Common use of The Position Clause in Contracts

The Position. The Executive agrees to be employed (a) as Vice Chairman of the Board and President of Parent, commencing as of the Effective Date, and (b) as Vice Chairman of the Board and President of the Bank upon approval of the Federal Deposit Insurance Corporation (“FDIC”) and the Commissioner of the Department of Financial Institutions for the state of California (“DFI”). The Executive shall be based at either the Parent’s headquarters in Santa Monica, California, the Bank’s headquarters in Brea, California or as otherwise determined by the parties. Notwithstanding the foregoing the Company understands and agrees that Executive may from time to time physically render services from an alternative location; provided, however, that the Executive will generally work out of the Company’s offices.

The Position. The Executive agrees to be employed (a) as Executive Vice Chairman of the Board President and President Chief Financial Officer of Parent, commencing as of the Effective Date, and (b) as Executive Vice Chairman of the Board President and President Chief Financial Officer of the Bank upon approval of the Federal Deposit Insurance Corporation (“FDIC”) and the Commissioner of the Department of Financial Institutions for the state of California (“DFI”). The Executive shall be based at either the Parent’s headquarters in Santa Monica, California, the Bank’s headquarters in Brea, California or as otherwise determined by the parties. Notwithstanding the foregoing the Company understands and agrees that Executive may from time to time physically render services from an alternative location; provided, however, that the Executive will generally work out of the Company’s offices.

The Position. The Executive agrees to be employed (a) as Executive Vice Chairman of the Board President and President Chief Administrative Officer of Parent, commencing as of the Effective Date, and (b) as Executive Vice Chairman of the Board President and President Chief Administrative Officer of the Bank upon approval of the Federal Deposit Insurance Corporation (“FDIC”) and the Commissioner of the Department of Financial Institutions for the state of California (“DFI”). The Executive shall be based at either the Parent’s headquarters in Santa Monica, California, the Bank’s headquarters in Brea, California or as otherwise determined by the parties. Notwithstanding the foregoing the Company understands and agrees that Executive may from time to time physically render services from an alternative location; provided, however, that the Executive will generally work out of the Company’s offices.

The Position. The Executive agrees to be employed (a) as Executive Vice Chairman of the Board President and President General Counsel of Parent, commencing as of the Effective Date, and (b) as Executive Vice Chairman of the Board President and President General Counsel of the Bank upon approval of the Federal Deposit Insurance Corporation (“FDIC”) and the Commissioner of the Department of Financial Institutions for the state of California (“DFI”). The Executive shall be based at either the Parent’s headquarters in Santa Monica, California, the Bank’s headquarters in Brea, California or as otherwise determined by the parties. Notwithstanding the foregoing the Company understands and agrees that Executive may from time to time physically render services from an alternative location; provided, however, that the Executive will generally work out of the Company’s offices.