Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT AGREEMENT NO. 1 TO REGISTRATION RIGHTS AGREEMENT 

This Amendment Agreement No.1 to the Registration Rights Agreement (as defined below) (this “Amendment Agreement”) is entered
into as of February     , 2016, by and between Great Basin Scientific, Inc., a Delaware corporation (the “Company”), and the undersigned holder (the “Holder”) which is one of the investors listed
on the Schedule of Buyers (“Schedule of Buyers”) attached to that certain Securities Purchase Agreement between the Company and all of the investors listed on the Schedule of Buyers (the “Buyers”) dated
December 28, 2015 (the “SPA”) with reference to the following facts: 
 A. On December 28, 2015, the Company and
the Buyers (as defined in the Registration Rights Agreement) entered into the SPA in relation to the issuance and sale by the Company and purchase by the Holders of: (i) that aggregate principal amount of senior secured convertible notes of the
Company, in substantially the form attached to the SPA as Exhibit A (the “Notes”), set forth opposite such Buyer’s name in column (3) on the Schedule of Buyers (which aggregate principal amount of Notes for all
Buyers was $22,100,000) and (ii) related Series D Warrants, in substantially the form attached to the SPA as Exhibit B (the “Warrants”), representing the right to acquire that number of shares of common stock of the
Company, par value $0.0001 (“Common Stock”), set forth opposite such Buyer’s name in column (4) on the Schedule of Buyers (as exercised, collectively, the “Warrant Shares”), which totaled in the aggregate
3,503,116 Warrant Shares. 
 B. The issuance of the Notes and the Warrants occurred at a closing on December 30, 2015 (the
“Closing Date”). 
 C. In accordance with the terms of the SPA, the Company agreed to provide certain registration rights
under the United States Securities Act of 1933, as amended and the rules and regulations thereunder pursuant to the Registration Rights Agreement by and between the Company and each of the Buyers (the “Registration Rights
Agreement”) entered into December 30, 2015. 
 D. Section 1(z) of the Registration Rights Agreement defines
“Initial Filing Deadline” as “the date which is forty-five (45) calendar days after the Closing Date.” 

E. Section 1(x) of the Registration Rights Agreement defines “Initial Effectiveness Deadline” as “the date which is
the earlier of (x) (i) in the event that the Initial Registration Statement is not subject to a review by the SEC, seventy-five (75) calendar days after the Closing Date or (ii) in the event that the Initial Registration
Statement is subject to a review by the SEC, ninety (90) calendar days after the Closing Date and (y) the fifth (5th) Business Day after the date the Company is notified (orally or in writing, whichever is earlier) by the SEC that
such Initial Registration Statement will not be reviewed or will not be subject to further review; provided, however, that if the Initial Effectiveness Deadline falls on a Saturday, Sunday or other day that the SEC is closed for business, the
Initial Effectiveness Deadline shall be extended to the next Business Day on which the SEC is open for business.” 

 F. Section 1(cc) of the Registration Rights Agreement defines “Initial Required
Registration Amount” as “ 200% of the sum of (i) of the maximum number of Conversion Shares issued and issuable pursuant to the Notes assuming a Conversion Price equal to the lowest of the (x) the Conversion Price (as defined
in the Notes), (y) the Company Conversion Price and (z) the Company Pre-Installment Conversion Price (each, as defined in the Notes), in each case, in effect as of the Initial Filing Date or applicable Additional Filing Date, as
applicable, and (ii) the maximum number of Warrant Shares issued and issuable pursuant to the Warrants, each as of the Trading Day (as defined in the Notes) immediately preceding the applicable date of determination and all subject to
adjustment as provided in Section 2(f), without regard to any limitations on conversion, amortization and/or redemption of the Notes or exercise of the Warrants.” 

G. Section 1(g) of the Registration Rights Agreement defines “Additional Required Registration Amount” as “any
Cutback Shares not previously included on a Registration Statement, all subject to adjustment as provided in Section 2(f), without regard to any limitations on conversion, amortization and/or redemption of the Notes or exercise of the
Warrants.” 
 H. The Company’s authorized capital as set forth on its seventh amended and restated certificate of incorporation, as
amended (the “Certificate of Incorporation”), consists of, (i) 200,000,000 shares of common stock, par value $0.0001 per share and (ii) 5,000,000 shares of preferred stock, par value $0.001 per share. 

