Document:

Exhibit 10.3

                        YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

This Agreement is made as of the Grant Date,  (the "Grant Date") as set forth on
the Certificate of Stock Option Grant available from the Smith Barney Stock Plan
Services website  (WWW.ASTSTOCKPLAN.COM) (the "Certificate") between UnionBanCal
Corporation (the "Company") and the Optionee.

                                   WITNESSETH:

WHEREAS,  the  Company  has  adopted  the  Year  2000  UnionBanCal   Corporation
Management  Stock  Plan (the  "Plan") as an  amendment  and  restatement  of the
predecessor  UnionBanCal  Corporation  Management  Stock  Plan  authorizing  the
issuance of options to purchase  the common  stock of the Company  ("Stock")  to
eligible  individuals  in connection  with the  performance  of services for the
Company and its  Subsidiaries (as defined in the Plan). The Plan is administered
by the  Executive  Compensation  and  Benefits  Committee  ("Committee")  of the
Company's  Board of Directors and is incorporated in this Agreement by reference
and made a part of it; and

WHEREAS,  the Company regards Optionee as a valuable contributor to the Company,
and has determined that it would be to the advantage and interest of the Company
and its  shareholders  to grant the options  provided  for in this  Agreement to
Optionee  as an  inducement  to remain in the  service of the  Company and as an
incentive for increased efforts during such service;

NOW,  THEREFORE,  in  consideration  of the foregoing  premises,  and the mutual
covenants  herein  contained,  the  parties to this  Agreement  hereby  agree as
follows:

1.   (a)  OPTION  GRANT.  The Company  hereby  grants to Optionee  the right and
          option to  purchase  from the  Company  on the  terms  and  conditions
          hereinafter set forth and in the applicable  Certificate and the Plan,
          all or any part of an aggregate number of Shares of Stock shown on the
          Certificate.  This option is not intended to satisfy the  requirements
          of Section 422 of the Internal  Revenue Code of 1986,  as amended (the
          "Code").

     (b)  OPTION PRICE.  The purchase  price of the Stock subject to this option
          shall be the  Option  Price per  share,  as shown on the  Certificate,
          which  price  is not less  than the per  share  Fair  Market  Value as
          defined  in the Plan of such  Stock  as of the  Grant  Date.  The term
          "Option Price" as used in this Agreement  refers to the purchase price
          of the Stock subject to option.

2.   OPTION  PERIOD.  This  option  will be  exercisable  only during the Option
     Period,  and during such Option Period,  the  exercisability  of the option
     shall  be  subject  to the  limitations  of  paragraph  3 and  the  vesting
     provisions  of paragraph 4. The Option  Period shall  commence on the Grant
     Date and except as provided in paragraph 3, shall end on the Terminal  Date
     which shall be ten years from the Grant Date.

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<PAGE>

                       YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

3.   LIMITS ON OPTION  PERIOD.  The Option  Period  may end before the  Terminal
     Date, as follows:

     (a)  If Optionee ceases to be a bona fide employee of the Company or any of
          its Subsidiaries for any reason other than cause, retirement, death or
          disability  (as each is defined  in this  section 3) during the Option
          Period,  the Option Period shall  terminate three (3) months after the
          date  of  such  cessation  of  employment  or on  the  Terminal  Date,
          whichever shall first occur, and Optionee may exercise the option only
          to the extent  exercisable under paragraph 4 on the date of Optionee's
          cessation  of  employment.   Notwithstanding  the  foregoing,  if  the
          Optionee's  employment  is  terminated  under  the  provisions  of the
          Company's  Separation  Pay Plan, the Option Period shall end three (3)
          years after such termination or on the Terminal Date,  whichever shall
          first occur,  and during such  extended  Option  Period,  Optionee may
          exercise  the  entire  unexercised  portion of the  option,  provided,
          however, that this sentence shall not apply to the option if the Grant
          Date is less than six (6) months prior to the date of such termination
          of employment.

     (b)  If  Optionee's  employment  terminates  by reason of  retirement,  the
          Option Period shall end three (3) years after such  termination  or on
          the  Terminal  Date,  whichever  shall first  occur,  and Optionee may
          exercise the entire unexercised  portion of this option (or any lesser
          amount).  For this purpose,  "retire" means  termination of employment
          with the Company or its  Subsidiaries  after  attaining age sixty (60)
          with ten (10)  years of service  or age  sixty-two  (62) with five (5)
          years of service with the Company or any of its Subsidiaries.

     (c)  If Optionee's  employment  terminates by reason of death or disability
          (within  the  meaning of Section  22(e)(3)  of the Code)  while in the
          employ of the Company or its  Subsidiary,  the Option Period shall end
          one year after such  termination  or on the Terminal  Date,  whichever
          shall   first   occur,   and   Optionee   (or   Optionee's   executor,
          administrator,  trustee or the  person or  persons to whom  Optionee's
          rights under this option shall pass by will or the applicable  laws of
          descent and distribution) may exercise the entire unexercised  portion
          of this option (or any lesser amount).

     (d)  If Optionee is on a leave of absence  from the Company or a Subsidiary
          because of disability (within the meaning of subparagraph (c)), or for
          the  purpose of serving  the  government  of the  country in which the
          principal  place of  employment  of Optionee  is located,  either in a
          military or civilian capacity,  or for such other purpose or reason as
          the  Committee  may approve,  Optionee  shall not be deemed during the
          period  of such  absence,  by virtue of such  absence  alone,  to have
          terminated  employment with the Company or a Subsidiary  except as the
          Committee may otherwise expressly provide.

