Document:

Exhibit 10.2

 Exhibit 10.2 

SQUARE 1 FINANCIAL, INC. 

2009 STOCK INCENTIVE PLAN 
 1.
PURPOSE. The purpose of this 2009 Stock Incentive Plan (the “Plan”) is to aid Square 1 Financial, Inc., a Delaware corporation (together with its successors and assigns, the “Company”), in attracting, retaining,
motivating and rewarding employees and non-employee directors of the Company or its Subsidiaries or Affiliates, to provide for equitable and competitive compensation opportunities, to recognize individual contributions and reward achievement of
Company goals, and to promote the creation of long-term value for stockholders by closely aligning the interests of Participants with those of stockholders. The Plan is a complete amendment and restatement of the Company’s 2005 Stock Option
Plan (the “Prior Plan”). 
 2. DEFINITIONS. In addition to the terms defined in Section 1 above and elsewhere in the Plan, the
following capitalized terms used in the Plan have the respective meanings set forth in this Section: 
 Affiliate means Square 1 Bank
and any other corporation or other entity that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with the Company. For purposes of the Plan, an ownership interest of more than fifty
percent (50%) shall be deemed to be a controlling interest. 
 Award means any Option, SAR, Restricted Stock or Other
Stock-Based Award, together with any related right or interest, granted to a Participant under the Plan. 
 Award Agreement means the
document issued, either in writing or by electronic means, by the Company to a Participant evidencing the grant of an Award and setting forth the specific terms, conditions, restrictions and limitations applicable to the Award. 

Beneficiary means the person, persons, trust or trusts designated as being entitled to receive the benefits under a Participant’s
Award upon and following such Participant’s death. Unless otherwise determined by the Committee, a Participant may designate one or more individuals and/or one or more trusts as his or her Beneficiary, and in the absence of a designated
Beneficiary the Participant’s Beneficiary shall be as specified in Section 10(b)(ii). Unless otherwise determined by the Committee, any designation of a Beneficiary other than a Participant’s spouse, or a trust in which the
Participant’s spouse is the sole beneficiary, shall be subject to the written consent of such spouse. 
 Board means the
Company’s Board of Directors. 
 Change in Control shall have the meaning specified in Section 9(b). 

Code means the Internal Revenue Code of 1986, as amended. References to any provision of the Code or regulation thereunder shall
include any successor provisions and regulations, and reference to regulations includes any applicable guidance or pronouncement of the Department of the Treasury and Internal Revenue Service. 

Committee means the Compensation Committee of the Board as designated from time to time by the Board. The full Board may perform any
function of the Committee hereunder in which case the term “Committee” shall refer to the Board. 
 Disability means an
event which results in the Participant being (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a
continuous period of not less than twelve 

  
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(12) months, or (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not
less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Company or any Subsidiary. 

Effective Date means the date of approval of the Plan by the Company’s stockholders, as specified in Section 10(l). 

Eligible Person has the meaning specified in Section 5. 

Exchange Act means the Securities Exchange Act of 1934, as amended. References to any provision of the Exchange Act or rule (including
a proposed rule) thereunder shall include any successor provisions and rules. 
 Fair Market Value means the fair market value of
Stock, Awards or other property as determined in good faith by the Committee or under procedures established by the Committee. Fair Market Value relating to the exercise price or base price of any Option or SAR and relating to the market value of
Stock measured at the time of exercise shall be determined in accordance with applicable requirements under Code Section 409A, including without limitation, the requirements specified in Treasury Regulation Section 1.409A-1(b)(5)(iv). 

Incentive Stock Option or ISO means an Option granted under Section 6(b) that meets the requirements of Code
Section 422 and any regulations or rules promulgated thereunder, and is designated as an Incentive Stock Option in the Award Agreement. 

Nonqualified Stock Option means any Option granted under Section 6(b) that is not an Incentive Stock Option. 

Option means a right to purchase Stock granted under Section 6(b). 

Other Stock-Based Award means an Award (other than an Option, SAR or Restricted Stock Award) granted to a Participant under
Section 6(f) that consists of, or is denominated in, payable in, valued in whole or in part by reference to, or otherwise based on or related to, Stock or factors that influence the value of Stock. 

Participant means a person who has been granted an Award under the Plan that remains outstanding, including a person who is no longer
an Eligible Person. 
 Restricted Stock means Stock granted under this Plan that is subject to such restrictions and risks of
forfeiture that the Committee, in its discretion, shall impose at the time of grant and set out in the Award Agreement. 
 Restriction
Period means the period of time during which Restricted Stock Awards will remain subject to restrictions imposed by the Committee and set out in the Award Agreement. 

Separation from Service means the date of cessation of a Participant’s employment or service relationship with the Company and any
Affiliate or Subsidiary for any reason, with or without cause, as determined by the Company. A transfer of a Participant between and among the Company or a Subsidiary or Affiliate shall not be deemed a Separation from Service for purposes of the
Plan. Notwithstanding the forgoing, the date on which a participant incurs a Separation from Service shall be determined in accordance with Code Section 409A(a)(2)(A)(i) and Treasury Regulation Section 1.409A-1(h). 

  
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 Stock means the Company’s common stock, par value $0.01 per share, and any other
equity securities of the Company that may be substituted or resubstituted for Stock pursuant to Section 10(c). 
 Stock Appreciation
Right or SAR means a right granted to a Participant under Section 6(c). 
 Subsidiary means any corporation which at
the time qualifies as a subsidiary of the Company under the definition of “subsidiary corporation” in Code Section 424(f). 
 3.
ADMINISTRATION.  
 (a) Authority of the Committee. The Plan shall be administered by the Committee,
which shall have full and final authority and discretion, in each case subject to and consistent with the provisions of the Plan and any applicable laws or regulations, to: 

(i) select Eligible Persons to become Participants; 

(ii) grant Awards under the Plan and determine the form of an Award, the amount of Stock subject to an Award, and all terms, conditions and
other matters relating to an Award, including without limitation, the dates on which Awards may be exercised or become vested and the Restriction Period, if any, relating to an Award, the expiration date of an Award, and whether, to what extent, and
under what circumstances an Award may be settled, or the exercise price of an Award may be paid, in cash, Stock, other Awards, or other property; 

(iii) subject to any express provision of the Plan, waive or amend any terms, conditions, restrictions or limitations on an Award; 

(iv) prescribe the terms of any Award Agreements evidencing Awards (such Award Agreements need not be identical for each Participant or each
Award), amendments thereto, and rules and regulations for the administration of the Plan and amendments thereto; 
 (v) make any adjustments
permitted by the Plan (including but not limited to adjustment of the number of shares of Stock available under the Plan or any Award) and any Award granted under the Plan as may be appropriate pursuant to Section 10(c); 

(vi) construe and interpret the Plan and Award Agreements and correct defects, supply omissions or reconcile inconsistencies therein; and 

(vii) make all other decisions and determinations as the Committee may deem necessary or advisable for the administration of the Plan. 

(b) Committee Determinations. Decisions of the Committee with respect to the administration and interpretation of
the Plan shall be final, conclusive and binding upon all persons interested in the Plan, including Participants, Beneficiaries, transferees under Section 10(b) and other persons claiming rights from or through a Participant, and stockholders.
The foregoing notwithstanding, either the Board, the Committee, or another committee of the Board may perform the functions of the Committee for purposes of granting Awards under the Plan to non-employee directors, as the Board may at any time
direct. 
 (c) Delegation of Authority. The Committee may delegate to one or more officers or managers of the Company
or any Subsidiary or Affiliate, or committees thereof, the authority, subject to such terms as the Committee shall determine, to perform such administrative functions as the Committee may determine. 

  
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 (d) Limitation of Liability. The Committee and each member thereof,
and any person acting pursuant to authority delegated by the Committee, shall be entitled, in good faith, to rely or act upon any report or other information furnished by any executive officer, other officer or employee of the Company or a
Subsidiary or Affiliate, the Company’s independent auditors or consultants or any other agents assisting in the administration of the Plan. Members of the Committee, any person acting pursuant to authority delegated by the Committee, and any
officer or employee of the Company or a Subsidiary or Affiliate acting at the direction or on behalf of the Committee or a delegee shall not be personally liable for any action or determination taken or made in good faith with respect to the Plan
and shall, to the fullest extent permitted by law and the Company’s By-Laws, be fully indemnified and protected by the Company with respect to any such action or determination. 

4. STOCK SUBJECT TO PLAN. 
 (a)
Overall Number of Shares Available for Delivery. Subject to adjustment as provided under Section 10(c), the total number of shares of Stock reserved and available for delivery in connection with Awards under the Plan
shall be 2,075,000 shares. Such shares shall include 1,575,000 shares reserved under the Prior Plan and 500,000 shares added in connection with the amendments and restatement of the Prior Plan. Any shares of Stock delivered under the Plan shall
consist of authorized and unissued shares or treasury shares. 
 (b) Share Counting Rules. The Committee may
adopt reasonable counting procedures to ensure appropriate counting, avoid double counting and make adjustments in accordance with this Section 4(b). Shares shall be counted against those reserved to the extent such shares have been delivered
and are no longer subject to a substantial risk of forfeiture. Accordingly, (i) to the extent that an Award under the Plan is canceled, expired, forfeited, exchanged, settled in cash, settled by delivery of fewer shares than the number
underlying the Award, or otherwise terminated without delivery of shares to the Participant, the shares retained by or returned to the Company will not be deemed to have been delivered under the Plan and (ii) shares that are withheld from an
Award or separately surrendered by the Participant in payment of the exercise price or taxes relating to such Award shall be deemed to constitute shares not delivered and will be available under the Plan. All shares are available for the grant of
ISOs. 
 5. ELIGIBILITY. Awards may be granted under the Plan only to Eligible Persons. For purposes of the Plan, an “Eligible
Person” means: 
 (a) an employee of the Company or any Subsidiary or Affiliate, or 

(b) any non-employee director of the Company or any Subsidiary or Affiliate. 

An employee on leave of absence may be considered as still in the employ of the Company, or a Subsidiary or Affiliate, for purposes of eligibility to
participate in the Plan. 
 6. SPECIFIC TERMS OF AWARDS.  

