Document:

Exhibit 10.25

  
       

    CROSSFIRST BANKSHARES, INC.

      2018 DIRECTORS’ DEFERRED FEE PLAN

      (ADOPTED EFFECTIVE OCTOBER 25, 2018

     

    CrossFirst Bankshares, Inc., a Kansas corporation, (the “Company”) adopts this CrossFirst Bankshares, Inc. 2018 Directors’ Deferred Fee Plan (the “Plan”) for eligible Directors. The Plan is adopted
      effective October 25, 2018.

     

    ARTICLE I

      PURPOSE

     

    The purpose of the Plan is to provide Directors with the opportunity to (i) receive Deferred Shares in lieu of (x) their Directors’ annual equity awards and (y) any other Shares paid to a Director as
      consideration for the Director’s service as a Director and (ii) defer recognition of income tax until the settlement and payment of Deferred Shares upon the Director’s Separation from Service from the Board.

     

    ARTICLE II

      DEFINITIONS

     

    Certain capitalized terms used herein are defined parenthetically throughout this Plan and/or defined in this Article II.

     

    “Account” means the bookkeeping account established by the Company or its delegate as provided in Section 3.2 to reflect Deferred Shares credited to the Account. 

     

    “Beneficiary” means the same beneficiary in effect under the Company Equity Plan.

     

    “Board” means the Board of Directors of the Company, as constituted from time to time.          

     

    “Change in Control” has the same definition as ascribed in the Company Equity Plan as in effect on the Effective Date (and ignoring for this purpose any amendment to such definition after the
      Effective Date), including the requirement that in no event will a Change in Control be deemed to have occurred under this Plan unless such event is also a change in control event under Code section 409A.

     

    “Code” means the Internal Revenue Code of 1986, as amended, and including all applicable regulations and rulings promulgated thereunder. 

     

    “Company Equity Plan” means the Company’s 2018 Omnibus Equity Incentive Plan, as the same may be amended from time to time.

     

    “Committee” means the Compensation Committee of the Board.

    
      
        
 

    

    
    “Deferral Election” means a Director’s election to defer any Shares under the Plan. A Deferral Election shall be in writing and shall be delivered to the Plan Administrator or its designee in a form
      prescribed by the Plan Administrator.

     

    “Deferred Share” means a Director’s right to receive a Share upon the Director’s Separation from Service. A Director shall have no voting rights with respect to a Deferred Share nor any right to
      receive a dividend on a Deferred Share but may be eligible to receive additional Deferred Shares in connection with the crediting of dividend equivalent payments in accordance with Section 4.3(b) of this Plan. All Deferred Shares shall be issued
      under and subject to the Company Equity Plan. 

     

    “Director” means any individual serving on the Board who is not an employee of the Company or any of its subsidiaries or affiliates.

     

    “Effective Date” means October 25, 2018.

     

    “Evergreen Election” means a Deferral Election that will continue in effect for each subsequent Plan Year. An Evergreen Election may be terminated or modified with respect to a future Plan Year at
      any time before the election becomes irrevocable under Article IV (i.e., before 11:59:59 p.m. on December 31 immediately preceding January 1 of the Plan Year for which the Evergreen Election would otherwise apply). 

     

    “Fair Market Value” means: 

     

    (i)   with respect to the value of any Share, the meaning prescribed in the Company Equity Plan; 

     

    (ii)   with respect to any property other than cash or securities, the market value of such property determined by such methods or procedures as shall be established from time to
      time by the Committee; and 

     

    (iii)   with respect to cash, the value of such cash in United States dollars. 

     

    “Participant” means a Director who has completed and filed with the Plan Administrator a Deferral Election to participate under Section 4.1.

     

    “Plan Administrator” means person or persons designated to administer the Plan pursuant to Article VI.

     

    “Plan Year” means the calendar year.

     

    “Separates from Service” or “Separation from Service” means a Director ceasing to serve as a director of the Company. A Director incurs a Separation from Service upon the effective date of the
      director’s cessation as a director of the Company. Separation from Service shall have the same meaning as set forth under Code section 409A and any applicable regulations or Treasury Department guidance issued thereunder.

     

    “Share” means a share of the common stock of the Company, at such par value as may be established from time to time.