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                       YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

     (e)  If Optionee's  employment with the Company or a Subsidiary  terminates
          for cause during the Option Period,  the Option Period shall terminate
          on the date of such termination of employment and shall not thereafter
          be  exercisable  to  any  extent.   Optionee's   employment  shall  be
          terminated "for cause" if it is because of:

               (i)  theft or  embezzlement by Optionee from, or common law fraud
                    committed   by   Optionee   against,   the  Company  or  its
                    Subsidiaries;

               (ii) conviction   of  Optionee  of  a  felony   involving   moral
                    turpitude;

               (iii)material  breach by Optionee of any obligation he or she may
                    have as an employee  of the  Company  (or its  Subsidiaries)
                    with   respect   to   confidential    information,    unfair
                    competition, or the ownership of intellectual property; or

               (iv) material  breach by Optionee of any other  obligation  he or
                    she  may  have  as  an   employee  of  the  Company  or  its
                    Subsidiaries.

4.   VESTING OF RIGHT TO  EXERCISE  OPTIONS.  The shares  covered by this option
     shall vest  thirty-three and one-third  percent  (33-1/3%) on each one year
     anniversary  of the Grant Date such that all of the  shares  shall be fully
     vested after three (3) years from the Grant Date. Any portion of the option
     that is not  exercised  shall  accumulate  and may be exercised at any time
     during the Option Period prior to the Terminal Date. No partial exercise of
     this  option  may be for less  than 5 percent  (5%) of the total  number of
     shares then available  under this option.  In no event shall the Company be
     required to issue fractional shares.

5.   METHOD OF EXERCISE. Optionee may exercise the option with respect to all or
     any part of the shares of Stock then subject to such exercise as follows:

     (a)  By giving the Company or its designated  representative written notice
          of such  exercise,  specifying  the number of such  shares as to which
          this option is  exercised.  Such  notice  shall be  accompanied  by an
          amount equal to the Option  Price of such shares,  in the form of: (i)
          cash; a certified  check,  bank draft,  postal or express  money order
          payable  to the order of the  Company  in lawful  money of the  United
          States; (ii) by delivery (on a form prescribed by the Committee) of an
          irrevocable direction to a securities broker approved by the Committee
          to sell  shares and  deliver  all or a portion of the  proceeds to the
          Company in payment for the Common Stock;  (iii) Common Stock;  or (iv)
          in any combination of the foregoing.

     (b)  In the  event  that the  shares  are  subject  to any  obligations  or
          restrictions,  the Optionee (and Optionee's  spouse,  if any) shall be
          required, as a condition precedent to acquiring Stock through exercise
          of  the  option,  to  execute  one  or  more  agreements  relating  to
          obligations in connection  with ownership of the

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<PAGE>

                       YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

          Stock or  restrictions  on transfer  of the Stock no less  restrictive
          than the obligations and restrictions to which the other  shareholders
          of the Company are subject at the time of such exercise.

     (c)  If  required  by  the  Company,   Optionee   shall  give  the  Company
          satisfactory assurance in writing, signed by the Optionee or his legal
          representative,  as the  case  may be,  that  such  shares  are  being
          purchased  for  investment  and not  with a view  to the  distribution
          thereof,  provided that such assurance shall be deemed inapplicable to
          (i) any sale of such shares by such Optionee  made in accordance  with
          the terms of a registration  statement  covering such sale,  which may
          hereafter be filed and become  effective  under the  Securities Act of
          1933, as amended,  and with respect to which no stop order  suspending
          the effectiveness  thereof has been issued, and (ii) any other sale of
          such shares with  respect to which,  in the opinion of counsel for the
          Company, such assurance is not required to be given in order to comply
          with the provisions of the Securities Act of 1933, as amended.

          As soon  as  practicable  after  receipt  of the  notice  required  in
          paragraph  5(a)  and  satisfaction  of the  conditions  set  forth  in
          paragraphs 5(b) and 5(c), if applicable, the Company or its designated
          representative  shall, without transfer or issue tax and without other
          incidental  expense to Optionee,  deliver to Optionee at the office of
          the Company,  at 400 California  Street,  San  Francisco,  California,
          attention  of the  Secretary,  or such other  place as may be mutually
          acceptable to the Company and Optionee,  a certificate or certificates
          of such  shares of  Stock;  provided,  however,  that the time of such
          delivery  may be  postponed  by the  Company for such period as may be
          required for it with  reasonable  diligence to comply with  applicable
          registration  requirements  under  the  Securities  Act  of  1933,  as
          amended,  the  Securities  Exchange  Act  of  1934,  as  amended,  any
          applicable listing  requirements of any national securities  exchange,
          and requirements  under any other law or regulation  applicable to the
          issuance or transfer of such shares.

6.   WITHHOLDING OF TAXES. Optionee agrees to make appropriate arrangements with
     the Company (or Subsidiary that employs the  participant) or its designated
     representative for satisfaction of any applicable  federal,  state or local
     income and employment tax  withholding  requirements.  This may include the
     withholding of shares of Stock from the exercise of the option  pursuant to
     such  rules and  procedures  as the  Committee  may  establish.  Any shares
     withheld to satisfy such  withholding  requirements  shall not be available
     for subsequent grants under the Plan.

