Document:

EXHIBIT 10.1

SEVERANCE AGREEMENT

             THIS SEVERANCE AGREEMENT (the "Agreement") is made and entered into this
_____ day of ___________ 200_ by and between ViewPoint Bank (the "Bank"), and
_______________ (the "Employee").

             WHEREAS, the Employee is serving as ______________________; 

             WHEREAS, the parties desire to enter into this Severance Agreement ("Agreement") setting
forth the terms and conditions of the severance relationship which may arise under certain defined
circumstances between the Bank and the Employee at some future date;

             WHEREAS, the Board of Directors of the Bank believes it is in the best interests of the Bank
to enter into this Agreement with the Employee in order to afford the Employee protection against
termination of employment due to a change in control of the Bank.  The Board of Directors believes
such protection is necessary and appropriate to induce the Employee to remain in his or her position;

             WHEREAS, this Agreement is not intended to apply to the severance relationship between
the Bank and the Employee where no change in control of the Bank has occurred, which situation
will continue to be governed by the Bank's employee manual;

             WHEREAS, the Board of Directors of the Bank has approved and authorized the execution
of this Agreement with the Employee to take effect as stated in Paragraph 1 hereof and such approval
is set forth in the minutes of the meeting of the Board of Directors;

             NOW THEREFORE, in consideration of the foregoing and of the respective covenants and
agreements of the parties herein, it is AGREED as follows:

             1.             Definitions.

             The term "Cause" shall mean the Employee's personal dishonesty, incompetence, willful
misconduct, breach of a fiduciary duty involving personal profit, intentional failure to perform stated
duties, willful violation of any law, rule, or regulation (other than traffic violations or similar
offenses) or final cease-and desist order, or material breach of any provision of this Agreement.

             The term "Involuntary Termination" shall mean (i) termination of employment of the
Employee without Cause such that the Employee is no longer employed by the Bank or any affiliate
thereof; (ii) a reduction in the amount of the Employee's base salary compared to the amount of
Employee's base salary as of the date of this Agreement;  (iii) a material adverse change in the
Employee's benefits, contingent benefits or vacation, other than as part of an overall program applied
uniformly and with equitable effect on all senior officers of the Bank;  (iv) a requirement that the
Employee perform services principally at a location more than 50 miles from Plano, Texas; or (v)
a material demotion of the Employee, including, but not limited to, a material diminution of the
Employee's title, duties or responsibilities.

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             The term "Change in Control" means any of the following events:

                          (a)             any third person, including a "group" as defined in Section 13(d)(3) of the
Securities Exchange Act of 1934, becomes the beneficial owner of shares of the Bank or the
Company with respect to which 25% or more of the total number of votes for the election of the
Board may be cast;

                          (b)             as a result of, or in connection with, any cash tender offer, merger or other
business combination, sale of assets or contested election, or combination of the foregoing, the
persons who were directors of the Bank or the Company shall cease to constitute a majority of the
Board of the Bank or the Company, respectively; or

                          (c)             the stockholders of the Company approve an agreement providing either for
a transaction in which the Company will cease to be an independent publicly owned corporation or
for a sale or other disposition of all or substantially all the assets of the Company.

             The term  "person" refers to an individual, corporation, company or other entity.

             The term "Holding Company" shall mean ViewPoint Financial Group (the "Company").

             2.             Change in Control.

             If there is a Change in Control of the Bank or of the Company during the term of this
Agreement, Employee shall be entitled to a severance payment in the event the Employee suffers an
Involuntary Termination in connection with or within 12 months after the Change in Control, unless
such termination is for Cause.  The amount of such severance payment shall equal ________ (__)
months of Employee's then current salary.

             3.             Reduction of Compensation and Benefits.

             Notwithstanding any other provision of this Agreement, if amounts and the value of benefits
under this Agreement, together with any other amounts and the value of benefits received or to be
received by the Employee in connection with a Change in Control would cause any amount to be
nondeductible by the Bank or any of its affiliates for federal income tax purposes pursuant to or by
reason of Section 280G of the Internal Revenue Code of 1986, as amended (the "Code"), then
benefits under this Agreement shall be reduced (not less than zero) to the extent necessary so as to
maximize amounts and the value of benefits to the Employee without causing any amount to become
nondeductible by the Bank or any of its affiliates pursuant to or by reason of such Section 280G.  The
Employee shall determine the allocation of such reduction among payments and benefits to the
Employee.