    
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    ARTICLE III

      PARTICIPATION, PLAN ACCOUNTS AND CREDITS

     

    3.1          Participation in the Plan. Subject to the rules relating to eligible timing to make Deferral
      Elections in accordance with Article IV below, any individual who is a Director may participate in the Plan.

     

    3.2          Establishment of Plan Accounts. The Company or its delegate shall establish an Account on behalf of
      each Participant in the Plan. The amounts specified in Sections 4.3 shall be credited to the Participant’s Account.

     

    3.3        Adjustments to Plan Account. If at any time the number of outstanding Shares shall be increased as
      the result of any stock dividend, subdivision, reclassification of shares or any other similar event, the number of Deferred Shares that are then credited to each Participant’s Account shall be increased in the same proportion as the outstanding
      number of Shares is increased, or if the number of outstanding Shares shall at any time be decreased as the result of any combination or reclassification of Shares, reverse stock split or any other similar event, the number of Deferred Shares that
      are then credited to each Participant’s Account shall be decreased in the same proportion as the outstanding number of Shares is decreased. If the Company shall at any time be consolidated with or merged into any other corporation and holders of the
      Shares receive common shares of the resulting or surviving corporation, the number of Participant’s Deferred Shares then credited to the Participant’s Account shall be multiplied by the number of common shares of stock given in exchange for a Share
      upon such consolidation or merger. If, in such a consolidation or merger, holders of the Shares shall receive any consideration other than common shares of the resulting or surviving corporation, the Board, in its sole discretion, shall determine the
      appropriate change in Participants’ Accounts.

     

    ARTICLE IV

      DEFERRAL ELECTIONS

     

    4.1          Deferral Election. A Director may elect to defer Shares by completing a Deferral Election and
      submitting it to the Plan Administrator during the Election Period. The Deferral Election must indicate:

     

    
      		(a)	
              That the Director desires to have all Shares earned during the upcoming Plan Year(s) converted into Deferred Shares under Section 4.3(a) and deferred under the Plan. Deferral Elections with respect to less than all Shares are not
                permitted; and

            

    

     

    
      		(b)	
              Whether the Director intends that his or her Deferral Election:

            

    

     

    
      		(i)	
              should continue for all future Plan Years until revoked (i.e., an Evergreen Election); or

            

    

     

    
      		(ii)	
              that the Deferral Election should be effective for the single upcoming Plan Year only and no additional Plan Year (i.e., not an Evergreen Election).

            

    

    
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    In the absence of a Deferral Election completed and filed by a Director with the Plan Administrator, any Shares will be paid directly to the Director in accordance with the Company’s Director
      remuneration policy. Any Evergreen Election may be revoked at any time prior to 11:59:59 p.m. on December 31 immediately preceding January 1 of the Plan Year for which the Evergreen Election would otherwise apply.

     

    
      	 	4.2	
              Timing of Deferral Election to Participate.

            

    

     

    
      	 	(a)	
              General Rule. A Deferral Election with respect to Shares to be earned during the upcoming Plan Year may be made at any time before 11:59:59 p.m.
                on December 31 immediately preceding January 1 of the Plan Year during which the Shares would otherwise be earned.

            

    

     

    
      	 	(b)	
              Election for New Directors. Notwithstanding Section 4.2(a), with respect to an individual who (i) first became a Director after October 25, 2018
                or (ii) on or after the Effective Date becomes a Director during a Plan Year (either by election or appointment as a Director), such Director may make and provide to the Plan Administrator a Deferral Election within thirty (30) days of the
                later of (x) the Effective Date or (y) the date the individual first becomes a Director (either by election or appointment as a Director), but any such election with respect to such first year of his or her directorship shall apply only
                with respect to Shares paid for services to be performed after such Deferral Election. For purposes of the preceding sentence, an individual who at one point was a Participant, ceased being a Participant, and again becomes a Director
                (either by election or appointment), shall be considered a new Director only if:

            

    

     

    
      		(A)	
              he or she was not eligible to participate in the Plan (or any other plan or arrangement required by Code section 409A to be aggregated with the Plan) at any time during the twenty-four (24)-month period ending on the date he or she again
                becomes a Director, or

            

    

     

    
      		(B)	
              he or she was paid all amounts previously due under the Plan (or any other plan or arrangement required by Code section 409A to be aggregated with the Plan) and, on and before the date of the last such payment, was not eligible to
                continue to participate in the Plan (and any other plan or arrangement required by Code section 409A to be aggregated with the Plan) for periods after such payment.