(a) General. Awards may be granted on the terms and conditions set forth in this Section 6. In addition, the
Committee may impose on any Award or the exercise thereof, at the date of grant or thereafter, such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee, in its sole discretion, shall determine, including
terms requiring forfeiture of Awards in the event of Separation from Service by the Participant and terms permitting a Participant to make elections 

  
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relating to his or her Award to the extent permitted under the Plan. The Committee shall retain full power and discretion with respect to any term or condition of an Award that is not mandatory
under the Plan, or contained in an Award Agreement. The Committee shall require the payment of lawful consideration for an Award to the extent necessary to satisfy the requirements of the Delaware General Corporation Law or other applicable law, and
may otherwise require payment of consideration for an Award, except as limited by the Plan. 
 (b) Options. The
Committee is authorized to grant Options to those Eligible Persons whom the Committee may from time to time select, in the amounts and pursuant to such other terms and conditions that the Committee, in its discretion, may determine and set out in
the Award Agreement, subject to the following provisions: 
 (i) Form. Options granted under the Plan may, at the discretion of the
Committee, be in the form of Nonqualified Stock Options, Incentive Stock Options or a combination of the two, subject to the restrictions set forth in paragraph (vii) below with respect to grants of Incentive Stock Options. The Committee shall
designate the form of the Option at the time of grant and such form shall be specified in the Award Agreement. Where both a Nonqualified Stock Option and an Incentive Stock Option are granted to an Eligible Person at the same time, such Awards shall
be deemed to have been granted in separate grants, shall be clearly identified, and in no event will the exercise of one such Award affect the right to exercise the other Award. 

(ii) Exercise Price. The exercise price per share of Stock purchasable under an Option (including both ISOs and Nonqualified Stock
Options) shall not be less than the Fair Market Value of a share of Stock on the date of grant of such Option. Notwithstanding the foregoing, any substitute Award granted in assumption of or in substitution for an outstanding award granted by a
company or business acquired by the Company or a Subsidiary or Affiliate, or with which the Company or a Subsidiary or Affiliate combines may be granted with an exercise price per share of Stock other than as required above, provided that exercise
price set by the Committee for such substitute Award satisfies the requirements of Treasury Regulation Section 1.409A-1(b)(5)(v)(D) so that the grant of such substitute Award will not be treated as the grant of a new Stock right or a change in
the form of payment of the original outstanding award for purposes of Code Section 409A. No adjustment will be made for a dividend or other right for which the record date is prior to the date on which the stock is issued, except as provided in
Section 10(c) of the Plan. 
 (iii) Option Term. In no event shall the term of any Option exceed a period of ten years from the
date of grant. 
 (iv) Time of Exercise. The Committee shall determine and set out in the Award Agreement the time or times at which,
or the circumstances under which, an Option may be exercised in whole or in part; provided, however, that the Committee may provide, by rule or regulation or in any Award Agreement, or may determine in any individual case, that forfeiture conditions
or restrictions on exercise relating to Options will lapse in whole or in part in the event of a Separation from Service resulting from specified causes, but only to the extent that such action will not cause the Option to become subject to the
requirements of Code Section 409A. 
 (v) Method of Exercise. Unless the Committee provides otherwise in an Award Agreement, an
Option may be exercised by giving written notice to the Company specifying the number of shares to be purchased, which shall be accompanied by full payment of the exercise price plus applicable taxes, if any. No Stock certificates shall be
registered and delivered, and no Participant shall have any rights to dividends or other rights of a shareholder with respect to shares subject to the Option, until the Participant has given written notice of exercise and made full payment of the
exercise price for such shares (including taxes). The Committee may set out in the Award Agreement such other conditions and limitations on the exercise of Options as it, in its sole discretion, shall determine. 

  
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 (vi) Payment of Exercise Price. Unless the Committee provides otherwise in an Award
Agreement, payment of the exercise price of an Option may be made in cash or by certified check, bank draft, wire transfer, or postal or express money order. In addition, at the discretion of the Committee, the Committee may provide that payment of
all or a portion of the exercise price may be made by: 
 (A) Tendering (actually or by attestation) to the Company previously acquired
shares of Stock that have been held by the Participant for at least six (6) months and that have a Fair Market Value on the day prior to the date of exercise equal to the applicable portion of the exercise price being so paid; 

(B) Provided such payment method has been expressly authorized by the Board or the Committee in advance in a writing delivered to the
Participant with respect to a specific Option exercise and subject to any requirements of applicable law and regulations, instructing the Company to reduce the number of shares that would otherwise be issued on exercise by such number of shares
having in the aggregate a Fair Market Value on the date of exercise equal to the applicable portion of the exercise price being so paid; or 

(C) To the extent permitted by law, by means of a broker-assisted cashless exercise transaction. 

(vii) Incentive Stock Options. Incentive Stock Options granted under the Plan shall be subject to the following additional conditions,
limitations and restrictions. 
 (A) Eligibility. Incentive Stock Options may be granted only to employees of the Company or
an Affiliate or Subsidiary that is a “subsidiary” or “parent corporation,” within the meaning of Code Section 424, of the Company. In no event may an Incentive Stock Option be granted to an employee who owns stock possessing
more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or such Affiliate or Subsidiary. 

(B) Timing of Grant. No Incentive Stock Option shall be granted under the Plan after the 10-year anniversary of the earlier of
the date the Plan (in the form in effect prior to this Amendment and Restatement) was originally approved by the Company’s stockholders in accordance with Section 10(o). 

(C) Amount of Award. The aggregate Fair Market Value on the date of grant of the shares with respect to which such Incentive
Stock Options first become exercisable during any calendar year under the terms of the Plan for any Participant may not exceed $100,000. For purposes of this $100,000 limit, the Participant’s Incentive Stock Options under this Plan and all
Plans maintained by the Company and any Affiliate and Subsidiary shall be aggregated. To the extent any Incentive Stock Option first becomes exercisable in a calendar year and such limit would be exceeded, such Incentive Stock Option shall
thereafter be treated as a Nonqualified Stock Option for all purposes. 
 (D) Timing of Exercise. In the event that an
Incentive Stock Option is exercised by a Participant more than three (3) months after a Participant’s Separation from Service (or more than twelve (12) months after the Participant dies or becomes Disabled), such Incentive Stock
Option shall thereafter be treated as a Nonqualified Stock Option for all purposes. For this purpose, an employee’s employment relationship shall be treated as continuing intact while the employee is on

  
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military leave, sick leave or other bona fide leave of absence (such as temporary employment with the Government) duly authorized in writing by the Company if the period of such leave does not
exceed three (3) months or, if longer, so long as the employee’s right to reemployment with the Company or an Affiliate or Subsidiary is guaranteed either by statute or by contract. If the period of leave exceeds three (3) months and
the employee’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship will be deemed to terminate on the first date immediately following such three-month period. 

(E) Transfer Restrictions. In no event shall the Committee permit an Incentive Stock Option to be transferred by a Participant
other than by will or the laws of descent and distribution, and any Incentive Stock Option granted hereunder shall be exercisable, during his or her lifetime, only by the Participant. 

(c) Stock Appreciation Rights. The Committee is authorized to grant SARs to those Eligible Persons whom the
Committee may from time to time select, in the amounts and pursuant to such other terms and conditions that the Committee, in its discretion, may determine and set out in the Award Agreement, subject to the following provisions: 

(i) Right to Payment. A SAR shall confer on the Participant to whom it is granted a right to receive, upon exercise thereof, the excess
of (A) the Fair Market Value of one share of Stock on the date of exercise over (B) the grant price of the SAR as determined by the Committee. The grant price of each SAR shall be not less than the Fair Market Value of a share of Stock on
the date of grant of such SAR. 
 (ii) Other Terms. The Committee shall determine the term of each SAR, provided that in no event
shall the term of an SAR exceed a period of ten (10) years from the date of grant. The Committee shall determine at the date of grant or thereafter, the time or times at which and the circumstances under which a SAR may be exercised in whole or
in part, the method of exercise, method of settlement, form of consideration payable in settlement (which may be either cash or Stock), method by or forms in which Stock will be delivered or deemed to be delivered to Participants, and whether or not
a SAR shall be free-standing or in tandem or combination with any other Award. 
 (d) Restricted Stock. The
Committee is authorized to grant Restricted Stock to those Eligible Persons whom the Committee may from time to time select, in the amounts and pursuant to such other terms and conditions that the Committee, in its discretion, may determine and set
out in the Award Agreement, subject to the following provisions: 
 (i) Grant and Restrictions. Restricted Stock shall be subject to
such restrictions on transferability, risks of forfeiture, Restriction Periods and other restrictions, if any, as the Committee may impose, which restrictions may lapse separately or in combination at such times, under such circumstances (including
based on achievement of performance goals and/or future service requirements), in such installments or otherwise and under such other circumstances as the Committee may determine at the date of grant or thereafter. Except to the extent restricted
under the terms of the Plan and any Award Agreement relating to the Restricted Stock, a Participant granted Restricted Stock shall have all of the rights of a stockholder, including the right to vote the Restricted Stock and the right to receive
dividends thereon; provided, however, that the Committee may require mandatory reinvestment of dividends in additional Restricted Stock, may provide that no dividends will be paid on Restricted Stock or retained by the Participant, or may impose
other restrictions on the rights attached to Restricted Stock. 

  
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 (ii) Forfeiture. Except as otherwise determined by the Committee, upon Separation from
Service during the applicable Restriction Period, Restricted Stock that is at that time subject to restrictions shall be forfeited and reacquired by the Company; provided that the Committee may provide, by rule or regulation or in any Award
Agreement, or may determine in any individual case, that restrictions or forfeiture conditions relating to Restricted Stock will lapse in whole or in part, including in the event of a Separation from Service resulting from specified causes, such as
Retirement. 
 (iii) Certificates for Stock. Restricted Stock granted under the Plan may be evidenced in such manner as the Committee
shall determine. If certificates representing Restricted Stock are registered in the name of the Participant, the Committee may require that such certificates bear an appropriate legend referring to the terms, conditions and restrictions applicable
to such Restricted Stock, that the Company retain physical possession of the certificates, and that the Participant deliver a stock power to the Company, endorsed in blank, relating to the Restricted Stock. 

