Document:

<PAGE>
                                                                    EXHIBIT 10.1

                             SUMMARY DESCRIPTION OF
                      NAMED EXECUTIVE OFFICER COMPENSATION

The following table sets forth the annual base salaries, effective April 1,
2005, provided to the following executive officers of Sterling Bancshares, Inc.
(the "Company") who have been included as the "named executive officers" in the
Company's proxy statement for the 2005 Annual Meeting of Shareholders:

<TABLE>
<CAPTION>
           NAME                                      TITLE                                   2005 SALARY
           ----                                      -----                                   -----------
<S>                                 <C>                                                      <C>
J. Downey Bridgwater                President and Chief Executive Officer                     $425,000
Stephen C. Raffaele                 Executive Vice President and                              $242,000
                                    Chief Financial Officer
Glenn W. Rust                       Executive Vice President and                              $212,000
                                    Chief Operations Officer
Daryl D. Bohls                      Executive Vice President and                              $212,000
                                    Regional CEO - North Houston Region
James W. Goolsby, Jr.               Executive Vice President and                              $201,000
                                    General Counsel
</TABLE>

The Company and Mr. Bridgwater are parties to the previously disclosed
Employment Agreement dated effective January 1, 2002. Messrs. Raffaele, Bohls
and Goolsby have entered into separate Severance and Non-Competition Agreements
with the Company. Each of the Employment Agreement and the form of Severance and
Non-Competition Agreement have been filed as exhibits in the Company's filings
with the Securities and Exchange Commission and the terms of such agreements are
incorporated herein.

In addition to the base salaries set forth above, each of the named executive
officers are also eligible to participate in the Company's incentive
compensation program, savings plan and are eligible to receive awards under the
Company's 2003 Stock Incentive and Compensation Plan. Further, from time to time
the named executive officers receive compensation in the form of automobile
allowances, membership fees and dues, tax reimbursement payments, matching
contribution to the Company's 401(k) Plan and Deferred Compensation Plan, life
insurance premiums and other forms of compensation. Each of the named executive
officers is also eligible to receive vacation, paid sick leave and other
employee benefits generally available to the Company's salaried employees.<PAGE>

                                                                    EXHIBIT 10.2

                             SUMMARY DESCRIPTION OF
                       NON-EMPLOYEE DIRECTOR COMPENSATION

The following sets forth the compensation for the non-employee directors of
Sterling Bancshares, Inc. (the "Company") for the 2005-2006 term commencing at
the Annual Meeting of Shareholders held on April 25, 2005. Directors who are
also officers or employees of the Company do not receive any compensation for
duties performed as directors.

         EVENT                                     AMOUNT
----------------------         ---------------------------------------------
Annual Retainer                $15,000, payable in the form of shares of common
                               stock pursuant to the 2003 Stock Incentive and
                               Compensation Plan

Quarterly Board Meeting        $2,500 for each quarterly board meeting
                               attended in person, payable in cash.
                               There will be scheduled a maximum
                               of four quarterly board meetings for a
                               maximum attendance fee of $10,000 per
                               term year.

Other Board Meetings           Directors are compensated for attending, either
                               in person or by telephone, board meetings
                               other than scheduled quarterly board meetings
                               as follows, payable in cash:

                               - Meeting duration of less than         $200
                                 one hour
                               - Meeting duration of one hour or       $500
                                 more, but less than four hours
                               - Meeting duration of four hours      $1,000
                                 or more

Committee Meetings             $750 for each committee meeting attended in
                               person or by telephone, except as noted below,
                               payable in cash.  The number of meetings will
                               vary depending upon need, but there will be
                               scheduled a minimum of four committee meetings
                               for a minimum attendance fee of $3,000 per
                               term year.  The fee for audit committee
                               meetings attended, either in person or by
                               telephone, for the review of quarterly earnings
                               releases and Form 10-Qs will be $200, payable
                               in cash.

<PAGE>

         EVENT                                        AMOUNT
----------------------             -------------------------------------------
Annual Retainer for the            $10,000, payable either in cash or in the
Chairman of the Audit              form of shares of common stock pursuant to
Committee                          the 2003 Stock Incentive and Compensation
                                   Plan, at the election
                                   of the Chairman.

Annual Retainer for the            $5,000, payable in the form of shares of
Chairman of the Human Resources    common stock pursuant to the 2003 Stock
Programs Committee                 Incentive and Compensation Plan.

