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                                                                  EXHIBIT 10(q)

                                Promissory Note

$100,000.00                                                 Date: August 1, 1999

     For Value Received Tom Prince (the "Employee") hereby promises to pay to
Stifel, Nicolaus & Company, Incorporated ("SN"), a Missouri Corporation, at its
office at One Financial Plaza, 501 North Broadway, St. Louis, Missouri 63102,
or assigns, the principal sum of $100,000 (the "Principal Amount") ON DEMAND
subject to the following conditions.

     1. INTEREST RATE.   The unpaid principal balance hereof payable annually
commencing on the last business day of the month following the date hereof, and
computed at a rate equal to the rate prescribed by and calculated from time to
time in accordance with Section 7872(f) of the Internal Revenue Code, and any
amendments thereto or substitutions therefor. Interest shall be calculated for
the actual number of days elapsed, using a daily rate determined by dividing
the annual rate by 365. Principal and interest on this Note shall be payable in
lawful money of the United States of America.

     2. FORGIVENESS OF PRINCIPAL AMOUNT.     Notwithstanding any other
provisions of this Note, SN shall forgive in equal installment(s) the Principal
Amount plus accrued interest on August 1 of years 2000, 2001, 2002, 2003, and
2004 if on such date all of the following conditions are met:

     (a)  the employee has, at all times since the above date of this Note,
          remained in the full-time employ of SN, and

     (b)  SN has not made demand hereunder.

In addition, SN shall forgive the remaining unpaid principal and accrued
interest on the Note (a) in the event Ronald J. Kruszewski ceases to be
employed by SN or (b) in the event SN determines not to continue its business
relationship with Employee within 30 days of August 1, 2001.

     If the Employee shall terminate his/her employment with SN for any reason
whatsoever, whether voluntarily or involuntarily, other than by reason of death
of employee, no part of the unpaid Principal Amount and accrued interest
thereon shall be forgiven. The amount of this Note to be forgiven each year is
not prorated. Thus, if the Employee leaves the employ of SN prior to the next
installment due date, no amount is forgiven for the partial year of employment
with SN.

     3. DEMAND AND CONFESSION OF JUDGMENT.   Stifel, at its sole discretion,
may declare all unpaid principal, accrued interest and other amounts due under
this Note immediately due and payable without presentment, demand, notice of
default or other notice of any kind, which the Employee hereby expressly
waives, in the event that the Employee's employment with SN is terminated,
whether voluntarily or involuntarily by the Employee, for any reason whatsoever
other than the death of the Employee or SN determining not to continue its
business relationship with Employee within 30 days of August 1, 2001. As such,
the Employee waives the issuing and
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service of process, admits to the maturity of this Note by acceleration or
otherwise, and confesses judgment against the Employee in favor of SN for the
unpaid Principal Amount, together with costs of suit and reasonable attorney
fees, (whether incurred by SN in-house legal staff or outside counsel), and to
release all errors and waive all right of appeal and stay of execution.

     In addition, SN, at its option and sole discretion, under the same terms
of this paragraph 4, may declare this Note immediately due and payable, without
presentment, demand, notice of default or other notice of any kind which the
Employee hereby waives, if one or more of, but not limited to, the following
events shall occur.

     a) the Employee's employment with SN is terminated by SN for any reason
whatsoever other than SN determining not to continue its business relationship
with Employee within 30 days of August 1, 2001.

     b) the Employee has not obtained and retained all licenses and
registrations from the National Association of Securities Dealers, Inc.,
securities exchanges, state securities commissions and other regulatory bodies
as SN shall determine is necessary or appropriate in order for the Employee to
conduct securities or commodities transactions or otherwise perform the
functions for which the Employee is employed; or

     c) at any time, in the reasonable opinion of SN, the financial
responsibility of the Employee has become impaired, such impairment to include,
without limiting the generality of the foregoing, the filing of a voluntary or
involuntary petition by or against the Employee under any provision of any
Federal or State bankruptcy, insolvency, or similar laws; the appointment of a
receiver to manage the Employee's property; an assignment of the benefits of
creditors; the entry of judgment or lien or issuance of a warrant or an order of
attachment or garnishment against the Employee or his/her property; or the
commencement of any proceeding or procedure for enforcement of a money judgment
against the Employee; or

     d) the Employee defaults in the timely payment of any amount due and
payable to SN pursuant to the terms of this Note, whether upon demand by SN at
any time or otherwise.

     4. INTEREST CHARGED IN THE EVENT OF DEFAULT IN TERMS OF PAYMENT. If this
Note becomes immediately due and payable pursuant to the foregoing paragraph
and the Employee defaults in the timely payment of any portion of the Principal
Amount or any accrued interest thereon, or any other amount which is due and
payable to SN pursuant to the terms of this Note, whether upon demand by SN, or
otherwise, the Employee shall pay interest thereon, to the extent permitted
under Missouri law, from the date such payment was due until paid in full.

     5. DEFAULT, ATTACHMENT, COLLECTION AND WAIVERS.   The Employee agrees to
pay any and all costs and expenses, including without limitation, reasonable
attorney's fees and disbursements, incurred by SN in connection with the
enforcement of any and all provisions of this Note and in regard to any
defenses to the Note or counterclaims brought in the action to enforce the Note.
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     The Employee hereby waives (1) all benefits of any law exempting his/her
property, including any accounts at SN, from attachment, garnishment, or
execution; and (2) trial by jury and the right to interpose any defense,
set-off or counterclaim of any nature or description in any arbitration arising
out of or relating to this Note in which SN is an adverse party. SN may offset
and satisfy any amount due and owing by SN to Employee including all assets in
any account maintained by Employee which is equal or less than any amount due
and owing by Employee to SN hereunder by offset against Employee's obligations
under this Note.

