<SEC-DOCUMENT>0001193125-17-202892.txt : 20170614
<SEC-HEADER>0001193125-17-202892.hdr.sgml : 20170614
<ACCEPTANCE-DATETIME>20170614060604
ACCESSION NUMBER:		0001193125-17-202892
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20170612
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170614
DATE AS OF CHANGE:		20170614

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANC OF CALIFORNIA, INC.
		CENTRAL INDEX KEY:			0001169770
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				043639825
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35522
		FILM NUMBER:		17910227

	BUSINESS ADDRESS:	
		STREET 1:		3 MACARTHUR PLACE
		CITY:			SANTA ANA
		STATE:			CA
		ZIP:			92707
		BUSINESS PHONE:		949-236-5211

	MAIL ADDRESS:	
		STREET 1:		3 MACARTHUR PLACE
		CITY:			SANTA ANA
		STATE:			CA
		ZIP:			92707

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST PACTRUST BANCORP INC
		DATE OF NAME CHANGE:	20020322
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d407332d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): June&nbsp;12, 2017 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>BANC OF CALIFORNIA, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of Registrant as specified in its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Maryland</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-35522</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">04-3639825</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File No.)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>3 MacArthur Place, Santa Ana, California</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>92707</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (855)
<FONT STYLE="white-space:nowrap">361-2262</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>N/A </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2. below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744;</P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;12, 2017, J. Francisco A. Turner resigned from his positions as Interim Chief
Financial Officer of Banc of California, Inc. (the &#147;Company&#148;) and Executive Vice President, Chief Strategy Officer and Interim Chief Financial Officer of Banc of California, N.A., a wholly owned subsidiary of the Company (the
&#147;Bank&#148;). As discussed below, in connection with his resignation, Mr.&nbsp;Turner and the Company and the Bank entered into an Employment Separation Agreement and Release.<B> </B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon Mr.&nbsp;Turner&#146;s resignation, the Company&#146;s Board of Directors appointed Albert J. Wang, age 42, Executive Vice President and Chief Accounting
Officer of the Company and the Bank, who has served as the Company&#146;s principal accounting officer since September 2016, to also serve as the Company&#146;s principal financial officer while the Company continues its search for a permanent Chief
Financial Officer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company issued a press release on June&nbsp;14, 2017 announcing Mr.&nbsp;Turner&#146;s resignation and Mr.&nbsp;Wang&#146;s
appointment, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The press release contains additional biographical information for Mr.&nbsp;Wang. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;12, 2017 (the &#147;Effective Date&#148;), the Company, the Bank and Mr.&nbsp;Turner entered into an Employment Separation Agreement and
Release (the &#147;Agreement&#148;) pursuant to which Mr.&nbsp;Turner resigned from all positions he held with respect to the Company, the Bank and their respective affiliated entities. The Agreement provides for Mr.&nbsp;Turner to receive:
(i)&nbsp;a <FONT STYLE="white-space:nowrap">one-time</FONT> <FONT STYLE="white-space:nowrap">lump-sum</FONT> cash payment of $2,750,000 by June&nbsp;15, 2017; and (ii)&nbsp;for up to 18 months or until he obtains alternative benefits coverage,
whichever occurs first, following the Effective Date, reimbursement for the monthly premium payments he makes to continue his health care coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA). The Agreement further provides for
certain limitations on Mr.&nbsp;Turner&#146;s rights under his existing indemnification agreement with the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Agreement contains a general
release of claims by Mr.&nbsp;Turner, including any rights he may have under his existing employment agreement with the Company, with customary exceptions for obligations arising from the Agreement, vested benefits, indemnity rights and matters that
cannot be released by private agreement. Mr.&nbsp;Turner has agreed to cooperate fully with the Company and the Bank in connection with any existing or future investigations, claims, litigation, audits, inquiries or similar actions and to remain
bound by the clawback, confidentiality and <FONT STYLE="white-space:nowrap">non-solicitation</FONT> provisions of his employment agreement with the Bank. The Agreement provides for a &#147;Standstill Period&#148; through December&nbsp;31, 2018,
during which Mr.&nbsp;Turner has agreed to limit his ownership of common stock and common stock equivalents of the Company and not to engage in certain other activities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A copy of the Agreement is attached hereto as Exhibit 99.2 and is incorporated herein by reference. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="94%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release dated June&nbsp;14, 2017</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Separation Agreement and Release, dated June&nbsp;12, 2017</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="47%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="46%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><B>BANC OF CALIFORNIA, INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">June&nbsp;14, 2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ John C. Grosvenor</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">John C. Grosvenor</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">General Counsel and Corporate Secretary</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:25.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit<BR>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release dated June&nbsp;14, 2017</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Separation Agreement and Release, dated June&nbsp;12, 2017</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d407332dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g407332g0614110850058.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Banc of California Announces Resignation of J. Francisco A. Turner; </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Names Albert J. Wang PFO; </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Continues Search for Permanent CFO </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SANTA ANA, Calif., (June 14, 2017)</B><B> &#150; </B>Banc of&nbsp;California, Inc. (the &#147;Company&#148;) (NYSE:&nbsp;BANC) today announced that J.