7.   CORPORATE  TRANSACTIONS.  (a) If there  should be any  change in a class of
     Stock subject to this option through merger, consolidation, reorganization,
     recapitalization,  reincorporation,  stock split, stock dividend (in excess
     of 2 percent) or other  change in the  corporate  structure of the Company,
     the Board and the Committee shall make appropriate  adjustments in order to
     preserve,  but  not  to  increase,  the  benefit  to  Optionee,   including
     adjustments  in the number of shares of such Stock  subject to this  option
     and in the price  per

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                       YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

     share.  (b) Upon the  consummation  of a "Change of Control" (as defined in
     this  paragraph  7(b)),  this option shall vest and/or  become  immediately
     exercisable,  without regard to the vesting  provisions of paragraph 4. For
     the  purposes  of  this  paragraph   7(b),   "Change  of  Control"   means:
     consummation of a reorganization,  merger or consolidation or sale or other
     disposition of the stock or all or  substantially  all of the assets of the
     Company  or the  acquisition  of the  assets  or  stock of  another  entity
     ("Business Combination");  excluding,  however, such a Business Combination
     pursuant to which a Permitted  Holder (as defined in this  paragraph  7(b))
     will   beneficially   own,   directly  or  indirectly,   30%  or  more  of,
     respectively,  the  outstanding  shares of common  stock,  and the combined
     voting power of the then  outstanding  voting  securities  entitled to vote
     generally in the election of directors (together,  the "Company Stock"), as
     the  case  may  be,  of  the  corporation   resulting  from  such  Business
     Combination (including, without limitation, a corporation which as a result
     of such  transaction  owns the Company or all or  substantially  all of the
     Company's assets either directly or through one or more subsidiaries),  and
     no individual,  entity or group (within the meaning of Section 13(d) (3) or
     14(d)(2) of the Securities Exchange Act of 1934, as amended), has a greater
     beneficial  interest,  directly or indirectly,  in the Company Stock than a
     Permitted Holder. For purposes of this definition, "Permitted Holder" shall
     mean  (i) The  Bank of  Tokyo-Mitsubishi,  Ltd.  or any  successor  thereto
     ("BTM"),  (ii)  an  employee  benefit  plan of BTM or  (iii) a  corporation
     controlled by BTM.

8.   LIMITATIONS ON TRANSFER.  In general,  this option shall, during Optionee's
     lifetime, be exercisable only by Optionee,  and neither this option nor any
     right  hereunder  shall be  transferable  by Optionee except as provided by
     law, or with the consent of the Company,  or by will or the laws of descent
     and distribution;  provided, however, that the option may be transferred to
     a trust established by the Optionee for the primary benefit of the Optionee
     and  Optionee's  spouse,  if married,  provided that the trust is revocable
     during the  lifetime of the  Optionee and that the trustee on behalf of the
     trust  agrees in  writing to be bound by the terms and  conditions  of this
     Agreement.  In the  event of any  attempt  by  Optionee  or the  Optionee's
     transferee to gift, transfer,  alienate,  assign, pledge,  hypothecate,  or
     otherwise  dispose  of this  option  or of any right  hereunder,  except as
     provided  for in  this  Agreement,  or in the  event  of  the  levy  of any
     attachment,  execution,  or similar  process  upon the  rights or  interest
     hereby conferred,  the Company at its election may terminate this option by
     notice to Optionee and this option shall thereupon become null and void.

9.   NO SHAREHOLDER RIGHTS. Neither Optionee nor any person entitled to exercise
     Optionee's rights in the event of his death shall have any of the rights of
     a  shareholder  with respect to the shares of Stock  subject to this option
     except to the  extent  the  certificates  for such  shares  shall have been
     issued upon the exercise of this option.

10.  NO EFFECT ON TERMS OF EMPLOYMENT.  Nothing in this  Agreement  shall affect
     the  right  of the  Company  (or  Subsidiary  which  employs  Optionee)  to
     terminate or change the terms of employment of Optionee at any time and for
     any reason, with or without cause.

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                       YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

11.  NO EFFECT ON OTHER PLANS. In the year in which Optionee exercises an option
     or disposes of his or her  interest  in shares of Stock  acquired  under an
     option,  benefits  received under this Plan shall not affect  participation
     in, or the computation of benefits under any other employee benefit plan of
     the Company or its  Subsidiaries.  For  purposes of any bonus or  incentive
     program for which the Optionee is eligible and for purposes of any employee
     benefit plans, to the extent  permitted by applicable laws and by pertinent
     provisions of such plans, the Company or its  Subsidiaries  shall disregard
     any options,  shares of Stock and any other  benefits  received by Optionee
     under this Plan.

12.  NOTICE.  Any notice or other paper required to be given or sent pursuant to
     the terms of this Agreement shall be sufficiently given or served hereunder
     to any party when  transmitted  by  registered or certified  mail,  postage
     prepaid, addressed to the party to be served as follows:

     Company:    Executive Vice President and Director of Human Resources
                 UnionBanCal Corporation
                 400 California Street, 10th Floor
                 San Francisco, CA  94104

     Optionee:   At Optionee's address in the Company's files,  or to such other
                 address as Optionee may specify in writing to the Company.

     Plan Administrator:  Smith Barney Stock Plan Services
                          333 West 34th Street, 9th Floor
                          New York, NY 10001
                          WWW.ASTSTOCKPLAN.COM

     Any party may designate  another  address for receipt of notices so long as
     notice is given in accordance with this paragraph.

13.  COMMITTEE   DECISIONS   CONCLUSIVE.   All  decisions,   determinations  and
     interpretations  of the Committee upon any question  arising under the Plan
     or under this Agreement shall be conclusive and binding on all parties.