             4.             Notice of Involuntary Termination.

             In the event that the Employee determines in good faith that he or she has experienced an
Involuntary Termination, the Employee shall send a written notice to the Bank stating the
circumstances that constitute such Involuntary Termination and the date of such Involuntary
Termination.

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             5.             Term of this Agreement.

             The term of this Agreement shall be for a period of ___ months from the date of this
Agreement written above.

             6.             Attorneys Fees.

             In the event the Bank or any subsidiary thereof purports to terminate the employment of the
Employee for Cause, but it is determined by a court of competent jurisdiction or by an arbitrator
pursuant to Section 15 of this Agreement that Cause did not exist for such termination, or if in any
event it is determined by any such court or arbitrator that the Bank has failed to make timely payment
of any amounts owed to the Employee under this Agreement, the Employee shall be entitled to
reimbursement for all reasonable costs, including attorneys' fees, incurred in challenging such
termination or collecting such amounts.  Such reimbursement shall be in addition to all rights to
which the Employee is otherwise entitled under this Agreement.

             7.             Successors and Assigns.

             This Agreement is personal to each of the parties hereto, and neither party may assign or
delegate any of its rights or obligations hereunder without first obtaining the written consent of the
other party; provided, however, that the Bank shall require any successor or assign (whether direct
or indirect, by purchase, merger, consolidation or otherwise) by an assumption agreement in form
and substance satisfactory to the Employee, to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Bank, as applicable, would be
required to perform it if no such succession or assignment had taken place.

             This Agreement and all rights of the Employee hereunder shall inure to the benefit of and be
enforceable by the Employee's personal and legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees.

             8.             Regulatory Provisions.

                          (1)             Temporary Suspension or Prohibition.  If the Employee is suspended and/or
temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served
under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA"), 12 U.S.C.  §
1818(e)(3) and (g)(1), the Company's and the Bank's obligations under this Agreement shall be
suspended as of the date of service, unless stayed by appropriate proceedings.  If the charges in the
notice are dismissed, the Bank may in its discretion (i) pay the Employee all or part of the
compensation withheld while its obligations under this Agreement were suspended and (ii) reinstate
in whole or in part any of its obligations which were suspended.

                          (2)             Permanent Suspension or Prohibition.  If the Employee is removed and/or
permanently prohibited from participating in the conduct of the Bank's affairs by an order issued
under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. § 1818(e)(4) and (g)(1), all obligations of the
Company and the Bank under this Agreement shall terminate as of the effective date of the order,
but vested rights of the contracting parties shall not be affected.

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                          (3)             Default of the Bank.  If the Bank is in default (as defined in Section 3(x)(1)
of the FDIA), all obligations under this Agreement shall terminate as of the date of default, but this
provision shall not affect any vested rights of the contracting parties.

                          (4)             Termination by Regulators.  All obligations under this Agreement shall be
terminated, except to the extent determined that continuation of this Agreement is necessary for the
continued operation of the Bank:  (i) by the Director of the Office of Thrift Supervision (the
"Director") or his or her designee, at the time the Federal Deposit Insurance Corporation enters into
an agreement to provide assistance to or on behalf of the Bank under the authority contained in
Section 12(c) of the FDIA; or (ii) by the Director of his or her designee, at the time the Director or
his or her designee approves a supervisory merger to resolve problems related to operation of the
Bank or when the Bank is determined by the Director to be in an unsafe or unsound condition.  Any
rights of the parties that have already vested, however, shall not be affected by any such action.

                          (5)             Prohibited Payments.  Any payments made to the Employee pursuant to this
Agreement, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C.
1828(k) and any regulations promulgated thereunder.

             9.             Notices.

             For the purposes of this Agreement, notices and all other communications provided for in
this Agreement shall be in writing and shall be deemed to have been duly given when personally
delivered or sent by certified mail, return receipt requested, postage prepaid, to the Bank's Chairman
of the Board, or, if to the Employee, to such home or other address as the Employee has most
recently provided in writing to the Bank.

             10.             Amendments.

             No amendments or additions to this Agreement shall be binding unless in writing and signed
by both parties.

             11.             Headings.

             The headings used in this Agreement are included solely for convenience and shall not affect,
or be used in connection with, the interpretation of this Agreement.

             12.             Severability.

             The provisions of this Agreement shall be deemed severable and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the other provisions
hereof.

