Document:

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                                                                EXHIBIT 10.42.01

               FIRST AMENDMENT TO THE WESTCORP CAFETERIA PLAN WITH
              FLEXIBLE SPENDING ARRANGEMENT PARTICIPATION AGREEMENT

      THIS FIRST AMENDMENT TO THE WESTCORP CAFETERIA PLAN WITH FLEXIBLE SPENDING
ARRANGEMENT PARTICIPATION AGREEMENT, among Westcorp, a California corporation,
(hereinafter referred to as the "the Plan Sponsor"), and the following
subsidiaries: Western Financial Associate Solutions, a California corporation,
Western Financial Bank, a federally chartered savings bank, WFS Financial Inc.,
a California corporation, WestFin Insurance Agency, Inc., a California
corporation, WFS Receivables Corporation, a Nevada corporation, and Westran
Services corporation, a California corporation (each individually referred to as
"Subsidiary" and collectively referred to as "Subsidiaries"), and the BENEFIT
PLAN COMMITTEE, on behalf of the Westcorp Cafeteria Plan with Flexible Spending
Arrangements (the "Plan"), is effective as of December 1, 2004.

                                    RECITALS

      WHEREAS, the parties have entered into a Westcorp Executive Deferral Plan
V Participation Agreement, effective as January 1, 2004. ("Agreement"); and

      WHEREAS, the parties desire to amend the Agreement to include WFS
Receivables Corporation 3, a California corporation, as a "Subsidiary" to the
Agreement;

      WHEREAS, WFS Receivables Corporation 3 has been appoved as such by the
Benefit Plan Committee pursuant to Section 10.2 of the Plan as an entity
eligible to sponsor the Plan; and

      WHEREAS, WFS Receivables Corporation 3, pursuant to resolutions adopted by
its Board of Directors, has accepted its designation as an entity eligible to
sponson the Plan, and has specifically indicated its desire to adopt the Plan
and be bound by its terms.

      NOW, THEREFORE, in consideration of the mutual covenants and promises
contained in the Agreement and in this Addendum and for other good and
sufficient consideration, the Agreement is amended as follows:

                                    AGREEMENT

      WFS Receivables Corporation 3 is included as a Subsidiary to the Agreement
effective as of December 1, 2004.

      Except as amended specifically herein, all terms and conditions of the
Agreement shall remain in full force and effect.

      All capitalized terms not herein defined shall have the same meaning as
set forth in the Agreement.

      This Amendment may be executed in any number of counterparts and by
separate parties hereto on separate counterparts, each of which when executed
shall be deemed an original, but all such counterparts taken together shall
constitute one and the same instrument.

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      IN WITNESS WHEREOF, the undersigned have executed this Amendment on the
date set forth below.

WESTCORP

By:_____________________________________       Date: ___________, 2004
   Thomas A. Wolfe, President

WESTERN FINANCIAL ASSOCIATE SOLUTIONS

By:_____________________________________       Date: ___________, 2004
   Karen Marchak, President

WESTERN FINANCIAL BANK

By:_____________________________________       Date: ___________, 2004
   Thomas A. Wolfe, President

WESTFIN INSURANCE AGENCY, INC.

By:_____________________________________       Date: ___________, 2004
   Thomas A. Wolfe, President

WFS RECEIVABLES CORPORATION

By:_____________________________________       Date: ___________, 2004
   John Coluccio, President

WESTRAN SERVICES CORPORATION

By:_____________________________________       Date: ___________, 2004
   Shelley M. Chase, President

WESTCORP EXECUTIVE DEFERRAL PLAN V

By:_____________________________________       Date: ___________, 2004
   Shaunna Monticelli on behalf of the
   Benefit Plan Committee for the Plan

WFS RECEIVABLES CORPORATION 3

By:_____________________________________       Date: ___________, 2004
   Keith Ford, Assistant Vice President<PAGE>

                                                                   EXHIBIT 10.43

                      WESTCORP ESOP AND SALARY SAVINGS PLAN

                             PARTICIPATION AGREEMENT

      THIS AGREEMENT, among Westcorp, a California corporation, (hereinafter
referred to as the "the Plan Sponsor"), and the following subsidiaries: Western
Financial Associate Solutions, a California corporation, Western Financial Bank,
a federally chartered savings bank, WFS Financial Inc, a California corporation,
WestFin Insurance Agency, Inc., a California corporation, WFS Receivables
Corporation, a Nevada corporation, and Westran Services corporation, a
California corporation (each individually referred to as "Subsidiary" and
collectively referred to as "Subsidiaries"), and the Administrative committee,
on behalf of the Westcorp ESOP and Salary Savings Plan (the "Plan"), is
effective as of January 1, 2004.

      WHEREAS, the Plan Sponsor originally adopted the Plan effective January 1,
1975, and its sponsorship of the Plan remains in effect;

      WHEREAS, each Subsidiary, in accordance with Section 2.13 of the Plan, has
been approved by the Administrative Committee as an entity eligible to sponsor
the Plan; and

      WHEREAS, each Subsidiary, pursuant to resolutions adopted by its Board of
Directors, has accepted it designation as an entity eligible to sponsor the
Plan, and has specifically indicated its desire to adopt the Plan and be bound
by its terms.

      NOW, THEREFORE, it is mutually agreed as follows:

      1.    Each Subsidiary hereby adopts the Plan and accepts co-sponsorship of
            the Plan with the Plan Sponsor, effective as of the date specified
            above, and specifically

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            agrees to be bound by the terms of the Plan as restated effective
            January 1, 2001 and as subsequently amended.