I. As of the date of this Amendment Agreement, the Initial Required Registration Amount would exceed the Company’s authorized capital as
set forth in the Certificate of Incorporation. 
 J. On January 28, 2016, the Company filed a preliminary proxy statement on Schedule
14A to, among other things, seek stockholder approval to approve an amendment to the Certificate of Incorporation to effect a reverse stock split of the Company’s issued and outstanding shares of Common Stock at a ratio between 1-to-20 and
1-to-35. 
 K. The Company desires to amend the definitions of “Initial Filing Deadline” and “Initial Effectiveness
Deadline” in the Registration Rights Agreement to such date as to permit the Company to, (i) complete a public offering of its shares of common stock and common stock purchase warrants pursuant to the terms set forth in the
Company’s Registration Statement on Form S-1 (333-201596), and file its Annual Report on Form 10-K for the year ended December 31, 2015 including, once prepared, the Company’s audited annual financial statements for that period. 

L. The Company desires to amend the definitions of “Initial Required Registration Amount” and “Additional Required
Registration Amount” in the Registration Rights Agreement to limit such number of shares the Company is required to register on the Initial Registration Statement (as defined in the Registration Rights Agreement) to a number not exceeding
the number of authorized shares of common stock set forth in the Company’s Certificate of Incorporation that are either reserved for 

  
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issuance pursuant to the Notes and Warrants or are unreserved shares of common stock until such date as the Company’s stockholders approve an amendment to the Certificate of Incorporation to
increase the Company’s authorized capital thereby making more authorized and unreserved shares of common stock available for registration. 

M. In compliance with Section 10 of the Registration Rights Agreement and in compliance with Section 9(e) of the SPA in regard to
Section 6(b) below for the waiver of an Event of Default (as defined in the Notes) under the Notes, this Amendment Agreement shall only be effective upon the execution and delivery of this Amendment Agreement and agreements in form and
substance identical to this Amendment Agreement (the “Other Amendment Agreements”) by other holders of Registrable Securities (as defined in the SPA) (each an “Other Holder”) representing on the Closing Date at
least fifty-one percent (51%) of the aggregate number of Registrable Securities issued or issuable under the Cash Notes and Cash Warrants issued on the Closing Date and shall include Hudson Bay so long as Hudson Bay and/or any of its affiliates
collectively hold at least five percent (5%) of the Registrable Securities, in the aggregate (the “Required Holders”) (such time, the “Effective Time”). 

NOW, THEREFORE, in consideration of the premises set forth above, and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Initial Filing Deadline. Section 1(z) of the
Registration Rights Agreement is amended such that “Initial Filing Deadline” is now defined as “February 29, 2016.” 

2. Initial Effectiveness Deadline. Section 1(x) of the Registration Rights Agreement is amended such that “Initial
Effectiveness Deadline” is now defined as “the date which is the earlier of (x) (i) in the event that the Initial Registration Statement is not subject to a review by the SEC, March 30, 2016 or (ii) in the event
that the Initial Registration Statement is subject to a review by the SEC, April 14, 2016 and (y) the fifth (5th) Business Day after the date the Company is notified (orally or in
writing, whichever is earlier) by the SEC that such Initial Registration Statement will not be reviewed or will not be subject to further review; provided, however, that if the Initial Effectiveness Deadline falls on a Saturday, Sunday or other day
that the SEC is closed for business, the Initial Effectiveness Deadline shall be extended to the next Business Day on which the SEC is open for business.” 

3. Initial Required Registration Amendment. Section 1(cc) of the Registration Rights Agreement is amended such that
“Initial Required Registration Amount” is now defined as “200% of the sum of (i) of the maximum number of Conversion Shares issued and issuable pursuant to the Notes assuming a Conversion Price equal to the lowest of the
(x) the Conversion Price (as defined in the Notes), (y) the Company Conversion Price and (z) the Company Pre-Installment Conversion Price (each, as defined in the Notes), in each case, in effect as of the Trading Day immediately
preceding the Initial Filing Date or the applicable Additional Filing Date, as applicable and (ii) the maximum number of Warrant Shares issued and issuable pursuant to the Warrants, each as of the Trading Day immediately preceding the Initial
Filing Date or the applicable Additional Filing Date, as applicable, and all subject to adjustment as provided in Section 2(f), without regard to any limitations on conversion, amortization and/or