            

    

     

    
      	 	(c)	
              An election may not be revoked, changed or modified after the applicable filing deadline specified in Section 4.2(a) and 4.2(b), including with respect to Shares paid after the individual ceases to be a Director. As provided in a
                Deferral Election, a Deferral Election once made, either shall continue in effect with respect to subsequent Plan Years, until a new election is filed by the Participant in accordance with an election under Section 4.1(b)(i) or the existing
                Deferral Election shall terminate at the end of the Plan Year for which such election relates in accordance with an election under Section 4.1(b)(ii).

            

    

    
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    4.3          Mode of Deferral. All deferrals of a Participant’s Shares shall be in the form of a credit of
      Deferred Shares to the Participant’s Account. Credits shall be recorded in accounts established in Participants’ names on the books of the Company.

     

    
      		(a)	
              Conversion of Shares to Deferred Shares. If a Deferral Election has been made, all of a Director’s Shares otherwise payable during the Plan Year
                shall be converted into that same number of Deferred.

            

    

     

    
      		(b)	
              Conversion of Dividend Equivalents to Deferred Shares. As of the date any dividend is paid to shareholders of Shares, a Participant’s Account
                shall also be credited with an additional number of Deferred Shares (including fractions of a Share) equal to the quotient obtained by dividing (i) the total amount of cash dividends that otherwise would have been paid to the Director if
                all of the Deferred Shares (including fractions of a Deferred Share) were actual Shares by (ii) the Fair Market Value of a Share on the date such cash dividends would otherwise have been paid to the Director. In case of dividends paid in
                property, the dividend shall be deemed to be the Fair Market Value of the property at the time of distribution of the dividend, as determined by the Plan Administrator, and the Company shall credit the Participant’s Account with additional
                Deferred Shares in the same manner as set forth above in this Section 4.3(b).

            

    

     

    The Company shall not credit or deposit any actual Shares in an Account, but only make bookkeeping entries as if deposits had been made. If, for its own convenience, the Company should make deposits,
      any deposited sums shall remain a general, unrestricted asset of the Company and shall not be deemed as being held in trust, escrow or in any other fiduciary manner for the benefit of the Participant.

     

    ARTICLE V

      PLAN BENEFITS

     

    5.1          General Payment Upon Separation from Service or Change in Control. As soon as administratively
      practicable following the earlier of a Change in Control or a Director’s Separation from Service for any reason, the Participant’s Account shall be distributed to the Participant. Each whole Deferred Share shall be converted and paid as a Share and
      any fractional Deferred Share shall be rounded to the nearest whole Share. If a Director’s Separation from Service is on account of the Director’s death, the payment of Shares shall be made to the Participant’s Beneficiary.

     

    5.2          Permissible Acceleration of Benefits. Notwithstanding any other provision hereof to the contrary,
      the Plan Administrator, in its sole discretion, may allow for the acceleration of a payment as permitted under Treasury Regulations § 1.409A 3(j)(4) such as but not limited to (i) distributions pursuant to a domestic relations order (§ 1.409A
      3(j)(4)(ii)); (ii) distributions to comply with an ethics agreement with the Federal government (§ 1.409A 3(j)(4)(iii)); and (iii) distributions upon the inclusion of income under Code section 409A (§ 1.409A 3(j)(4)(vii)).

    
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    ARTICLE VI

      ADMINISTRATION

     

    The Board may designate an administrator of the Plan. Absent designation of an administrator by the Board, the Secretary of the Company shall administer the Plan. The administrator shall have
      discretionary authority with respect to the construction, application and interpretation of Plan provisions. The administrator may appoint a person or persons to assist the administrator in the day-to-day administration of the Plan. The Board, or a
      committee designated by the Board, may from time to time establish rules for the administration of the Plan that are not inconsistent with the provisions of the Plan. The Board may delegate all of its rights, obligations and duties under the Plan to
      a committee of the Board.

     

    ARTICLE VII

      MISCELLANEOUS PROVISIONS

     

    7.1          Amendment or Termination of Plan. The Plan may be amended or terminated by the Board at any time,
      provided that such amendment or termination shall not affect the Accounts in existence at the time of the amendment or termination, and in the event of a termination of the Plan, such Accounts shall continue and be distributed as if the Plan had not
      terminated. No amendment or termination of the Plan may accelerate the date of payment of a Participant’s Account as provided herein, except as permitted by law.

