Document:

<PAGE>

                                                                    EXHIBIT 10.8

                                  MISSION BANK
                             1998 STOCK OPTION PLAN

1.       PURPOSE

         The purpose of the Mission Bank 1998 Stock Option Plan (the "Plan") is
to strengthen Mission Bank (the "Bank") and those corporations which are or
hereafter become subsidiary corporations [as that term is defined in Section
424(f) of the Internal Revenue Code of 1986, as amended from time to time (the
"Code")] of the Bank by providing an additional means of attracting and
retaining competent officers, including officers that are directors and key
employees and by providing to such persons added incentive for high levels of
performance. The Plan seeks to accomplish these purposes and achieve these
results by providing a means whereby such persons may purchase shares of the
common stock of the Bank pursuant to options granted in accordance with the
Plan.

         Options granted pursuant to the Plan are intended to be either
"incentive stock options" within the meaning of Section 422 of the Code, or
"nonqualified stock options", as shall be determined and designated upon the
grant of each option hereunder.

2.       ADMINISTRATION

         The Plan shall be administered by the Board of Directors (the "Board").
Any action of the Board with respect to the administration of the Plan shall be
taken pursuant to a majority vote, or the unanimous written consent, of its
members. Subject to the express provisions of the Plan, the Board shall have the
authority to construe and interpret the Plan, define the terms used therein,
prescribe, amend and rescind, the rules and regulations relating to
administration of the Plan, and make all other determinations necessary

                                       1
<PAGE>

or advisable for administration of the Plan.

         All decisions, determinations, interpretations or other actions by the
Board shall be final, conclusive and binding on all persons, optionees,
grantees, subsidiary corporations of the Bank and any successors-in-interest to
such parties.

3.       INCENTIVE STOCK OPTIONS

         All options granted which are designated at the time of grant as an
"incentive stock option" shall be deemed an incentive stock option.

         (a) Incentive stock options granted under the Plan are intended to be
qualified under Section 422 of the Code.

         (b) Officers and key employees of the Bank or a subsidiary corporation
shall be eligible for selection to participate in the incentive stock option
portion of the Plan. No director of the Bank who is not also an officer or
employee of the Bank or a subsidiary corporation, may be granted an incentive
stock option hereunder. Subject to the express provisions of the Plan, the Board
shall (i) select from the eligible class of employees to whom incentive stock
options shall be granted and make appropriate grants of incentive stock options
to those selected, (ii) determine the discretionary terms and provisions of the
respective incentive stock option agreements (which need not be identical),
(iii) determine the times at which such incentive stock options shall be
granted, and (iv) determine the number of shares subject to each incentive stock
option. An individual who has been granted an incentive stock option may, if he
or she is otherwise eligible under the Plan, be granted additional incentive
stock options if the Board shall so determine.

                                       2
<PAGE>

         (c) Except as described in subsection (e) below, the Board shall not
grant an incentive stock option to purchase shares of the Bank's common stock to
any individual who, at the time of the grant, owns stock possessing more than
10% of the total combined voting power or value of all classes of stock of the
Bank or a subsidiary corporation. The attribution rules of Section 424(d) of the
Code shall apply in the determination of ownership of stock for these purposes.

         (d) The aggregate fair market value (determined as of the time the
incentive stock option is granted) of stock with respect to which incentive
stock options are exercisable for the first time by an individual during any
calendar year (under all plans of the Bank and its subsidiary corporations, if
any) shall not exceed $100,000, plus any greater amount as may be permitted
under subsequent amendments to the Code.

         (e) The purchase price of stock subject to each incentive stock option
shall be determined by the Board, but shall not be less than one hundred percent
(100%) of the fair market value of such stock at the time such option is
granted, except, in the case of optionees who at the time of the grant own more
than ten percent (10%) of the total combined voting power of all classes of
stock of the Bank or a subsidiary corporation, in which case the purchase price
of the stock shall not be less than one hundred ten percent (110%) of the fair
market value of such stock at the time such option is granted and the term of
such option shall be for no more than five (5) years. The fair market value of
such stock shall be determined in accordance with any reasonable valuation
method, including the valuation methods described in Treasury Regulation Section
20.2031-2.

4.       NONQUALIFIED STOCK OPTIONS

                                       3
<PAGE>

         (a) All options granted which are (i) in excess of the aggregate fair
market value limitations set forth in Section 3(d) hereof, (ii) designated at
the time of the grant as "nonqualified", or (iii) intended to be incentive stock
options but do not meet the requirements of incentive stock options, shall be
deemed nonqualified stock options. Nonqualified stock options granted hereunder
shall be so designated in the nonqualified stock option agreement entered into
between the Bank and the optionee.

         (b) Directors who are officers, officers and key employees of the Bank
or a subsidiary corporation shall be eligible for selection to participate in
the nonqualified stock option portion of the Plan. Subject to the express
provisions of the Plan, the Board shall (i) select from the eligible class of
individuals to whom nonqualified stock options shall be granted and make
appropriate grants of nonqualified stock options to those selected, (ii)
determine the discretionary terms and provisions of the respective nonqualified
stock option agreements (which need not be identical), (iii) determine the times
at which such nonqualified stock options shall be granted, and (iv) determine
the number of shares subject to each nonqualified stock option. An individual
who has been granted a nonqualified stock option may, if he or she is otherwise
eligible under the Plan, be granted additional nonqualified stock options if the
Board shall so determine.