Francisco A. Turner has resigned from his roles as interim Chief Financial Officer (&#147;CFO&#148;) and Chief Strategy Officer. Albert J. Wang, current Chief Accounting Officer, will assume the role of Principal Financial Officer (&#147;PFO&#148;)
as the Company continues its search for a permanent CFO with the assistance of Korn Ferry. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Douglas H. Bowers, President and Chief Executive Officer,
said, &#147;I am pleased that Al, a seasoned financial executive who has served Banc of California capably, will ensure continuity for the bank as our PFO. The Board and I are encouraged by the progress we have made in our previously announced
search to recruit a permanent CFO, and look forward to the completion of that process. We are committed to building the strongest possible management team fully aligned in our vision for the bank and its future success. Banc of California has a
strong foundation and talented employees, and I see great potential for the Company as we execute against our goals.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">He continued, &#147;We thank
Fran for his contributions and wish him well.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Turner has informed the Company that he intends to pursue financial technology, venture
investing and other interests. Mr.&nbsp;Turner said, &#147;It has been exciting and a pleasure to have helped build Banc of California from a community bank into a diverse and profitable California Regional Bank.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Turner&#146;s decision to resign did not relate to any issues regarding the Company&#146;s financial reporting or the integrity of the bank&#146;s
systems or controls. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with his resignation, Mr.&nbsp;Turner entered into a separation agreement with the Company, the terms of which will be
described in a Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> to be filed by the Company with the Securities and Exchange Commission. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Biographic Information on Albert J. Wang</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As
Chief Accounting Officer for Banc of California, Mr.&nbsp;Wang has been responsible for the organization&#146;s accounting, tax and financial reporting activities. Mr.&nbsp;Wang is a Certified Public Accountant (licensed in Pennsylvania) and has
over 19 years of accounting and finance experience. He was appointed Principal Accounting Officer of Banc of California on September&nbsp;1, 2016. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prior
to joining Banc of California, Mr.&nbsp;Wang served in various leadership positions with Santander Bank, N.A. from 2011 to 2016, most recently as Chief Accounting Officer. Mr.&nbsp;Wang previously held leadership positions at PwC providing assurance
and business advisory services to depository and lending institutions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 MacArthur Place
&#149; Santa Ana, CA 92707 &#149; (949) <FONT STYLE="white-space:nowrap">236-5250</FONT> &#149; www.bancofcal.com </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Wang holds a Master&#146;s in Business Administration from Temple University and a Bachelor&#146;s of
Science in Accounting from the University of Scranton. He is a member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Banc of California, Inc. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Banc of California, Inc.
(NYSE: BANC) provides comprehensive banking services to California&#146;s diverse businesses, entrepreneurs and communities. Banc of California operates 37 offices in California.&nbsp;The Company was recently recognized by Forbes for the second
straight year as one of the 100 Best Banks in America for 2017. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release includes forward-looking statements within the meaning of the &#147;Safe-Harbor&#148; provisions of the Private Securities Litigation Reform
Act of 1995. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished
by Banc of California, Inc. with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and Banc of California, Inc. undertakes no obligation to update any such statements to reflect circumstances
or events that occur after the date on which the forward-looking statement is made. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Source: Banc of California, Inc. </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>I<SMALL>NVESTOR</SMALL> R<SMALL>ELATIONS</SMALL> I<SMALL>NQUIRIES</SMALL>:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><B>M<SMALL>EDIA</SMALL> I<SMALL>NQUIRIES</SMALL>: </B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Banc of California, Inc.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Abernathy MacGregor</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Timothy Sedabres, (855) <FONT STYLE="white-space:nowrap">361-2262</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ian Campbell / Joe Hixson / Kristin Cole, (213) <FONT STYLE="white-space:nowrap">630-6550</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">idc@abmac.com / jrh@abmac.com / kec@abmac.com</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>d407332dex992.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYMENT SEPARATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>AGREEMENT AND RELEASE</U> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
