Document:

Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered
into this 2nd day of November, 2006, by and between AMBASSADORS INTERNATIONAL, INC. (“Company”), a Delaware corporation, and JOSEPH J. UEBERROTH (“Executive”), with reference to the following facts: 
 A. Executive has been serving Company as Chairman, President and Chief Executive Officer in a satisfactory and capable manner. 
 B. Company has requested that Executive enter into an employment agreement with Company with respect to matters relating to continued employment with
Company, and Executive has agreed to do so, upon the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the terms
and conditions and the mutual agreements and covenants set forth herein, the parties hereto agree as follows: 
 1. SCOPE OF
EMPLOYMENT. 
 1.1 Capacity. Company hereby continues to employ Executive, and Executive hereby accepts
continued employment, as Chairman, President and Chief Executive Officer of Company. Executive shall report to the Board of Directors of Company (“Board”) and perform the services and duties customarily incident to such titles unless a
change is agreed to by both parties. 
 1.2 Devotion of Services. Executive shall devote his business time, ability and
attention to the business of Company during the Term of Employment (as defined below), except the Company acknowledges his outside business activities such as member of private equity or venture capital funds, as a member of public and private
boards, passive investments, charitable and non-profit enterprises and any other business investments which do not interfere with his duties hereunder and which are not competitive with Company’s activities. Executive shall perform and
discharge well and faithfully those duties assigned him by the Board. Executive shall perform his services under this Agreement primarily at Company’s offices in Newport Beach, or such other location as is acceptable to Executive. 

2. TERM OF EMPLOYMENT. The term of Executive’s employment under this Agreement shall commence as of the date first set forth above
and, unless sooner terminated pursuant to Section 4 of this Agreement, shall terminate upon the close of business twelve (12) months following the date that either party notifies the other in writing that the notifying party elects to
terminate such employment (“Term of Employment”). 

 3. COMPENSATION. 
 3.1 Salary and Bonus. In consideration of the services to be rendered by Executive hereunder including, without limitation, any
services rendered as an officer or director of Company and/or any subsidiary thereof, Company shall pay to Executive the following during the Term of Employment: 
 (a) A base salary in the amount of $375,000 per annum, which salary shall be reviewed no less frequent than annually by Company’s
Board or Compensation Committee. The Board or Compensation Committee may increase Executive’s base salary but, in no event, may Executive’s base salary be reduced during the Term of Employment unless agreed to by both parties. 

(b) Company intends to continue its annual cash incentive plan with respect to Executive; provided, however, the amount of the annual
cash incentive shall be at the discretion of Company’s Board or Compensation Committee. 
 (c) All payments to Executive
shall be subject to the applicable withholding requirements of all appropriate governmental authorities. 
 (d) Company
intends to continue its annual stock option and restricted stock grants, its Long Term Incentive (LTI) plan, with respect to Executive; provided, however, the number of options and/or restricted stock granted shall be at the discretion of
Company’s Board or such committee, but, in no event, may the Executive’s LTI be less 50% of his total annual compensation during the Term of Employment unless agreed to by both parties. 
 3.2 Other Benefits. During the Term of Employment, Executive shall be entitled to participate in all employee pension and welfare
benefit plans and programs made available to Company’s senior members of management, as such plans or programs may be in effect from time to time including, without limitation, pension, profit sharing, savings and other retirement plans or
programs, accidental death and dismemberment protection, and health and medical plans. 
 3.3 Expenses. Company will
advance to or reimburse Executive for all reasonable travel and entertainment required by Company and other reasonable expenses incurred by Executive in connection with the performance of his services under this Agreement in accordance with Company
policy as established from time to time. 
 3.4 Vacation. Executive shall be entitled to not less than twenty-five
(25) days of vacation during each fiscal year of Company, during which time Executive’s compensation shall be paid in full. Executive’s vacation allowance shall be applied and extended under the same terms and conditions as are
generally applicable to other senior members of Company’s management. 
  