(iv) Dividends and Splits. As a condition to the grant of an Award of Restricted Stock, the Committee may require and provide in the
Award Agreement that any dividends paid on a share of Restricted Stock shall be either (A) paid with respect to such Restricted Stock at the dividend payment date in cash, in kind, or in a number of shares of unrestricted Stock having a Fair
Market Value equal to the amount of such dividends, or (B) automatically reinvested in additional Restricted Stock or held in kind, which shall be subject to the same terms as applied to the original Restricted Stock to which it relates. Unless
otherwise determined by the Committee, Stock distributed in connection with a Stock split or Stock dividend, and other property distributed as a dividend, shall be subject to restrictions and risks of forfeiture to the same extent as the Restricted
Stock with respect to which such Stock or other property has been distributed. 
 (e) Bonus Stock and Awards in Lieu of
Obligations. The Committee is authorized to grant to those Eligible Persons whom the Committee may from time to time select Stock as a bonus, or to grant Stock or other Awards in lieu of obligations of the Company or a Subsidiary
or Affiliate to pay cash or deliver other property under the Plan, or under other plans or compensatory arrangements, subject to such terms as shall be determined by the Committee and provided in the Award Agreement. 

(f) Other Stock-Based Awards. The Committee is authorized, subject to limitations under applicable law, to grant
to those Eligible Persons whom the Committee may from time to time select such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Stock or factors that may influence
the value of Stock, including, without limitation, convertible or exchangeable debt securities, other rights convertible or exchangeable into Stock, purchase rights for Stock, Awards with value and payment contingent upon performance of the Company
or business units thereof or any other factors designated by the Committee, and Awards valued by reference to the book value of Stock or the value of securities of or the performance of specified Subsidiaries or Affiliates or other business units.
The Committee shall determine and provide in the Award Agreement the terms and conditions of such Awards. Cash awards, as an element of or supplement to any other Award under the Plan, may also be granted pursuant to this Section 6(f). 

7. CERTAIN PROVISIONS APPLICABLE TO AWARDS. 

(a) Stand-Alone, Additional, Tandem, and Substitute Awards. Awards granted under the Plan may, in the discretion
of the Committee, be granted either alone or in addition to, in tandem with, or in substitution or exchange for, any other Award or any award granted under another plan of the Company, any Subsidiary or Affiliate, or any business entity to be
acquired by the Company or a Subsidiary or Affiliate, or any other right of a Participant to receive payment from the Company or any Subsidiary or Affiliate. Awards granted in addition to or in tandem with other Awards may be granted either as of
the same time as or a different time from the grant of such other Awards. Any transaction otherwise authorized under this Section 7(a) remains subject to the restriction on repricing under Section 10(e). 

  
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 (b) Term of Awards. The term of each Award shall be for such period
as may be determined by the Committee, subject to the express limitations set forth elsewhere in the Plan. 
 (c) Effect of
Termination for Cause. If a Participant’s termination of employment or service is for “Cause”, a Participant’s unvested Awards and all vested Options shall be forfeited as of the date of termination. A
termination for “Cause” shall mean a termination on account of (i) the commission by the Participant of willful misconduct (including, without limitation, a dishonest or fraudulent act) or a grossly negligent act, or the willful
or grossly negligent omission to act by the Participant, which is intended to cause, causes or is reasonably likely to cause material harm to the Company or an Affiliate (including harm to its business reputation), (ii) the conviction of
the Participant for the commission or perpetration by the Participant of any felony or any crime involving dishonesty, moral turpitude or fraud, (iii the receipt of any form of notice, written or otherwise, that any regulatory agency
having jurisdiction over the Company or an Affiliate intends to institute any form of formal or informal regulatory action against the Participant (provided that the Board determines in good faith that the subject matter of such action
involves acts or omissions by or under the supervision of the Participant or that termination of the Participant would materially advance the Company’s or an Affiliate’s compliance with the purpose of the action or would
materially assist the Company or an Affiliate in avoiding or reducing the restrictions or adverse effects of the regulatory action); (iv) the exhibition by the Participant of a standard of behavior within the scope of the
Participant’s employment or service that is materially disruptive to the orderly conduct of the Company’s business operations (including, without limitation, substance abuse or sexual misconduct) to a level which, in the Board’s good
faith and reasonable judgment, is materially detrimental to the Company’s best interest, that, if susceptible of cure remains uncured ten days following written notice to the Participant of such specific inappropriate behavior; or
(v) in the case of a Participant who is an employee, the failure of the Participant to devote the Participant’s full business time and attention to Participant’s employment that, if susceptible of cure, remains uncured 30
days following written notice to the Participant of such failure. 
 (d) Acceleration of Vesting. Unless
otherwise determined by the Committee at the time an Award is made, a Participant’s Award(s) shall be fully vested upon the Participant’s death or Disability. 

8. CHANGE IN CONTROL. 
 (a)
Effect of Change in Control. In the event that there occurs a Change in Control, the following provisions shall apply to a Participant’s Awards, unless otherwise provided by the Committee in the Award Agreement (in
language specifically negating the effect of this Section 8(a)): 
 (i) In the case of an Award, all forfeiture conditions and other
restrictions applicable to such Award shall lapse and such Award shall be fully payable as of the effective date of the Change in Control without regard to vesting or other conditions, and any such Award carrying a right to exercise that was not
previously vested and exercisable shall become fully vested and exercisable as of the effective date of the Change in Control. 
 (ii) The
Committee may unilaterally determine that all outstanding Awards are cancelled upon a Change in Control and that the value of such Awards, as determined by the Committee, be paid out in cash in an amount based on the “Change in Control
Price” within a reasonable period of time after the Change in Control effective date. For purposes of this paragraph, the “Change in Control Price” shall mean the highest price per share offered for a share of Stock in connection with
any 

  
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transaction constituting a Change in Control (as determined in good faith by the Committee if any part of such price is payable other than in cash) or, if the Change in Control event relates to a
change in Board composition, the Fair Market Value of the Stock as of such event (as determined in good faith by the Committee). 
 (iii) If
a Participant’s employment with the Company or an Affiliate is terminated within 12 months of Change in Control, then, notwithstanding any other provision of the Plan or the Participant’s Award Agreement(s), the Participant shall have
until the first to occur of (i) the first anniversary of the Participant’s termination date or (ii) the expiration of the term of the Participant’s Option(s), to exercise such Option(s). 

(b) Definition of “Change in Control.” “Change in Control” means the occurrence of any one of the
following events after the Effective Date: 
 (i) Any Person (as defined in Section 13(d)(3) of the Securities and Exchange Act) shall
have become the direct or indirect beneficial owner of twenty five percent (25%) or more of the then outstanding common shares of the Company; 

(ii) The consummation of a merger, consolidation, share exchange, division, sale or other disposition of all or substantially all of the
assets of the Company (each, a “Corporate Event”), immediately following which the shareholders of the Company immediately prior to such Corporate Event do not hold, directly or indirectly, a majority of the voting power of (i) in the
case of a merger or consolidation, the surviving or resulting corporation, (ii) in the case of a share exchange, the acquiring corporation, or (iii) in the case of a division or a sale or other disposition of assets, each surviving,
resulting or acquiring corporation which, immediately following the relevant Corporate Event, holds more than twenty-five percent (25%) of the consolidated assets of the Company immediately prior to such Corporate Event. 

(iii) The date the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or
disposition by the Company of all or substantially all the Company’s assets; 
 (iv) The date there shall have been a change in the
composition of the Board within a two-year period such that a majority of the Board does not consist of directors who were serving at the beginning of such period together with directors whose initial nomination for election by the Company’s
stockholders or, if earlier, initial appointment to the Board, was approved by the vote of two-thirds of the directors then still in office who were in office at the beginning of the two-year period together with the directors who were previously so
approved. 
 (c) Alternative Awards. Notwithstanding anything in this Article 8 to the contrary, no cash settlement or
other payment shall occur with respect to any Award if the Committee reasonably determines in good faith prior to the occurrence of a Change in Control that such Award shall be honored or assumed, or new rights substituted therefor (such honored,
assumed or substituted Award hereinafter called an “Alternative Award”) by any successor to the Company; provided that any such Alternative Award must: 

(i) Be based on stock which is traded on an established U.S. securities market, or that the Committee reasonably believes will be so traded
within sixty (60) days after the Change in Control; 
 (ii) Provide such Participant with rights and entitlements substantially
equivalent to or better than the rights, terms and conditions applicable under such Award, including, but not limited to, an identical or better exercise or vesting schedule and identical or better timing and methods of payment; 

  
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 (iii) Have substantially equivalent economic value to such Award (determined at the time of the
Change in Control); and 
 (iv) Have terms and conditions which provide that in the event that the Participant’s employment is
involuntarily terminated or constructively terminated, any conditions on a Participant’s rights under, or any restrictions on transfer or exercisability applicable to, each such Alternative Award shall be waived or shall lapse, as the case may
be. 
 9. Additional Award Forfeiture Provisions. The Committee may provide in an Award Agreement that a Participant’s right to receive a
grant of an Award, to exercise the Award, to receive a settlement or distribution with respect to the Award or to retain cash, Stock, other Awards, or other property acquired in connection with an Award, shall be conditioned upon the
Participant’s compliance with specified conditions that protect the business interests of the Company and the Subsidiaries and Affiliates from harmful actions of the Participant, including, without limitation, conditions relating to
non-competition, confidentiality of information relating to or possessed by the Company, non-solicitation of customers, suppliers, and employees of the Company, cooperation in litigation, non-disparagement of the Company, the Subsidiaries and
Affiliates, and the officers and directors of the Company and the Subsidiaries and Affiliates, and other restrictions upon or covenants of the Participant, including during specified periods following Separation from Service with the Company.
Accordingly, an Award Agreement may include terms providing for a “clawback” or forfeiture from the Participant of the profit or gain realized by a Participant in connection with an Award, including cash or other proceeds received upon
sale of Stock acquired in connection with an Award. 
 10. General Provisions. 