14.  MANDATORY  ARBITRATION.  Any  dispute  arising  out of or  relating to this
     Agreement  or the  Certificate,  including  its meaning or  interpretation,
     shall be resolved  solely by arbitration  before an arbitrator  selected in
     accordance  with the rules of the  American  Arbitration  Association.  The
     location for the arbitration shall be in San Francisco,  Los Angeles or San
     Diego as  selected  by the  Company in good  faith.  Judgment  on the award
     rendered  may be entered in any court  having  jurisdiction.  The party the
     arbitrator determines is the prevailing party shall be entitled to have the
     other party pay the expenses of the  prevailing  party,  and in this regard
     the arbitrator  shall have the power to award  recovery to such  prevailing
     party of all  costs and fees  (including  attorneys  fees and a  reasonable
     allocation

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<PAGE>

                       YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

     for the costs of the  Company's  in-house  counsel),  administrative  fees,
     arbitrator's  fees and court costs,  all as determined  by the  arbitrator.
     Absent such award of the arbitrator, each party shall pay an equal share of
     the arbitrator's  fees. All statutes of limitation which would otherwise be
     applicable shall apply to any arbitration  proceeding under this paragraph.
     The  provisions of this  paragraph are intended by Optionee and the Company
     to be exclusive  for all purposes  and  applicable  to any and all disputes
     arising out of or  relating  to this  Agreement  and the  Certificate.  The
     arbitrator  who hears and decides any dispute shall have  jurisdiction  and
     authority  only to award  compensatory  damages  to make  whole a person or
     entity  sustaining   foreseeable  economic  damages,  and  shall  not  have
     jurisdiction  and authority to make any other award of any type,  including
     without  limitation,  punitive  damages,  unforeseeable  economic  damages,
     damages for pain,  suffering  or emotional  distress,  or any other kind or
     form of damages. The remedy, if any, awarded by the arbitrator shall be the
     sole and exclusive  remedy for any dispute which is subject to  arbitration
     under this paragraph.

15.  SUCCESSORS.  This  Agreement  shall be binding  upon and shall inure to the
     benefit  of the  parties  hereto  and their  respective  heirs,  executors,
     administrators,   successors  and  assigns.   Where  the  context  permits,
     "Optionee" as used in this Agreement shall include Optionee's transferee or
     executor,  administrator  or other  legal  representative  or the person or
     persons to whom  Optionee's  rights pass by will or the applicable  laws of
     descent and  distribution.  Nothing contained in the Plan or this Agreement
     shall be  interpreted  as  imposing  any  liability  on the  Company or the
     Committee in favor of any Optionee or transferee of options with respect to
     any loss,  cost or expense which such  Optionee or transferee  may incur in
     connection  with, or arising out of any  transaction  involving any options
     granted hereunder.

16.  INTEGRATION.  The terms of the Plan, this Agreement and the Certificate are
     intended by the Company and  Optionee to be the final  expression  of their
     contract with respect to the options and other amounts  received  hereunder
     and may not be  contradicted  by evidence  of any prior or  contemporaneous
     agreement.  The Company and  Optionee  further  intend that the Plan,  this
     Agreement and the Certificate  shall  constitute the complete and exclusive
     statement of their terms and that no extrinsic  evidence  whatsoever may be
     introduced  in any  arbitration,  judicial,  administrative  or other legal
     proceeding   involving  the  Plan,  this  Agreement  or  the   Certificate.
     Accordingly,  the Plan,  this  Agreement  and the  Certificate  contain the
     entire  understanding  between the parties  and  supersede  all prior oral,
     written and implied agreements,  understandings,  commitments and practices
     among the parties. In the event of any conflict among the provisions of the
     Plan document, this Agreement and the Certificate,  the Plan document shall
     prevail.  The  Company  and  Optionee  shall  have the right to amend  this
     Agreement in writing as they mutually agree.

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<PAGE>

17.  WAIVERS.  Any failure to enforce any terms or conditions of the Plan,  this
     Agreement or the Certificate by the Company or Optionee shall not be deemed
     a waiver of that term or condition,  nor shall any waiver or relinquishment
     of any  right or power  at any one  time or  times  be  deemed a waiver  or
     relinquishment of that right or power for all or any other times.

18.  SEVERABILITY OF PROVISIONS. If any provision of the Plan, this Agreement or
     the Certificate shall be held invalid or unenforceable,  such invalidity or
     unenforceability  shall not affect  any other  provision  thereof;  and the
     Plan, this Agreement and the Certificate shall be construed and enforced as
     if none of them included such provision.

19.  CALIFORNIA  LAW. The Plan,  this  Agreement  and the  Certificate  shall be
     construed and enforced  according to the laws of the State of California to
     the extent  not  preempted  by the  federal  laws of the  United  States of
     America.  In the event of any  arbitration  proceedings,  actions at law or
     suits in equity in relation to the Plan, this Agreement or the Certificate,
     the prevailing party in such proceeding,  action or suit shall receive from
     the losing  party its  attorneys'  fees and all other costs and expenses of
     such proceeding, action or suit.

By accepting the Option Grant on the Smith Barney Stock Plan  Services  website,
the  Participant  accepts  the  terms  of the  Management  Stock  Plan  and this
Non-Qualified  Stock Option Agreement.  The Participant also hereby acknowledges
receipt of a copy of the  Prospectus and the Year 2000  UnionBanCal  Corporation
Management Stock Plan, effective January 1, 2000.

                             UNIONBANCAL CORPORATION

                    By          /S/ PAUL FEARER
                      --------------------------------------
                       Paul Fearer, Executive Vice President

                                       8Exhibit 10.4

                        YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

This Agreement is made as of the Grant Date,  (the "Grant Date") as set forth on
the Certificate of Stock Option Grant available from the Smith Barney Stock Plan
Services website  (WWW.ASTSTOCKPLAN.COM) (the "Certificate") between UnionBanCal
Corporation (the "Company") and the Optionee.

