Document:

Waiver Agreement

 Exhibit 10.2(a) 
 WAIVER AGREEMENT 
 This Waiver Agreement (“Waiver Agreement”) is entered into on
August 18, 2006, by and between PLACER SIERRA BANK, a California banking corporation (the “Bank”), and FRANK J. MERCARDANTE (“Executive”). 
 WHEREAS, Executive and the Bank’s predecessor Southwest Community Bank (“Southwest”) entered into an Employment Agreement (the “Employment Agreement”), dated November 7, 2005, as
amended April 19, 2006; 
 WHEREAS, Executive and Southwest entered into an Executive Supplemental Compensation Agreement (the
“Supplemental Agreement”), dated October 17, 2001, as amended April 19, 2006; 
 WHEREAS, among other benefits,
Section F.8(c)(iv) of the Employment Agreement provides for Southwest to pay Executive salary continuation of his base salary (the “Severance Payments”) for thirty-six (36) months following the termination of Executive’s
employment with Southwest in conjunction with a change in control of Southwest; 
 WHEREAS, among other benefits, Section 5.4 of
the Supplemental Agreement provides for Southwest to pay Executive monthly payments for Executive’s lifetime (the “SERP Payments”) commencing with the month following the termination of Executive’s employment with Southwest in
conjunction with a change in control of Southwest; 
 WHEREAS, a change in control of Southwest occurred on June 9, 2006, and in
connection therewith the Bank has succeeded to the rights and obligations of Southwest under the Employment Agreement and the Supplemental Agreement; 
 WHEREAS, Executive’s employment with Southwest terminated on June 9, 2006; 
 WHEREAS, Executive is willing to waive portions of the Severance Payments and the SERP Payment; 
 NOW THEREFORE, in
consideration of the mutual promises and agreements contained herein, the adequacy and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Executive and the Bank agree as follows: 
 1. The amount of the Severance Payments based upon Executive’s annual base salary with Southwest of $320,000 immediately prior to the change in
control and employment termination would be $26,666.67 per month for thirty-six (36) months. Executive hereby expressly waives his rights to receive $5,116.67 of such amount per month. The Bank agrees to pay the $21,550 per month balance of the
Severance Payments in accordance with the provisions of the Employment Agreement. 
 2. Executive hereby expressly waives his rights to
receive any and all of the monthly SERP Payments that otherwise would be made to him prior to the month following the month in which he attains age 62 years. No adjustment shall be made to the monthly amount of the SERP 

 Payments and no extension shall be made to the term over which the SERP Payments are to be paid as a result of this
Waiver Agreement. 
 3. Executive and the Bank believe that, following the waiver of benefits set forth herein, Executive will not receive
any payments or other benefits in connection with the change in control of Southwest that would constitute “excess parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the
“Code”). However, in the event that Executive determines that the Internal Revenue Service may impose an excise pursuant to section 4999 of the Code (the “Excise Tax”) on amounts received or receivable in connection with the
change in control of Southwest, then at Executive’s direction the Bank shall further reduce the Severance Payments by, and/or Executive shall repay to the Bank, such amount as Executive determines to be necessary to cause the payments and other
benefits received by Executive in connection with the change in control of Southwest not to give rise to any Excise Tax. 
 4. The Employment
Agreement and the Supplemental Agreement shall not otherwise be affected by this Waiver Agreement. 
 5. The validity, interpretation,
construction and performance of this Waiver Agreement shall be governed by the laws of the State of California. 
 6. This Waiver Agreement
may be executed in several counterparts, each of which shall be deemed to an original but all of which together shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, the Bank and Executive have executed this Waiver Agreement on and effective as of August 18, 2006. 
  

			
	 PLACER SIERRA BANK
 f/k/a SOUTHWEST
COMMUNITY BANK

		
	 By:
	 	 /s/ David E. Hooston 

		 	David E. Hooston, Treasurer

  

	
	 /s/ Frank J. Mercardante

	 FRANK J. MERCARDANTEFirst Amendment to Employment Agreement

 Exhibit 10.3 
 AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This Amendment (the “Amendment”)
to that certain Amended and Restated Employment Agreement dated as of January 1, 2006 (the “Agreement”) is made and entered into as of August 14, 2006 (the “Effective Date”) by and between Placer Sierra Bancshares, a
California corporation (the “Company”) and Ronald W. Bachli (the “Executive”) (collectively sometimes referred to as the “Parties”). 
 WHEREAS, the Executive has expressed his desire and intention to retire and resign as a director and the Chairman of the Board of Directors and Chief Executive Officer of the Company, as well as to resign from all
offices in which he currently serves as a trustee, executive officer or director of the Company’s subsidiaries and affiliates; and 
 WHEREAS, by resolution of the Board of Directors adopted on August 14, 2006, the Company desires to facilitate the Executive’s retirement and resignation by clarifying the Agreement to provide that such retirement and resignation
from all offices of the Company, its subsidiaries and affiliates constitutes “Good Reason” for purposes of the benefits to which Executive is entitled upon the termination of the Employment Period under the Agreement. 
 NOW THEREFORE, the Parties hereby agree to amend the Agreement as follows: 
 1. Section 3(c) of the Agreement is hereby amended to read in its entirety as follows: 
 “3
(c) Good Reason. The Executive’s employment may be terminated by the Executive for Good Reason. For purposes of this Agreement, “Good Reason” shall mean in the absence of a written consent of the Executive: 
 (i) The assignment to the Executive of duties inconsistent with the Executive’s status as Chairman of the Board and Chief Executive Officer of the
Company or a substantial adverse alteration in the nature or stature of the Executive’s responsibilities from those described herein, which is not cured by the Company within seven (7) business days after the Executive delivers written
notice to the Company of such assignment or alteration; 
 (ii) A reduction by the Company of the Executive’s then current Base Salary;