Employment Separation Agreement and Release (the &#147;Agreement&#148;) dated as of June&nbsp;12, 2017 (the &#147;Effective Date&#148;), is entered into by and among Banc of California, Inc., a Maryland corporation (the &#147;Corporation&#148;),
Banc of California, N.A., a national banking association (the &#147;Bank&#148;), and J. Francisco A. Turner (&#147;Executive&#148; and, together with the Corporation and the Bank, the &#147;Parties&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>W</U> <U>I</U> <U>T</U> <U>N</U> <U>E</U> <U>S</U> <U>S</U> <U>E</U> <U>T</U> <U>H</U>: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Parties are party to an amended and restated employment agreement dated as of January&nbsp;6, 2014, as amended by that First
Amendment to Amended and Restated Employment Agreement dated as of March&nbsp;24, 2016 (as amended, the &#147;Employment Agreement&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Parties wish to set forth certain promises, agreements, and understandings in this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, and for other good and valuable consideration, the
legal sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Termination of Employment and Other
Positions and Payments and Benefits</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Notwithstanding anything to the contrary in this Agreement, Executive&#146;s employment with
the Corporation and the Bank will terminate on the Effective Date. As of the Effective Date, Executive is relieved of all duties and responsibilities for the Corporation, the Bank and their respective affiliates (collectively, the &#147;Affiliated
Entities&#148;), and Executive shall not have the authority to bind the Affiliated Entities, or any of them. As of the Effective Date, Executive shall cease to hold, and be deemed to have resigned from, any and all titles, positions and appointments
Executive holds with the Affiliated Entities, whether as an officer, director, employee, trustee, committee member or otherwise. Executive agrees to execute any documents reasonably requested any of the Affiliated Entities in connection with the
actions contemplated by the preceding sentence. As used in this Agreement, the term &#147;affiliate&#148; shall include any company controlled by, controlling, or under common control with the Corporation or the Bank, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Subject to Executive&#146;s execution and delivery of and compliance with the terms of this Agreement (including, without limitation, the
release it contains in Section&nbsp;5), and subject to Executive returning to the Corporation all property described in Section&nbsp;2 below by June&nbsp;15, 2017, Executive shall receive a <FONT STYLE="white-space:nowrap">one-time</FONT> <FONT
STYLE="white-space:nowrap">lump-sum</FONT> cash payment of $2,750,000 by June&nbsp;15, 2017. In addition, the Corporation shall for up to 18 months or until he obtains alternative benefits coverage, which occurs first, following the Effective Date,
reimburse Executive for the monthly premium payments made by Executive to continue his health care coverage under the Consolidated Omnibus Budget Reconciliation Act (&#147;COBRA&#148;). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive affirmatively acknowledges that he has forfeited any future contractual or other anticipated future
award of equity-based shares or stock options of Bancorp common stock or any affiliates to which he may have had rights prior to the Effective Date of this Agreement, and acknowledges that no further amounts are due and owing to him other than
amounts for Base Salary and any accrued but unused vacation, unreimbursed costs and expenses as of the Effective Date of this Agreement, as those terms are defined in Executive&#146;s Amended and Restated Employment Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Executive specifically agrees to (i)&nbsp;carve out of his Indemnification Agreement (as defined in paragraph (e)&nbsp;below) any
Expenses, as that term is defined in the Indemnification Agreement, and (ii)&nbsp;affirmatively agrees to not seek from the Bank or Corporation any indemnification pursuant to that Indemnification Agreement, as that term is defined in the
Indemnification Agreement, per the specific terms of a confidential side letter, which is incorporated by reference herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)
Notwithstanding anything herein to the contrary, the compensation and benefits provided under this Agreement are subject to modification, solely to the minimum extent necessary to comply with the &#147;Final Interagency Guidance on Sound Incentive
Compensation Policies&#148; 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&nbsp;25, 2010, or
any amendment, modification, or supplement thereto, which shall be deemed to include, without limitation, any rules adopted pursuant to Section&nbsp;956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Executive acknowledges that, regardless of executing this Agreement, the Affiliated Entities have paid him all compensation earned through
the Effective Date and have reimbursed him for all reasonable business expenses incurred through the Effective Date. Other than the payments and benefits specifically set forth in this Agreement, Executive agrees that none of the Affiliated Entities