                                   WITNESSETH:

WHEREAS,  the  Company  has  adopted  the  Year  2000  UnionBanCal   Corporation
Management  Stock  Plan (the  "Plan") as an  amendment  and  restatement  of the
predecessor  UnionBanCal  Corporation  Management  Stock  Plan  authorizing  the
issuance of options to purchase  the common  stock of the Company  ("Stock")  to
eligible  individuals  in connection  with the  performance  of services for the
Company and its  Subsidiaries (as defined in the Plan). The Plan is administered
by the  Executive  Compensation  and  Benefits  Committee  ("Committee")  of the
Company's  Board of Directors and is incorporated in this Agreement by reference
and made a part of it; and

WHEREAS,  the Company regards Optionee as a valuable contributor to the Company,
and has determined that it would be to the advantage and interest of the Company
and its  shareholders  to grant the options  provided  for in this  Agreement to
Optionee  as an  inducement  to remain in the  service of the  Company and as an
incentive for increased efforts during such service;

NOW,  THEREFORE,  in  consideration  of the foregoing  premises,  and the mutual
covenants  herein  contained,  the  parties to this  Agreement  hereby  agree as
follows:

1.   (a)  OPTION  GRANT.  The Company  hereby  grants to Optionee  the right and
          option to  purchase  from the  Company  on the  terms  and  conditions
          hereinafter set forth and in the applicable  Certificate and the Plan,
          all or any part of an aggregate number of Shares of Stock shown on the
          Certificate.  This option is not intended to satisfy the  requirements
          of Section 422 of the Internal  Revenue Code of 1986,  as amended (the
          "Code").

     (b)  OPTION PRICE.  The purchase  price of the Stock subject to this option
          shall be the  Option  Price per  share,  as shown on the  Certificate,
          which  price  is not less  than the per  share  Fair  Market  Value as
          defined  in the Plan of such  Stock  as of the  Grant  Date.  The term
          "Option Price" as used in this Agreement  refers to the purchase price
          of the Stock subject to option.

2.   OPTION  PERIOD.  This  option  will be  exercisable  only during the Option
     Period,  and during such Option Period,  the  exercisability  of the option
     shall  be  subject  to the  limitations  of  paragraph  3 and  the  vesting
     provisions  of paragraph 4. The Option  Period shall  commence on the Grant
     Date and except as provided in paragraph 3, shall end on the Terminal  Date
     which shall be seven years from the Grant Date.

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<PAGE>

                        YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

3.   LIMITS ON OPTION  PERIOD.  The Option  Period  may end before the  Terminal
     Date, as follows:

     (a)  If Optionee ceases to be a bona fide employee of the Company or any of
          its Subsidiaries for any reason other than cause, retirement, death or
          disability  (as each is defined  in this  section 3) during the Option
          Period,  the Option Period shall  terminate three (3) months after the
          date  of  such  cessation  of  employment  or on  the  Terminal  Date,
          whichever shall first occur, and Optionee may exercise the option only
          to the extent  exercisable under paragraph 4 on the date of Optionee's
          cessation  of  employment.   Notwithstanding  the  foregoing,  if  the
          Optionee's  employment  is  terminated  under  the  provisions  of the
          Company's  Separation  Pay Plan, the Option Period shall end three (3)
          years after such termination or on the Terminal Date,  whichever shall
          first occur,  and during such  extended  Option  Period,  Optionee may
          exercise  the  entire  unexercised  portion of the  option,  provided,
          however, that this sentence shall not apply to the option if the Grant
          Date is less than six (6) months prior to the date of such termination
          of employment.

     (b)  If  Optionee's  employment  terminates  by reason of  retirement,  the
          Option Period shall end three (3) years after such  termination  or on
          the  Terminal  Date,  whichever  shall first  occur,  and Optionee may
          exercise the entire unexercised  portion of this option (or any lesser
          amount).  For this purpose,  "retire" means  termination of employment
          with the Company or its  Subsidiaries  after  attaining age sixty (60)
          with ten (10)  years of service  or age  sixty-two  (62) with five (5)
          years of service with the Company or any of its  Subsidiaries.

     (c)  If Optionee's  employment  terminates by reason of death,  or Optionee
          becomes entitled to long-term disability benefits under the Union Bank
          of  California  Long Term  Disability  Plan while in the employ of the
          Company or its Subsidiary,  the Option Period shall end one year after
          such event or on the Terminal Date,  whichever shall first occur,  and
          Optionee (or Optionee's executor, administrator, trustee or the person
          or persons to whom  Optionee's  rights under this option shall pass by
          will or the applicable laws of descent and  distribution) may exercise
          the entire unexercised  portion of this option (or any lesser amount).

     (d)  If Optionee is on a leave of absence  from the Company or a Subsidiary
          because of disability, or for the purpose of serving the government of
          the country in which the principal  place of employment of Optionee is
          located,  either in a military or civilian capacity, or for such other
          purpose or reason as the Committee may approve,  Optionee shall not be
          deemed  during the period of such  absence,  by virtue of such absence
          alone, to have terminated  employment with the Company or a Subsidiary
          except as the Committee may otherwise expressly provide.

