Document:

EX-10.4

 Exhibit 10.4 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this
“Agreement”) is dated as of March 24, 2016 by and between Banc of California, Inc., a Maryland corporation (the “Company” and, together with its subsidiaries and affiliates, including Banc of California, N.A.
(the “Bank”), “Employer”), and Brian Kuelbs (“Employee”). 
 WHEREAS,
Employer desires to employ Employee and Employee desires to be employed by Employer upon the terms and subject to the conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereby agree as follows: 
 1. Employment. Employer hereby agrees to employ Employee, and Employee hereby accepts employment with Employer upon the terms and conditions herein set forth. 

2. Term. The term of employment under this Agreement shall begin on April 1, 2016 (the “Commencement Date”)
and shall expire on April 1, 2018 (the “Term End Date”), unless terminated sooner as hereinafter provided or unless extended as provided in the next sentence. Commencing on the Term End Date, and on each annual anniversary of
such date (such date and each annual anniversary thereof, the “Renewal Date”), unless previously terminated, the term of this Agreement shall be extended for one additional year, unless either party notifies the other party at least
ninety (90) days prior to the applicable Renewal Date that the term shall not be so extended. Reference herein to the term hereunder shall refer to both the initial term and any extended term hereunder. 

3. Duties. During the term of this Agreement: 
  

	 	(a)	Employee shall be employed by Employer on a full-time basis as Executive Vice President with such authority, duties and responsibilities as reasonably may be assigned
to Employee by Employer from time to time, which shall initially consist of the position as Chief Investment Officer reporting directly to the Chief Executive Officer of the Company, and shall perform such other duties and responsibilities on behalf
of Employer and its affiliates as reasonably may be directed by the Board of Directors of the Company (the “Board”); and 

  

	 	(b)	 Employee shall devote his full business time, energy, and skill to the business of Employer and to the promotion of Employer’s best interests,
except for vacations and absences made necessary because of illness; provided, however, that it shall not be a violation of this Agreement for Employee to, either for free or for personal compensation, subject to Section 11, his
fiduciary duties to the Company and the Bank, and his compliance with the Company’s policies and procedures in effect from time to time applicable to employees of either the Company or the Bank with respect to actual or potential conflicts of
interest, including, without limitation, the Code of Business Ethics and Conduct, serve as a director of 

	 	
any entity that has been previously disclosed to and approved by the Board. 

 4. Compensation. During the term of this Agreement: 
  

	 	(a)	Employee shall be paid a base salary at the rate of $500,000 per annum (“Annual Base Salary”), payable in accordance with Employer’s normal
payroll practices (but not less frequently than monthly), as such practices may be determined from time to time, and subject to customary tax withholdings. The Compensation Committee of the Board (the “Committee”) will review the
Annual Base Salary at least annually and, in its discretion, may increase such salary; provided, however, that, at the point in time that the Company’s consolidated assets shall first exceed $10 billion, as determined on
the basis of the Company’s quarterly or annual financial statements, the Committee shall consider increasing the Annual Base Salary to $600,000 per annum, which increase shall be subject to the Committee’s sole discretion.

  

	 	(b)	Employee shall be eligible to receive an annual bonus, determined in the sole discretion of the Committee (“Annual Bonus”), with respect to each fiscal
year during the term, with an annual target bonus equal to 100% of the Annual Base Salary in effect as of the beginning of such fiscal year (the “Target Bonus”); provided, however, that the actual Annual Bonus may be
higher or lower than the Target Bonus and shall be prorated for any partial year. 

  

	 	(c)	Employee shall be eligible to receive, effective as of the Commencement Date, a grant under the Company’s 2013 Omnibus Stock Incentive Plan (the “Omnibus
Incentive Plan”) of performance-based non-qualified options, subject to performance objectives comparable to similarly situated executive officers of the Company, to acquire 120,000 shares of the Company’s common stock (the
“Signing Grant”). The Signing Grant, including any applicable vesting requirements, shall be governed by the terms and conditions of the award agreement and the form of grant as prescribed under the Omnibus Incentive Plan, and shall
vest in equal installments over a term of five (5) years, subject to Employee’s continuous service over the vesting period, which vesting shall commence upon April 1, 2017 and continue until the Signing Grant shall become fully vested
on April 1, 2022. 

  

	 	(d)	Employee shall be eligible for additional or special compensation, such as equity awards, incentive pay or bonuses, based upon Employee’s performance as the
Committee may in its discretion from time to time determine. Any amounts payable under this Section 4(c) that constitute “nonqualified deferred compensation” within the meaning of Section 409A (as defined in Section 14(a))
shall be subject to such terms or conditions that satisfy the applicable requirements of Section 409A. 

  
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 All such payments, and any other compensation provided by Employer to Employee, whether
under this Agreement or otherwise, will be subject to such deductions and clawback (recovery) as may be required to be made pursuant to law, government regulation, order, stock exchange listing requirement (or any policy of Employer adopted pursuant
to any such law, government regulation, order or stock exchange listing requirement) or by agreement with, or consent of, Employee. 
 5. Automobile and Other Expenses. During the term of this Agreement, Employer shall lease and allow Employee use of, one (1) new-condition Chevy Volt or such other automobile as determined in
the discretion of the Company (the “Automobile”). Employee shall be solely responsible for all fuel, maintenance and other similar charges associated with Employee’s personal non-business use of the Automobile. Employee shall
obtain and constantly maintain in good standing, at Employer’s expense, a comprehensive automobile liability policy in a form reasonably acceptable to Employer (the “Policy”). Employee shall cause the insurance provider of the
Policy to list Employer as an additional insured and Employee shall provide Employer with a certificate evidencing the Policy. Any damage or liability caused or associated with Employee’s use of the Automobile shall be the sole responsibility
of Employee. At the conclusion of the term of this Agreement or the expiration of the lease of the Automobile, whichever occurs first, Employee shall promptly return the Automobile to Employer in good condition, normal wear and tear excepted.
Employee shall be reimbursed for other expenses incurred in connection with Employer’s business in accordance with Employer’s expense reimbursement policy for senior executives. 

6. Benefits. Employee shall be entitled to participate in such life insurance, medical, dental, pension, supplemental disability,
retirement plans and other programs as may be approved from time to time by Employer for the benefit of its executive employees. 
 7. Flexible Time Off. Employee shall be entitled to take off as much time as needed or as appropriate (“FTO”), consistent with his professional responsibilities and business needs;
provided that Employee is meeting his work responsibilities; and provided, further, that he is demonstrating a level of commitment and conscientiousness that is sufficient to satisfy his professional responsibilities to
Employer. Employee will receive his usual base salary during approved FTO unless Employee is on an extended leave that is unpaid pursuant to Employer’s employee handbook or applicable law (e.g., FMLA, CFRA or other extended leave). Because FTO
is not an accrued benefit, Employee will not be eligible for a payout of FTO at the time of separation from Employer, regardless of the reason for the separation. 
 8. Termination. 
  

	 	(a)	Employee’s employment with Employer shall automatically be terminated (i) by reason of Employee’s death or (ii) by reason of Employee’s
becoming permanently disabled for purposes of Employer’s long-term disability program. 

  

	 	(b)	 Employer may terminate Employee’s employment hereunder for any reason, with or without Cause, at any time upon notice to Employee, but any
termination by Employer other than termination with Cause shall not 

  
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prejudice Employee’s right to compensation or other benefits under this Agreement. 

  

	 	(c)	Employee may terminate his employment hereunder without Good Reason at any time upon sixty (60) days’ prior written notice to Employer. Given the importance
of Employee’s position with Employer, Employee’s access to and use of confidential information, and the irreparable harm that Employee’s departure would likely cause to Employer, its customer relationships, and its business
opportunities, Employee agrees that, during the period (the “Notice Period”) commencing on the date on which Employer receives notice of Employee’s termination of his employment without Good Reason (the “Notice
Date”) and ending on the earlier of (i) sixty (60) days following the Notice Date and (ii) such earlier date as designated by Employer (the “Separation Date”), Employee shall remain an employee of Employer
and shall not be free to begin an employment relationship with another entity, absent Employer’s authorized written consent. During the Notice Period, Employer shall continue to pay Employee a base salary in accordance with its regular salary
practices and Employee shall be entitled to participate in Employer’s benefit plans to the extent permitted by such plans and applicable law. During the Notice Period, Employer reserves the right to (A) change or remove any of
Employee’s duties, (B) require Employee to remain away from Employer’s premises, and/or (C) take such other action as determined by Employer to aid and assist in the transition process associated with Employee’s departure.
During the Notice Period, Employee shall continue to act in a manner consistent with this Agreement and his duty of loyalty to Employer. Employer may waive or terminate the Notice Period at any time and for any reason or for no reason, in which case
the Separation Date shall be the date on which Employer notifies Employee of such waiver or termination. 