(a) Compliance with Legal and Other Requirements. The Company may, to the extent deemed necessary or advisable by
the Committee, postpone the issuance or delivery of Stock or payment of other benefits under any Award until completion of such registration or qualification of such Stock or other required action under any federal or state law, rule or regulation,
listing or other required action with respect to any stock exchange or automated quotation system upon which the Stock or other securities of the Company are listed or quoted, or compliance with any other obligation of the Company, as the Committee
may consider appropriate. The Committee may require any Participant to make such representations, furnish such information and comply with or be subject to such other conditions as it may consider appropriate in connection with the issuance or
delivery of Stock or payment of other benefits in compliance with applicable laws, rules, and regulations, listing requirements, or other obligations. The terms and conditions of each Award granted shall comply with applicable banking laws and
regulations. Awards are subject to exercise or forfeiture upon the direction of the Federal Deposit Insurance Corporation if Square 1 Bank’s capital falls below applicable minimum regulatory requirements. 

(b) Limits on Transferability; Beneficiaries. 

(i) No Award or other right or interest of a Participant under the Plan shall be pledged, hypothecated or otherwise encumbered or subject to
any lien, obligation or liability of such Participant to any party (other than the Company or a Subsidiary or Affiliate thereof), or assigned or transferred by such Participant otherwise than by will or the laws of descent and distribution or to a
Beneficiary upon the death of a Participant, and such Awards or rights that may be exercisable shall be exercised during the lifetime of the Participant only by the Participant or his or her guardian or legal representative, except that, during a
Participant’s lifetime, Awards and other rights (other than ISOs) may be transferred to one or more of the following: 
 (A) the
Participant’s spouse, children (including adopted and step children) or grandchildren (including adopted and step grandchildren), parents, grandparents or siblings, 

  
 11 

 (B) a trust for the benefit of one or more of the Participant or the persons referred to in
clause (A), or 
 (C) a partnership, limited liability company or corporation in which the Participant or the Persons referred to in clause
(A) are the only partners, members or shareholders. 
 (ii) If a Participant has died and then or thereafter a payment or benefit
becomes distributable under an Award, such payment or benefit will be distributed to the Participant’s Beneficiary; provided, however, that an individual or trust will be deemed a Beneficiary only if he, she or it is surviving or in existence
on the date of death of the Participant and if the Participant has designated such individual or trust as a Beneficiary in his or her most recent written and duly filed Beneficiary designation (i.e., any new Beneficiary designation under the
Plan cancels a previously filed Beneficiary designation). If no Beneficiary is living or in existence at the time of Participant’s death, any subsequent payment or benefit will be distributable to the person or persons in the first of the
following classes of successive preference: 
 (A) widow or widower, if then living, 

(B) surviving children, equally, 

(C) surviving parents, equally, 

(D) surviving brothers and sisters, equally, 

(E) executors or administrators; and the term “Beneficiary” as used in the Plan shall include such individuals. This provision
applies to payments and benefits distributable upon vesting or after expiration of any mandatory or elective deferral period, and also to the right to exercise any Option or SAR during any period in which the Award is outstanding and exercisable.

 (iii) A Beneficiary, transferee, or other person claiming any rights under the Plan from or through any Participant shall be subject to
all terms and conditions of the Plan and any Award Agreement applicable to such Participant, except as otherwise determined by the Committee, and to any additional terms and conditions deemed necessary or appropriate by the Committee. 

(c) Adjustments. In the event that any large, special and non-recurring dividend or other distribution (whether in
the form of cash or property other than Stock), recapitalization, forward or reverse split, Stock dividend, reorganization, merger, consolidation, spin-off, combination, repurchase, share exchange, liquidation, dissolution or other similar corporate
transaction or event affects the Stock in such a way that an adjustment is appropriate or, in the case of any outstanding Award, which is necessary in order to prevent dilution or enlargement of the rights of the Participant, then the Committee
shall, in an equitable manner as determined by the Committee, adjust any or all of: 
 (i) the number and kind of shares of Stock that may be
delivered in connection with Awards granted thereafter, including the number of shares available under Section 4, 

  
 12 

 (ii) the number and kind of shares of Stock subject to or deliverable in respect of outstanding
Awards and 
 (iii) the exercise price, grant price or purchase price relating to any Award. 

(d) Tax Provisions. 

(i) Withholding. The Company and any Subsidiary or Affiliate is authorized to withhold from any Award or payment relating to an Award
under the Plan, including, without limitation, from a distribution of Stock, amounts of withholding and other taxes due or potentially payable in connection with such Award or payment, and to take such other action as the Committee may deem
advisable to enable the Company and Participants to satisfy obligations for the payment of withholding taxes and other tax obligations relating to any such Award or payment. This authority shall include authority to withhold or receive Stock or
other property and to make cash payments in respect thereof in satisfaction of a Participant’s withholding obligations, either on a mandatory or elective basis in the discretion of the Committee, or in satisfaction of other tax obligations.
Other provisions of the Plan notwithstanding, only the minimum amount of Stock deliverable in connection with an Award necessary to satisfy statutory withholding requirements will be withheld, unless withholding of any additional amount of Stock
will not result in additional accounting expense to the Company. 
 (ii) Required Consent to and Notification of Code Section 83(b)
Election. No election under Section 83(b) of the Code (to include in gross income in the year of transfer the amounts specified in Code Section 83(b)) or under a similar provision of the laws of a jurisdiction outside the United States
may be made unless expressly permitted by the terms of the Award Agreement or by action of the Committee in writing prior to the making of such election. In any case in which a Participant is permitted to make such an election in connection with an
Award, the Participant shall notify the Company of such election within ten (10) days of filing notice of the election with the Internal Revenue Service or other governmental authority, in addition to any filing and notification required
pursuant to regulations issued under Code Section 83(b) or other applicable provision. 
 (iii) Requirement of Notification Upon
Disqualifying Disposition Under Code Section 421(b). If any Participant shall make any disposition of shares of Stock delivered pursuant to the exercise of an ISO under the circumstances described in Code Section 421(b) (i.e., a
disqualifying disposition), such Participant shall notify the Company of such disposition within ten (10) days thereof. 
 (e)
Changes to the Plan. The Board may amend, suspend or terminate the Plan or the Committee’s authority to grant Awards under the Plan without the consent of stockholders or Participants; provided, however, that any
amendment to the Plan shall be submitted to the Company’s stockholders for approval not later than the earliest annual meeting for which the record date is at or after the date of such Board action if such stockholder approval is required by
any federal or state law or if such amendment would either: 
 (i) materially increase the number of shares reserved for issuance and
delivery under the Plan, 
 (ii) change the types of Awards available under the Plan, 

(iii) expand the class of persons eligible to receive Awards under the Plan, 

  
 13 

 (iv) extend the term of the Plan, or 

(v) decrease the exercise price at which Options may be granted. 

The Board may otherwise, in its discretion, submit other amendments to the Plan to stockholders for approval. The Committee is authorized to
amend outstanding Awards, except as limited by the Plan. The Board and Committee may not amend outstanding Awards (including by means of an amendment to the Plan) without the consent of an affected Participant if such an amendment would materially
and adversely affect the rights of such Participant with respect to the outstanding Award (for this purpose, actions that alter the timing of federal income taxation of a Participant will not be deemed material unless such action results in an
income tax penalty on the Participant, and any discretion that is reserved by the Board or Committee with respect to an Award is unaffected by this provision). 

Subject to Section 10(f), without the approval of stockholders, the Committee will not amend or replace previously granted Options or
SARs in a transaction that constitutes a “repricing,” which for this purpose means any of the following or any other action that has the same effect: 

(i) lowering the exercise price of an Option or SAR after it is granted; 

(ii) any other action that is treated as a repricing under generally accepted accounting principles; 

(iii) except as provided in Section 10(f), canceling an Option or SAR at a time when its exercise price exceeds the Fair Market Value of
the underlying Stock, in exchange for another Option or SAR, Restricted Stock, other equity, cash or other property; provided, however, that the foregoing transactions shall not be deemed a repricing if pursuant to an adjustment authorized under
Section 10(c). With regard to other terms of Awards, the authority of the Committee to waive or modify an Award term after the Award has been granted does not permit waiver or modification of a term that would be mandatory under the Plan for
any Award newly granted at the date of the waiver or modification. 
 (f) Option Exchange Program. Notwithstanding any
other provision of the Plan to the contrary, including but not limited to Section 10(e) hereof, the Company, by action of the Committee, may, not later than December 31, 2010, effect an option exchange offer program (the “Option
Exchange Program”), to be commenced through one or more option exchange offers, provided that in no event may more than one offer to exchange be made for any outstanding Option. Under any option exchange offer, Participants will be offered the
opportunity to exchange outstanding unexercised and unexpired Options granted under the Plan with an exercise price per share greater than $10.00 (the “old options”) for new options (the “replacement options”), as follows:
(i) a “value” for each old option shall be determined in accordance with a generally accepted option valuation method as of a date immediately prior to the commencement of any exchange offer; (ii) the Committee shall determine an
exchange ratio for the Option Exchange Program consistent with the old option value and the value (determined by reference to the same valuation method) of a new option granted on the same date with comparable terms pursuant to which (A) each
replacement option shall represent the right to purchase fewer shares of Stock than the shares underlying the old option, and (B) the per share exercise price of each replacement option shall be not less than the fair market value of a share of
Stock on the date of issuance of the replacement option; (iii) each old option or portion thereof that is fully vested shall be exchanged for a replacement option or portion thereof that is fully vested on the date of issuance, and each old
option or portion thereof that is unvested shall be exchanged for a replacement option or portion thereof that is unvested as of the date of such issuance will, unless otherwise determined by the Committee, vest on the date(s) the old option would
have vested in accordance with its terms; and (4) each replacement option shall have the same expiration date as the old option. All other material terms of each replacement option shall be substantially similar to the old option exchanged
therefor. Subject to the foregoing, the Committee shall be permitted to determine additional terms, restrictions or requirements relating to the Option Exchange Program. 

  
 14 

 (g) Unfunded Status of Awards; Creation of Trusts. The Plan is
intended to constitute an “unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant or obligation to deliver Stock pursuant to an Award, nothing contained in the Plan or any Award shall give any
such Participant any rights that are greater than those of a general creditor of the Company; provided that the Committee may authorize the creation of trusts and deposit therein cash, Stock, other Awards or other property, or make other
arrangements to meet the Company’s obligations under the Plan. Such trusts or other arrangements shall be consistent with the “unfunded” status of the Plan, unless the Committee otherwise determines with the consent of each affected
Participant. 
 (h) Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board nor its submission
to the stockholders of the Company for approval shall be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other incentive arrangements, apart from the Plan, as it may deem desirable. 

