Exhibit 10.3
PACIFIC CAPITAL
BANCORP
STOCK OPTION
AGREEMENT
This confirms the
grant by Pacific Capital Bancorp (the “Company”) of a
stock option to the Employee identified herein
(“Employee”) on the terms and conditions set forth
below and of the 2002 Stock Plan, effective January 22, 2002
and amended July 21, 2004, September 19, 2005, and
December 12, 2006 (the “Plan”), the terms of which
are incorporated herein.
1. Grant
Date .
2. Number of
Options . The number of options is specified on the
Grant Summary section of the website.
3. Exercise
Price . The Exercise Price is the closing price of
Company stock on the Grant Date and is specified on the Grant
Summary section of this website.
4. Type of
Option . For tax purposes, the Option is a
Non-Qualified Stock Option.
5. 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 on the 10-year
anniversary of the grant date. The specific termination
date is specified on the Grant Summary section of this
website.
6.
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