 (iii) Any material breach by the Company of any provisions of this Agreement, which breach is not cured by the Company within seven
(7) business days after the Executive delivers written notice of such breach to the Company; 

 (iv) The Company’s requiring the Executive to be based at any office location outside of Sacramento,
California; 
 (v) Any purported termination by the Company of the Executive’s employment otherwise than as expressly permitted by this
Agreement; 
 (vi) Any failure by the Company to comply with and satisfy Section 14 (c) of this Agreement; and 
 (vii) The Executive’s written notice of retirement and resignation as a director and the Chairman of the Board of Directors and Chief Executive
Officer of the Company, and as a trustee, director and officer of the Company’s affiliates and subsidiaries; provided, however, that, for a period of 180 days following the effective date of such retirement and resignation, and in
consideration of the payment by the Company of a consulting fee of $125,000, payable upon submission of an executed unconditional Release in the form of Exhibit “A” attached hereto, Executive shall make himself available to consult with
and advise the Board of Directors solely regarding management transition matters; provided, further, that the Company shall reimburse the Executive for reasonable attorneys’ fees, up to a maximum of $5,000, incurred in connection
with the amendment of the Executive’s SERP.” 
 2. The form of unconditional Release attached as Exhibit “A” to the Agreement is replaced
with the form of unconditional Release attached as Exhibit “A” to this Amendment. 
 3. All other terms and conditions of the Agreement shall
remain in full force and effect. 
 [Signature Page Follows] 

 In witness whereof, the Executive has hereunto set his hand and, pursuant to the authorization from the
Board of Directors of the Company, the Company has caused these presents to be executed in its name on its behalf, all as of the day and year first above written. 
  

			
	PLACER SIERRA BANCSHARES
		
	 By:
	 	 /s/ Larry Mitchell

	 Name:
	 	Larry Mitchell
	 Title:
	 	Director
	Date:	 	August 14, 2006

  

	
	 /s/ Ronald W. Bachli

	 RONALD W. BACHLI

	 Date: August 14, 2006Second Amendment to Employment Agreement

 Exhibit 10.3(a) 
 SECOND AMENDMENT TO 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This Amendment (the “Amendment”) to that certain Amended and Restated Employment Agreement dated as of January 1, 2006, as previously
amended (the “Agreement”) is made and entered into on October 17, 2006, effective as of January 1, 2006 (the “Effective Date”) by and between Placer Sierra Bancshares, a California corporation (the “Company”)
and Ronald W. Bachli (the “Executive”) (collectively sometimes referred to as the “Parties”). 
 WHEREAS, the Company and
the Executive have determined that certain provisions of the Agreement contain transcription errors, and the Company and the Executive desire to correct such errors in order to conform the Agreement to the intent of the Parties; and 
 WHEREAS, the Company and the Executive have determined that additional corrections should be made to the Agreement during the corrective amendment period
prescribed by Internal Revenue Service guidance and proposed regulations under Section 409A of the Internal Revenue Code, in order to conform the Agreement to the intent of the Parties and the requirements of Section 409A of the Internal
Revenue Code; 
 NOW THEREFORE, the Parties hereby agree to amend the Agreement as follows: 
 1. Each occurrence of the reference to “Section 2(b)(vi)” in Sections 2(b)(vii) and 4 of the Agreement is hereby replaced with “Section
2(b)(vii)”. 
 2. Each occurrence of the clause “(unless an election to receive the retirement benefit in some other manner is
timely made in accordance with Section 2(b)(vi))” in Section 4 of the Agreement is hereby deleted. 
 3. The last sentence in
each of Section 4(a)(i) and Section 4(b)(i) is hereby deleted and replaced with the following: 
 “The Company shall pay such
amount on or before the 15th day following the Company’s receipt of Executive’s duly executed and unrevoked Release; provided, however, that if such payment otherwise would be made within the first six (6) months following termination
of Executive’s employment with the Company, such payment shall instead be made on the first day of the seventh month following such termination. Notwithstanding the foregoing, no such lump sum payment shall be made unless the duly executed and
unrevoked Release is delivered to the Company no later than two (2) months following the end of the calendar year in which Executive’s employment termination occurs. 

 4. All other terms and conditions of the Agreement shall remain in full force and effect. 
 In witness whereof, the Executive has hereunto set his hand and, pursuant to the authorization from the Board of Directors of the Company, the Company
has caused these presents to be executed in its name on its behalf, all as of the day and year first above written. 
  

			
	PLACER SIERRA BANCSHARES
		
	By:	 	 /s/ Robert J. Kushner

	Name:	 	Robert J. Kushner
	Title:	 	Chairman of the Compensation Committee of the Board of Directors
	Date:	 	October 17, 2006

  

	
	 /s/ Ronald W. Bachli

	RONALD W. BACHLI
	Date: October 17, 2006

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