BayCom amends executive SERPs to extend contributions beyond 2023, adjusts death benefits

BayCom Corp

Removed 2023 as final service period; contributions can continue if performance goals met.
Deleted non-compete provisions to comply with current California law.
Death benefits enhanced: beneficiaries now receive SERP accrued liability balance plus existing formula (lesser of $1.5M or 50% net-at-risk).
CEO Guarini 90% vested (100% by Oct 2023); King and Colwell 50% vested (100% by 2027).
Annual SERP contributions range from 0% to 61.36% of base salary for CEO, based on performance targets.

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