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 4. TERMINATION OF EMPLOYMENT. 
 4.1 Termination by Company for Cause. Notwithstanding the provisions of Section 2 of this Agreement, Company may terminate
Executive’s employment at any time for Cause (as defined below) by delivering written notice to Executive, and such termination shall be effective upon the date such notice is deemed received by Executive or such later date if specified in the
notice. In the event that Company terminates Executive’s employment for Cause, then Executive shall only be entitled to the compensation, unpaid expenses, unpaid vacation days and other benefits provided for in Section 3 of this Agreement
through the date of such termination. As used herein, “Cause” shall mean any of the following events if agreed to in writing by at least 75% of the independent directors of the board: (a) Executive is convicted, or pleads guilty or
nolo contendre to, a felony or a crime involving moral turpitude; (b) Executive engages in gross negligence or gross or willful misconduct in connection with the performance of his responsibilities under this Agreement; (c) after written
notice to Executive, Executive repeatedly fails to comply materially with any material Company policy; or (d) Executive materially breaches any material term or provision of this Agreement and fails to cure such breach within thirty
(30) days after he receives written notice thereof from Company. 
 4.2 Termination by Executive Without Good
Reason. Notwithstanding the provisions of Section 2 of this Agreement, Executive may terminate his employment without Good Reason (as defined below) by delivering written notice to Company. In the event that Executive terminates his
employment without Good Reason and provides the Company at least 12 months notice, then Company shall pay to Executive all of the following upon the following terms and conditions: 
 (i) An amount equal to the projected cost of Executive’s medical insurance under COBRA for the eighteen (18) month period
immediately following the termination; 
 (ii) An amount equal to one (1) times the average annual base salary plus the
average annual bonus paid to Executive for the two (2) full fiscal years immediately preceding termination (in determining the annual bonuses, there shall be included the cash amounts as well as that value ascribed for financial accounting
purposes on the dates of the grants to any and all option and share grants give to Executive); 
 (iii) The payments provided
for in clauses (i) and (ii) of this Section 4.2 shall be paid in full on the effective date of the termination and all such payments shall be subject to the applicable withholding requirements of all appropriate governmental
authorities; and 
 (vi) Notwithstanding anything to the contrary contained herein, in the event that any payments and/or
other consideration to be received by Executive under this Section 4.2 and or other sections within this agreement are subject to the deduction limitations and tax imposed by Sections 280G and 4999 of the Internal Revenue Code of 1986, as
amended (“Code”), or to any similar tax imposed by state or local law, or to any interest or penalties with respect to such taxes (such taxes together with any such interest and penalties shall hereafter collectively be referred to as
“Excise Tax”), then the total amount of such payments and value of the other consideration shall be reduced, or refunded, as the case may be, by the minimum amount necessary so as to avoid the application of any Excise Tax. 
  

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 4.3 Termination by Executive With Good Reason; Termination by Company Without
Cause. Notwithstanding the provisions of Paragraph 2 of this Agreement, (i) Executive may terminate his employment with Good Reason (as defined below) by delivering written notice to Company, and such termination shall be effective thirty
(30) days after the date such notice is deemed received by Company, and (ii) Company may terminate Executive’s employment without Cause by delivering written notice to Executive and such termination shall be effective upon the date
that such notice is deemed received by Executive. In the event that Executive terminates his employment with Good Reason, or Company terminates Executive’s employment without Cause, then Company shall pay to Executive all of the following upon
the following terms and conditions: 
 (i) All of the unpaid compensation, unpaid expenses, unpaid vacation days, prorated
bonuses and other benefits provided for in Section 3 through the date of such termination; 
 (ii) An amount equal to the
projected cost of Executive’s medical insurance under COBRA for the eighteen (18) month period immediately following the termination; 
 (iii) An amount equal to two (2) times the average annual base salary plus the average annual bonus paid to Executive for the two (2) full fiscal years immediately preceding termination (in determining the
annual bonuses, there shall be included the cash amounts as well as that value ascribed for financial accounting purposes on the dates of the grants to any and all option and share grants give to Executive); 
 (iv) All of Executive’s unvested stock options and stock grants shall fully vest upon the date that the termination becomes
effective; 
 (v) The payments provided for in clauses (i), (ii) and (iii) of this Section 4.3 shall be paid in
full on the effective date of the termination and all such payments shall be subject to the applicable withholding requirements of all appropriate governmental authorities; and 
 (vi) Notwithstanding anything to the contrary contained herein, in the event that any payments and/or other consideration to be received
by Executive under this Section 4.3 and or other sections within this agreement are subject to the deduction limitations and tax imposed by Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended (“Code”), or to any
similar tax imposed by state or local law, or to any interest or penalties with respect to such taxes (such taxes together with any such interest and penalties shall hereafter collectively be referred to as “Excise Tax”), then the total
amount of such payments and value of the other consideration shall be reduced, or refunded, as the case may be, by the minimum amount necessary so as to avoid the application of any Excise Tax. 
  