(i) Fractional Shares. No fractional shares of Stock shall be issued or delivered pursuant to the Plan or any
Award. The Committee shall determine whether cash, other Awards or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited or otherwise eliminated. 

(j) Limitation on Rights Conferred under Plan. Neither the Plan nor any action taken hereunder shall be construed
as (i) giving any Eligible Person or Participant the right to continue as an Eligible Person or Participant or in the employ or service of the Company or a Subsidiary or Affiliate, (ii) interfering in any way with the right of the Company
or a Subsidiary or Affiliate to terminate any Eligible Person’s or Participant’s employment or service at any time (subject to the terms and provisions of any separate written agreements), (iii) giving an Eligible Person or
Participant any claim to be granted any Award under the Plan or to be treated uniformly with other Participants and employees, or (iv) conferring on a Participant any of the rights of a stockholder of the Company unless and until the
Participant is duly issued or transferred shares of Stock in accordance with the terms of an Award. Except as expressly provided in the Plan and an Award Agreement, neither the Plan nor any Award Agreement shall confer on any person other than the
Company and the Participant any rights or remedies thereunder. Any Award shall not be deemed compensation for purposes of computing benefits under any retirement plan of the Company or any Subsidiary or Affiliate and shall not affect any benefits
under any other benefit plan under which the availability or amount of benefits is related to the level of compensation (unless required by applicable law, or by any such other plan or arrangement with specific reference to Awards under this Plan).

 (k) Severability; Entire Agreement. If any of the provisions of this Plan or any Award document is finally
held to be invalid, illegal or unenforceable (whether in whole or in part), such provision shall be deemed modified to the extent, but only to the extent, of such invalidity, illegality or unenforceability, and the remaining provisions shall not be
affected thereby; provided, that, if any of such provisions is finally held to be invalid, illegal, or unenforceable because it exceeds the maximum scope determined to be acceptable to permit such provision to be enforceable, such provision shall be
deemed to be modified to the minimum extent necessary to modify such scope in order to make such provision enforceable hereunder. The Plan and any Award Agreements contain the entire agreement of the parties with respect to the subject matter
thereof and supersede all prior agreements, promises, covenants, arrangements, communications, representations and warranties between them, whether written or oral with respect to the subject matter thereof. No rule of strict construction shall be
applied against the Company, the Committee, or any other person in the interpretation of any terms of the Plan, Award, or Award Agreement or other document relating thereto. 

  
 15 

 (l) Plan Effective Date and Termination. The Plan, reflecting the
amendment and restatement of the Prior Plan, is effective upon approval of the Plan by the affirmative votes of the holders of a majority of the voting securities of the Company present, or represented, and entitled to vote on the subject matter at
the duly held meeting of the Company’s stockholders coincident with or next following the date of Board approval of this Plan. Unless earlier terminated by action of the Board of Directors, the authority of the Committee to make grants under
the Plan will terminate on the date that is ten (10) years after the date upon which stockholders of the Company approved the Prior Plan and the Plan will remain in effect until such time as the Company has no further rights or obligations with
respect to outstanding Awards or otherwise under the Plan. 
 (m) Governing Law. The validity, construction, and
effect of the Plan, any rules and regulations relating to the Plan and any Award document shall be determined in accordance with the laws of the State of Delaware, without giving effect to conflict of law principles, and applicable provisions of
federal law. 
 (n) Prior Awards. With respect to Awards granted under the Prior Plan, the provisions of the
Prior Plan shall apply in the case of any dispute relating to the interpretation of a Participant’s rights under an Award made under the provisions of the Prior Plan in the event of any conflict between the Prior Plan and the amended and
restated Plan. 

  
 16Exhibit 10.3

 Exhibit 10.3 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of the 23rd day of March, 2011, by and between SQUARE 1
FINANCIAL, INC., a Delaware corporation (“Company”), SQUARE 1 BANK, a North Carolina chartered commercial bank (the “Bank”), and DOUGLAS H. BOWERS (“Executive”). 

RECITALS 
 WHEREAS,
Company and the Bank wish to employ Executive in positions of substantial responsibility; 
 WHEREAS, Company, the Bank and
Executive desire to enter into an employment agreement pursuant to the terms of this Agreement; 
 NOW, THEREFORE, in consideration
of the mutual promises of the parties hereto and for other good and valuable consideration, the receipt and adequacy whereof each party hereby acknowledges, Company, the Bank and Executive hereby agree as follows: 

1. DEFINITIONS: The following terms shall have the following meanings for all purposes of this Agreement: 

Base Salary means the annual base compensation specified in Section 4 below. 

Board means, unless otherwise indicated by the context, the Board of Directors of Company and the Board of Directors of the Bank. 

Cause means any of the reasons listed in Section 7(d) below for which this Agreement may be terminated or Executive may be
discharged prior to the end of the Term hereof. 
 Change of Control means and shall be deemed to have occurred upon the occurrence
of any of the following events. 
 (1) The acquisition by any “person” or “group” (as defined in or pursuant to Sections
13(d) and 14(d) of the Exchange Act) (other than Company, any Subsidiary or any Company or Subsidiary’s employee benefit plan), directly or indirectly, as “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of
securities representing fifty percent (50%) or more of either the then outstanding shares or the combined voting power of the then outstanding securities of Company or the Bank; 

(2) Either a majority of the directors of Company elected at Company’s annual stockholders meeting shall have been nominated for election
other than by or at the direction of the “incumbent directors” of Company, or the “incumbent directors” shall cease to constitute a majority of the directors of Company. The term “incumbent director” shall mean any
director who was a director of Company on the Effective Date and any individual who becomes a director of Company subsequent to the Effective Date and who is elected or nominated by or at the direction of at least majority of the then incumbent
directors; 

  
 1 

 (3) The consummation of (x) a merger, consolidation or other business combination of Company
with any other “person” or “group” (as defined in or pursuant to Sections 13(d) and 14(d) of the 1934 Act) or affiliate thereof, other than a merger or consolidation that would result in the outstanding common stock of Company
immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into common stock of the surviving entity or a parent or affiliate thereof) more than fifty percent (50%) of the outstanding common stock
of Company or such surviving entity or a parent or affiliate thereof outstanding immediately after such merger, consolidation or other business combination, or (y) a plan of complete liquidation of Company or the Bank or an agreement for the
sale or disposition of all or substantially all of Company’s or the Bank’s assets; or 
 (4) Notwithstanding the foregoing, a
Change of Control shall not occur with respect to any “person” (as defined herein) who (i) is a shareholder of Company as of the Effective Date or (ii) becomes a shareholder of Company or the Bank after the Effective Date of the
Agreement in connection with a sale of stock to such person by the Company or the Bank pursuant to a duly authorized resolution of the Company Board provided such person’s ownership interest after the sale is less than 50% of the Company’s
or the Bank’s outstanding shares. 
 Code means the Internal Revenue Code of 1986, as amended. 

Effective Date means the first day of the initial Term. 

Exchange Act means the Securities Exchange Act of 1934, as amended. 

Good Reason means the occurrence of any of the conditions listed in Section 7(f) below which is followed by the resignation of
Executive within twelve (12) months after such occurrence. 
 Protected Customer shall mean any person, business or entity who
or which: 
 (1) Was known by Executive to have purchased products or services from Company, the Bank or any Subsidiary other than the Bank
during the two-year period immediately preceding Executive’s last day of employment with the Bank; or 
 (2) Purchased products or
services from Company, the Bank or any Subsidiary other than the Bank during the two-year period immediately preceding Executive’s last day of employment with the Bank, and about whom Executive had access to confidential or proprietary
information during this period; or 
 (3) Was known by Executive to have received (during the one-year period prior to Executive’s last
day of employment with the Bank) but not yet acted upon a proposal by Company, the Bank or any Subsidiary other than the Bank for the purchase of products or performance of services. 

Release Agreement means the Release Agreement attached hereto as Exhibit A. 

Resignation for Good Reason means resignation by Executive in accordance with the provisions of Section 7(f) below. 

Restricted Period means the period ending twenty-four (24) months after Executive’s termination of employment. 

  
 2 

 Subsidiary means any corporation at least a majority of the stock of which is owned by
Company, either directly or through one or more other Subsidiaries, and any other entity controlled, directly or indirectly, by Company or any other Subsidiary. 

Term means the term of this Agreement specified in Section 3 below, including the initial term and any extended term pursuant to
Section 8(a) below. 
 Termination for Cause means discharge of Executive prior to the end of the Term in accordance with the
provisions of Section 7(d) below for any of the reasons listed therein. 
 Termination without Cause means discharge of
Executive prior to the end of the Term in accordance with the provisions of Section 7(e) below. 
 2. EMPLOYMENT:  

(a) During the Term, Executive shall serve as President and Chief Executive Officer of Company and the Bank, reporting to the Board. Executive
will perform all duties and have all powers associated with such positions as and as may be set forth in the Bylaws of Company or the Bank. In addition, Executive shall be responsible for establishing the business objectives, policies and strategic
plans of Company and the Bank in conjunction with the Board. Executive agrees that, during the Term, he will devote his full business time and energy to the business, affairs and interests of Company and the Bank and serve diligently and to the best
of his ability. Executive may serve as a director, trustee or officer of other corporations and entities, including without limitation charitable organizations, and engage in other activities to the extent those activities and services do not
inhibit the performance of Executive’s duties hereunder or, in the opinion of the Board, conflict with the business of Company, the Bank or any Subsidiary. 

(b) As soon as practicable after the Effective Date, the Board of Directors of Company and the Board of Directors of Bank shall take such
action as may be necessary to appoint Executive as a member of each Board. Notwithstanding anything in this Agreement to the contrary, unless otherwise agreed to by the parties, Executive shall be deemed to have resigned as a director of Company and
the Bank effective immediately after termination of Executive’s employment, regardless of whether the Executive submits a formal, written resignation as director. 

