no right to bring a claim or to receive damages if any portion of the
Award is cancelled or expires. The loss of existing or potential profit in the Award will not constitute an element of damages in the event of the termination of your Service for any reason, even if the termination is in violation of an obligation
of the Company or a Subsidiary to you. 

  

	24.	 Data Privacy. You hereby explicitly and unambiguously consent to the collection, use and transfer, in
electronic or other form, of your personal data as described in this document by the Company for the exclusive purpose of implementing, administering and managing your participation in the Plan. You understand that the Company holds certain personal
information about you, including, but not limited to, name, home address and telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships
held in the Company, details of all Awards or any other entitlement to Shares awarded, cancelled, purchased, exercised, vested, unvested or outstanding in your favor for the purpose of implementing, managing and administering the Plan
(“Data”). You understand that the Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be

  
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located in your country or elsewhere and that the recipient country may have different data privacy laws and protections than your country. You authorize the recipients to receive, possess, use,
retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data, as may be required to a broker or other third
party with whom you may elect to deposit any Shares acquired under the Plan. 

  

	25.	 Other Information. You agree to receive shareholder information, including copies of any annual report,
proxy statement and periodic report, from the Company’s website, if the Company wishes to provide such information through its website. You acknowledge that copies of the Plan, Plan prospectus, Plan information and shareholder information are
also available upon written or telephonic request to the Plan’s administrator. 

  

	26.	 Further Assistance. You agree to provide assistance reasonably requested by the Company in connection
with actions taken by you while providing services to the Company, including but not limited to assistance in connection with any lawsuits or other claims against the Company arising from events during the period in which you rendered service to the
Company. 

  

	27.	 General. 

(a)    In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this
Agreement, the terms and conditions of the Plan shall prevail. 
 (b)    The rights of the Company under this Agreement
and the Plan shall be transferable to any one or more persons or entities, and all covenants and agreements hereunder shall inure to the benefit of, and be enforceable by the Company’s successors and assigns. Your rights and obligations under
this Agreement may only be assigned with the prior written consent of the Company. 
 (c)    Should any provision or
portion of this Agreement be held to be unenforceable or invalid for any reason, the remaining provisions and portions of this Agreement shall be unaffected by such holding. 

(d)    YOU ACKNOWLEDGE AND AGREE THAT THE ISSUANCE OF SHARES PURSUANT TO THIS AGREEMENT SHALL BE EARNED ONLY BY YOU
RENDERING SERVICE OR AS OTHERWISE PROVIDED HEREIN, AND NOT THROUGH THE ACT OF BEING HIRED, APPOINTED OR OBTAINING SHARES HEREUNDER. 

  
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 Exhibit 10.18 

SECOND AMENDED AND RESTATED 

CALIFORNIA BANK OF COMMERCE 

SPLIT-DOLLAR AGREEMENT 
 (By
and Between CALIFORNIA BANK OF COMMERCE and STEVEN E. SHELTON) 
 Insurer/Policy: Guardian Life Insurance Company of America Policy # 

John Hancock Life Insurance Company Policy # 

Midland National Life Insurance Company Policy # 

The Penn Mutual Life Insurance Company Policy # 
  

			
	 Bank:
	  	 California Bank of Commerce

		
	 Insured:
	  	 Steven E. Shelton

		
	 Relationship of Insured to Bank:
	  	 Executive

		
	 Effective Date:
	  	 1/13, 2019

 This “Second Amended and Restated California Bank of Commerce Split-Dollar Agreement (hereinafter
“Agreement”) is made and entered into effective as of 1/13, 2019, by and between California Bank of Commerce (the “Bank” or “Employer”) and Steven E. Shelton (“Insured”). Furthermore, this Agreement is
intended to amend, supersede and replace the Amended and Restated California Bank of Commerce Split-Dollar Agreement by and between the Bank and Insured, effective as of December 31, 2015, in its entirety. Wherefore, the parties agree as follows:

 The respective rights and duties of CALIFORNIA BANK OF COMMERCE (hereinafter the “Bank”) and STEVEN. E. SHELTON (hereinafter
the “Insured”) in the above-referenced Policy(ies) shall be pursuant to the terms set forth below: 
  

	1.	 DEFINITIONS. 

Refer to the Policy(ies’) contract for the definition of any terms in this Agreement that is not defined herein. If the
definition of a term in the Policy(ies) is inconsistent with the definition of a term in this Agreement, then the definition of the term as set forth in this Agreement shall supersede and replace the definition of the terms as set forth in the
Policy(ies). 
  