         (c) The purchase price of stock subject to each nonqualified stock
option shall be determined by the Board, but shall not be less than one hundred
percent (100%) of the fair market value of such stock at the time such option is
granted. The fair market value of such stock shall be determined in accordance
with any reasonable valuation method, including the valuation methods described
in Treasury Regulation 20.2031-2.

5.       STOCK SUBJECT TO THE PLAN

                                       4
<PAGE>

         Subject to adjustments as provided in Section 12, hereof, the stock to
be offered under the Plan shall be shares of the Bank's authorized but unissued
common stock (hereinafter called "stock") and the aggregate amount of stock to
be delivered upon exercise of all options granted under the Plan shall not
exceed 150,000 shares. If any option shall be canceled, surrendered or expire
for any reason without having been exercised in full, the underlying shares
subject thereto shall again be available for purposes of the Plan.

6.       CONTINUATION OF EMPLOYMENT

         Nothing contained in the Plan (or in any option agreement) shall
obligate the Bank or a subsidiary corporation to employ any optionee for any
period or interfere in any way with the right of the Bank or a subsidiary
corporation to reduce the optionee's compensation. However, the Bank may not
reduce the terms of any option without the approval of the optionee.

7.       EXERCISE OF OPTIONS

         No option shall be exercisable until all necessary regulatory and
shareholder approvals of the Plan are obtained. Except as otherwise provided in
this section, each option shall be exercisable in such installments, which need
not be equal, and upon such contingencies as the Board, shall determine;
provided, however, that if an optionee shall not in any given installment period
purchase all of the shares which the optionee is entitled to purchase in such
installment period, the optionee's right to purchase any shares not purchased in
such installment period shall continue until expiration or termination of such
option. Notwithstanding the foregoing, the options shall vest at the rate of at
least 20% per year over a five year

                                       5
<PAGE>

period from the date the option is granted.

         Fractional share interests shall be disregarded, except that they may
be accumulated. Not less than one (1) share may be purchased at any one time.
Options may be exercised by written notice delivered to the Bank stating the
number of shares with respect to which the option is being exercised, together
with the full purchase price for such shares. Payment of the option price in
full, for the number of shares to be delivered, must be made in cash or by
cashier's check. If the option is being exercised by any person other than the
optionee, said notice shall be accompanied by proof, satisfactory to counsel for
the Bank, of the right of such person to exercise the option. Optionees will
have no rights as shareholders with respect to stock of the Bank subject to
their stock option agreements until the date of issuance of the stock
certificate to them.

8.       NONTRANSFERABILITY OF OPTIONS

         Each option shall, by its terms, be nontransferable by the optionee
other than by will or the applicable laws of descent and distribution, and shall
be exercisable during his or her lifetime only by the optionee.

9.       CESSATION OF EMPLOYMENT

         Except as provided in Sections 10 and 20 hereof, if an optionee ceases
to be an employee of the Bank or a subsidiary corporation for any reason other
than his or her disability (as defined in Section 22(e)(3) of the Code) or
death, the optionee's option shall expire three (3) months after the date of
termination of such employment. During the period after cessation of employment,
such option shall be

                                       6
<PAGE>

exercisable only as to those installments, if any, which have accrued and/or
vested as of the date on which the optionee ceased to be an employee of the Bank
or a subsidiary corporation.

10.      TERMINATION OF EMPLOYMENT FOR CAUSE

         If the stock option agreement so provides and if an optionee's
employment by the Bank or a subsidiary corporation is terminated for cause, the
optionee's option shall expire immediately; provided, however, the Board may, in
its sole discretion, within thirty (30) days of such termination, reinstate the
option by giving written notice of such reinstatement to the optionee at the
optionee's last known address. In the event of reinstatement, the optionee may
exercise the option only to such extent, for such time, and upon such terms and
conditions as if he or she had ceased to be employed by the Bank or a subsidiary
corporation upon the date of such termination for a reason other than cause,
disability or death. Termination for cause shall include, but not be limited to,
termination for malfeasance or gross misfeasance in the performance of duties or
conviction of a crime involving moral turpitude, and, in any event, the
determination of the Board with respect thereto shall be final and conclusive.

11.      DISABILITY OR DEATH OF OPTIONEE

         If any optionee dies while serving as an employee of the Bank or a
subsidiary corporation, the option shall expire one (1) year after the date of
such death, except as provided in Section 20 hereof. After such death but before
such expiration, the persons to whom the optionee's rights under the option
shall have passed by will or the applicable laws of descent and distribution or
the executor or administrator of optionee's estate shall have the right to
exercise such option to the extent that installments, if any, had

                                       7
<PAGE>

accrued and/or vested as of the date on which the optionee ceased to be an
employee of the Bank or a subsidiary corporation.

         If the optionee shall terminate his or her employment because of
disability (as defined in Section 22(e)(3) of the Code), the optionee may
exercise this option to the extent he or she is entitled to do so at the date of
termination, at any time within one (1) year of the date of termination, except
as provided in Section 20 hereof.

         If any optionee dies during the three (3) month period referred to in
Section 9 hereof, the option shall expire one (1) year after the date of such
death, except as provided in Section 20 hereof.

