EX-99.1 2 f23852exv99w1.htm EXHIBIT 99.1 exv99w1
 

Exhibit 99.1
September 21, 2006
To:   Dave Bonaccorso
Hoefer & Arnett (“Broker”)
Re:   Bank of Commerce Holdings (“Issuer”)
Broker Instructions for SEC Rule 10b5-1 Plan
(BOCH NASDAQ LOGO)


This Stock Repurchase Plan (“Plan”) will run from September 25, 2006 to November 30, 2006 (“Order Period”). Broker must comply at all times with the provisions of SEC Rule 10b-18 (“10b-18”) under the Securities Exchange Act of 1934, as amended, and all other SEC rules pertaining to common share repurchases for each purchase of shares under this Plan.
Under this Plan, Issuer instructs Broker to purchase up to 175,000 common shares of Issuer’s common stock for the benefit of Issuer’s stock repurchase account. On each day during the Order Period in which the Nasdaq Market (the “Market”) is open and the Stock trades regular way in the Market, Broker can execute trades in an aggregate quantity not to exceed the daily share limit prescribed by 10b-18. In addition, Broker can execute one block trade per week in a quantity greater than the minimum prescribed under 10b-18 and less than or equal to 10,000 shares. Issuer agrees to pay a commission of 10 cents per share and shall pay no more than the following prices, before commissions.
     
Week   Price
September 25   10.90
October 2   11.00
October 9   11.10
October 16   11.25
October 23   11.50
October 30   11.75
November 30   12.00
It is the intent of the parties that this Plan comply with the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act and this Plan shall be interpreted to comply with the requirements of Rule 10b5-1(c). Furthermore, this Plan has been approved as a 10b5-1 trading plan by Issuer’s Chief Compliance Officer or outside legal counsel.
Issuer may modify or terminate this Plan at any time by giving written notice to Broker.
Please notify me no later than one business day following each purchase of shares pursuant to this Plan with the number of shares purchased and the purchase price per share.
Sincerely,
/s/ Linda J. Miles
Linda J. Miles
Chief Financial Officer
Bank of Commerce Holdings

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