Document:

EXHIBIT 4.5

         SECOND AMENDMENT TO CULLEN/FROST BANKERS, INC. 1992 STOCK PLAN

         The Board of Directors of Cullen/Frost Bankers, Inc. (the "Company"),
pursuant to Section 9.5 of the Cullen/Frost Bankers, Inc. 1992 Stock Plan (the
"Plan"), hereby amends the Plan as described below; provided, however, that such
amendments shall become effective only after approval by the Company's
shareholders. The amendments are as follows:

The First Paragraph of Section 5.1 of the Plan shall be deleted and replaced
with the following:

5.1.     NUMBER OF SHARES AVAILABLE FOR GRANT. Subject to adjustment as provided
         in Section 5.2 herein, the number of Shares hereby reserved for
         issuance to Participants under the Plan shall be four million five
         hundred sixty thousand (4,560,000). In no event may greater than four
         hundred sixty-five thousand (465,000) shares be available for issuance
         with respect to grants of Restricted Stock under the Plan. The Board
         shall determine the appropriate methodology for calculating the number
         of shares issued pursuant to the Plan. Unless and until the Board
         determines that an Incentive granted to a Covered Employee shall not be
         designed to comply with the Performance-Based Exception, the following
         rules apply to grants of such Incentives under the Plan:

Section 5.1(d) shall be added to the Plan and shall read as follows:

         (d)  Restricted Stock Units: The maximum aggregate grant with respect
              to Incentives granted in the form of Restricted Stock Unit granted
              in any one fiscal year to any one Participant shall be one hundred
              fifty thousand (150,000) shares of Common Stock.

Section 6 of the Plan is deleted in its entirety and replaced with the
following:

SECTION 6. RESTRICTED STOCK AND RESTRICTED STOCK UNITS

6.1.     GRANT OF RESTRICTED STOCK OR RESTRICTED STOCK UNITS. The Committee may,
         in its discretion, grant Incentives to Participants from time to time
         in the form of Restricted Stock or Restricted Stock Units and shall
         determine the number of shares or units of Restricted Stock that will
         be granted to a Participant.

6.2.     RESTRICTED STOCK AGREEMENT. Each grant of shares or units of Restricted
         Stock shall be evidenced by a Restricted Stock Agreement and shall be
         subject to the following terms and conditions and such other terms and
         conditions as the Committee may prescribe.

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6.3.     RESTRICTION PERIOD. At the time of the grant of shares or units of
         Restricted Stock, the Committee shall select the Restriction Period to
         apply to the shares or units of Restricted Stock.

6.4.     NONTRANSFERABILITY OF RESTRICTED STOCK. Prior to the lapse of
         restrictions as provided in Section 6.5, shares or units of Restricted
         Stock may not be sold, exchanged, transferred, pledged, assigned, or
         otherwise alienated, hypothecated, whether voluntarily or
         involuntarily.

6.5.     REMOVAL OF RESTRICTIONS. Except as otherwise provided in Section 6.9,
         and subject to Section 6.6, shares or units of Restricted Stock covered
         by each Restricted Stock grant made under this Plan shall become freely
         transferable by the Participant after the expiration of the Restriction
         Period or upon satisfaction of other conditions as specified by the
         Committee in its sole discretion.

6.6.     OTHER RESTRICTIONS. The Company shall impose such other restrictions on
         any shares or units granted pursuant to this Plan as it may deem
         advisable including, without limitation, restrictions under applicable
         Federal laws, under the requirements of any stock exchange or
         interdealer quotation system upon which share or shares of the same
         class are then listed or quoted and under blue sky or state securities
         laws applicable to such shares. The Company may legend the certificates
         representing Restricted Stock to give appropriate notice of such
         restrictions.

6.7.     CERTIFICATE LEGEND. In addition to any legends placed on certificates
         pursuant to Section 6.6 hereof, each certificate representing shares of
         Restricted Stock granted pursuant to the Plan shall bear the following
         legend: The sale or other transfer of the shares of stock represented
         by this certificate, whether voluntary, involuntary, or by operation of
         law, is subject to certain restrictions on transfer set forth in the
         Cullen/Frost Bankers, Inc. 1992 Stock Plan, and a Restricted Stock
         Agreement dated            . A copy of the Plan, such rules, and the
         Restricted Stock Agreement may be obtained from the Secretary of
         Cullen/Frost Bankers, Inc.

6.8.     VOTING RIGHTS AND DIVIDENDS WITH RESPECT TO RESTRICTED STOCK. With
         respect to shares of Restricted Stock, prior to the lapse of
         restrictions under Section 6.5, each Participant shall generally have
         the rights and privileges of a shareholder, including the right to vote
         the shares and to receive dividends and other distributions made with
         respect to the shares; provided, however, that the shares of Restricted
         Stock shall be subject to all the terms, conditions, and restrictions
         of the Plan and the Restricted Stock Agreement, including, without
         limitation, the provisions of this Section 6. Holders of Restricted
         Stock Units shall have no rights as to

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         voting or dividends prior to the lapse of restrictions under Section
         6.5, except as provided in the Restricted Stock Agreement.

6.9.     CHANGE IN CONTROL. In the event of a Change in Control, the applicable
         Restriction Period with respect to all outstanding shares or units of
         Restricted Stock shall automatically terminate.

A New Section 7.3(a) shall be added to the Plan as follows:

         (a)  Repricing of Stock Options. The purchase price of Stock issued
              under each Stock Option shall not be repriced without prior
              shareholder approval.

