California BanCorp enters amended employment agreement with CEO David I. Rainer through 2029

California BanCorp \ CA

CEO David I. Rainer's amended employment agreement runs from March 1, 2026 to March 1, 2029, plus one year as Executive Director.
Base salary set at $62,500 per month ($750,000 annual) during employment term; $9,166.66 monthly during director term.
Restricted stock award of $1,200,000 granted under 2019 Omnibus Plan, vesting 50% at year 2 and 50% at year 3.
Severance: 12 months' salary on termination without cause; in change of control, 36 months' salary plus 3x average annual bonus.
Automobile allowance of $1,500 per month; company to provide office space within 10 miles of CEO's residence.

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