Document:

EX-10.1

 Exhibit 10.1 

PACIFIC MERCANTILE BANCORP 

2010 EQUITY INCENTIVE PLAN 

ADOPTED BY THE BOARD OF DIRECTORS: APRIL 13, 2010 

APPROVED BY THE SHAREHOLDERS: MAY 25, 2010 

AS AMENDED BY THE BOARD OF DIRECTORS: April 17, 2013 

AMENDED BY THE SHAREHOLDERS: June 5, 2013 

This 2010 Equity Incentive Plan (the “Plan”) is hereby established and adopted, as of the Effective Date set forth in
Section 13.1 of this Plan, by Pacific Mercantile Bancorp, a California corporation (the “Company”). 
 1. PURPOSES OF THE PLAN 

The purposes of the Plan are: (a) to further align the interests of Company employees and directors with those of the Company’s
shareholders by providing incentive compensation opportunities tied to the performance of the Company’s Common Stock and by promoting increased ownership of the Company’s Common Stock by such individuals; and (b) to enhance the
Company’s ability to motivate, attract, and retain the services of officers and other key employees, and directors, upon whose judgment, and special efforts the successful conduct of the Company’s business is largely dependent, by enabling
the Company to grant to such individuals Awards consisting not only of stock options and restricted stock, but also stock appreciation rights. 
 2.
DEFINITIONS 
 2.1 When used with reference to the Company, the term “Affiliate” shall mean: 

(a) with respect to Incentive Stock Options, any “parent corporation” or “subsidiary corporation” of the
Company, whether now existing or hereafter created or acquired, as those terms are defined in Sections 424(e) and 424(f) of the Code, respectively; and 

(b) with respect to Awards other than Incentive Stock Options, in addition to any entity described in paragraph (a) of
this Section 2.1, any other corporation, limited liability company, partnership, joint venture or other entity, whether now existing or hereafter created or acquired, in which the Company has a direct or indirect beneficial ownership interest
representing at least one-third (1/3) of the aggregate voting power of the equity interests of such entity or one-third (1/3) of the aggregate fair market value of the equity interests of such entity, as determined by the Committee. 

2.2 “Award” means a Stock Option, Stock Appreciation Right (or SAR), or Restricted Stock granted to a Participant pursuant to
the Plan. The terms “Stock Option”, “Stock Appreciation Right” (or “SAR”), and “Restricted Stock” shall have the respective meanings given to such terms in Section 5 of this Plan. 

2.3 “Award Agreement” shall have the meaning set forth in Section 3.3(f) of this Plan. 2.4 “Board”
means the Board of Directors of the Company. 
 2.5 For purposes of this Plan, a “Change of Control” shall mean and shall
be deemed to have occurred on the happening of any of the events described in subsections (a) through (f) of this Section 2.5; provided, however, for purposes of any Award that constitutes “nonqualified deferred
compensation” within the meaning of Section 409A of the Code, the term Change of Control shall mean a change in the ownership or effective control of the Company, or a change in the ownership of a substantial portion of the assets of the
Company, within the meaning of Treasury Regulation § 1.409A-3(i)(5): 
 (a) the acquisition, directly or indirectly, by
any “person” or “group” (as those terms are defined in Sections 3(a)(9), 13(d) and 14(d) of the Exchange Act and the rules thereunder) of “beneficial ownership” (as determined pursuant to Rule 13d-3 under the Exchange
Act) of securities entitled to vote generally in the election of directors (“voting securities”) of the Company that represent 50% or more of the combined voting power of the Company’s then outstanding voting securities, other than:

 (i) an acquisition by a trustee or other fiduciary holding securities under any employee benefit plan (or related trust)
sponsored or maintained by the Company or any person controlled by the Company or by any employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the Company, or 

 (ii) an acquisition of voting securities of the Company by a corporation or other
entity owned, directly or indirectly by the shareholders of the Company in substantially the same proportions as their ownership of the Shares of the Company. 

(b) at any time during a period of twelve (12) months or less, individuals who at the beginning of such period constitute
the Board (and any new directors whose election by the Board or nomination for election by the Company’s shareholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at
the beginning of the period or whose election or nomination for election was so approved) cease for any reason (except for death, Disability or voluntary retirement) to constitute a majority thereof; or 

(c) the consummation of a merger, consolidation, reorganization or similar corporate transaction, whether or not the Company is
the surviving entity in such transaction, other than a merger, consolidation, or reorganization that would result in the persons who are beneficial owners of the Company’s voting securities outstanding immediately prior thereto continuing to
beneficially own, directly or indirectly, in substantially the same proportions, at least a simple majority of the combined voting power of the Company’s voting securities (or the voting securities of the surviving entity in such transaction)
outstanding immediately after such merger, consolidation or reorganization or other similar corporate transaction; or 
 (d)
the sale or other disposition of all or substantially all of the assets of the Company. 
 The Committee shall have full and final
authority, which shall be exercised in its discretion, to determine conclusively whether a Change of Control of the Company has occurred pursuant to the above definition, and the date of the occurrence of such Change of Control and any incidental
matters relating thereto. 
 2.6 “Code” shall mean the Internal Revenue Code of 1986, as such is amended from time to time,
and any reference to a section of the Code shall include any successor provision of the Code. 
 2.7 “Committee” shall mean
the committee appointed by the Board of Directors from among its members to administer the Plan pursuant to Section 3. 2.8 “Common Stock” means the Company’s Common Stock, without par value. 

2.9 “Company” means Pacific Mercantile Bancorp. 

2.10 “Disability” means a Participant being considered “disabled” within the meaning of Section 409A(a)(2)(C)
of the Code, unless otherwise provided in an Award Agreement. 
 2.11 “Effective Date” means the effective date of this
Plan as described in Section 13.1 of this Plan. 
 2.12 “Exchange Act” means the Securities Exchange Act of 1934, as
amended from time to time, and any reference to a section of the Exchange Act shall include any successor provision of that Act. 
 2.13
“Fair Market Value” on any given date means the value of one Share of Common Stock, determined as follows: 

(a) If the Common Stock is then listed or admitted to trading on the Nasdaq Stock Market or a stock exchange which reports
closing sale prices, the Fair Market Value shall be the closing sale price per Share of Common Stock on the date of valuation on the Nasdaq Stock Market or the principal stock exchange (as the case may be) on which the Common Stock is then listed or
admitted to trading, or, if no closing sale price is quoted on such day, then the Fair Market Value shall be the closing sale price per share of the Common Stock on the Nasdaq Stock Market or such principal stock exchange (as the case may be) on the
next succeeding day for which a closing sale price is reported. 
 (b) If the Common Stock is not then listed or admitted to
trading on the Nasdaq Stock Market or a stock exchange which reports closing sale prices, the Fair Market Value shall be determined by the Committee through the application of such other valuation method permitted under Treasury Regulation
§ 1.409A-1(b)(5)(iv)(A). 
 (c) If neither paragraph (a) nor (b) is applicable as of the date of
valuation, then the Fair Market Value shall be determined by the Committee in good faith through the reasonable application of a reasonable valuation method in accordance with Treasury Regulation § 1.409A-1(b)(5)(iv)(B), which determination
shall be conclusive and binding on all interested and affected parties. 
 2.14 “Incentive Stock Option” or
“ISO” shall have the meaning set forth in Section 5.1(a) of this Plan. 
 2.15 “Option Agreement”
shall have the meaning set forth in Section 5.1(a) of this Plan. 
 2.16 “Outside Director” shall mean a member of the
Board of Directors who is not otherwise an employee of the Company. 2.17 “Nonqualified Stock Option” shall have the meaning set forth in Section 5.1(a) of this Plan. 

 2.18 “Participants” shall mean those individuals to whom Awards have been
granted from time to time and any authorized transferee of such individuals. 
 2.19 “Performance Criteria” shall have the
meaning set forth in Section 9.2 of this Plan. 2.20 “Plan” means this Pacific Mercantile Bancorp 2010 Equity Incentive Plan. 

2.21 “Prior Plans” collectively means the (a) Pacific Mercantile Bancorp 1999 Stock Option Plan, (b) Pacific
Mercantile Bancorp 2004 Stock Incentive Plan, and (c) Pacific Mercantile Bancorp 2008 Equity Incentive Plan. 
 2.22 “Qualified
Performance-Based Award” means an Award the grant, issuance, retention, vesting and/or settlement of which is subject to satisfaction of one or more performance goals that are based on or determined with reference to the Performance
Criteria specified in Section 9.2 hereof. 
 2.23 “Restricted Stock” shall have the meaning set forth in
Section 5.1(c) of this Plan. 
 2.24 “Restricted Stock Agreement” shall have the meaning set forth in
Section 5.1(c) of this Plan 2.25 “SAR Agreement” shall have the meaning set forth in Section 5.1(b) of this Plan. 

2.26 “Securities Act” means the Securities Act of 1933, as amended from time to time, and any reference to a section of the
Securities Act shall include any successor provision of that Act. 
 2.27 “Share” shall mean a share of Common Stock or the
number and kind of shares of stock or other securities which shall be substituted or adjusted for such shares as provided in Section 11. 

2.28 “Stock Appreciation Right” or “SAR” shall have the meaning set forth in Section 5.1(b) of this
Plan. 2.29 “Stock Option” shall have the meaning set forth in Section 5.1(a) of this Plan. 
 2.30
“Subcommittee” shall have the meaning set forth in Section 3.2(a) of this Plan. 
 2.31 “Subsidiary”
means any corporation or entity in which the Company owns or controls, directly or indirectly, fifty percent (50%) or more of the voting power or economic interests of such corporation or entity. 

2.32 “Termination Date” shall have the meaning set forth in Section 13.3 of this Plan. 

2.33 “Time-Based Award” shall have the meaning set forth in Section 8.1(c)(i) of this Plan. 

2.34 “Treasury Regulations” shall mean the regulations of the United States Treasury Department promulgated under the Code.

 2.35 “10% Stockholder” means a person who, as of a relevant date, owns or is deemed to own (by reason of the attribution
rules applicable under Section 424(d) of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of any of its Affiliates. 

3. ADMINISTRATION 
 3.1 Composition of
Committee. This Plan shall be administered by the Committee. The Committee shall consist of two or more Outside Directors who shall be appointed by the Board of Directors of the Company (the “Board”). The Board shall fill
vacancies on the Committee and may from time to time remove or add members of the Committee. The Board, in its sole discretion, may exercise any authority of the Committee under this Plan in lieu of the Committee’s exercise thereof, and in such
instances references herein to the Committee shall refer to the Board of Directors. It is intended that each Committee member shall satisfy the requirements for (i) an “independent director” for purposes of the Company’s
Corporate Governance Guidelines and the Compensation Committee Charter, (ii) an “independent director” under rules adopted by the NASDAQ Stock Market, (iii) a “nonemployee director” for purposes of Rule 16b-3 under the
Exchange Act and (iv) an “outside director” under Section 162(m) of the Code. No member of the Committee shall be liable for any action or determination made in good faith by the Committee with respect to the Plan or any Award
thereunder. 

