EX-10.1
        
        
                
                    from 8-K
                
                    
                            2 pages                    
            Position: President of Mission Community Bancorp and President & Chief Executive Officer of Mission Community Bank Reporting To: James Lokey, Chairman and Chief Executive Officer, Mission Community Bancorp Start Date: Tbd Base Salary: $300,000.00 Per Annum. Salary Will Be Reviewed at Least Annually and May Be Adjusted Accordingly Based on Performance. Our Compensation Philosophy Is to Pay Our Executives Total Cash Compensation, (Salary and Bonus), in the 75 Percentile Based on Individual and Bank Performance of Peer Banks. Contract Payout: $150,000.00 Total, With $75,000.00 Payable Upon Accepting and Signing of the Offer Letter and $75,000.00 in January 2012. Moving Expense: Up to $10,000.00 to Be Paid Directly to the Moving Company Upon Your Relocation. Annual Bonus: The Bank Incentive Plan Is Currently Being Developed in Compliance With Recently Issued Regulatory Guidelines. the Plan Recommendation at This Time Is 25% of Base Salary for Minimum Achievement of Goals, 50% for Target Achievement of Goals and 75% for Exceeds Achievement of Goals. for Calendar Year 2012, Your Bonus Will Be Guaranteed at the 25% Level or $75,000.00 and Payable in the First Quarter of 2013
        
        
                12/34/56