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Bay Area Bank Severance Pay Policy

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Exhibit 10.24


BAY AREA BANK
SEVERANCE PAY POLICY


Severance Pay. In the event that an employee of Bank is terminated due to job - ------------- elimination or layoff, the terminated employee will be paid a sum equal to one (1) week current salary for each full year of employment with Bank ("Severance Pay"), but in no event shall the total number of weeks salary to which the employee is entitled exceed twenty-six (26) weeks.


Change of Control. In the event that the Bank undergoes a change of control and - ----------------- an employee's employment with Bank or its successor is terminated within twenty- four (24) months following the change of control, due to job elimination, layoff or resignation for good reason, that employee's Severance Pay will be as follows:


Nonexempt: If less than two (2) years of service, then four (4) weeks'
---------
current salary. If over two (2) years of service, then four (4) weeks plus
one (1) week for each year of service up to a maximum of twenty-six (26)
weeks' current salary.


Exempt up through Assistant Vice President: If less than two (2) years of
------------------------------------------
service, then eight (8) weeks' current salary. If over two (2) years of
service, then eight (8) weeks plus
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