Russell Goldsmith Employment Agreement Expiration and Stock Option Grant

Summary

This document states that the employment agreement between Russell Goldsmith, Chief Executive Officer, and City National Bank expired on July 15, 2002. A new agreement is being negotiated and is expected to be finalized in the third quarter of 2002. In the interim, the Compensation Committee granted Mr. Goldsmith 250,000 non-qualified stock options under the Corporation's 2002 Omnibus Plan, which was approved by shareholders in April 2002.

EX-10.22-21 3 a2086860zex-10_2221.htm EXHIBIT 10.22.21
QuickLinks -- Click here to rapidly navigate through this document

Exhibit 10.22.21

RUSSELL GOLDSMITH
EMPLOYMENT AGREEMENT

The Employment Agreement dated July 15, 1998 (as amended on March 5, 2001) between Russell Goldsmith, Chief Executive Officer, and the Registrant and City National Bank expired in accordance with its terms on July 15, 2002. A new Employment Agreement is currently under negotiation, and is expected to be completed in the third quarter of 2002. In anticipation of completing the ongoing employment agreement negotiations, by action of the Compensation Committee of the Board of Directors of the Corporation on July 24, 2002, Russell Goldsmith received a grant of 250,000 non-qualified stock options under the terms of the Corporation's 2002 Omnibus Plan. The 2002 Omnibus Plan was approved by the shareholders of the Corporation on April 24, 2002.

QuickLinks