OPTION AGREEMENT FOR NONQUALIFIED STOCK OPTION
This Option Agreement evidences the grant of a Nonqualified Stock Option (the "Option") to Participant under the West
Coast Bancorp 2002 Stock Incentive Plan (the "Plan").
Capitalized terms used below but not defined in the Notice of Grant of Stock Options (the "Notice") are defined in the Plan.
1. Option Vesting and Exercise
The Option is on terms set forth in the Notice and is subject to all applicable provisions of the Plan and to the following
terms and conditions:
For purposes of this Option, pursuant to authority granted under the Plan and notwithstanding Section 1(x) of the Plan,
“Retirement” means retirement from active employment with the Company, a Subsidiary or Affiliate at a time when (a) the
Participant is age 62 or older, and (b) the sum of Participant’s age plus Participant’s years of employment service with the
Company, or a Subsidiary or Affiliate, is equal to or greater than 70.
1.1 Nonqualified Stock Option . The Option is not intended to qualify as an incentive stock option meeting the
requirements of Internal Revenue Code § 422.
Exercisability . The Option shall become vested and exercisable, unless the Option is earlier terminated or canceled or
the exercisability of the Option is accelerated in accordance with this Agreement or the Plan, in accordance with the
vesting schedule set forth in the Notice.
Exercise of an Option .
Notice of Exercise . The Option, or any portion thereof, may be exercised, to the extent it has become
exercisable pursuant to this Agreement, by delivery of written notice to the Company stating the number of
Shares being purchased.
Payment . The Exercise Price for the Shares purchased upon exercise of the Option must be paid in full at the
time of exercise by one or a combination of the following:
(a) Payment in cash or certified che