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 As used herein, the term “Good Reason” shall mean any of the following events: 
 (a) Withdrawal by Company from Executive of any substantial part of his duties then being performed, or responsibility or authority then
being carried by him, or a material change in Executive’s reporting lines; 
 (b) Assignment by Company to Executive of
substantial additional duties or responsibilities which are inconsistent with the duties or responsibilities then being carried out by Executive; 
 (c) Material reduction in the level of Executive’s responsibility, authority, autonomy, title, compensation, executive perquisites, or other employee benefits; 
 (d) Failure to keep Executive in office as Chairman, President and Chief Executive Officer of Company; 
 (e) Company materially breaches any material term or provision of this Agreement and fails to cure such breach within thirty
(30) days after it receives written notice thereof from Executive; 
 (f) Fraud on the part of Company; 
 (g) Discontinuance of the active operation of business of Company; or 
 (h) Change in Control (as defined below) 
 (i) Relocation of office more than 25 miles from Newport Beach 
 4.4 Death or Permanent
Disability. Executive’s employment shall terminate immediately upon the date of Executive’s death. In the event that Executive becomes physically or mentally disabled so as to become unable for more than one hundred eighty
(180) days in the aggregate in any twelve (12) month period to perform his duties on a full-time basis with reasonable accommodations, Company may, at its sole discretion, terminate Executive’s employment. Upon the date of
Executive’s death (if during the term of his employment) or upon Company’s termination of Executive’s employment due to a disability as provided above, then: (i) Executive shall be entitled to all of the unpaid compensation,
unpaid expenses, unpaid vacation days, prorated bonuses and other benefits provided for in Paragraph 3 through the date of Executive’s death or termination for disability; and (ii) all of Executive’s unvested stock options and stock
grants in Company shall fully vest on such date. 
 4.5 Application of Section 409A. To the extent applicable, it
is intended that this Agreement comply with the provisions of Section 409A of the Code, and shall be interpreted in accordance therewith. This Agreement shall be administered in a manner consistent with this intent, and any provision that would
cause this Agreement to fail to satisfy Section 409A of the Code shall have no force and effect until amended by the parties to comply with Section 409A (which amendment may be retroactive to the extent permitted by Section 409A).
Notwithstanding the foregoing, if Executive is a “specified employee” (as defined under Section 409A) and, to the extent that any payment or portion of a payment under Paragraph 4 of this Agreement is determined by Company to
constitute a “deferral of compensation” under Section 409A to which the “short-term deferral” exception does not apply, then such payment or 

  

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portion of a payment shall be paid to Executive by Company in cash and in full, as soon as practicable following six (6) months after Executive’s
“separation from service” with Company (as such phrase is defined in Section 409A). If Executive dies before such payment or portion of a payment has been paid, such unpaid amounts shall be paid as soon as practicable following
Executive’s death to the personal representative of Executive’s estate. 
 5. CHANGE OF CONTROL In the event of a
Change in Control, all of Executive’s unvested stock options and stock grants shall fully vest. For purposes of this Agreement, “Change in Control” means the occurrence of any of the following events: (i) any sale, lease,
license, exchange or other transfer to a party not affiliated with Company (in one transaction or a series of related transactions) of all, or substantially all, of the business and/or assets of Company; (ii) a merger or consolidation of
Company and Company is not the surviving entity; (iii) a reorganization of the legal entities or liquidation of Company; or (iv) a merger, consolidation, tender offer or any other transaction involving Company if the equity holders of
Company immediately before such merger, consolidation, tender offer or other transaction do not own, directly or indirectly, immediately following such merger, consolidation, tender offer or other transaction, more than fifty percent (50%) of
the combined voting power of the outstanding voting securities of the entity resulting from such merger, consolidation, tender offer or other transaction; or (v) a material change of the board; 3 directors elected to the board in a 15 month
period that are not proposed by the Company. 
 6. CONFIDENTIALITY AND DISPARAGEMENT 
 6.1 Confidentiality of Information. Executive acknowledges and agrees that he has been and shall be exposed to Company’s
Confidential Information and Trade Secrets. Executive agrees to keep all such information strictly confidential at all times. Except as required by Executive’s duties for Company or by virtue of a subpoena or other court order applicable to
Executive, Executive agrees that, both during and after the Term of Employment, not to make, use or disclose any Confidential Information or Trade Secrets to any person, company, firm, organization or other entity, or encourage any such person,
company, firm, organization or other entity to make use of such Confidential Information or Trade Secrets. 
 6.2
Disparaging Statements. Both the Company and the Executive agree that neither party will make any disparaging comments about the Company, Executive, or any related Parties to any persons inside or outside the Company. 
 7. GENERAL 
 7.1 Entire Agreement. This Agreement contains the entire under-standing between the parties hereto with respect to the subject matter herein and supersedes all other oral and written agreements or understandings that may exist
between them concerning the subject matter herein. 
 7.2 Amendment. This Agreement may not be modified, amended,
altered or supplemented except by written agreement between Executive and Company. 
 7.3 Counterparts; Facsimile
Signature. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. This Agreement may be executed and delivered by
facsimile signature. 
  