owes Executive (and Executive shall not become entitled to) any additional vesting, payments, compensation, remuneration, bonuses, incentive payments, benefits, stock options, warrants, stock appreciation rights, restricted stock, restricted stock
units, severance, reimbursement of expenses, or commissions of any kind whatsoever, or other similar compensation, including any obligations owed to Executive under any employment agreement, offer letter or otherwise; provided, however, that the
foregoing shall not extend to the following: (i)&nbsp;any vested shares or stock in the Affiliated Entities; (ii)&nbsp;any benefits vested under the Banc of California, Inc. 401(k) Plan, and (iii)&nbsp;Executive&#146;s rights under that certain
indemnification agreement dated March&nbsp;24, 2016 between the Corporation and the Executive (the &#147;Indemnification Agreement&#148;), and other rights to indemnification and advancement of expenses in accordance with the Corporation&#146;s
certificate of incorporation, bylaws or other corporate governance document, or any applicable insurance policy. The Corporation and its Board shall take no action to reduce the indemnification rights of the Executive pursuant to any existing
document, policy, agreement or otherwise and shall ensure all advancement and reimbursement is paid timely and in no event more than 20 business days after submission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Return of Property</U>. On or before June&nbsp;15, 2017, Executive agrees to return to the Corporation any and all files, documents, or
other property of the Affiliated Entities (said property includes, but is not limited to, financial reports and statements, projections, forecasts, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
balance sheets, income statements, budgets, actual or prospective client lists, investor reports, books, reports to directors, minutes, resolutions, certificates, bank account numbers, passwords,
credit cards, computers, laptops, cellular or other telephones, Blackberrys, calculators, identification and security cards, beepers, keys, deeds, contracts, office equipment and supplies, records, computer discs, emails and other electronic files)
within his possession, custody or control, without retaining any copies or extracts thereof; provided, however, Executive shall be entitled to have transferred to a personal phone or other personal device all personal information and communications
including contact lists contained on his work cellphone, Blackberry, computer or similar device, provided that no other information is transferred. Likewise, the Affiliated Entities will allow Executive a reasonable opportunity to retrieve his
personal effects from his office. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Obligations</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Executive agrees that he will cooperate fully with the Corporation and the Bank in connection with any existing or future investigations,
claims, litigation, audits, inquiries or similar actions involving the Corporation, the Bank or their respective affiliates, whether informal, administrative, civil or criminal in nature, in which and to the extent the Corporation or the Bank deems
Executive&#146;s cooperation necessary. Executive agrees to respond to reasonable requests from the Corporation and its counsel for information that relates to the time period during which Executive provided services to the Corporation and the Bank
prior to the termination of his services. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Executive represents and warrants that, for the reporting period during which he served as
the Corporation&#146;s Principal Financial Officer, he is not aware of (i)&nbsp;any material misstatement or error in the Corporation&#146;s publicly reported quarterly or annual financial statements, (ii)&nbsp;any need to correct or restate any
such prior financial statements, or (iii)&nbsp;any material weakness in the Corporation&#146;s internal controls (other than as reported by the Corporation in its quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the quarter
ended September&nbsp;30, 2016, and in its annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the 2016 fiscal year). Executive further represents and warrants that he is not aware of any material inaccuracy in the (i)&nbsp;the
certifications he made as the Company&#146;s Principal Financial Officer with respect to the Corporation&#146;s quarterly reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> and annual reports on Form
<FONT STYLE="white-space:nowrap">10-K</FONT> or (ii)&nbsp;any representations he made in writing, in his capacity as the Corporation&#146;s Principal Financial Officer, to the Corporation&#146;s external auditors. Executive further represents and
warrants that his separation from the Corporation is not as a result of any disagreement between Executive and the Corporation regarding accounting principles or practices or regarding financial statement disclosures. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Clawback and Restrictive Covenants</U>. Executive acknowledges and agrees that the clawback provisions in Section&nbsp;3(b)(v) of the
Employment Agreement and the confidential information and <FONT STYLE="white-space:nowrap">non-solicitation</FONT> covenants in Section&nbsp;8 of the Employment Agreement remain in full force and effect in accordance with the terms thereof.