12.      ADJUSTMENT UPON CHANGES IN CAPITALIZATION

         If the outstanding shares of the stock of the Bank are increased,
decreased, changed into or exchanged for a different number or kind of shares or
securities of the Bank through reorganization, merger, recapitalization,
reclassification, stock split, stock dividend, stock consolidation or otherwise,
without consideration to the Bank, an appropriate and proportionate adjustment
shall be made in the number and kind of shares as to which options may be
granted. A corresponding adjustment changing the number or kind of shares and
the exercise price per share allocated to unexercised options or portions
thereof, which shall have been granted prior to any such change shall likewise
be made. Any such adjustment, however, in an outstanding option shall be made
without change in the total price applicable to the unexercised portion of the
option, but with a corresponding adjustment in the price for each share subject
to the option. Any adjustment under this Section 12 shall be made by the Board,
whose determination as to what adjustments shall be made, and the extent
thereof, shall be final and conclusive. No fractional shares of

                                       8
<PAGE>

stock shall be issued or made available under the Plan on account of any such
adjustment, and fractional share-interests shall be disregarded, except that
they may be accumulated.

13.      TERMINATING EVENTS

         A Terminating Event shall be defined as any one of the following
events: (i) a dissolution or liquidation of the Bank; (ii) a reorganization,
merger or consolidation of the Bank with one or more corporations, the result of
which (A) the Bank is not the surviving corporation, or (B) the Bank becomes a
subsidiary of another corporation (which shall be deemed to have occurred if
another corporation shall own directly or indirectly, over 80% of the aggregate
voting power of all outstanding equity securities of the Bank); (iii) a sale of
substantially all the assets of the Bank to another corporation; or (iv) a sale
of the equity securities of the Bank representing more than 80% of the aggregate
voting power of all outstanding equity securities of the Bank to any person or
entity, or any group of persons and/or entities acting in concert. When the Bank
knows that a Terminating Event will occur (i) the Bank shall deliver to each
optionee no less than thirty (30) days prior to the Terminating Event, written
notification of the Terminating Event and the optionee's right to exercise all
options granted pursuant to the Plan, whether or not vested under the Plan or
applicable stock option agreement, and (ii) all outstanding options granted
pursuant to the Plan shall completely vest and become immediately exercisable as
to all shares granted pursuant to the option immediately prior to such
Terminating Event. This right of exercise shall be conditional upon execution of
a final plan of dissolution or liquidation or a definitive agreement of
consolidation or merger. Upon the occurrence of the Terminating Event all
outstanding options and the Plan shall terminate; provided, however, that any
outstanding options not exercised as of the occurrence of the Terminating

                                       9
<PAGE>

Event shall not terminate if there is a successor corporation which assumes the
outstanding options or substitutes for such options, new options covering the
stock of the successor corporation with appropriate adjustments as to the number
and kind of shares and prices.

14.      AMENDMENT AND TERMINATION

         The Board may at any time suspend, amend or terminate the Plan and may,
with the consent of the optionee, make such modification of the terms and
conditions of the option as it shall deem advisable; provided that, except as
permitted under the provisions of Sections 12 and 13 hereof, no amendment or
modification which would:

         (a)      increase the maximum number of shares which may be purchased
                  pursuant to options granted under the Plan either in the
                  aggregate or by an individual;

         (b)      change the minimum option price;

         (c)      increase the maximum term of options provided for herein; or

         (d)      permit options to be granted to anyone other than officers,
                  including officers who are directors or key employees of the
                  Bank or a subsidiary corporation;

may be adopted without the Bank having first obtained any necessary regulatory
and shareholder approvals required by law.

         No option may be granted during any suspension or after termination of
the Plan. Amendment, suspension or termination of the Plan shall not (except as
otherwise provided in Section 12 hereof), without the consent of the optionee,
alter or impair any rights or obligations under any option theretofore granted.

15.      TIME OF GRANTING OPTIONS

                                       10
<PAGE>

         The time an option is granted, sometimes referred to as the date of
grant, shall be the day of the action of the Board described in Sections 3(b)
and 4(b) hereof; provided, however, that if appropriate resolutions of the Board
indicate that an option is granted as of and on some future date, the time such
option is granted shall be such future date. If action by the Board is taken by
unanimous written consent of its members, the action of the Board shall be
deemed to be at the time the last Board member signs the consent.

16.      PRIVILEGES OF STOCK OWNERSHIP; SECURITIES LAW COMPLIANCE;
         NOTICE OF SALE

         No optionee shall be entitled to the privileges of stock ownership as
to any shares of stock not actually issued. No shares shall be purchased upon
the exercise of any option unless and until the Bank has fully complied with all
applicable requirements of any regulatory agency having jurisdiction over the
Bank, and all applicable requirements of any exchange upon which stock of the
Bank may be listed. The optionee shall give the Bank notice of any sale or
disposition of any such shares not more than five (5) days after such sale or
disposition.

17.      EFFECTIVE DATE OF THE PLAN

         The Plan shall be deemed adopted by the Board as of October 8, 1998 and
shall be effective immediately subject to approval by the shareholders of the
Bank within twelve months of the date the Plan is adopted, by the vote of a
majority of the outstanding shares represented and voting at a meeting of
shareholders at which a quorum is present, or by the written consent vote of the
holders of a majority of the outstanding shares of the Bank's stock.