 3.2 Delegation and Administration. 

(a) The Committee shall have the right, from time to time, to delegate to one or more separate committees (any such committee a
“Subcommittee”) composed of (a) one or more directors of the Company (who may, but need not be, members of the Committee) or (b) one or more officers of the Company, the authority to grant Awards and take the other actions
described in Section 3.3 below, subject to (i) such limitations as the Committee shall determine, (ii) the requirement, in the case of a delegation of authority to a Subcommittee that includes one or more officers, that the resolution
delegating such authority shall specify the total number of Shares for which Awards may be granted by such Subcommittee, and (iii) the limitation that in no event shall any such delegation of authority be permitted with respect to Awards to any
members of the Board or to any officers or other individuals who are subject to Rule 16b-3 under the Exchange Act or Section 162(m) of the Code or who have been appointed to any such Subcommittee. Any action by any such Subcommittee in
accordance with and within the scope of such delegation shall be deemed for all purposes to have been taken by the Committee and, in such event, references in this Plan to the Committee shall include any such Subcommittee. Additionally any actions
that may be taken by a Subcommittee composed of one or more officers of the Company shall be subject to review and approval, disapproval or modification by the Committee. 

(b) The Committee may delegate the administration of the Plan to an officer or officers of the Company, and such
administrator(s) may have the authority to execute and distribute agreements or other documents evidencing or relating to Awards granted by the Committee under this Plan, to maintain records relating to the grant, vesting, exercise, forfeiture or
expiration of Awards, to process or oversee the issuance of Shares of Common Stock upon the exercise, vesting and/or settlement of an Award, to interpret the terms of Awards and to take such other actions as the Committee may specify in the
resolutions providing for such delegation. Any action by any such officer within the scope of its delegation shall be deemed for all purposes to have been taken by the Committee and references in this Plan to the Committee shall include any such
officer, provided that the actions and interpretations of any such officer shall be subject to review and approval, disapproval or modification by the Committee. 

3.3 Powers of the Committee. Subject to the express limitations of the Plan, the Committee shall have such powers and authority as may
be necessary or appropriate for the Committee to carry out its functions as described in the Plan and to do all things necessary or desirable, in its sole discretion, in connection with the administration of this Plan, including, without limitation,
the following: 
 (a) to prescribe, amend and rescind rules and regulations relating to this Plan and to define terms not
otherwise defined herein, and to interpret and construe this Plan, any rules and regulations under this Plan and the terms and conditions of any Award granted hereunder, and to make exceptions to any such provisions in good faith and for the benefit
of the Company; 
 (b) to determine which persons are eligible to be Participants in this Plan and the eligible Participants
to whom Awards shall be granted hereunder and the time or times when any such Awards shall be granted to them; 
 (c) to
grant Awards to Participants and determine the terms and conditions thereof, including the number of Shares subject to Awards and the exercise or purchase price thereof and the circumstances under which Awards become exercisable or vested or are
forfeited or expire, which terms may but need not be conditioned upon the passage of time, continued employment or service with the Company or an Affiliate, the satisfaction of performance goals or criteria, the occurrence of certain events, or
other factors as may be determined by the Committee; 
 (d) to amend the terms of an Award in any manner that is not
inconsistent with the Plan; provided, however, that no such action shall adversely affect the rights of a Participant with respect to an outstanding Award without the Participant’s consent; 

(e) to establish or verify the extent of satisfaction of any performance goals or other conditions applicable to the grant,
issuance, exercisability, vesting and/or ability to retain any Qualified Performance-Based Award or other Award granted under this Plan; 

(f) to prescribe and amend the terms of the agreements or other documents evidencing Awards (“Award
Agreements”) made under this Plan (which need not be identical and the terms and conditions of which may vary as determined by the Committee or any Subcommittee thereof); 

(g) to determine whether, and the extent to which, adjustments are required pursuant to Section 11 of this Plan; and 

(h) to make all other determinations deemed necessary or advisable for the administration of this Plan. 

 3.4 Effect of Change in Status. The Committee shall have the discretion to determine the
effect upon an Award and upon an individual’s status as a Participant under the Plan (including whether a Participant shall be deemed to have experienced a termination of employment or other change in status) and upon the vesting, expiration or
forfeiture of an Award in the case of (i) any Participant who is employed by an entity that ceases to be an Affiliate, (ii) any leave of absence approved by the Company or any Affiliate, and (iii) any change in the Participant’s
status from an employee to a member of the Board, or vice versa. 
 3.5 Determinations of the Committee. All decisions,
determinations, interpretations and actions by the Committee regarding this Plan shall be final, binding and conclusive on all Participants and any other persons claiming rights under the Plan or any Award. The Committee shall consider such factors
as it deems relevant to making such decisions, determinations and interpretations including, without limitation, the recommendations or advice of any director, officer or employee of the Company and such attorneys, consultants and accountants as it
may select. The Committee’s determinations under the Plan need not be uniform and may be made by the Committee selectively among persons eligible to become Participants, whether or not such persons or Participants are similarly situated. A
Participant or other holder of an Award may contest a decision or action by the Committee with respect to such person or Award only on the grounds that such decision or action was arbitrary or capricious or was unlawful, and any review of such
decision or action shall be limited to determining whether the Committee’s decision or action was arbitrary or capricious or was unlawful. 

3.6 Limitation on Liability. No member of the Committee or any Subcommittee shall be liable for any action or determination made in
good faith by the Committee or such Subcommittee with respect to the Plan or any Award hereunder. No employee of the Company and no member of the Board or Committee or of any Subcommittee shall be subject to any liability with respect to duties
under the Plan unless the person acts fraudulently or in bad faith. The Company shall, to the fullest extent permitted by law, indemnify each member of the Board, the Committee or any Subcommittee, and any employee of the Company, with duties under
the Plan who was or is a party, or is threatened to be made a party, to any threatened, pending or completed proceeding, whether civil, criminal, administrative or investigative, by reason of such person’s conduct in the performance of duties
under or with respect to the Plan. 
 4. SHARES SUBJECT TO THE PLAN 

4.1 Shares Subject to the Plan. 

(a) Subject to adjustment, pursuant to Section 11.1 hereof, as to the number and kind of shares that may be issued under
this Plan, the number of Shares authorized for issuance under this Plan is 1,200,000 Shares, plus (i) any Shares of Common Stock that, as of the Effective Date, were reserved for future issuance pursuant to Awards not yet granted under the
Prior Plans (all of which shall, on the Effective Date, cease to be available for the grant of Awards under the Prior Plans), plus (ii) a number of Shares equal to the number of Shares of Common Stock which, as of the Effective Date, are
subject to Awards granted under the Prior Plans that terminate, expire or lapse for any reason on or after the Effective Date (none of which Shares may thereafter become available for the grant of Awards under any of the Prior Plans). However,
except if and to the extent adjusted pursuant to Section 11.1 hereof, assuming that all of the Awards granted under the Prior Plans prior to the Effective Date terminate, expire or lapse, the maximum aggregate number of Shares that may be
issued pursuant to Awards under this Plan shall total, but shall not exceed, 2,504,555 Shares, less the number of Shares, if any, that are issued after the Effective Date pursuant to Awards granted prior to the Effective Date under the Prior Plans,
provided that no more than 2,504,555 Shares may be issued pursuant to ISOs. If and to the extent any provisions of any of the Prior Plans conflict with this Section 4.1(a), then the provisions of this Section 4.1(a) shall supersede the
conflicting provisions of the Prior Plans. 
 (b) For purposes of the foregoing limits on the maximum aggregate number of
Shares of Common Stock that may be awarded or granted under this Plan, in the event that (i) all or any portion of any Award granted or offered under this Plan can no longer under any circumstances be exercised or purchased, or (ii) any
Shares which had been the subject of an Award Agreement under this Plan are reacquired or purchased by the Company, then, the Shares that were not exercised or purchased by a Participant or that were reacquired or purchased by the Company (as the
case may be) shall again be available for grant or issuance of Awards under this Plan. Shares which are withheld in order to satisfy federal, state or local tax liability (to the extent permitted by the Committee) shall not count against the above
limits and shall again become available for grant or issuance under the Plan. Additionally, only the number of Shares actually issued upon exercise of a Stock Appreciation Right shall count against the above limits, and any Shares which were
designated to be used for such purposes and that are not in fact so used shall again become available for grant or issuance under the Plan. 

 (c) Notwithstanding anything to the contrary contained in this Section 4.1,
subject to Section 4.2 hereof, the maximum aggregate number of Shares of Common Stock authorized for issuance under this Plan that may be issued pursuant to Stock Options intended to be Incentive Stock Options shall be equal to the aggregate
number of Shares described in Section 4.1(a), plus any Shares that become available for grant under this Plan pursuant to Section 4.1(b) above. 

4.2 Individual Participant Limitations. The maximum number of Shares of Common Stock that may be the subject of Performance-Based
Awards granted under this Plan, in the aggregate, to any one Participant during any fiscal year period shall be 400,000 Shares (which number shall be subject to adjustment as provided in Section 11 hereof). The foregoing limitations shall be
applied on an aggregate basis taking into account Awards granted to a Participant under this Plan as well as awards of the same type granted to a Participant under any other equity-based compensation plan of the Company or any Affiliate now in
existence or that may be adopted at any time hereafter. 
 5. PLAN AWARDS 

5.1 Award Types. The Committee, on behalf of the Company, is authorized under this Plan to grant, award and enter into the following
arrangements or benefits under the Plan provided that their terms and conditions are not inconsistent with the provisions of the Plan: Stock Options, Stock Appreciation Rights (or “SARs”), and Restricted Stock. Such arrangements and
benefits are sometimes referred to herein as “Awards.” The Committee, in its discretion, may determine that any Award granted hereunder shall be a Qualified Performance-Based Award (as hereinabove defined). An Award may consist of
one of the following types of Awards or two or more different types of Awards in tandem or in the alternative. 
 (a)
Stock Options. A “Stock Option” is a right to purchase a number of Shares at such exercise price, at such times, and on such other terms and conditions as are specified in or determined pursuant to Award Agreement evidencing
the Award (the “Option Agreement”). The Committee may grant Stock Options intended to be eligible to qualify as incentive stock options pursuant to Section 422 of the Code (“Incentive Stock Options” or
“ISOs”) and Stock Options that are not intended to qualify as ISOs (“Nonqualified Stock Options”), as it, in its sole discretion, shall determine. 

(b) Stock Appreciation Rights. A stock appreciation right (“Stock Appreciation Right” or
“SAR”) is a right to receive value, with respect to a specified number of Shares of Common Stock, equal to or otherwise based on the excess of (i) the market value of a Share of Common Stock at the time of exercise over
(ii) the exercise price or “base price” of the right, subject to such terms and conditions as are expressed in the Award Agreement evidencing the Award (the “SAR Agreement”). That value may be paid to the Participant
in cash or Shares of Common Stock as determined by the Committee and set forth in the SAR Agreement. 
 (c) Restricted
Stock Awards. A “Restricted Stock” Award is an award of Shares of Common Stock under this Plan, the grant, issuance, retention and/or vesting of which is subject to one or more conditions, as are expressed in the Award Agreement
governing the Restricted Stock Award (the “Restricted Stock Agreement”), which if not fully satisfied will entitle the Company to reacquire some or all of such Shares at such times and on such terms as are set forth in the Award
Agreement. 
 5.2 Evidence of the Grant of an Award. The grant of an Award by the Committee under this Plan may be evidenced by a
notice, document or other communication, in written or electronic form, as shall be approved by the Committee, subject to any requirements of law or of any rules or regulations (including accounting rules) applicable to the grant of Awards. 