	 	1.1	 Accelerated Benefit. The term “Accelerated Benefit” shall mean amounts requested and
received pursuant to any Policy(ies) rider permitting the policyowner or Insured access to portions of the eligible death benefit in the event the Insured is diagnosed with a chronic or terminal illness [as required by the individual Policy(ies)].

	 	1.2	 Beneficiary. The term “Beneficiary” shall mean one or more persons, trusts, estates or
other entities, designated in accordance with Paragraph 3 below that are entitled to receive benefits under this Plan upon the death of Insured. 

  

	 	1.3	 Beneficiary Designation Form. “Beneficiary Designation Form” shall mean the form
established from time to time by the Bank and the Administrator, which an Insured completes, signs and returns to designate one or more Beneficiaries. 

  

	 	1.4	 Board. “Board” means the Board of Directors of the Bank. 

 

	 	1.5	 Claimant. “Claimant” shall have the meaning assigned to an individual who makes a claim
pursuant to the provisions of Paragraph 12 below. 

  

	 	1.6	 Code. The term the “Code” shall mean the Internal Revenue Code of 1986, as amended from
time to time. 

  

	 	1.7	 Disability/Disabled. The Terms “Disability” or Disabled” shall be deemed to have the
same meaning as they are prescribed in the Executive Supplemental Compensation Agreement. 

  

	 	1.8	 ERISA. The term “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as
amended. 

  

	 	1.9	 Net Amount-at-Risk.
The term “Net Amount-at-Risk” (hereinafter “NAR”) shall be defined as the total proceeds of the Policy(ies) less the cash value of the Policy(ies).

  

	 	1.10	 Plan. The term “Plan” refers to this arrangement, as evidenced by this Agreement, whereby
Insured (or Insured’s Beneficiary) is entitled to receive a benefit. 

  

	 	1.11	 SERP. The “SERP” shall mean the Executive Supplemental Compensation Agreement (hereinafter
“Agreement”) made and entered into by and between the parties. 

  

	 	1.12	 Separation From Service/Termination of Employment. The terms “Separation From Service”
(Separates From Service) and “Termination of Employment” shall be used interchangeably for the purposes of this Agreement and shall be defined in accordance with the provisions of Code Section 409A. Code Section 409A provides
that whether a termination of employment has occurred is determined based on whether the facts and circumstances indicate that the Bank and Insured reasonably anticipate 

  
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that no further services will be performed after a certain date or that the level of bona fide services Insured will perform after such date (whether as an employee or as an independent
contractor) will permanently decrease to no more than twenty percent (20%) of the average level of bona fide services performed (as an employee or an independent contractor) over the immediately preceding
thirty-six (36) month period (or the full period of services to the Employer if the Insured has been providing services to the Employer less than 36 months). There shall be no Separation From Service
while the Insured is on military leave, sick leave or other bona fide leave of absence, as long as such leave does not exceed six (6) months, or if longer, so long as the Insured retains a right to re-employment with the Employer under an
applicable statute or by contract. 

 1.13   Termination For Cause. For the purposes of
this Agreement, “Termination For Cause” shall be defined as Insured’s Termination of Employment by the Bank for one or more of the following reasons: 
  

	 	A.	 Willfully breaching Bank policies or banking regulations; 

 

	 	B.	 Habitually neglecting the duties required to be performed under Insured’s Employment Agreement;

  

	 	C.	 Committing an intentional act that has a material detrimental effect on the reputation or business of the
Bank; 

  

	 	D.	 Conviction of a felony or committing any act of dishonesty, fraud, intentional misrepresentation or moral
turpitude as would prevent effective performance of Insured’s duties under Insured’s Employment Agreement; 

  

	 	E.	 Repeatedly or intentionally disregarding or failing to comply with a directive of the Board of Directors; or

  

	 	F.	 The Bank receiving a written finding, order or directive from any state or federal banking regulator with
jurisdiction over the Bank ordering the removal of Insured as an executive officer of the Bank. 

  
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	2.	 POLICY(IES) TITLE AND OWNERSHIP. 