                                       11
<PAGE>

18.      TERMINATION

         Unless previously terminated by the Board, the Plan shall terminate at
the close of business on October 8 , 2008. No options shall be granted under the
Plan thereafter, but such termination shall not affect any option theretofore
granted.

19.      OPTION AGREEMENT

         Each option shall be evidenced by a written stock option agreement
executed by the Bank and the optionee and shall contain each of the provisions
and agreements herein specifically required to be contained therein, and such
other terms and conditions as are deemed desirable and are not inconsistent with
the Plan. Each incentive stock option agreement shall contain such terms and
provisions as the Board may determine to be necessary in order to qualify such
option as an incentive stock option within the meaning of Section 422 of the
Code.

20.      OPTION PERIOD

         Each option and all rights and obligations thereunder shall expire on
such date as the Board may determine, but not later than ten (10) years from the
date such option is granted, and shall be subject to earlier termination as
provided elsewhere in the Plan.

21.      EXCULPATION AND INDEMNIFICATION

         To the extent permitted by applicable law in effect from time to time,
no member of the Board shall be liable for any act or omission of any other
member of the Board nor for any act or omission on the

                                       12
<PAGE>

member's own part, except the member's own willful misconduct or gross
negligence. The Bank and its subsidiary corporations shall pay expenses incurred
by, and satisfy a judgment or fine rendered or levied against, a present or
former member of the Board in any action brought by a third party against such
person (whether or not the Bank is joined as a party defendant) to impose a
liability or penalty on such person while a member of the Board arising with
respect to the Plan or administration thereof or out of membership on the Board
, or all or any combination of the preceding; provided, the Board determines in
good faith that such member of the Board was acting in good faith, within what
such member of the Board reasonably believed to be the scope of his or her
employment or authority, and for a purpose which he or she reasonably believed
to be in the best interests of the Bank or its shareholders. Payments authorized
hereunder include amounts paid and expenses incurred in settling any such action
or threatened action. This Section 21 does not apply to any action instituted or
maintained in the right of the Bank by a shareholder or holder of a voting trust
certificate representing shares of the Bank or a subsidiary corporation thereof.
The provisions of this Section 21 shall apply to the estate, executor,
administrator, heirs, legatees or devisees of a member of the Board, and the
term "person" as used in this Section 21 shall include the estate, executor,
administrator, heirs, legatees or devisees of such person.

                       SECRETARY'S CERTIFICATE OF ADOPTION

I, the undersigned, do hereby certify:

                                       13
<PAGE>

1.       That I am the duly elected and acting Secretary of Mission Bank (the
         "Bank"); and

2.       That the foregoing Mission Bank 1998 Stock Option Plan was duly adopted
         by the Board of Directors at a meeting duly called as required by law
         and convened on the 8th day of October, 1998.

IN WITNESS WHEREOF, I have hereunto, subscribed my name and affixed the seal of
the Bank this 3th day of November, 1998.

                                            /s/ Lois B. Beres
                                            -------------------------------
                                            Lois B. Beres, Secretary

(Seal)

                                       14
<PAGE>

NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, NO SHARES OF MISSION
BANK'S STOCK SHALL BE ISSUED PURSUANT HERETO UNLESS THE MISSION BANK 1998 STOCK
OPTION PLAN SHALL HAVE FIRST BEEN APPROVED BY THE SHAREHOLDERS OF MISSION BANK.

                                  MISSION BANK

                        INCENTIVE STOCK OPTION AGREEMENT

         This Incentive Stock Option Agreement (the "Agreement") is made and
entered into as of the ___ day of _________, ____, by and between Mission Bank,
a California corporation (the "Bank"), and ____________________________
("Optionee");

         WHEREAS, pursuant to the Mission Bank 1998 Stock Option Plan (the
"Plan"), a copy of which is attached hereto, the Board of Directors of the Bank
has authorized granting to Optionee, an incentive stock option to purchase all
or any part of ________________ (___________) authorized but unissued shares of
the Bank's common stock for cash at the price of ______________ Dollars and
___________ Cents ($__.__) per share, such option to be for the term and upon
the terms and conditions hereinafter stated;

         NOW, THEREFORE, it is hereby agreed:

         1. GRANT OF OPTION. Pursuant to said action of the Board of Directors
and pursuant to authorizations granted by all appropriate regulatory and
governmental agencies, the Bank hereby grants to Optionee the option to
purchase, upon and subject to the terms and conditions of the Plan, which is
incorporated in full herein by this reference, all or any part of
_______________ (______) shares of the Bank's common stock (hereinafter called
"stock") at the price of ________________ Dollars and ___________ Cents ($__.__)
per share, which price is not less than one hundred percent (100%) of the

                                       15
<PAGE>

fair market value of the stock (or not less than 110% of the fair market value
for Optionee-shareholders who own more than ten percent (10%) of the total
combined voting power of all classes of stock of the Bank) as of the date of
action of the Board of Directors, granting this option.

         2.       EXERCISABILITY.  This option shall be exercisable as
to______________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

_______________________________________. This option shall remain exercisable as
to all of such shares until _______________ __, ____, (but not later than ten
(10) years from the date this option is granted) unless this option has expired
or terminated earlier in accordance with the provisions hereof. Shares as to
which this option becomes exercisable pursuant to the foregoing provision may be
purchased at any time prior to expiration of this option.

