PACIFIC CAPITAL BANCORP VOLUNTARY EMPLOYEES’ BENEFICIARY ASSOCIATION AMENDMENT NUMBER ONE
Exhibit 10.2.1
1998 AMENDED AND RESTATED TRUST AGREEMENT OF
PACIFIC CAPITAL BANCORP
VOLUNTARY EMPLOYEES’ BENEFICIARY ASSOCIATION
AMENDMENT NUMBER ONE
WHEREAS, Pacific Capital Bancorp (the “Company”) and Santa Xxxxxxx Bank & Trust (the “Trustee”) entered into the 1998 Amended and Restated Trust Agreement of Pacific Capital Bancorp Voluntary Employees’ Beneficiary Association (the “Agreement”) which confirmed the establishment of the Pacific Capital Bancorp Voluntary Employees’ Beneficiary Association (the “Trust”), the Company’s status as sponsor of the Trust, and Santa Xxxxxxx Bank & Trust’s status as trustee to the Trust;
WHEREAS, Section 7 of the Agreement provides for the amendment of the Agreement at any time, in whole or in part, by a written instrument executed by the Company and Trustee;
WHEREAS, the Company and Trustee desire to amend the Agreement to allow the Trust to provide benefits to eligible employees of the Company and their dependents through health and/or welfare benefit plans sponsored by the Company in addition to the retiree health plan that the Trust currently funds;
NOW THEREFORE, the parties do hereby agree that the Agreement is amended as follows:
1. | Section 1.2 of the Agreement is amended in its entirety to read as follows: |
2. | Section 2.13 of the Agreement is amended in its entirety to read as follows: |
Section 2.13 “Plan” means the employee welfare benefit plan and/or plans sponsored by the Employer for the benefit of Employees, retirees and/or their respective dependents and beneficiaries which have been designated by the Company for funding by the Trust, and includes, but is not limited to, the Pacific Capital Bancorp Retiree Health Plan for Non-Key Employees, as amended.
3. | Section 2.14 of the Agreement is amended in its entirety to read as follows: |
Section 2.14 “Plan Administrator” means Pacific Capital Bancorp or other entity or person designated in the applicable plan document of the Plan.
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4. | Section 2.15 of the Agreement is amended in its entirety to read as follows: |
Section 2.15 “Plan Year” shall have the same meaning ascribed to such term in the applicable plan document for the Plan (including, but not limited to, summary plan description, evidence of coverage, certificate of coverage, or other summary of benefits).
5. | Section 5.4 of the Agreement is amended in its entirety to read as follows: |
6. | Section 8.2 of the Agreement is amended in its entirety to read as follows: |
IN WITNESS WHEREOF, the parties hereto have executed this Agreement, effective as of April 29, 2010.
PACIFIC CAPITAL BANCORP, a California Corporation |
SANTA XXXXXXX BANK & TRUST, a California corporation (TRUSTEE) | |||||||
By: | /s/ Xxxx Xxxxxx |
By: | /s/ Xxxxxxx Xxxxxxxx | |||||
Xxxx Xxxxxx | Xxxxxxx Xxxxxxxx | |||||||
Its: | EVP, Chief People Officer |
Its: | Vice President and Employee Trust Officer |
Amendment #1 | Page 2 of 2 |