 

	 	2.1	 Policy Ownership. Title and ownership of the Policy(ies) shall reside in the Bank for its use and for
the use of Insured in accordance with this Agreement. The Bank, in its sole discretion, may surrender or terminate the Policy(ies) at any time and for any reason. Where the Bank and Insured (or assignee, with the consent of the Insured) mutually
agree to exercise the right to increase the coverage under the subject Policy(ies), then, in such event, the rights, duties and benefits of the parties to such increased coverage shall continue to be subject to the terms of this Agreement. Subject
to the obligations herein, at all times prior to Insured’s death, the Bank shall be entitled to an amount equal to the Policy(ies)’s cash value, as that term is defined in the Policy(ies) contract, less any Policy loans, accelerated
benefits and unpaid interest or cash withdrawals previously incurred by the Bank and any applicable surrender charges. Such cash value shall be determined as of the date of surrender or death as the case may be. 

 

	 	2.2	 Sale, Surrender or Transfer of Policy(ies) and Rabbi Trust. The Bank (or the trustee, in the event of
the establishment of a rabbi trust, at the direction of the Bank) may sell, surrender or transfer ownership of the Policy to the Insurer or any third party, provided that, in the event of any such sale, surrender or transfer prior to termination of
this Agreement, the Bank (or Trustee) replaces the Policy with a life insurance policy or policies on the life of the Insured providing death benefits and Accelerated Benefits that are at least as much as those of the Policy(ies) being replaced. The
rights, duties and benefits of the Bank, Insured or the trustee with respect to any such replacement policy shall be subject to the terms of this Agreement. At the request of the Bank, Insured shall take any and all actions that the Bank determines
may be reasonably necessary for the sale, surrender or transfer of the Policy, the issuance of a replacement policy(ies), and subjecting the replacement policy(ies) to the terms of this Agreement. 

 

	 	2.3	 Policy Exchange. Whereas this Agreement references specific life insurance Policies and such existing
Policies are subject to exchange for new policies insuring Insured (“Replacement Policy[ies]”), the parties agree hereby that Replacement Policies shall, in all respects, replace the Existing Policies for which they were exchanged\ and
shall be subject to the terms of this Agreement. In addition, Insured agrees to cooperate with all exchanges requested by the Bank by providing and promptly returning signatures as requested by the Bank or Plan Administrator. 

  
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	3.	 BENEFICIARY DESIGNATION RIGHTS. 

 

	 	3.1	 Power to Designate Beneficiary(ies). Insured (or assignee) shall have the right and power to
designate a “Beneficiary” or “Beneficiaries” to receive Insured’s share of the proceeds payable upon the death of Insured, and to elect and change a payment option for such. Beneficiary, subject to any right or interest the
Bank may have in such proceeds, as provided in this Agreement. If no designated primary or secondary Beneficiary shall survive Insured, then all amounts due under this Agreement shall be paid to Insured’s estate. 

 

	 	3.2	 Effect of Divorce. A divorce will automatically revoke the portion of a Beneficiary Designation Form
designating the former spouse as a Beneficiary. The former spouse will be a Beneficiary under this Agreement only if a new such Beneficiary Designation Form naming the former spouse as a Beneficiary is filed after the date the dissolution decree is
entered. 

  

	 	3.3	 No Beneficiary Designation. In the absence of an effective Beneficiary Designation Form, or if all
stated Beneficiaries predecease Insured, then Insured’s designated Beneficiary shall be deemed to be Insured’s estate. 

  

	4.	 PREMIUM PAYMENT METHOD. 

Subject to the Bank’s absolute right to surrender or terminate the Policy(ies) at any time and for any reason, the Bank
shall pay the premium required for each Policy as it becomes due. 
  

	5.	 TAXABLE BENEFIT. 

Annually the Insured will receive a taxable benefit equal to the assumed cost of insurance as required by the Internal Revenue
Service. The Bank will report to the Insured the amount of imputed income each year on Form W-2 or its equivalent. 
  

	6.	 DIVISION OF DEATH PROCEEDS. 

Subject to Paragraphs 7 and 9 herein, the division of the death proceeds of the Policy(ies) is as follows: 

 

	 	6.1	 Entitlement to Death Benefit While Employed. Should Insured die prior to Separating From Service,
then Insured’s Beneficiary(ies) shall be entitled to receive an amount equal to the lesser of One Million Three Hundred Fifty Thousand Dollars ($1,350,000) or One Hundred Percent (100%) of the NAR. 