             13.             Governing Law.

             This Agreement shall be governed the laws of the State of Texas.

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             14.             Arbitration.

             Any dispute or controversy arising under or in connection with this Agreement, including but
not limited to whether the Employee was properly terminated for Cause, shall be settled exclusively
by arbitration in accordance with the rules of the American Arbitration Association then in effect.
Judgment may be entered on the arbitrator's award in any court having jurisdiction.

             IN WITNESS WHEREOF, the parties have executed this Agreement as of this day and year
first above written.

             THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH
MAY BE ENFORCED BY THE PARTIES.

VIEWPOINT BANK

_______________________________________

EMPLOYEE

_______________________________________

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End.EXHIBIT 10.2

EMPLOYMENT AGREEMENT entered into by and between VIEWPOINT BANK ("Bank")
and GAROLD ROBERT BASE ("Executive").

IT IS AGREED:

1.             EMPLOYMENT TERM:

             1.1             RETENTION OF EXECUTIVE -- Bank hires and retains Executive as President
and Chief Executive Officer of Bank.

             1.2             TERM AND EXTENSION -- The term of this Agreement shall be the period
commencing on the date (the "Commencement Date") on which Bank converts to stock form as
the subsidiary of ViewPoint Financial Group ("Company"), and ending on December 31, 2009,
subject to earlier termination as provided herein.  Beginning on January 1, 2007, and on each
January 1 thereafter during the term, the term shall be extended by one additional year such that
the term as so extended shall be a period of three years, provided that (1) Bank has not given
notice to Executive in writing at least 90 days prior to such January 1 that the term of this
Agreement shall not be extended further; and (2) at least 90 days prior to such January 1, the
Board of Directors of Bank explicitly reviews and approves the extension based upon a
performance review as described in Section 9 of this Agreement in which the Board has
determined that Executive's performance has been satisfactory or better.  As of immediately prior
to the Commencement Date, the employment Agreement between Bank and Executive then in
effect shall terminate.

2.             DUTIES AND RESPONSIBILITIES:

             2.1             GENERAL DUTIES AND RESPONSIBILITIES -- Executive shall perform the
duties and responsibilities of President and Chief Executive Officer of Bank in accordance with
applicable federal laws and regulations and the bylaws, rules and regulations of Bank and shall
provide executive management services for Bank. Executive, subject to the direction and
approval of the Board of Directors of Bank (the "Board of Directors"), shall formulate, approve,
supervise and direct the methods of keeping the records of Bank, statistical or otherwise, and
shall prepare or cause to be prepared all such reports as are required by law or regulation,
including, but not limited to statements and reports of the Board of Directors and the
stockholders of Bank and Company, and shall, from time to time, and at any time upon request,
make reports to the Board of Directors on the business affairs and financial condition of Bank.
This shall not be deemed to limit the powers of the Board of Directors of Bank to engage at any
time public accountants, counsel and consultants to examine and report concerning the accounts
and financial and other affairs of Bank, and for the purpose of making such examination such
public accountants, counsel and consultants shall have access to all records of Bank. Executive
shall perform such other duties and services as may be entrusted to Executive by Bank in
accordance with its bylaws and consistent with Executive's office and the terms of this
Agreement. Executive shall report and be responsible to the Board of Directors.

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             2.2             ADDITIONAL DUTIES AND RESPONSIBILITIES -- In addition, Executive
shall:

                          2.2.1             Have full and exclusive authority to hire, compensate and terminate Bank
staff within the framework of the approved budget for Bank.

                          2.2.2             In consultation with the Board of Directors, retain outside legal counsel
and other consultants for Bank, except to the extent that the Board of Directors of Bank,
Company or an authorized committee of the Board of either retains outside counsel or
consultants.

                          2.2.3             Be provided by Bank with a private office, secretarial assistance and such
other facilities and equipment, consistent with Executive's position and adequate for the
performance of Executive's duties under this agreement.

3.             COMPENSATION:

             3.1             BASE SALARY -- Executive's salary shall be $460,000 per year. The amount of
Executive's salary shall be reviewed by the Board of Directors annually and will be adjusted in
the sole discretion of the Board of Directors (as adjusted, "Base Salary").

