Document:

EXHIBIT
10.56

 

EXHIBIT 1  to AMENDMENT NO. 1 TO SALARY CONTINUATION
AGREEMENT

 

SHIRLEY GAIL WILBURN

 

	
  Birth
  Date: 2/4/1943

  	
   

  	
  Early Retirement

  	
   

  	
  Early Involuntary

  	
   

  	
  Disability

  	
   

  	
  Change of Control

  
	
  Plan
  Anniversary Date: 1/1/2006

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Normal
  Retirement: 12/31/2013 Age 70

  	
   

  	
  Monthly Installment

  	
   

  	
  Termination

  	
   

  	
  Monthly Installments

  	
   

  	
  Lump Sum Payable

  
	
  Normal
  Retirement Payment: Monthly for 15 years

  	
   

  	
  Payable at Termination

  	
   

  	
  Lump Sum Payable at

  	
   

  	
  Payable at Termination

  	
   

  	
  at

  
	
   

  	
   

  	
  for 15 Years

  	
   

  	
  Normal Retirement Date

  	
   

  	
  for 15 Years

  	
   

  	
  Termination

  

 

	
  Period

  Ending

  	
   

  	
  Discount

  Rate

  	
   

  	
  Benefit

  Level (2)

  	
   

  	
  Accrual

  Balance

  	
   

  	
  Vesting

  	
   

  	
  Based on

  Accrual

  	
   

  	
  Vesting

  	
   

  	
  Based on

  Accrual

  	
   

  	
  Vesting

  	
   

  	
  Based on

  Accrual

  	
   

  	
  Vesting

  	
   

  	
  Based on

  Accrual

  	
   

  
	
   

  	
   

  	
  (1)

  	
   

  	
  (2)

  	
   

  	
  (3)

  	
   

  	
  (4)

  	
   

  	
  (5)

  	
   

  	
  (6)

  	
   

  	
  (7)

  	
   

  	
  (8)

  	
   

  	
  (9)

  	
   

  	
  (10)

  	
   

  	
  (11)

  	
   

  
	
  Dec 2005 (1)

  	
   

  	
  6.25

  	
  %

  	
  10,000

  	
   

  	
  7,688

  	
   

  	
  20

  	
  %

  	
  1,538

  	
   

  	
  0

  	
  %

  	
  —

  	
   

  	
  100

  	
  %

  	
  791

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  
	
  Dec 2006

  	
   

  	
  6.25

  	
  %

  	
  10,000

  	
   

  	
  16,592

  	
   

  	
  30

  	
  %

  	
  4,978

  	
   

  	
  0

  	
  %

  	
  —

  	
   

  	
  100

  	
  %

  	
  1,707

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  
	
  Dec 2007

  	
   

  	
  6.25

  	
  %

  	
  10,000

  	
   

  	
  26,068

  	
   

  	
  40

  	
  %

  	
  10,427

  	
   

  	
  0

  	
  %

  	
  —

  	
   

  	
  100

  	
  %

  	
  2,682

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  
	
  Dec 2008

  	
   

  	
  6.25

  	
  %

  	
  10,000

  	
   

  	
  36,154

  	
   

  	
  50

  	
  %

  	
  18,077

  	
   

  	
  20

  	
  %

  	
  9,875

  	
   

  	
  100

  	
  %

  	
  3,720

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  
	
  Dec 2009

  	
   

  	
  6.25

  	
  %

  	
  10,000

  	
   

  	
  46,889

  	
   

  	
  60

  	
  %

  	
  28,133

  	
   

  	
  30

  	
  %

  	
  18,050

  	
   

  	
  100

  	
  %

  	
  4,824

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dec 2010

  	
   

  	
  6.25

  	
  %

  	
  10,000

  	
   

  	
  58,314

  	
   

  	
  70

  	
  %

  	
  40,820

  	
   

  	
  40

  	
  %

  	
  28,122

  	
   

  	
  100

  	
  %

  	
  6,000

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  
	
  Dec 2011

  	
   

  	
  6.25

  	
  %

  	
  10,000

  	
   

  	
  70,474

  	
   

  	
  80

  	
  %

  	
  56,379

  	
   

  	
  50

  	
  %

  	
  39,916

  	
   

  	
  100

  	
  %

  	
  7,251

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  
	
  Dec 2012

  	
   

  	
  6.25

  	
  %

  	
  10,000

  	
   

  	
  83,416

  	
   

  	
  90

  	
  %

  	
  75,074

  	
   

  	
  60

  	
  %

  	
  53,269

  	
   

  	
  100

  	
  %

  	
  8,583

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  
	
  Dec 2013

  	
   

  	
  6.25

  	
  %

  	
  10,000

  	
   

  	
  97,190

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  	
  100

  	
  %

  	
  10,000

  	
   

  	
  100

  	
  %

  	
  97,190

  	
   

  

 

December 31, 2013
Retirement; January 31, 2014 First Payment Date

 

(1) The first line reflects 11 months of data, February 2005 to
December 2005.

(2) The benefit amount includes a 3.00% nonguaranteed inflator during
the payout period.

*                 The purpose of this hypothetical illustration
is to show the participant’s annual benefit based on various termination
assumptions.  Actual benefits are based
on the terms and provisions of the plan agreement executed between the company
and participant and may differ from those shown.Exhibit 10.57

 

AMENDMENT NO.
1 TO

LIFE INSURANCE
ENDORSEMENT METHOD

SPLIT DOLLAR
PLAN AGREEMENT

 

This Amendment
No. 1 to Life Insurance Endorsement Method Split Dollar Plan Agreement (the “Amendment”) is made effective as of February 1, 2005, and is
entered into by and between Central Valley Community Bank, formerly named
Clovis Community Bank (the “Bank”) and                         
(the “Insured” or “Executive”),
each a “Party” and together the “Parties.”