<PAGE>

                                       2

                        YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

     (e)  If Optionee's  employment with the Company or a Subsidiary  terminates
          for cause during the Option Period,  the Option Period shall terminate
          on the date of such termination of employment and shall not thereafter
          be  exercisable  to  any  extent.   Optionee's   employment  shall  be
          terminated  "for cause" if it is because of:

               (i)  theft or  embezzlement by Optionee from, or common law fraud
                    committed   by   Optionee   against,   the  Company  or  its
                    Subsidiaries;

               (ii) conviction   of  Optionee  of  a  felony   involving   moral
                    turpitude;

               (iii)material  breach by Optionee of any obligation he or she may
                    have as an employee  of the  Company  (or its  Subsidiaries)
                    with   respect   to   confidential    information,    unfair
                    competition, or the ownership of intellectual property; or

               (iv) material  breach by Optionee of any other  obligation  he or
                    she  may  have  as  an   employee  of  the  Company  or  its
                    Subsidiaries.

4.   VESTING OF RIGHT TO  EXERCISE  OPTIONS.  The shares  covered by this option
     shall vest  thirty-three and one-third  percent  (33-1/3%) on each one year
     anniversary  of the Grant Date such that all of the  shares  shall be fully
     vested after three (3) years from the Grant Date. Any portion of the option
     that is not  exercised  shall  accumulate  and may be exercised at any time
     during the Option Period prior to the Terminal Date. No partial exercise of
     this  option  may be for less  than 5 percent  (5%) of the total  number of
     shares then available  under this option.  In no event shall the Company be
     required to issue fractional shares.

5.   METHOD OF EXERCISE. Optionee may exercise the option with respect to all or
     any part of the shares of Stock then subject to such exercise as follows:

     (a)  By giving the Company or its designated  representative written notice
          of such  exercise,  specifying  the number of such  shares as to which
          this option is  exercised.  Such  notice  shall be  accompanied  by an
          amount equal to the Option  Price of such shares,  in the form of: (i)
          cash; a certified  check,  bank draft,  postal or express  money order
          payable  to the order of the  Company  in lawful  money of the  United
          States; (ii) by delivery (on a form prescribed by the Committee) of an
          irrevocable direction to a securities broker approved by the Committee
          to sell  shares and  deliver  all or a portion of the  proceeds to the
          Company in payment for the Common Stock;  (iii) Common Stock;  or (iv)
          in any combination of the foregoing.

     (b)  In the  event  that the  shares  are  subject  to any  obligations  or
          restrictions,  the Optionee (and Optionee's  spouse,  if any) shall be
          required, as a condition precedent to acquiring Stock through exercise
          of  the  option,  to  execute  one  or  more  agreements  relating  to
          obligations in connection  with ownership of the

                                       3
<PAGE>

                        YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

          Stock or  restrictions  on transfer  of the Stock no less  restrictive
          than the obligations and restrictions to which the other  shareholders
          of the Company are subject at the time of such exercise.

     (c)  If  required  by  the  Company,   Optionee   shall  give  the  Company
          satisfactory assurance in writing, signed by the Optionee or his legal
          representative,  as the  case  may be,  that  such  shares  are  being
          purchased  for  investment  and not  with a view  to the  distribution
          thereof,  provided that such assurance shall be deemed inapplicable to
          (i) any sale of such shares by such Optionee  made in accordance  with
          the terms of a registration  statement  covering such sale,  which may
          hereafter be filed and become  effective  under the  Securities Act of
          1933, as amended,  and with respect to which no stop order  suspending
          the effectiveness  thereof has been issued, and (ii) any other sale of
          such shares with  respect to which,  in the opinion of counsel for the
          Company, such assurance is not required to be given in order to comply
          with the provisions of the Securities Act of 1933, as amended.

          As soon  as  practicable  after  receipt  of the  notice  required  in
          paragraph  5(a)  and  satisfaction  of the  conditions  set  forth  in
          paragraphs 5(b) and 5(c), if applicable, the Company or its designated
          representative  shall, without transfer or issue tax and without other
          incidental  expense to Optionee,  deliver to Optionee at the office of
          the Company,  at 400 California  Street,  San  Francisco,  California,
          attention  of the  Secretary,  or such other  place as may be mutually
          acceptable to the Company and Optionee,  a certificate or certificates
          of such  shares of  Stock;  provided,  however,  that the time of such
          delivery  may be  postponed  by the  Company for such period as may be
          required for it with  reasonable  diligence to comply with  applicable
          registration  requirements  under  the  Securities  Act  of  1933,  as
          amended,  the  Securities  Exchange  Act  of  1934,  as  amended,  any
          applicable listing  requirements of any national securities  exchange,
          and requirements  under any other law or regulation  applicable to the
          issuance or transfer of such shares.

6.   WITHHOLDING OF TAXES. Optionee agrees to make appropriate arrangements with
     the Company (or Subsidiary that employs the  participant) or its designated
     representative for satisfaction of any applicable  federal,  state or local
     income and employment tax  withholding  requirements.  This may include the
     withholding of shares of Stock from the exercise of the option  pursuant to
     such  rules and  procedures  as the  Committee  may  establish.  Any shares
     withheld to satisfy such  withholding  requirements  shall not be available
     for subsequent grants under the Plan.