             3.2             ANNUAL INCENTIVE -- It is the intent of Bank, subject to accomplishment of
pre-established performance goals approved by the Board of Directors, to provide Executive with
an annual incentive opportunity. During the term of this Agreement, the annual incentive award
may be up to a maximum of 45% of Executive's Base Salary (as defined above in this
Agreement), and shall be payable as soon as possible after the end of the fiscal year.

             3.3             EXECUTIVE BENEFITS ALLOWANCE -- In addition to and not in lieu of any
compensation due and payable to Executive hereunder, Bank shall provide Executive an
executive benefits allowance to cover benefits such as automobile and country club membership.
Executive's initial allowance shall be in the amount of $20,000 each year payable in 26 equal
installments of $769.23. This allowance may be increased in accordance with action of the Board
of Directors.

4.             OTHER ACTIVITIES -- Executive, during the term of this Agreement, except as
otherwise agreed to by Executive and the Board of Directors, shall not work with or accept or
receive any compensation or consideration from any other organization, firm, bank, savings
association, credit union, person, corporation, or otherwise, for services to be performed or
performed by Executive unless the work or services can be performed by Executive without
materially interfering with Executive's duties set forth in this Agreement and otherwise do not
represent a conflict of interest as set forth in Bank's employee handbook. However, Executive
may serve, with or without compensation, as a lecturer, consultant to others or as a director of a
non-banking related company, and engage in other activities of a short duration which do not
interfere with Executive's ability to perform the duties and responsibilities under this Agreement,
and otherwise do not represent a conflict of interest as set forth in Bank's employee handbook. In
all such cases, Executive shall inform the Bank of these activities for purposes of complying with
securities and regulatory disclosure requirements.

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5.             INSURANCE:

             5.1             TERM LIFE INSURANCE -- Bank shall provide and pay the premiums for a term
life insurance, convertible, and renewable, on the life of Executive at a face amount not less than
twice the amount of Executive's Base Salary. Executive shall have the right to designate the
beneficiary or beneficiaries of such term life insurance policy.

             5.2             DISABILITY -- Bank shall provide and pay the premium for a long-term
disability insurance policy in accordance with such coverage as is provided from time to time for
all employees of Bank.

             5.3             HOSPITAL, MEDICAL AND OTHER INSURANCE -- Bank shall provide and
pay the premium for hospitalization, major medical and other insurance for Executive and
members of Executive's immediate family during the term of this Agreement in accordance with
such coverage as is provided from time to time for all employees of Bank.

             5.4             ACCIDENTAL DEATH AND DISMEMBERMENT -- Bank shall provide and
pay the premium for accidental death or dismemberment insurance with 24-hour-a-day coverage
and Executive having the right to designate the beneficiary or beneficiaries, in accordance with
such coverage as is provided from time to time for all employees of Bank.

6.             RETIREMENT

             6.1             SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN -- During the term of
this Agreement, Executive shall participate in the Supplemental Executive Retirement Plan (the
"SERP") previously approved by the Board of Directors and any other nonqualified retirement
program hereafter established for the benefit of executives or key employees of Bank.  Nothing in
this Agreement shall be construed to modify, amend, or conflict with the terms and conditions of
the SERP. In the event of termination of employment, Executive's vested rights under the SERP
shall be governed by the SERP and shall not be affected by this Agreement.

             6.2             RETIREMENT PLANS -- In addition to the SERP provided for in Section 6.1,
Executive shall be entitled to participate in all plans relating to pension, thrift, profit-sharing,
group life insurance, medical and dental coverage, education, cash bonuses, and retirement or
other benefits or combinations thereof, in which Bank's full time employees generally participate
and in which Bank's executive officers participate.

7.             EXPENSE REIMBURSEMENT:

             7.1             GENERAL EXPENSES -- Bank shall pay or reimburse Executive for all
reasonable expenses incurred by Executive in the performance of the duties and responsibilities
under this Agreement, and in accordance with the policies of and budget approved by Bank.

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             7.2             PROFESSIONAL DUES, EXPENSES, AND EDUCATIONAL EXPENSES --
Executive shall be expected to and encouraged to continue Executive's education in areas and
general subject matter which can be beneficial and advantageous to the current and future
operation of Bank, at the expense of Bank. Included among such educational programs which are
deemed beneficial and advantageous to Bank (without limitation) are education and management
programs and chapter attendance and programs of trade associations and similar organizations of
banks and thrift institutions and conferences, conventions and educational and related programs
of such organizations and organizations of bank and thrift executives, and other educational and
related programs deemed by Bank to be of benefit to Bank.  Bank shall pay all annual
membership dues and fees and travel and related costs associated with Executive's participation
in such programs, including his spouse's travel and related costs when she accompanies him.