Notwithstanding anything to the contrary in the Employment Agreement or this Agreement, nothing in Section&nbsp;8 of the Employment Agreement or this Agreement is intended to prohibit or prohibits Executive from reporting alleged violations of law
to an appropriate government agency.&nbsp;In addition, Executive is hereby notified that 18&nbsp;U.S.C. &#167; 1833(b) states as follows: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;An individual shall not be held criminally or civilly liable under any Federal or State
trade secret law for the disclosure of a trade secret that&#151;(A) is made&#151;(i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii)&nbsp;solely for the purpose of reporting
or investigating a suspected violation of law; or (B)&nbsp;is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Accordingly, notwithstanding anything to the contrary in this Agreement, Executive understands that he has the right to disclose in confidence trade secrets
to federal, state, and local government officials, or to an attorney, for the sole purpose of reporting or investigating a suspected violation of law.&nbsp;Executive understands that he also has the right to disclose trade secrets in a document
filed in a lawsuit or other proceeding, but only if the filing is made under seal and protected from public disclosure.&nbsp;Executive understands and acknowledges that nothing in this Agreement is intended to conflict with 18 U.S.C. &#167; 1833(b)
or create liability for disclosures of trade secrets that are expressly allowed by 18 U.S.C. &#167; 1833(b). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Release</U>: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) In consideration for the payments and benefits to be provided to Executive under this Agreement, Executive for himself, his heirs,
administrators, representatives, executors, successors, and assigns (collectively &#147;Releasors&#148;) does hereby irrevocably and unconditionally release, acquit and forever discharge the Affiliated Entities and their respective predecessors and
successors and their respective, current and former, trustees, officers, directors, partners, shareholders, agents, employees, attorneys, consultants, independent contractors, and representatives (collectively, &#147;Releasees&#148;), 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&#146;
fees and costs) of any nature whatsoever, known or unknown, whether in law or equity and whether arising under federal, state, or local law (&#147;Claims&#148;), including without limitation, Claims for personal injury, Claims for breach of any
implied or express contract or covenant, Claims for promissory estoppel, Claims failure to pay wages, benefits, vacation pay, severance pay, attorneys&#146; fees, or any compensation of any sort; failure to grant equity or allow equity to vest,
defamation, Claims for wrongful termination, public policy violations, defamation, interference with contract or prospective economic advantage, invasion of privacy, fraud, misrepresentation, emotional distress, breach of fiduciary duty, breach of
the duty of loyalty or other common law or tort causes of action; Claims of harassment, retaliation or discrimination based upon race, color, sex, national origin, ancestry, age, disability, handicap, medical condition, religion, marital status, or
any other protected class or status under federal, state, or local law; Claims arising under or relating to employment, employment contracts; unlawful effort to prevent employment, or unfair or unlawful business practices, including without
limitation all claims arising under Section&nbsp;806 of the employee protection provisions of the Sarbanes-Oxley Act of 2002, 18 U.S.C.A. &#167;1514A; the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, 15 U.S.C. &#167; 78o; Title
VII of the Civil Rights Act of 1964 (&#147;Title VII&#148;); the Civil Rights Act of 1991; the Civil Rights Acts of 1866 and/or 1871, 42 U.S.C. Section&nbsp;1981; the Americans With Disabilities Act of 1990 (&#147;ADA&#148;), 42 U.S.C &#167; 12101
<I>et seq</I>.; the Age Discrimination in Employment Act (&#147;ADEA&#148;), 29 U.S.C. &#167; 621 <I>et seq</I>.,; the Older Workers Benefits Protection Act (&#147;OWBPA&#148;); the Family Medical Leave Act, 29 U.S.C. &#167; 2601
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
<I>et seq</I>.; the California Labor Code, including without limitation section 1102.5 of the Labor Code; the California Fair Employment and Housing Act (&#147;FEHA&#148;), Cal. Gov. Code &#167;
12940 <I>et seq</I>.; the Occupational Safety and Health Act (&#147;OSHA&#148;), 29 U.S.C. &#167; 651 <I>et seq</I>. or any other health/safety laws, statutes or regulations; the Employee Retirement Income Security Act of 1974 (&#147;ERISA&#148;),
29 U.S.C. &#167; 1001 <I>et seq</I>.; the Internal Revenue Code; the California Family Rights Act (&#147;CFRA&#148;), Cal. Gov. Code &#167; 12945 <I>et seq</I>.; including any amendments to or regulations promulgated under these statutes and
including the similar laws of any other states, any state human rights act, or any other applicable federal, state or local employment statute, law or ordinance, which Executive and Releasors had, now have, or may have in the future against each or
any of the Releasees arising out of acts or omissions occurring from the beginning of the world until the date hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Executive
understands and agrees that the release set forth in Section&nbsp;5(a) above does not in any way affect the rights and obligations of the Parties created under this Agreement and the rights of either party to take whatever steps may be necessary to
enforce the terms of this Agreement or to obtain appropriate relief in the event of any breach of the terms of this Agreement. The parties agree that, notwithstanding the generality of Section&nbsp;5(a), this Agreement does not release
Executive&#146;s rights to (i)&nbsp;any benefits vested under the Banc of California, Inc. 401(k) Plan, (ii)&nbsp;Executive&#146;s rights to indemnification and advancement of expenses in accordance with the Corporation&#146;s certificate of
incorporation, bylaws or other corporate governance document, the Indemnification Agreement (except as otherwise provided herein), or any applicable insurance policy, and (iii)&nbsp;any right that cannot be released by private agreement. Executive