     6. EXTENSION OF WAIVERS. SN may grant extensions and/or renewals hereof at
its discretion, without notice and without releasing the liability of any party
hereto. However, no failure of SN to exercise any right, no partial exercise and
no delay in exercising any such right (including without limitation acceptance
by SN of any late payment or other default), or any other course of dealing
between the Employee and SN shall constitute a waiver by SN of its right to
exercise any of its options or any of its rights hereunder at any time.

   7. PAYMENTS AND WITHHOLDING TAXES. Interest shall be due and payable on the
Principal Amount unless otherwise provided above. Employee shall be responsible
for any and all taxes and other charges imposed upon SN by federal, state or
local governments with respect to such amount forgiven by Stifel for the
respective period and agrees that if employed by SN, that SN will withhold said
amounts. If Employee is no longer employed by SN, Employee shall reimburse SN
within 30 days of the date of notice from SN specifying the amounts of such
taxes and charges.

     SN will notify the Employee of the amount of Withholding Taxes and the
amount of payment to be deducted on each payday.

     Until any Principal Amount is forgiven, all amounts paid to SN by Employee
for taxes withheld on the forgiveness portion shall be applied as payments on
account of the Principal Amount. The payment to SN by Employee of any
Withholding Taxes on account shall not obligate SN to forgive all or any part
of the Principal Amount on any installment date unless and until all of the
conditions to the forgiveness of any Principal Amount are satisfied in full.

     8. ARBITRATION CLAUSE. SN and the Employee agree that any action
instituted as a result of any controversy arising out of this Note, or as a
result of differences in any section interpretation thereof, shall be brought
before the Arbitration facility of the National Association of Securities
Dealers or the New York Stock Exchange, whichever forum SN should choose.

     9. NOT AN EMPLOYMENT CONTRACT. The Employee expressly acknowledges that
this Note is not an employment contract or an agreement to employ him/her for a
specified period of time or a promise of continued employment with SN for any
period whatsoever.

     10. ASSIGNMENT. This Note may be assigned by SN and the benefits and
obligations thereof shall inure to SN's successors and assigns.

     11. TERMS AND CONDITIONS. This Note contains all of the terms of the
Agreement between the parties relating to the subject matter hereof and may
not be modified except by a

3

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writing signed by the party to be bound thereby.

     12. SEVERABILITY. If any provision of this Note is held to be illegal,
invalid or unenforceable under present or future laws effective during the term
hereof, such provision shall be fully severable and this Note shall be
construed and enforced as if such illegal, invalid or unenforceable provision
had never comprised a part hereof and the remaining provisions hereof shall
remain in full force and effect and shall not be affected by the illegal,
invalid or unenforceable provision by its severance herefrom. Any provision of
this Note that is inapplicable to an employee as a result of the fact that said
employee's position with SN is in a non-production capacity shall not effect
the balance of the Note.

     13. GOVERNING LAW. This Note shall be governed by, and construed in
accordance with the laws of the State of Missouri but without regard to the
choice of law principle thereof.

     14. HEADINGS. The headings contained in this Note are inserted for
convenience only and shall not affect the meaning or interpretation of this
Note.

     In Witness Whereof, the Employee acknowledges that this Note
becomes effective as of the date and year first written above.

Date:   August 9, 1999                     /s/ Thomas A. Prince
     --------------------                  ------------------------------
                                           Signature of Employee

                                           9 Par Drive
                                           ------------------------------
                                           Address

                                           Maurelle, AR 72113
                                           ------------------------------
                                           City, State, Zip Code

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                                For Internal Use

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Stifel, Nicolaus Authorization

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                                                                   EXHIBIT 10(r)

                    PROMISSORY NOTE      Date: 5 March 2002

     Tom Prince ("Borrower") hereby promises to pay to Stifel, Nicolaus & Co.,
Inc. ("Lender"), the principal amount of one hundred ten thousand dollars
($110,000.00), with interest at the rate of 3.0 percent per annum. The principal
and interest due hereunder shall be payable without recourse from annual bonuses
paid to borrower by lender in accordance with the following schedule:
                         2003 annual bonus -- $15,00.00
                         2004 annual bonus -- $20,00.00
                         2005 annual bonus -- $25,00.00
                         2006 annual bonus -- $30,00.00
                         2007 annual bonus -- balance
     All payments received by Lender shall be applied first to unpaid interest
hereon, and the remainder to principal. Interest shall be computed on the basis
of a year consisting of 360 days and paid for actual days elapsed.

     All required payments shall be made in immediately available funds in
lawful money of the United States of America at the office of Lender situated in
St. Louis, MO.

     Borrower has the right to prepay this Note in whole or in part at any time
without penalty or premium. So long as any amount remains outstanding hereunder
Borrower shall not be required, but may elect to do so, to participate in any
deferred compensation program of Lender or affiliates.

     NOTICE REQUIRED BY SECTION 432.045 R.S. MO.: ORAL AGREEMENTS OR COMMITMENTS
TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT
INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE. TO PROTECT
YOU (BORROWER) AND US (CREDITOR(S)) FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY
AGREEMENTS WE REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH
IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS
WE MAY LATER AGREE IN WRITING TO MODIFY IT.

     This Note shall be governed by and construed in accordance with the laws of
the State of Missouri.

                                                      BORROWER:

                                                         /s/ Thomas A. Prince
                                                      --------------------------

                                      -1-

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