             7.3             CLUB MEMBERSHIP -- Bank shall pay the membership dues and related fees
and expenses for Executive's membership in an appropriate club or clubs to be selected by
Executive with the prior approval of the Board of Directors to be used by Executive for the
ordinary and necessary business purposes of Bank.

             7.4             SECURITY SYSTEM -- Bank will provide a security system for Executive's
home, to include cost of equipment, installation and monthly service.

8.             OTHER BENEFITS:

             8.1             VACATION AND LEAVE -- Executive shall be entitled to vacation and time off
as listed in the employee handbook. Such vacation and holiday leave days may be taken at the
discretion of Executive in consultation with the Chairman of the Board of Directors or as
otherwise agreed by Executive and Bank. Executive and Bank agree and acknowledge that in
addition to the benefits available under the employee handbook, Executive has accrued (90) days
unused vacation for which Executive will be paid upon termination of employment with Bank for
any reason, at the rate of Executive's then current Base Salary.

             8.2             MEDICAL EXAMINATION -- Once each year during the term of this
Agreement, Executive shall obtain a complete medical examination, the reasonable cost of which
shall be paid by Bank. The Chairman of the Board of Directors shall be advised in writing by the
physician of the continued fitness of Executive, and such report shall be confidential.

9.             EVALUATION -- No later than January 31 of each calendar year during the term of this
Agreement, Bank shall evaluate and assess the performance of Executive. Such evaluation shall
relate to the duties and responsibilities of Executive under this Agreement, and progress toward
established goals as agreed to by Executive and Board of Directors, and the working relationship
among Executive, the staff and the Board. The evaluation shall be conducted by the Board of
Directors, in executive session without Executive being present, and the Board or a director or
directors designated by the Board shall thereafter meet with Executive to discuss the evaluation
in accordance with procedures as may be agreed to by Executive and Bank. In the event that the
performance of Executive is deemed unsatisfactory in any respect, the Board of Directors shall
describe in writing, in reasonable detail, specific instances of unsatisfactory performance. The
evaluation shall include recommendations as to areas of improvement in all instances where
Bank deems performance to be unsatisfactory. A copy of the written evaluation shall be delivered

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to Executive. If Executive disagrees with such evaluation, Executive may respond in writing to
be delivered to the Chairman of the Board of Directors. All such writings shall be made a part of
Executive's confidential personnel file. Upon the conclusion of the evaluation, the Board of
Directors shall determine any increases in the compensation and benefits of Executive and
determine whether to extend the term of this Agreement as provided in Section 1.2 of this
Agreement.

10.             NONDISCLOSURE OF CONFIDENTIAL INFORMATION -- Executive shall not,
during the term of this Agreement, or any time thereafter, impart to anyone any confidential
information which Executive may acquire in the performance of Executive's duties under this
Agreement, except as permitted by Bank or under compulsion of law.

11.             INDEMNIFICATION -- Executive shall be entitled to indemnification as prescribed in 12
C.F.R. Section 545.121 (or its successor regulation).

12.             EFFECT OF AGREEMENT -- This Agreement shall be binding upon the parties and
their respective heirs, executors, administrators, successors and assigns. Executive shall not
assign any part of Executive's rights under this Agreement without the written consent of Bank.
In the event of a merger, transfer, consolidation, or reorganization involving Bank, this
Agreement shall continue in force and become an obligation of Bank's successor.

13.             AMENDMENT AND TERMINATION:

             13.1              MUTUAL AGREEMENT -- This Agreement may be altered, amended or
terminated at any time by the mutual written agreement of Executive and Bank.

             13.2             TERMINATION -- The Board of Directors may terminate Executive's
employment at any time, but, except in the case of termination for cause (as defined below),
termination of employment shall not prejudice Executive's right to compensation or other
benefits under this Agreement.  In the event that the Board of Directors terminates the
employment of Executive not for cause, Bank will pay the cash compensation and provide the
benefits specified as liquidated damages in Section 14.1 below.