         3. EXERCISE OF OPTION. This option may be exercised by written notice
delivered to the Bank stating the number of shares with respect to which this
option is being exercised, together with cash in the amount of the purchase
price of such shares. Not less than one (1) share may be purchased at any one
time, and in no event may the option be exercised with respect to fractional
shares. Upon exercise, Optionee shall make appropriate arrangements and shall be
responsible for the withholding of any federal and state taxes then due.

         4. CESSATION OF EMPLOYMENT. Except as provided in Paragraphs 2 and 5
hereof, if Optionee shall cease to be an employee of the Bank or a subsidiary
corporation for any reason other than Optionee's death or disability [as defined
in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended from time
to time (the "Code")], this option shall expire three (3) months thereafter.
During the

                                       16
<PAGE>

three (3) month period this option shall be exercisable only as to those
installments, if any, which had accrued as of the date when the Optionee ceased
to be an employee of the Bank or a subsidiary corporation.

         5. TERMINATION OF EMPLOYMENT FOR CAUSE. If Optionee's employment with
the Bank or a subsidiary corporation is terminated for cause, this option shall
expire immediately, unless reinstated by the Board of Directors within thirty
days (30) days of such termination by giving written notice of such
reinstatement to Optionee at his or her last known address. In the event of such
reinstatement, Optionee may exercise this option only to such extent, for such
time, and upon such terms and conditions as if Optionee had ceased to be an
employee of the Bank or a subsidiary corporation upon the date of such
termination for a reason other than cause, death or disability. Termination for
cause shall include, but not be limited to, termination for malfeasance or gross
misfeasance in the performance of duties or conviction of a crime involving
moral turpitude, and, in any event, the determination of the Board of Directors
with respect thereto shall be final and conclusive.

         6. NONTRANSFERABILITY; DEATH OR DISABILITY OF OPTIONEE. This option
shall not be transferable except by will or by the applicable laws of descent
and distribution and shall be exercisable during Optionee's lifetime only by
Optionee. If Optionee dies while serving as an employee of the Bank or a
subsidiary corporation, or during the three (3) month period referred to in
Paragraph 4 hereof, this option shall expire one (1) year after the date of
Optionee's death or on the day specified in Paragraph 2 hereof, whichever is
earlier. After Optionee's death but before such expiration, the persons to whom
Optionee's rights under this option shall have passed by will or by the
applicable laws of descent and distribution or the executor or administrator of
Optionee's estate shall have the right to exercise this option

                                       17
<PAGE>

as to those shares for which installments had accrued under Paragraph 2 hereof
as of the date on which Optionee ceased to be an employee of the Bank or a
subsidiary corporation.

         If Optionee terminates his or her employment because of disability,
Optionee may exercise this option to the extent he or she is entitled to do so
at the date of termination, at any time within one (1) year of the date of
termination, or before the expiration date specified in Paragraph 2 hereof,
whichever is earlier.

         7. EMPLOYMENT. This Agreement shall not obligate the Bank or a
subsidiary corporation to employ Optionee for any period, nor shall it interfere
in any way with the right of the Bank or a subsidiary corporation to reduce
Optionee's compensation.

         8. PRIVILEGES OF STOCK OWNERSHIP. Optionee shall have no rights as a
shareholder with respect to the Bank's stock subject to this option until the
date of issuance of stock certificates to Optionee. Except as provided in the
Plan, no adjustment will be made for dividends or other rights for which the
record date is prior to the date such stock certificates are issued.

         9. MODIFICATION AND TERMINATION. The rights of Optionee are subject to
modification and termination upon the occurrence of certain events as provided
in Sections 13 and 14 of the Plan.

         10. NOTIFICATION OF SALE. Optionee agrees that Optionee, or any person
acquiring shares upon exercise of this option, will notify the Bank not more
than five (5) days after any sale or other disposition of such shares. No shares
issuable upon the exercise of this option shall be issued and delivered unless
and until the Bank has fully complied with all applicable requirements of any
regulatory agency having jurisdiction over the Bank, and all applicable
requirements of any exchange upon which stock of the Bank may be listed.

                                       18
<PAGE>

         11. NOTICES. Any notice to the Bank provided for in this Agreement
shall be addressed to it in care of its President at its main office and any
notice to Optionee shall be addressed to Optionee's address on file with the
Bank or a subsidiary corporation, or to such other address as either may
designate to the other in writing. Any notice shall be deemed to be duly given
if and when enclosed in a properly sealed envelope and addressed as stated above
and deposited, postage prepaid, with the United States Postal Service. In lieu
of giving notice by mail as aforesaid, any written notice under this Agreement
may be given to Optionee in person, and to the Bank by personal delivery to its
President.

         12. INCENTIVE STOCK OPTION. This Agreement is intended to be an
incentive stock option agreement as defined in Section 422 of the Code.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written.

OPTIONEE                                    MISSION BANK

By________________________________          By__________________________________

                                            By__________________________________

                                       19
<PAGE>

NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, NO SHARES OF MISSION
BANK'S STOCK SHALL BE ISSUED PURSUANT HERETO UNLESS THE MISSION BANK 1998 STOCK
OPTION PLAN SHALL HAVE FIRST BEEN APPROVED BY THE SHAREHOLDERS OF MISSION BANK.