represents that, except for anonymous whistleblower complaints filed with the SEC or other similar regulatory agencies, the Releasors have not initiated, filed, or caused to be filed any Released Claims against any of the Releasees. Executive
further agrees not to initiate, file, cause to be filed, or otherwise pursue any Released Claims, either as an individual on his own behalf or as a representative, member or shareholder in a class, collective or derivative action. Executive
acknowledges that the release set forth in Section&nbsp;5(a) does not prohibit Executive from challenging the validity of the waiver of Executive&#146;s claims under the ADEA as contained in Section&nbsp;5(a) of this Agreement (but no other portion
of such waiver) or from filing a charge with or participating in an investigation by a governmental administrative agency or reporting alleged violations of law to an appropriate government agency; provided, however, that, except with respect to the
Securities and Exchange Commission, Executive hereby waives any right to receive any monetary award resulting from such a charge or investigation and provided further that Executive agrees not to encourage any person, including any current or former
employee of the Affiliated Entities, to file any kind of Claim whatsoever against any of the Affiliated Entities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Executive
acknowledge that he is aware of the provisions of California Civil Code, Section&nbsp;1542, which reads as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;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.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive hereby expressly gives up all the benefits of Section&nbsp;1542 and of any other similar law of this or any other jurisdiction, except as expressly
provided herein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>No Admission of Liability</U>. Executive acknowledges and agrees that any payments or
benefits provided to Executive under the terms of this Agreement do not constitute an admission by any of the Affiliated Entities that they have violated any law or legal obligation with respect to any aspect of Executive&#146;s employment with the
Corporation. Likewise, this Agreement does not constitute an admission by Executive that he has violated any law or legal obligation with respect to any aspect of Executive&#146;s employment with the Corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Mutual <FONT STYLE="white-space:nowrap">Non-Disparagement.</FONT></U> To the full extent permitted by law, the Parties agree after the
date of the execution of this Agreement, they will not, to the public or to any individual person or entity, disparage, criticize, condemn or impugn the reputation or character of the other or any related business entity, any of their officers or
employees, or any of their actions or writings, specifically including but not limited to any of the conduct, policies, practices, procedures or advertisements, which are, have been or may be taken or produced by these entities. For the purposes of
this paragraph only, the &#147;Parties&#148; means Mr.&nbsp;Turner and the current Board and Executive Officers of the Corporation and/or Bank, to the extent the current Board and the Executive Officers are engaged in their capacity as managing
speaking agents on behalf of the Affiliated Entities at the time the statement is made. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>Standstill</U>. Executive agrees that
during the Standstill Period (as hereinafter defined): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Executive will not, and will cause his Affiliates (as hereinafter defined) not
to, directly or indirectly, acquire Beneficial Ownership (as hereinafter defined) of any shares of common stock or common stock equivalents or the Corporation, in each case, now or hereafter outstanding (collectively, &#147;Securities&#148;) without
the consent of the Corporation, if the effect of such acquisition would be to increase the aggregate Beneficial Ownership of Securities of Executive to greater than 4.99% of the total number of shares of Company common stock then outstanding (the
&#147;Percentage Limitation&#148;); provided, that the foregoing limitation shall not apply to Executive&#146;s acquisition of common stock pursuant to the exercise of the stock options granted to him or the vesting of any stock options, SARs, or
equity he currently holds. In addition, Executive will not, and will cause his Affiliates not to, make any public announcement with respect to, or submit any proposal for or with respect to (i)&nbsp;the acquisition of Beneficial Ownership of any
Securities if the effect of such acquisition would be to cause the Beneficial Ownership of Executive and his Affiliates to exceed the Percentage Limitation. For purposes of this Section, the term &#147;Affiliates&#148; shall have the meaning set
forth in Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> under the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), and &#147;Beneficial Ownership&#148; shall be determined in accordance with Rule <FONT
STYLE="white-space:nowrap">13d-3</FONT> under the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Without the express prior written approval of the Board of Directors
of the Corporation (the &#147;Board&#148;), Executive will not, and will cause his Affiliates not to, directly or indirectly, solicit proxies or initiate, propose or become a &#147;participant&#148; in a &#147;solicitation&#148; (as such terms are
defined in Regulation 14A under the Exchange Act), in opposition to any matter that has been recommended by a majority of the members of the Board or in favor of any matter that has not been approved by the Board or seek to advise, encourage or
influence any &#147;person&#148; (as such term is used in Section&nbsp;13(d) and 14(d) of the Exchange Act, &#147;Person&#148;) with respect to the voting of Securities in such manner, or initiate, or induce or attempt to induce any Person to
initiate, any shareholder proposal relating to the Corporation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Without the express prior written approval of the Board, Executive will not, and will cause