(c) References in this Agreement to services rendered for Company and compensation, benefits, indemnification and liability insurance payable
or provided by Company shall include services rendered for and compensation, benefits, indemnification and liability insurance payable or provided by the Bank and any Subsidiary other than the Bank, and references in this Agreement to “ Company
“ shall mean and include the Bank and any Subsidiary other than the Bank if Executive performs any services therefor, as the context may require. 
 3.
TERM: The initial term of this Agreement shall be for the period beginning on March 23, 2011 and continuing through and including March 23, 2014, subject, however, to earlier termination in the manner provided in this
Agreement. Commencing as of the first anniversary of the Effective Date and continuing as of each anniversary of the Effective Date thereafter, the disinterested members of the Board may, in the sole discretion of the Board, extend the Agreement
term for an additional year, so that the remaining term of the Agreement again becomes thirty-six (36) full months from the applicable anniversary of the Effective Date, unless the Executive elects not to extend the term of this Agreement by
giving written notice at least thirty (30) days prior to the applicable anniversary date. Notwithstanding the foregoing, the term of this Agreement shall be extended pursuant to Section 8(a) below upon the occurrence of a Change of
Control. 

  
 3 

 4. BASE SALARY; INCENTIVE COMPENSATION: 

(a) Executive shall receive an annual Base Salary at the rate of $450,000, payable in substantially equal installments no less frequently than
monthly (less any amounts withheld as required by law or pursuant to any benefits plan). At least annually, Company shall review and, in its sole discretion, may increase, Executive’s Base Salary. If Executive’s Base Salary is increased by
Company, such increased Base Salary shall then constitute the Base Salary for all purposes of this Agreement. 
 (b) Executive will be
entitled to participate in any incentive compensation, bonus plans or arrangements of the Company on the same terms as other senior officers. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of other
compensation to which Executive is entitled under this Agreement. For the 2011 calendar year, Executive shall have a target cash bonus opportunity of $300,000 under the terms of any cash incentive program approved by the Board for such year;
provided, however, that any cash bonus paid for 2011 shall be prorated to reflect Executive’s actual period of employment in 2011. 

(c) Upon the Effective Date, Executive shall be granted stock options to acquire 200,000 shares of Company common stock, subject to the terms
and conditions of Company’s 2009 Stock Incentive Plan. Such options shall vest in equal installments (40,000 per year) over a five (5) year period with the first vesting to occur on the first anniversary of the Effective Date. The exercise
price of the options shall be equal to the fair market value of the stock as determined in accordance with the applicable provisions of the 2009 Stock Incentive Plan. 

5. EMPLOYEE BENEFITS AND REIMBURSEMENTS:  

(a) During the Term, Executive shall participate in any retirement, group insurance, hospitalization, incentive or deferred compensation and
other benefit or compensation plans of the Bank presently in effect or hereafter adopted and generally available to all Company’s senior officers, subject to the terms and conditions specified in such plans. Executive shall also be entitled to
any additional compensation, benefits or perquisites, if any, that may be provided specifically to or for Executive by Company or the Bank from time to time. During the Term, to the extent provided by corporate policies, Executive shall be
reimbursed for expenditures (including travel, entertainment, parking and business meetings) made in pursuance and furtherance of the business and good will of Company. Without limiting the foregoing, upon presentation of reasonable documentation,
Company will pay up to $5,000 for a review of this Agreement by Executive’s legal counsel. 
 (b) Executive’s principal place of
employment will be at the Bank’s headquarters in Durham, North Carolina. During his first twelve (12) months of employment, the Bank will make a Bank-leased apartment in Durham available for Executive’s use while performing his
duties. Such use will be treated as a taxable benefit to Executive to the extent required by applicable law. The Bank, Company and Executive agree that it may be desirable for the Candidate to relocate his principal residence to a location within
thirty (30) miles from the Bank’s headquarters office (the “headquarters area”). If Executive voluntarily relocates his principal residence to the headquarters area within his first eighteen (18) months of employment, he
will receive a $100,000 gross relocation expense allowance. During the period beginning on the first anniversary of the Effective Date and continuing for thirty (30) days thereafter, the Board of Company may, in its sole discretion, request
that Executive relocate his principal residence to the headquarters area as a condition of his continued employment, in which case Executive will also receive a $100,000 gross relocation expense allowance if such relocation is completed within
eighteen (18) months of the Effective Date. 

  
 4 

 (c) Vacation and Leave. Executive will be entitled to not less than four
(4) weeks paid vacation leave each year during the term of this Agreement, as well as sick leave, holidays and other paid absences in accordance with the Bank’s policies and procedures for senior officers. 

6. INDEMNIFICATION: 
 (a) Company,
the Bank and any Subsidiary other than the Bank for which Executive provides services shall indemnify and hold Executive harmless from and against all liability and expense resulting from (1) all acts or omissions of Executive while acting in
the capacity of a director, officer, trustee, or fiduciary and/or employee of Company, the Bank and any such Subsidiary during Executive’s employment as such director, officer, and/or employee and (2) acts or omissions of Company, the Bank
and any such Subsidiary occurring or alleged to have occurred during or prior to Executive’s employment, on terms and conditions no less favorable to Executive than the terms and conditions providing for indemnification of officers and
directors under the Articles or Certificate of Incorporation and the Bylaws of Company, the Bank charter and each such Subsidiary’s governing documents. 

(b) The Bank shall carry directors and officers liability insurance in such amounts as the Bank in its discretion deems appropriate, and any
payments made under such policy to Executive or on Executive’s behalf shall be offset against the indemnification obligation set forth in Section 6(a). 

(c) Notwithstanding the foregoing, the indemnification provided by Section 6(a) shall not apply, and Executive shall not be indemnified,
with respect to any acts or omissions which constitute wanton or willful misconduct or willful gross negligence. The indemnity obligation set forth in this Section 6 shall be subject to the prohibitions and limitations established by applicable
law and as set forth in applicable regulations adopted by any federal or state bank regulatory agency having jurisdiction over Company, the Bank or any Subsidiary other than the Bank for which Executive performs services. 

(d) The provisions of this Section 6 shall survive termination of this Agreement. 

7. TERMINATION: Executive’s employment under this Agreement may be terminated under any of the following conditions. 

(a) Disability: If Executive is unable to perform the essential functions of Executive’s positions on a full-time basis for a
period of six (6) consecutive months (or for such shorter period ending with Executive’s eligibility for and receipt of long-term disability benefits under an insurance policy or employee benefit plan provided or made available to
Executive by Company) by reason of illness or other physical or mental disability, Company shall have the right to terminate Executive’s employment under this Agreement at the end of the applicable period by written notice thereof. If
Executive’s employment is so terminated, Executive shall be paid any salary and benefits to which Executive may be entitled until the end of the payroll period in which the date of termination occurs, and thereafter, Company shall have no
further obligation for additional compensation and benefits under this Agreement. A condition of disability shall be determined by Company on the basis of competent evidence. A written opinion of a licensed physician certified in his field of
specialization and acceptable to Company, or Executive’s entitlement to or receipt of long-term disability benefits under any insurance policy or employee benefit plan provided or made available to Executive by Company or under federal Social
Security law, shall be conclusive evidence of disability. 
 (b) Death: In the event of Executive’s death during the Term,
Executive’s estate, legal representatives or named beneficiaries (as directed by Executive in writing) shall be paid Base Salary at the rate in effect at the time of Executive’s death for a period of one (1) month after the date of
Executive’s death and shall be paid for any accrued and unused paid time off. Such additional compensation and accrued and unused paid time off shall be paid in a single lump sum within thirty (30) days from Executive’s date of death.

  
 5 

 (c) Resignation By Executive: Upon thirty (30) days prior notice, Executive may
resign or voluntarily leaves the employ of Company, other than under circumstances treated as Resignation for Good Reason. In the event of Executive’s resignation under this Section 7(c), Executive shall be paid any accrued and unpaid
salary and accrued and unused paid time off through his date of resignation. 
 (d) Termination For Cause: Company may, in its sole
discretion, by written notice to Executive, terminate Executive’s employment immediately for Cause upon the occurrence of any of the following: 

(1) Executive’s willful failure to follow or to cooperate in carrying out any of the lawful policies of Company or the Bank or the lawful
directions of the Board; 
 (2) Continued and willful neglect by Executive of Executive’s duties for or on behalf of Company, the Bank
or any Subsidiary other than the Bank for which Executive provides services; 
 (3) Willful misconduct of Executive in connection with the
performance of any of Executive’s duties, including, by way of example, but not limitation, misappropriation of funds or property of Company, the Bank or a Subsidiary other than the Bank or a depositor therein or borrower therefrom, or securing
or attempting to secure personally any profit in connection with any transaction entered into on behalf of Company, the Bank or Subsidiary other than the Bank to the prejudice of the Bank or its Subsidiaries; 

(4) Conduct by Executive which results in Executive’s suspension and/or temporary prohibition or removal and/or permanent prohibition
from participation in the conduct of the affairs of Company, the Bank or any Subsidiary other than the Bank pursuant to the rules and regulations of the primary federal or state banking agency for Company, the Bank or the other Subsidiary or any
other federal or state banking agency having regulatory jurisdiction over Company, the Bank or the other Subsidiary; 
 (5) Conviction of
Executive of a felony (other than a motor vehicle-related felony) or any misdemeanor involving moral turpitude or Executive’s willful violation of any law, rule or regulation to which Company, the Bank or other Subsidiary for which Executive
performs services is subject or of a final order or other formal administrative action entered into, by or imposed upon Company, the Bank or any such Subsidiary; 

(6) Willful violation of any code of conduct or standards of ethics applicable to employees of Company or the Bank that results in material
and demonstrable damage to the business or reputation of Company or the Bank; 
 (7) The issuance of a permanent injunction or similar
remedy against Executive preventing Executive from executing or performing all or part of this Agreement; or 
 (8) Failure to relocate his
principal residence at the request of the Board at the time and in the manner set forth in Section 5(b) of this Agreement 
 If Executive’s
employment is Terminated for Cause or Company has Cause for termination and Executive voluntarily resigns, Executive shall not be entitled to any further compensation or benefits under this Agreement other than payment for any accrued and unused
paid time off. 

