SEC Contract Filing

Filing Date: 2016-08-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.29
<SEQUENCE>3
<FILENAME>a6302016-ex1029.htm
<DESCRIPTION>EXHIBIT 10.29
<TEXT>
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<div><a name="s1f5ed8bd58eb4709b9aa17db3d7db3e1"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.29</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;padding-left:120px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">COMMON STOCK PURCHASE AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS COMMON STOCK PURCHASE AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), dated as of August 3, 2016, between Banc of California, Inc., a Maryland corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Seller</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and Banc of California Capital and Liquidity Enhancement Employee Compensation Trust, a Maryland statutory trust (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Trust</font><font style="font-family:inherit;font-size:12pt;">&#8221;, which is hereinafter sometimes referred to as the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Purchaser</font><font style="font-family:inherit;font-size:12pt;">&#8221;), under a trust agreement between the Seller and Evercore Trust Company, N.A., a non-depository trust bank organized under the laws of the United States of America, not in its individual or corporate capacity but solely in its capacity as trustee (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Trustee</font><font style="font-family:inherit;font-size:12pt;">&#8221;), dated as of August 3, 2016 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Trust Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;padding-left:120px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">W I T N E S S E T H</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, as contemplated by the Trust Agreement, the Purchaser is to purchase from the Seller, and the Seller is to sell to the Purchaser, 2,500,000 shares of the Seller&#8217;s voting Common Stock, par value $0.01 per share (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Common Shares</font><font style="font-family:inherit;font-size:12pt;">&#8221;), all as more specifically provided herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein, and subject to and on the terms and conditions herein set forth, the parties hereto agree as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;padding-left:120px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">ARTICLE I</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;padding-left:120px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PURCHASE AND SALE OF SHARES</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:5px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Purchase and Sale</font><font style="font-family:inherit;font-size:12pt;">. Subject to the terms and conditions set forth herein, the Seller will sell to the Purchaser, and the Purchaser will purchase from the Seller, at the Closing (as hereinafter defined), the Common Shares, and, in consideration for the Common Shares, the Purchaser will deliver to the Seller (a) the note in the form of </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Appendix I</font><font style="font-family:inherit;font-size:12pt;">&#32;to this Agreement in the principal amount of $53,600,000.00 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Note</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and (b) cash in the amount of $25,000.00 representing the aggregate par value of the Common Shares.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:5px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.2.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Closing</font><font style="font-family:inherit;font-size:12pt;">. The closing of the sale and purchase of the Common Shares hereunder (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Closing</font><font style=