  

	 	(d)	Employee may terminate his employment with Good Reason within ninety (90) days following the occurrence of any condition constituting Good Reason; provided
that (i) Employee has first provided notice to Employer specifying in reasonable detail the condition giving rise to the Good Reason, (ii) Employee has provided Employer with a period of thirty (30) days to remedy the condition (and
the notice so specifies), and (iii) Employer has failed to remedy the condition within this thirty (30)-day period. 

  

	 	(e)	Employer and Employee may terminate Employee’s employment with Employer pursuant to Section 2. 

9. Severance Benefits. 
  

	 	(a)	In the event of the termination of Employee’s employment, for any reason, Employee shall be entitled to any Accrued Obligations. 

  
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	 	(b)	In the event that Employer terminates Employee’s employment without Cause or Employee resigns with Good Reason, subject to Section 9(c) and Employee’s
compliance with Sections 10, 11, and 12, Employee shall be entitled to severance pay in an amount equal to the Annual Base Salary in effect on the Commencement Date multiplied by the number of years or partial years remaining prior to the Term
End Date (as it may be extended pursuant to Section 2), payable in twenty-four (24) equal monthly installments commencing on the first business day coincident with or next following the sixtieth (60th) calendar date following
Employee’s termination of employment. If Employee dies during such twenty-four (24)-month period, all remaining eligible benefits under this section shall be paid to Employee’s designated beneficiary (or if no beneficiary has been
designated, then to Employee’s estate). 

  

	 	(c)	Any severance pay to be paid pursuant to Section 9(b) is subject to and conditioned upon Employee signing and delivering (and not revoking) to Employer a general
release and waiver (in a form reasonably acceptable to Employer), waiving all claims Employee may have against Employer, its parents, subsidiaries, successors, assigns, affiliates, and their respective executives, officers and directors relating to
Employee’s employment with Employer. 

  

	 	(d)	Notwithstanding any other provision of this Agreement to the contrary, if payments under this Agreement, together with any other payments received or to be received by
Employee in connection with a “change in control” (for purposes of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”)) would cause any amount payable to Employee to be nondeductible for federal
income tax purposes pursuant to Section 280G of the Code, then the payments and benefits under this Agreement shall be reduced (but not to an amount less than zero) to the extent necessary so as to maximize payments to Employee without causing
any amount to become nondeductible. Employee shall determine the allocation of such reduction among payments to Employee. 

  

	 	(e)	Notwithstanding any other provision of this Agreement to the contrary, any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and
conditioned upon their compliance with 12 U.S.C. § 1828(k) and any regulations promulgated thereunder, including 12 C.F.R. Part 359. 

  

	 	(f)	For purposes of this Agreement: 

  

	 	(A)	 “Accrued Obligations” means (i) any base salary that Employee has earned but not been paid during or prior to Employee’s
termination of employment, (ii) any business expenses that are reimbursable under Section 5 that were incurred by Employee as of Employee’s termination of employment but have not been

  
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reimbursed on the date of termination, subject to the submission of any required substantiation and documentation, and (iii) any payments or benefits to which Employee or his beneficiary or
estate is entitled under the terms of any applicable employee benefit plan. 

  

	 	(B)	“Cause” means Employee’s personal dishonesty, incompetence, willful misconduct, breach of a fiduciary duty involving personal profit, intentional
failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. Employee shall not be
deemed to have been terminated with Cause unless and until there shall have been delivered to Employee a copy of a resolution, duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board at a meeting or
meetings of the Board called and held for such purpose (after reasonable notice to Employee and an opportunity for Employee, together with Employee’s counsel, to be heard before the Board), stating that in the good faith opinion of the Board,
Employee has engaged in conduct described in the preceding sentence and specifying the particulars thereof in detail. For purposes of this section, the term “incompetence” shall mean inability, as determined by the Board in its reasonable
judgment, to perform stated duties. 

  

	 	(C)	“Good Reason” means the occurrence of any of the following without Employee’s express written consent: 

 

	 	(1)	assignment to Employee of a title other than Executive Vice President; 

  

	 	(2)	unless required by regulatory authorities, reduction of the Annual Base Salary of Employee; 

 

	 	(3)	a material breach this Agreement by Employer; or 

  

	 	(4)	a requirement that Employee relocate his principal business office outside of the Los Angeles-Orange County metropolitan areas. 

10. Nonsolicitation. 
  

	 	(a)	 Unless otherwise agreed in writing, during the term of this Agreement, and for a period of twenty-four (24) months following a termination of
Employee’s employment with Employer entitling Employee to severance pay under Section 9(b), Employee shall not induce or attempt to induce any individual or entity who was an employee, agent or independent contractor of Employer or any of
its affiliates during the period of 

  
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Employee’s employment hereunder to discontinue providing services to Employer or any of its affiliates. 

 

	 	(b)	Unless otherwise agreed in writing, during the term of this Agreement, and for a period of twenty-four (24) months following a termination of Employee’s
employment with Employer entitling Employee to severance pay under Section 9(b), Employee shall not, and will not assist any other person to (i) hire or solicit for hiring any employee of Employer or any of its affiliates or seek to
persuade any employee of Employer or any of its affiliates to discontinue employment or (ii) solicit or encourage any independent contractor providing services to Employer or any of its affiliates to terminate or diminish its relationship with
them. 

 11. Nondisclosure of Confidential Information. Employee acknowledges that Employer and its
affiliates may disclose confidential information to Employee during the term of this Agreement to enable him to perform his duties hereunder. Employee hereby covenants and agrees that, except as required by law, regulatory directive or judicial
order, he will not, without the prior written consent of Employer, during the term of this Agreement or at any time thereafter, disclose or permit to be disclosed to any third party by any method whatsoever any of the confidential information of
Employer or any of its affiliates. For purposes of this Agreement, “confidential information” shall include, but not be limited to, any and all records, notes, memoranda, data, ideas, processes, methods, techniques, systems,
formulas, patents, models, devices, programs, computer software, writings, research, personnel information, customer information, financial information of Employer or any of its affiliates, plans, or any other information of whatever nature in the
possession or control of Employer which has not been published or disclosed to the general public, or which gives to Employer or any of its affiliates an opportunity to obtain an advantage over competitors who do not know of or use it. Employee
further agrees that if his employment hereunder is terminated for any reason, he will leave with Employer and will not take originals or copies of any and all records, papers, programs, computer software and documents and all matter of whatever
nature containing secret or confidential information of Employer or any of its affiliates. The foregoing covenants will not prohibit Employee from disclosing confidential or other information to other employees of Employer or to third parties to the
extent that such disclosure is necessary to the performance of his duties under this Agreement. 
 12. Intellectual
Property. Employee agrees promptly to reduce to writing and to disclose and assign, and hereby does assign, to Employer, its subsidiaries, successors, assigns and nominees, all inventions, discoveries, improvements, copyrightable material,
trademarks, programs, computer software and ideas concerning the same, capable of use in connection with the business of Employer or any of its affiliates, which Employee may make or conceive, either solely or jointly with others, during the period
of his employment by Employer, its subsidiaries or successors. Employee agrees, at Employer’s expense, that upon a request by Employer, to execute, acknowledge and deliver to Employer all such papers, including applications for patents,
applications for copyright and trademark registrations, and assignments thereof, as may be necessary, and at all times to assist Employer, its parent, subsidiaries, successors, assigns and nominees in every proper way to patent or register said
programs, computer software, ideas, inventions, discoveries, improvements, copyrightable material or trademarks in any and all 

  
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countries and to vest title thereto in Employer, its parent, subsidiaries, successors, assigns or nominees. Upon a request by Employer, Employee will promptly report to Employer all discoveries,
inventions or improvements of whatsoever nature conceived or made by him at any time he was employed by Employer, its parent, subsidiaries or successors. All such discoveries, inventions and improvements which are applicable in any way to
Employer’s business shall be the sole and exclusive property of Employer. 
 13. Additional Remedies. Employee
recognizes that his services hereunder are of a personal, special, unique and extraordinary character and irreparable injury will result to Employer and to its business and properties in the event of any breach by Employee of any of the provisions
of Sections 10, 11 or 12, and that Employee’s continued employment is predicated on the commitments undertaken by him pursuant to such Sections. In the event of any breach of any of Employee’s commitments pursuant to Sections 10,
11 and 12, Employer shall be entitled, in addition to any other remedies and damages available, to injunctive relief to restrain the violation of such commitments by Employee or by any person or persons acting for or with Employee in any capacity
whatsoever. 
 14. Section 409A. 
  

