Exhibit 10.1.11
PACIFIC CAPITAL BANCORP
1994 STOCK OPTION PLAN
PACIFIC CAPITAL BANCORP
1994 STOCK OPTION PLAN
INDEX
PACIFIC CAPITAL BANCORP
ARTICLE NO
DESCRIPTION
COMMENCING
ON PAGE
1.
PURPOSE
1
2. ADMINISTRATION
1
3.
PARTICIPANTS
3
4.
THE SHARES
3
5. GRANTS, TERMS AND CONDITIONS OF OPTIONS
4
6. ADJUSTMENT OF AND CHANGES IN THE SHARES
11
7.
LISTING OR QUALIFICATION OF SHARES
13
8. AMENDMENT AND TERMINATION OF THE PLAN
13
9. BINDING EFFECT OF CONDITIONS
14
10.
EFFECTIVENESS OF THE PLAN
15
11.
PRIVILEGES OF STOCK OWNERSHIP; SECURITIES LAW COMPLIANCE
15
12.
INDEMNIFICATION
15
13.
INFORMATION TO OPTIONEES
16
14. RESOLUTION DATED MAY 28, 1997
1994 STOCK OPTION PLAN
000
1. PURPOSE
The purpose of this 1994 Stock Option Plan (the ‘Plan”) of Pacific Capital Bancorp and its Affiliates (hereinafter
collectively referred to as the ‘Company”), is to secure for the Company and its stockholders the benefits of the incentive
inherent in the ownership of Common Stock of Pacific Capital Bancorp by those key, full-time employees and officers of the
Company who will share responsibility with management of the Company for its future growth and success. Options may also
be granted to non-employee directors of the Company.
The word “Affiliate”, as used in this Plan, means any bank or corporation in an unbroken chain of banks or corporations
beginning or ending with the Company, if at the time of the granting of an option, each such bank or corporation other than the
last in that chain own stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in
one or the other banks or corporations in the chain.
2. ADMINISTRATION
The following provisions shall govern the administration of the Plan:
a) The Plan shall be administered by a committee of the Board of Directors duly appointed by the