  
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redemption of the Notes or exercise of the Warrants, provided however that, in the event the Initial Required Registration Amount calculated as of the Trading Day immediately preceding the
filing date of the Initial Registration Statement or any Additional Registration Statements exceeds the number of authorized shares of common stock as set forth in the Certificate of Incorporation that are either reserved for issuance pursuant to
the Notes and Warrants or are unreserved shares of common stock of the Company, on such date, the Initial Required Registration Amount shall be reduced, pursuant to the provisions of Section 2(c) of the Registration Rights Agreement, to a
number of shares of common stock that is at least 85,000,000 and, to the extent greater than 85,000,000, such number of shares of common stock that equals the maximum number of authorized shares of common stock as set forth in the Certificate of
Incorporation that are either reserved for issuance pursuant to the Notes and Warrants or are unreserved shares of common stock of the Company as of the Trading Day immediately preceding the filing date of the Initial Registration Statement or any
Additional Registration Statements, provided further that, from the date hereof through 11:59:59 pm New York time on March 31, 2016, notwithstanding anything to the contrary contained herein, the Initial Required Registration Amount
shall equal 85,000,000 shares of common stock. Any shares of common stock that would have been included in an Initial Registration Statement or any Additional Registration Statements as part of the Initial Required Registration Amount but for a
reduction in such number of shares of common stock pursuant to the provisions above regarding the Company’s authorized shares of common stock as set forth in the Certificate of Incorporation that are either reserved for issuance pursuant to the
Notes and the Warrants or are unreserved shares of common stock of the Company will be deemed to be Cutback Shares for determining any Additional Required Registration Amount.” 

4. Additional Required Registration Amount. Section 1(g) of the Registration Rights Agreement is amended such that
“Additional Required Registration Amount” is now defined as “Cutback Shares not previously included on a Registration Statement, all subject to adjustment as provided in Section 2(f), without regard to any limitations on
conversion, amortization and/or redemption of the Notes or exercise of the Warrants provided however that, in the event the Additional Required Registration Amount calculated as of the Trading Day immediately preceding the the filing date of
any Additional Registration Statements exceeds the number of authorized shares of common stock of the Company as set forth in the Certificate of Incorporation that are either reserved for issuance pursuant to the Notes and the Warrants or are
unreserved shares of common stock, on such date, the Additional Required Registration Amount shall be reduced, pursuant to the provisions of Section 2(c) of the Registration Rights Agreement, to a number of shares of common stock equal to the
number of authorized shares of common stock of the Company as set forth in the Certificate of Incorporation that are either reserved for issuance pursuant to the Notes and the Warrants or are unreserved shares of common stock as of the Trading Day
immediately preceding the filing date of any Additional Registration Statement, which number together with the number of shares registered for resale by the Initial Registration Statement that is declared effective by the SEC shall not be less than
85,000,000. 
 5. Covenant Regarding Reservation of Shares. Except for shares of common stock reserved for issuance pursuant to the
provisions of securities of the Company outstanding and as in effect on the date of this Amendment Agreement and shares of common stock to be issued and reserved for issuance pursuant to the terms of the securities to be offered and sold by

  
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the Company under its public offering under its Form S-1 Registration Statement (No. 333-207761) without giving effect to any subsequent amendment to the terms of such securities after the date
they are issued, the Company shall not reserve for issuance any shares of its common stock under its authorized capital unless (i) a number of shares of common stock equal to least 120,000,000 or such additional number of shares of Common Stock
as shall then be necessary to effect the conversion of all of the Notes and the exercise of all of the Warrants then outstanding (in each case, without regard to any limitations on conversions or exercises) have been reserved for the issuance of
common stock pursuant to the terms of the Notes and Warrants and (ii) all shares of common stock required to be registered on that date pursuant to the terms of the Registration Rights Agreement, as amended, without giving effect to any
cutbacks provided for in Section 1(cc) or Section 1(g) of the Registration Rights Agreement, as amended, related to a reduction due to insufficient authorized and unreserved shares of common stock have been either registered under an
effective Registration Statement or filed with the SEC under a Registration Statement within the timeframe required for such filing under the Registration Rights Agreement and the Company has no reason to believe such Registration Statement will not
be made effective by the applicable deadline set forth in the Registration Rights Agreement. The Company shall not issue securities pursuant to the public offering under the Company’s Registration Statement (No. 333-207761) to the extent that
the issuance of such securities (or the shares of common stock underlying such securities) would cause the number of shares of common stock reserved for issuance under the Notes and Warrants to be less than 85,000,000. 