     

    7.2          Non-Alienability. The rights of a Participant to the payment of benefits as provided in the Plan may
      not be assigned, transferred, pledged or encumbered or be subject in any manner to alienation or anticipation. No Participant may borrow against the Participant’s interest in the Plan. No interest or amounts payable under the Plan may be subject in
      any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution or levy of any kind, whether voluntary or involuntary, including but not limited to, any liability which is for alimony or other
      payments for the support of a spouse or former spouse, or for any other relative of any Participant.

     

    7.3          Withholding for Taxes. The Company may withhold from a Participant’s compensation or Plan
      distributions any applicable employment taxes or any applicable federal, state, or local income taxes. Each Participant (or the Participant’s Beneficiary) is solely responsible for the payment of all federal, state, and local income and excise taxes
      resulting from the Participant’s participation in this Plan.

     

    7.4          Successors and Assigns. The provisions of this Plan are binding upon and shall inure to the benefit
      of the Company, its successors and assigns, and each Participant, such Participant’s Beneficiaries, heirs, and legal representatives.

     

    7.5          Governing Law. This Plan shall be subject to and construed in accordance with the laws of the State
      of Kansas, without reference to conflicts of laws rules.

     

    7.6          Funding. No promise hereunder shall be secured by any specific assets of the Company, nor shall any
      assets of the Company be designated as attributable or allocated to the satisfaction of such promises.

    
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    7.7          Termination. The Company reserves the right to terminate this Plan subject to the restrictions
      imposed by Section 409A and authoritative guidance thereunder.

     

    7.8          Accounts Taxable Under Code section 409A. The Plan is intended to constitute a plan of deferred
      compensation that meets the requirements for deferral of income taxation under Code section 409A. If any provision of this Plan shall be determined to contravene Code section 409A, the regulations promulgated thereunder, regulatory interpretations or
      announcements with respect to Code section 409A, any such provision shall be void and have no effect and may be amended by the Company without the consent of the Participant, for the purpose of Code section 409A compliance. Moreover, this Plan shall
      be interpreted at all times in such a manner that the terms and provisions of the Plan comply with Code section 409A, the regulations promulgated thereunder, and regulatory interpretations or announcements with respect to Code section 409A. Any
      payment hereunder, including any payment upon a Change in Control, may be made in accordance with the payment timing rules set forth in Treasury Regulation § 1.409A-3(d). The Company shall have the authority to void any Deferral Election hereunder if
      necessary to maintain the Plan in compliance with Code section 409A and, pursuant to its authority to interpret the Plan, may sever from the Plan or any Deferral Election any provision or exercise of a right that otherwise would result in a violation
      of Code section 409A.

     

    7.9          Relation to Company Equity Plan. All Deferred Shares and Shares issued pursuant to this Plan are
      subject to any applicable terms, conditions and restrictions of the Company Equity Plan, including, but not limited to, limitations on the number of Shares available for issuance under such plan and any securities registrations thereunder.

     

    
      7Exhibit 10.26

       

    

     

    CROSSFIRST BANKSHARES, INC. 

    STOCK APPRECIATION RIGHTS PLAN

    

    

    1. Establishment.  CrossFirst Bank, a Kansas state chartered bank, (the “Bank”) originally established the CrossPoint Bank 2007 Nonqualified Stock Option Plan (the “Original Plan”) for certain key employees of
      the Bank. In 2009, the Bank terminated sponsorship of the Original Plan. In 2010, CrossFirst Holdings, LLC (“Company”) adopted the 2010 Unit Option Plan (the “2010 Plan”) for certain eligible key employees of the Company and its subsidiaries. The
      Company has elected to terminate the 2010 Plan and replace it with the 2011 Unit Appreciation Rights Plan as amended, from time to time (the “Plan”).  Prior to May 1, 2015, all Participants in the Plan, exercised all their vested Unit Appreciation
      Right Units for cash settlements and agreed that their future Unit Appreciation Rights would be governed under the term of the Plan, as the same may be amended from time to time. On December 31, 2017 the company converted to CrossFirst Bankshares,
      Inc, a Kansas corporation which required the Plan to be renamed and change from units to shares.