  
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	 	6.2	 Death Benefit After Disability in Certain Circumstances. Because there is an “elimination
period” that Insured must survive in order to receive the full Disability benefit contemplated under Paragraph 4.4.A of the SERP (i.e., in order for the Lloyd’s of London Individual Total Disability Policy to pay the differential between
the anticipated accruals required to fund the full benefit at normal retirement age and the accruals in place as of the date of Disability), then if Insured becomes entitled to receive a benefit under Paragraph 4.4A of the SERP but does not survive
the duration of the elimination period, Insured’s Beneficiary(ies) shall receive the lesser of the following amounts: 

  

	 	A.	 One Million Three Hundred Fifty Thousand Dollars ($1,350,000), less any Accrued Liability Balance paid out
pursuant to Paragraph 4.4A of the SERP; or 

  

	 	B.	 One Hundred Percent (100%) of the NAR. 

 

	 	6.3	 Death Benefit Following Separation From Service. Should Insured Separate From Service for any reason
other than as addressed above in Paragraph 6.2, then neither Insured nor Insured’s Beneficiary(ies) shall be entitled to receive any amount of the Policy(ies’) proceeds pursuant to this Agreement. 

 

	 	6.4	 Additional Considerations. 

 

	 	A.	 Policies to Pay. The Bank may select which Policy(ies) shall be used to pay death benefits due under
this Agreement. 

  

	 	B.	 Shared Interest. The Bank and Insured (or assignees) shall share in any interest due on the death
proceeds on a pro rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest. 

  

	 	C.	 Refund of Premium. Any refund of unearned premium as provided in any Policy(ies) shall be paid to the
Bank. 

  

	7.	 ACCELERATED BENEFIT IN THE EVENT OF TERMINAL OR CHRONIC ILLNESS (AS APPLICABLE) AND DIVISION OF CASH
SURRENDER VALUE OF THE POLICY(IES). 

  

	 	7.1	 Accelerated Benefit Rider- Requirements. Provided Insured has either (i) not Separated From
Service or (ii) Separates From Service for any reason other than a Termination For Cause, then he shall have the right to request 

  
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and receive an Accelerated Benefit up the amount specified hereinbelow in Paragraph 7.2. 

  

	 	7.2	 Amount of Accelerated Benefit. If Insured satisfies the requirements of Paragraph 7.1 above, then he
shall have the right to request, in writing, an amount not to exceed Three Hundred Thousand Dollars ($300,000), but subject to any further limitation on dollar amounts imposed by the Policy(ies). “Exhibit A” attached hereto represents a
sample Accelerated Benefit rider. This Exhibit A is not guaranteed to represent an actual rider in effect or included with any of the Policies governed by this Agreement, but is intended as a sample only. 

Any Accelerated Benefit paid to the Insured hereunder shall be deducted from any amounts to which Insured or his
Beneficiary(ies) is (or may be) entitled pursuant to the provisions of Paragraph 6 above. Neither Bank nor Corrigan & Company (PFIS) make any representations or warranties about the tax consequences of such a request for accelerated or
living benefits. 
  

	8.	 RIGHTS OF PARTIES WHERE POLICY(IES) ENDOWMENT OR ANNUITY ELECTION EXISTS. 

In the event the Policy(ies) involves an endowment or annuity element, the Bank’s right and interest in any endowment
proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the Policy’s cash value. Such
endowment proceeds or annuity benefits shall be considered death proceeds for the purposes of division under this Agreement. 
  

	9.	 TERMINATION OF AGREEMENT. 

 

	 	9.1	 Termination in Entirety by Operation. This Agreement shall terminate in its entirety upon any of the
following: 

  

	 	A.	 Insured Separates from Service and is not entitled to an Accelerated Benefit under Section 7;

  

	 	B.	 Upon the mutual written agreement of the Bank and Insured; or 

 

	 	C.	 Upon distribution of the death benefit proceeds in accordance with Paragraph 6.1 or 6.2 above.

  
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	10.	 INSURED’S OR ASSIGNEE’S ASSIGNMENT RIGHTS. 