7.   CORPORATE  TRANSACTIONS.  (a) If there  should be any  change in a class of
     Stock   subject   to   this   option,   through   merger,    consolidation,
     reorganization,  recapitalization,   reincorporation,  stock  split,  stock
     dividend  (in  excess  of 2  percent)  or  other  change  in the  corporate
     structure  of  the  Company,   the  Board  and  the  Committee  shall  make
     appropriate  adjustments  in order to preserve,  but not to  increase,  the
     benefit to Optionee,  including adjustments in the number of shares of such
     Stock  subject  to this  option  and in the price per

                                       4
<PAGE>

                        YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

     share.  (b) Upon the  consummation  of a "Change of Control" (as defined in
     this  paragraph  7(b)),  this option shall vest and/or  become  immediately
     exercisable,  without regard to the vesting  provisions of paragraph 4. For
     the  purposes  of  this  paragraph   7(b),   "Change  of  Control"   means:
     consummation of a reorganization,  merger or consolidation or sale or other
     disposition of the stock or all or  substantially  all of the assets of the
     Company  or the  acquisition  of the  assets  or  stock of  another  entity
     ("Business Combination");  excluding,  however, such a Business Combination
     pursuant to which a Permitted  Holder (as defined in this  paragraph  7(b))
     will   beneficially   own,   directly  or  indirectly,   30%  or  more  of,
     respectively,  the  outstanding  shares of common  stock,  and the combined
     voting power of the then  outstanding  voting  securities  entitled to vote
     generally in the election of directors (together,  the "Company Stock"), as
     the  case  may  be,  of  the  corporation   resulting  from  such  Business
     Combination (including, without limitation, a corporation which as a result
     of such  transaction  owns the Company or all or  substantially  all of the
     Company's assets either directly or through one or more subsidiaries),  and
     no individual,  entity or group (within the meaning of Section 13(d) (3) or
     14(d)(2) of the Securities Exchange Act of 1934, as amended), has a greater
     beneficial  interest,  directly or indirectly,  in the Company Stock than a
     Permitted Holder. For purposes of this definition, "Permitted Holder" shall
     mean  (i) The  Bank of  Tokyo-Mitsubishi,  Ltd.  or any  successor  thereto
     ("BTM"),  (ii)  an  employee  benefit  plan of BTM or  (iii) a  corporation
     controlled by BTM.

8.   LIMITATIONS ON TRANSFER.  In general,  this option shall, during Optionee's
     lifetime, be exercisable only by Optionee,  and neither this option nor any
     right  hereunder  shall be  transferable  by Optionee except as provided by
     law, or with the consent of the Company,  or by will or the laws of descent
     and distribution;  provided, however, that the option may be transferred to
     a trust established by the Optionee for the primary benefit of the Optionee
     and  Optionee's  spouse,  if married,  provided that the trust is revocable
     during the  lifetime of the  Optionee and that the trustee on behalf of the
     trust  agrees in  writing to be bound by the terms and  conditions  of this
     Agreement.  In the  event of any  attempt  by  Optionee  or the  Optionee's
     transferee to gift, transfer,  alienate,  assign, pledge,  hypothecate,  or
     otherwise  dispose  of this  option  or of any right  hereunder,  except as
     provided  for in  this  Agreement,  or in the  event  of  the  levy  of any
     attachment,  execution,  or similar  process  upon the  rights or  interest
     hereby conferred,  the Company at its election may terminate this option by
     notice to Optionee and this option shall thereupon become null and void.

9.   NO SHAREHOLDER RIGHTS. Neither Optionee nor any person entitled to exercise
     Optionee's rights in the event of his death shall have any of the rights of
     a  shareholder  with respect to the shares of Stock  subject to this option
     except to the  extent  the  certificates  for such  shares  shall have been
     issued upon the exercise of this option.

10.  NO EFFECT ON TERMS OF EMPLOYMENT.  Nothing in this  Agreement  shall affect
     the  right  of the  Company  (or  Subsidiary  which  employs  Optionee)  to
     terminate or change the terms of employment of Optionee at any time and for
     any reason, with or without cause.

                                       5
<PAGE>

                        YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

11.  NO EFFECT ON OTHER PLANS. In the year in which Optionee exercises an option
     or disposes of his or her  interest  in shares of Stock  acquired  under an
     option,  benefits  received under this Plan shall not affect  participation
     in, or the computation of benefits under any other employee benefit plan of
     the Company or its  Subsidiaries.  For  purposes of any bonus or  incentive
     program for which the Optionee is eligible and for purposes of any employee
     benefit plans, to the extent  permitted by applicable laws and by pertinent
     provisions of such plans, the Company or its  Subsidiaries  shall disregard
     any options,  shares of Stock and any other  benefits  received by Optionee
     under this Plan.

12.  NOTICE.  Any notice or other paper required to be given or sent pursuant to
     the terms of this Agreement shall be sufficiently given or served hereunder
     to any party when  transmitted  by  registered or certified  mail,  postage
     prepaid, addressed to the party to be served as follows:

     Company:    Executive Vice President and Director of Human Resources
                 UnionBanCal Corporation
                 400 California Street, 10th Floor
                 San Francisco, CA  94104

     Optionee:   At Optionee's address in the Company's files,  or to such other
                 address as Optionee may specify in writing to the Company.

     Plan Administrator:   Smith Barney Stock Plan Services
                           333 West 34th Street, 9th Floor
                           New York, NY 10001
                           WWW.ASTSTOCKPLAN.COM

     Any party may designate  another  address for receipt of notices so long as
     notice is given in accordance with this paragraph.

13.  COMMITTEE   DECISIONS   CONCLUSIVE.   All  decisions,   determinations  and
     interpretations  of the Committee upon any question  arising under the Plan
     or under this Agreement shall be conclusive and binding on all parties.