    

    

    2. Purpose. The purpose of the Plan is to provide additional incentives to the existing officers and key employees of the Company and its subsidiaries, whose substantial contributions are essential to the
      continued long-term growth and success of the Company. These incentives will also provide the basis to attract and retain persons of outstanding character, competence, commitment and connection. The Plan will provide the ability to focus the efforts
      of the Participants of the Plan on the long-term value and profitability of the Company by compensating a Participant for the increase in the value of the Company.

    

    

    3. Definitions.

    

    

    “Appreciation Amount” means the increase in value of a Share of the Company from the date a SAR Share is granted to the date a SAR Share is exercised. This amount may be expressed as the excess of:

    (i)          The Fair Value of a Share at the Exercise Date of the

    SAR Share; 

    Minus,

    (ii)          The Grant Price at the Effective Date of Grant. 

     

    “Board” means the Board of Directors of the Company.

     

    “Change In Control” shall mean a change in ownership of a substantial portion of the Company’s assets, a change in the majority of the members of the Board of Directors without the approval of the
      incumbent Board of Directors or the closing of a merger or consolidation of the Company with any other company, which would result in the owners of the voting securities of the Company outstanding immediately prior thereto owning (either by remaining
      outstanding or by being converted into voting securities of the surviving entity) less than 50% of the combined voting power of the voting securities of the Company (or such surviving entity) outstanding immediately after such merger or
      consolidation.

    
      
        
 

    

    
    Notwithstanding the foregoing, for purposes of any amounts paid under this Agreement to Employee that is treated as nonqualified deferred compensation subject to Section 409A of the Internal Revenue
      Code (“Code”) , a Change in Control shall not occur unless such transaction or series of related transactions, constitutes a change in ownership of the Company, a change in effective control of the Company, a change in ownership of a substantial
      portion of the Company’s assets, each under Section 409A of the Code or otherwise constitutes a change on control within the meaning of Section 409A of the Code; provided, however, if the Company treats an event as a Change in Control
      that does not meet the requirements of Section 409A of the Code, such amounts shall be paid when it would otherwise have been paid but for the Change in Control.

    

     

    “Committee” means the Compensation Committee or such other committee established by the Board of Directors of the Company to oversee and interpret compensation issues of the Company.

    

    

    “Company” means CrossFirst Bankshares, Inc., or any company successor thereto by merger, consolidation, liquidation, or other reorganization which has made provisions for adoption of this Plan and the assumption of the
      Company’s obligation’s thereunder, as well as any subsidiary fifty- one percent (51%) or more of the outstanding shares or shares of which is owned by CrossFirst Bankshares, Inc.

    

    

    “Effective Date of Grant” means the date SAR Shares will become eligible to commence vesting as determined by the Committee.

    

    

    “Employee” means any person, including an officer of the Company (whether or not he/she is also a director thereof), who is employed by the Company or subsidiary, on a full-time basis, who is compensated for such
      employment by a regular salary, and who, in the opinion of the Committee, is one of the key personnel of the Company in a position to contribute materially to its continued growth and development and to its future financial success. Employee may also
      include any person who will be a prospective employee that will meet the above criteria. The term does not include persons who are retained by the Company as consultants only.

    

    

    “Employer(s)” shall mean the Company, the Bank and/or any of its affiliates (now in existence or hereafter formed or acquired) that have been designated by the Committee to participate in the Plan.

    

    

    “Exercise Date” means the earlier of

    (1)      a date selected by the Participant, or

    (2)      the Participant’s Termination Date, except as provided herein, or

    (3)      the fifteenth (15th) anniversary of the Effective Date of Grant, or such earlier date as is designated by the Committee.

     

    “Exercise Price” means the Fair Value of the Share at the Exercise Date.

    
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    “Fair Value” means the fair value of the Share determined in good faith by the Committee from time to time, not less frequently than annually. Such determination shall be in effect for all exercises of SAR Shares until
      the Committee makes a subsequent determination. The Committee may adopt such formulas as in its opinion shall reflect the true fair value of the Share from time to time, and may rely on such independent advice with respect to such fair market value
      as the Committee shall deem appropriate. However, in the event the Share are subject to public trade on a securities exchange, the fair market value of the Share will be used to determine the Fair Value by using the closing price on any national
      securities exchange or market on which such shares are traded on the date for which an exercise is made (or, if there were no reported trades on such date, then on the latest date within 60 days prior to the date for which a determination of such
      value is required under this Plan).

