Based on the modified Sawad^Kotera equation, we introduce a 3 ~ 3 matrix spectral problem with two potentials and derive a hierarchy of new nonlinear evolution equations. The second member in the hierarchy is a generalization of the modified Sawad-Kotera equation, by which a Lax pair of the modified Sawada-Kotera equation is obtained. With the help of the Miura transformation, explicit solutions of the Sawad-Kotera equation, the Kaup-Kupershmidt equation, and the modified Sawad-Kotera equation are given. Moreover, infinite sequences of conserved quantities of the first two nonlinear evolution equations in the hierarchy and the modified Sawada-Kotera equation are constructed with the aid of their Lax pairs.
With the aid of the zero-curvature equation, a novel integrable hierarchy of nonlinear evolution equations associated with a 3 x 3 matrix spectral problem is proposed. By using the trace identity, the bi-Hamiltonian structures of the hierarchy are established with two skew-symmetric operators. Based on two linear spectral problems, we obtain the infinite many conservation laws of the first member in the hierarchy.