                                  MISSION BANK

                       NONQUALIFIED STOCK OPTION AGREEMENT

         This Nonqualified Stock Option Agreement (the "Agreement") is made and
entered into as of the ___ day of ________, ____, by and between Mission Bank, a
California corporation (the "Bank"), and _________________________ ("Optionee");

         WHEREAS, pursuant to the Mission Bank 1998 Stock Option Plan (the
"Plan"), a copy of which is attached hereto, the Board of Directors of the Bank
has authorized granting to Optionee, a nonqualified stock option to purchase all
or any part of ________________ (___________) authorized but unissued shares of
the Bank's common stock for cash at the price of ______________ Dollars and
___________ Cents ($__.__) per share, such option to be for the term and upon
the terms and conditions hereinafter stated;

         NOW, THEREFORE, it is hereby agreed:

         1. GRANT OF OPTION. Pursuant to said action of the Board of Directors
and pursuant to authorizations granted by all appropriate regulatory and
governmental agencies, the Bank hereby grants to Optionee the option to
purchase, upon and subject to the terms and conditions of the Plan, which is
incorporated in full herein by this reference, all or any part of
_______________ (______) shares of the Bank's common stock (hereinafter called
"stock") at the price of ________________ Dollars and ___________ Cents ($__.__)
per share, which price is not less than one hundred percent (100%) of the

                                       20
<PAGE>

fair market value of the stock as of the date of action of the Board of
Directors granting this option.

         2.       EXERCISABILITY.  This option shall be exercisable as

to______________________________________________________________________________

________________________________________________________________________________

_______________________________________. This option shall remain exercisable as
to all of such shares until _______________ __, ____, (but not later than ten
(10) years from the date this option is granted) unless this option has expired
or terminated earlier in accordance with the provisions hereof. Shares as to
which this option becomes exercisable pursuant to the foregoing provision may be
purchased at any time prior to expiration of this option.

         3. EXERCISE OF OPTION. This option may be exercised by written notice
delivered to the Bank stating the number of shares with respect to which this
option is being exercised, together with cash in the amount of the purchase
price of such shares. Not less than one (1) share may be purchased at any one
time, and in no event may the option be exercised with respect to fractional
shares. Upon exercise, Optionee shall make appropriate arrangements and shall be
responsible for the withholding of any federal and state taxes then due.

         4. CESSATION OF EMPLOYMENT. Except as provided in Paragraphs 2 and 5
hereof, if Optionee shall cease to be an employee of the Bank or a subsidiary
corporation for any reason other than Optionee's death or disability [as defined
in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended from time
to time (the "Code")], this option shall expire three (3) months thereafter.
During the three (3) month period this option shall be exercisable only as to
those installments, if any, which had accrued as of the date when the Optionee
ceased to be an employee of the Bank or a subsidiary

                                       21
<PAGE>

corporation.

         5. TERMINATION OF EMPLOYMENT FOR CAUSE. If Optionee's employment with
the Bank or a subsidiary corporation is terminated for cause, this option shall
expire immediately, unless reinstated by the Board of Directors within thirty
days (30) days of such termination by giving written notice of such
reinstatement to Optionee at his or her last known address. In the event of such
reinstatement, Optionee may exercise this option only to such extent, for such
time, and upon such terms and conditions as if Optionee had ceased to be an
employee of the Bank or a subsidiary corporation upon the date of such
termination for a reason other than cause, death or disability. Termination for
cause shall include, but not be limited to, termination for malfeasance or gross
misfeasance in the performance of duties or conviction of a crime involving
moral turpitude, and, in any event, the determination of the Board of Directors
with respect thereto shall be final and conclusive.

         6. NONTRANSFERABILITY; DEATH OR DISABILITY OF OPTIONEE. This option
shall not be transferable except by will or by the applicable laws of descent
and distribution and shall be exercisable during Optionee's lifetime only by
Optionee. If Optionee dies while serving as an employee of the Bank or a
subsidiary corporation, or during the three (3) month period referred to in
Paragraph 4 hereof, this option shall expire one (1) year after the date of
Optionee's death or on the day specified in Paragraph 2 hereof, whichever is
earlier. After Optionee's death but before such expiration, the persons to whom
Optionee's rights under this option shall have passed by will or by the
applicable laws of descent and distribution or the executor or administrator of
Optionee's estate shall have the right to exercise this option as to those
shares for which installments had accrued under Paragraph 2 hereof as of the
date on which Optionee ceased to be an employee of the Bank or a subsidiary
corporation.

                                       22
<PAGE>

         If Optionee terminates his or her employment because of disability,
Optionee may exercise this option to the extent he or she is entitled to do so
at the date of termination, at any time within one (1) year of the date of
termination, or before the expiration date specified in Paragraph 2 hereof,
whichever is earlier.

         7. EMPLOYMENT. This Agreement shall not obligate the Bank or a
subsidiary corporation to employ Optionee for any period, nor shall it interfere
in any way with the right of the Bank or a subsidiary corporation to reduce
Optionee's compensation.

         8. PRIVILEGES OF STOCK OWNERSHIP. Optionee shall have no rights as a
shareholder with respect to the Bank's stock subject to this option until the
date of issuance of stock certificates to Optionee. Except as provided in the
Plan, no adjustment will be made for dividends or other rights for which the
record date is prior to the date such stock certificates are issued.

         9. MODIFICATION AND TERMINATION. The rights of Optionee are subject to
modification and termination upon the occurrence of certain events as provided
in Sections 13 and 14 of the Plan.