  
 6 

 Notwithstanding anything herein to the contrary, except as “willful” may be otherwise defined by the
rules and regulations of the primary federal or state banking agency for the Bank for which Executive performs services or any other federal or state banking agency having regulatory jurisdiction over the Bank for which Executive performs services,
(x) no act or failure to act on Executive’s part shall be considered “willful” unless done, or omitted to be done, by Executive in bad faith and without reasonable belief that Executive’s action or omission was in the best
interest of Company or the Bank for which Executive performs services, and (y) no failure to act on Executive’s part shall be considered “willful” if such failure is a result of a condition of disability within the meaning of
Section 7(a) of this Agreement. Executive shall not be deemed to have been Terminated for Cause under this Agreement unless and until there is delivered to Executive a copy of a resolution adopted at a meeting of the Company Board called and
held for the purpose, which resolution shall (x) contain findings that Executive has committed an act constituting Cause, and (y) specify the particulars thereof. The resolution of the Board shall be deemed to have been duly adopted if and
only if it is adopted by the affirmative vote of a majority of the directors then in office, excluding Executive. Notice of the meeting and the proposed termination for Cause shall be given to Executive a reasonable time before the meeting of the
Board. Executive and Executive’s counsel (if the Executive chooses to have counsel present) shall have a reasonable opportunity to be heard by the Board at the meeting. 

(e) Termination Without Cause: Company may, in its sole discretion, by written notice to Executive terminate Executive’s
employment under this Agreement immediately without Cause at any time (other than following a Change of Control, in which case a termination without Cause is governed by Section 8 of this Agreement). In the event of such termination:
(i) Executive shall be paid any accrued and unused paid time off as of the date of termination, and (ii) Executive shall continue to be paid, during the twelve (12) months that follow the date of termination, the Base Salary that
Executive is entitled to receive as of the date Executive is Terminated without Cause. Nothing in this Section shall affect Executive’s rights to receive any benefit which has been earned but not paid with respect to Executive’s
performance prior to the date of such termination. The payment of the twelve (12) months of Base Salary described in this Section 7(e) shall be contingent upon Executive’s executing the Release Agreement within thirty (30) days
after the date of such termination, not revoking the Release Agreement, and complying with the terms of the Release Agreement. The payments described in this Section 7(e) will be due Executive regardless of any subsequent employment attained by
Executive which is not in violation of this Agreement or the Release Agreement. 
 (f) Resignation For Good Reason: 

(1) Executive may Resign for Good Reason upon the occurrence of any of the following conditions without Executive’s prior written consent:

 (A) a material change in Executive’s positions, authority and responsibilities relative to his positions, authority and
responsibilities at the Effective Date; 
 (B) a liquidation or dissolution of Company or the Bank, other than liquidations or dissolutions
that are caused by reorganizations that do not affect the status of Executive; 
 (C) a reduction in Executive’s Base Salary; 

(D) a relocation of Executive’s principal place of employment by more than thirty-five (35) miles from its location as of the
Effective Date; or 
 (E) a material breach of this Agreement by Company or the Bank. 

  
 7 

 (2) Resignation for Good Reason shall be effected by delivering to Company, within twelve
(12) months after the occurrence of one of the conditions described above, a written notice specifying a date for termination of employment (a) which is not less than thirty (30) days after the date of the notice, and (b) which
is not more than ninety (90) days after the date of the notice. The notice shall also state that Executive is resigning for Good Reason as contemplated by this Section 7(f) and shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for Resignation for Good Reason hereunder. If within the notice period, Company cures or corrects any circumstances providing a basis for Resignation for Good Reason pursuant to Sections 7(f)(1)(A) or
(E) only, Executive shall not be entitled to Resign for Good Reason. 
 (3) If Executive Resigns for Good Reason at any time after the
date of this Agreement (other than a Resignation for Good Reason during the Term after a Change of Control, which shall be governed by Section 8 below), then Executive shall be paid any accrued and unused paid time off as of the date of
Executive’s termination of employment, and Executive shall continue to be paid, during the twelve (12) months that follow the date of Executive’s termination of employment, the Base Salary that Executive is entitled to receive as of
the date of the notice announcing Executive’s resignation; provided that nothing in this Section 7(f) shall affect Executive’s rights to receive any benefit which has been earned but not paid with respect to Executive’s
performance prior to the date of termination. The payment of the twelve (12) months of Base Salary described in this Section 7(f) shall be contingent upon Executive’s executing the Release Agreement within thirty (30) days after
the date of such termination, not revoking the Release Agreement, and complying with the terms of the Release Agreement. The payments described in this Section 7(f) will be due Executive regardless of any subsequent employment attained by
Executive which is not in violation of this Agreement or the Release Agreement. 
 8. CHANGE OF CONTROL: Notwithstanding the preceding
provisions of this Agreement, upon the occurrence of a Change of Control, the following provisions shall apply: 
 (a) The Term shall be
extended to a period of one (1) year after the date on which the Change of Control occurs if the remaining Term as of the Change of Control effective date is less than one (1) year. 

(b) If, during the Term, as extended pursuant to Section 8(a), either Executive’s employment is Terminated without Cause or
Executive Resigns for Good Reason, in either case, Company shall provide to Executive the following severance benefits: 
 (1) Company shall
pay to Executive, in lieu of the compensation specified in Sections 7(e) or 7(f), a severance payment (subject to any applicable payroll or other taxes required to be withheld) equal to three (3) times the sum of (i) Executive’s Base
Salary at the rate then in effect, or if greater, in effect immediately preceding the Change of Control and (ii) the average of the cash bonuses paid or accrued on Executive’s behalf with respect to the three (3) completed calendar
years preceding the effective date of the Change of Control (or, if Executive has not been employed for three (3) years, the average of the completed calendar years in which Executive was employed). Company’s obligation to make the
severance payment shall be contingent upon Executive’s executing the Release Agreement within sixty (60) days after the date of such termination, not revoking the Release Agreement, and complying with the terms of the Release Agreement.

 (2) Company shall pay to Executive in a lump sum on or before Executive’s last day of employment the amount of Executive’s
accrued and unused paid time off determined on the basis of his Base Salary then in effect, or if greater, in effect immediately preceding the Change of Control. 

  
 8 

 (3) The payments described in this Section 8 shall be due Executive regardless of any
subsequent employment obtained by Executive. 
 (c) In the event that the aggregate payments or benefits to be made or afforded to Executive
in the event of a Change of Control (whether under this Agreement or otherwise) would be deemed to include an “excess parachute payment” under Code Section 280G or any successor thereto, then such payments or benefits shall be reduced
to the extent necessary to avoid treatment as an “excess parachute payment”, with the reduction among such payments and benefits to be made first to payments and benefits payable or provided under this Agreement. 

9. NONCOMPETITION, NONSOLICITATION AND NONDISCLOSURE: 

(a) Executive hereby covenants and agrees that, for a period of two (2) years following his termination of employment for any reason, he
shall not, without the written consent of Company, either directly or indirectly: 
 (i) become an officer, employee, consultant, director,
independent contractor, agent, joint venturer, partner or trustee of any business whatsoever that competes with the business of Company, the Bank or any Subsidiary other than the Bank in the United States. 

(ii) solicit, offer employment to, or take any other action intended (or that a reasonable person acting in like circumstances would expect)
to have the effect of causing any officer or employee of Company, the Bank or any Subsidiary other than the Bank to terminate his employment and accept employment or become affiliated with, or provide services for compensation in any capacity
whatsoever to, any business whatsoever that competes with the business of Company, the Bank or any Subsidiary other than the Bank in the United States; or 

(iii) solicit, provide any information, advice or recommendation or take any other action intended (or that a reasonable person acting in like
circumstances would expect) to have the effect of causing any Protected Customer to terminate an existing business or commercial relationship with Company, the Bank or any Subsidiary other than the Bank. 

(iv) For purposes of this Section 9(a), a business that “competes with the business of Company, the Bank or any Subsidiary other
than the Bank” shall mean a depository financial institution or venture debt fund engaged in the solicitation and acceptance of deposits of money and commercial paper from the venture capital markets and venture financed portfolio companies,
the solicitation and funding of loans and the provision of other banking services to the venture capital markets and venture financed portfolio companies, and any other business engaged in by Company or the Bank as of Executive’s termination of
employment which is related specifically to the venture capital markets. 
 (b) During the Term and thereafter, Executive shall hold in a
fiduciary capacity for the benefit of Company and its Subsidiaries all secret or confidential information, knowledge or data relating to Company and its Subsidiaries and their respective businesses, which shall have been obtained by Executive during
Executive’s employment by Company, the Bank and any Subsidiary other than the Bank and which shall not be or become public knowledge (other than by acts by Executive or representatives of Executive in violation of this Agreement). Executive
shall not, without the prior written consent of as applicable, Company, the Bank and such other Subsidiary or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than
Company, the Bank and such other Subsidiary and those designated by them. After the end of the Restricted Period, the existence and identity of the customers and employees of Company, the Bank, and any Subsidiaries other than the Bank shall not
constitute secret or confidential information, knowledge or data. 

  
 9 

 (c) During any period in which Section 9(a) is effective, Section 9(a) shall not
preclude Executive from holding any publicly traded stock provided Executive does not acquire any stock interest in any one company in excess of one percent (1%) of the outstanding voting stock of that company. 

(d) The parties agree that the restrictions contained in this Section 9 are reasonable and fair. If Executive competes in violation of
the terms of this Section 9, the parties agree that Company will be irreparably harmed without an adequate remedy at law. Accordingly, Executive acknowledges that if he breaches or threatens to breach any provision of this Section 9,
Company shall be entitled to an injunction, both preliminary and permanent, restraining Executive from such breach or threatened breach, but such injunctive relief shall not preclude Company from pursuing all other legal or equitable remedies
arising out of such a breach. 
 10. REFORMATION: The parties have attempted to limit Executive’s right to compete only to the extent
necessary to protect Company, the Bank and Subsidiaries other than the Bank from unfair competition. The parties recognize, however, that reasonable people may differ in making such a determination. Consequently, the parties hereby agree that, if
the scope or enforceability of a restrictive covenant set forth in Section 9 is in any way disputed at any time, a court or other trier of fact may modify and reform such provision to substitute such other terms as are reasonable to protect the
legitimate business interests of Company, the Bank and Subsidiaries other than the Bank. 
 11. NOTICES: For the purposes of this Agreement,
notices or other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when hand delivered to the party to whom directed or mailed by United States certified mail, return receipt requested,
postage prepaid, addressed to such party at such party’s address last known by the party giving such notice. Each party may, from time to time, and shall, upon request of another party, designate an address to which notices should be sent.
Notices of change of address shall be effective only upon receipt. 
 12. MODIFICATION; WAIVERS; APPLICABLE LAW: No provisions of this
Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing, signed by Executive, and on behalf of Company, by such officers as may be specifically designated by Company. No waiver of any
breach, condition or provision of this Agreement by any party hereto at any time shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or
otherwise, express or implied, with respect to the subject matter hereof have been made by any party which are not set forth expressly in this Agreement. The validity, interpretation, construction and performance of this Agreement shall be governed
by the laws of North Carolina, except to the extent that federal applies. 
 13. INVALIDITY—ENFORCEABILITY: The invalidity or
enforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. Any provision in this Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without invalidating or affecting the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 14. SUCCESSOR
RIGHTS: This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees, and shall be binding upon
Company and any successor to Company. If Executive should die while any amounts would still be payable to Executive hereunder all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to
Executive’s devisee, legatee or other designee or, if there is no such designee, to Executive’s estate. 