5.3 Suspension or Termination of Awards. 

(a) General. The Committee may specify in any Award Agreement at the time of the Award that the Participant’s
rights, payments and benefits with respect to the Award shall be subject to reduction, cancellation, forfeiture or recoupment, or that the vesting of any Award shall be subject to suspension or termination, upon the occurrence or non-occurrence of
any event or events that are specified in such Award Agreement, in addition to any otherwise applicable vesting or performance conditions of the Award. Such events may include, but shall not be limited to, termination of Service for cause or any act
of misconduct (as such terms are defined in the Participant’s Award Agreement), or other conduct by the Participant that is deemed to be detrimental to the business or reputation of the Company. 

 (b) Termination for Cause. Without limiting the generality of
Section 5.3(a) above, unless otherwise provided by the Committee and set forth in an Award Agreement, if a Participant’s employment or service relationship with the Company or any Affiliate shall be terminated for cause, as the same may be
defined in the Award Agreement of a Participant (or by reference to a definition of cause that is included in any employment agreement between the Company or any of its subsidiaries and the Participant), the Company may, in its sole discretion,
immediately terminate such Participant’s right to any further payments, vesting or exercisability with respect to any Award in its entirety. The Company shall have the power to determine whether the Participant has been terminated for cause and
the date upon which such termination for cause occurred. Any such determination shall be final, conclusive and binding upon the Participant; provided, however, that for any Participant who is an “executive officer” for purposes of
Section 16 of the Exchange Act, or an Outside Director, such determination shall be subject to the approval of the Board. In addition, if the Company shall reasonably determine that a Participant has committed or may have committed any act
which could constitute the basis for a termination of such Participant’s employment or service relationship for cause (as defined in the Participant’s employment or service agreement with the Company or any Award Agreement of the
Participant, as the case may be), the Company may suspend the Participant’s rights to exercise any Option or SAR, or receive any payment or vest in any right with respect to any Award pending a determination by the Company of whether an act has
been committed which could constitute the basis for a termination for “cause” as provided in this Section 5.3. 
 5.4
Withholding. The Committee may and/or a Participant shall make arrangements acceptable to the Company for the satisfaction of any withholding tax obligations that arise under applicable federal, state, local or foreign law with respect to any
Stock Option, SAR, or Restricted Stock Award or any sale of Shares acquired pursuant to any such Award. The Company shall not be required to issue any Shares or to recognize the disposition of any such Shares until such obligations are satisfied. To
the extent permitted or required by the Committee, these obligations may or shall be satisfied by having the Company withhold a portion of the Shares that otherwise would be issued or a portion of the payment that would otherwise be paid to a
Participant under such Award or by the Participant’s tender of Shares previously acquired by the Participant. 
 5.5 Repricing
Prohibited. Subject to the anti-dilution adjustment provisions contained in Section 11.1 hereof, neither the Committee nor the Board shall cause or permit the cancellation, substitution or amendment of any Stock Option or SAR that would
have the effect of reducing the exercise price of such Stock Option or base price of such SAR at which such Stock Option or SAR was granted under the Plan, or otherwise approve any modification to such Stock Option or SAR that would be treated as a
“repricing” under the then applicable rules, regulations or listing requirements adopted by NASDAQ Stock Market or the principal exchange on which the Company’s Shares are listed for trading (if other than the NASDAQ Stock Market),
unless and until such action is submitted to the shareholders for their prior approval and is approved by the affirmative vote of the holders of a majority of the Shares of the Company that are entitled to vote, and that are voted on, the proposal
to approve such action. 
 6. STOCK OPTIONS 

6.1 Grant, Terms and Conditions of Stock Options. The Committee may grant Stock Options at any time and from time to time prior to the
Termination Date of this Plan, as set forth in Section 13 below, to employees and Outside Directors of the Company or any Affiliate selected by the Committee. No Participant shall have any rights as a stockholder with respect to any Shares
subject to Stock Options awarded under this Plan until those Shares have been issued by the Company. The terms and conditions governing and the respective rights and obligations of the Participant and the Company with respect to each Stock Option
shall be evidenced only by a Stock Option Agreement (in written or electronic form) as may be approved by the Committee containing such terms and conditions, not in conflict with the express terms of this Plan, as are determined by the Committee.
Subject to the provisions of Section 6.6 hereof and Section 422 of the Code, each Stock Option shall be designated, in the discretion of the Committee, as an Incentive Stock Option or as a Nonqualified Stock Option. Stock Options granted
pursuant to this Plan need not be identical, but each must contain or be subject to the terms and conditions set forth hereinafter in this Section 6. 

6.2 Exercise Price. The exercise price per Share of a Stock Option shall not be less than 100 percent of the Fair Market Value of a
Share of Common Stock on the date of grant, provided that the Committee may in its discretion specify for any Stock Option an exercise price per Share that is higher than such Fair Market Value. 

6.3 Vesting of Stock Options. The Committee shall, in its discretion, prescribe the time or times at which, and the conditions upon
which, a Stock Option, or portion thereof, shall become vested and/or exercisable, and may accelerate the vesting or exercisability of any Stock Option at any time. The requirements for vesting and exercisability of a Stock Option may be based on
the continued service of the Participant with the Company or any of its Affiliates for a specified time period or periods, or on the attainment of specified performance goals relating to Performance Criteria or the satisfaction of any other
conditions that may be established by the Committee in its discretion. 

 6.4 Term of Stock Options. The Committee shall, in its discretion, prescribe in each Stock
Option Agreement the period during which a vested Stock Option may be exercised, provided that the maximum term of a Stock Option shall not exceed ten (10) years from its date of grant. Except as otherwise provided in this Section 6 or as
may be provided otherwise by the Committee in the Stock Option Agreement, no Stock Option may be exercised at any time during the term thereof unless the Participant is then an employee or director of the Company or one of its Affiliates. 

6.5 Stock Option Exercise. Subject to such terms and conditions as shall be specified in any Stock Option Agreement, a vested Stock
Option may be exercised in whole or in part at any time during the term thereof by delivery of a written or transmission of an electronic notice in the form required by the Company, together with payment of the aggregate exercise price therefor and
applicable withholding taxes. The exercise price of a Stock Option shall be paid in cash or in such other form of consideration as shall be approved by the Committee, as expressly set forth in the Stock Option Agreement, and may include, without
limitation, delivery of already owned Shares that have been held by the Participant, valued at the Fair Market Value of such Shares on the date of exercise; withholding (either actually or by attestation) of Shares otherwise issuable under such
Stock Option; by payment under a broker-assisted sale and remittance program acceptable to the Committee; if permitted by the Committee and applicable law, by delivery of a full recourse promissory note in a principal amount equal to the exercise
price that is being paid thereby and containing such terms and conditions as shall be approved by the Committee; by a combination of the methods described above; or by such other lawful method or means as may be approved by the Committee. 

6.6 Additional Rules for ISOs. 

(a) Eligibility. An ISO may only be granted to a Participant who is considered an employee for purposes of Treasury
Regulation § 1.421-7(h) with respect to the Company or any Affiliate that qualifies as a “Subsidiary” with respect to the Company for purposes of Section 424(f) of the Code. 

(b) Annual Limits. No ISO shall be granted to a Participant as a result of which the aggregate Fair Market Value
(determined as of the Date of Grant) of the Shares of Common Stock with respect to which ISOs under Section 422 of the Code are exercisable for the first time in any calendar year under the Plan and any other stock option or stock incentive
plans of the Company or any Affiliate, would exceed $100,000, determined in accordance with Section 422(d) of the Code. This limitation shall be applied by taking ISOs into account in the order in which they were granted. 

(c) Exercise Price and Term. If an ISO is granted to any 10% Stockholder, the exercise price may not be less than 110%
of the Fair Market Value of a Share of Common Stock on the date of grant and the term of the ISO may not exceed 5 years. 

(d) Termination of Employment. An Award of an ISO may provide that such Stock Option may be exercised not later than
three (3) months following termination of employment of the Participant with the Company and all Subsidiaries, or not later than one year following (i) a permanent and total disability within the meaning of Section 22(e)(3) of the
Code, as and to the extent determined by the Committee to comply with the requirements of Section 422 of the Code, or (ii) the death of the Participant. 

(e) Nontransferability. An ISO shall by its terms be nontransferable other than by will or by the laws of descent and
distribution, or pursuant to a domestic relations order in settlement of marital property rights; but, to retain its eligibility for ISO treatment, must be exercised during the lifetime of a Participant only by such Participant. 

(f) Other Terms and Conditions. Any ISO granted hereunder shall contain such additional terms and conditions, not
inconsistent with the terms of the Plan, as are deemed necessary or desirable by the Committee, which terms, together with the terms of the Plan, shall be intended and interpreted to cause such ISO to qualify as an “incentive stock option”
under Section 422 of the Code. A Stock Option Agreement for an ISO may provide that it shall be treated as a Nonqualified Stock Option to the extent that any of the requirements applicable to “incentive stock options” under the Code
shall not be satisfied. 
 (g) Disqualifying Dispositions. If Shares acquired by exercise of an ISO are disposed of
within two (2) years following the date of its grant or one (1) year following the issuance of such Shares to the Participant upon exercise, the Participant shall, promptly following such disposition, notify the Company in writing of the
date and terms of such disposition and provide such other information regarding the disposition as the Company may reasonably require. 

 7. STOCK APPRECIATION RIGHTS 

7.1 Grant of Stock Appreciation Rights. A Stock Appreciation Right (or SAR) may be granted to any employee or Outside Director selected
by the Committee. SARs (i) may be granted on a basis that allows for the exercise of the right by the Participant or that provides for the automatic payment of the right upon a specified date or event; and (ii) shall be exercisable or
payable at such time or times and upon conditions as may be approved by the Committee, provided that the Committee may accelerate the exercisability or payment of any SAR at any time. 

7.2 Freestanding Stock Appreciation Rights. An SAR may be granted without any related Stock Option and may be subject to such vesting
and exercisability requirements as specified by the Committee in the SAR Award Agreement. Such vesting and exercisability requirements may be based on the continued service of the Participant with the Company or an Affiliate for a specified time
period (or periods) or on the attainment of specified performance goals established by the Committee in its discretion, or both. An SAR will be exercisable or payable at such time or times as determined by the Committee, provided that the term of an
SAR shall not exceed ten (10) years from its date of grant. The exercise or “base” price of an SAR granted without any related Stock Option shall be determined by the Committee in its sole discretion; provided, however, that the base
price per Share of any such freestanding SAR shall not be less than 100 percent of the Fair Market Value of a Share of Common Stock on the date of grant. 