	 	(a)	Notwithstanding anything to the contrary in this Agreement, if at the time of Employee’s termination of employment, Employee is a “specified employee”
within the meaning of Section 409A of the Code and the regulations and guidance of general applicability issued thereunder (“Section 409A”), any and all amounts payable under Section 9(b) that constitute
“nonqualified deferred compensation” under Section 409A and would (but for this provision) be payable within six (6) months following the date of termination, shall instead be paid on the next business day following the
expiration of such six (6)-month period or, if earlier, upon Employee’s death, in each case, with interest from the date on which payment would otherwise have been made, calculated at the applicable federal rate provided under
Section 7872(f)(2)(A) of the Code. If Employee receives compensation under Section 9 that can in part be treated as paid under a “separation pay plan” described in Treasury Regulations Section 1.409A-1(b)(9), then, to the
extent permitted under Section 409A, such compensation shall be treated as first made from the separation pay plan. 

  

	 	(b)	For purposes of Section 9, all references to “termination of employment” and correlative phrases shall be construed to require a “separation from
service” (as defined in Treasury Regulations Section 1.409A-1(h) after giving effect to the presumptions contained therein). 

  

	 	(c)	Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement shall be treated as
a right to a series of separate payments. 

  
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	 	(d)	Any amount that Employee is entitled to be reimbursed or to have paid on his behalf under this Agreement that would constitute nonqualified deferred compensation
subject to Section 409A shall be subject to the following additional rules: (i) no reimbursement of any such expense shall affect Employee’s right to reimbursement of any such expense in any other taxable year; (ii) reimbursement
of the expense shall be made, if at all, promptly, but not later than the end of the calendar year following the calendar year in which the expense was incurred; and (iii) the right to reimbursement shall not be subject to liquidation or
exchange for any other benefit. 

 15. Adjustments to Comply with Final Interagency Guidance on Sound Incentive
Compensation Policies. Notwithstanding anything herein to the contrary, the compensation or benefits provided under this Agreement are subject to modification, as necessary to comply with requirements imposed by the Company’s Board of
Directors to comply with the “Final Interagency Guidance on Sound Incentive Compensation Policies” issued on an interagency basis by the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance
Corporation and the Office of Thrift Supervision, effective June 25, 2010, or any amendment, modification or supplement thereto, which shall be deemed to include, without limitation, any rules adopted pursuant to Section 956 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act. 
 16. Provisions Required By Law. Notwithstanding anything
herein to the contrary, any provisions that are now or are in the future required by applicable law, rule, regulation or regulatory guidance or policy of general applicability to be included in this Agreement that are not expressly stated herein
(including, without limitation, any provisions so required under 12 C.F.R. Section 163.39) shall be deemed to be a part of this Agreement as fully as if such provisions were expressly stated herein. 

17. No Duplication of Employer Obligations. With respect to any payments or other compensation to be provided hereunder by
Employer, the provision of such payments or other compensation by any subsidiary or affiliate of the Company shall be deemed to reduce, to the same extent, the obligation of the Company to provide such payments or other compensation, and vice versa.

 18. Assignment; Benefit. No party shall have the right to assign this Agreement or any rights or obligations hereunder
without the consent of the other party; provided, however, that Employer may assign its rights and obligations hereunder (i) to any entity controlled by, under the control of, or under common control with, Employer (as long as
such entity is no less capable of fulfilling the obligations of Employer hereunder), or (ii) to any successor to Employer upon any liquidation, dissolution or winding up of Employer, upon any merger or consolidation of Employer or upon any sale
of all or substantially all of the assets of Employer (as long as such successor is capable of fulfilling the obligations of Employer hereunder). 
 19. Waiver. Failure of any party hereto at any time to require performance by any other party of any provision of this Agreement shall in no way affect the rights of such first party to require
performance of that provision, and any waiver by any party hereto of any provision of 

  
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this Agreement shall not be construed as a waiver of any continuing or succeeding breach of such provision, a waiver of the provision itself, or a waiver of any rights under this Agreement.

 20. Severability. If any clause, phrase, provision or portion of this Agreement or the application thereof to any
person or circumstance shall be invalid or unenforceable under any applicable law, such event shall not affect or render invalid or unenforceable the remainder of this Agreement and shall not affect the application of any clause, provision or
portion hereof to other persons or circumstances. 
 21. Benefits. The provisions of this Agreement shall inure to the
benefit of Employer, its successors and assigns, and shall be binding upon Employer and Employee, its and his heirs, personal representatives and successors, including, without limitation, Employee’s estate and the executors, administrators or
trustees of such estate. 
 22. Governing Law. To the extent not governed by the federal laws of the United States of
America, this Agreement shall be construed and enforced in accordance with the laws of the State of California. Any dispute between the parties hereto not relating to the enforcement of Section 10, 11 or 12 shall be settled by arbitration in
California in accordance with the then applicable rules of the American Arbitration Association and judgment upon the award rendered may be entered in any court having jurisdiction thereof. 

23. Notices. All notices, requests, demands and other communications in connection with this Agreement shall be made in writing
and shall be deemed to have been given when delivered by hand or two (2) business days after mailing at any general or branch United States Post Office, by registered or certified mail postage prepaid, addressed as follows, or to such other
address as shall have been designated in writing by the addressee: 
 If to Employer: 

Banc of California, Inc. 
 18500 Von Karman, Suite 1100 
 Irvine, California 92612 

Attention: General Counsel 
 If to Employee: 
 At Employee’s last address in the records of Employer.

 24. Entire Agreement. This Agreement sets forth the entire understanding of the parties and supersedes all prior
agreements, arrangements, and communications, whether oral or written, pertaining to the subject matter hereof (including, without limitation, the Offer Letter, dated as of July 28, 2015, by and between Employer and Employee), and this
Agreement shall not be modified or amended except by written agreement of Employer and Employee. 
 25. Captions. The
headings and captions hereof are for convenience only and shall not affect the construction of this Agreement. 

  
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 26. Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed an original and all of which shall constitute but one and the same instrument. 
 27. Construction.
Employer and Employee acknowledge that this Agreement was the result of arms-length negotiations between sophisticated parties, each represented by legal counsel. Each and every provision of this Agreement shall be construed as though both parties
participated equally in the drafting of same, and any rule of construction that a document shall be construed against the drafting party shall not be applicable to this Agreement. 

28. Survival. The obligations contained in this Agreement shall survive the termination of Employee’s employment with
Employer or expiration of this Agreement as necessary to carry out the intentions of the parties as described herein. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first set
forth above. 
  

			
	BANC OF CALIFORNIA, INC.
		
	By:	 	 /s/ Steven A. Sugarman

	Name: Steven A. Sugarman
	Title:   Chairman, President and Chief Executive Officer

  

	
	EMPLOYEE
	
	 /s/ Brian Kuelbs

	Brian Kuelbs

  
 [Signature
Page to Kuelbs Employment Agreement]EX-10.5

 Exhibit 10.5 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This AMENDED AND RESTATED EMPLOYMENT AGREEMENT, by and between Banc of California, National Association, a national banking association
(“Bank” or “Employer”) and J. Francisco A. Turner (the “Executive,” and, together with Bank and Employer, either a “Party” or collectively the “Parties”) is dated
as of March 24, 2016 (this “Agreement”). 
 WHEREAS, Employer and the Executive previously entered into that certain
employment agreement dated as of January 6, 2014 (the “Prior Agreement”); and 
 WHEREAS, Employer and the Executive
desire to enter into this Agreement in order to amend, restate and supersede the Prior Agreement and thereby reflect the revised terms of employment to which the Parties now wish to agree. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, and for other good and valuable consideration,
Employer and the Executive hereby agree as follows: 
 1. Effective Date. The “Effective Date” shall mean
April 1, 2016. 
 2. Employment Period. Employer hereby agrees to employ the Executive, and the Executive hereby agrees to serve
Employer, subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the April 1, 2019 (the “Employment Period”); provided, however, that, commencing on
April 1, 2019, and on each annual anniversary of such date (such date and each annual anniversary thereof, the “Renewal Date”), unless previously terminated, the Employment Period shall automatically be extended by two years so
as to terminate two years from such Renewal Date, unless, at least 90 days prior to the Renewal Date, Employer shall give notice to the Executive that the Employment Period shall not be so extended. 

