SAN JOAQUIN BANCORP STOCK OPTION PLAN
MAY 1, 1989
(Amended September 26, 1989)
(Amended March 22, 1994)
(Amended July 19, 1994)
(Amended May 20, 1997)
(Amended July 31, 2006)
The purpose of the San Joaquin Bancorp Stock Option Plan (the "Plan") is to strengthen San Joaquin Bank
(the "Bank"), and those corporations which are or hereafter become subsidiary corporations of the Bank, by
providing to participating employees and directors added incentive for high levels of performance and for unusual
efforts to increase the earnings of the Bank and its subsidiary corporations. The Plan seeks to accomplish these
purposes and results by providing a means whereby such employees and directors may purchase shares of the
common stock of San Joaquin Bancorp pursuant to options granted under the Plan.
Effective July 31, 2006, San Joaquin Bancorp has assumed sponsorship of the Plan for the purpose of
administering any and all outstanding option awards under the Plan on a prospective basis.
This Plan shall be administered by the Board of Directors of San Joaquin Bancorp (the "Board of Directors").
Any action of the Board of Directors with respect to administration of the Plan shall be taken pursuant to a
majority vote, or to the unanimous written consent, of its members.
Subject to the express provisions of the Plan, the Board of Directors shall have the authority to construe and
interpret the Plan and to define the terms used therein, to prescribe, amend, and rescind rules and regulations
relating to administration of the Plan, to determine the duration and purposes of leaves of absence which may be
granted to participants without constituting a termination of their employment for purposes of the Plan, and to
make all other determinations necessary or advisable for administration of the Plan. Determinations of the Board
of Directors on matters referred to in this paragraph shall be final and conclusive.
All full-time, salaried officers and employees of the Bank an