  
 10 

 15. ATTORNEY’S FEES: In the event that either party incurs costs and fees, including
attorney’s fees, in enforcing its rights under this Agreement, the party substantially prevailing in such suit or action including any appeal shall be entitled to recover from the other all such costs and reasonable attorney’s fees. 

16. EFFECT OF FEDERAL BANKING STATUTES AND REGULATIONS: Notwithstanding anything herein contained to the contrary, any payments to Executive by
the Employer whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and the regulations promulgated
thereunder in 12 C.F.R. Part 359. In addition, Executive agrees that this Agreement is subject to amendment at any time in order to comply with laws that are applicable to Company and the Bank (including regulations and rules relating to any
governmental program in which Company or the Bank may participate). 
 17. HEADINGS: Descriptive headings contained in this Agreement are for
convenience only and shall not control or affect the meaning or construction of any provision hereof. 
 18. EFFECT ON PRIOR AGREEMENTS: This
Agreement supersedes all prior agreements, either expressed or implied, between the parties hereto with respect to the employment of Executive. 
 19.
INTERNAL REVENUE CODE SECTION 409A/CONTINUATION OF BENEFITS/REIMBURSEMENTS: This Agreement is intended to and shall comply with Section 409A of the Code. All references to a termination of employment and separation from service
shall mean and be administered to comply with the definition of “separation from service” in Section 409A of the Code. All reimbursements provided under this Agreement shall comply with Section 409A of the Code and shall be
subject to the following requirements: 
 (a) The amount of expenses eligible for reimbursement, during Executive’s taxable year may not
affect the expenses eligible for reimbursement to be provided in another taxable year, and 
 (b) The reimbursement of an eligible expense
must be made by December 31 following the taxable year in which the expense was incurred. The right to reimbursement is not subject to liquidation or exchange for another benefit. 

If Executive is a “specified employee” (as defined under Section 409A of the Code) at the time of separation from service, to the extent that
any amount payable under this Agreement constitutes “deferred compensation” under Section 409A of the Code (and is not otherwise excepted from Section 409A of the Code coverage by virtue of being considered “separation
pay” or a “short term deferral” or otherwise) and is payable to Executive based upon a separation from service (other than death or “disability” as defined under Section 409A of the Code), such amount shall not be paid
until the first day following the six (6) month anniversary of Executive’s separation from service. Any right to a series of installment payments shall be treated as a right to a series of separate payments for purposes of
Section 409A of the Code. Payment of any accrued and unused paid time off, unless expressly provided otherwise herein shall be made in a single lump sum within thirty (30) days of separation from service. 

  
 11 

 20. Arbitration of Disputes: Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by binding arbitration, as an alternative to civil litigation and without any trial by jury to resolve such claims, conducted by a single arbitrator who is certified by the American Arbitration Association and
is mutually acceptable to Executive and Company, sitting in a location selected by the Employer within fifty (50) miles from the main office of the Employer, in accordance with the rules of the American Arbitration Association’s National
Rules for the Resolution of Employment Disputes then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. 

21. Counterparts: This Agreement may be executed in counterparts. 

  
 12 

 IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date
first above written. 
  

			
	SQUARE 1 FINANCIAL, INC.
		
	By:	 	/s/ Robert S. Muehlenbeck
	
	SQUARE 1 BANK
		
	By:	 	/s/ Robert S. Muehlenbeck
	
	/s/ Douglas H. Bowers
	Douglas H. Bowers

  
 13 

 Douglas H. Bowers 

Employment Agreement 

First Amendment 

WHEREAS, Square 1 Bank, a North Carolina chartered commercial bank (the “Bank”) and Square 1 Financial, Inc., a Delaware
corporation (the “Company”) have previously entered into an employment agreement (the “Agreement”) with Douglas H. Bowers (the “Executive”); and 

WHEREAS, the Bank, the Company and the Executive have determined that certain modifications to the Agreement are necessary and
appropriate; 
 NOW, THEREFORE, in consideration of the mutual covenants herein contained, and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Bank, the Company and the Executive hereby amend the Agreement as follows: 

First Change 

Section 3 is hereby amended to read as follows: 

“3. TERM: The initial term of this Agreement commenced on March 23, 2011. The current term of this Agreement shall be
for the period beginning on April 1, 2013 and continuing through April 1, 2016, subject, however, to earlier termination in the manner provided in this Agreement. Commencing April 1, 2014, and continuing on each April 1
thereafter during the term of the Agreement, the disinterested members of the Board may, in the sole discretion of the Board, extend the Agreement term for an additional year, so that the remaining term of the Agreement again becomes thirty-six
(36) full months, unless the Executive elects not to extend the term of this Agreement by giving written notice at least thirty (30) days prior to the applicable anniversary date. Notwithstanding the foregoing, the term of this Agreement
shall be extended pursuant to Section 8(a) below upon the occurrence of a Change of Control.” 
 Second Change 

Section 4(b) is hereby amended to read as follows: 

“(b) Executive will be entitled to participate in any incentive compensation, bonus plans or arrangements of the Company on the same terms
as other senior officers of Company and the Bank and subject to the terms and conditions of the incentive compensation or bonus program then in effect. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of
other compensation to which Executive is entitled under this Agreement. For 2013 only, Executive shall have a target incentive compensation opportunity equal to one hundred (100) percent of his base salary under the terms of, and subject to,
the Corporate Incentive Plan as in effect for the 2013 plan year, with the actual incentive compensation award, if any, to be as determined by the Company’s Compensation Committee in its sole discretion, and to be payable sixty
(60) percent in cash and forty (40) percent in equity.” 

 Third Change 

Section 7(e) is hereby amended to read as follows: 

“(e) Termination Without Cause: Company may, in its sole discretion, by written notice to Executive terminate Executive’s
employment under this Agreement immediately without Cause at any time (other than following a Change of Control, in which case a termination without Cause is governed by Section 8 of this Agreement). In the event of such termination:
(i) Executive shall be paid any accrued and unused paid time off as of the date of termination, and (ii) Executive shall continue to be paid, during the twenty four (24) months that follow the date of termination, the Base Salary that
Executive is entitled to receive as of the date Executive is Terminated without Cause. Nothing in this Section shall affect Executive’s rights to receive any benefit which has been earned but not paid with respect to Executive’s
performance prior to the date of such termination (and for the avoidance of doubt, any bonus under the Company’s corporate incentive plan is not considered to any extent earned or accrued until the date any such bonus is approved by the
Company’s Compensation Committee). The payment of the twenty four (24) months of Base Salary described in this Section 7(e) shall be contingent upon Executive’s executing the Release Agreement within thirty (30) days after
the date of such termination, not revoking the Release Agreement, and complying with the terms of the Release Agreement. The payments described in this Section 7(e) will be due Executive regardless of any subsequent employment attained by
Executive which is not in violation of this Agreement or the Release Agreement.” 
 Fourth Change 

Subparagraph (3) of Section 7(f) is hereby amended to read as follows: 

“(3) If Executive Resigns for Good Reason at any time after the date of this Agreement (other than a Resignation for Good Reason during
the Term after a Change of Control, which shall be governed by Section 8 below), then Executive shall be paid any accrued and unused paid time off as of the date of Executive’s termination of employment, and Executive shall continue to be
paid, during the twenty four (24) months that follow the date of Executive’s termination of employment, the Base Salary that Executive is entitled to receive as of the date of the notice announcing Executive’s resignation; provided
that nothing in this Section 7(f) shall affect Executive’s rights to receive any benefit which has been earned but not paid with respect to Executive’s performance prior to the date of termination (and for the avoidance of doubt, any
bonus under the Company’s corporate incentive plan is not considered to any extent earned or accrued until the date any such bonus is approved by the Company’s Compensation Committee). The payment of the twenty four (24) months of
Base Salary described in this Section 7(f) shall be contingent upon Executive’s executing the Release Agreement within thirty (30) days after the date of such termination, not revoking the Release Agreement, and complying with the
terms of the Release Agreement. The payments described in this Section 7(f) will be due Executive regardless of any subsequent employment attained by Executive which is not in violation of this Agreement or the Release Agreement. 

Fifth Change 

Section 19(b) is hereby amended by adding the following new paragraph thereto: “Notwithstanding anything in this Agreement to the
contrary, for purposes of the period specified in this Agreement relating to the timing of Executive’s execution of a release of claims as a condition of the Bank’s obligation to pay severance, if such period would begin in one taxable
year and end in a second taxable year, any payment otherwise due Executive upon execution of the release of claims shall be made in the second taxable year and without regard to when the release of claims was executed or became irrevocable.”

  
 2 

 *    *    * 

In all other respects, the parties hereby ratify and affirm the terms of the Agreement. 

IN WITNESS WHEREOF, the Bank and the Company have caused this Amendment to be executed by duly authorized officers, and the Executive
has signed this Amendment, on the 29th day of April, 2013. 
  

			
	SQUARE 1 BANK
		
	By:	 	 /s/ Robert S. Meuhlenback

	Name: Robert S. Muehlenbeck
	Title: Director
	
	SQUARE 1 FINANCIAL, INC.
		
	By:	 	 /s/ Robert S. Meuhlenback

	Name: Robert S. Muehlenbeck
	Title: Chairman of the Board
	
	 /s/ Douglas H. Bowers

	Douglas H. Bowers

  
 3

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