Insured may not, without the written consent of the Bank, assign to any individual, trust or other organization, any right,
title or interest in the subject Policy(ies) nor any rights, options, privileges or duties created under this Agreement. 
  

	11.	 AGREEMENT BINDING UPON THE PARTIES. 

This Agreement shall bind Insured and the Bank, their heirs, successors, personal representatives and assigns. 

 

	12.	 ADMINISTRATIVE AND CLAIMS PROVISIONS. 

 

	 	12.1	 Named Fiduciary and Plan Administrator. The “Named Fiduciary and Plan Administrator”
(“Administrator”) of this plan shall be the Bank until its removal by the board of directors. As Administrator, the Bank shall be responsible for the management, control and administration of this Agreement as established herein. The
Administrator may delegate to others certain aspects of the management and operation responsibilities of the plan including the employment of advisors and the delegation of ministerial duties to qualified individuals. 

 

	 	12.2.	 Dispute Over Benefits. In the event a dispute arises over the benefits under this plan and benefits
are not paid to the Insured [or to the Insured’s Beneficiary(ies)], if applicable) and such Claimants feel they are entitled to receive such benefits, then a written claim must be made to the Administrator named above in accordance with the
following procedures: 

  

	 	A.	 Written Claim. The Claimant may file a written request for such benefit to the Administrator.

  

	 	B.	 Claim Decision. Upon receipt of such claim, the Administrator shall respond to such Claimant within
ninety (90) days after receiving the claim. If the Administrator determines that special circumstances require additional time for processing the claim, the Administrator can extend the response period by an additional ninety (90) days for
reasonable cause by notifying the Claimant in writing, prior to the end of the initial ninety (90) day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the
Administrator expects to render its decision. 

  
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 If the claim is denied in whole or in part, the Administrator shall notify
the Claimant in writing of such denial. The Administrator shall write the notification in a manner calculated to be understood by the Claimant. The notification shall set forth: 

 

	 	(i)	 The specific reasons for the denial; 

	 	(ii)	 The specific reference to pertinent provisions of the Agreement on which the denial is based;

	 	(iii)	 A description of any additional information or material necessary for Claimant to perfect the claim and an
explanation of why such material or information is necessary; 

	 	(iv)	 Appropriate information as to the steps to be taken if Claimant wishes to submit the claim for review and
the time limits applicable to such procedures; and 

	 	(v)	 A statement of Claimant’s right to bring a civil action under ERISA Section 502(a) following an
adverse benefit determination on review. 

  

	 	D.	 Request for Review. Within sixty (60) days after receiving notice from the Administrator that a
claim has been denied (in part or in its entirety), then Claimant (or their duly authorized representative) may file with the Administrator, a written request for a full and fair review of the denial of the claim. In the case of disability benefits
where a medical judgment was part of the basis of the adverse benefit determination, the review shall include a consultation with an independent health care professional. 

Claimant (or his duly authorized representative) shall then have the opportunity to submit written comments, documents,
records and other information relating to the claim. The Administrator shall also provide Claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable
ERISA regulations) to Claimant’s claim for benefits. 
  

	 	E.	 Decision on Review. The Administrator shall respond in writing to such Claimant within sixty
(60) days after receiving the request for review. If the Administrator determines that special circumstances require an extension of time for processing the claim, written notice of the extension shall be furnished to Claimant prior to the
termination of the initial sixty (60) day period. In no event shall such extension exceed a period of sixty (60) days from the end of the initial period. The notice of extension must set forth the special

  
 9 

	 	 
circumstances requiring an extension of time and the date by which the Administrator expects to render its decision. 

In considering the review, the Administrator shall take into account all materials and information Claimant submits relating
to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. 

The Administrator shall notify Claimant in writing of its decision on review. The Administrator shall write the notification
in a manner calculated to be understood by Claimant. The notification shall set forth: 
  

	 	(i)	 The specific reasons for the denial; 

	 	(ii)	 Reference the specific provisions of the Agreement on which the denial is based; 

	 	(iii)	 A statement that Claimant is entitled to receive, upon request and free of charge, reasonable access to, and
copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to Claimant’s claim for benefits; and 

	 	(iv)	 A statement of Claimant’s right to bring a civil action under ERISA Section 502(a).