    

    

    “Grant Price” means the Fair Value of the Share at the Effective Date of Grant, or another value assigned the SAR Share by the Committee in its sole discretion, provided such other value is no less than the Fair Value.
    

    

    

    “Share” means a voting Share of CrossFirst Bankshares, Inc.

    

    

    “Participant” means an Employee who is awarded Stock Appreciation Rights Shares hereunder. 

     

    “Plan Year” means a calendar year.

     

    “Retirement” means an employee’s severance from the Company, in good standing, upon or after attainment of the age of 65 with no less than five (5) years of participation in the Plan and employment
      with the Company. The Committee may grant exceptions to these qualifications, on a case-by-case basis.

    

    

    “Stock Appreciation Right Share”, “SAR” or “Share” means the right granted by the Committee to a Participant to receive, an amount equal to the increase in the value of the Shares of the Company while such SAR is held
      by a Participant. Subsequent to May 1, 2015, such increase in value shall be paid to Participants in Shares.

    

    

    “Termination Date” shall mean the date of a Participant’s severance from employment with the Company by death, retirement, resignation, discharge, or otherwise.

    

    

    “Termination for Cause” shall mean a termination due to malfeasance, embezzlement or fraud, termination under the terms of any Employment Agreement between the Company and the Participant or such other act the
      Committee determines is equivalent to such acts.

    

    

    “Disability” means: (i) Participant’s physical or mental impairment falls within the definition of “disability” as such term or any comparable term is defined in any disability insurance policy covering Participant at
      the time of such disability. Participant covenants and agrees to submit to a reasonable physical examination by a licensed medical doctor acceptable to Company for the purpose of evaluating whether Participant is disabled. All determinations as to
      the date and extent of disability shall be made by the Committee, upon the basis of such evidence, as the Committee deems necessary and desirable.

    
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    4. Administration. The Plan shall be administered by the Committee. A quorum shall consist of not less than two members of the Committee and a majority of a quorum may authorize any action. No person, other than
      a member of the Committee, shall determine the key employees of the Company to whom SAR Shares will be granted, the number of SAR Shares granted to such employee, terms of such grant and the cancellation of SAR Shares pursuant to Paragraph 8.

    

    

    The interpretation and construction of any provision of the Plan by the Committee shall be final, unless otherwise determined by the Board. No Member of the Board or the Committee shall be liable for any action or
      determination made by such person in good faith.

    

    

    The Committee may, in its discretion, delegate its duties to an officer or employee, or a committee composed of officers or employees of the Company, but may not delegate its authority to construe and interpret this
      Plan, or to make interpretations or construction of any provision of the Plan.

    

    

    5. Award of Stock Appreciation Right Share. The Committee shall have the sole discretion to determine current employees and prospective employees eligible to be granted SAR Shares. The grant of a SAR Share may
      be made at any time by the Committee. The Company shall notify each Participant of his/her award of SAR Shares. The notice shall include the number of SAR Shares granted, the Grant Price and vesting schedule. Except as otherwise specifically provided
      in this Plan or by the Committee, SAR Shares granted pursuant to this Plan shall be subject to the following terms and conditions:

    

    

    (A)     The Grant Price shall be 100% of the Fair Value of the Share of the Company at the time of such grant, or another value assigned the SAR Share by the Committee in its sole discretion,
      provided such other value is no less than the Fair Value

    

    

    (B)     The Exercise Price shall be 100% of the Fair Value of the Share of the Company at the time of such exercise.

    

    

    (C)     The aggregate number of SAR Shares outstanding shall not exceed 10% of the total outstanding common shares of the Company, unless approved by the Board, in accordance with applicable
      regulations.

    

    

    (D)    Unless otherwise agreed to between Participant and the Company or otherwise specified or as provided below, SAR Shares awarded shall vest in equal amounts over a 7- year period commencing upon the first anniversary of the Effective Date of Grant and each succeeding anniversary thereafter.

    
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    (E)      The following table shall show the effect of certain events:

    

    

    	
            Event

          	
            Impact on Vesting

          	
            Impact on Exercise Period

          
	
            Employment Terminates upon Disability

          	
            All granted SAR Shares become immediately vested

          	
            Right to exercise all vested SAR Shares terminates on earlier of (1) 12 months from date of disability; or (2) Original SAR Exercise Date.

