This excerpt taken from the PCBC 10-K filed Mar 30, 2005.
2. ESTABLISHMENT OF TRUST
2.1 Deposit. Pacific Capital hereby deposits with Trustee in trust the sum of One Dollar ($1.00), which shall become the principal of the Trust to be held, administered, and disposed of by the Trustee as provided in this Trust Agreement.
2.2 Irrevocable. The Trust hereby established shall be irrevocable by any Participating Company.
2.3 Grantor Trust. The Trust is intended to be a grantor trust, of which Pacific Capital and each Affiliate, in each instance as an Participating Company and only to the extent of contributions actually made by the Participating Company, is the grantor, within the meaning of Subpart E, Part I, Subchapter J, Chapter 1, Subtitle A of the Internal Revenue Code of 1986, as amended, and shall be construed accordingly.