Pacific Capital Bancorp
Restricted Reload Stock Option Agreement
This confirms the grant by Pacific Capital Bancorp (the “Company”) of a reload stock option to the Employee identified
below (“Employee”) on the terms and conditions set forth below and of the Restricted Stock Option Plan (the “Plan”), the terms
of which are incorporated herein.
5. Reload Option . The Option is a Reload Option granted under Section 6.7 of the Plan. For tax purposes, the Option is of the
type indicated below:
6. Restrictions on Reload Option . Employee acknowledges that the Option is subject to the restrictions set forth in Section 6.7
of the Plan, including the restriction that the Option shall immediately terminate if the shares of Common Stock acquired on
exercise of the Original Option are sold within one (1) year after the date of exercise of the Original Option.
7. Term of Option . The term of the Option will begin as of the date of grant set forth above and, unless sooner terminated in
accordance with the terms of the Plan, will expire five (5) years after the date of grant.
8. Expiration . The Option is subject to termination prior to the expiration of the term of the Option set forth above in the event
of the termination of Employee’s employment with the Company or any of its subsidiaries or the occurrence of certain other
events specified in the Plan.
9. Exercise . Except as otherwise specifically provided in the Plan, the Option may not be exercised in whole or in part prior to the
expiration of one (1) year after the date of grant of the Option. Thereafter the Option may be exercised in whole or in part at any
time and from time to time during the term of the Option.
10. Restriction on Transfer of Option . Except as otherwise specifically permitted in the Plan, Employee may not transfer all or
any portion of his/her interest in the Option other than by will or the laws of descent and distribution.
11. No Competition . Employee