7.3 Tandem Stock Option/Stock Appreciation Rights. An SAR may be granted in tandem with a Stock Option, either at the time of grant or
at any time thereafter during the term of the Stock Option. A tandem Stock Option/SAR will entitle the holder to elect, as to all or any portion of the number of Shares subject to such Stock Option/SAR, to exercise either the Stock Option or SAR,
resulting in the reduction of the corresponding number of Shares of Common Stock subject to the right so exercised as well as the tandem right not so exercised. An SAR granted in tandem with a Stock Option hereunder (a) shall have a base price
per share equal to the per share exercise price of the Stock Option, (b) will be vested and exercisable at the same time or times that the related Stock Option is vested and exercisable, and (c) will expire or terminate (as the case may
be) no later than the time at which the related Stock Option expires or terminates. 
 7.4 Payment of Stock Appreciation Rights. An
SAR will entitle the holder, upon exercise by the holder or other payment thereof by the Company, as applicable, to receive an amount determined by multiplying: (i) the excess of the Fair Market Value of a Share of Common Stock on the date of
exercise or payment of the SAR over the base price of such SAR, by (ii) the number of Shares as to which such SAR is exercised by the holder or is paid by the Company. Subject to any applicable requirements of Section 409A of the Code,
payment of such amount may be made, as approved by the Committee and set forth in the SAR Agreement, in Shares valued at their Fair Market Value on the date of exercise or payment, or in cash or in a combination of Shares and cash, subject to
applicable tax withholding requirements. 
 8. RESTRICTED STOCK 

8.1 Grant, Terms and Conditions of Restricted Stock. The Committee may grant Restricted Stock at any time and from time to time prior to
the termination of the Plan to employees and Outside Directors selected by the Committee. A Participant shall have rights as a stockholder with respect to any Shares subject to a Restricted Stock Award hereunder only to the extent specified in this
Plan or the Restricted Stock Agreement (as the case may be) evidencing such Award. The grant by the Committee of Restricted Stock shall be evidenced by such written or electronic notices or communications in such form as may be approved by the
Committee. Awards of Restricted Stock granted pursuant to the Plan need not be identical but each must contain or be subject to the following terms and conditions: 

(a) Terms and Conditions. Each Restricted Stock Agreement shall contain provisions regarding (i) the number of
Shares subject to such Award or a formula for determining such, (ii) the purchase price (if any) of those Shares, and the methods by which payment of any purchase price may be paid, (iii) the satisfaction or achievement of conditions,
including but not limited to, but subject to Section 8.1(c) below, any period of service or achievement of performance goals that shall determine the number of Shares that are granted, issued, retainable and/or vested, (iv) such terms and
conditions on the grant, issuance, vesting and/or forfeiture of the Shares subject to such Award as may be determined by the Committee, (v) restrictions on the transferability of the Shares, and (vi) such additional terms and conditions,
all as may be determined by the Committee, in each case not inconsistent with this Plan. 
 (b) Purchase Price.
Subject to the requirements of applicable law, the Committee shall determine the price, if any, at which Shares of Restricted Stock may be purchased by or awarded to a Participant, which may vary from time to time and among Participants and which
may be below the Fair Market Value of such Shares at the date of grant or issuance, or that no price shall be payable for such Shares that have become vested. 

(c) Vesting. Except as may otherwise be provided in Section 11.2 of the Plan: 

(i) Vesting Based on Continuous Service. A Restricted Stock Award may provide that the Award shall vest (or that the
restrictions to which the Award is subject may lapse) in one or more installments based on the period of time that the Participant remains in the Continuous Service of the Company or an Affiliate; provided, however, that no such Restricted Stock for
which vesting is based solely on the period of the Participant’s 

 
Continuous Service (a “Time-Based Award”) shall become 100% vested sooner than (x) the completion of three (3) years of continuous service, measured from its grant
date, in the case of such an Award to any officer or employee or (y) one (1) year of continuous service, measured from its grant date, in the case of such an Award to any Outside Director. 

(ii) Performance-Based Vesting. A Restricted Stock Award may provide that the Award shall vest (or that the restrictions
to which the Award is subject may lapse) on the achievement, in whole or in part, of performance goals with respect to specified Performance Criteria (as set forth in Section 9 hereof), in which event the minimum vesting period of such an Award
shall be no less than one (1) year from its grant date. 
 (iii) Time and Performance Based Awards. If a
Performance-Based Award also provides that, notwithstanding a failure to achieve in full any of the specified performance goals, the Award may still become fully vested on the basis of the duration of the Participant’s Continuous Service, then,
the Award may provide for a vesting period of not less than one (1) year if and to the extent the specified performance goal or goals are achieved, but also shall provide that the applicable vesting period based on the duration of Continuous
Service shall not be less than three (3) years in the case of an officer or employee or one (1) year in the case of an Outside Director. 

(iv) Effect of Termination of Continuous Service or Failure to Achieve Performance Goals. A Restricted Stock Award shall
provide, in the case of a Time-Based Award, that if the Participant’s Continuous Service terminates prior to the time that the Restricted Stock Award has become fully vested, or, in the case of a Performance-Based Award, if any performance goal
required to be achieved as a condition of vesting is not fully achieved, then, the Shares of Common Stock subject to that Award that fail to vest as a result thereof may, at the Company’s election, be repurchased, in whole or in part, by the
Company at a repurchase price set forth in the applicable Award Agreement, but not less than the purchase price paid by the Participant, provided, however, that if the Participant was not required to pay any purchase price for the Shares of Common
Stock subject to the Restricted Stock Award, then, the Award Agreement may provide that, upon a failure of the vesting requirement or requirements to be satisfied, the unvested Shares of Restricted Stock shall be cancelled or transferred to the
Company, without the payment by the Company of any purchase price therefor. 
 (d) Restrictions on Transferability.
Shares granted under any Restricted Stock Award shall be subject to transfer restrictions that prohibit the sale or other transfer, the assignment, pledge or encumbrance of any of the Shares until all applicable restrictions are removed or have
expired and any applicable conditions have been satisfied as provided in the Award Agreement, unless otherwise allowed by the Committee. The Committee may provide, in any Award Agreement for the grant of any Restricted Stock, that the certificates
representing the Shares awarded thereby (i) bear a legend making appropriate reference to the transfer restrictions imposed on the Shares, and/or (ii) shall remain in the physical custody of the Company or an escrow holder approved by the
Committee until all restrictions are removed or have expired or the Shares subject to Restricted Stock Award have become vested. 

(e) For purposes of this Plan, “Continuous Service” means (i) employment of a Participant by either the
Company or any Affiliate thereof which is uninterrupted except for vacations, illness (other than permanent disability, as defined in Section 22(e)(3) of the Code), or leaves of absence which are approved in writing by the Company or any such
Affiliate (as applicable), or (ii) service as a member of the Board of Directors of the Company or any Subsidiary until the Participant resigns, is removed from office, or his or her term of office expires and he or she is not reelected to the
Board. Notwithstanding the foregoing, if the Participant’s position with the Company or any Affiliate terminates or ceases, but the Participant holds, or obtains within the succeeding fifteen (15) days, another position with the Company or
any Affiliate, either as an employee or director thereof, the Participant’s Continuous Service shall not be deemed to have terminated or ceased and any Award granted to such Participant shall not be affected by, and the related Award Agreement
shall remain in full force and effect notwithstanding, such change in position. 
 9. QUALIFIED PERFORMANCE-BASED AWARDS 

9.1 The Committee may designate Awards that are granted under this Plan as Qualified Performance-Based Awards. If the Committee, in its
discretion, decides to grant a Qualified Performance-Based Award to a Participant, the provisions of this Section 9 shall control over any contrary provision contained in this Plan and the Award Agreement shall contain such terms, provisions,
conditions and restrictions as may be necessary to comply with the Qualified Performance-Based Compensation requirements of Section 162(m) of the Code; provided, however, nothing herein shall preclude the Committee, in its discretion, from
granting Awards under this Plan that are based on Performance Criteria or performance goals that do not satisfy the requirements of this Section 9. 

 9.2 Performance Criteria. 

(a) For purposes of this Plan, the term “Performance Criteria” shall mean any one or more of the following
performance criteria, either individually, alternatively or in any combination, applied to the Company or any Affiliate as a whole or to any business unit of the Company or any Affiliate, either individually, alternatively or in any combination, or
to any Participant, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, in each case as specified by
the Committee in the Award: (i) interest income or interest income growth, (ii) net interest income or net interest income growth, (iii) net interest margin or net interest margin improvements, (iv) non-interest income or
non-interest income growth, (v) reductions in non-interest expense or improvement in the Company’s efficiency ratio, (vi) reductions in non-accrual loans or other problem assets, (vii) earnings before income taxes,
(viii) net income, (ix) per share earnings, (x) increases in core deposits, either in absolute dollars or as a percentage of total deposits, or both, (xi) return on average equity, (xii) total shareholder return,
(xiii) share price performance, (xiii) return on average assets or on specified categories of assets, (xiv) comparisons of selected Company performance metrics, including any of the metrics set forth in the preceding clauses, to the
comparable metrics of a selected peer group of banking institutions or a stock index, (xv) customer satisfaction, or (xvi) individualized business or performance objectives established for the Participant, or (xvii) any combination of
the foregoing. The Committee may determine performance goals in respect of the performance of the Company, any of its subsidiaries or affiliates, or any business unit thereof, either individually, alternatively or in any combination. 

(b) The Committee may appropriately adjust any evaluation of performance under any Performance Criteria to exclude any of the
following events that may occur during a performance period: (i) asset write- downs, (ii) litigation or judgments or settlements, (iii) the effect of changes in or provisions under tax law, accounting principles or other such laws or
provisions affecting reported results, (iv) accruals for reorganization and restructuring programs and (v) any extraordinary non-recurring items as described in Accounting Principles Board Opinion No. 30 (as amended) and/or in
management’s discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to shareholders for the applicable year. Notwithstanding satisfaction or any completion of any Performance
Criteria, to the extent specified at the time of grant of an Award, the number of Shares, Stock Options, SARs, Shares of Restricted Stock or other benefits granted, issued, retainable and/or vested under an Award on account of satisfaction of such
Performance Criteria may be reduced by the Committee on the basis of such further considerations as the Committee in its sole discretion shall determine. 