6. Waiver. The Holder hereby waives, (a) with the intention that upon the satisfaction of the requirements of Section 10 of
the Registration Rights Agreement such waiver will be binding for all Other Holders, (i) any breach of the Registration Rights Agreement prior to the date hereof under Section 2(a) of the Registration Rights Agreement for the
Company’s failure to file the Initial Registration Statement (as defined in the Registration Rights Agreement) by the Initial Filing Deadline, prior to this Amendment Agreement and (ii) the Holder’s right to Registration Delay
Payments (as defined under the Registration Rights Agreement) prior to the date hereof for the Company’s failure to file the Initial Registration Statement (as defined in the Registration Rights Agreement) by the Initial Filing Deadline, prior
to this Amendment Agreement, and (b) with the intention that upon the satisfaction of the requirements of Section 19 of the Notes such waiver will be binding for all Other Holders, any Event of Default (as defined in the Notes) under
Section 4(a)(i) thereof for the Company’s failure to file the Initial Registration Statement (as defined in the Registration Rights Agreement) by the Initial Filing Deadline, prior to this Amendment Agreement. 

7. Acknowledgments. The Company hereby confirms and agrees that (i) except with respect to the amendments set forth in Sections 1,
2, 3 and 4 above as of the Effective Time, the Registration Rights Agreement shall continue to be, in full force and effect; (ii) the execution, delivery and effectiveness of this Amendment Agreement shall not operate as an amendment of any
right, power or remedy of the Holder except to the extent set forth herein. As of the Effective Time, the Registration Rights Agreement will be deemed to be fully amended and restated to reflect the amendments set forth in Sections 1, 2, 3 and 4
above. 
 8. Fees And Expenses. The Company shall reimburse the Holder for its legal fees and expenses in connection with the
preparation and negotiation of this Amendment Agreement and transactions contemplated thereby, by paying any such amount to Schulte Roth 

  
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& Zabel LLP (the “Holder Counsel Expense”) by wire transfer of immediately available funds in accordance with the written instructions of Schulte Roth & Zabel LLP
delivered to the Company. The Holder Counsel Expense shall be paid by the Company whether or not the transactions contemplated by this Agreement are consummated. Except as otherwise set forth above, each party to this Amendment Agreement shall bear
its own expenses in connection with the transactions contemplated hereby. 
 9. No Material, Nonpublic Information. The Company
hereby agrees and acknowledges that the transactions contemplated by this Amendment Agreement do not constitute material, nonpublic information of the Company or any of its Subsidiaries and that any and all confidentiality or similar obligations
under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents, on the one hand, and each Holder or any of its affiliates, on the other hand,
have terminated prior to the date hereof. The Company shall not, and shall cause each of its Subsidiaries and its and each of their respective officers, directors, affiliates, employees and agents, not to, provide any Holder with any material,
nonpublic information regarding the Company or any of its Subsidiaries from and after the date hereof without the express prior written consent of such Holder. To the extent that the Company, any of its Subsidiaries or any of their respective
officers, directors, affiliates employees or agents delivers any material, non-public information to any Holder without such Holder’s consent, the Company hereby covenants and agrees that such Holder shall not have any duty of confidentiality
to the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents with respect to, or a duty to the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates,
employees or agents not to trade on the basis of, such material, non-public information. The Company understands and confirms that the Holder will rely on the foregoing representations in effecting transactions in securities of the Company. 

10. Independent Nature of Holder Obligations and Rights. The obligations of the Holder under this Amendment Agreement are several and
not joint with the obligations of any Other Holder, and the Holder shall not be responsible in any way for the performance of the obligations of any Other Holder under any Other Amendment Agreement. Nothing contained herein or in any Other Amendment
Agreement, and no action taken by the Holder pursuant hereto, shall be deemed to constitute the Holder and Other Holders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Holder and Other
Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Amendment Agreement or any Other Amendment Agreement and the Company acknowledges that the Holders are not acting in
concert or as a group with respect to such obligations or the transactions contemplated by this Amendment Agreement or any Other Amendment Agreement. The Company and the Holder confirm that the Holder has independently participated in the
negotiation of the transactions contemplated hereby with the advice of its own counsel and advisors. The Holder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this
Amendment Agreement or, any Other Amendment Agreement, and it shall not be necessary for any Other Holder to be joined as an additional party in any proceeding for such purpose. 

  
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 11. No Third Party Beneficiaries. This Amendment Agreement is intended for the benefit of
the parties hereto and their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person. 

12. Counterparts. This Amendment Agreement may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument. In the event that any signature is delivered by facsimile transmission or
by an e-mail which contains a portable document format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same
force and effect as if such signature page were an original thereof. 
 13. No Strict Construction. The language used in this
Amendment Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. 

14. Headings. The headings of this Amendment Agreement are for convenience of reference and shall not form part of, or affect the
interpretation of, this Amendment Agreement. 
 15. Severability. If any provision of this Amendment Agreement is prohibited by law
or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent that it would be valid
and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity of the remaining provisions of this Amendment Agreement so long as this Amendment Agreement as so modified continues to express, without material
change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal
obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a
valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s). 
 16.
Amendments. No provision of this Amendment Agreement may be amended other than by an instrument in writing signed by the Company and the Required Holders. 

17. Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Amendment Agreement and the consummation of the
transactions contemplated hereby. 

  
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 18. Notice. Whenever notice is required to be given under this Amendment Agreement, unless
otherwise provided herein, such notice shall be given in accordance with Section 9(f) of the SPA. 
 19. Successors and Assigns.
This Amendment Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns. 
 20.
Capitalized Terms. Capitalized terms used herein and not otherwise defined herein shall have the respective meaning set forth in the Registration Rights Agreement. 

21. Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation of
this Amendment Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause
the application of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the
adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, 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 brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. 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 to such party at the address for such notices to it under this Amendment Agreement 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 manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND
AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AMENDMENT AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. 

[Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, each Undersigned and the Company have caused their respective
signature page to this Amendment Agreement to be duly executed as of the date first written above. 
  

			
	COMPANY:
	
	GREAT BASIN SCIENTIFIC, INC.
		
	By:	 	  

	Name:	 	Ryan Ashton
	Title:	 	President, CEO

 [Signature Page to Registration Rights Amendment Agreement] 

 IN WITNESS WHEREOF, each Undersigned and the Company have caused their respective
signature page to this Amendment Agreement to be duly executed as of the date first written above. 
  

			
	HOLDER:
		
	By:	 	  

	Name:	 	
	Title:	 	
		
		 	  

 [Signature Page to Registration Rights Amendment Agreement]Exhibit

Exhibit 10.15
Western Alliance Bancorporation

OBJECTIVE: Western Alliance Bancorporation (“WAL”) has established the 2005 Stock Incentive Plan (“SIP”), which is hereby incorporated by reference. To further the objectives of the SIP, WAL has established the WAL 2016 Annual Bonus Plan (“Bonus Plan”) under the SIP, effective January 1, 2016. The purpose of the Bonus Plan is to provide incentives and rewards for superior performance in order to attract and retain highly qualified team members and to maximize financial performance during the 2016 calendar year (“Plan Year”) so that Western Alliance Bancorporation (“WAL”) will meet and exceed its performance goals. 
ELIGIBILITY: Employees of Western Alliance Bank or another wholly-owned affiliate of WAL as of January 1st of the Plan Year are eligible for the Bonus Plan, unless the employee is eligible to participate in a special incentive plan, e.g., Alliance Association Bank, or a separate individual plan (“Participants”). Employees hired between January 1, 2016 and September 30, 2016 are eligible for a prorated award under the Bonus Plan. Employees hired after September 30th are not eligible for the Bonus Plan, but may become eligible for the following year’s annual bonus plan.  
EFFECTIVE DATE: January 1, 2016. This Bonus Plan supersedes all prior annual bonus plans adopted by WAL.
FREQUENCY OF AWARDS: Awards will be paid within 90 days after the end of the Plan Year. Participants must be employed at the end of the Plan Year to receive any compensation under this Bonus Plan.
PLAN ADMINISTRATOR: Pursuant to Section 3 of the SIP, the WAL Compensation Committee will approve, administer and implement the Bonus Plan. The day to day details of the Bonus Plan will be monitored by an internal committee made up of WAL Chief Executive Officer, Chief Financial Officer, and Chief Administrative Officer (“Bonus Plan Committee”).
HOW THE PLAN WORKS: Subject to the terms of the Bonus Plan, award calculations will be based on the following performance measures: 1) Earnings per Share, 2) Credit Quality, 3) Non-Interest Bearing Demand Deposit Growth, 4) Loan Growth, 5) Quality Control and 6) Fee Revenue (“Plan Performance Measures”). 
Each Plan Performance Measure will operate independently (i.e., it is possible for one Performance Measure to generate an award opportunity and not another); likewise, it is possible for one Performance Measure to be achieved at a higher level than another. Performance Measures are individually weighted (“Performance Measure Weights”) (i.e., certain Performance Measures are counted more heavily in calculating awards than others). The Bonus Plan Committee recommends the Plan Performance Measures and Performance Measure Weights at the beginning of the Plan Year for approval by the WAL Compensation Committee. The Compensation Committee retains absolute authority over the selection of and Performance Measures and Performance Measure Weights.
A target bonus percentage expressed as a percentage of base salary will be established for each Participant. A payout at the maximum level requires outstanding performance for the year in all components of the Bonus Plan. Base Salary is defined as the Participant’s actual salary earned for the year which includes pay for regular hours worked plus paid holiday, sick, and vacation hours; earnings received during a leave of absence are not included in this calculation.
		