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 7.4 Jurisdiction. Each party hereby consents to the exclusive jurisdiction of the
state and federal courts sitting in Orange County, California, in any action on a claim arising out of, under or in connection with this Agreement or the transactions contemplated by this Agreement. Each party further agrees that personal
jurisdiction over him or it may be effected by service of process by registered or certified mail addressed as provided in Section 9.9 herein, and that when so made shall be as if served upon him or it personally within the State of California.

 7.5 Expenses. In the event an action at law or in equity is required to enforce or interpret the terms and
conditions of this Agreement, the prevailing party shall be entitled to reasonable attorney’s fees and costs in addition to any other relief to which that party may be entitled. 
 7.6 Interpretation. The headings herein are inserted only as a matter of convenience and reference, and in no way define, limit or
describe the scope of this Agreement or the intent of any provisions thereof. No provision of this document is to be interpreted for or against any party because that party or party’s legal representative drafted it. 
 7.7 Successors and Assigns. This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their heirs,
successors, assigns and personal representatives. As used herein, the successors of Company shall include, but not be limited to, any successor by way of merger, consolidation, sale of all or substantially all of its assets or similar
reorganization. In no event may Executive assign any rights or duties under this Agreement. 
 7.8 Controlling Law;
Severability. The validity and construction of this Agreement or of any of its provisions shall be determined under the laws of the State of California. Should any provision of this Agreement be invalid either due to the duration thereof or the
scope of the prohibited activity, such provision shall be limited by the court to the extent necessary to make it enforceable and, if invalid for any other reason, such invalidity or unenforceability shall not affect or limit the validity and
enforceability of the other provisions hereof. 
 7.9 Notices. Any notice required or permitted to be given under this
Agreement shall be sufficient if in writing and if personally received by the party to whom it is sent or delivered, or if sent by registered or certified mail, postage prepaid, to Executive’s residence in the case of notice to Executive, or to
its principal office if to Company. A notice is deemed received or delivered on the earlier of the day received or three (3) days after being sent by registered or certified mail in the manner described in this Section. 
 7.10 Waiver of Breach. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be
construed as a waiver of any subsequent breach. 
  

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 7.11 Survival. Notwithstanding anything to the contrary contained in this
Agreement, the rights and obligations of each party under Section 4 and 6 shall survive the termination of Executive’s employment with Company. 
 7.12 Key Man Life Insurance. At any time during the Term of Employment, Company may, but shall not be obligated to, take out and maintain, at Company’s sole cost and expense, one or more insurance policies
on the life of Executive, with Company being the sole owner and sole beneficiary. Company shall have the right, at any time and from time to time during the Term of Employment, to increase or decrease the amount(s) of such insurance. Executive
agrees to cooperate with Company in connection with such policies, including but not limited to the taking of medical examinations. 
 IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 
  

			
	AMBASSADORS INTERNATIONAL, INC.
		
	By:	 	/s/ Brian Schaefgen
		 	Brian Schaefgen
		 	Chief Financial Officer
		
	By:	 	/s/ Richard D. C. Whilden
		 	Richard D. C. Whilden
		 	Chairman of Compensation Committee

  

	
	
	/s/ Joseph J. Ueberroth
	JOSEPH J. UEBERROTH

  

 8Employment Agreement with L. Don Stricklin

 Exhibit 10.1 
 

 
 FORM OF EMPLOYMENT AGREEMENT 
 This AGREEMENT is made this              day of
                    , 200     (the “Agreement”) by and among PROSPERITY BANCSHARES, INC., a Texas
corporation (“Prosperity”), PROSPERITY BANK, a Texas banking association (the “Employer”), and L. DON STRICKLIN, an individual who resides at 211 Rolling Hill Drive, La Grange, Texas 78945 (the “Employee”). 

ARTICLE I 
 TERM OF EMPLOYMENT

 Employer hereby employs Employee and Employee hereby accepts employment with Employer for a period of THREE (3) years (the
“Initial Term”) beginning on the Effective Time (as that term is defined in that certain Agreement and Plan of Reorganization dated as of July 18, 2006 (the “Merger Agreement”) by and among Prosperity and Texas United
Bancshares, Inc. (“Texas United”)) (referred to herein as the Effective Date); provided, however, that this Agreement may be terminated earlier as hereinafter provided. Following the Initial Term, Employee’s employment shall continue
by automatic, successive, one-month “evergreen” renewals (each such successive renewal period together with the Initial Term, the “Term”), unless either party declines to renew. A party declining to renew must provide to the
other party written notice of the non-renewal at least fourteen (14) calendar days prior to the end of the then-current term. 
 ARTICLE II 
 DUTIES OF EMPLOYEE 
 2.1 Primary Duties. Employee is hereby employed by Employer as Vice Chairman and Executive Vice President of Prosperity and Vice Chairman of Prosperity Bank. Employee shall have such responsibilities,
duties and authority customarily accorded to and expected of a banking officer holding such positions and shall perform such other work as may be assigned to him subject to the instructions, directions, and control of Employer, which shall be
consistent with the type of nature of work normally performed by banking officers. 
 2.2 Location. Employee shall work in La
Grange, Texas and shall be furnished with an office and other business facilities and services sufficient to carry out his duties of office. 
  

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 2.3 Changes of Duties or Location-Mutual Consent. The duties and title of Employee and the
location at which Employee shall work may be changed from time to time by the mutual consent of Employer and Employee without resulting in a rescission of this Agreement. Notwithstanding any such change, the employment of Employee shall be construed
as continuing under this Agreement as modified. 
 ARTICLE III 
 ENGAGING IN OTHER EMPLOYMENT 
 During the term of this Agreement, Employee shall
devote all of his entire productive time, ability, and attention to the business of Employer during Employer’s normal business hours. During the term of this Agreement and during any non-competition period described in Article VI hereof,
Employee shall not directly or indirectly render any services of a business, commercial, or professional nature relating to banking or financial matters to any other person or organization, whether for compensation or otherwise, without prior
written consent of Employer. 
 ARTICLE IV 
 COMPENSATION 
 4.1 Base Salary. As compensation for employment services rendered under
this Agreement, Employee shall be entitled to receive from Employer an annual salary (“Base Salary”) of $400,000, paid semi-monthly and prorated for any partial employment period during the Term of this Agreement. The Base Salary shall be
subject to review in accordance with the then existing procedures of Employer but may not be lowered without Employee’s consent. 
 4.2
Other Compensation. Employee shall be eligible to participate in the Prosperity Bank Bonus Plan. Additionally, Employee shall be entitled to participate in stock based incentive compensation programs administered by the Board of
Directors of Prosperity Bancshares, Inc. pursuant to the plans then in effect. 
 ARTICLE V 
 REIMBURSEMENT OF EMPLOYEE BUSINESS EXPENSES AND 
 PARTICIPATION IN EMPLOYER BENEFIT PLANS 
 5.1 Out of Pocket Expenses. Employee is authorized to incur
reasonable business expenses for promoting the business of Employer, including expenditures for entertainment, meals and travel, including, without limitation, trade association convention attendance, country club dues, and other similar business
expenses. During the term of Employee’s employment with Employer, Employer will reimburse Employee from time to time for all such business expenses provided that Employee presents Employer with appropriate documentation of such expenditures in
accordance with Employer’s established procedures relating to such reimbursements. During the term of Employee’s employment with Employer, Employer will reimburse Employee for Employee’s monthly membership dues, but not initiation or
similar fees, at a country club or similar facility selected by Employee and approved by Employer. 
  

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 5.2 Participation in Employer Benefit Plans. Until the termination of Employee’s
employment, Employee will be eligible to participate in all employee benefit plans generally available to the officers and employees of Employer and in accordance with the terms of such plans. 
 5.3 Automobile. During the term of Employee’s employment with Employer, Employer shall provide Employee with an automobile.

 5.4 Cell Phone. During the term of Employee’s employment with Employer, Employer shall provide Employee with a cellular
phone and phone service. 
 ARTICLE VI 
 NON-DISCLOSURE, NON-COMPETITION AND NON-SOLICITATION COVENANT 
 6.1 Non-Disclosure
Obligations. 
  

	 	a)	“Confidential Information” means and includes Employer and Texas United’s confidential and/or proprietary information and/or trade secrets, including those obtained
by the acquisition of State Bank, Gateway National Bank, GNB Financial, n.a. and Northwest Bank, that have been and/or will be developed or used and that cannot be obtained readily by third parties from outside sources. Confidential Information
includes, but is not limited to, the following: information regarding past, current and prospective customers and investors and business affiliates, employees, contractors, and the industry not generally known to the public; strategies, methods,
books, records, and documents; technical information concerning products, equipment, services, and processes; procurement procedures, pricing, and pricing techniques; including contact names, services provided, pricing, type and amount of services
used, financial data; pricing strategies and price curves; positions; plans or strategies for expansion or acquisitions; budgets; research; financial and sales data; trading methodologies and terms; communications information; evaluations, opinions
and interpretations of information and data; marketing and merchandising techniques; electronic databases; models; specifications; computer programs; contracts; bids or proposals; technologies and methods; training methods and processes;
organizational structure; personnel information; payments or rates paid to consultants or other service providers; and other such confidential or proprietary information. Employee acknowledges that Employer’s business is highly competitive,
that this Confidential Information constitutes a valuable, special and unique asset used by Employer in its business, and that protection of such Confidential Information against unauthorized disclosure and use is of critical importance to Employer.