3. Terms of Employment. 
 (a)
Position and Duties. 
 (i) During the Employment Period, the Executive shall serve as Executive Vice President, Chief Strategy Officer,
with such duties and responsibilities as are customarily assigned to such position. The Executive shall report directly to the Chief Executive Officer and President of Bank (the “Bank CEO”) and/or such other officers of Bank and/or
Banc of California, Inc., a Maryland corporation and wholly owning parent holding company of Bank (“Bancorp”), as determined by the board of directors of Bank (the “Bank Board”) from time to time. The
Executive’s duties will initially also include oversight of the Financial Institutions Bank. If the Executive serves on either the board of directors of Bancorp (the “Bancorp Board”) and/or the Bank Board during the Employment
Period (which shall be subject to election by the shareholders of Bancorp and Bank, respectively, and subject to each of Bancorp’s and Bank’s ordinary course director nomination processes and policies), the Executive agrees that
(A) he shall so serve without compensation for his service as a director and (B) shall not serve on any committee of either such boards of directors for which independence is necessary or, as

 
determined by the Chair of the Bancorp Board or the Chair of the Bank Board, respectively, in his or her sole discretion, advisable. During the Employment Period, the Executive shall be provided
with an office at the corporate headquarters. 
 (ii) During the Employment Period, and excluding any periods of vacation and sick leave to
which the Executive is entitled under this Agreement, the Executive shall be employed by Employer on a full-time basis and agrees to devote such time as is necessary to discharge the responsibilities assigned to the Executive hereunder and to use
the Executive’s reasonable best efforts to perform such responsibilities faithfully and efficiently. During the Employment Period, it shall not be a violation of this Agreement for the Executive to, either for free or for personal compensation,
(A) serve on corporate, civic or charitable boards or committees, (B) deliver lectures, fulfill speaking engagements or teach at educational institutions, (C) manage personal investments and personal investment companies, and
(D) subject to Section 8, his fiduciary duties to Bancorp and Bank, and his compliance with Employer’s policies and procedures in effect from time to time applicable to employees of either Bancorp or Bank with respect to actual or
potential conflicts of interest, including, without limitation, the Code of Business Ethics and Conduct, attend to other business matters, so long as such activities do not materially interfere with the performance of the Executive’s
responsibilities as an employee of Employer in accordance with this Agreement. 
 (b) Compensation. 

(i) Base Salary. During the Employment Period, the Executive shall receive an annual base salary (“Annual Base
Salary”) at a rate of not less than $500,000 payable in accordance with Employer’s normal payroll policies. The Executive’s Annual Base Salary shall be reviewed for increase at least annually by the Bank Board, the Bancorp Board
and/or the Compensation Committee of the Bancorp Board (the “Compensation Committee”) pursuant to normal performance review policies. The Annual Base Salary shall not be reduced after any increase and the term “Annual Base
Salary” as utilized in this Agreement shall refer to Annual Base Salary as so increased. 
 (ii) Annual Bonus. With respect to
each fiscal year ending during the Employment Period, the Executive shall be eligible to receive an annual bonus (“Annual Bonus”) in the form of an award under the Banc of California, Inc. 2013 Omnibus Incentive Plan (or its
successor) (the “Plan”) based on the attainment of performance objectives determined and established by the Compensation Committee, taking into account, as appropriate, the criteria deemed relevant related to performance of Bank,
with an annual target bonus of 100% of such Annual Base Salary (the “Target Bonus”), prorated for any partial year. The actual Annual Bonus, which could be higher or lower than the Target Bonus, shall be paid in accordance with
customary practice in cash or in equity awards with respect to shares of Bancorp common stock (including restrictive covenants) that are substantially consistent with the terms of equity awards granted under the Plan to employees of Employer in the
ordinary course of business consistent with past practice, as determined by the Compensation Committee in its discretion; provided, however, that no more than 50% of the actual Annual Bonus for any year shall be paid in the form of
equity awards. 

  
 -2- 

 (iii) Incentive Bonus. With respect to each fiscal year ending during the Employment
Period, the Executive shall be entitled to receive, in addition to the Annual Bonus, an annual incentive bonus (“Incentive Bonus”) in the form of an award under the Plan based upon attainment of performance objectives and metrics
determined and established by the Compensation Committee, taking into account, as appropriate, the criteria deemed relevant related to performance of Bancorp, with an annual target incentive bonus of 100% of the Annual Bonus actually received by the
Executive for such fiscal year (“Target Incentive Bonus”), prorated for any partial year. The actual Incentive Bonus, which could be higher or lower than the Target Incentive Bonus, shall be paid in accordance with customary
practice in cash and in equity awards with respect to shares of Bancorp common stock on terms (including restrictive covenants) that are substantially consistent with the terms of equity awards granted under the Plan to employees of Employer in the
ordinary course of business consistent with past practice, as determined by the Compensation Committee in its discretion; provided, however, that no more than 50% of the actual Incentive Bonus for any year shall be paid in the form of
equity awards. 
 (iv) Initial Equity Award. Promptly following the date of this Agreement, Bancorp shall grant to the Executive
50,000 restricted shares of Bancorp common stock, subject to performance objectives comparable to similarly situated executive officers of the Company, which shares shall vest in equal annual installments of up to 10,000 shares each over five
(5) years, commencing on April 1, 2017 and continuing until fully vested on April 1, 2021, subject to the Executive’s continued employment with Employer through each applicable vesting date. 

(v) Clawback. For three years following the grant of any such equity payments or other equity compensation, all equity payments or
other equity compensation provided to the Executive under this Agreement shall be subject to such deductions and clawback (recovery) as may be required to be made pursuant to law, government regulation, order, stock exchange listing requirement (or
any policy of Employer (A) in effect from time to time generally applicable to executives of the Bank or (B) adopted pursuant to any such law, government regulation, order or stock exchange listing requirement) or by agreement with, or
consent of, the Executive. 
 (vi) Equity Awards. During the Employment Period, the Executive shall be eligible to participate in
Bancorp’s equity compensation plans as may be in effect from time to time. 
 (vii) Flexible Time Off. The Executive shall be
entitled to take off as much time as needed or as appropriate (“FTO”), consistent with his professional responsibilities and business needs; provided that the Executive is meeting his work responsibilities; and
provided, further, that he is demonstrating a level of commitment and conscientiousness that is sufficient to satisfy his professional responsibilities to Employer. The Executive will receive his usual base salary during approved FTO,
unless the Executive is on an extended leave that is unpaid pursuant to Employer’s employee handbook or applicable law (e.g., FMLA, CFRA, or other extended leave). Because FTO is not an accrued benefit, the Executive will not be eligible for a
payout of FTO at the time of separation from Employer, regardless of the reason for the separation. 

  
 -3- 

 (viii) Other Employee Benefit Plans. During the Employment Period, the Executive and/or
the Executive’s family, as the case may be, shall be eligible for participation in all benefits under all plans, practices, policies and programs provided by Employer on a basis that is no less favorable than those generally applicable or made
available to executives of Employer. The Executive shall be eligible for participation in fringe benefits and perquisite plans, practices, policies and programs (including, without limitation, expense reimbursement plans, practices, policies and
programs, as well as supplemental executive disability insurance benefits and vehicle policies or vehicle allowances) on a basis that is no less favorable than those generally applicable or made available to executives of Employer; provided
that business travel, meal expenses and business accommodations shall be in the Executive’s reasonable discretion and shall include premium cabin air travel. 

(ix) Beneficiaries. From time to time, by signing a form furnished by Employer, the Executive may designate any legal or natural
person or persons (who may be designated contingently or successively) to whom to transfer any outstanding equity awards held by the Executive at the time of his death. If the Executive fails to designate a beneficiary as provided above, or if the
designated beneficiary dies before the Executive or before complete payment or settlement of the outstanding equity awards, the outstanding equity awards held by the Executive shall be transferred to the Executive’s estate. For purposes of this
Agreement, the term “designated beneficiary” means the person or persons designated by the Executive as his beneficiary in the last effective beneficiary designation form filed with Employer, or if the Executive has failed to designate a
beneficiary, the Executive’s estate. 
 4. Termination of Employment. 

