Exercise Form. In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed and completed and delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares being purchased payable in cash by wire transfer of immediately available funds to an account designated by the Company or by certified check or official bank check. If the subscription rights represented hereby shall not be exercised at or before ​, Eastern time, on the Expiration Date, this Purchase Warrant shall become and be void without further force or effect, and all rights represented hereby shall cease and expire.

Form of Exercise. Each election to exercise this option shall be accompanied by a completed Notice of Stock Option Exercise in the form attached hereto as [Exhibit A], signed by the Participant, and received by the Company at its principal office, accompanied by this Agreement, and payment in full in the manner provided in the Plan. The Participant may purchase less than the number of Shares covered hereby, provided that no partial exercise of this option may be for any fractional share or for fewer than ten whole shares.

A Participant's Pre-2005 Benefit shall be paid in the form elected by the Participant in accordance with the terms of the First Bancorp Employees' Pension Plan, and his Post-2004 Benefit shall be paid in the form elected by the Participant pursuant to [Section 9.l(b)]. In either case, a benefit payable in any form other than a straight life annuity shall be the Actuarial Equivalent of such benefit payable as a straight life annuity.

Distributions of Deferrals of Stock Awards granted in ​ and later years shall be made in Stock, with any fractional shares of Stock and any portion of such distribution that is derived from cash dividends on deferred Restricted Stock Awards to be made in cash. All other Plan distributions shall be made in cash.

Form of Policies. The minimum limits of policies of insurance required of ​ under this Lease shall in no event limit the liability of ​ under this Lease. Such insurance shall # in the case of the coverage required under [Sections 10.3.1 and 10.3.3]3] above, name ​, and any other party ​ reasonably specifies, as an additional insured, including ​’s managing agent, if any; # cover the liability assumed by ​ under this Lease, including, but not limited to, ​’s obligations under [Section 10.1] of this Lease; # be issued by an insurance company having a rating of not less than A-VIII in Best’s Insurance Guide or which is otherwise acceptable to ​ and licensed to do business in the State of California; # be primary insurance as to all claims thereunder and provide that any insurance carried by ​ is excess and is non-contributing with any insurance requirement of ​; # be in form and content reasonably acceptable to ​; and # if commercially available, provide that said insurance shall not be canceled or coverage changed unless thirty (30) days’ prior written notice shall have been given to ​ and any mortgagee of ​ (provided, however, that as of the date of this Lease, ​ acknowledges that a majority of insurers are unwilling to provide the endorsement described in this [clause (vi)] and agrees that if ​’s insurer is similarly unwilling to provide such endorsement, ​’s obligation pursuant to the provisions of this [clause (vi)] shall be to promptly notify ​ upon receipt by ​ of any notice from ​’s insurer of any cancellation, failure to renew, reduction of amount of insurance or change

Form of Payment. On or around the Closing Date (as defined below), the Buyer shall pay the purchase price of ​ (the “Purchase Price”) for the Note, by wire transfer of immediately available funds, in accordance with the Company’s written wiring instructions, against delivery of the Note, and # the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer.

Form of Payment. The vested value of a Participant's Account shall be paid in a single lump sum by the Employer in cash, less applicable payroll and withholding taxes.

Form of Benefit. The Participant’s Retirement Benefit shall be paid in the form of a cash lump sum. This lump sum payment shall equal the Actuarial Equivalent present value of the Participant’s Retirement Benefit.

Distributions of amounts credited to each Participant’s Cash Account shall be made in cash.

Form of Payment. Payment of the amount determined under [[Sections 7(b)(3) or 7(c)])]], may be made solely in whole shares of Common Stock in a number determined at their Fair Market Value on the date of exercise of the Stock Appreciation Right or, alternatively, at the sole discretion of the Committee, solely in cash, or in a combination of cash and Shares as the Committee deems advisable. If the Committee decides to make full payment in Shares, and the amount payable results in a fractional Share, payment for the fractional Share will be made in cash.

Distributions made to a Participant with respect to his or her Cash Deferred Account shall be paid in cash in a single lump sum after the applicable Distribution Event.

Form of Consideration. The Administrator shall determine the acceptable form of consideration for exercising an Option, including the method of payment. Such consideration may consist entirely of: