Document:

EX-10.4

 Exhibit 10.4 

EXECUTIVE EMPLOYMENT AGREEMENT 

(TIER II) 
 This Executive
Employment Agreement (this “Agreement”) is by and between Spirit of Texas Bancshares, Inc., a Texas corporation (the “Company”), and Jeffrey A. Powell, an individual (referred to herein as
“Executive” or “you”), and shall be effective as of July 10, 2017 (the “Effective Date”). 

Preliminary Statements 

Executive desires to be employed by the Company upon the terms and conditions stated herein, and the Company desires to employ Executive
provided that, in so doing, it can protect its confidential information, business, accounts, patronage and goodwill. 
 Executive and the
Company have specifically determined that the terms of this Agreement are fair and reasonable. 
 Agreement 

NOW, THEREFORE, in consideration of the mutual agreements and covenants contained in this Agreement, the Company and you agree as follows:

 1. EMPLOYMENT. On the terms and subject to the conditions in this Agreement, the Company hereby employs you and engages your
services to serve as Executive Vice President/Chief Financial Officer of the Company. You hereby accept employment with the Company according to the terms set forth in this Agreement. 

2. DUTIES. You are hereby employed and shall work at the location (or locations) of the Company as may be directed by the Chief
Executive Officer of the Company (the “Chief Executive Officer”) (subject to your rights under Section 6.4). You shall have the position (including status, offices and reporting requirements), authority,
duties and responsibilities usually associated with your position in a financial services company having assets similar in value and nature to the assets of the Company. Additionally, while employed by the Company, you shall: 

(i) perform the duties required of you hereunder and shall devote your best efforts and exclusive business time, energy and skill to
performing such duties; 
 (ii) report to, and your authority and responsibilities will be subject to the supervision of the Chief Executive
Officer; 
 (iii) not make any disparaging remarks regarding the Company to any person with whom the Company has business relations,
including any employee or vendor of the Company; 
 (iv) use the Confidential Information (as defined in
Section 9.1) and the Goodwill (as defined in Section 9.2) between the Company and its customers and vendors solely for the benefit of the Company; 

 (v) not interfere in such Goodwill, either during or following your employment with the
Company; 
 (vi) shall not take any action for the benefit of any competitor of the Company or any other Entity (as defined in
Section 9.4(ii)), other than the Company, engaged in business similar to that engaged in by the Company; and 

(vii) shall not recruit or otherwise facilitate the hiring of any Company employee by any Entity, other than the Company and its affiliates.

 3. COMPENSATION AND BENEFITS. Your compensation and other benefits shall include, in addition to any further benefits and
compensation as later approved by the Board, the following: 
 3.1. Base Salary. You will be paid an annual salary of
$240,000.00, subject to annual increases as determined by the Compensation Committee and/or the Chairman/CEO of the Company and approved by the Board of the Company. Your annual salary shall be payable in accordance with the Company’s
customary policies, subject to payroll and withholding deductions as may be required by law. In addition, you will receive a signing bonus of $10,000.00 to be paid immediately on the next regularly scheduled pay date after you start
employment and an additional $10,000.00 after the first six months of satisfactory employment. In the event that you leave the Company within 6 months of your date of hire, you will be responsible for reimbursing the Company on a pro-rata basis for any months not worked. 
 3.2. Annual Incentive Program. You shall participate
in an equitable manner with all other senior management employees in the annual discretionary incentive program approved by the Board or the Compensation Committee. No other compensation provided for in this Agreement shall be deemed a substitute
for your right to participate in such annual incentive program. 
 3.3. Long Term Incentive Program. You will be entitled to
participate in the Company’s long term discretionary incentive program as approved by the Board or the Compensation Committee. 
 3.4.
Expenses. You shall be reimbursed for any and all reasonable expenses incurred by you in the performance of your duties and services as specified in this Agreement or incurred by you on behalf of, or in furtherance of the business of, the
Company, including, but not limited to, business expenses incurred in connection with travel and entertainment, provided that you shall submit to the Company satisfactory supporting receipts and other information with respect to reimbursable costs
and expenses. 
 3.5. Other Benefits. During your term of employment, you shall be entitled to participate in any benefit plan or
arrangement that the Company or its subsidiaries now or hereafter maintains that relates to (i) pension, profit sharing or other retirement benefits, (ii) medical insurance or reimbursement of medical or dependent care expenses, or
(iii) other group benefits, including disability and other life insurance plans, in the same manner as other senior management employees of the Company. You may also be reimbursed for expenses incurred in connection with your club dues at a
club approved by the Board. In addition, you will be provided with (i) the use of an automobile and reimbursed for all costs and expenses related to operating the vehicle or (ii) an annual vehicle allowance in an amount up to $1000.00 per month
as approved by the Board or Compensation Committee. 

  
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 4. TERM. This Agreement shall have an initial term beginning on July 10, 2017,
and shall expire on the first anniversary of such date; provided, however, that the term shall be automatically extended for successive periods of one (1) year on a continuing basis unless either you or the Company shall give written notice of
intention not to so extend at least ninety (90) days prior to the end of the initial one (1) year period or any renewal period (the “Term”). 

5. CHANGE IN CONTROL. For purposes of this Agreement, “Change in Control” of the Company means the occurrence of any
of the following events: (i) any merger, consolidation or other reorganization whereby the Company’s equity holders existing immediately prior to such merger, consolidation or reorganization do not, immediately after consummation of such
merger, consolidation or reorganization, beneficially own (within the meaning of Rule 13d-3 promulgated under the Securities Exchange Act of 1934 (as amended, the “Exchange Act”)) more than
50% of the combined voting power of the surviving entity’s then outstanding voting securities; (ii) the Bank is merged or consolidated into, or otherwise acquired by, an entity other than a wholly-owned subsidiary of the Company;
(iii) the Company sells, leases or exchanges all or substantially all of its assets to any other person or entity in which the Company, any subsidiary of the Company, or the Company’s equity holders existing immediately prior to such sale,
lease or exchange beneficially own less than 50% of the combined voting power of such acquiring entity’s then outstanding voting securities; (iv) the Company is dissolved and liquidated; (v) any person or entity, including a
“group” as contemplated by Section 13(d)(3) of the Exchange Act, acquires or gains beneficial ownership of more than 50% of the combined voting power of the Company’s then outstanding voting securities; or (vi) any change in
the identity of directors constituting a majority of the Board within a twenty-four month period unless the change was approved by a majority of the Incumbent Directors, where “Incumbent Director” means a member of the Board at the
beginning of the period in question, including any director who was not a member of the Board at the beginning of such period but was elected or nominated to the Board by, or on the recommendation of or with the approval of, at least two-thirds of the directors who then qualified as Incumbent Directors. 
 6. TERMINATION OF
EMPLOYMENT. 
 6.1. Death. Your employment under this Agreement shall terminate upon your death during the term of this
Agreement. 
 6.2. Disability. If, as a result of your incapacity due to physical or mental illness, you (i) are unable to
engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or
(ii) are, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement
benefits for a period of not less than three (3) months under a disability plan of the Company, and within thirty (30) days after written notice of termination is given you shall not have returned to the performance of your essential
duties, with or without an accommodation, the Company may terminate your employment for “Disability.” 

  
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 6.3. Cause. The Company may terminate your employment for Cause as provided below.
Termination of your employment by the Company for “Cause” shall mean termination upon (A) your breach of this Agreement, (B) your failure to satisfactorily perform your duties under this Agreement, to follow the direction
(consistent with your duties) of the Board or any other individual to whom you report, or to follow the procedures, policies and rules of the Company, (C) any willful act or omission by you that is, or is likely to be, injurious to the Company
or the business reputation of the Company, (D) your dishonesty, fraud, malfeasance, negligence or misconduct, including the delay of information delivered to the Board or any other individual to whom you report, the incompleteness of reporting
to the Board or any other individual to whom you report, or any effort to mislead or improperly influence the Board or any other individual to whom you report, (E) your arrest, indictment for, or conviction of, or your entry of a plea of guilty
or no contest to, a felony or a crime involving moral turpitude, or (F) your resignation or failure to perform services under this Agreement. For a termination of employment to constitute “Cause” under
Section 6.3(A) through (D), the Company must provide you with written notice of the event or condition constituting Cause, and you shall have the right to cure the event or condition, if curable, within thirty
(30) days of receipt of the notice. 
 6.4. Good Reason. You may terminate your employment for Good Reason as provided below.
“Good Reason” for you to terminate your employment shall exist if, at any time during the term of this Agreement, any of the following events shall occur: 

(i) Any material diminution in your authority, duties or responsibilities; 

(ii) A change in your business location of more than thirty (30) miles; 

(iii) A diminution by the Company in your (a) base salary; or (b) prior to and in connection with a Change in Control or within two
years after a Change in Control, a reduction in the target annual bonus amount under any annual incentive plan in a manner inconsistent with other senior management employees; or 

(iv) Any action or inaction that constitutes a material breach of this Agreement by the Company, including but not limited to as provided in
Section 14(i). 
 For a termination of employment to constitute “Good Reason”, you must provide the
Company with notice of the event or condition constituting Good Reason within ninety (90) days of the occurrence of the event or condition, and the Company shall have the right to cure the event or condition with thirty (30) days of the
receipt of such notice. 
 6.5. Voluntary Resignation. You may voluntarily resign from employment for other than Good Reason by
giving the Company thirty days prior written notice. 
 6.6. Termination for Reason Other Than Cause. The Company may terminate your
employment for any reason other than Cause by giving thirty days written notice to you. 

  
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 6.7. Notice of Termination. Any termination by the Company or by you pursuant to
Sections 6.1 through 6.6 above shall be communicated by written Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a notice specifying the termination
provision in this Agreement relied upon and, for purposes of Sections 6.1 through 6.6 above, setting forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of your employment under the provision so
specified. 
 6.8. Date of Termination. “Date of Termination” shall mean (A) if your employment is terminated
for Disability, thirty (30) days after Notice of Termination is given (provided that you shall not have returned to the performance of your duties on a full-time basis during such thirty (30) day period); (B) if you terminate your
employment pursuant to Section 6.4 above, the date specified in the Notice of Termination; (C) if your employment is terminated for death, the date of your death; and (D) if your employment is terminated for any
other reason, the date on which Notice of Termination is given. 
 7. RIGHTS AND OBLIGATIONS DURING DISABILITY. During any period
that you fail to perform your duties hereunder as a result of incapacity due to physical or mental illness, you shall continue to receive your full base salary at the rate then in effect, and any time of service for vesting purposes under any plan
shall continue to accrue during such period of incapacity until and if your employment is terminated pursuant to Section 6.2 hereof (and for any longer period as may be provided under applicable plans). 

8. RIGHTS AND OBLIGATIONS UPON TERMINATION. 

8.1. Termination Related to Death or Disability. If your employment is terminated pursuant to Sections 6.1 or 6.2, the Company
shall pay you, or shall cause to be paid to you, your full Base Salary and accrued vacation pay through the Date of Termination at the rate in effect at the time Notice of Termination is given, plus any benefits or awards (including both the cash
and stock components) which pursuant to the terms of any plans have been earned or become payable, but which have not yet been paid to you, and the Company shall have no further obligations to you under this Agreement. In addition, if your
employment is terminated pursuant to Sections 6.1 or 6.2, the Company will have the option, but not the obligation, to pay you a pro rata portion of the target annual incentive bonus for the period in which the termination occurred (pro rata
based on the number of days during such period up to the Date of Termination to the total number of days in such period). 
 8.2.
Termination Related to Cause or Voluntary Termination. If your employment is terminated pursuant to Section 6.3, or you resign voluntarily pursuant to Section 6.5, the Company shall pay you,
or shall cause to be paid to you, your full Base Salary and accrued vacation pay through the Date of Termination at the rate in effect at the time Notice of Termination is given, plus any benefits or awards (including both the cash and stock
components) which pursuant to the terms of any plans have been earned or become payable, but which have not yet been paid to you, and the Company shall have no further obligations to you under this Agreement. 

  
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 8.3. Termination for Reasons Other Than Cause or by Executive for Good Reason not in
connection with a Change in Control. If your employment is terminated (x) by the Company for reasons other than death, Disability or Cause pursuant to Section 6.6 or (y) by Executive for Good Reason pursuant
to Section 6.4, not in connection with a Change in Control or not within two years after the occurrence of a Change in Control, then the Company shall pay you or cause to be paid to you the following: 

(i) Your full Base Salary through the Date of Termination at the rate in effect just prior thereto (not taking into account any reduction in
your base salary that constitutes Good Reason for your termination), plus any earned vacation time, plus any benefits or awards (including both the cash and stock components) which pursuant to the terms of any plans have been earned or become
payable, but which have not yet been paid to you, to be paid within six days of the Date of Termination, plus 
 (ii) an amount equal to
your Base Salary for the calendar year in which the Date of Termination occurs, to be paid within thirty (30) days following the Date of Termination or, if the Company elects, such amount to be paid in twelve equal installments during the
twelve-month period following the Date of Termination, plus 
 (iii) benefits equal in value to each life, health, accident, or disability
benefit to which you were entitled (through insurance, direct reimbursement, or otherwise) immediately before the Date of Termination. The value of the foregoing benefits shall be determined individually rather than in the aggregate, and shall be
compared after subtracting applicable income and employment taxes. The Company shall provide the benefits described in this subsection for a period of one year after the Date of Termination. 

8.4. Termination by the Company for Reason Other Than Death, Disability or Cause or by Executive for Good Reason in connection with a
Change in Control. If (a) prior to and in connection with a Change in Control or (b) within two years after the occurrence of a Change in Control, (i) the Company terminates your employment for a reason other than for death,
Disability or Cause pursuant to Section 6.6 hereof, or (ii) if you terminate your employment for Good Reason as provided for in Section 6.4, then the Company shall pay you or cause to be paid
to you the following: 
 (i) Your full Base Salary through the Date of Termination at the rate in effect just prior thereto (not taking into
account any reduction in your base salary that constitutes Good Reason for your termination), plus any earned vacation time, plus any benefits or awards (including both the cash and stock components) which pursuant to the terms of any plans have
been earned or become payable, but which have not yet been paid to you, to be paid within six days of the Date of Termination, plus 
 (ii)
An amount equal to the aggregate of (y) your Base Salary for the calendar year in which the Date of Termination occurs and (z) all bonus, profit sharing, and other annual incentive payments made by the Company to you with respect to the
most recent full year preceding the year in which the Date of Termination occurs, to be paid within thirty (30) days following the Date of Termination; plus 

  
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 (iii) Benefits equal in value to each life, health, accident, or disability benefit to which you
were entitled (through insurance, direct reimbursement, or otherwise) immediately before the Date of Termination (not taking into account any reduction in such benefit that constitutes Good Reason for your termination). The value of the foregoing
benefits shall be determined individually rather than in the aggregate, and shall be compared after subtracting applicable income and employment taxes. The Company shall provide the benefits described in this subsection for a period terminating one
year after the Date of Termination. An election by you to terminate for Good Reason shall not be deemed a voluntary termination of employment by you for purposes of this Agreement or of any plan or practice of the Company. At the end of the period
of coverage, you shall have the option to have assigned to you, at no cost and with no apportionment of prepaid premiums, any assignable insurance policy owned by the Company or relating specifically to you. 

8.5. Release. As a condition to receiving the severance payments provided in Section 8.3 or 8.4, Executive
must (a) execute a full release and waiver of all claims against the Company and its affiliates in a form reasonably satisfactory to the Company (excluding claims for amounts required under this Agreement to be paid as severance and existing
indemnification obligations to Executive) and (b) comply with the terms of Section 9 hereof. 
 8.6. Base
Salary Defined. For purposes of this Agreement, the term “Base Salary” shall include any amounts deducted pursuant to Sections 125 and 401(k) of the Internal Revenue Code of 1986, as amended (the “Code”).
Amounts paid pursuant to this Section 8 shall be deemed severance pay and in lieu of any further salary for periods subsequent to the Date of Termination. 

8.7. Parachute Payment. Notwithstanding anything in this Section 8 to the contrary, if you are a
“Disqualified Individual” (as defined in Section 280G(c) of the Code) and the payment provided for in this Section 8, together with any other payments which you have the right to receive from the
Company (including without limitation the payments under Section 8.4 and the acceleration of vesting of equity awards under Company equity incentive plans) would constitute a “Parachute Payment” (as defined
in Section 280G(b)(2) of the Code), the total amounts received by you from the Company which constitute Parachute Payments shall be reduced to be one dollar ($1.00) less than three (3) times your base amount (as defined in
Section 280G of the Code) so that no portion of such amounts received by you shall be subject to the excise tax imposed by Section 4999 of the Code if and only if (i) such reduction in the amount paid produces a better net after tax
position (taking into account any applicable excise tax under Section 4999 of the Code and any applicable income tax) than the total payment provided for herein and (ii) there are no other amounts receivable by you from the Company which,
by their terms, may not be reduced such that no portion of such amounts received by you shall be subject to the excise tax under Section 4999 of the Code. 

8.8. Tax Issues. To the extent that the payment provided for herein results in compensation income to you for federal or state income
tax purposes, you shall pay to the Company at the time of such event such amount of money as the Company may require to meet its withholding obligation under applicable tax laws or regulations, if any, and, if you fail to do so, the Company is
authorized to withhold from any cash remuneration then or thereafter payable to you, any tax required to be withheld by reason of such resulting compensation income. If you make the election authorized by Section 83(b) of the Code, you shall
submit to the Company a copy of the statement filed to make such election. 

  
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 9. PROMISES AND COVENANTS REGARDING CONFIDENTIAL INFORMATION AND GOODWILL; POST-EMPLOYMENT
RESTRICTIONS. In consideration of your promises and covenants contained in this Agreement, including your promise and covenant not to disclose Confidential Information set forth in Section 9.3, and in connection with
your continued employment with the Company, the Company will provide you with Confidential Information necessary for you to execute your duties hereunder. In further consideration of your promises and covenants contained in this Agreement, including
your promise and covenant to utilize the Goodwill exclusively for the benefit of the Company set forth in Section 2, and in connection with the Company’s continued employment of you, the Company will provide to you and
allow you to utilize the Confidential Information and Goodwill in the performance of your duties hereunder. 
 9.1. Confidential
Information Defined. You acknowledge that the Company’s business is highly competitive; that the Company has and will give you immediate access to Confidential Information of the Company that is a valuable, special, and unique asset used by
the Company in its business; and that protection of such Confidential Information against unauthorized disclosure and use is of critical importance to the Company. “Confidential Information” of the Company (or any affiliate) means
and includes confidential and/or proprietary information and/or trade secrets of the Company and its affiliates and subsidiaries that have been and/or will be developed or used and that cannot be obtained readily by third parties from outside
sources. Confidential Information includes, but is not limited to, the following: information regarding customers, employees, contractors and the industry not generally known to the public: strategies, methods, books, records and documents;
technical information concerning products, equipment, services and processes; procurement procedures, pricing and pricing techniques; information concerning past, current and prospective customers, investors and business affiliates (such as contact
name, service provided, pricing, type and amount of services used, financial data and/or other such information); pricing strategies and price curves; positions; plans or strategies for expansion or acquisitions; budgets; research; financial and
sales data; trading methodologies and terms; communications information; evaluations, opinions and interpretations of information and data; marketing and merchandising techniques; electronic databases; models; specifications; computer programs;
contracts; bids or proposals; technologies and methods; training methods and processes; organizational structure; personnel information; payments or rates paid to consultants or other service providers; and other such confidential or proprietary
information. 
 9.2. Goodwill Defined. “Goodwill” means the value of the relationships between the Company and its
customers, vendors and employees. 
 9.3. Non-Disclosure Obligations. The parties acknowledge
that the Company is the sole and exclusive owner of the Confidential Information, and that the Company has legitimate business interests in protecting Confidential Information. The parties further acknowledge that the Company has invested, and
continues to invest, considerable amounts of time and money in obtaining, developing, and preserving the confidentiality of Confidential Information and that, by reason of the trust relationship arising between you and the Company, you owe the
Company a fiduciary duty to preserve and protect Confidential Information from all unauthorized disclosure and unauthorized use. You shall not, directly or indirectly, disclose Confidential Information to any third party or use Confidential
Information for any purpose other than for the direct benefit of 

  
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the Company while in the Company’s employ and thereafter. You also agree that you shall deliver promptly to the Company at the termination of employment or at any other time at the
Company’s request, without retaining any copies, all documents and other material in your possession relating, directly or indirectly, to any Confidential Information or other information of the Company, or Confidential Information or other
information regarding third parties learned as an employee of the Company. 
 9.4.
Non-Competition and Non-Solicitation Obligations. In order to protect the Confidential Information and Goodwill and in order to enforce your agreement not to
disclose Confidential Information, the Company and you agree that, during the term of your employment with the Company and for twelve (12) months after the termination of your employment with the Company pursuant to Sections 6.2, 6.3, 6.4,
6.5 or 6.6, you will not, except in your capacity as an employee of the Company, in any capacity for you or others, directly or indirectly: 

(i) compete or engage, anywhere in the geographic area comprised of Brazos, Dallas, Harris, Montgomery, Fort Bend and Tarrant Counties in
Texas, and any additional county in which the Company has established a branch office (the “Market Area”), in a financial services business similar to that of the Company; 

(ii) take any action to invest in, own, manage, operate, control, participate in, be employed or engaged by or be connected in any manner with
any partnership, association, corporation, limited liability company, trust, unincorporated organization or any other business entity (an “Entity”) engaging in a financial or depository institution, financial planning or investment
advisory business similar to that of the Company anywhere within the Market Area; except that you are permitted to own, directly or indirectly, up to two percent (2%) of the issued and outstanding securities of any publicly traded financial
institution conducting business in the Market Area; 
 (iii) Within the Market Area (i) enter into, or facilitate any other Entity to
enter into, an agreement with any customer of the Company to provide goods and services of the same or similar type as the Company provides, (ii) accept business from, or facilitate any other Entity to gain or accept such business from or with
any customer of the Company, (iii) assist a competitor of the Company in the sale to any customer of the Company of business of the same or similar type as the Company provides, or (iv) encourage or facilitate any customer of the Company
to purchase goods and services of the same or similar type as the Company provides from a competitor of the Company. 
 (iv) Within the
geographic Market Area, call on, service or solicit competing business from any customers of the Company if, within the twelve (12) months before your termination, you had or made contact with the customer, or had access to information and
files about the customer; or 
 (v) call on, solicit or induce any employee of the Company whom you had contact, knowledge of, or
association with in the course of employment with the Company to terminate employment from the Company, and will not assist any other person or entity in such activities. 

  
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 9.5. Permissible Business Interests. Your involvement in the business interests listed in
Exhibit A to this Agreement shall not be deemed to compete with the interests of the Company. 
 9.6. Injunctive Relief. You
and the Company acknowledge and agree that breach of any of the covenants made by you in this Section 9 would cause irreparable injury to the Company, which could not sufficiently be remedied by monetary damages; and,
therefore, that the Company shall be entitled to obtain such equitable relief as declaratory judgments; temporary, preliminary and permanent injunctions; and order of specific performance to enforce those covenants or to prohibit any act or omission
that constitutes a breach thereof or any other equitable remedies. If a party must bring suit to enforce this Agreement or to defend any such action, the prevailing party shall be entitled to recover its attorneys’ fees and costs related
thereto. 
 9.7. Tolling. In the event that the Company shall file a lawsuit in any court of competent jurisdiction alleging a breach
of any of the obligations under this Section of this Agreement, any time period you are in breach of this Agreement shall be deemed tolled as of the time such lawsuit is filed, and shall remain tolled until such dispute finally is resolved. 

10. ACKNOWLEDGEMENTS REGARDING OTHER PROMISES AND COVENANTS. With regard to the promises and covenants set forth herein, you
acknowledge and agree that: 
 (i) the restrictions are ancillary to an otherwise enforceable agreement including the provisions of this
Agreement regarding the disclosure, ownership and use of the Confidential Information and Goodwill; 
 (ii) the limitations as to time,
geographical area, and scope of activity to be restricted are reasonable and acceptable to you, and do not impose any greater restraint than is reasonably necessary to protect the Goodwill and other legitimate business interests of the Company; 

(iii) your performance, and the enforcement by the Company, of such promises and covenants will cause no undue hardship on you; and 

(iv) the time periods covered by the promises and covenants will not include any period(s) of violation of, or any period(s) of time required
for litigation brought by the Company to enforce any such promise or covenant. 
 11. DUTY TO GIVE NOTICE OF AGREEMENT. During
employment by the Company and the period of any post-employment obligation applicable hereunder, you shall provide written notice to any prospective employer of your obligations under this Agreement, and shall provide a true copy hereof to such
prospective employer at the outset of any communications about employment. 
 12. INDEPENDENT ELEMENTS. The parties
acknowledge that the promises and covenants contained in Sections 9 and 10 above are essential independent elements of this Agreement and that, but for Executive agreeing to comply with them, the Company would not employ Executive.
Accordingly, the existence or assertion of any claim by Executive against the 

  
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Company, whether based on this Agreement or otherwise, shall not operate as a defense to the Company’s enforcement of the promises and covenants in Sections 9 and 10. An alleged or
actual breach of the Agreement by the Company will not be a defense to enforcement of any such promise or covenant, or other obligations of Executive to the Company. The promises and covenants in Sections 9 and 10 will remain in full force
and effect whether Executive is terminated by the Company or voluntarily resigns. 
 13. INDEMNIFICATION. The Company’s Bylaws
provide for indemnification of directors and officers of the Company, including you, during the full term of this Agreement, and at all times to provide adequate insurance for such purposes. Further, you shall, to the extent permitted by law, be
indemnified from and against any and all cost or expense incurred by you as a result of being made a party or threatened to be made a party or involved in any way in any threatened, pending or contemplated action, suit or proceeding, whether civil,
criminal, administrative, arbitrative or investigative (herein a “Proceeding”), or any appeal related to such a Proceeding, or any inquiry or investigation that could lead to such a Proceeding by reason of the fact of your
relationship with the Company. You shall be indemnified to the full extent permitted by law, against any and all costs, expenses, judgments, penalties (including excise and similar taxes and punitive damages, fines, settlements and reasonable
expenses (including without limitation, attorneys’ fees)) incurred (or reasonably anticipated to be incurred) by you in connection with such Proceeding. Notwithstanding the above, the Company shall not be obligated to indemnify you in
connection with any Proceeding or claim initiated by you against the Company or its subsidiaries, officers, directors or employees. 
 14.
SUCCESSOR’S BINDING AGREEMENT. 
 (i) The Company will cause any entity that becomes a Successor (as hereinafter defined) to
expressly assume the Company’s obligations under this Agreement and acknowledge that the Successor is contractually bound to perform all of such obligations. Failure of such entity to furnish such assumption and acknowledgement by the time such
entity becomes a Successor shall constitute Good Reason for termination by you of your employment if a Change in Control of the Company occurs or has occurred. For purposes of this Agreement, “Successor” shall mean any entity that
succeeds to, or has the practical ability to control (either immediately or with the passage of time), the Company’s business directly, by merger or consolidation, or indirectly, by purchase of the Company’s voting securities or otherwise.

 (ii) This Agreement shall inure to the benefit of and be enforceable by your personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees. If you should die before all amounts that would still be payable to you hereunder if you had continued to live are paid, all such unpaid amounts, unless otherwise provided
herein, shall he paid in accordance with the terms of this Agreement to your devisee, legatee, or other designee or, if there be no such designee, to your estate. 

  
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 15. TAXES. All payments to be made to you under this Agreement will be subject to required
withholding of applicable federal, state and local taxes. 
 16. SECTION 409A. 

16.1. Purpose. This section is intended to help ensure that compensation paid or delivered to you pursuant to this Agreement
either is paid in compliance with, or is exempt from, Section 409A of the Code and the rules and regulations promulgated thereunder (collectively, “Section 409A”). However, the Company does not warrant that
all compensation paid or delivered to you will be exempt from, or paid in compliance with, Section 409A. 
 16.2.
Interpretation. Notwithstanding anything herein to the contrary, this Agreement is intended to be interpreted and applied so that the payments and benefits set forth herein shall either be exempt from the requirements of Section 409A, or
shall comply with the requirements of Section 409A, and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be exempt from or in compliance with Section 409A. For purposes of the application of Treas. Reg.
§ 1.409A-1(b)(4) (or any successor provision), each payment under this Agreement (including any installment payments) shall be deemed a separate payment. 

16.3. Amounts Payable On Account of Termination. For the purposes of determining when amounts otherwise payable on account of your
termination of employment under this Agreement will be paid, which amounts become due because of your termination of employment, “termination of employment” or words of similar import, as used in this Agreement, shall be construed as the
date that you first incur a “separation from service” for purposes of Section 409A on or following termination of employment. Notwithstanding any provision in this Agreement or elsewhere to the contrary, if on your Date of Termination
you are deemed to be a “specified employee” within the meaning of Section 409A, any payments or benefits due upon a termination of your employment under any arrangement that constitutes a “deferral of compensation” within
the meaning of Section 409A (whether under this Agreement, any other plan, program, payroll practice or any equity grant) and which do not otherwise qualify under the exemptions under Treas. Reg. §
1.409A-1 (including, without limitation, the short-term deferral exemption and the permitted payments under Treas. Reg. § 1.409A-1(b)(9)(iii)(A)), shall be delayed
and paid or provided to you in a lump sum (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) on the earlier of (i) the date which is six months and one day after your
“separation from service” (as such term is defined in Section 409A of the Code) for any reason other than death, and (ii) the date of your death, and any remaining payments and benefits shall be paid or provided in accordance
with the normal payment dates specified for such payment or benefit. 
 16.4. Reimbursements. With respect to any expense,
reimbursement or in-kind benefit provided pursuant to this Agreement that constitutes a “deferral of compensation” within the meaning of Section 409A, (i) the expenses eligible for
reimbursement or in-kind benefits provided to you must be incurred during the Term (or applicable survival period), (ii) the amount of expenses eligible for reimbursement or
in-kind benefits provided to you during any calendar year will not affect the amount of expenses eligible for reimbursement or in-kind benefits provided to you in any
other calendar year, (iii) the reimbursements for expenses for which you are entitled to be reimbursed shall be made on or before the last day of the calendar year following the calendar year in which the applicable expense is incurred, and
(iv) the right to payment or reimbursement or in-kind benefits hereunder may not be liquidated or exchanged for any other benefit. 

  
 - 12 - 

 17. SURVIVAL. Any termination of this Agreement and Executive’s employment shall not
release either the Company or Executive from their respective obligations to the date of termination nor from the provisions of this Agreement that, by necessary or reasonable implication, are intended to apply after such termination, including
without limitation the provisions of Section 9. Furthermore, neither the termination of this Agreement nor the termination of Executive’s employment hereunder shall affect, limit or modify in any manner the existence
or enforceability of any other written agreement between Executive and the Company, even if such other agreements provide employment-related benefits to Executive. 

18. NOTICES. Notices and all other communications provided for herein shall be in writing and shall be deemed to have been duly given
when delivered or mailed by certified or registered mail, return receipt requested, postage prepaid addressed to the respective addresses set forth on the signature page of this Agreement or to such other address as either party may have furnished
to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. All notices to the Company shall be directed to the attention of the Chief Executive Officer of the Company with a copy to
the Corporate Secretary of the Company. 
 19. MISCELLANEOUS. No provision of this Agreement may be modified, waived or discharged
except in writing specifically referring to such provision and signed by you and such officer of the Company as may be specifically designated by the Board. No waiver at any time by either party hereto of the breach of any condition or provision of
this Agreement, or of compliance by the other party with the same, shall be deemed a waiver of any other condition or provision at the same or at any other time. No party hereto shall by any act (except by written instrument pursuant to this
Section), delay, indulgence, omission or otherwise be deemed to have waived any right, power, privilege or remedy hereunder or to have acquiesced in any default in or breach of any of the terms and conditions hereof. No failure to exercise, nor any
delay in exercising, on the part of any party hereto, any right, power, privilege or remedy hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power, privilege or remedy hereunder shall preclude any other or
further exercise thereof or the exercise of any other right, power, privilege or remedy. No remedy set forth in this Agreement or otherwise conferred upon or reserved to any party shall be considered exclusive of any other remedy available to any
party, but the same shall be distinct, separate and cumulative and may be exercised from time to time as often as occasion may arise or as may be deemed expedient. No agreement or representation still in effect, oral or otherwise, express or
implied, with respect to the subject matter hereof has been made by either party other than (i) those set forth expressly in this Agreement or (ii) those in any equity award agreements. Upon termination of your employment, in the event of
any conflict between the terms of this Agreement and the terms of any other agreements between you and the Company, this Agreement shall be controlling. The validity, interpretation, construction and performance of this Agreement shall be governed
by the laws of the State of Texas, without regard to principles of conflicts of laws. Neither party to this Agreement may assign this Agreement or any or all of its rights or obligations hereunder without the prior written consent of the other party
hereto. 

  
 - 13 - 

 20. VALIDITY. The invalidity or unenforceability of any provisions of this Agreement shall
not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. This Agreement and the agreements contemplated hereby or executed in connection herewith (i) constitute the entire
agreement of the parties hereto regarding the subject matter hereof, and (ii) supersede all prior employment agreements, both written and oral, among the parties hereto, or any of them. 

21. COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all
of which together will constitute one and the same instrument. 
 [Signature page follows] 

  
 - 14 - 

 Dated to be effective as of the Effective Date. 

 

			
	COMPANY:
	
	Spirit of Texas Bancshares, Inc.
		
	By:	 	        /s/ Dean O. Bass
		 	Name: Dean O. Bass
		 	Title: Chairman/CEO
		 	Address:
		
		 	        /s/ Jeffrey A. Powell
		 	Jeffrey A. Powell
		 	Address:

 Signature Page 

 EXHIBIT A 

Permissible Business Interests 

Exhibit AEX-10.5

 Exhibit 10.5 

ST FINANCIAL GROUP, INC. 

2008 STOCK PLAN 

 TABLE OF CONTENTS 

 

					
	 	  	Page No.	 
	 SECTION 1. ESTABLISHMENT AND PURPOSE
	  	 	1	 
		
	 SECTION 2. ADMINISTRATION
	  	 	1	 
		
	 (a)   Committees of the Board of Directors
	  	 	1	 
	 (b)   Authority of the Board of Directors
	  	 	1	 
		
	 SECTION 3. ELIGIBILITY
	  	 	1	 
		
	 (a)   General Rule
	  	 	1	 
	 (b)   Ten-Percent Stockholders
	  	 	1	 
		
	 SECTION 4. STOCK SUBJECT TO PLAN
	  	 	2	 
		
	 (a)   Basic Limitation
	  	 	2	 
	 (b)   Additional Shares
	  	 	2	 
		
	 SECTION 5. TERMS AND CONDITIONS OF AWARDS OR SALES
	  	 	2	 
		
	 (a)   Stock Purchase Agreement
	  	 	2	 
	 (b)   Duration of Offers and Nontransferability of Rights
	  	 	2	 
	 (c)   Purchase Price
	  	 	2	 
	 (d)   Withholding Taxes
	  	 	2	 
	 (e)   Restrictions on Transfer of Shares
	  	 	3	 
		
	 SECTION 6. TERMS AND CONDITIONS OF OPTIONS
	  	 	3	 
		
	 (a)   Stock Option Agreement
	  	 	3	 
	 (b)   Number of Shares
	  	 	3	 
	 (c)   Exercise Price
	  	 	3	 
	 (d)   Exercisability
	  	 	3	 
	 (e)   Accelerated Exercisability
	  	 	3	 
	 (f)   Term
	  	 	4	 
	 (g)   Restrictions on Transfer of Shares
	  	 	4	 
	 (h)   Transferability of Options
	  	 	4	 
	 (i) Withholding Taxes
	  	 	4	 
	 (j) No Rights as a Stockholder
	  	 	4	 
	 (k)   Modification, Extension and Assumption of Options
	  	 	4	 
		
	 SECTION 7. PAYMENT FOR SHARES
	  	 	5	 
		
	 (a)   General Rule
	  	 	5	 
	 (b)   Surrender of Stock
	  	 	5	 
	 (c)   Services Rendered
	  	 	5	 
	 (d)   Promissory Note
	  	 	5	 
	 (e)   Exercise/Sale
	  	 	5	 
	 (f)   Exercise/Pledge
	  	 	5	 

  
 i 

					
		
	 SECTION 8. ADJUSTMENT OF SHARES
	  	 	6	 
		
	 (a)   General
	  	 	6	 
	 (b)   Mergers and Consolidations
	  	 	6	 
	 (c)   Reservation of Rights
	  	 	6	 
		
	 SECTION 9. SECURITIES LAWS REQUIREMENTS
	  	 	6	 
		
	 SECTION 10. NO RETENTION RIGHTS
	  	 	7	 
		
	 SECTION 11. DURATION AND AMENDMENTS
	  	 	7	 
		
	 (a)   Term of the Plan
	  	 	7	 
	 (b)   Right to Amend or Terminate the Plan
	  	 	7	 
	 (c)   Effect of Amendment or Termination
	  	 	7	 
		
	 SECTION 12. DEFINITIONS
	  	 	7	 

  
 ii 

 ST FINANCIAL GROUP, INC. 2008 STOCK
PLAN 
 SECTION 1. ESTABLISHMENT AND PURPOSE. 

The purpose of the Plan is to offer selected persons an opportunity to acquire a proprietary interest in the success of the Company, or to
increase such interest, by purchasing Shares of the Company’s Stock. The Plan provides both for the direct award or sale of Shares and for the grant of Options to purchase Shares. Options granted under the Plan may include Nonstatutory Options
as well as ISOs intended to qualify under Section 422 of the Code. 
 Capitalized terms are defined in Section 12. 

SECTION 2. ADMINISTRATION. 
 (a)
Committees of the Board of Directors. The Plan may be administered by one or more Committees. Each Committee shall consist of one or more members of the Board of Directors who have been appointed by the Board of Directors. Each Committee
shall have such authority and be responsible for such functions as the Board of Directors has assigned to it. If no Committee has been appointed, the entire Board of Directors shall administer the Plan. Any reference to the Board of Directors in the
Plan shall be construed as a reference to the Committee (if any) to whom the Board of Directors has assigned a particular function. 
 (b)
Authority of the Board of Directors. Subject to the provisions of the Plan, the Board of Directors shall have full authority and discretion to take any actions it deems necessary or advisable for the administration of the Plan. All decisions,
interpretations and other actions of the Board of Directors shall be final and binding on all Purchasers, all Optionees and all persons deriving their rights from a Purchaser or Optionee. 

SECTION 3. ELIGIBILITY. 
 (a)
General Rule. Only Employees, Outside Directors and Consultants shall be eligible for the grant of Nonstatutory Options or the direct award or sale of Shares. Only Employees shall be eligible for the grant of ISOs. 

(b) Ten-Percent Stockholders. A person who owns more than 10% of the total combined
voting power of all classes of outstanding stock of the Company, its Parent or any of its Subsidiaries shall not be eligible for the grant of an ISO unless (i) the Exercise Price is at least 110% of the Fair Market Value of a Share on the date
of grant and (ii) such ISO by its terms is not exercisable after the expiration of five years from the date of grant. For purposes of this Subsection (b), in determining stock ownership, the attribution rules of Section 424(d) of the
Code shall be applied. 

  
 1 

 SECTION 4. STOCK SUBJECT TO PLAN. 

(a) Basic Limitation. Not more than [20% OF THE NUMBER OF SHARES SOLD IN THE OFFERING] Shares may be issued under the Plan
(subject to Subsection (b) below and Section 8). The number of Shares that are subject to Options or other rights outstanding at any time under the Plan shall not exceed the number of Shares that then remain available for issuance under
the Plan. The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. Shares offered under the Plan may be authorized but unissued Shares or treasury Shares. 

(b) Additional Shares. In the event that Shares previously issued under the Plan are reacquired by the Company pursuant to a forfeiture
provision, right of repurchase or right of first refusal, such Shares shall be added to the number of Shares then available for issuance under the Plan. However, the aggregate number of Shares issued upon the exercise of ISOs (including Shares
reacquired by the Company) shall in no event exceed 200% of the number specified in Subsection (a) above. In the event that an outstanding Option or other right for any reason expires or is canceled, the Shares allocable to the unexercised
portion of such Option or other right shall not reduce the number of Shares available for issuance under the Plan. 
 SECTION 5. TERMS AND CONDITIONS OF
AWARDS OR SALES. 
 (a) Stock Purchase Agreement. Each award or sale of Shares under the Plan (other than upon exercise of an
Option) shall be evidenced by a Stock Purchase Agreement between the Purchaser and the Company. Such award or sale shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions which are not
inconsistent with the Plan and which the Board of Directors deems appropriate for inclusion in a Stock Purchase Agreement. The provisions of the various Stock Purchase Agreements entered into under the Plan need not be identical. 

(b) Duration of Offers and Nontransferability of Rights. Any right to acquire Shares under the Plan (other than an Option) shall
automatically expire if not exercised by the Purchaser within 30 days after the grant of such right was communicated to the Purchaser by the Company. In addition, if the Company’s capital falls below the minimum regulatory requirements, the
Company, if directed by its federal or state regulators, may require the Purchaser to exercise or forfeit such right within such shorter period of time as is required by such regulators. Such right shall not be transferable and shall be exercisable
only by the Purchaser to whom such right was granted. 
 (c) Purchase Price. The Purchase Price of Shares to be offered under the
Plan, if newly issued, shall not be less than the Fair Market Value of such Shares. Subject to the preceding sentence, the Board of Directors shall determine the Purchase Price at its sole discretion. The Purchase Price shall be payable in a form
described in Section 7. 
 (d) Withholding Taxes. As a condition to the purchase of Shares, the Purchaser shall make such
arrangements as the Board of Directors may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such purchase. 