  

	 	F.	 Special Timing and Rules for Disability Claims. In the event a claim above is a claim for disability
benefits, then the applicable time periods for notifying Claimant regarding benefit determinations shall be reduced as required by 29 CFR 2560.503-1 (within a reasonable period of time, but not to exceed
forty-five (45) days, subject to no more than two (2) thirty (30) day extensions if necessary due to matters beyond control of the plan and subject to proper notice being given). In the event any extension is required, then notice of such
extension shall specify the standards on which the entitlement to a benefit is based, all unresolved issues that prevent a decision on a claim, the additional information needed to resolve those issues, and Claimant shall be afforded at least
forty-five (45) days in which to provide the specified information. Additionally, all disability claims shall be handled in a manner which is compliant with the Department of Labor Rules, including but not limited to the following:

  

	 	(i)	 Claims and appeals will be adjudicated in a manner designed to ensure independence and impartiality of the
persons involved in making the benefit determination; 

  
 10 

	 	(ii)	 All benefit denial notices shall contain a complete discussion of why the claim was denied and the standards
applied in reaching the decision, including the basis for disagreeing with the views of health care professionals, vocational professionals, or the Social Security Administration; 

	 	(iii)	 Claimant shall have the right to access to the entire claim file and other relevant documents, and shall be
guaranteed the right to present evidence and testimony in support of their claim during the review process; 

	 	(iv)	 Claimant shall be given notice and a fair opportunity to respond before denials at the appeals stage are
based on new or additional evidence or rationales; 

	 	(v)	 Claimant is not prohibited from seeking court review of a claim denial based on a failure to exhaust
administrative remedies under the plan if the plan failed to comply with the claims procedure requirements (unless the violation was the result of a minor error); 

	 	(vi)	 Certain rescissions of coverage are to be treated as adverse benefit determinations triggering the
plan’s appeals procedures; and 

	 	(vii)	 All required notices and disclosures issued hereunder shall be written in a culturally and linguistically
appropriate manner. 

  

	13.	 GENDER. 

Whenever in this Agreement words are used in the masculine, feminine or neuter gender, they shall be read and construed as in
the masculine, feminine or neuter gender, whenever they should so apply. 
  

	14.	 INSURANCE COMPANY NOT A PARTY TO THIS AGREEMENT. 

The Insurer shall not be deemed a party to this Agreement but will respect the rights of the parties as herein developed upon
receiving an executed copy of this Agreement. Payment or other performance in accordance with the Policy(ies) provisions shall fully discharge the Insurer from any and all liability. 

 

	15.	 SEVERABILITY AND INTERPRETATION. 

If a provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall nonetheless be
enforceable according to their terms. Further, in the event that any provision is held to be overbroad as written such provision shall be deemed amended to narrow its application to the extent 

  
 11 

 
necessary to make the provision enforceable according to law and enforced as amended. 
  

	16.	 APPLICABLE LAW. 

The laws of the State of California shall govern the validity and interpretation of this Agreement. 

 

	17.	 EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES. 

The parties herein understand and agree that the payment of the benefits provided herein are subject to the
Policy’s(ies’) suicide and contestability clauses and other such clauses, and if such clauses preclude the Insurer from paying the full death proceeds, then, in such event, no death benefits of whatever nature shall be payable to
Insured’s (or Insured’s Assignees) Beneficiary(ies) under this Agreement. 
  

	18.	 CONFIDENTIALITY. 

Insured agrees that the terms and conditions of this Agreement, except as such may be disclosed in financial statements and
tax returns, or in connection with estate planning, or otherwise required by state or federal securities laws or any regulatory authority, are and shall forever remain confidential, and Insured agrees that he shall not reveal the terms and
conditions contained in this Agreement at any time to any person or entity, other than his financial and professional advisors unless required to do so by a court of competent jurisdiction. 

This Agreement shall be effective as of the date first set forth above. 

CALIFORNIA BANK OF COMMERCE 
  

									
	 /s/ Randy Greenfield
	  	         
	  	 Date:
	 	 1-29-19
	  	         

	 EVP/Chief Human Resources Officer
	  		  		 		  	
					
	 /s/ Steven E. Shelton
	  		  		 	 STEVEN E. SHELTON
	  	
	 Insured-   Signature and Date
	  		  		 	Print Name	  	

  
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