 

RECITALS

 

A.                                   The
Parties entered into that certain Life Insurance Endorsement Method Split
Dollar Plan Agreement dated effective as of June 7, 2000 (the “Agreement”).

 

B.                                     Pursuant
to the terms of this Amendment, the Parties wish to amend the Agreement.

 

AGREEMENT

 

In
consideration of the mutual promises, covenants, and agreements contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

1.                                       Polices
Covered by the Agreement.  In
addition to the                               
Insurance Company and the                             
Insurance Company policies identified in the Agreement (the “2001 Policies”), the Agreement shall cover that certain life
insurance policy numbered                       
issued by                           
on February 18, 2005 (the “New York Life Policy”),
and all references in the Agreement to the “policy” shall refer to the 2001
Policies and the                       
Policy, except as specifically described in this Amendment.

 

2.                                       Division
of Death Proceeds.

 

(a)                                  Section
VI (A) is hereby deleted in its entirety and replaced with the following:

 

A.                                   Should
the Insured be employed by the Bank and die before the Executive attains age
sixty-five (65), the Insured’s beneficiary(ies), designated in accordance with
Paragraph III, shall be entitled to the following:  (i) with respect to the 2001 Policies, an
amount equal to Four Hundred Sixty Six Thousand Dollars and No/00ths
($466,000.00), or one hundred percent (100%) of the net at risk insurance
portion of the proceeds of the 2001 Policies, whichever amount is less; and
(ii) with respect to the New York Life Policy, an amount equal to Ninety-Seven
Thousand One Hundred Ninety Dollars and No/00ths ($97,190.00), or one hundred
percent (100%) of the net at risk insurance portion of the proceeds of the New
York Life Policy, whichever amount is less. 
The net at risk insurance portion of each policy is the total proceeds
less the cash value of the policy.

 

 

(b)                                 Section
VI (B) is hereby deleted in its entirety and replaced with the following:

 

B.                                     Should
the Insured be employed by the Bank, or retired from the Bank, and die on or
subsequent to attaining the age of sixty-five (65), the Insured’s
beneficiary(ies), designated in accordance with Paragraph III, shall be
entitled to an amount equal to the following: (i) with respect to the 2001
Policies, the amount as set forth in Exhibit A, attached hereto and fully
incorporated herein by reference, that corresponds to the age of the Insured at
the time of death, or one hundred percent (100%) of the net at risk insurance
portion of the proceeds, whichever amount is less; and (ii) with respect to the
New York Life Policy, the amount as set forth in Exhibit B, attached hereto and
fully incorporated herein by reference, that corresponds to the age of the
Insured at the time of death, or one hundred percent (100%) of the net at risk
insurance portion of the proceeds, whichever amount is less.  The net at risk insurance portion of each
policy is the total proceeds less the cash value of the policy.

 

3.                                       Exhibit
B.  Exhibit B, attached to this
Amendment, is hereby added to the Agreement as “Exhibit B.”

 

4.                                       References
and Definitions. Upon execution and delivery of this Amendment, all
references in the Agreement to the “Agreement,” and the provisions thereof,
shall be deemed to refer to the Agreement, as amended by this Amendment. All
capitalized terms used herein and not otherwise defined shall have the meanings
given to them in the Agreement.

 

5.                                       No
Other Amendments or Changes. Except as expressly amended or modified by
this Amendment, all of the terms and conditions of the Agreement shall remain
unchanged and in full force and effect.

 

Executed effective as of the
date first written above.

 

	
  BANK:

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
  CENTRAL VALLEY COMMUNITY BANK

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Daniel Doyle

  	
   

  	
   

  	
   

  
	
  Name: Daniel Doyle

  	
   

  
	
  Title: President and Chief Executive OfficerExhibit 10.58

 

EXHIBIT B (GAYLE GRAHAM)

 

	
  Age of Insured at the

  Time of Death

  	
   

  	
  Amount of Death Benefit, or 100%

  of the net-at-risk, whichever amount is less

  	
   

  
	
  65

  	
   

  	
  $

  	
  97,190

  	
   

  
	
  66

  	
   

  	
  $

  	
  93,150

  	
   

  
	
  67

  	
   

  	
  $

  	
  91,476

  	
   

  
	
  68

  	
   

  	
  $

  	
  89,393

  	
   

  
	
  69

  	
   

  	
  $

  	
  86,803

  	
   

  
	
  70

  	
   

  	
  $

  	
  83,541

  	
   

  
	
  71

  	
   

  	
  $

  	
  79,638

  	
   

  
	
  72

  	
   

  	
  $

  	
  75,016

  	
   

  
	
  73

  	
   

  	
  $

  	
  69,592

  	
   

  
	
  74

  	
   

  	
  $

  	
  63,271

  	
   

  
	
  75

  	
   

  	
  $

  	
  55,890

  	
   

  
	
  76

  	
   

  	
  $

  	
  47,460

  	
   

  
	
  77

  	
   

  	
  $

  	
  37,755

  	
   

  
	
  78

  	
   

  	
  $

  	
  26,730

  	
   

  
	
  79

  	
   

  	
  $

  	
  14,198

  	
   

  
	
  80

  	
   

  	
  $

  	
  2

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