	A.
	Earnings Per Share Performance is weighted 35% 

This portion of the award will be calculated based on WAL’s Earnings per Share performance during the Plan Year. The Earnings per Share calculation is determined pursuant to Generally Accepted Accounting Principles (“GAAP”). EPS will be adjusted for gain/loss on trust preferred valuation, merger charges, mandated legal/regulatory changes.
	
		
	WAL Performance Earnings Per Share Results
	Performance Measure Weight Paid (%)

	Less than < $2.20
	No Bonus paid

	Between $2.20 to $2.30
	75% to 100%

	Between $2.30 to $2.50
	100% to 150%

1

		
	B.
	Credit Quality is weighted 20%

This Credit Quality portion of the award will be calculated using the Net Charge Off ratio (10%) and the ratio of Classified Assets to Total Assets (10%).
		
	a.
	The Net Charge Off ratio equals Net Loan Charge Offs for the year divided by Average Loans Outstanding for the year.

	
		
	WAL Credit Quality Performance
	Performance Measure Weight Paid (%)

	Net Charge Off Ratio 
	 

	>.25% 
	No Bonus Paid

	<.25% to .20 %
	75% to 100%

	<.20% to .15%
	100% to 150%

		
	b.
	The ratio of Classified Assets to Total Assets will be measured [as of December 31, 2016].

	
		
	WAL Credit Quality Performance
	Performance Measure Weight Paid (%)

	Classified Assets to Total Assets Ratio 
	 

	>2.10% 
	No Bonus Paid

	<2.10%  to 1.70%
	75% to 100%

	<1.70%  to 1.30%
	100% to 150%

		
	C.
	Non-Interest Bearing Non-Credit Enhanced Demand Deposit Growth is weighted 15%

		
	1.
	This portion of the award will be calculated using the actual Non-Interest Bearing Non-Credit Enhanced Demand Deposit Growth results for Western Alliance Bank. Exclusions may be made to these calculations to account for windfalls.

		
	2.
	Following are the definitions/calculations on which this portion of the award will be based:

		
	a.
	A calculation will be made based on the year over year Western Alliance Bank growth in organic Non-Interest Bearing Non-Credit Enhanced Demand Deposit Accounts (15% of target).

		
	b.
	The calculation will exclude accounts with credit enhancements, such as letters of credit, collateralized deposits and reciprocal deposit arrangements. Growth will not include increases in non-interest bearing demand deposits acquired by acquisition.

		
	c.
	Calculation: The percent of Target award paid for year over year Non-Interest Bearing Non-Credit Enhanced Demand Deposit Growth will be calculated based on the following schedule:

	
		
	Non-Interest Bearing Non-Credit Enhanced Demand Deposit Growth
	Percent of Performance Measure Weight Paid

	Less than <$650MM growth
	No Bonus paid

	Between $650 - $900MM
	75% to 100%

	Between $900 - $1,250MM
	100% to 150%

		
	D.
	Loan Growth is weighted 10%

		
	1.
	This portion of the award will be calculated based on actual Loan Growth results for WAL. Exclusions may be made to these calculations to account for windfalls. 

		
	2.
	Following are the definitions/calculations on which this portion of the award will be based:

		
	a.
	A calculation will be made based on the year over year growth in Total Loans (10% of target). 

		
	b.
	Loan calculations will not include increases in loans acquired by acquisition.

2

		
	c.
	Calculation: The percent of Target award paid for year over year Loan Growth will be calculated based on the following schedule:

	
		
	Loan Growth
	Performance Measure Weight Paid (%)

	Less than <$650 MM
	No Bonus paid

	Between $650 - $900 MM
	75% to 100%

	Between $900 - $1,250 MM
	100% to 150%

		
	E.
	Quality Control is weighted 10%

		
	1.
	The effectiveness of the Company’s quality control will be evaluated based upon regulatory examinations and internal audits.  

		
	2.
	Effective internal audits will include preparedness, execution, and compliance with the regulatory framework for banks over $10 billion in assets, as well as meeting the bank’s CRA goals.

		
	3.
	The maximum pay out for the quality control portion of the award is 100%

		
	4.
	Quality Control performance will be measured and assessed by the WAL Audit Committee

		
	F.
	Organic Fee Revenue is weighted 10%

		
	1.
	This portion of the award will be calculated using the actual Fee Revenue results for Western Alliance Bank. 

		
	2.
	Following are the definitions/calculations on which this portion of the award will be based:

		
	a.
	A calculation will be made for Western Alliance Bank Non-Interest Fee Income and will exclude the following revenue: BOLI, rental income, lease income and appraisal income. 

		
	b.
	Calculation: The percent of Target bonus paid for Fee Revenue will be calculated based on the following schedule:

	
		
	Fee Revenue
	Performance Measure Weight Paid (%)

	Less than <$31.5MM
	No Bonus paid

	Between $31.5 - $33.0 MM
	75% to 100%

	Between $33.0 - $34.5 million
	100% to 150%

		
	G.
	Other Calculation Provisions

		
	1.
	Members of the WAL Executive Management Committee, Divisional Presidents and all Participants below the level of Vice President will be paid out according to the bonus formula without respect to individual assessments. Participants with a corporate title of Vice President, Senior Vice President and Executive Vice President will be evaluated at the end of the Plan Year. Such Participants’ final awards will range from 75% to 120% of each Participant’s target payout based on participant’s contribution to overall performance. 

		
	2.
	Each Participant must meet individual loan and deposit production goals, if applicable, or their award may be reduced or eliminated. 

		
	3.
	A Participant’s bonus may be reduced or eliminated if, in the discretion of the Bonus Plan Committee: i) their department’s loan review and/or audits are rated below satisfactory and/or not adhering to safety, soundness, and approved operational procedures; ii) any Participant, their branch or department earns a rating of less than “Satisfactory,”; iii) their department’s credit underwriting and/or portfolio management practices are rated below “Satisfactory” and/or not adhering to safety and soundness; or iv) the Participant, their branch or department has not contributed adequately to the financial results attributed to them.

		
	H.
	Other Administrative Provisions

		
	1.
	This is a discretionary bonus plan and, in order to receive payment of any award under this Plan, the Participant must be eligible and employed by Western Alliance Bank or another wholly-owned affiliate of WAL at the end of the Plan Year.

3

		
	2.
	Designation as a Participant in the Bonus Plan does not create a contract of employment for any specified time, nor does it alter or amend an “at-will” policy of employment. 

		
	3.
	If any Participant’s performance is rated as falling below job expectations or as less than satisfactory at any time during the Plan Year, or if the participant is subject to any written disciplinary action, the award will be reduced or eliminated.

		
	4.
	If any Participant whose job duties include development of new loans and deposits does not meet or exceed that Participant’s production goals, the award may be significantly reduced.

		
	5.
	A change in officer title during the Plan Year will result in a prorated change in target bonus percentage based upon the number of months in each position.

		
	6.
	Awards will be paid through the normal payroll process to Participants. All awards will be subject to applicable taxes. Awards do not constitute commissions or additional wages, and participants have no vested interests in the benefits of the Bonus Plan, except as expressly provided for herein. No right or interest of any participant in the Bonus Plan is assignable or transferable.

		
	7.
	Awards under this Bonus Plan will be used in calculating covered earnings for benefit purposes for the 401(k) and Life Insurance Plans but not for Long Term Disability Insurance.

		
	8.
	Timely and accurate completion of all reports, budgets and other planning exercises is required for payment under the Bonus Plan. 

		
	9.
	Acknowledgment from the HR Department that departments and officers have conformed to bank policy in timeliness of annual reviews, controllable turnover, and all other areas of HR administration is required for payment under this Bonus Plan.

		
	10.
	Performance measurements and statistics will be based on calculations completed by the Finance Division of Western Alliance Bank. Any questions about the results or the bonus calculations must be submitted to the Plan Administrator within 30 days after the calculations have been completed and published, after which time no inquiries will be considered. 

		
	11.
	Performance Measures, Performance Measure Weights and award opportunities may be adjusted during the performance period only upon approval by the Plan Administrator as it deems appropriate. It is anticipated that such adjustments will be made infrequently and only in extraordinary circumstances. Notwithstanding the foregoing, no adjustment will be made to any award intended to qualify as “performance-based compensation” for purposes of Code Section 162(m) (as defined below) to the extent the adjustment would cause the award to fail to so qualify.

		
	12.
	This Bonus Plan is governed and interpreted by the Plan Administrator, whose decisions shall be final. WAL reserves the right to change, amend, modify, suspend, continue or terminate all or any part of the Plan either in an individual case or in general, at any time without notice and without consent of any Participant.

		
	13.
	Participants in special incentive plans (which may be paid out quarterly) may not be eligible to participate in the Bonus Plan, and the Bonus Plan Committee has the discretion to determine eligibility for the Bonus Plan. 