Annual Retainer for the Chairman   $5,000, payable in the form of shares of
of the Corporate Governance and    common stock pursuant to the 2003
Nominating Committee               Stock Incentive and Compensation  Plan.

The Company reimburses the non-employee directors for their travel expenses
incurred in attending meetings.exv10w1

 

EXHIBIT 10.1

Non-Qualified Stock Option Agreement

pursuant to

The Ryland Group, Inc.

2005 Equity Incentive Plan

AGREEMENT, dated ____________, 200___, between THE RYLAND GROUP, INC. (the “Corporation”) and
____________ (the “Optionee”).

WHEREAS, pursuant to The Ryland Group, Inc. 2005 Equity Incentive Plan (the “Plan”), the Board of
Directors wishes to provide participation in the appreciated equity value of the Corporation by
providing the Optionee with a grant of non-qualified stock options related to Ryland
Common Stock (“Common Stock”), and thereby increase the Optionee’s proprietary interest in the
success of the Corporation; and

WHEREAS, the Optionee desires to accept said grant in accordance with the terms and provisions of
the Plan and this Agreement.

NOW THEREFORE, in consideration of the premises and of the mutual covenants and agreements
hereinafter set forth, the Corporation and the Optionee agree as follows:

1. Grant of Option

Subject to the terms and conditions set forth herein, the Corporation hereby grants to the Optionee
during the period ending at the close of business five years from the date hereof (the “Option
Period”), the option to purchase (the “Option”) from
the Corporation at a price of $______ per
share up to but not exceeding in the aggregate ______ shares of the Corporation’s Common Stock.
THE OPTION GRANTED UNDER THIS AGREEMENT SHALL NOT BE TREATED AS AN “INCENTIVE STOCK OPTION” WITHIN
THE MEANING OF SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

2. Exercise of Option

The Option granted in paragraph 1 may be exercised in whole or in part in accordance with the
following vesting schedule.

The aggregate number of shares of Common Stock optioned by this Agreement shall be divided into three installments.

     The
first installment for ______ shares may be
exercised in whole or in part beginning
_________,
200___.

     The second installment for ______ shares may be exercised in whole or in part beginning _________, 200___.

     The third installment for ______ shares may be exercised in whole or in part beginning _________, 200___.

In case an installment is not immediately exercisable, the Board of Directors or the Compensation
Committee of the Board may in its discretion accelerate the time at which the installment may be
exercised. To the extent not exercised, installments shall accumulate and be exercisable by the
Optionee during the Option Period. Continued accrual of installments shall cease immediately upon
termination of employment for any reason whatsoever, subject to acceleration by the Board of
Directors or the Compensation Committee.

3. Method of Exercising Option and Payment of Exercise Price

The Option shall be exercised by delivery of a written Notice of Exercise stating the number of
shares the Optionee desires to purchase. The form of Notice of Exercise is attached to this
Agreement as Exhibit A. Notice(s) should be delivered to Valerie Zook, The Ryland Group, Inc.,
24025 Park Sorrento, Suite 400, Calabasas, CA 91302; Telephone No. (818) 223-7558; Facsimile No.
(818) 223-7675.

The Optionee shall pay the exercise price in the following ways:

     (a) cash payment (by certified check, bank draft or money order payable to the order of the
Corporation);

     (b) if approved by the Corporation, cash payment may be made from the proceeds of an
immediate sale of Common Stock receivable upon
the exercise of the Option; or

     (c) if approved by the Corporation, delivery of Common Stock (including executed stock powers
attached thereto).

The payment of the exercise price shall be delivered to Valerie Zook together with the Notice of
Exercise.

The Corporation shall, subject to the receipt of withholding tax, issue to the Optionee the stock
certificate for the number of shares of Common Stock with respect to which the Option is exercised.

The value of shares of Common Stock used as payment for the exercise of an Option shall be the
closing price of such shares on the New York Stock Exchange on the date of exercise of an Option or
if no longer listed on such exchange, as otherwise determined by the Corporation, the Board of
Directors or the Compensation Committee of the Board.

4. Certain Tax Matters

Optionee agrees that the Corporation may withhold any federal, state or local taxes upon exercise
of an Option, at such time and upon such terms and conditions as required by law or determined by
the Corporation.

 

5. Termination

The Option granted hereby shall terminate upon the happening of the earliest of the following
events:

     (a) The expiration of five years from the date of this Agreement;

     (b) The expiration of 90 days after the date of termination of the Optionee’s employment,
except in the case of death, disability or
retirement. During this period, the Optionee shall have the right to exercise the Option to
the extent it is exercisable on the termination date.