  

	 	b)	 Employee agrees that Employee will not, at any time during his employment with Employer or after the termination of such employment with Employer for any reason,
make any unauthorized disclosure, directly or indirectly, of 

  

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any Confidential Information of Employer, or third parties, or make any use thereof, directly or indirectly, except in working for Employer. Employee also
agrees that Employee shall deliver promptly to Employer upon the termination of employment or at any other time at Employer’s reasonable request, without retaining any copies, all documents and other material in Employee’s possession
relating, directly or indirectly, to any Confidential Information or other information of Employer, or Confidential Information or other information regarding third parties, learned as an employee of Employer. 
 6.2 Non-Competition Obligations. Immediately upon the Effective Date of this Agreement, Employer shall provide Employee with Confidential
Information relating to Employer’s business and specialized training regarding Employer’s methodologies and business strategies, which will enable Employee to perform his job for Employer. Employee also will have immediate access to, or
knowledge of, Confidential Information of third parties, such as actual and potential customers, suppliers, partners, joint ventures, investors, financing sources, etc., of Employer. In order to protect the Confidential Information and in order to
enforce Employee’s agreement not to disclose Confidential Information, Employer and Employee agree to the non-competition provisions set forth in this Article VI. 
 6.3 Employee Obligations. Employee agrees that, for the period (the “Non-Competition Period”) beginning on the Effective Date of this Agreement and for 36 months thereafter, Employee will not,
except as an employee of Employer, in any capacity for Employee or others, directly or indirectly: 
  

	 	a)	compete or engage, anywhere in the geographic area comprised of the fifty (50) mile radius surrounding any Prosperity banking center, or any other banking center operated or
owned directly or indirectly by Prosperity (the “Market Area”), in a business similar to that of Employer, or compete or engage in that type of business which Employer has plans to engage in, or any business which Employer or Texas United
has engaged in during the preceding twelve (12) month period if within the twenty-four (24) months before the termination of Employee’s employment, Employee had access or potential access to Confidential Information regarding the
proposed plans or the business in which Employer engaged or planned to engage; or 

  

	 	b)	take any action to invest in, own, manage, operate, control, participate in, be employed or engaged by or be connected in any manner with any partnership, corporation or other
business or entity engaging in a business similar to that of Employer anywhere within the Market Area. Notwithstanding the foregoing, the Employee is permitted hereunder to own, directly or indirectly, up to one percent (1%) of the issued and
outstanding securities of any publicly traded financial institution conducting business in the Market Area. 

 Employee further
agrees that for 24 months following the termination of his employment hereunder, Employee will not (i) call on, service or solicit competing business from customers or prospective customers of Employer if, within the twenty-four
(24) months before the termination 

  

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of Employee’s employment, Employee had or made contact with the customer, or had access to Confidential Information and files about the customer or
(ii) call on, solicit or induce any employee of Employer whom Employee had contact with, knowledge of, or association with in the course of employment with Employer to terminate employment from Employer, and will not assist any other person or
entity in such activities. 
 6.4 Non-Competition Covenant Reasonable. The parties to this Agreement hereby agree that the
non-competition provisions set forth in this Article VI are ancillary to this Agreement, which is an otherwise enforceable agreement. Employee agrees that any work performed by Employee for any competitor of Employer during the Non-Competition
Period inevitably would lead to Employee’s unauthorized use of Employer’s Confidential Information, even if such use were unintentional. Because it would be impossible, as a practical matter, to monitor, restrain, or police Employee’s
use of such Confidential Information other than by Employee’s not working for a competitor, Employee agrees that restricting such employment as set forth in this Agreement is the narrowest way to protect Employer’s interests, and the
narrowest way of enforcing Employee’s consideration for the receipt of Employer’s specialized training and Confidential Information (namely, Employee’s promise not to use or disclose that Confidential Information and/or specialized
training). 
 6.5 Consideration. In consideration for the above obligations of the Employee, Employer agrees to provide
Employee with immediate access to Confidential Information relating to Employer’s business and to highly specialized training regarding Employer’s methodologies and business strategies, which will enable Employee to perform his or her job
for Employer. Employee also will have immediate access to, or knowledge of, new Confidential Information of third parties, such as actual and potential customers, suppliers, partners, joint venturers, investors, financing sources, etc. of Employer.

 6.6 Enforcement and Legal Remedies. Employer and Employee acknowledge and agree that breach of any of the covenants made by
Employee in this Agreement would cause irreparable injury to Employer, which could not sufficiently be remedied by monetary damages; and, therefore, that Employer shall be entitled to obtain such equitable relief as declaratory judgments; temporary,
preliminary and permanent injunctions, without posting of any bond, and order of specific performance to enforce those covenants or to prohibit any act or omission that constitutes a breach thereof. If Employer must bring suit to enforce this
Agreement the prevailing party shall be entitled to recover its attorneys’ fees and costs related thereto. 
 6.7 Tolling.
In the event that Employer shall file a lawsuit in any Court of competent jurisdiction alleging a breach of the non competition provisions of this Agreement by the Employee, then any time period set forth in this Agreement including the time periods
set forth above, shall be deemed tolled as of the time such lawsuit is filed and shall remain tolled until such dispute finally is resolved either by written settlement agreement resolving all claims raised in such lawsuit or by entry of a final
judgment in such lawsuit and the final resolution of any post-judgment appellate proceedings. 
  