14.  MANDATORY  ARBITRATION.  Any  dispute  arising  out of or  relating to this
     Agreement  or the  Certificate,  including  its meaning or  interpretation,
     shall be resolved  solely by arbitration  before an arbitrator  selected in
     accordance  with the rules of the  American  Arbitration  Association.  The
     location for the arbitration shall be in San Francisco,  Los Angeles or San
     Diego as  selected  by the  Company in good  faith.  Judgment  on the award
     rendered  may be entered in any court  having  jurisdiction.  The party the
     arbitrator determines is the prevailing party shall be entitled to have the
     other party pay the expenses of the  prevailing  party,  and in this regard
     the arbitrator  shall have the power to award  recovery to such  prevailing
     party of all  costs and fees  (including  attorneys  fees and a  reasonable
     allocation

                                       6
<PAGE>

                        YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

     for the costs of the  Company's  in-house  counsel),  administrative  fees,
     arbitrator's  fees and court costs,  all as determined  by the  arbitrator.
     Absent such award of the arbitrator, each party shall pay an equal share of
     the arbitrator's  fees. All statutes of limitation which would otherwise be
     applicable shall apply to any arbitration  proceeding under this paragraph.
     The  provisions of this  paragraph are intended by Optionee and the Company
     to be exclusive  for all purposes  and  applicable  to any and all disputes
     arising out of or  relating  to this  Agreement  and the  Certificate.  The
     arbitrator  who hears and decides any dispute shall have  jurisdiction  and
     authority  only to award  compensatory  damages  to make  whole a person or
     entity  sustaining   foreseeable  economic  damages,  and  shall  not  have
     jurisdiction  and authority to make any other award of any type,  including
     without  limitation,  punitive  damages,  unforeseeable  economic  damages,
     damages for pain,  suffering  or emotional  distress,  or any other kind or
     form of damages. The remedy, if any, awarded by the arbitrator shall be the
     sole and exclusive  remedy for any dispute which is subject to  arbitration
     under this paragraph.

15.  SUCCESSORS.  This  Agreement  shall be binding  upon and shall inure to the
     benefit  of the  parties  hereto  and their  respective  heirs,  executors,
     administrators,   successors  and  assigns.   Where  the  context  permits,
     "Optionee" as used in this Agreement shall include Optionee's transferee or
     executor,  administrator  or other  legal  representative  or the person or
     persons to whom  Optionee's  rights pass by will or the applicable  laws of
     descent and  distribution.  Nothing contained in the Plan or this Agreement
     shall be  interpreted  as  imposing  any  liability  on the  Company or the
     Committee in favor of any Optionee or transferee of options with respect to
     any loss,  cost or expense which such  Optionee or transferee  may incur in
     connection  with, or arising out of any  transaction  involving any options
     granted hereunder.

16.  INTEGRATION.  The terms of the Plan, this Agreement and the Certificate are
     intended by the Company and  Optionee to be the final  expression  of their
     contract with respect to the options and other amounts  received  hereunder
     and may not be  contradicted  by evidence  of any prior or  contemporaneous
     agreement.  The Company and  Optionee  further  intend that the Plan,  this
     Agreement and the Certificate  shall  constitute the complete and exclusive
     statement of their terms and that no extrinsic  evidence  whatsoever may be
     introduced  in any  arbitration,  judicial,  administrative  or other legal
     proceeding   involving  the  Plan,  this  Agreement  or  the   Certificate.
     Accordingly,  the Plan,  this  Agreement  and the  Certificate  contain the
     entire  understanding  between the parties  and  supersede  all prior oral,
     written and implied agreements,  understandings,  commitments and practices
     among the parties. In the event of any conflict among the provisions of the
     Plan document, this Agreement and the Certificate,  the Plan document shall
     prevail.  The  Company  and  Optionee  shall  have the right to amend  this
     Agreement in writing as they mutually agree.

                                       7
<PAGE>

                        YEAR 2000 UNIONBANCAL CORPORATION
                              MANAGEMENT STOCK PLAN
                      NON-QUALIFIED STOCK OPTION AGREEMENT

17.  WAIVERS.  Any failure to enforce any terms or conditions of the Plan,  this
     Agreement or the Certificate by the Company or Optionee shall not be deemed
     a waiver of that term or condition,  nor shall any waiver or relinquishment
     of any  right or power  at any one  time or  times  be  deemed a waiver  or
     relinquishment of that right or power for all or any other times.

18.  SEVERABILITY OF PROVISIONS. If any provision of the Plan, this Agreement or
     the Certificate shall be held invalid or unenforceable,  such invalidity or
     unenforceability  shall not affect  any other  provision  thereof;  and the
     Plan, this Agreement and the Certificate shall be construed and enforced as
     if none of them included such provision.

19.  CALIFORNIA  LAW. The Plan,  this  Agreement  and the  Certificate  shall be
     construed and enforced  according to the laws of the State of California to
     the extent  not  preempted  by the  federal  laws of the  United  States of
     America.  In the event of any  arbitration  proceedings,  actions at law or
     suits in equity in relation to the Plan, this Agreement or the Certificate,
     the prevailing party in such proceeding,  action or suit shall receive from
     the losing  party its  attorneys'  fees and all other costs and expenses of
     such proceeding, action or suit.

By accepting the Option Grant on the Smith Barney Stock Plan  Services  website,
the  Participant  accepts  the  terms  of the  Management  Stock  Plan  and this
Non-Qualified  Stock Option Agreement.  The Participant also hereby acknowledges
receipt of a copy of the  Prospectus and the Year 2000  UnionBanCal  Corporation
Management Stock Plan, effective January 1, 2000.

                             UNIONBANCAL CORPORATION

                  By            /S/ PAUL FEARER
                    ----------------------------------------
                      Paul Fearer, Executive Vice President

                                       8

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