     (c) The expiration of three years after the date of death of the Optionee if death occurs
while the Optionee is in the employ of the Corporation. During this period, the Optionee’s estate,
personal representative or beneficiary shall have the right to exercise the Option to the extent it
is exercisable on the date of death.

     (d) The expiration of three years after the date the Optionee’s employment is terminated due
to disability or retirement. During this period, the Optionee shall have the right to exercise the
Option to the extent it is exercisable on the date of termination due to disability or retirement.

The Board of Directors or the Compensation Committee of the Board shall have absolute discretion to
determine whether any other termination of Optionee’s employment is to be considered as retirement
for the purposes of this Agreement and whether an authorized leave of absence or otherwise shall
constitute a termination of employment for the purposes of this Agreement. Any determination made
by the Board of Directors or the Compensation Committee of the Board with respect to any matter
referred to in this paragraph 5 shall be final and conclusive on all persons affected thereby.

6. Assignability

The Option is not assignable or transferable except by will or the laws of descent and
distribution. The Option is exercisable during the Optionee’s lifetime only by the Optionee or the
Optionee’s guardian or legal representative.

7. Rights as a Stockholder

The Optionee shall have no rights as a stockholder with respect to any shares covered by the Option
until the date of issuance of the shares to the Optionee, and the Corporation has receipt of
payment for the full exercise price of the Option shares. No adjustment will be made for
dividends, distributions or other rights for which the record date is prior to the date of issuance
of the shares of Common Stock related to the exercise of an Option.

8. Merger, Consolidation or Share Exchange

After any merger, consolidation or share exchange in which the Corporation is the surviving or
resulting corporation, the Optionee shall be entitled, upon the exercise of an Option, to receive
the number and class of shares of stock or other consideration to which the Optionee would have
been entitled, if, immediately prior to such merger, consolidation or share exchange, the Optionee
had exercised the Option in accordance with and subject to the terms of this Agreement. If the
Corporation is not the surviving or resulting corporation in any merger, consolidation or share
exchange, the surviving or resulting corporation shall tender stock options to purchase its shares
on terms and conditions that substantially preserve the rights and benefits under this Option.

9. No Employment Agreement

Nothing in this Agreement or in the Plan shall confer any right to continued employment with the
Corporation or its subsidiaries nor restrict the termination of the employment relationship with
the Optionee at any time.

10. Employee’s Agreement

Notwithstanding any other provision of this Agreement, Optionee agrees that Optionee will not
exercise any Option and the Corporation shall not be obligated to deliver any shares of Common
Stock or make any cash payment if counsel to the Corporation determines such exercise, delivery or
payment would violate any law or regulation of any governmental authority or agreement to which the
Corporation is subject.

11. Resolution of Disputes

Any dispute or disagreement which shall arise under, or as a result of, or pursuant to, this
Agreement shall be determined by the Board of Directors of the Corporation or the Compensation
Committee of the Board of Directors in its absolute discretion, and any determination by the Board
of Directors or the Compensation Committee under or pursuant to this Agreement and any
interpretation by the Board of Directors or the Compensation Committee of the terms of this
Agreement or the Plan shall be final, binding and conclusive on all persons affected thereby.

12. Amendments

The Board of Directors of the Corporation or the Compensation Committee of the Board of Directors
shall have the right, in its absolute discretion, to alter or amend this Agreement in any manner,
and any alteration or amendment of this Agreement by the Board of Directors or the Compensation
Committee shall, upon adoption thereof by the Board of Directors or the Compensation Committee,
become and be binding and conclusive on all

 

 

persons affected thereby without requirement of consent or other action with respect thereto. The
Corporation shall give written notice to the Optionee of any alteration or amendment of this
Agreement by the Board or the Compensation Committee as promptly as practical after the adoption
thereof.

13. Construction

This Agreement has been entered into in accordance with the terms of the Plan, and wherever a
conflict may arise between the terms of this Agreement and the terms of the Plan, the terms of the
Plan shall control.

The Optionee hereby agrees by acceptance of the Option that the terms, conditions and provisions of
this Agreement and the Plan shall determine the rights and obligations of the Corporation and the
Optionee in connection with the Option.

	 	 	 	 	 
	 	THE RYLAND GROUP, INC.

 
 	 
	 	By:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]