(a) Death or Disability. The Executive’s employment shall terminate automatically upon the Executive’s death during the
Employment Period. If Employer determines in good faith that the Disability of the Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may provide the Executive with written notice in
accordance with Section 10(b) of its intention to terminate the Executive’s employment. In such event, the Executive’s employment with Employer shall terminate effective on the 30th day after receipt of such notice by the Executive
(the “Disability Effective Date”); provided that, within 30 days after such receipt, the Executive shall not have returned to full-time performance of the Executive’s duties. For purposes of this Agreement,
“Disability” shall mean the absence of the Executive from the Executive’s duties with Employer on a full-time basis for 90 consecutive, or a total of 180 days in any 12-month period, as a result of incapacity due to
mental or physical illness which is determined to be total and permanent by a physician selected by Employer or its insurers and acceptable to the Executive or the Executive’s legal representative. 

(b) Cause. Employer may terminate the Executive’s employment during the Employment Period either with or without Cause. For
purposes of this Agreement, “Cause” shall mean: 
 (i) the Executive is convicted of, or pleads guilty or nolo
contendere to a charge of commission of a felony involving moral turpitude or securities or banking laws; 

  
 -4- 

 (ii) the Executive has engaged in willful gross neglect or willful gross misconduct in carrying
out his duties, which is reasonably expected to result in material economic or material reputational harm to Employer; 
 (iii) the
Executive is subject to an action taken by a regulatory body or a self-regulatory organization, which materially impairs or prevents the Executive from performing his duties with Employer that are required under this Agreement; or 

(iv) the Executive materially breaches any provision of this Agreement. 

For purposes of this Section 4(b), no act or failure to act, on the part of the Executive, shall be considered “willful” unless it is done, or
omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive’s action or omission was in the best interests of Employer. Any act, or failure to act, based upon authority given pursuant to a resolution duly
adopted by the Bancorp Board, the Bank Board or upon the instructions of the Bancorp Board, Bank Board or the Bank CEO or based upon the advice of counsel for Employer shall be conclusively presumed to be done, or omitted to be done, by the
Executive in good faith and in the best interests of Employer. In order to invoke a termination for Cause on any of the grounds enumerated under Section 4(b)(ii) or Section 4(b)(iv), Employer must provide written notice to the Executive of
the existence of such grounds within 30 days following Employer’s knowledge of the existence of such grounds, specifying in reasonable detail the grounds constituting Cause, and the Executive shall have 30 days following receipt of
such written notice during which he may remedy the ground if such ground is reasonably subject to cure. 
 (c) With Good Reason. The
Executive’s employment may be terminated by the Executive with Good Reason. For purposes of this Agreement, “Good Reason” shall mean, in the absence of a written consent of the Executive, any of the following: 

(i) the assignment to the Executive of any duties materially inconsistent with the Executive’s position, authority, duties or
responsibilities as contemplated by Section 3(a), or any other action by Employer that results in a material diminution in such position, authority, duties or responsibilities; 

(ii) any material breach of any of the provisions of Section 3(b); 

(iii) any requirement by Employer that the Executive’s services be rendered primarily at a location or locations other than Santa
Monica, Los Angeles, Beverly Hills or Irvine, California; or 
 (iv) any failure by Employer to comply with Section 8(c). 

In order to invoke a termination with Good Reason, the Executive shall provide written notice to Employer of the existence of one or more of the conditions
described in clauses (i) through (iv) within 90 days following the Executive’s knowledge of the initial existence of such condition or conditions and Employer shall have 30 days following receipt of such written notice (the
“Cure Period”) during which it may remedy the condition if such condition is reasonably subject to cure. In the event that Employer fails to remedy the condition constituting Good Reason during the applicable Cure Period, the
Executive’s “separation from service” (within the meaning of 

  
 -5- 

 
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)) must occur, if at all, within 60 days following such Cure Period in order for such
termination as a result of such condition to constitute a termination with Good Reason. 
 (d) Without Good Reason. The
Executive’s employment may be terminated by the Executive without Good Reason at any time upon 60 days’ prior written notice to Employer. Given the importance of the Executive’s position with Employer, the Executive’s access
to and use of confidential information, and the irreparable harm that the Executive’s departure would likely cause to Employer, its customer relationships, and its business opportunities, the Executive agrees that, during the period (the
“Notice Period”) commencing on the date on which Employer receives notice of the Executive’s termination of his employment without Good Reason (the “Notice Date”) and ending on the earlier of
(i) 60 days following the Notice Date and (ii) such earlier date as designated by Employer, the Executive shall remain an employee of Employer and shall not be free to begin an employment relationship with another entity, absent
Employer’s authorized written consent. During the Notice Period, Employer shall continue to pay the Executive a base salary in accordance with its regular salary practices and the Executive shall be entitled to participate in Employer’s
benefit plans to the extent permitted by such plans and applicable law. During the Notice Period, Employer reserves the right to (i) change or remove any of the Executive’s duties, (ii) require the Executive to remain away from
Employer’s premises, and/or (iii) take such other action as determined by Employer to aid and assist in the transition process associated with the Executive’s departure. During the Notice Period, the Executive shall continue to act in
a manner consistent with this Agreement and his duty of loyalty to Employer. Employer may waive or terminate the Notice Period at any time and for any reason or for no reason, in which case the Date of Termination (as defined below) shall be the
date on which Employer notifies the Executive of such waiver or termination. 
 (e) Notice of Termination. Any termination by
Employer for Cause, or by the Executive with or without Good Reason, shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 10(b). For purposes of this Agreement, a “Notice of
Termination” means a written notice that (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide
a basis for termination of the Executive’s employment under the provision so indicated, and (iii) if the Date of Termination is other than the date of receipt of such notice, specifies the termination date (which date shall be not more
than 30 days after the giving of such notice in the case of a termination with Cause or with Good Reason). The failure by the Executive or Employer to set forth in the Notice of Termination any fact or circumstance which contributes to a
showing of Good Reason or Cause, as applicable, shall not waive any right of the Executive or Employer, respectively, hereunder or preclude the Executive or Employer, respectively, from asserting such fact or circumstance in enforcing the
Executive’s or Employer’s rights hereunder. 
 (f) Date of Termination. For purposes of this Agreement, “Date of
Termination” means (i) if the Executive’s employment is terminated by Employer for Cause, or by the Executive with Good Reason, the date of receipt of the Notice of Termination or any later date specified therein within
30 days of such notice, as the case may be, (ii) if the Executive’s employment is terminated by Employer without Cause, the Date of Termination shall be the date on which Employer notifies the Executive of such termination,
(iii) if the Executive’s 

  
 -6- 

 
employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be, and
(iv) if the Executive’s employment is terminated without Good Reason, the Date of Termination shall be the earlier of 60 days following the Notice Date and such earlier date as designated by Employer. 

5. Obligations of Employer upon Termination of Employment. 

(a) With Good Reason; Without Cause. If, during the Employment Period, Employer shall terminate the Executive’s employment other
than for Cause, death or Disability, or the Executive shall terminate employment for Good Reason: 
 (i) Employer shall pay to the
Executive the aggregate of the following amounts: 
  

	 	(A)	to the extent not previously paid, in a lump sum in cash within 30 days after the Date of Termination, the sum of (1) the Executive’s accrued Annual Base Salary and any accrued vacation pay through the
Date of Termination, (2) the Executive’s business expenses that have not been reimbursed by Employer as of the Date of Termination that were incurred by the Executive prior to the Date of Termination in accordance with the applicable
Employer policy, and (3) the Executive’s Annual Bonus earned for the fiscal year immediately preceding the fiscal year in which the Date of Termination occurs to the extent such bonus has been determined but not paid as of the Date of
Termination (the sum of the amounts described in clauses (1) through (3), shall be hereinafter referred to as the “Accrued Obligations”); and 

 

	 	(B)	to the extent not previously paid, no later than March 15th of the year following the year in which the Date of Termination occurs, subject to the achievement of any applicable performance goals required in order
for the bonus to be deductible by reason of qualifying for the “performance-based” compensation exception of Section 162(m) of the Code, the product of (1) the sum of the Target Bonus and the Target Incentive Bonus (determined as
though the Executive remained employed by Employer through the year in which the Date of Termination occurs) and (2) a fraction, the numerator of which is the number of days in the fiscal year in which the Date of Termination occurs through the
Date of Termination, and the denominator of which is 365 (the “Pro Rata Bonus”); and 

