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
PAGE 2 DIRECTORS’ DEFERRED COMPENSATION PLAN (INTERIM)
1. P URPOSE . 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. E FFECTIVE D ATE . This interim plan document will be effective January 1, 2005, with respect to amounts deferred after
December 31, 2004.
3. G ENERAL T ERMS AND C ONDITIONS . 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. M ODIFICATION OF D EFERRAL E LECTIONS . 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. T IME FOR P AYMENT . A Participant may elect, on an enrollment form, either a specific date or a fixed sc