10. OTHER PROVISIONS APPLICABLE TO AWARDS 

10.1 Transferability. 

(a) No Award granted under this Plan, nor any interest in such Award, may be sold, assigned, conveyed, gifted, pledged,
hypothecated or otherwise transferred in any manner, other than by will or the laws of descent and distribution or pursuant to a domestic relations order in settlement of marital property rights. Notwithstanding the foregoing, the Committee may
grant an Award or amend an outstanding Award to provide that the Award is transferable or assignable in the case of a transfer without the payment of any consideration, to any “family member” as such term is defined in Section 1(a)(5)
of the General Instructions to Form S-8 under the Securities Act, and in any transfer described in clause (ii) of Section 1(a)(5) of the General Instructions to Form S-8 under the Securities Act, provided that following any such transfer
or assignment the Award will remain subject to substantially the same terms applicable to the Award while held by the Participant to whom it was granted, as modified as the Committee shall determine appropriate, and as a condition to such transfer
the transferee shall execute an agreement agreeing to be bound by such terms. Notwithstanding the foregoing, however, an ISO may be transferred or assigned only to the extent consistent with Section 422 of the Code and in no event shall any
Permitted Transferee of any Participant be entitled to transfer the Award in whole or in part. Any purported assignment, transfer or encumbrance that does not qualify under this Section 10.1 shall be void and unenforceable against the Company.

 (b) Notwithstanding any provisions in this Plan to the contrary, the Committee may provide in the terms of an Award
Agreement that the Participant shall have the right to designate a beneficiary or beneficiaries who shall be entitled to any rights, payments or other benefits specified under an Award following the Participant’s death. During the lifetime of a
Participant, an Award shall be exercised only by such Participant or such Participant’s guardian or legal representative. In the event of a Participant’s death, an Award may, to the extent permitted by the Award Agreement, be exercised by
the Participant’s beneficiary as designated by the Participant in the manner prescribed by the Committee or, in the absence of an authorized beneficiary designation, by the legatee of such Award under the Participant’s will or by the
Participant’s estate in accordance with the Participant’s will or the laws of descent and distribution, in each case in the same manner and to the same extent that such Award was exercisable by the Participant on the date of the
Participant’s death. 

 10.2 Dividends. Unless otherwise provided by the Committee, no adjustment shall be made in
Shares issuable under Awards on account of cash dividends that may be paid or other rights that may be issued to the holders of Shares. However, no dividends or dividend equivalent amounts shall be paid to any Participant with respect to Shares
subject to any Award that have not vested or been issued or that are subject to any restrictions or conditions on the record date for any dividends or dividend equivalent amounts. 

10.3 Documents Evidencing Awards. The Committee shall, subject to applicable law, determine the date an Award is deemed to be granted.
The Committee or, except to the extent prohibited under applicable law, its delegate(s), may establish the terms of agreements or other documents evidencing Awards under this Plan and may, but need not, require as a condition to the effectiveness of
any such agreement or document that it shall be executed by the Participant, including by electronic signature or other electronic indication of acceptance, and that such Participant agree to such further terms and conditions as specified in such
agreement or document. The grant of an Award under this Plan shall not confer any rights upon the Participant holding such Award other than such terms, and subject to such conditions, as are specified in this Plan as being applicable to such type of
Award (or to all Awards) or as are expressly set forth in the agreement or other document evidencing such Award. 
 10.4 Additional
Restrictions on Awards. Either at the time an Award is granted or by subsequent action, the Committee may, but need not, impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales
by a Participant or other subsequent transfers by a Participant of any Shares of Common Stock issued under an Award, including without limitation (a) restrictions under an insider trading policy, (b) restrictions designed to delay and/or
coordinate the timing and manner of sales by the Participant or Participants, and (c) restrictions as to the use of a specified brokerage firm for receipt, resales or other transfers of such Shares. 

10.5 Affiliate Awards. In the case of a grant of an Award to any Participant who is an employee of an Affiliate, such grant may, if the
Committee so directs, be implemented by the Company’s issuance of any Shares subject to such Award to the Affiliate, for such lawful consideration as the Committee may determine, upon the condition or understanding that the Affiliate will
transfer those Shares to the Participant in accordance with the terms of the Award specified by the Committee pursuant to the provisions of the Plan. Notwithstanding any other provision hereof, such Award may be issued by and in the name of the
Affiliate and shall be deemed granted on such date as the Committee shall determine. 
 10.6 Awards subject to Code
Section 409A. Any Award that constitutes, or provides for, a deferral of compensation and that is subject to Section 409A of the Code shall satisfy the requirements of Section 409A of the Code, to the extent applicable as
determined by the Committee. The Award Agreement with respect to any such Award shall incorporate the terms and conditions required by Section 409A of the Code. If any deferral of compensation is to be permitted in connection with any Award,
the Committee shall establish rules and procedures relating to such deferral in a manner intended to comply with the requirements of Section 409A of the Code, including, without limitation, the time when an election to defer may be made, the
time period of the deferral and the events that would result in payment of the deferred amount, the interest or other earnings attributable to the deferral and the method of funding, if any, attributable to the deferred amount. 

11. CHANGES IN CAPITAL STRUCTURE AND CHANGES OF CONTROL 

11.1 Adjustments For Changes in Capital Structure. In order to preserve, as nearly as practical, but not to increase, the benefits to
Participants under this Plan, if there shall occur any change with respect to the outstanding Shares of the Company’s Common Stock by reason of any recapitalization, reclassification, stock dividend, extraordinary dividend, stock split, reverse
stock split or other distribution with respect to the Shares of Common Stock, or any merger, reorganization, consolidation, combination, spin-off or other similar corporate change that does not constitute a Change of Control, or any other change
affecting the Common Stock, the Committee shall cause an adjustment to be made in (i) the maximum number and kind of Shares provided in Section 4.1 and Section 4.2 hereof, (ii) the number and kind of Shares of Common Stock,
units, or other rights subject to then outstanding Awards, (iii) the exercise or base price for each Share or unit or other right subject to then outstanding Awards, and (iv) any other terms of an Award that are affected by the event.
Notwithstanding the foregoing, in the case of Incentive Stock Options, any such adjustments shall, to the extent practicable, be made in a manner consistent with the requirements of Section 424(a) of the Code and any adjustment affecting an
Award intended as Performance-Based Compensation shall be made consistent with the requirements of Section 162(m) of the Code. 

 11.2 Change of Control Transactions. In order to preserve, as nearly as practical, but not
to increase, the benefits to Participants under this Plan, in the event of a Change of Control of the Company: 
 (a) The
Committee shall have the discretion to provide, in any or all Award Agreements, such terms and conditions as it deems appropriate with respect to (i) the vesting of such Award in the event of a Change of Control, and (ii) the assumption of
such Award or the exchange therefor of comparable securities under another incentive program in the event of a Change of Control. In addition, the aforementioned terms and conditions may vary from Award Agreement to Award Agreement as the Committee
deems appropriate. 
 (b) Whether or not the terms of an outstanding Option Agreement provide for acceleration of vesting in
the event of a Change of Control, or to the extent that an Option is vested and not yet exercised, the Committee in its discretion may provide, in connection with the Change of Control transaction, for the purchase or exchange of any or each Option
for an amount of cash or other property having a value equal to the difference (or “spread”) between: (x) the value of the cash or other property that the Participant would have received pursuant to the Change of Control transaction
in exchange for the Shares issuable upon exercise of the Option had the Option been exercised immediately prior to the Change of Control, and (y) the Exercise Price of the Option. 

(c) Whether or not the terms of an outstanding SAR provide for acceleration of vesting in the event of a Change in Control, or
to the extent that an SAR is vested and not yet exercised, the Committee in its discretion may provide, in connection with the Change in Control transaction, for the purchase or exchange of any or each SAR for an amount of cash or other property
having a value equal to the value of the cash or other property that the Participant would have received pursuant to the Change in Control transaction in exchange for the Shares issuable upon exercise of the SAR had the SAR been exercised
immediately prior to the Change in Control. 
 (d) Notwithstanding anything to the contrary that may be contained elsewhere
in this Section 11.2, the Committee shall have the power and authority, in its sole discretion, to accelerate the vesting of any or all of the Options and SARs and/or the lapse of the restrictions on any or all of the Restricted Stock, even if
the surviving entity in a Change of Control transaction agrees to assume the Options and SARs outstanding under this Plan, or issue Substitute Options or Restricted Stock or new equity incentives for the then outstanding Options, SARs or Restricted
Stock. Additionally, the terms and conditions relating to the vesting of Options and SARs and the lapse of restrictions on Restricted Stock in the event of the consummation of a Change of Control may vary from Award Agreement to Award Agreement, as
the Committee, in its discretion, deems appropriate. 
 (e) All outstanding Options and SARs shall terminate and cease to be
exercisable upon the consummation of a Change of Control, except to the extent that, with the consent of the Company, the Options or SARs are assumed by the successor entity (or parent thereof) pursuant to the terms of the Change of Control
transaction. 
 (f) If the Company enters into a definitive agreement that provides for the consummation of a Change of
Control, the Committee shall cause written notice of such proposed Change of Control transaction to be given to Participants not less than fifteen (15) days prior to the anticipated effective date of the proposed Change of Control transaction;
provided, however, that any delay in giving or any failure to give such notice shall not affect the validity of nor shall it entitle any Participant to obtain a delay or postponement in the consummation of the Change of Control transaction. 

(g) Notwithstanding anything to the contrary that may be contained elsewhere in this Section 11.2 or elsewhere in this
Plan, if pursuant to any of the above provisions of this Section 11.2 above, an acceleration of the vesting of any Options or SARS or the lapse of restrictions on any Restricted Stock occurs or is deemed to have occurred immediately prior to
the consummation of a Change of Control, but the Change of Control transaction is terminated or abandoned, for any reason whatsoever, before consummation thereof, then such acceleration of vesting and lapse of restrictions shall be deemed to have
not occurred and the vesting schedule for the Options and SARs and the schedule or conditions for lapse of restrictions on Restricted Stock, as in effect prior to such acceleration, shall be reinstated to the same extent as if no definitive
agreement providing for such Change of Control Transaction had ever been entered into by the Company. 

 11.3 Company or Stockholder Actions Affecting the Capital Structure of the Company.
Notwithstanding anything to the contrary that may be contained elsewhere in this Plan, the existence of outstanding Awards shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments,
recapitalizations, reorganizations, exchanges, or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company or any issuance of Shares or other securities or subscription rights thereto, or
any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or other securities of the Company or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all
or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. Further, except as expressly provided herein or as may be provided by the Committee, (i) the issuance by the Company
of Shares, or any class of securities convertible into Shares, for cash, property, labor or services, upon direct sale, upon the exercise of rights or warrants to subscribe therefor, or upon conversion of Shares or obligations of the Company
convertible into such Shares or other securities, (ii) the payment of a dividend in cash or property other than Shares, or (iii) the occurrence of any similar transaction, and in any case whether or not for fair value, shall not affect,
and no adjustment by reason thereof shall be made with respect to, the number of Shares of Common Stock that are subject to Stock Options or other Awards theretofore granted under this Plan or the purchase price per Share of such Common Stock,
unless the Committee shall determine, in its sole discretion, that an adjustment is necessary or appropriate. 
 12. LISTING OR QUALIFICATION OF COMMON
STOCK 
 In the event that the Committee determines in its discretion that the listing or qualification of the Shares of Common Stock
available for issuance under the Plan on any securities exchange or quotation or trading system or under any applicable law or governmental regulation is necessary as a condition to the issuance of such Shares, then, a Stock Option or SAR may not be
exercised in whole or in part and a Restricted Stock Award shall not vest or be settled unless such listing, qualification, consent or approval has been unconditionally obtained. 