  
 -7- 

 (ii) Employer shall pay to the Executive an amount equal to the product of (A) one and
one-half and (B) the sum of (1) the Executive’s Annual Base Salary and (2) the sum of the Annual Bonus and the Incentive Bonus received by the Executive in respect of most recently completed fiscal year of Employer as of the Date
of Termination; provided that, if a termination of the Executive’s employment described in this Section 5(a) occurs within two years immediately following a Change of Control (as defined on Exhibit A hereto), in lieu of the
foregoing amount, Employer shall pay to the Executive an amount equal to the product of (x) two and (y) the sum of the Executive’s Annual Base Salary, the Target Bonus and the Target Incentive Bonus; and provided,
further, that the applicable amount payable pursuant to this clause (ii) shall be payable in equal installments over the 24 month period immediately following the last day of the Executive’s employment by Employer in accordance
with Employer’s normal payroll policies; 
 (iii) Any equity-based awards granted to the Executive shall vest and become free of
restrictions immediately, and any stock options or stock appreciation rights granted to the Executive shall be exercisable for the remainder of their term, without regard to any provisions relating to earlier termination of the stock options or
stock appreciation rights based on termination of employment (the “Equity Benefits”); 
 (iv) For either (A) the
18-month period following the Date of Termination or (B) if a termination of the Executive’s employment described in this Section 5(a) occurs within two years immediately following a Change of Control, the two-year period following
the Date of Termination, Employer shall continue to provide medical and dental benefits to the Executive and his eligible dependents as if the Executive remained an active employee of Employer (collectively “Welfare Benefits”); and

 (v) To the extent not theretofore paid or provided, Employer shall timely pay or provide to the Executive any other amounts or benefits
required to be paid or provided or which the Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of Employer and its affiliated companies through the Date of Termination (such other amounts and
benefits shall be hereinafter referred to as the “Other Benefits”). As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with Employer.

 (b) Death. If the Executive’s employment is terminated by reason of the Executive’s death during the Employment Period,
this Agreement shall terminate without further obligations to the Executive’s legal representatives under this Agreement, other than for (i) payment of Accrued Obligations, (ii) the timely payment or provision of Other Benefits,
(iii) payment of the Pro Rata Bonus, (iv) the Welfare Benefits, and (v) the Equity Benefits. Accrued Obligations shall be paid to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days of
the Date of Termination and the Pro Rata Bonus shall be paid to the Executive’s estate or beneficiary, as applicable, on the date specified in Section 5(a)(i). With respect to the provision of Other Benefits, the term “Other
Benefits” as utilized in this Section 5(b) shall include death benefits for which Employer pays as in effect on the date of the Executive’s death. 

  
 -8- 

 (c) Disability. If the Executive’s employment is terminated by Employer by reason of
the Executive’s Disability during the Employment Period, this Agreement shall terminate without further obligations to the Executive, other than for (i) payment of Accrued Obligations, (ii) the timely payment or provision of Other
Benefits, (iii) payment of the Pro Rata Bonus, (iv) the Welfare Benefits, and (v) the Equity Benefits. Accrued Obligations shall be paid to the Executive or his estate or beneficiary, as applicable, in a lump sum in cash within
30 days of the Date of Termination and the Pro Rata Bonus shall be paid to the Executive or his estate or beneficiary, as applicable, on the date specified in Section 5(a)(i). With respect to the provision of Other Benefits, the term
“Other Benefits” as utilized in this Section 5(c) shall include, and the Executive shall be entitled after the Disability Effective Date to receive, disability benefits. 

(d) With Cause; Without Good Reason. If the Executive’s employment shall be terminated by Employer with Cause or the Executive
terminates his employment without Good Reason during the Employment Period, this Agreement shall terminate without further obligations to the Executive other than the obligation to pay to the Executive (i) the Accrued Obligations through the
Date of Termination and (ii) Other Benefits, in each case, to the extent theretofore unpaid. Accrued Obligations shall be paid to the Executive in a lump sum in cash within 30 days of the Date of Termination. 

Any amounts payable by Employer to the Executive pursuant to Section 5(a)(ii), 5(a)(iii), and 5(a)(iv) shall be subject to and conditioned upon the
Executive signing and delivering (and not revoking) to Employer a general release and waiver (in the form attached as Exhibit B) and the first payment pursuant to Section 5(a)(ii) shall be made on the 55th day following the Date of
Termination (the “Initial Payment Date”), with any payments that would have otherwise been made during the period between the Date of Termination and the Initial Payment Date to be paid in a lump sum on the Initial Payment Date.

 6. Full Settlement. Employer’s obligation to make the payments provided for in this Agreement and otherwise to perform its
obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action that Employer may have against the Executive or others. In no event shall the Executive be obligated to seek other
employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement, and such amounts shall not be reduced whether or not the Executive obtains other employment. Employer
agrees to pay as incurred, to the full extent permitted by law, all legal fees and expenses that the Executive may reasonably incur as a result of any contest by Employer, any affiliates or their respective predecessors, successors or assigns, the
Executive, his estate, beneficiaries or their respective successors and assigns of the validity or enforceability of, or liability under, any provision of this Agreement (including as a result of any contest by the Executive about the amount of any
payment pursuant to this Agreement); provided that the Executive prevails on at least one material claim. 
 7.
Section 280G. 
 (a) Notwithstanding anything in this Agreement to the contrary, in the event that the Accounting Firm (as
defined below) shall determine that receipt of all Payments (as defined below) would subject the Executive to tax under Section 4999 of the Code, the Accounting Firm shall determine whether some amount of Agreement Payments meets the

  
 -9- 

 
definition of Reduced Amount (as defined below). If the Accounting Firm determines that there is a Reduced Amount, then the aggregate Agreement Payments (as defined below) shall be reduced to
such Reduced Amount. 
 (b) If the Accounting Firm determines that the aggregate Agreement Payments should be reduced to the Reduced Amount,
Bancorp, Bank or one of its subsidiaries shall promptly give the Executive notice to that effect and a copy of the detailed calculation thereof, and the Executive may then elect, in his sole discretion, which and how much of the Agreement Payments
shall be eliminated or reduced (as long as after such election the Present Value of the aggregate Agreement Payments equals the Reduced Amount); provided that the Executive shall not be permitted to elect to reduce any Agreement Payment that
constitutes “nonqualified deferred compensation” for purposes of Section 409A of the Code, and shall advise Employer in writing of his election within ten days of his receipt of notice. If no such election is made by the Executive
within such ten-day period, Employer shall reduce the Agreement Payments in the following order: (1) by reducing benefits payable pursuant to Section 5(a)(i)(B), then (2) by reducing amounts payable pursuant to Section 5(a)(ii),
then (3) by reducing amounts payable pursuant to Section 5(a)(iv), and then (4) by reducing amounts payable pursuant to Section 5(a)(iii). All determinations made by the Accounting Firm under this Section 7 shall be binding
upon Employer and the Executive and shall be made within 60 days of the Executive’s Date of Termination. In connection with making determinations under this Section 7, the Accounting Firm shall take into account the value of any
reasonable compensation for services to be rendered by the Executive before or after the Change of Control, including any non-competition provisions that may apply to the Executive, and Employer shall cooperate in the valuation of any such services,
including any noncompetition provisions. 
 (c) As a result of the uncertainty in the application of Section 4999 of the Code at the
time of the initial determination by the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed by Employer to or for the benefit of the Executive pursuant to this Agreement which should not have been so paid or
distributed (each, an “Overpayment”) or that additional amounts that will have not been paid or distributed by Employer to or for the benefit of the Executive pursuant to this Agreement could have been so paid or distributed (each,
an “Underpayment”), in each case, consistent with the calculation of the Reduced Amount hereunder. In the event that the Accounting Firm, based upon the assertion of a deficiency by the Internal Revenue Service against Employer or
the Executive that the Accounting Firm believes has a high probability of success determines that an Overpayment has been made, any such Overpayment paid or distributed by Employer to or for the benefit of the Executive shall be repaid by the
Executive to Employer; provided, however, that no such repayment shall be required if and to the extent such deemed repayment would not either reduce the amount on which the Executive is subject to tax under Section 1 and
Section 4999 of the Code or generate a refund of such taxes. In the event that the Accounting Firm, based upon controlling precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly
paid by Employer to or for the benefit of the Executive, together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code. 

(d) All fees and expenses of the Accounting Firm in implementing the provisions of this Section 7 shall be borne by Employer. 