      2.    Each Subsidiary hereby agrees that the Plan Sponsor and/or the
            Administrative Committee can amend the Plan and Trust documents as
            provided in the documents, to be bound by any such amendments
            entered into by the Plan Sponsor and/or the Administrative Committee
            in accordance with Section 17.1 of the Plan, and that it shall be
            deemed to have approved such amendments.

      3.    Each Subsidiary hereby agrees that the Plan shall be administered by
            the Administrative Committee as provided in Section 11.3 of the
            Plan.

      4.    To the extent not specified by the terms of the Plan, each
            Subsidiary agrees that the Plan Sponsor shall have the sole
            authority and discretion to determine the amounts of employer
            contributions that the Subsidiary shall make to the Plan.

      5.    The Plan Sponsor accepts the adoption and co-sponsorship of the Plan
            by the Subsidiary, effective as of the date specified above.

      6.    The Administrative Committee agrees to the adoption and
            co-sponsorship of the Plan by the Subsidiary, effective as of the
            date specified above.

                                        2
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      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed this___________ day of _________________, 2004.

                                        WESTCORP

                                        By:___________________________________

                                        WESTERN FINANCIAL ASSOCIATE SOLUTIONS

                                        By:___________________________________

                                        WESTERN FINANCIAL BANK

                                        By:___________________________________

                                        WFS FINANCIAL INC

                                        By:___________________________________

                                        WESTFIN INSURANCE AGENCY, INC.

                                        By:___________________________________

                                        WFS RECEIVABLES CORPORATION

                                        By:___________________________________

                                        3
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                                        WESTRAN SERVICES CORPORATION

                                        By:___________________________________

                                        WESTCORP ESOP AND SALARY SAVINGS PLAN

                                        By:___________________________________

                                           Shaunna Monticelli on behalf of the
                                           Administrative Committee for the Plan<PAGE>

                                                                 EXHIBIT 10.43.1

          FIRST AMENDMENT TO THE WESTCORP ESOP AND SALARY SAVINGS PLAN
                             PARTICIPATION AGREEMENT

      THIS FIRST AMENDMENT TO THE WESTCORP ESOP AND SALARY SAVINGS PLAN
PARTICIPATION AGREEMENT, among Westcorp, a California corporation, (hereinafter
referred to as the "the Plan Sponsor"), and the following subsidiaries: Western
Financial Associate Solutions, a California corporation, Western Financial Bank,
a federally chartered savings bank, WFS Financial Inc, a California corporation,
WestFin Insurance Agency, Inc., a California corporation, WFS Receivables
Corporation, a Nevada corporation, and Westran Services corporation, a
California corporation (each individually referred to as "Subsidiary" and
collectively referred to as "Subsidiaries"), and the Administrative committee,
on behalf of the Westcorp ESOP and Salary Savings Plan (the "Plan"), is
effective as of December 1, 2004.

                                    RECITALS

      WHEREAS, the parties have entered into a Westcorp Executive Deferral Plan
V Participation Agreement, effective as January 1, 2004 ("Agreement");

      WHEREAS, the parties desire to amend the Agreement to include WFS
Receivables Corporation 3, a California corporation, as a "Subsidiary" to the
Agreement;

      WHEREAS, WFS Receivables Corporation 3 has been appoved by the
Administrative Committee pursuant to Section 2.13 of the Plan as an entity
eligible to sponsor the Plan; and

      WHEREAS WFS Receivables Corporation 3, pursuant to resolutions adopted by
its Board of Directors, has accepted its designation as an entity eligible to
sponsor the Plan, and has specifically indicated its desire to adopt the Plan
and be bound by its terms.

      NOW, THEREFORE, in consideration of the mutual covenants and promises
contained in the Agreement and in this Addendum and for other good and
sufficient consideration, the Agreement is amended as follows:

                                    AGREEMENT

      WFS Receivables Corporation 3 is included as a Subsidiary to the Agreement
effective as of December 1, 2004.

      Except as amended specifically herein, all terms and conditions of the
Agreement, shall remain in full force and effect.

      All capitalized terms not herein defined shall have the same meaning as
set forth in the Agreement.

      This Amendment may be executed in any number of counterparts and by
separate parties hereto on separate counterparts, each of which when executed
shall be deemed an original, but all such counterparts taken together shall
constitute one and the same instrument.

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      IN WITNESS WHEREOF, the undersigned have executed this Amendment on the
date set forth below.

WESTCORP

By:_____________________________________       Date: December  __, 2004
   Thomas A. Wolfe, President

WESTERN FINANCIAL ASSOCIATE SOLUTIONS

By:_____________________________________       Date: December  __, 2004
   Karen Marchak, President

WESTERN FINANCIAL BANK

By:_____________________________________       Date: December  __, 2004
   Thomas A. Wolfe, President

WESTFIN INSURANCE AGENCY, INC.

By:_____________________________________       Date: December  __, 2004
   Thomas A. Wolfe, President

WFS RECEIVABLES CORPORATION

By:_____________________________________       Date: December  __, 2004
   John Coluccio, President

WESTRAN SERVICES CORPORATION

By:_____________________________________       Date: December  __, 2004
   Shelley M. Chase, President

Westcorp EXECUTIVE DEFERRAL PLAN V

By:_____________________________________       Date: December  __, 2004
   Shaunna Monticelli on behalf of the
   Administrative Committee for the Plan

WFS RECEIVABLES CORPORATION 3

By:_____________________________________       Date: December  __, 2004
   Keith Ford, Secretary

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