Third Amendment to Employment Agreement by and among PCB Bank, PCB Bancorp, and Henry Kim

Summary

This amendment updates the employment agreement between PCB Bank, PCB Bancorp, and Henry Kim. It changes the paid time off (PTO) policy, granting Henry Kim four weeks of PTO per year and capping the maximum accrued PTO at six weeks. All other terms of the original agreement remain unchanged. The amendment is effective as of December 28, 2023.

EX-10.1C 2 pcb10qex101c202503.htm EX-10.1C Document

Exhibit 10.1C

THIRD AMENDMENT TO

EMPLOYMENT AGREEMENT

THIS THIRD AMENDMENT TO EMPLOYMENT AGREEMENT (the “Third Amendment”) is entered into as of December 28, 2023, by and between PCB Bank (“Bank”), PCB Bancorp, a California corporation and registered bank holding company (“Company”) and Henry Kim (“Executive”).

WHEREAS, the Bank and Company entered into an Employment Agreement with Executive (the “Agreement”) dated January 1, 2018, as amended by the First Amendment to Employment Agreement dated August 26, 2021 and amended by the Second Amendment dated December 28, 2021; and

WHEREAS, Executive, the Bank and Company have agreed to amend the Agreement to provide Executive certain changed compensation;

NOW, THEREFORE, for good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Bank and Company and the Executive hereto agree as follows:

1. Section 6(f) of the Agreement is amended and restated in its entirety to read as follows:

Executive shall be entitled to four weeks of paid time off (“PTO”) per year and accrued PTO balance cannot exceed six weeks anytime during the Term.

[This space intentionally blank.]

[Signature page to Third Amendment to Employment Agreement]

IN WITNESS WHEREOF, the parties hereto have executed this Third Agreement as of the day and year first above written.

THE EXECUTIVE

PCB BANK

/s/ Henry Kim

By:

/s/ Sang Young Lee

Henry Kim

Sang Young Lee

Chairman of the Board

PCB BANCORP

By:

/s/ Sang Young Lee

Sang Young Lee

Chairman of the Board