  
 -10- 

 (e) Definitions. The following terms shall have the following meanings for purposes of
this Agreement. 
 (i) “Accounting Firm” shall mean a nationally recognized certified public accounting firm that is
mutually agreed to by Employer and the Executive for purposes of making the applicable determinations hereunder, which firm shall not be a firm serving as accountant or auditor for the individual, entity or group effecting the Change of Control;

 (ii) “Agreement Payment” shall mean a Payment paid or payable pursuant to this Agreement (disregarding this
Section 7); 
 (iii) “Net After-Tax Receipt” shall mean the Present Value of a Payment net of all taxes imposed on
the Executive with respect thereto under Sections 1 and 4999 of the Code and under applicable state and local laws, determined by applying the highest marginal rate under Section 1 of the Code and under state and local laws that applied to
the Executive’s taxable income for the immediately preceding taxable year, or such other rate(s) as the Executive shall certify, in the Executive’s sole discretion, as likely to apply to the Executive in the relevant tax year(s); 

(iv) A “Payment” shall mean any payment or distribution in the nature of compensation (within the meaning of
Section 280G(b)(2) of the Code) to or for the benefit of the Executive, whether paid or payable pursuant to this Agreement or otherwise; 

(v) “Present Value” of a Payment shall mean the economic present value of a Payment as of the date of the change of control
for purposes of Section 280G of the Code, as determined by the Accounting Firm using the discount rate required by Section 280G(d)(4) of the Code; and 

(vi) “Reduced Amount” shall mean the amount of Agreement Payments that (A) has a Present Value that is less than the
Present Value of all Agreement Payments and (B) results in aggregate Net After-Tax Receipts for all Payments that are greater than the Net After-Tax Receipts for all Payments that would result if the aggregate Present Value of Agreement
Payments were any other amount that is less than the Present Value of all Agreement Payments. 
 8. Confidential Information;
Nonsolicitation of Employees; Corporate Opportunities. 
 (a) The Executive shall hold in a fiduciary capacity for the benefit of
Employer all secret or confidential information, knowledge or data relating to Employer or any of its affiliated companies, and their respective businesses, which shall have been obtained by the Executive during the Executive’s employment by
Employer or any of its affiliated companies and which shall not be or become public knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement). After termination of the Executive’s
employment with Employer, the Executive shall not, without the prior written consent of Employer or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than Employer
and those 

  
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designated by it or as may be required by applicable law, court order, a regulatory body or arbitrator or other mediator. 

(b) During the period beginning on the date hereof and ending upon the second anniversary of the Date of Termination, but without limitation
to any of the Executive’s other duties or obligations to Employer or any of its affiliated companies, the Executive shall not, without the prior written consent of Employer, directly or indirectly, solicit or encourage any person to leave his
or her employment with Bancorp or Bank or any of their subsidiaries or assist in any way with the hiring of (i) any Bancorp or Bank employee (or any employee of any of their subsidiaries) by any other business (a “Relevant
Person”) or (ii) any person who was a Relevant Person at any time during the 12-month period preceding such hiring or solicitation. 

(c) During the period beginning on the date hereof and ending upon the Date of Termination, but without limitation to any of the
Executive’s other duties or obligations to Employer or any of its affiliated companies, with respect to any business opportunities involving business activities or lines of business that are the same as or similar to those pursued by, or
competitive with, Bank, Bancorp or any of their subsidiaries, that are from time to time presented to the Executive (irrespective of whether in his capacity as an executive and/or director of Employer or any of its affiliated entities), to the
extent that such business opportunities are ones that Bank, Bancorp or any of their subsidiaries might reasonably be deemed to have pursued or had the ability or desire to pursue if granted the opportunity to do so (each, an
“Opportunity”), the Executive shall be obligated to communicate such Opportunity to Bank, and the Executive shall not be permitted to directly or indirectly pursue such Opportunity unless the Bank Board and Bancorp Board shall have
affirmatively declined such Opportunity. For clarification, none of Bancorp, Bank or any or their subsidiaries renounces or waives its ability to pursue, compete for, acquire or otherwise undertake any opportunity, and Bancorp, Bank and their
subsidiaries may do so, whether or not such opportunity is presented or offered to them or to any other person, including those mentioned above. 

(d) The obligations of Employer to make the severance payments to the Executive under Section 5 shall be conditioned upon and subject to
the Executive’s compliance with all of the terms of this Section 8 and the release described in Section 5. 
 (e)
Notwithstanding Section 8(d), the Executive acknowledges that Employer would be irreparably injured by any violation of this Agreement, including Section 8, and the Executive hereby acknowledges and agrees that, in addition to any other
remedies available to it for any breach or threatened breach of this Agreement, including Section 8, Employer shall be entitled, without posting any bond or proof of damages, to a preliminary or permanent injunction, restraining order, and/or
other equitable or specific performance based relief, restraining the Executive from any actual or threatened breach of this Agreement, including Section 8. 

9. Successors. 
 (a) This
Agreement is personal to the Executive and without the prior written consent of Employer shall not be assignable by the Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives, heirs
or legatees. 

  
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 (b) This Agreement shall inure to the benefit of and be binding upon Bancorp, Bank and their
respective successors and assigns. 
 (c) Bank will require any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business and/or assets of Bank to assume expressly and agree to perform this Agreement in the same manner and to the same extent that Bank would be required to perform it if no such succession had taken
place. As used in this Agreement, “Bank” shall mean Bank as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. 

10. Miscellaneous. 
 (a)
This Agreement shall be governed by and construed in accordance with the laws of the State of California, without reference to principles of conflict of laws. If, under any such law, any portion of this Agreement is at any time deemed to be in
conflict with any applicable statute, rule, regulation or ordinance, such portion shall be deemed to be modified or altered to conform thereto. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect.
This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives. 

(b) All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other parties or by
registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

					
	If to the Executive:	 		  	At the most recent address
on file at Employer.
			
	If to Employer:	 		  	 Banc of California, N.A.
 18500 Von Karman
Avenue, Suite 1100
 Irvine, California 92612
 Attention: Chief
Executive Officer

 or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and
communications shall be effective when actually received by the addressee. 
 (c) The invalidity or unenforceability of any provision of
this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 
 (d) Employer may withhold from
any amounts payable under this Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

(e) Any provision of this Agreement that by its terms continues after the expiration of the Employment Period or the termination of the
Executive’s employment shall survive in accordance with its terms. 

  
 -13- 

 (f) Notwithstanding anything herein to the contrary, the compensation or benefits provided under
this Agreement are subject to modification, as necessary to comply with requirements imposed by Bancorp’s or Bank’s boards of directors to comply with the “Final Interagency Guidance on Sound Incentive Compensation Policies”
issued on an interagency basis by the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision, effective June 25, 2010, or any amendment, modification
or supplement thereto, which shall be deemed to include, without limitation, any rules adopted pursuant to Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

(g) Any payments that, under the terms of this Agreement, qualify for the short-term deferral exception under Treasury Regulations
Section 1.409A-1(b)(4), the separation pay exception under Treasury Regulations Section 1.409A-1(b)(9)(iii) or any other exception under Section 409A of the Code will be paid under the applicable exceptions to the greatest extent
possible. Each payment under this Agreement shall be treated as a separate payment for purposes of Section 409A of the Code. Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s separation from
service within the meaning of Section 409A of the Code, the Executive is considered a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, and if any payment that the Executive becomes entitled to
under this Agreement is considered deferred compensation subject to interest, penalties and additional tax imposed pursuant to Section 409A of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, then no such
payment shall be payable prior to the date that is the earlier of (i) six months and one day following the Executive’s separation from service (provided that any accrued installments that would otherwise be payable during that
six-month period are paid at the end of such period) and (ii) the Executive’s death. In no event shall the date of termination of the Executive’s employment be deemed to occur until the Executive experiences a “separation from
service” within the meaning of Section 409A of the Code, and notwithstanding anything contained herein to the contrary, the date on which such separation from service takes place shall be the Date of Termination. All reimbursements
provided under this Agreement shall be provided in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement that (A) the amount of expenses eligible for reimbursement during one calendar
year will not affect the amount of expenses eligible for reimbursement in any other calendar year; (B) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the calendar year in which
the expense is incurred; and (C) the right to any reimbursement will not be subject to liquidation or exchange for another benefit. Notwithstanding the foregoing, Employer makes no representation or covenant to ensure that the payments and
benefits under this Agreement are exempt from, or compliant with, Section 409A of the Code. 
 (h) This Agreement amends, restates and
supersedes the Prior Agreement as of the Effective Date, after which time the Prior Agreement shall no longer have any continuing force or effect. 