                          For purposes of this Agreement, Executive's employment shall be deemed to have
been terminated by Bank if, in the absence of termination for cause or termination due to
disability pursuant to Section 13.2.4, he resigns following:

                          (i)             relocation of his principal workplace outside a radius of 50 miles from
Bank's main office location at the date of this Agreement;

                          (ii)             a reduction in Executive's responsibilities and authorities inconsistent with
the position of President and Chief Executive Officer of Bank;

                          (iii)             a demotion from the position of President and Chief Executive Officer; or

                          (iv)             a material reduction in Executive's compensation and benefits except as
part of an overall program applied to all members of Bank's senior management.

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                          13.2.1             In the event of termination of Executive's employment for cause, Bank
shall pay Executive his Base Salary through the date of termination, and Bank shall have no
further obligation to him under this Agreement.  For purposes of this Agreement 'termination for
cause' or 'termination of Executive's employment for cause' shall mean termination of the
employment of Executive because of his personal dishonesty, incompetence, willful misconduct,
breach of a fiduciary duty involving personal profit, intentional failure to perform stated duties,
willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or
final cease-and-desist order, or material breach of any provision of this Agreement.  Executive
shall not be deemed to have been terminated for cause unless and until there shall have been
delivered to him a copy of a resolution, duly adopted by the affirmative vote of not less than a
majority of the entire membership of the Board of Directors at a meeting of the Board called and
duly held for such purpose (after reasonable notice to Executive and an opportunity for him,
together with his counsel, to be heard before the Board), stating that in the good faith opinion of
the Board Executive has engaged in conduct described in the preceding sentence and specifying
the particulars thereof.

                          13.2.2             Executive may terminate his employment voluntarily at any time upon 90
days' written notice to Bank or such shorter period as may be agreed upon between Executive and
the Board of Directors.  In the event of such voluntary termination, Bank shall be obligated to
continue to pay him his Base Salary and benefits accrued only through the date of termination, at
the time such payments are due, and Bank shall have no further obligation to him under this
Agreement.

                          13.2.3             In the event of the death of Executive while employed under this
Agreement and prior to any termination of employment, his estate, or such person or persons as
he may have previously designated in writing, shall be entitled to receive from Bank, the
previously unpaid Base Salary and benefits of Executive accrued through the date of death and
any vested interests of Executive in any retirement or other benefit plans. 

                          13.2.4             If Executive becomes permanently disabled as defined in Bank's then
current disability plan under which he is covered in accordance with Section 5.2, Bank shall be
entitled to terminate this Agreement and his employment, but he shall be entitled to receive
benefits under such disability plan. 

                          13.2.5             If Executive is suspended and/or temporarily prohibited from participating
in the conduct of Bank's affairs by a notice served under Section 8(e)(3) or (g)(1) of the FDIA, 12
U.S.C. § 1818(e)(3) and (g)(1), Bank's obligations under this Agreement shall be suspended as of
the date of service, unless stayed by appropriate proceedings.  If the charges in the notice are
dismissed, Bank may in its discretion (i) pay Executive all or part of the compensation withheld
while its obligations under this Agreement were suspended and (ii) reinstate in whole or in part
any of its obligations which were suspended.

                          13.2.6             If Executive is removed and/or permanently prohibited from participating
in the conduct of Bank's affairs by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12
U.S.C. § 1818(e)(4) and (g)(1), all obligations of Bank under this Agreement shall terminate as
of the effective date of the order, but vested rights of the contracting parties shall not be affected.

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                          13.2.7             If Bank is in default (as defined in Section 3(x)(1) of the FDIA), all
obligations under this Agreement shall terminate as of the date of default, but this provision shall
not affect any vested rights of the contracting parties.

                          13.2.8             All obligations under this Agreement shall be terminated, except to the
extent determined that continuation of this Agreement is necessary for the continued operation of
Bank:  (1) by the Director of the Office of Thrift Supervision (the "Director") or his or her
designee, at the time the Federal Deposit Insurance Corporation enters into an agreement to
provide assistance to or on behalf of Bank under the authority contained in Section 13(c) of the
FDIA; or (2) by the Director or his or her designee, at the time the Director or his or her designee
approves a supervisory merger to resolve problems related to operation of Bank or when Bank is
determined by the Director to be in an unsafe or unsound condition.  Any rights of the parties that
have already vested, however, shall not be affected by any such action. Any payments made to
Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their
compliance with 12 U.S.C. § 1828(k) and any regulations promulgated thereunder.

14.             OBLIGATIONS UPON TERMINATION

             14.1             TERMINATION WITHOUT CAUSE --Subject to Section 14.2 and to
Executive's compliance with Section 14.3 and Section 15 of this Agreement in the event that
Executive's employment is terminated by Bank not for cause pursuant to Section 13.2, and not
due to his death, retirement or disability, and if Executive has offered to continue to provide
services on the terms contemplated by this Agreement and Bank has declined such offer:

                          (i)             During the Liquidated Damages Period (as defined below), Bank shall
make to Executive continued payments of Base Salary at the rate in effect as of the date of
termination of employment, when and as salary payments are made to executives in accordance
with Bank's payroll practices during the Liquidated Damages Period.  For purposes of this
Agreement, the term "Liquidated Damages Period" shall mean the portion of the term of this
Agreement that remains at the time of such termination of employment, provided that the
Liquidated Damages Period shall end upon the death of Executive if it occurs during such portion
of the term.

                          (ii)             During the Liquidated Damages Period, Bank shall provide continued
insurance of the types provided for in Sections 5.1 through 5.4 to the extent necessary to provide
Executive with coverage equivalent to the coverage to which he would have been entitled under
such Sections if he had continued to be employed under this Agreement during the Liquidated
Damages Period at the annual rate of Base Salary in effect at the date of termination of
employment, after taking into account the coverage provided by any subsequent employer.

                          (iii)             Commencing at the termination of the Liquidated Damages Period, Bank
shall provide to Executive benefits substantially equivalent to those he would have received
under Bank's Retiree Medical Benefit Program or a successor program in effect at such time if he
had retired from employment with Bank at such time.

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                          (iv)             During and after the Liquidated Damages Period, Bank shall provide to
Executive the benefits, if any, to which he is entitled as a former employee under employee
benefit plans and programs and compensation plans and programs maintained for the benefit of
Bank's officers and employees other than the program discussed in the preceding paragraph.

                          (v)             Except as provided in paragraph (vi) below, during the Liquidated
Damages Period, Bank shall pay to Executive in cash the amounts equal to the value of the
additional employer contributions to which he would have been entitled under any and all
qualified and non-qualified defined contribution plans maintained by Bank and covering him
immediately prior to termination of his employment if he were 100% vested thereunder and had
continued to be employed during the Liquidated Damages Period at the annual rate of Base
Salary in effect at the date of termination of employment and making the maximum amount of
employee contributions, if any, required or permitted under such plan or plans.

                          (vi)             During the Liquidated Damages Period, Bank shall pay to Executive the
amount Bank would have contributed to the SERP if he had continued to be employed during the
Liquidated Damages Period and his annual Compensation (as defined in the SERP) were the
same as the most recent amount of such annual Compensation for the most recently ended
calendar year as of immediately prior to the commencement of the Liquidated Damages Period.
Such payments shall be made when and as employer contributions would have been made under
the SERP.

                          Bank and Executive hereby stipulate that the damages which may be incurred by
Executive following termination of employment such that he is entitled to damages under this
Section 14.1 are not capable of accurate measurements as of the date this Agreement is entered
into and that the payments and benefits contemplated by this Section 14.1 constitute reasonable
liquidated damages under the circumstances and shall be payable without any requirement of
proof of actual damage but shall be subject to mitigation as provided in Section 14.2.  Bank and
Executive further agree that the payments and benefits due under this Section 14.1 are
conditioned on the receipt of Executive's resignation from any and all positions which he holds
as an employee of Bank or any of its subsidiaries or affiliates.

             14.2             MITIGATION -- In the event that Executive becomes entitled to liquidated
damages pursuant to Section 14.1 of this Agreement, Bank's obligations thereunder shall be
reduced by the amount of Executive's earned income (within the meaning of Section
911(d)(2)(A) of the Internal Revenue Code, earned from providing services other than to Bank,
its affiliates and subsidiaries, or any of their respective successors, during the Liquidated
Damages Period ("Earned Income").

                          Executive agrees that in the event he becomes entitled to liquidated damages
pursuant to Section 14.1 of this Agreement, throughout the Liquidated Damages Period, he shall
promptly inform Bank of the nature and amounts of Earned Income and shall provide such
documentation of such Earned Income as Bank may request.  In the event of changes to such
Earned Income from time to time, Executive shall inform Bank of such changes, in each case
within five days after the change occurs, and shall provide such documentation concerning the
change as Bank may request.  Executive shall reimburse to Bank, or Bank shall reduce,  the
amounts of liquidated damages paid or payable to him pursuant to Section 14.1, up to the amount

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of Earned Income as it is earned during the Liquidated Damages Period. Such reimbursement
shall be made when and as payments of such Earned Income are received by Executive or within
30 days thereafter.