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 ARTICLE VII 
 PROPERTY RIGHTS 
 7.1 Trade Secrets and Confidentiality. During the Term, Employee will
have access to and become familiar with Confidential Information owned by Employer and regularly used in the operation of the business of Employer. Employee shall not disclose any such Confidential Information, directly or indirectly, nor use it in
any way, either during the Term or at any time thereafter, except as required in the course of his employment with Employer. All Confidential Information, whether or not prepared by Employee, shall remain the exclusive property of Employer and shall
not be removed from the premises of Employer under any circumstances without the prior written consent of Employer, provided, however, that Employee may remove such items for the purpose of furthering the business of Employer if such action is
consistent with the past practices of Employer. All items removed from the premises of Employer and all copies or summaries thereof shall be returned to Employer upon the termination of Employee. 
 7.2 Business Plans and Improvements. Employee agrees that he will promptly from time to time fully inform and disclose to Employer all
processes, designs, improvements and business plans which he now has or may hereafter have during the term of this Agreement which pertain or relate to the business of Employer or to any experimental work carried on by Employer, whether conceived by
Employee alone or with others and whether or not conceived during regular working hours. All such processes, designs, improvements, formulas, business plans, technologies and discoveries shall be the exclusive property of Employer. 
 ARTICLE VIII 
 TERMINATION RIGHTS

 8.1 Termination for Cause by the Employer. The Employer may terminate Employee’s employment for Cause (as defined
hereinafter), such termination to be effective immediately upon written notice to Employee. Any termination of Employee’s employment under this Section 8.1 will not be in limitation of any other right or remedy which the Employer may have
under this Agreement, at law, or in equity. The term “Cause” means (i) fraud, embezzlement, theft or misappropriation of funds or other property of the Employer, (ii) self-dealing or gross negligence in the performance by
Employee of his duties pursuant to this Agreement, (iii) the repeated failure or refusal by Employee to perform his duties to the Employer as provided herein, other than due to Disability, (iv) the commission by Employee of any willful
acts of bad faith or gross misconduct against the Employer, (v) the indictment of Employee for a felony or other criminal act involving dishonesty, whether or not relating to his employment with the Employer, (vi) the repeated breach of a
lawful, established policy or procedure of the Employer; provided that with respect to clauses (iii) and (vi), Employer shall give Employee written notice of the breach or other failure on the part of Employee and the actions necessary to
correct such breach, if applicable. If Employee fails to cure the breach or failure within twenty (20) days of receipt of such notice or if the breach or failure is incurable, Employer may proceed to terminate Employee’s employment for
Cause without further notice. 
  

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 8.2 Termination by the Company Upon Employee’s Disability. The Employer may terminate
Employee’s employment upon a determination of Disability (as defined below), such termination to be effective immediately upon written notice to Employee. The term “Disability” means Employee’s inability to perform his usual
services to the Employer because of mental or physical illness or injury for the consecutive days as defined in the Bank’s disability policy then in effect, which inability to perform will be determined by a physician selected by the Employer.

 8.3 Termination Upon Employee’s Death. In the event of Employee’s death, Employee’s employment under this
Agreement shall immediately terminate. 
 8.4 Termination by Employer Other Than for Cause, Disability or Death.
Notwithstanding anything to the contrary contained in this Agreement, the Employer may terminate this Agreement for any or no reason during the Term (i.e., other than for Cause or Disability), such termination to be effective immediately upon the
giving of written notice to Employee from the Employer. 
 8.5 Termination by Employee. Employee may terminate Employee’s
employment at any time and for any reason upon thirty (30) days notice. In the event Employee wishes to terminate Employee’s employment hereunder for Good Reason (as defined below), Employee shall first give the Employer written notice of
the breach or other failure on the part of the Employer giving rise to the Good Reason, and the actions necessary to correct such breach or failure. If the Employer fails to cure the breach or failure within twenty (20) days of the receipt of
such notice, Employee may proceed to terminate Employee’s employment for Good Reason without further notice. The term “Good Reason” means any action by the Employer which results in a material change in Employee’s position,
authority, duties, responsibilities, compensation or location, except as otherwise permitted in the Agreement. 
 8.6 Certain Payments
Following Termination of Employment. 
  

	 	a)	If Employee’s employment with the Employer is terminated by the Employer for Cause or if Employee terminates Employee’s employment without Good Reason, Employee shall
thereafter be entitled to receive from the Employer payment of any accrued but unpaid Base Salary, allowances and reimbursements through the date of such termination. Further, if the Employer terminates the Employee for Cause or the Employee
terminates without Good Reason, Employee’s obligations set forth in Article VI shall continue during the Non-Competition Period without the payment of any additional consideration. 