(Signature Page Follows) 

  
 -14- 

 IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant to
authorization from its board of directors, Bank has caused this Agreement to be executed in its name on its behalf, all as of the day and year first above written. 

 

			
	BANC OF CALIFORNIA, N.A.
		
	By:	 	 /s/ Steven A. Sugarman

	Name:	 	Steven A. Sugarman
	Title:	 	Chairman, President and Chief Executive Officer

  

	
	EMPLOYEE
	
	 /s/ J. Francisco A. Turner

	J. Francisco A. Turner

  
 [Signature Page to
Turner Amended and Restated Employment Agreement] 

 EXHIBIT A 

DEFINITION OF CHANGE OF CONTROL 

For the purposes of this Agreement “Change of Control” means: 

(a) Any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”)) (a “Person”) becomes the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of either (i) the then-outstanding shares of
common stock of Bancorp (the “Outstanding Bancorp Common Stock”) or (ii) the combined voting power of the then-outstanding voting securities of Bancorp entitled to vote generally in the election of directors (the
“Outstanding Bancorp Voting Securities”); provided, however, that, for purposes hereof, the following acquisitions shall not constitute a Change of Control: (A) any acquisition directly from Bancorp, (B) any
acquisition by Bancorp, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by Bancorp or any company affiliated with Bancorp, or (D) any acquisition pursuant to a transaction that complies with
clauses (c)(i), (c)(ii) and (c)(iii) below; 
 (b) Individuals who, as of the Effective Date, constitute the Bancorp Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Bancorp Board; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination
for election by Bancorp’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual was a member of the Incumbent Board, but excluding, for
this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Board; 
 (c) Consummation of a reorganization, merger, statutory share exchange or
consolidation or similar transaction involving Bancorp or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of Bancorp, or the acquisition of assets or stock of another entity by Bancorp or any of its
subsidiaries (each, a “Business Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Bancorp
Common Stock and the Outstanding Bancorp Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, greater than 50% of the then-outstanding shares of common stock (or, for a non-corporate entity,
equivalent securities) and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of the entity
resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns Bancorp or all or substantially all of Bancorp’s assets either directly or through one or more subsidiaries) in
substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Bancorp Common Stock and the Outstanding Bancorp Voting Securities, as the case may be, (ii) no Person (excluding any
corporation resulting from such Business Combination or any employee benefit plan (or related trust) of Bancorp or such corporation resulting from such Business 

  
 A-1 

 
Combination) beneficially owns, directly or indirectly, 30% or more of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination or
the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to the Business Combination, and (iii) at least a majority of the members of the board of directors
(or, for a non-corporate entity, equivalent governing body) of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for
such Business Combination; or 
 (d) Approval by the stockholders of Bancorp of a complete liquidation or dissolution of Bancorp. 

  
 A-2 

 EXHIBIT B 

GENERAL RELEASE 
  

	1.	In consideration of the payments and benefits to which J. Francisco A. Turner (the “Executive”) is entitled under the employment agreement entered into by and between the Executive and Banc of
California, N.A. (“Bank”), dated as of March 24, 2016 (the “Employment Agreement”), the Executive for himself, his heirs, administrators, representatives, executors, successors and assigns (collectively
“Releasors”) does hereby irrevocably and unconditionally release, acquit and forever discharge Banc of California, Inc. (“Bancorp”), Bank and their subsidiaries, affiliates and divisions (the “Affiliated
Entities”) and their respective predecessors and successors and their respective, current and former, trustees, officers, directors, partners, shareholders, agents, employees, consultants, independent contractors and representatives,
including without limitation all persons acting by, through, under or in concert with any of them (collectively, “Releasees”), and each of them from any and all charges, complaints, claims, liabilities, obligations, promises,
agreements, controversies, damages, remedies, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and costs) of any nature whatsoever, known or unknown, whether in law or equity and
whether arising under federal, state or local law and in particular including any claim for discrimination based upon race, color, ethnicity, sex, age (including the Age Discrimination in Employment Act of 1967), national origin, religion,
disability, or any other unlawful criterion or circumstance, relating to the Executive’s employment or termination thereof, which the Executive and Releasors had, now have, or may have in the future against each or any of the Releasees from the
beginning of the world until the date hereof (the “Execution Date”). 

  

	2.	The Executive acknowledges that: (a) this entire General Release is written in a manner calculated to be understood by him; (b) he has been advised to consult with an attorney before executing this General
Release; (c) he was given a period of [45][21] days within which to consider this General Release; and (d) to the extent he executes this General Release before the expiration of the [45][21]-day period, he does so knowingly and
voluntarily and only after consulting his attorney. The Executive shall have the right to cancel and revoke this General Release during a period of seven days following the Execution Date, and this General Release shall not become effective, and no
money shall be paid hereunder, until the day after the expiration of such seven-day period. The seven-day period of revocation shall commence upon the Execution Date. In order to revoke this General Release, the Executive shall deliver to Bank,
prior to the expiration of said seven-day period, a written notice of revocation. Upon such revocation, this General Release shall be null and void and of no further force or effect. 

 

	3.	 Notwithstanding anything else herein to the contrary, this General Release shall not affect: the obligations of Bank set forth in the Employment
Agreement or other obligations that, in each case, by their terms, are to be performed after the Execution Date (including, without limitation, obligations to Executive under any stock option, stock award or agreements or obligations under any
pension plan or other benefit or deferred compensation plan, all of which shall remain in effect in accordance with their terms); obligations to indemnify the Executive respecting acts or omissions in connection with

  
 B-1 

	 	
the Executive’s service as a director, officer or employee of the Affiliated Entities; obligations with respect to insurance coverage under any of the Affiliated Entities’ (or any of
their respective successors) directors’ and officers’ liability insurance policies; or any right Executive may have to obtain contribution in the event of the entry of judgment against Executive as a result of any act or failure to act for
which both Executive and any of the Affiliated Entities are jointly responsible. 

  

	4.	This General Release shall be construed, enforced and interpreted in accordance with and governed by the laws of the State of California, without reference to its principles of conflict of laws. 

 

	5.	The Executive represents and warrants that he is not aware of any claim by him other than the claims that are released by this General Release. The Executive further acknowledges that he may hereafter discover claims or
facts in addition to or different than those that he now knows or believes to exist with respect to the subject matter of this General Release and that, if known or suspected at the time of entering into this General Release, may have materially
affected this General Release and the Executive’s decision to enter into it. Nevertheless, the Executive hereby waives any right, claim or cause of action that might arise as a result of such different or additional claims or facts and the
Executive hereby expressly waives any and all rights and benefits confirmed upon him by the provisions of California Civil Code Section 1542, which provides as follows: 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” 
  

	6.	Being aware of such provisions of law, the Executive agrees to expressly waive any rights he may have thereunder, as well as under any other statute or common law principles of similar effect in any other jurisdiction
determined by a court of competent jurisdiction to apply. 

  

	7.	It is the intention of the parties hereto that the provisions of this General Release shall be enforced to the fullest extent permissible under all applicable laws and public policies, but that the unenforceability or
the modification to conform with such laws or public policies of any provision hereof shall not render unenforceable or impair the remainder of this General Release. Accordingly, if any provision shall be determined to be invalid or unenforceable
either in whole or in part, this General Release shall be deemed amended to delete or modify as necessary the invalid or unenforceable provisions to alter the balance of this General Release in order to render the same valid and enforceable.

  

	8.	This General Release may not be orally cancelled, changed, modified or amended, and no cancellation, change, modification or amendment shall be effective or binding, unless in writing and signed by both parties to this
General Release. 

  

	9.	 In the event of the breach or a threatened breach by the Executive of any of the provisions of this General Release, Bancorp and Bank would suffer
irreparable harm, and 

  
 B-2 

	 	
in addition and supplementary to other rights and remedies existing in its favor, Bancorp and Bank shall be entitled to specific performance and/or injunctive or other equitable relief from a
court of competent jurisdiction in order to enforce or prevent any violations of the provisions hereof without posting a bond or other security. 

  

	10.	Capitalized terms used but not defined herein shall have the meaning set forth in the Employment Agreement. 

  
 B-3 

 IN WITNESS WHEREOF, the undersigned parties have executed this General Release. 

 

			
	BANC OF CALIFORNIA, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

	
	EXECUTIVE
	  

	J. Francisco A. Turner

  
 [Signature Page to
General Release]

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