             14.3             RELEASE OF CLAIMS -- No damages shall be due under Section 14.1 of this
Agreement unless Executive executes a release of claims against Bank which shall provide that
Executive waives, releases and covenants not to sue or otherwise institute legal or administrative
proceedings, or make any claim of any nature against Bank, its subsidiaries or affiliates,
successors, assigns, directors, officers, employees or agents with respect to any matter arising out
of or related to Executive's employment relationship with Bank and its subsidiaries or affiliates.

15.             NONCOMPETITION -- During the term of this Agreement and for a period of eighteen-
(18) months from or after the expiration or earlier termination of this Agreement, Executive
agrees that he will not, directly or indirectly, as employee, partner, individual proprietor, officer,
director, consultant or otherwise, participate in any enterprise (including, without limitation, any
financial institution) engaged in the delivery of financial services located within a 40 mile radius
of Bank corporate headquarters, which competes with Bank, its subsidiaries or its affiliates.

16.             SECTION 280G REDUCTION -- Notwithstanding any other provision of this
Agreement, if the value and amounts of benefits under this Agreement, together with any other
amounts and the value of benefits received or to be received by Executive in connection with a
change in control would cause any amount to be nondeductible for federal income tax purposes
pursuant to 26 U.S.C. Section 280G of the Code, then amounts and benefits under this
Agreement shall be reduced (not less than zero) to the extent necessary so as to maximize
amounts and the value of benefits to Executive without causing any amount to become
nondeductible pursuant to or by reason of such Section 280G.  Executive shall determine the
allocation of such reduction among payments and benefits to Executive.

17.             LEGAL FEES -- In the event of a dispute arising out of this Agreement, reasonable
attorneys fees and costs to Executive resulting from such dispute shall be paid by Bank only if
Executive prevails in such dispute.

18. OTHER PROVISIONS

             18.1             JOINT EFFECT OF AGREEMENT -- Nothing in this Agreement shall be
deemed to create a partnership or agency relationship between Bank and Executive to make
Executive jointly liable with Bank for any obligation arising out of the activities and services
contemplated by this Agreement.

             18.2             SECTION HEADINGS -- Section headings and numbers have been inserted for
convenience of reference only, and if there shall be any conflict between any such headings or
numbers and the text of this Agreement, the text shall control.

             18.3             WAIVER -- Waiver by either party of any term or condition of this Agreement or
any breach shall not constitute a waiver of any other term or condition or breach of this
Agreement.

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             18.4             BOND -- Bank may, at its option and expense, obtain a "faithful" performance
and fidelity bond on Executive.

             18.5             EXECUTION AND APPLICABLE LAW -- This Agreement has been executed in
the City of Plano, Collin County, Texas and shall be governed in accordance with the laws of the
State of Texas in every respect except to the extent that federal law controls.

             18.6             NOTICES -- Any notice of communication permitted or required by this
Agreement shall be in writing and shall become effective two days after the mailing thereof by
certified mail, return receipt requested, postage prepaid addressed:

                          18.6.1             If to Bank, to: 1309 West 15th Street, Plano, Texas 75075, or such address
as Bank may specify in writing delivered to Executive, with a copy to the general counsel for
Bank.

                          18.6.2             If to Executive, to 2100 Crown Knoll, Plano, Texas 75093, or such
address as Executive may specify in writing delivered to Bank.

             18.7             ENTIRE AGREEMENT -- This Agreement, insurance agreement, retirement
plans and supplementary employment agreements providing for deferred compensation contain
all of the terms agreed upon by the parties with respect to the subject matter of this Agreement
and supersede all prior agreements, arrangements and communications between the parties
concerning such subject matter, whether oral or written.

IN WITNESS WHEREOF, the parties to the Agreement have signed it on this the _______ day
of __________________________, 2006.

		VIEWPOINT BANK
	
	
	Attest ____________________

Sherrie Tawwater

Executive Assistant	By	______________________________

James McCarley

Chairman

Executive

______________________________

Garold R. Base

President and Chief Executive Officer

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End.

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