13. EFFECTIVE DATE, AMENDMENT AND TERMINATION OF THE PLAN 

13.1 Effective Date. This Plan was approved by the Board of Directors on April 13, 2010 and shall become effective immediately
following approval of the Plan by the affirmative vote of the holders of a majority of the shares of stock that are entitled to vote and are voted on the proposal to approve this Plan. Such approval by the shareholders was obtained and, accordingly,
the Plan became effective on May 25, 2010. 
 13.2 Amendments. The Board may amend, alter or discontinue the Plan and, to the
extent permitted by this Plan, the Board or the Committee may amend any Award Agreement or other document evidencing an Award made under this Plan, provided, however, that the Company shall submit for shareholder approval any amendment (other than
an amendment pursuant to the adjustment provisions of Section 11) required to be submitted for stockholder approval by NASDAQ or that otherwise would: 
  

	 	(a)	Increase the maximum number of Shares for which Awards may be granted under this Plan; 

  

	 	(b)	Reduce the price at which Stock Options may be granted below the price provided for in Section 6.2; 

  

	 	(c)	Reduce the exercise price of any outstanding Stock Options; 

  

	 	(d)	Extend the term of this Plan; 

  

	 	(e)	Change the class of persons eligible to be Participants; or 

  

	 	(f)	Increase the limits in Section 4. 

 In addition, no such amendment or alteration shall be
made which would impair the rights of any Participant, without such Participant’s consent, under any Award theretofore granted, provided, however, that no such consent shall be required with respect to any amendment or alteration if the
Committee determines in its sole discretion that such amendment or alteration either (i) is required or advisable in order for the Company, the Plan or the Award to satisfy or conform to any law or regulation or to meet the requirements of any
accounting standard, or (ii) is not reasonably likely to significantly diminish the benefits provided under such Award, or that any such diminishment has been adequately compensated. 

13.3 Termination Date. This Plan shall remain available for the grant of Awards until April 10, 2020, which is ten (10) years
following the date the Plan was approved by the Board of Directors, or such earlier date as the Board of Directors may determine (the “Termination Date”). The termination of the Committee’s authority to grant Awards under the
Plan will not affect the continued operation of the terms of the Plan or the Company’s or Participants’ rights and obligations with respect to Awards granted on or prior to such Termination Date, which Awards shall continue in effect
beyond the Termination Date in accordance with their terms and the terms and provisions of this Plan. 

 14. GENERAL PROVISIONS 

14.1 Employment or Service. This Plan is strictly a voluntary undertaking on the part of the Company and shall not constitute a contract
between the Company and any Participant or to be consideration for, or an inducement to, or a condition of, the employment or engagement of any Participant by the Company. Nothing in the Plan, in the grant of any Award or in any Award Agreement
shall confer upon any Participant any right to continue in the employment or service of the Company or any of its Affiliates, or interfere in any way with the right of the Company or any of its Affiliates at any time to terminate the
Participant’s employment or other service relationship with the Company or any Affiliate for any reason or no reason. 
 14.2
Securities Laws. No Shares of Common Stock will be issued or transferred pursuant to an Award unless and until all then applicable requirements imposed by Federal and state securities and other laws, rules and regulations and by any
regulatory agencies having jurisdiction, and by any exchanges upon which the Shares of Common Stock may be listed, have been fully met. As a condition precedent to the issuance of Shares pursuant to the grant or exercise of an Award, the Company may
require the Participant to take any reasonable action to meet such requirements. The Committee may impose such conditions on any Shares issuable under the Plan as it may deem advisable, including, without limitation, restrictions under the
Securities Act, under the requirements of any exchange upon which Shares of the same class are then listed, and under any blue sky or other securities laws applicable to such Shares. The Committee may also require the Participant to represent and
warrant at the time of issuance or transfer that the Shares are being acquired only for investment purposes and only for the account of such Participant and without any current intention to sell or distribute such Shares. 

14.3 Unfunded Plan. The adoption of the Plan and any reservation of Shares or cash amounts by the Company to discharge its obligations
hereunder shall not be deemed to create a trust or other funded arrangement nor shall the Company or the Committee be deemed to be a trustee of Shares or cash to be awarded under the Plan. Although bookkeeping accounts may be established with
respect to Participants who are granted Awards under this Plan, any such accounts will be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets which may at any time be represented by Awards, nor shall
this Plan be construed as providing for such segregation and, except upon the issuance of Shares pursuant to an Award, any rights of a Participant under the Plan shall be those of a general unsecured creditor of the Company, and neither a
Participant nor the Participant’s Permitted Transferees or estate shall have any other interest in any assets of the Company by virtue of the Plan. Notwithstanding the foregoing, in order to discharge its obligations under the Plan the Company
shall have the right to implement or set aside funds in a grantor trust, subject to the claims of the Company’s creditors or otherwise. 

14.4 Other Compensation and Benefit Plans. The adoption of the Plan shall not affect any other Share incentive or other compensation
plans in effect for the Company or any Affiliate, nor shall the Plan preclude the Company from establishing any other forms of Share or equity incentive or other compensation or benefit program for employees or directors of the Company or any
Affiliate. The amount of any compensation deemed to be received by a Participant pursuant to an Award hereunder shall not constitute includable compensation for purposes of determining the amount of benefits to which a Participant is entitled under
any other compensation or benefit plan or program of the Company or an Affiliate, including, without limitation, under any pension or severance benefits plan, except to the extent specifically provided to the contrary elsewhere in this Plan or by
the terms of any other such plan. 
 14.5 Liability of the Company. The Company shall not be liable to any Participant or any other
persons as to: (a) the non-issuance or sale of Shares as to which the Company has been unable to obtain from any regulatory body having jurisdiction the authority deemed by the Company’s counsel to be necessary to the lawful issuance and
sale of any such Shares hereunder; and (b) any tax consequence expected, but not realized, by any Participant or any other person due to the receipt, exercise or settlement of any Stock Option or other Award granted under this Plan. 

14.6 Plan Binding on Transferees. The Plan shall be binding upon the Company, its transferees and assigns, and each Participant, each
Participant’s executors, administrators and Permitted Transferees and beneficiaries. 
 14.7 Foreign Jurisdictions. The
Committee may adopt, amend and terminate such arrangements and grant such Awards, not inconsistent with the intent of the Plan, as it may deem necessary or desirable to comply with any tax, securities, regulatory or other laws of other jurisdictions
with respect to Awards that may be subject to such laws. The terms and conditions of such Awards may vary from the terms and conditions that would otherwise be required by the Plan solely to the extent the Committee deems necessary for such purpose.
Moreover, the Board may approve such supplements to or amendments, restatements or alternative versions of the Plan, not inconsistent with the intent of the Plan, as it may consider necessary or appropriate for such purposes, without thereby
affecting the terms of the Plan as in effect for any other purpose. 

 14.8 Substitute Awards in Corporate Transactions. Nothing contained in the Plan shall be
construed to limit the right of the Committee to grant Awards under the Plan in connection with the acquisition, whether by purchase, merger, consolidation or other corporate transaction, of the business or assets of any corporation or other entity.
Without limiting the foregoing, the Committee may grant Awards under the Plan to an employee or director of another corporation who becomes eligible, in accordance with the terms of this Plan, to receive Awards hereunder by reason of any such
corporate transaction in substitution for awards previously granted by such corporation or entity to such person. The terms and conditions of the substitute Awards may vary from the terms and conditions that would otherwise be required by the Plan
solely to the extent the Committee deems necessary for such purpose. 
 14.9 Governing Law. This Plan and any agreements or other
documents hereunder shall be interpreted and construed in accordance with the laws of the State of California and applicable federal law. The Committee may provide that any dispute as to any Award shall be presented and determined in such forum as
the Committee may specify, including through binding arbitration. Any reference in this Plan or in the agreement or other document evidencing any Award to a provision of law or to a rule or regulation shall be deemed to include any successor law,
rule or regulation of similar effect or applicability. 
 14.10 Severability. If any provision of the Plan or any Award Agreement
shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable in
any other jurisdiction. 
 14.11 Headings and References to this Plan. The Section, subsection and paragraph headings in this Plan
are for convenience of reference only and shall not affect the interpretation, construction or application of the provisions of this Plan. Unless the context indicates otherwise, the terms “herein”, “hereof”,
“hereinafter”, “hereto” and “hereunder” and similar terms shall refer to this Plan as a whole and not to the specific Section, paragraph or clause where such term may appear. 

14.12 No Other Understandings. This Plan supersedes any prior understandings or agreements (written or oral) that may be asserted to
exist between the Company or any of its Affiliates, on the one hand, and any other person, including any person that may be eligible to be or become a Participant under this Plan, on the other hand, relating in any way to the Plan or the grant of
any Awards pursuant to the Plan.EX-10.1

 Exhibit 10.1 

EXECUTION COPY 
 SECOND
AMENDMENT TO CREDIT AND GUARANTY AGREEMENT 
 SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT, dated as of November 13, 2013
(this “Second Amendment”), by and among BAKERCORP INTERNATIONAL HOLDINGS, INC., a Delaware corporation (“Holdings”), BAKERCORP INTERNATIONAL, INC., a Delaware corporation (the “U.S. Borrower”),
DEUTSCHE BANK AG NEW YORK BRANCH, as administrative agent (in such capacity, the “Administrative Agent”), and as collateral agent (in such capacity, the “Collateral Agent”), and each First Incremental Term Loan
Lender (as defined below) party hereto. Unless otherwise indicated, all capitalized terms used herein but not otherwise defined shall have the respective meanings provided to such terms in the Credit Agreement referred to below. 

W I T N E S S E T H: 

WHEREAS, Holdings, the U.S. Borrower, the European Borrower, the Subsidiary Guarantors party thereto, the Lenders from time to time party
thereto (the “Lenders”) and the Administrative Agent are parties to a Credit Agreement and Guaranty Agreement, dated as of June 1, 2011 (as amended, restated, amended and restated, supplemented or otherwise modified from time
to time prior to the date hereof, the “Credit Agreement”); 
 WHEREAS, pursuant to and in accordance with Section 2.15
of the Credit Agreement, the U.S. Borrower has notified the Administrative Agent of its request for Incremental Term Loan Commitments in an aggregate principal amount of up to $35,000,000 on the terms set forth in this Second Amendment to be used
for any purpose not prohibited by the Credit Agreement, including to finance Permitted Acquisitions and to pay fees and expenses in connection therewith; 

WHEREAS, subject to the terms and conditions set forth in Section 2.15 of the Credit Agreement and Section 2 hereto, each
lender party to this Second Amendment (each, a “First Incremental Term Loan Lender”) hereby severally agrees to provide a First Incremental Term Loan Commitment in the amount set forth opposite its name on Annex I attached
hereto (for each such First Incremental Term Loan Lender, its “First Incremental Term Loan Commitment”); and 
 WHEREAS,
the U.S. Borrower has appointed (i) Deutsche Bank Securities Inc. (“DBSI”) and (ii) Morgan Stanley Senior Funding, Inc. (“MS”), and both DBSI and MS have agreed, to act as lead arrangers and book running
managers with respect to this Second Amendment and the First Incremental Term Loans provided for hereunder; 
 NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is agreed as follows: 

 SECTION 1. Terms of the First Incremental Term Loans and Related Amendments to the Credit
Agreement. 
 (a) (i) Each First Incremental Term Loan Lender, the U.S. Borrower and the Administrative Agent acknowledge and agree
that the First Incremental Term Loan Commitments provided pursuant to this Second Amendment shall constitute Incremental Term Loan Commitments under the Credit Agreement. 