his Affiliates not to, join a consortium, partnership, limited partnership, syndicate or other &#147;group&#148; (within the meaning of Section&nbsp;13(d)(3) of the Exchange Act), or otherwise act in concert with any Person, for the purpose of
acquiring, holding, voting or disposing of Securities, or for any other purpose which would require disclosure under Item 4 of Schedule 13D adopted by the Securities and Exchange Commission under the Exchange Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The &#147;Standstill Period&#148; shall commence on the Date of Termination and shall terminate on December&nbsp;31, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>Entire Agreement</U>. The Parties each represent and warrant that no promise or inducement has been offered or made except as herein set
forth and that the consideration stated herein is the sole consideration for this Agreement. This Agreement is a complete and entire agreement and states fully all agreements, understandings, promises and commitments as between the Affiliated
Entities and Executive and as to the termination of their relationship; this Agreement supersedes and cancels any and all other negotiations, understandings and agreements, oral or written, respecting the subject matter hereof, including any prior
employment agreements between the Affiliated Entities and Executive, including but not limited to the Employment Agreement, except as otherwise set forth in this Agreement. This Agreement may not be modified except by an instrument in writing signed
by the party against whom the enforcement of any waiver, change, modification, or discharge is sought. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <U>No Transfer</U>. Executive
represents and warrants that Executive has not sold, assigned, transferred, conveyed or otherwise disposed of to any third party, by operation of law or otherwise, any action, cause of action, suit, debt, obligations, account, contract, agreement,
covenant, guarantee, controversy, judgment, damage, claim, counterclaim, liability or demand of any nature whatsoever relating to any matter covered by this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. <U>Assignability, Successors, Choice of Law</U>. This Agreement is personal to Executive and Executive may not assign, pledge, delegate or
otherwise transfer to any person or entity any of Executive&#146;s rights, obligations or duties under this Agreement; provided, however, that Executive shall not be precluded from designating in writing one or more beneficiaries to receive any
amount that may be payable after Executive&#146;s death and shall not preclude the legal representative of Executive&#146;s estate from assigning any right hereunder to the person or persons entitled thereto. This Agreement shall be binding upon and
shall inure to the benefit of, and shall be enforceable by, Executive, Executive&#146;s heirs and legal representatives and the Corporation, the Bank, and their respective successors and assigns. This Agreement shall be governed by, construed in
accordance with, and enforced pursuant to the laws of the State of California without regard to principles of conflict of laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.
<U>Enforceability</U>. The failure of either party at any time to require performance by the other party of any provision hereunder will in no way affect the right of that party thereafter to enforce the same, nor will it affect any other
party&#146;s right to enforce the same, or to enforce any of the other provisions in this Agreement; nor will the waiver by either party of the breach of any provision hereof be taken or held to be a waiver of any prior or subsequent breach of such
provision or as a waiver of the provision itself. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. <U>Counterparts</U>. This Agreement may be executed in counterparts, each of which together
constitute one and the same instrument. Signatures delivered by facsimile or email PDF shall be effective for all purposes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14.
<U>Notices</U>. 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: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. If to Executive: Timothy B. McCaffrey, Jr., Chesler McCaffrey LLC, 11377 West Olympic Boulevard, Suite 500, Los Angeles, California
90064-1683, and at the most recent address on file at the Corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. If to the Corporation: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Banc of California, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">3
MacArthur Place </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Santa Ana, California 92707 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention: General Counsel </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">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. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. <U>Nonadmissibility</U>. To the extent permitted by applicable law, nothing contained in this Agreement, or the fact of its submission to
Executive, shall be admissible evidence against the Corporation in any judicial, administrative, or other legal proceeding (other than in an action for breach of this Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16. <U>OWBPA; Meaning of Signing This Agreement</U>. By signing this Agreement, Executive expressly acknowledges and agrees that
(a)&nbsp;Executive has carefully read it, and fully understands what it means; (b)&nbsp;Executive has been advised in writing to discuss this Agreement with an independent attorney of Executive&#146;s own choosing before signing it and has had a
reasonable opportunity to confer with Executive&#146;s attorney and has discussed and reviewed this Agreement with Executive&#146;s attorney prior to executing it and delivering it to the Corporation; (c)&nbsp;Executive has been given <FONT
STYLE="white-space:nowrap">twenty-one</FONT> (21)&nbsp;calendar days to consider this Agreement and understands that he may execute the Agreement in fewer than 21 days if he chooses, and if Executive executes this Agreement in fewer than 21 days,
such execution will be deemed to be a voluntary and knowing waiver of the full 21 day consideration period.; (d) Executive has had answered to Executive&#146;s satisfaction any questions Executive has with regard to the meaning and significance of
