CENTRAL VALLEY COMMUNITY BANK
EMPLOYEE AND DIRECTOR PREFERRED INTEREST BONUS PLAN
Central Valley Community Bank (the “Bank”) hereby establishes an employee bonus plan (the “Plan”),
pursuant to which preferred limited liability company interests (“Preferred Interests”) in Central Valley
Community Realty, LLC, a Delaware limited liability company (“CVC Realty”), are to be distributed to certain
employees and directors of the Bank and its direct and indirect subsidiaries.
PURPOSE OF PLAN
CVC Realty is a recently formed indirect subsidiary of the Bank. The assets of CVC Realty will
consist primarily of real estate related assets, including mortgage loan participations. It is expected that CVC
Realty will reinvest the proceeds received upon repayment of the principal and interest of such assets in similar
real estate related assets to the extent not otherwise distributed to the members of CVC Realty.
CVC Realty intends to conduct its operations so as to qualify as a real estate investment trust (a
“REIT”) for Federal income tax purposes. As a condition to qualifying as a REIT, CVC Realty must have at
least 100 equity owners. In order to meet this requirement, the Bank has decided to distribute Preferred
Interests in CVC Realty to directors of the Bank and to certain key employees of the Bank as an employee
benefit under the Plan.
2.1 Administrator . The individual or individuals designated by the Board from time to time to
administer the Plan. The initial Administrator shall be the Compensation Committee of the Bank.
2.2 Affiliate . Each corporation that is designated as an Affiliate by the Bank pursuant to
2.3 Bank . Central Valley Community Bank, a California state bank , and its successors and
2.4 Board . The Board of Directors of the Bank.
2.5 CVC Realty Limited Liability Company Operating Agr