Exhibit 10.1.3.1

 

FIRST AMENDMENT

 

TO

 

PACIFIC CAPITAL BANCORP

AMENDED AND RESTATED INCENTIVE AND

INVESTMENT AND SALARY SAVINGS PLAN

 

January 1, 2001 Restatement

 

The Pacific Capital Bancorp Amended and Restated Incentive and Investment and
Salary Savings Plan, established effective January 1, 1996, as amended and
restated effective January 1, 2001, is hereby further amended, effective as of
January 1, 2002, in the following respects:

 

1. Section 4.2 of the Plan is amended to provide as follows:

 

  4.2 Amount of Tax-Deferred Contributions

 

The amount of Tax-Deferred Contributions to be made to the Plan on behalf of an
Eligible Employee by his Employer shall be an integral percentage of his
Compensation of not less than one percent nor more than 80 percent. In the event
an Eligible Employee elects to have his Employer make Tax-Deferred Contributions
on his behalf, his Compensation shall be reduced for each payroll period by the
percentage he elects to have contributed on his behalf to the Plan in accordance
with the terms of his currently effective reduction authorization.

 

2. Section 6.14 of the Plan has been modified to provide as follows:

 

  6.14 Vesting of Employer Contributions

 

A Participant’s vested interest in his Qualified Nonelective, Qualified
Matching, Safe Harbor Matching, Regular Matching and Prior Matching
Contributions Sub-Accounts shall be at all times 100 percent.

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The vested interest of a Participant in his Prior Employer Discretionary
Contributions Sub-Account shall be determined in accordance with the following
schedule:

 

Year of Vesting Service

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   Vested Interest

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Less than 1

   0 %

1, but less than 2

   33.33 %

2, but less than 3

   66.67 %

3 or more

   100 %

 

A Participant’s vested interest in his Prior Pacific Capital Bancorp
Profit-Sharing Contributions Sub-Accounts with respect to such contributions
made on and after the respective mergers shall be determined in accordance with
the following schedule:

 

Years of Vesting Service

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   Vested Interest

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Less than 1

   0 %

1, but less than 2

   20 %

2, but less than 3

   40 %

3, but less than 4

   60 %

4, but less than 5

   80 %

5 or more

   100 %

 

A Participant’s vested interest in his Profit-Sharing Contributions Sub-Account
shall be determined in accordance with the following schedule:

 

Years of Vesting Service

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   Vested Interest

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Less than 2

   0 %

2, but less than 3

   20 %

3, but less than 4

   30 %

4, but less than 5

   40 %

5, but less than 6

   60 %

6 but less than 7

   80 %

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Years of Vesting Service

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   Vested Interest

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7 or more

   100 %

 

Notwithstanding the foregoing, if a Participant is employed by an Employer or a
Related Company on his Normal Retirement or Early Retirement Date, the date he
becomes Disabled, or the date he dies, his vested interest in his
Profit-Sharing, Prior Pacific Capital Bancorp Profit-Sharing, and Prior Employer
Discretionary Contributions Sub-Accounts shall be 100 percent.

 

*    *    *

 

EXECUTED at                                         
                                                 ,
                                        , this                      day of
                    ,                     .

 

PACIFIC CAPITAL BANCORP By:  

 

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Title:  

 

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