         10. NOTIFICATION OF SALE. Optionee agrees that Optionee, or any person
acquiring shares upon exercise of this option, will notify the Bank not more
than five (5) days after any sale or other disposition of such shares. No shares
issuable upon the exercise of this option shall be issued and delivered unless
and until the Bank has fully complied with all applicable requirements of any
regulatory agency having jurisdiction over the Bank, and all applicable
requirements of any exchange upon which stock of the Bank may be listed.

         11. NOTICES. Any notice to the Bank provided for in this Agreement
shall be addressed to it in care of its President at its main office and any
notice to Optionee shall be addressed to Optionee's

                                       23
<PAGE>

address on file with the Bank or a subsidiary corporation, or to such other
address as either may designate to the other in writing. Any notice shall be
deemed to be duly given if and when enclosed in a properly sealed envelope and
addressed as stated above and deposited, postage prepaid, with the United States
Postal Service. In lieu of giving notice by mail as aforesaid, any written
notice under this Agreement may be given to Optionee in person, and to the Bank
by personal delivery to its President.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written.

OPTIONEE                                    MISSION BANK

By_____________________________             By__________________________________

                                            By__________________________________

                                       24<PAGE>

                                                                    EXHIBIT 10.9

                              CONSULTING AGREEMENT

This Consulting Agreement ("Agreement") is entered into by and between LEO
PIERUCCI ("CONSULTANT") on the one hand, and MISSION BANK (the "COMPANY") on the
other hand, to be effective as of November 27, 2000, with regard to the
following:

         1. BACKGROUND AND PURPOSE OF AGREEMENT. COMPANY desires to engage the
services of CONSULTANT to provide managerial and financial services to COMPANY
by providing advice in the areas of business development and customer relations
utilizing CONSULTANT's knowledge of and experience in the banking business.
CONSULTANT is willing to provide such services.

         2. TERM OF AGREEMENT. COMPANY hereby retains CONSULTANT and CONSULTANT
hereby agrees to be retained by COMPANY for a period of one (1) year from the
execution of this Agreement. This Agreement may be terminated at any time, with
or without cause, by either party upon thirty (30) days written notice.

         3. DUTIES OF CONSULTANT. CONSULTANT shall be available to provide
consultation service to COMPANY on all questions within the scope of his
expertise either by telephone, if reasonably possible, or at the office of the
COMPANY when necessary. CONSULTANT's primary responsibility shall be to expand
the visibility of the COMPANY in the business community and to assist the
COMPANY in the acquisition of deposit accounts and business loans. CONSULTANT
shall hold the title of Executive Vice President of Business Development.
CONSULTANT will also be invited to attend COMPANY's Board of Director's
meetings, which are held on the third Thursday of each month at 5:00 PM.

         4. HOURS OF SERVICE. CONSULTANT shall provide services to COMPANY and
shall make himself reasonably available to COMPANY, as needed and upon the
request of COMPANY. CONSULTANT shall be obligated to provide an average of
twenty (20) to twenty-five (25) hours of service to COMPANY per week; CONSULTANT
and COMPANY agree that this number represents both the maximum and minimum
number of hours which CONSULTANT is obligated to provide services to COMPANY.
Both CONSULTANT and COMPANY acknowledge and agree that due to the nature of the
services CONSULTANT will perform, CONSULTANT shall be under no obligation to
provide any specific number of hours of service in any given week. CONSULTANT
shall not be obligated under this Agreement to maintain a regular work schedule
and shall have the flexibility to select his own hours.

         5. COMPENSATION. As compensation for the services to be performed
hereunder, CONSULTANT shall receive:

            (a) the sum of two thousand five hundred dollars ($2,500.00) each
month for the term of this Agreement, irrespective of the number of hours per
month that CONSULTANT provides services

                                       1
<PAGE>

to the COMPANY; provided, however, that payments on all sums earned under this
Paragraph 5(a) after the date of this Agreement shall be paid as follows: (i)
all sums earned in the year 2000 shall be paid in a lump sum on January 1, 2003
and (ii) all sums earned in the year 2001 shall be paid in a lump sum on January
1, 2004. All earned but unpaid sums shall accrue interest at the rate of six
percent (6%) from the date the sums are earned until they are paid to
CONSULTANT. COMPANY shall provide CONSULTANT an accounting on an annual basis.
In the event of CONSULTANT's death, all sums earned hereunder shall be paid in
accordance with the above payment schedule; and

            (b) an expense account to cover all actual costs associated with
business development for COMPANY; and

            (c) a flat monthly fee of three hundred dollars ($300.00) for the
use of CONSULTANT's personal automobile; and

            (d) a business membership to the Bell Tower Club and access to their
dining and parking facilities; and

            (e) an option to purchase one thousand (1,000) shares of COMPANY on
the terms and conditions contained in the Incentive Stock Option Agreement,
Exhibit "A", which is attached hereto and incorporated herein.