		
	14.
	The intent of the Bonus Plan is to fairly reward employees for adding value to WAL. Subject to the Code Section 162(m) provisions below, if adjustments need to be made to allow the Bonus Plan to accomplish its purpose, the Plan Administrator in its sole discretion can make those adjustments.

		
	15.
	Notwithstanding anything to the contrary in this Plan, it is the intention of the Plan Administrator that any award granted to a participant who is a “covered employee” (each a “Covered Employee”) as defined in Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), should qualify as “performance-based compensation” for purposes of Code Section 162(m), all determinations relating to such awards will be made by the WAL Compensation Committee, which is comprised solely of “outside directors” (within the meaning of Code Section 162(m)), and the following provisions will apply to such awards:

		
	a.
	The WAL Compensation Committee will determine the amount of an award opportunity to be granted to each participant who is a Covered Employee. 

4

		
	b.
	Subject to subsection (e) below, the amount of a Covered Employee’s award will be an amount determinable from written performance targets approved by the WAL Compensation Committee while the outcome is substantially uncertain and no more than 90 days after the commencement of the performance period to which the performance target relates. The WAL Compensation Committee will have the authority to determine in its sole discretion the applicable performance period relating to any such award.

		
	c.
	The maximum aggregate limit on awards that may be awarded under this plan to any Covered Employee with respect to any calendar year is $5 million.

		
	d.
	The amount of any award will be based on objective Performance Measures and a Performance Target with respect to each Performance Measure as specified by the WAL Compensation Committee. When establishing performance targets that are intended to qualify as “performance-based compensation” for purposes of Code Section 162(m), the WAL Compensation Committee may exclude any or all “extraordinary items” as determined under GAAP including, without limitation, the charges or costs associated with restructurings of the Company, discontinued operations, other unusual or non-recurring items, and the cumulative effects of accounting changes, only to the extent permitted under Code Section 162(m).

		
	e.
	The WAL Compensation Committee will determine in writing with respect to any Covered Employee whether the performance target has been met with respect to any affected Covered Employee and, if that is the case, so certify and ascertain the amount of the applicable award. No awards will be paid to any Covered Employee until such certification is made by the WAL Compensation Committee.

		
	f.
	The Plan will be administered and interpreted in accordance with Code Section 162(m) to ensure the deductibility by the Company or its affiliates of the payment of such awards.

		
	16.
	To the extent not preempted by federal law, the Bonus Plan shall be construed in accordance with and governed by the State of Arizona, determined without regard to its conflict of law principles. If any provision of this Bonus Plan shall be held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to be full effective. The jurisdiction and venue for any disputes arising under, or any action brought to enforce (or otherwise relating to) this Bonus Plan shall be exclusively in the courts of the State of Arizona, County of Maricopa, including the Federal Courts located there (should Federal jurisdiction exist).

5

Sample Calculation: 
		
	1.
	Earnings Per Share Performance is weighted 35%

	
		
	EPS achieved 
	$2.30

	% of EPS Target Paid
	100%

		
	2.
	Credit Quality Performance is weighted 20%

	
		
	Net Charge Off Ratio
	  .20%

	Classified Assets to Total Assets
	1.70%

	% of Credit Quality Target Paid
	100%

		
	3.
	Non-Interest Bearing Non-Credit Enhanced Demand Deposit Growth is weighted 15%

	
		
	Non-Interest Demand Deposit Growth Achieved
	$1,250MM

	% of Loan  Non-Interest Bearing Demand Deposit Growth Target Paid
	150%

		
	4.
	Loan Growth Performance is weighted 10%

	
		
	Loan Growth Achieved
	$1,250MM

	% of Loan Growth Target Paid
	150%

		
	5.
	Quality Control factors are weighted 10%

Passed at the 100% level for example purposes

		
	6.
	Fee Revenue is weighted 10%

	
		
	Fee Revenue Achieved
	$33.0MM

	% of Fee Revenue Target Paid
	100%

Example Paid under WAL Annual Bonus

	
						
	Participant has a base salary of $60,000
Target Bonus of 8% 
Target Bonus - $4,800.00 

	EPS
	Credit Quality
	Non-Interest DDA Growth
	Loan        Growth
	Quality Control
	Fee Revenue

	$4,800
	$4,800
	$4,800
	$4,800
	$4,800
	$4,800

	X 40%
	X 10%
	X 20%
	X 10%
	X 10%
	X 10%

	$1,920
	$480
	$960
	$480
	$480
	$480

	   X 100%
	X 100%
	X150%
	X150%
	X100%
	X100%

	$1,920
	$480
	$1,440
	$720
	$480
	480

Total Payout is $1,920 + $480 + $1,440 + $720 + $480 + 480= $5,520

6

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