(ii) Each First Incremental Term Loan Lender party to this Second Amendment, to the extent not already a party to the Credit Agreement as a
Lender thereunder (the “Existing Lenders”), (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other
documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Second Amendment and to become a Lender under the Credit Agreement, (ii) agrees that it will, independently and without
reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement and
the other Loan Documents, (iii) appoints and authorizes the Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are
delegated to the Administrative Agent and the Collateral Agent, as the case may be, by the terms thereof, together with such powers as are reasonably incidental thereto, (iv) agrees that it will perform in accordance with their terms all of the
obligations which by the terms of the Credit Agreement and the other Loan Documents are required to be performed by it as a Lender, and (v) to the extent applicable in accordance with Section 5.5(b) or (c) of the Credit Agreement,
attaches the applicable forms, documentation and/or the Non-Bank Certificate as required thereby. 
 (iii) Subject to the satisfaction of
the conditions set forth in Section 2 hereto, on the Second Amendment Effective Date, each First Incremental Term Loan Lender party hereto shall be obligated to make a loan in respect of its First Incremental Term Loan Commitment (collectively,
“First Incremental Term Loans”) to the Borrower, which shall be added to and constitute a part of the Tranche and Class of existing Term Loans under the Credit Agreement prior to giving effect to this Second Amendment (the
“Existing Term Loans”) (other than for purposes of Sections 2.1(a), 4.3(a) and 8.15(a)). 
 (iv) Notwithstanding anything
to the contrary contained in the definition of “Interest Period” or elsewhere in this Credit Agreement, (i) each Borrowing of Existing Term Loans that are maintained as LIBOR Loans (each, an “Original Term Loan
Borrowing”) shall, upon the occurrence of the Second Amendment Effective Date, continue to remain outstanding and (ii) First Incremental Term Loans shall be initially incurred pursuant to a single new Borrowing of LIBOR Loans which
shall be added to (and thereafter be deemed to constitute a part of) each then outstanding Original Term Loan Borrowing on a pro rata basis (based on the relative sizes of the various such Original Term Loan Borrowings), with such new
Borrowing to be subject to (x) an Interest Period which commences on the Second Amendment Effective Date and ends on the last day of the Interest Period applicable to each Original Term Loan Borrowing to which it

  
 2 

 
is so added and (y) the same LIBOR Rate applicable to the Original Term Loan Borrowing to which it is so added. 

(v) The Applicable Margin applicable to the First Incremental Term Loans shall be the same as currently provided to be applicable to the
Existing Term Loans. 
 (vi) The First Incremental Term Loans shall (a) rank pari passu in right of payment and pari
passu in right of security with the Revolving Loans and the Existing Term Loans and (b) be treated the same as the Existing Term Loans except as set forth herein. 

(b) Subject to the satisfaction (or waiver) of the conditions set forth in Section 2 hereof, upon the making of the First
Incremental Term Loans contemplated by Section 1(a) hereof, the Credit Agreement is hereby amended as follows: 
 (i) The
definition of “Class” in Section 1.1 of the Credit Agreement is hereby amended by adding the following sentence at the end of the definition thereof: 

“For the avoidance of doubt, and notwithstanding clause (c) above, the 2013 Replacement Term Loans and First Incremental Term Loans
shall be considered the same Class of Loans and constitute Loans comprising of a single Borrowing.” 
 (ii) The definition of
“Term Loan” in Section 1.1 of the Credit Agreement is hereby amended by amending and restating it in its entirety as follows: 

““Term Loans” shall mean (a) prior to the First Amendment Effective Date and the making of the 2013
Replacement Term Loans, Term Loans (as defined in the Credit Agreement (prior to giving effect to the First Amendment), (b) on and after the First Amendment Effective Date and upon the making of the 2013 Replacement Term Loans, the 2013
Replacement Term Loans made pursuant to, and in accordance with, the terms of Section 2.1(e) and the First Amendment, and (c) on and after the Second Amendment Effective Date and the making of the First Incremental Term Loans, the
2013 Replacement Term Loans, the First Incremental Term Loans and each other Incremental Term Loan.” 
 (iii) The definition of
“Term Loan Commitment” in Section 1.1 of the Credit Agreement is hereby amended by amending and restating it in its entirety as follows: 

““Term Loan Commitment” shall mean (i) with respect to each Lender on the Closing Date, the amount
set forth opposite such Lender’s name in Schedule I directly below the column entitled “Term Loan Commitment,” (ii) with respect to each Lender on the First Amendment Effective Date, the commitment of such Lender to make
the 2013 Replacement Term Loans as provided in Section 1 of the First Amendment in an aggregate amount not to exceed the 2013 Replacement Term Loan Commitment of such Lender, (iii) with respect to each First Incremental Term Loan Lender on
the Second Amendment Effective Date, its respective First Incremental Term Loan Commitment and (iv) the other Incremental Term Loan Commitments, if any, issued after the Second Amendment Effective Date pursuant to Section 2.15, as
each may be terminated 

  
 3 

 
pursuant to Sections 4.3 and/or 11. The aggregate amount of the Term Loan Commitment as of the Closing Date is $390,000,000. The aggregate amount of the Term Loan Commitment as of
the First Amendment Effective Date is $384,150,000. The aggregate amount of the Term Loan Commitments as of the Second Amendment Effective Date is $35,000,000.” 

(iv) Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions in appropriate alphabetical order: 

““First Incremental Term Loans” means the Incremental Term Loans in an aggregate principal amount of $35,000,000 provided
to the U.S. Borrower on the Second Amendment Effective Date pursuant to Second Amendment.” 
 ““First Incremental Term Loan
Commitment” means, for each First Incremental Term Loan Lender, the amount set forth opposite its name on Annex 1 of Second Amendment.” 

““First Incremental Term Loan Lender” means each Lender or Additional Lender party to Second Amendment.” 

““Second Amendment” means Second Amendment to Credit and Guaranty Agreement, dated as of November 13, 2013, by and
among Holdings, the U.S. Borrower, the Administrative Agent and each First Incremental Term Loan Lender.” 
 ““Second
Amendment Effective Date” means November 13, 2013.” 
 (v) Section 2.1 of the Credit Agreement is hereby amended by
adding the following new clause (f) at the end thereof: 
 “(f) Subject to and upon the terms and conditions set forth herein and
in the Second Amendment, each First Incremental Term Loan Lender with a First Incremental Term Loan Commitment severally agrees to make a First Incremental Term Loan or First Incremental Term Loans to the U.S. Borrower, which First Incremental Term
Loans (i) shall be incurred pursuant to a single drawing on the Second Amendment Effective Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the U.S. Borrower, be incurred and
maintained as, and/or converted into, Base Rate Loans or LIBOR Loans, provided, that except as otherwise specifically provided in Section 2.11(b), all First Incremental Term Loans comprising the same Borrowing shall at all times
be of the same Type and (iv) shall be made by each such First Incremental Term Loan Lender in that aggregate principal amount which does not exceed the First Incremental Term Loan Commitment of such Lender on the Second Amendment Effective
Date. Once repaid, First Incremental Term Loans incurred hereunder may not be reborrowed.” 
 (vi) Section 2.4(a) of the Credit
Agreement is hereby amended by amending and restating it in its entirety as follows” 

  
 4 

 “(a) The principal amount of the Term Loans of each Term Lender shall be
repaid (i) on each Quarterly Payment Date, commencing with the last Business Day of January 2014, in an amount equal to 0.25% of the aggregate principal amount of Term Loans outstanding as of the Second Amendment Effective Date (including, for
the avoidance of doubt, the aggregate amount of 2013 Replacement Term Loans outstanding as of such date and the First Incremental Term Loans) and (ii) on the Term Loan Maturity Date, in an amount equal to the aggregate principal amount
outstanding on such date, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment.” 

(vii) Section 4.3(a) of the Credit Agreement is hereby amended by amending and restating it in its entirety as follows: 

“(a) In addition to any other mandatory commitment reductions pursuant to this Section 4.3, (i) the Total Term Loan
Commitment (and the Term Loan Commitment of each Lender) as in effect on the Closing Date shall terminate in its entirety on the Closing Date (after giving effect to the incurrence of Term Loans on such date), (ii) the Total Term Loan
Commitment (and the 2013 Replacement Term Loan Commitment of each Lender) as in effect on the First Amendment Effective Date shall terminate in its entirety on the First Amendment Effective Date (after giving effect to the incurrence of 2013
Replacement Term Loans on such date) and (iii) the Total Term Loan Commitment (and the First Incremental Term Loan Commitment of each First Incremental Term Loan Lender) as in effect on the Second Amendment Effective Date shall terminate in its
entirety on the Second Amendment Effective Date (after giving effect to the incurrence of First Incremental Term Loans on such date).” 

(viii) Section 8.15 of the Credit Agreement is hereby amended by adding the following new clause (d) at the end thereof: 

“(d) The U.S. Borrower shall use the proceeds of the First Incremental Term Loans incurred on the Second Amendment
Effective Date for any purpose not prohibited by this Agreement including to finance Permitted Acquisitions and to pay fees and expenses in connection therewith.” 

SECTION 2. Conditions of Effectiveness of this Second Amendment. 