A New Section 9.7 shall be added to the Plan as follows:

9.7.     LIMITED TRANSFERABILITY. Each Incentive, and each right under any
         Incentive, shall be exercisable only by the Participant during the
         Participant's lifetime, or, if permissible under applicable law, by the
         Participant's guardian or legal representative as determined by the
         Committee; provided, however, that Incentives under the Plan may be
         transferred to immediate family members or family trusts as determined
         by the Committee.EXHIBIT 4.6

             AMENDMENT TO CULLEN/FROST BANKERS, INC. 1992 STOCK PLAN

         The Board of Directors of Cullen/Frost Bankers, Inc., pursuant to
Section 9.5 of Cullen/Frost Bankers, Inc. 1992 Stock Plan (the "Plan"), hereby
amends the Plan as described below; provided, however, that such amendments
shall become effective only after approval by the Company's shareholders. The
amendments are as follows:

The following terms and accompanying definitions shall be added to the Plan
under Section 2.1:

         (r)  "Covered Employee" means a Participant who the Committee
              determines is likely to be, as of the date of vesting and/or
              payout of Incentive, as applicable, is one of the group of
              "covered employees," as defined in the regulations promulgated
              under Code Section 162(m), or any successor thereto.

         (s)  "Performance-Based Exception" means the performance-based
              exception from the tax deductibility limitations of Code Section
              162(m).

Section 5.1 of the Plan shall be deleted and replaced with the following:

5.1      NUMBER OF SHARES AVAILABLE FOR GRANT. Subject to adjustment as provided
         in Section 5.2 herein, the number of Shares hereby reserved for
         issuance to Participants under the Plan shall be two million eight
         hundred sixty thousand (2,860,000). In no event may greater than two
         hundred sixty-five thousand (265,000) shares be available for issuance
         with respect to grants of Restricted Stock under the Plan. The Board
         shall determine the appropriate methodology for calculating the number
         of Shares issued pursuant to the Plan. Unless and until the Board
         determines that an Incentive shall not be designed to comply with the
         Performance-Based Exception, the following rules shall apply to grants
         of such Incentives under the Plan:

         (a)  Stock Options: The maximum aggregate number of shares of Common
              Stock that may be granted in the form of Stock Options, pursuant
              to any Incentives granted in any one fiscal year to any one single
              Participant, shall be four hundred thousand (400,000).

         (b)  SARs: The maximum aggregate number of shares of Common Stock that
              may be granted in the form of Stock Appreciation Rights, pursuant
              to any Incentives granted in any one fiscal year to any one single
              Participant, shall be four hundred thousand (400,000).

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         (c)  Restricted Stock: The maximum aggregate grant with respect to
              Incentives granted in the form of Restricted Stock granted in any
              one fiscal year to any one participant shall be one hundred fifty
              thousand (150,000) shares of common stock.

Section 5.4 shall be added to the Plan and shall read as follows:

5.4      PERFORMANCE MEASURES. Unless and until the Committee proposes for
         shareholder vote and shareholders approve a change in the general
         performance measures set forth in this Section 5.4, the attainment of
         which may determine the degree of payout and/or vesting with respect to
         Incentives granted to Covered Employees which are designed to qualify
         for the Performance-Based Exception, the performance measure(s) to be
         used for purposes of such grants shall be chosen from among:

         (a)  Return on Equity;

         (b)  Earnings Per Share;

         (c)  Operating Cash Flow;

         (d)  Gross Revenue;

         (e)  Income Before Taxes;

         (f)  Net Income;

         (g)  Return on Revenue; and

         (h)  Stock Price Appreciation.

         The Committee shall have the discretion to adjust the determinations of
         the degree of attainment of the preestablished performance goals,
         provided, however, that Incentives which are designed to qualify for
         the Performance-Based Exception, and which are held by Covered
         Employees, may not be adjusted upward (the Committee shall retain the
         discretion to adjust such Incentives downward).

         In the event that applicable tax and/or securities laws change to
         permit Board discretion to alter the governing performance measures
         without obtaining shareholder approval of such changes, the Board shall
         have sole discretion to make such changes without obtaining shareholder
         approval. In addition, in the event that the Committee determines that
         it is advisable to grant Incentives which shall not qualify for the
         Performance-Based Exception, the Committee may make such grants without
         satisfying the requirements of Code Section 162(m).

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The second sentence of Section 7.2 of the Plan shall be deleted and replaced
with the following:

         Each Incentive Stock Option and all rights granted thereunder shall not
         be transferable other than by will or the laws of descent and
         distribution, and shall be exercisable during the optionee's lifetime
         only by the optionee or his guardian or legal representative. Except as
         may be otherwise provided by the Committee, each Nonqualified Stock
         Option and all rights granted thereunder shall not be transferable
         other than by will or the laws of descent and distribution, and shall
         be exercisable during the optionee's lifetime only by the optionee or
         his guardian or legal representative.

Section 9.7 shall be added to the Plan and shall read as follows:

9.7      POOLING OF INTERESTS ACCOUNTING. Notwithstanding any other provision of
         the Plan to the contrary, in the event that the consummation of a
         Change in Control is contingent on using the pooling of interests
         accounting methodology, the Board may take any action necessary to
         preserve the use of pooling of interests accounting.

Section 9.8 shall be added to the Plan and shall read as follows:

9.8      COMPLIANCE WITH CODE SECTION 162(m). At all times when Code Section
         162(m) is applicable, all Incentives granted under this Plan shall
         comply with the requirements of Code Section 162(m); provided, however,
         that in the event the Board determines that such compliance is not
         desired with respect to any Incentive or Incentives available for grant
         under the Plan, then compliance with Code Section 162(m) will not be
         required. In addition, in the event that changes are made to Code
         Section 162(m) to permit greater flexibility with respect to any
         Incentive or Incentives available under the Plan, the Board may make
         any adjustments it deems appropriate.

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