  
 2 

 (e) Restrictions on Transfer of Shares. Any Shares awarded or sold under the Plan shall be
subject to such special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Board of Directors may determine. Such restrictions shall be set forth in the applicable Stock Purchase Agreement and
shall apply in addition to any restrictions that may apply to holders of Shares generally. A Stock Purchase Agreement may provide for accelerated vesting in the event of the Purchaser’s death, disability or retirement or other events. 

SECTION 6. TERMS AND CONDITIONS OF OPTIONS. 

(a) Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee
and the Company. Such Option shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions which are not inconsistent with the Plan and which the Board of Directors deems appropriate for
inclusion in a Stock Option Agreement. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. 

(b) Number of Shares. Each Stock Option Agreement shall specify the number of Shares that are subject to the Option and shall provide
for the adjustment of such number in accordance with Section 8. The Stock Option Agreement shall also specify whether the Option is an ISO or a Nonstatutory Option. 

(c) Exercise Price. Each Stock Option Agreement shall specify the Exercise Price. The Exercise Price of an ISO shall not be less than
100% of the Fair Market Value of a Share on the date of grant, and a higher percentage may be required by Section 3(b). The Exercise Price of a Nonstatutory Option to purchase newly issued Shares shall not be less than 100% of the Fair Market
Value of a Share on the date of grant. Subject to the preceding two sentences, the Exercise Price under an Option shall be determined by the Board of Directors at its sole discretion. The Exercise Price shall be payable in a form described in
Section 7. 
 (d) Exercisability. Each Stock Option Agreement shall specify the date when all or any installment of the Option
is to become exercisable. No Option shall be exercisable unless the Optionee has delivered an executed copy of the Stock Option Agreement to the Company. The Board of Directors shall determine the exercisability provisions of any Stock Option
Agreement at its sole discretion. 
 (e) Accelerated Exercisability. Unless the applicable Stock Option Agreement provides otherwise,
all of an Optionee’s Options shall become exercisable in full if (i) the Company is subject to a Change in Control before the Optionee’s Service terminates, (ii) such Options do not remain outstanding, (iii) such Options are
not assumed by the surviving corporation or its parent and (iv) the surviving corporation or its parent does not substitute options with substantially the same terms for such Options. A Stock Option Agreement may also provide for accelerated
exercisability in the event of the Optionee’s death, disability or retirement or other events. 

  
 3 

 (f) Term. The Stock Option Agreement shall specify the term of the Option. The term shall
not exceed 10 years from the date of grant, and in the case of an ISO a shorter term may be required by Section 3(b). Subject to the preceding sentence, the Board of Directors at its sole discretion shall determine when an Option is to expire.
A Stock Option Agreement may provide for expiration prior to the end of its term in the event of the termination of the Optionee’s Service or death. In addition, if the Company’s capital falls below the minimum regulatory requirements, the
Company, if directed by its federal or state regulators, may require the Option holder to exercise or forfeit that portion of its Option that is capable of exercise and to forfeit that portion of its Option that is not capable of exercise within
such shorter period of time as is required by such regulators. 
 (g) Restrictions on Transfer of Shares. Any Shares issued upon
exercise of an Option shall be subject to such special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Board of Directors may determine. Such restrictions shall be set forth in the
applicable Stock Option Agreement and shall apply in addition to any restrictions that may apply to holders of Shares generally. 
 (h)
Transferability of Options. An Option shall be transferable by the Optionee only by (i) a beneficiary designation, (ii) a will or (iii) the laws of descent and distribution, except as provided in the next sentence. If the
applicable Stock Option Agreement so provides, a Nonstatutory Option shall also be transferable by the Optionee by (i) a gift to a member of the Optionee’s Immediate Family or (ii) a gift to an inter vivos or testamentary trust
in which members of the Optionee’s Immediate Family have a beneficial interest of more than 50% and which provides that such Nonstatutory Option is to be transferred to the beneficiaries upon the Optionee’s death. An ISO may be exercised
during the lifetime of the Optionee only by the Optionee or by the Optionee’s guardian or legal representative. 
 (i) Withholding
Taxes. As a condition to the exercise of an Option, the Optionee shall make such arrangements as the Board of Directors may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in
connection with such exercise. The Optionee shall also make such arrangements as the Board of Directors may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with the
disposition of Shares acquired by exercising an Option. 
 (j) No Rights as a Stockholder. An Optionee, or a transferee of an
Optionee, shall have no rights as a stockholder with respect to any Shares covered by the Optionee’s Option until such person becomes entitled to receive such Shares by filing a notice of exercise and paying the Exercise Price pursuant to the
terms of such Option. 
 (k) Modification, Extension and Assumption of Options. Within the limitations of the Plan, the Board of
Directors may modify, extend or assume outstanding Options or may accept the cancellation of outstanding Options (whether granted by the Company or another issuer) in return for the grant of new Options for the same or a different number of Shares
and at the same or a different Exercise Price. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, impair the Optionee’s rights or increase the Optionee’s obligations under such Option.

  
 4 

 SECTION 7. PAYMENT FOR SHARES. 

(a) General Rule. The entire Purchase Price or Exercise Price of Shares issued under the Plan shall be payable in cash or cash
equivalents at the time when such Shares are purchased, except as otherwise provided in this Section 7. 
 (b) Surrender of
Stock. To the extent that a Stock Option Agreement so provides, all or any part of the Exercise Price may be paid by surrendering, or attesting to the ownership of, Shares that are already owned by the Optionee. Such Shares shall be surrendered
to the Company in good form for transfer and shall be valued at their Fair Market Value on the date when the Option is exercised. The Optionee shall not surrender, or attest to the ownership of, Shares in payment of the Exercise Price if such action
would cause the Company to recognize compensation expense (or additional compensation expense) with respect to the Option for financial reporting purposes. 

(c) Services Rendered. At the discretion of the Board of Directors, Shares may be awarded under the Plan in consideration of services
rendered to the Company, a Parent or a Subsidiary prior to the award. 
 (d) Promissory Note. To the extent that a Stock Option
Agreement or Stock Purchase Agreement so provides, all or a portion of the Exercise Price or Purchase Price (as the case may be) of Shares issued under the Plan may be paid with a full-recourse promissory note. However, the par value of the Shares,
if newly issued, shall be paid in cash or cash equivalents. The Shares shall be pledged as security for payment of the principal amount of the promissory note and interest thereon. The interest rate payable under the terms of the promissory note
shall not be less than the minimum rate (if any) required to avoid the imputation of additional interest under the Code. Subject to the foregoing, the Board of Directors (at its sole discretion) shall specify the term, interest rate, amortization
requirements (if any) and other provisions of such note. 
 (e) Exercise/Sale. To the extent that a Stock Option Agreement so
provides, and if Stock is publicly traded, payment may be made all or in part by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part
of the sales proceeds to the Company in payment of all or part of the Exercise Price and any withholding taxes. 
 (f)
Exercise/Pledge. To the extent that a Stock Option Agreement so provides, and if Stock is publicly traded, payment may be made all or in part by the delivery (on a form prescribed by the Company) of an irrevocable direction to pledge Shares
to a securities broker or lender approved by the Company, as security for a loan, and to deliver all or part of the loan proceeds to the Company in payment of all or part of the Exercise Price and any withholding taxes. 

  
 5 

 SECTION 8. ADJUSTMENT OF SHARES. 

