Exhibit 10.26


WEST COAST BANCORP
 DIRECTORS’ DEFERRED COMPENSATION PLAN
 (Interim Plan Document for Operational Compliance with the
 American Jobs Creation Act)


Effective as of January 1, 2005

	
  
1.
  	
  
PURPOSE.  The purpose of this interim plan document   is to provide the documentation demonstrating the good faith compliance by   West Coast Bancorp (“Bancorp”) with the requirements of the American Jobs   Creation Act (the “Act”), pending the issuance of guidance by the Department   of the Treasury and the Internal Revenue Service regarding the specific plan   language required for compliance with the Act. Bancorp intends to supplant   this interim plan document with a formal, permanent plan document following   the issuance of that guidance.    Bancorp intends to adopt the formal, permanent plan document within   the amendment compliance period that may be announced by the Department of   the Treasury or the Internal Revenue Service.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
2.
  	
  
EFFECTIVE DATE.  This interim plan document will be   effective January 1, 2005, with respect to amounts deferred after December   31, 2004.
  
	
   
  	
  
 
  	
  
 
  
	
  
3.
  	
  
GENERAL TERMS AND   CONDITIONS.  This interim document incorporates by   reference the terms and conditions of the West Coast Bancorp Directors’   Deferred Compensation Plan as adopted May 1, 1996, and as amended through   Amendment No. 1 (the “1996 Plan”), to the extent those terms and   conditions are consistent with the Act, except that the provisions of the following   sections shall supersede any provisions of the 1996 Plan to the contrary.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
4.
  	
  
MODIFICATION OF DEFERRAL   ELECTIONS.  Except to the extent provided under   regulations or other guidance issued under the Act and as allowed in a plan   amendment or policies and procedures adopted by the Plan Administrator,   deferral elections may not be modified or revoked.
  
	
  
 
  	
  
 
  	
  
 
  
	
  5.
  	
  
TIME FOR PAYMENT.  A Participant may elect, on an enrollment   form, either a specific date or a fixed schedule of payments starting on a   specified date on which distribution of the Participant’s Account is to be   made after the close of the calendar quarter in which the Participant   terminates employment.  However, if   the amount of the payment cannot be determined by the date payment is due,   payment shall commence no later than 60 days after the amount is ascertained.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
6.
  	
  
ELECTION OF FORM OF   PAYMENT.  Participants shall elect the form of payment   of their benefits on their enrollment forms.
  









	
  
7.
  	
  
CHANGES IN TIME OR   FORM OF PAYMENT.  Participants may change the time or form   of payment they have selected upon the following conditions:
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
(a)
  	
  
The change   cannot take effect for at least 12 months after filing the election change   form required by the Plan Administrator;
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(b)
  	
  
If a   Participant wants to change the specific date on which a payment is to be   made, the Participant must file the required election change form at least   12 months in advance of that date; and
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(c)
  	
  
The   Participant must elect to delay the payment for at least five years from the   original payment date (except in the case of death, disability or a financial   hardship withdrawal).
  
	
  
 
  	
  
 
  	
  
 
  
	
  8.
  	
  
NO ACCELERATION OF BENEFITS.  Neither the time nor the schedule of any   payment under the Plan may be accelerated except to the extent provided under   regulations or other guidance issued under the Act and as allowed in a plan   amendment or policies and procedures adopted by the Plan Administrator.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
9.
  	
  
AMENDMENT AUTHORITY.  The Plan Administrator shall have the   amendment authority with respect to this Plan as it was granted with respect   to the 1996 Plan under Paragraph Five, subparagraph (b) of Amendment No.   2 to the 1996 Plan.
  






	
  
 
  	
  
WEST COAST   BANCORP
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
   
  	
   
  
	
   
  	
  By:
  	
   
  
	
   
  	
   
  	
  


  
	
   
  	
   
  	
  Robert D.   Sznewajs, President and CEO
  
	
   
  	
   
  	
   
  
	
   
  	
  Dated:
  	
    December   14, 2004
  



PAGE 2  DIRECTORS’ DEFERRED COMPENSATION PLAN (INTERIM)