any of the provisions of this Agreement; (e)&nbsp;Executive has agreed to this Agreement knowingly and voluntarily of Executive&#146;s own free will and was not subjected to any undue influence or duress, and assents to all the terms and conditions
contained herein, including his waiver and release of all Claims under the ADEA, with the intent to be bound hereby; (f)&nbsp;in consideration of Executive&#146;s promises contained in this Agreement, he is receiving consideration beyond that to
which he is otherwise entitled, including, without limitation, the consideration set forth in Section&nbsp;1(b), above; (g)&nbsp;Executive may revoke Executive&#146;s waiver and release of Claims under the ADEA within seven (7)&nbsp;calendar days
after Executive signs this Agreement by sending </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
a written Notice of Revocation to the address of the Corporation as set forth in Section&nbsp;13 above; and (h)&nbsp;except for Executive&#146;s waiver and release of Claims under the ADEA, which
shall not become effective or enforceable as to any Party until the date upon which the revocation period has expired without revocation by Executive, this Agreement shall become effective on the Effective Date. Executive understands and agrees that
modifications or amendments to this Agreement will not restart the <FONT STYLE="white-space:nowrap">twenty-one</FONT> (21)&nbsp;day consideration period set forth in this Section&nbsp;16. For avoidance of doubt, if Executive revokes his waiver and
release of Claims under the ADEA pursuant to the preceding sentence, he will repay in full the payments and any of the benefits set forth in Section&nbsp;1(b) of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17. <U>No Construction against Drafter</U>. No provision of this Agreement or any related document will be construed against or interpreted to
the disadvantage of any party hereto by any court or other governmental or judicial authority by reason of such party having or being deemed to have structured or drafted such provision. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18. <U>Compliance with Section</U><U></U><U>&nbsp;409A.</U> The Parties acknowledge and agree that, to the extent applicable, this Agreement
shall be interpreted in accordance with, and the Parties agree to use their best efforts to achieve timely compliance with, Section&nbsp;409A of the Code and the Department of Treasury Regulations and other interpretive guidance issued thereunder
(&#147;Section&nbsp;409A&#148;), including without limitation any such regulations or other guidance that may be issued after the Effective Date. Notwithstanding any provision of this Agreement to the contrary, in the event that the Corporation and
Executive determine that any provision of this Agreement would subject Executive to any additional tax or interest under Section&nbsp;409A, then the Corporation and Executive shall cooperate in reforming such provision to the extent such reform will
mitigate the amount of taxes incurred by Executive under Section&nbsp;409A while maintaining, to the maximum extent practicable, the original intent of the applicable provision. Any payments that, under the terms of this Agreement, qualify for the
&#147;short-term&#148; deferral exception under Treasury Regulations &#167; <FONT STYLE="white-space:nowrap">1.409A-1(b)(4),</FONT> the &#147;separation pay&#148; exception under Treasury Regulations &#167;
<FONT STYLE="white-space:nowrap">1.409A-1(b)(9)(iii),</FONT> or any other exception under Section&nbsp;409A will be paid under the applicable exceptions to the greatest extent possible. Notwithstanding the foregoing, the Corporation and the Bank
make no representation or covenant to ensure that the payments and benefits under this Agreement are exempt from, or compliant with, Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">19. <U>Taxes</U>. Notwithstanding any other provision of this Agreement to the contrary, the Affiliated Entities may withhold from all amounts
payable or provided under this Agreement all federal, state, local and foreign taxes that are required to be withheld pursuant to any applicable laws and regulations. Executive shall be responsible for the payment of Executive&#146;s portion of any
and all required federal, state, local and foreign taxes incurred, or to be incurred, in connection with any amounts payable or provided under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>(signature page follows) </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the Parties have executed and delivered this Employment Separation Agreement and Release as
of the day and year set forth below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">BANC OF CALIFORNIA, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Doug Bowers</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">BANC OF CALIFORNIA, INC.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Doug Bowers</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President and CEO</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">BANC OF CALIFORNIA, N.A.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Manisha Merchant</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">BANC OF CALIFORNIA, N.A.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Manisha Merchant</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">EVP and Deputy General Counsel</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">EXECUTIVE</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ J. Francisco A. Turner</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">J. Francisco A. Turner</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>(signature page to Employment Separation Agreement and Release) </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g407332g0614110850058.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g407332g0614110850058.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  T /$# 2(  A$! Q$!_\0
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M)%&I=V/0 <DUG^'_ !!8>)=+&H:<[-"7*$.NUE(]1^1_&ES.P^57,Y-/N?\
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K "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@#_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