(a) General. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a declaration of an
extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the Fair Market Value of the Stock, a combination or consolidation of the outstanding Stock into a lesser number of Shares, a recapitalization, a spin-off, a reclassification or a similar occurrence, the Board of Directors shall make appropriate adjustments in one or more of (i) the number of Shares available for future grants under Section 4,
(ii) the number of Shares covered by each outstanding Option or (iii) the Exercise Price under each outstanding Option. 
 (b)
Mergers and Consolidations. In the event that the Company is a party to a merger or consolidation, outstanding Options shall be subject to the agreement of merger or consolidation. Such agreement shall provide for: 

(i) The continuation of such outstanding Options by the Company (if the Company is the surviving corporation); 

(ii) The assumption of the Plan and such outstanding Options by the surviving corporation or its parent; 

(iii) The substitution by the surviving corporation or its parent of options with substantially the same terms for such
outstanding Options; 
 (iv) The full exercisability of such outstanding Options and full vesting of the Shares subject to
such Options, followed by the cancellation of such Options; or 
 (v) The settlement of the full value of such outstanding
Options (whether or not then exercisable) in cash or cash equivalents, followed by the cancellation of such Options. 
 (c) Reservation
of Rights. Except as provided in this Section 8, an Optionee or Purchaser shall have no rights by reason of (i) any subdivision or consolidation of shares of stock of any class, (ii) the payment of any dividend or (iii) any
other increase or decrease in the number of shares of stock of any class. Any issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof
shall be made with respect to, the number or Exercise Price of Shares subject to an Option. The grant of an Option pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications,
reorganizations or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 

SECTION 9. SECURITIES LAW REQUIREMENTS. 

Shares shall not be issued under the Plan unless the issuance and delivery of such Shares comply with (or are exempt from) all applicable
requirements of law, including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other securities market
on which the Company’s securities may then be traded. 

  
 6 

 SECTION 10. NO RETENTION RIGHTS. 

Nothing in the Plan or in any right or Option granted under the Plan shall confer upon the Purchaser or Optionee any right to continue in
Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Parent or Subsidiary employing or retaining the Purchaser or Optionee) or of the Purchaser or Optionee, which rights are
hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without cause. 
 SECTION 11. DURATION AND
AMENDMENTS. 
 (a) Term of the Plan. The Plan, as set forth herein, shall become effective on the date of its adoption by the
Board of Directors, subject to the approval of the Company’s stockholders. If the stockholders fail to approve the Plan within 12 months after its adoption by the Board of Directors, then any grants, exercises or sales that have already
occurred under the Plan shall be rescinded and no additional grants, exercises or sales shall thereafter be made under the Plan. The Plan shall terminate automatically 10 years after the later of (i) its adoption by the Board of Directors or
(ii) the most recent increase in the number of Shares reserved under Section 4 that was approved by the Company’s stockholders. The Plan may be terminated on any earlier date pursuant to Subsection (b) below. 

(b) Right to Amend or Terminate the Plan. The Board of Directors may amend, suspend or terminate the Plan at any time and for any
reason; provided, however, that any amendment of the Plan shall be subject to the approval of the Company’s stockholders if it (i) increases the number of Shares available for issuance under the Plan (except as provided in Section 8)
or (ii) materially changes the class of persons who are eligible for the grant of ISOs. Stockholder approval shall not be required for any other amendment of the Plan. If the stockholders fail to approve an increase in the number of Shares
reserved under Section 4 within 12 months after its adoption by the Board of Directors, then any grants, exercises or sales that have already occurred in reliance on such increase shall be rescinded and no additional grants, exercises or sales
shall thereafter be made in reliance on such increase. 
 (c) Effect of Amendment or Termination. No Shares shall be issued or sold
under the Plan after the termination thereof, except upon exercise of an Option granted prior to such termination. The termination of the Plan, or any amendment thereof, shall not affect any Share previously issued or any Option previously granted
under the Plan. 
 SECTION 12. DEFINITIONS. 

(a) “Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to time. 

  
 7 

 (b) “Change in Control” shall mean: 

(i) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate
reorganization, if persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization own immediately after such merger, consolidation or other reorganization 50% or more of the voting power of
the outstanding securities of each of (A) the continuing or surviving entity and (B) any direct or indirect parent corporation of such continuing or surviving entity; or 

(ii) The sale, transfer or other disposition of all or substantially all of the Company’s assets. 

A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding
company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. 

(c) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(d) “Committee” shall mean a committee of the Board of Directors, as described in Section 2(a). 

(e) “Company” shall mean ST Financial Group, Inc., a Texas corporation. 

(f) “Consultant” shall mean a person who performs bona fide services for the Company, a Parent or a Subsidiary as a
consultant or advisor, excluding Employees and Outside Directors. 
 (g) “Employee” shall mean any individual who is a common-law employee of the Company, a Parent or a Subsidiary. 
 (h) “Exercise Price”
shall mean the amount for which one Share may be purchased upon exercise of an Option, as specified by the Board of Directors in the applicable Stock Option Agreement. 

(i) “Fair Market Value” shall mean the fair market value of a Share, as determined by the Board of Directors in good faith.
Such determination shall be conclusive and binding on all persons. 
 (j) “Immediate Family” shall mean any child,
stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law
and shall include adoptive relationships. 
 (k) “ISO” shall mean an employee incentive stock option described in
Section 422(b) of the Code. 
 (l) “Nonstatutory Option” shall mean a stock option not described in
Sections 422(b) or 423(b) of the Code. 
 (m) “Option” shall mean an ISO or Nonstatutory Option granted under the Plan
and entitling the holder to purchase Shares. 

  
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 (n) “Optionee” shall mean a person who holds an Option. 

(o) “Outside Director” shall mean a member of the Board of Directors who is not an Employee. 

(p) “Parent” shall mean any corporation (other than the Company) in an unbroken chain of corporations ending with the
Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a
Parent on a date after the adoption of the Plan shall be considered a Parent commencing as of such date. 
 (q) “Plan”
shall mean this ST Financial Group, Inc. 2008 Stock Plan. 
 (r) “Purchase Price” shall mean the consideration for which
one Share may be acquired under the Plan (other than upon exercise of an Option), as specified by the Board of Directors. 
 (s)
“Purchaser” shall mean a person to whom the Board of Directors has offered the right to acquire Shares under the Plan (other than upon exercise of an Option). 

(t) “Service” shall mean service as an Employee, Outside Director or Consultant. 

(u) “Share” shall mean one share of Stock, as adjusted in accordance with Section 8 (if applicable). 

(v) “Stock” shall mean the Common Stock of the Company, with a par value of $5.00 per Share. 

(w) “Stock Option Agreement” shall mean the agreement between the Company and an Optionee that contains the terms, conditions
and restrictions pertaining to the Optionee’s Option. 
 (x) “Stock Purchase Agreement” shall mean the agreement
between the Company and a Purchaser who acquires Shares under the Plan that contains the terms, conditions and restrictions pertaining to the acquisition of such Shares. 

(y) “Subsidiary” shall mean any corporation (other than the Company) in an unbroken chain of corporations beginning with the
Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation
that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 

  
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