This Second Amendment shall be binding and effective on the date when the following conditions shall have been satisfied (or waived) (such
date, the “Second Amendment Effective Date”): 
 (a) Holdings, the U.S. Borrower, the Administrative Agent and each First
Incremental Term Loan Lender shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered (including by way of facsimile or other electronic transmission) the same to White & Case LLP, 1155
Avenue of the Americas, New York, NY 10036, Attention: Katayoun C. Sadeghi (katayoun.sadeghi@whitecase.com; facsimile 

  
 5 

 
number (212) 354-8113), counsel to the Administrative Agent; 
 (b) the U.S.
Borrower shall have paid, by wire transfer of immediately available funds, (i) to DBSI, all fees due and payable pursuant to that certain engagement letter dated as of November 11, 2013 between the U.S. Borrower and DBSI and (ii) to
each First Incremental Term Loan Lender, a fee to be separately agreed. 
 (c) (i) on the Second Amendment Effective Date and after giving
effect to this Second Amendment and the incurrence of the First Incremental Term Loans, no Default or Event of Default shall have occurred and be continuing and (ii) on and as of the Second Amendment Effective Date, the representations and
warranties contained in the Credit Agreement and each other Loan Document shall be true and correct in all material respects on and as of such date as if made on and as of such date, except to the extent such representations and warranties expressly
relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date; 

(d) the U.S. Borrower shall be in compliance, on a Pro Forma Basis, with the Total Leverage Covenant as of the most recently completed period
of four consecutive fiscal quarters ending July 31, 2013, as if the First Incremental Term Loans had been outstanding and fully borrowed throughout such period (whether or not a Compliance Date occurred on July 31, 2013); provided,
that for purposes of determining compliance with the Total Leverage Covenant under this clause (d), the Net Cash Proceeds actually received by any Loan Party in respect of the First Incremental Term Loans shall not be included as cash or Cash
Equivalents for purposes of clause (ii) of the definition of Total Leverage Ratio; 
 (e) the Administrative Agent shall have received
from the U.S. Borrower a certificate executed by an Authorized Officer of the U.S. Borrower, certifying as to compliance with the requirements of preceding clauses (c) and (d), which certificate shall, with respect to the requirement of
preceding clause (d), set forth in reasonable detail calculations showing compliance with such requirement. 
 (f) the Administrative Agent
shall have received a solvency certificate from the chief financial officer of the U.S. Borrower substantially in the form of Exhibit N to the Credit Agreement, which demonstrates that Holdings and its Subsidiaries, on a consolidated basis, are, and
after giving effect to the incurrence of the First Incremental Term Loans on the Second Amendment Effective Date and the application of the proceeds thereof and the other transactions contemplated hereby, will be, Solvent 

(g) the Administrative Agent shall have received (including by telecopy or other electronic transmission) the Acknowledgment and Confirmation,
substantially in the form of Exhibit A hereto, executed and delivered by an Authorized Officer of the U.S. Borrower and each other Loan Party; 

(h) the Administrative Agent shall have received (i) a certificate of each U.S. Loan Party, dated as of the Second Amendment Effective
Date, substantially in the form of Exhibit M to the Credit Agreement, with appropriate insertions and attachments, including certified organizational authorizations, incumbency certifications, the certificate of incorporation or other similar
organizational document of each U.S. Loan Party certified by the relevant authority of the jurisdiction of organization of such U.S. Loan Party and bylaws or other similar organizational 

  
 6 

 
document of each U.S. Loan Party certified by an Authorized Officer as being in full force and effect on the Second Amendment Effective Date, and (ii) a good standing certificate for each
U.S. Loan Party from its jurisdiction of organization; and 
 (i) the Administrative Agent shall have received a customary legal opinion
from Fried, Frank, Harris Shriver & Jacobson, LLP, special counsel to the U.S. Loan Parties. 
 SECTION 3. Costs and
Expenses. The U.S. Borrower hereby reconfirms its obligations pursuant to Section 13.1 of the Credit Agreement to pay and reimburse the Administrative Agent for all reasonable out-of-pocket costs and expenses (including, without limitation,
reasonable fees of counsel) incurred in connection with the preparation, execution, delivery and administration of this Second Amendment and all other documents and instruments delivered in connection herewith. 

SECTION 4. Remedies. This Second Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and
the other Loan Documents. 
 SECTION 5. Representations and Warranties. To induce the Administrative Agent and each First Incremental
Term Loan Lender party hereto to enter into this Second Amendment, the U.S. Borrower represents and warrants to the Administrative Agent and each First Incremental Term Loan Lender party hereto, on and as of the Second Amendment Effective Date,
that, in each case: 
  

	 	(i)	this Second Amendment has been duly authorized, executed and delivered by it and each of this Second Amendment and the Credit Agreement constitute its legal, valid and binding obligation, enforceable against it in
accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or similar laws of general applicability relating to or limiting creditors’ rights generally and
subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law and (ii) the need for filings and registrations necessary to create or perfect the Liens on Collateral granted by the Loan Parties in
favor of the Collateral Agent; 

  

	 	(ii)	no Default or Event of Default exists as of the Second Amendment Effective Date, both immediately before and after giving effect to this Second Amendment; and 

 

	 	(iii)	the First Incremental Term Loans have been incurred in compliance with the requirements of Section 2.15 of the Credit Agreement. 

SECTION 6. Reference to and Effect on the Credit Agreement and the Loan Documents. 

(a) On and after the Second Amendment Effective Date, (i) each reference in the Credit Agreement to “this Agreement,”
“hereunder,” “hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by this Second Amendment; (ii) the First Incremental Term Loans shall
constitute “Term Loans” for 

  
 7 

 
all purposes under the Credit Agreement; and (iii) each First Incremental Term Loan Lender shall constitute a “Lender” as defined in the Credit Agreement. 

(b) The Credit Agreement and each of the other Loan Documents, as specifically amended by this Second Amendment, are and shall continue to be
in full force and effect and are hereby in all respects ratified and confirmed. Without limiting the generality of the foregoing, the Security Documents and all of the Collateral described therein do and shall continue to secure the payment of all
Obligations of the Loan Parties under the Loan Documents, in each case, as amended by this Second Amendment. 
 (c) The execution, delivery
and effectiveness of this Second Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any
provision of any of the Loan Documents. 
 SECTION 7. Governing Law. THIS SECOND AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK (WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES, EXCEPT FOR NEW YORK GENERAL OBLIGATIONS LAW SECTIONS 5-1401 AND 5-1402). 

SECTION 8. Counterparts. This Second Amendment may be executed in any number of counterparts and by the different parties hereto on
separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of counterparts shall be lodged with the U.S. Borrower and the
Administrative Agent. 
 SECTION 9. Electronic Execution. The words “execution,” “signed,” “signature,”
and words of like import in this Second Amendment or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be
of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic
Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

[The remainder of this page is intentionally left blank.] 

  
 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be duly executed and
delivered by their proper and duly authorized officers as of the day and year first above written. 
  

					
	U.S. BORROWER AND GUARANTOR:	 	BAKERCORP INTERNATIONAL, INC.
			
		 	By:	 	 /s/ Bob Craycraft

Name: Bob Craycraft
 Title: Chief Executive Officer

		
	HOLDINGS:	 	BAKERCORP INTERNATIONAL HOLDINGS, INC.
			
		 	By:	 	 /s/ Bob Craycraft

Name: Bob Craycraft
 Title: Chief Executive Officer

 [Signature Page to BakerCorp Second Amendment] 

 
			
	 DEUTSCHE BANK AG NEW YORK BRANCH,

as First Incremental Term Loan Lender,
 Administrative Agent and
Collateral Agent

		
	By:	 	 /s/ Eric Pratt

		 	Name: Eric Pratt
		 	Title: Director
		
	By:	 	 /s/ Omayra Laucella

		 	Name: Omayra Laucella
		 	Title: Director

 [Signature Page to BakerCorp Second Amendment] 

 ANNEX I 

FIRST INCREMENTAL TERM LOAN COMMITMENT AMOUNTS 
  

			
	Names of First Incremental Term Loan Lenders	  	Amount of First Incremental Term Loan
Commitment Amount (as of the Second
Amendment Effective Date)
	 Deutsche Bank AG New York Branch
	  	$35,000,000

 EXHIBIT A 

FORM OF ACKNOWLEDGMENT AND CONFIRMATION 

1. Reference is made to the Second Amendment to Credit and Guaranty Agreement, dated as of November 13, 2013, by and among BAKERCORP
INTERNATIONAL HOLDINGS, INC., a Delaware corporation (“Holdings”), BAKERCORP INTERNATIONAL, INC., a Delaware corporation (the “U.S. Borrower”), DEUTSCHE BANK AG NEW YORK BRANCH, as administrative agent (in such
capacity, the “Administrative Agent”), as collateral agent (in such capacity, the “Collateral Agent”), and each First Incremental Term Loan Lender. Capitalized terms used in this Acknowledgment and Confirmation
(this “Acknowledgment”) but not otherwise defined shall have the meanings set forth in the Credit Agreement or the Second Amendment, as applicable. 

2. Certain provisions of the Credit Agreement are being amended and/or modified pursuant to the Second Amendment. Each of the parties hereto
hereby agrees, with respect to each Loan Document to which it is a party, after giving effect to the Second Amendment: 
 (a)
all of its Obligations, including obligations (whether direct, as a Guarantor or otherwise), liabilities and indebtedness under such Loan Document, shall remain in full force and effect on a continuous basis; and 

(b) all of the Liens and security interests created and arising under such Loan Document remain in full force and effect on a
continuous basis, and the perfected status and priority (including to the extent provided for in Section 6.19 of the Credit Agreement) of each such Lien and security interest continues in full force and effect on a continuous basis, unimpaired,
uninterrupted and undischarged, as collateral security for its Obligations, including obligations, liabilities and indebtedness under the Credit Agreement and under its guarantees in the Loan Documents, and all Mortgages, UCC financing statements
and all other recordings and filings previously made, recorded or filed are intended to and do secure and perfect all of its Obligations, in each case to the extent provided in such Loan Documents; 

3. Each Loan Party represents and warrants to the Administrative Agent and the First Incremental Term Loan Lenders, on and as of the Second
Amendment Effective Date, that: 
 (a) this Acknowledgment has been duly authorized, executed and delivered by it and each of
this Acknowledgment and the Credit Agreement constitute its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium or similar laws of general applicability relating to or limiting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law and
(ii) the need for filings and registrations necessary to create or perfect the Liens on Collateral granted by the Loan Parties in favor of the Collateral Agent; 

 (b) no Default or Event of Default exists as of the Second Amendment Effective
Date, both immediately before and after giving effect to this Second Amendment; and 
 (c) the First Incremental Term Loans
have been incurred in compliance with the requirements of Section 2.15 of the Credit Agreement. 
 4. THIS ACKNOWLEDGMENT AND
CONFIRMATION AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK (WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES, EXCEPT FOR NEW YORK GENERAL OBLIGATIONS LAW
SECTIONS 5-1401 AND 5-1402). 
 5. This Acknowledgment and Confirmation may be executed by one or more of the parties hereto on any number
of separate counterparts (including by telecopy or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 

[The remainder of this page is intentionally left blank.] 

 IN WITNESS WHEREOF, the parties hereto have caused this Acknowledgment and Confirmation to be
duly executed as of the day and year first above written. 
  

					
	U.S. BORROWER AND GUARANTOR:	 	BAKERCORP INTERNATIONAL, INC.
			
		 	By:	 	  

		 		 	 Name
 Title:

		
	EUROPEAN BORROWER:	 	BC INTERNATIONAL HOLDINGS C.V.
			
		 	By:	 	 BAKERCORP INTERNATIONAL MANAGEMENT LLC,
 its
general partner

			
		 	By:	 	BAKERCORP, its sole member
			
		 	By:	 	  

		 		 	 Name
 Title:

		
	GUARANTORS:	 	BAKERCORP INTERNATIONAL HOLDINGS, INC.
			
		 	By:	 	  

		 		 	 Name
 Title:

		
		 	FTT HOLDINGS, INC.
			
		 	By:	 	  

		 		 	 Name
 Title:

 [Signature Page to BakerCorp Acknowledgement and Confirmation] 

 
			
	BAKERCORP
		
	By:	 	  

		 	 Name
 Title:

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