          
	
            Employment Terminates upon Retirement

          	
            Granted SAR Shares held for at least 12 full calendar months become immediately vested; SAR Shares held for less  than  12  full  calendar months are forfeited.

          	
            Right to exercise all vested SAR Shares terminates on earlier of (1) 12 months from date of retirement; or (2) Original SAR Exercise Date.

          
	
            Employment Terminates upon Death

          	
            All granted SAR Shares become immediately vested.

          	
            Right of Executor, Administrator of estate to exercise SARs terminates on earlier of (1) 12 months from date of death; or (2) Original SAR Exercise Date.

          
	
            Change In Control

          	
            All granted SAR Shares become immediately vested.

          	
            Original SAR Exercise Date.

          

    

    

    The effect on granted SAR Shares, of other events not contained herein, shall be determined by the Committee at such time as those events arise.

    

    

    6. Exercise of Stock Appreciation Right Share. The exercise of a SAR Share shall entitle the Participant to the excess of (i) the Exercise Price, over, (ii) the Grant Price for each SAR Share at the date of
      exercise. No SAR Share may be exercised until such Share has become vested.

    

    

    A Participant shall exercise his/her SAR Shares by giving written notice of such exercise to the Company’s Secretary or Chief Financial Officer. Such writing shall state the number of Shares the Participant is
      exercising and the date(s) such Shares were granted. The date upon which such written notice is received by the Company shall be the exercise date for the SAR Share. The Company shall provide a written statement for the Participant to utilize,
      however a Participant is not required to use such statement.

    

    

    During Participant’s lifetime, the SAR Share shall be exercisable only by the Participant or any duly authorized legal representative. The SAR Share may not be resold and shall not be transferrable other than by Will,
      by the law of descent and distribution or, with Company permission, to a revocable living trust established by a Participant. In the event of any levy or any attachment, execution or similar process upon the rights or interests under this Plan, then
      the Company may terminate the SAR Shares for such Participant by giving notice to the Participant, and the SAR Shares granted to such Participant shall thereupon become null and void.

    
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    7. Term of SAR Shares. SAR Shares shall be exercised on or before the Exercise Date.

    

    

    Payment of the Appreciation Amount shall be paid in full at the time of exercise subject to this paragraph. Subsequent to May 1, 2015, such increase in value shall be paid to Participants in Shares.

    

    

    Payment of the Appreciation Amount in Shares shall be determined by dividing the vested Appreciation Amount, which the Committee allows the Participant to take in Shares, divided by such Share’s Fair Value as of the
      date of the Exercise Date.

    

    

    The Company shall determine the amount of FICA and other employment taxes that the Employer must withhold for such Participant. The Employer may, at its discretion: i) withhold this amount from other compensation
      payable to such Participant; ii) net-out the Participant’s withholding liability against the number of Shares to be paid to Participant under this Section 7, at a per Share value equal to the then current determined Fair Value for such Shares, or
      iii) accept payment from the Participant for such withholding liability. If necessary, the Committee shall reduce the number of Shares to be paid to Participant in order to comply with this Section.

    

    

    All payments shall be reduced to satisfy FICA and other employment taxes, federal, State and local income tax liabilities that Employer must withhold for such Participant due by the reason of the exercise of the SAR
      Shares. The payment of the Appreciation Amount at the exercise of SAR Shares may be delayed until the Participant has made arrangements, satisfactory to the Company, that employment taxes have been provided for.

    

    

    In addition, the Employer shall withhold from any payments made to the Participant under this Plan all federal, state and local income, employment and other taxes required to be withheld in connection with such
      payments, in amounts and in a manner to be determined in the sole discretion of that Employer.

    

    

    Payment of a Participant’s Appreciation Amount shall be made to the Participant, or in the event of the Participant’s death after his/her Exercise Date, to the person or persons designated under the provisions of this
      paragraph. Each person upon becoming a Participant shall file with the Secretary or Chief Financial Officer of the Company a notice in writing, designating one or more Beneficiaries to whom payments otherwise due the Participant shall be made in the
      event of his/her death while in the employ of the Company or after severance. The Participant shall have the right to change the Beneficiary or Beneficiaries from time to time; provided, however, that any change shall not become effective until
      received in writing by the Secretary or Chief Financial Officer of the Company or their duly authorized designee. In the absence of a valid beneficiary designation, payment shall be made to the Participant’s estate.