         6. INDEPENDENT CONTRACTOR. The services of CONSULTANT shall be those of
an independent contractor, and CONSULTANT shall in no event be considered an
employee of COMPANY. CONSULTANT shall be responsible for payment of all taxes of
any nature as a result of any amounts paid or payable to CONSULTANT by COMPANY
hereunder. COMPANY shall not withhold any taxes or any other sums from the
payments made to CONSULTANT pursuant to this Agreement. Although the COMPANY
will consult and confer with CONSULTANT regarding the performance of his duties,
CONSULTANT will determine the method, details, and means of performing his
duties. As an independent contractor, CONSULTANT will not be entitled to the
rights or benefits afforded to employees, including disability or unemployment
insurance, worker's compensation, medical insurance, sick leave, or any other
employment benefit. Should CONSULTANT choose to provide any of these benefits
for himself, he will be responsible for the cost of same. Beyond those expenses
which are contemplated to be covered by the expense account described in
Paragraph 5(b), CONSULTANT shall be responsible for providing his own supplies,
equipment, and work space.

         7. COMPETITIVE ACTIVITIES. CONSULTANT acknowledges and agrees that the
sale or unauthorized use or disclosure of any of COMPANY's trade secrets
obtained by CONSULTANT during his relationship with the COMPANY prior to or
pursuant to this Agreement, including, without limitation, information
concerning COMPANY's finances, personnel, or other managerial or operational
matters, and proposed services or those of any of its associates, the fact that
any particular services are planned or under consideration, as well as any
description of the features thereof ("Confidential Information"). CONSULTANT
promises and agrees not to disclose any Confidential Information. The foregoing

                                       2
<PAGE>

obligation not to use or disclose any of such Confidential Information shall not
apply, following the termination of this Agreement, to any Confidential
Information that is or becomes public knowledge in the businesses in which the
COMPANY or any of its affiliates are engaged, through no action or fault of
CONSULTANT, and that may be utilized by the public without any direct or
indirect obligation to the COMPANY or any of its affiliates. Following
termination of this Agreement, CONSULTANT agrees that neither CONSULTANT nor any
of its affiliates shall interfere with the business of the COMPANY or any of its
affiliates and shall immediately surrender to the COMPANY or its affiliates all
property, equipment, funds, lists, books, records and other materials of the
COMPANY or its affiliates in his possession or under his control.

         8. INDEMNIFICATION. CONSULTANT shall be entitled to indemnification and
reimbursement from the COMPANY for any expense, loss, damage, liability, costs,
or claim (including, without limitation, attorney's fees and costs of
litigation) incurred by CONSULTANT by reason of any act performed or omitted to
be performed by CONSULTANT, acting in good faith, in the performance of his
duties as a consultant. Notwithstanding the foregoing, CONSULTANT shall not be
indemnified or reimbursed with respect to any expense, loss, damage, or claim
incurred by acts or omissions, committed intentionally, with gross negligence,
in bad faith, or with reckless indifference to the interests of the COMPANY.

         9. SUCCESSORS AND ASSIGNS. This Agreement, and all the terms and
provisions hereof, shall be binding upon and shall inure to the benefit of the
parties and their respective heirs, legal representatives, successors and
assigns.

         10. WAIVER. No waiver of any of the provisions of this Agreement shall
be deemed, or shall constitute, a waiver of any other provision, whether or not
similar. No waiver shall constitute a continuing waiver. No waiver shall be
binding unless executed in writing by the party charged with the waiver.

         11. SEVERABILITY. In the event any provision of this Agreement shall
finally be determined to be unlawful, such provision shall be deemed to be
severed from this Agreement and every other provision of this Agreement shall
remain in full force and effect. If, moreover, any one or more of the provisions
contained in this Agreement shall for any reason be held to be excessively
broad, it shall be construed by limiting and reducing it, so as to be
enforceable to the extent compatible with the applicable law as it shall then
appear.

         12. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement
and supersedes all prior written or oral and all contemporaneous oral
agreements, understandings and negotiations between the parties with respect to
the subject matter of this Agreement.

         13. COUNTERPARTS. This Agreement may be executed in counterparts, each
of which shall be deemed an original and all of which shall constitute one and
the same instrument.

         14. AMENDMENT. This Agreement may not be amended except by an agreement
in writing signed by the parties to this Agreement or their respective
successors-in-interest and expressly stating that

                                       3
<PAGE>

it is an amendment of this Agreement.

         15. GOVERNING LAW. This Agreement shall be governed in all respects,
including validity, interpretation and effect, by the laws of the State of
California.

         16. ATTORNEY'S FEES. In the event that any suit or proceeding is
brought to enforce, construe, interpret, rescind or cancel this Agreement or any
of its provisions, the prevailing party shall recover against the other party
all of its actual attorney's fees incurred in connection with such action or
proceeding, including any appeals.

         17. CONSTRUCTION. This Agreement has been drafted by KLEIN, DeNATALE,
GOLDNER, COOPER, ROSENLIEB & KIMBALL, L.L.P. ("Klein DeNatale") as attorneys for
the COMPANY. CONSULTANT recognizes that Klein DeNatale does not represent him in
the drafting of this Agreement and that he has been advised to seek independent
counsel to represent him in the negotiation and drafting of this Agreement.

                                                             /s/ LP
                                                 -------------------------------
                                                      Consultant's Initials

         The parties have executed this Agreement to be effective as of the date
first written above.

MISSION BANK                                     CONSULTANT

By:  /s/ Richard Fanucchi                        By: /s/ Leo Pierucci
     ---------------------------                    ---------------------------
         RICHARD FANUCCHI                                LEO PIERUCCI
         Its:  President

                                       4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00035-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00035-of-00352.parquet"}]]