    

    

    In the event a Participant has not elected to exercise vested SAR Shares on or before the Exercise Date, the vested SAR Shares shall automatically be exercised. The Company shall notify the Participant of such exercise
      during the calendar year prior to such automatic exercise. The Appreciation Amount due the Participant, shall be payable according to the Participant’s response to the notification of automatic exercise. In absence of a response, the Appreciation
      Amount shall be contributed to the Company’s existing deferred compensation plan for the benefit of such Participant.

    
      6

      
        
 

    

    8. Limitation of Rights Under the Plan. The Committee shall cancel all Shares, or any portion thereof, awarded and outstanding to a Participant whose employment was subject to a Termination for Cause, regardless
      of vested rights, subject to final approval by the Committee.

    

    

    In the event Participant is found within twelve (12) months following his/her Termination Date to have, during the term of his/her employment: a) willfully engaged in conduct which would have constituted grounds for
      Termination for Cause or immediate dismissal under the Company’s employment policies; b) willfully engaged in conduct which was demonstrably and materially injurious to the Company, monetarily or otherwise or c) committed a felony or other crime
      involving fraud, dishonesty or moral turpitude, Participant shall promptly return to the Company all benefits that Participant received during the last twelve (12) months of his/her employment from the exercise of SAR Shares.

    

    

    In the event Participant violates his/her non-solicitation provision from his/her Employment Agreement, Participant shall promptly return to the Company all benefits that Participant received during the last twelve
      (12) months of his/her employment from the exercise of SAR Shares.

    

    

    As illustrative of the limitations of rights under the Plan, but not an exhaustive listing, nothing in this Plan shall be construed to:

     

    (1)      Affect in any way the right of the Company to terminate the services of Participant; 

     

    (2)      Give a Participant any rights whatsoever with respect to the Shares of the Company; 

     

    (3)      Be evidence of any agreement or understanding, express or implied, that the Company will employ a Participant in any particular position or at any particular rate of
      remuneration or for any particular period of time.

    

    

    9.  Adjustment in number of Shares. In the event of any dividend of Shares or any split-up or combination of Shares, appropriate adjustment shall be made by the Committee to the aggregate number of Shares which
      may be awarded under this Plan and in the maximum number of Shares which may be awarded to any one Participant; provided, however, that the Committee shall not be required to establish any fractional Shares.

    

    

    10. Amendment or termination of Plan. The Board may amend or terminate this Plan at any time. Any amendment or termination of this Plan shall not affect the vested rights of Participants or their Beneficiaries
      to payment in accordance with the Plan at the time of such amendment or termination.

    

    

    11. Effective Date. The effective date of the Plan, as amended hereby, shall be May 1, 2015. The adoption of the Plan by the Board shall not be construed as amending, modifying or rescinding any previously
      approved incentive arrangement or as creating any limitations on the power of the Board or the Committee to adopt such other incentive arrangements as may be deemed desirable.

    
      7

      
        
 

    

    
    12. Governing Law. The Plan and all determinations made and actions taken pursuant thereto shall be governed by the laws of the State of Kansas and construed in accordance therewith.

    

    

    13. Agreement to Arbitrate Any Dispute, Claim or Grievance under the Plan. Any dispute, claim or grievance arising out of or relating to the interpretation or operation of this Plan shall be submitted to binding
      arbitration administered under the then existing rules of the American Arbitration Association. The parties agree to abide by the award as a final determination of such dispute, claim or grievance and institute no other action in court or otherwise,
      except to enforce the award. Judgment upon the award may be entered in any court having jurisdiction over the matter. Such arbitration shall take place at a convenient location within Johnson County, Kansas. Arbitration shall be instituted within 12
      months after a dispute, claim or grievance is filed under this agreement. Written demand for arbitration shall be delivered to the Secretary or Chief Financial Officer of the Company. The payment for arbitration shall be borne by the Participant and
      Company in an appropriate ratio to be determined in such arbitration.

    

    

    Approved by the Board of Directors of CrossFirst Holdings, LLC July 27, 2011. Amended by the Board of Directors of CrossFirst Holdings, LLC May 25, 2012, on July 25, 2013, April 23, 2015 and August 21, 2017.

  

   

    

  8

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