  

	 	b)	If Employee’s employment with the Employer is terminated by the Employer for any reason other than for Cause, as a result of Employee’s death or Disability, or if Employee
terminates his employment with Employer for Good Reason, Employee shall be entitled to receive from the Employer: 

  

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	 	(i)	payment of accrued but unpaid Base Salary, allowances and reimbursements as of the date of termination of Employee’s employment, subject to all required withholding obligations
of Employer; 

  

	 	(ii)	payment of Employee’s Base Salary, subject to all required withholding obligations of Employer, for the remaining portion of the Initial Term of this Agreement;

  

	 	(iii)	payment of all premiums for Employee’s continued participation in the Employer’s medical/dental plan until the earlier of (i) the expiration of the Term, or
(ii) the expiration of the Company’s obligation to offer continued coverage under any such plans under applicable law; 

  

	 	(iv)	continuation of use of the automobile and cell phone provided pursuant to Sections 5.3 and 5.4, respectively, through the Term of this Agreement, 

  

	 	(v)	payment for accrued and unused vacation days as of the date of termination of Employee’s employment, subject to all required withholding obligations of Employer; and

  

	 	(vi)	reimbursement for incurred business expenses, which remain unpaid as of the effective date of termination. 

 Payments under (i), (ii), (v) and (vi) shall be made in one lump sum on the date of termination of Employee’s employment or as soon as
administratively feasible thereafter, but in no event after the later of (i) the last day of the calendar year in which Executive’s employment terminates, or (ii) the fifteenth (15th) day of the third calendar month following the date of termination of Executive’s employment. Further, Employee’s obligations under Article VI
shall continue during the Non-Competition Period and the Employee will receive the Consideration defined in Article 6.5. 
 Notwithstanding
any provision of this Agreement to the contrary, if at the time of Employee’s termination of employment with the Employer, he is a “specified employee” as defined in Section 409A of the Internal Revenue Code of 1986, as amended
(the “Code”), no payment or benefit will be provided under this Section 8.6 until the earliest of (A) the date which is 6 months after the date of Employee’s termination of employment, or (B) the date of Employee’s
death. The first sentence of this paragraph shall apply only to the extent required to avoid Employee’s incurrence of any additional tax or interest under Section 409A of the Code or any regulations or Treasury guidance promulgated
thereunder. In addition, if any provision of this Agreement (or of any award of compensation) would cause Employee to incur any additional tax or interest under Section 409A of the Code or any regulations or Treasury guidance promulgated

  

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thereunder, the Employer shall reform such provision; provided that the Employer shall (i) maintain, to the maximum extent practicable, the original
intent of the applicable provision without violating the provisions of Section 409A of the Code and (ii) notify and consult with Employee regarding such amendments or modifications prior to the effective date of any such change.

 8.7 Return of Property. Upon the expiration of the Term or the termination of this Agreement or of Employee’s
employment hereunder for any reason, Employee (or Employee’s executor or personal representative in the event of Employee’s death or Disability) shall, within ten (10) days thereafter, return to the Employer all property of the
Employer, including, but not limited to, all keys, credit cards, and all other property of the Employer in Employee’s possession. 
 ARTICLE IX 
 GENERAL PROVISIONS 
 9.1 Notices. Any notices to be given hereunder by either party to the other may be effected either by personal delivery in writing or by mail, registered or certified, postage prepaid with return receipt
requested. Mailed notices shall be addressed to the parties at the addresses appearing in the introductory paragraph of the Agreement, but each party may change his address by written notice in accordance with this paragraph. Notices delivered
personally shall be deemed communicated as of actual receipt; mailed notices shall be deemed communicated as of three (3) days after mailing. 
 9.2 Entire Agreement. This Agreement supersedes any and all other agreements, either oral or in writing, between the parties hereto with respect to the employment of Employee by Employer, and contains all of the covenants and
agreements between the parties with respect to such employment in any manner whatsoever. 
 9.3 Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of the State of Texas. 
 9.4 Modification. This Agreement shall
not be amended, modified, or altered in any manner except in writing signed by both parties. 
 9.5 Failure to Enforce Not
Waiver. Any failure or delay on the part of either Employer or Employee to exercise any remedy or right under this Agreement shall not operate as a waiver. The failure of either party to require performance of any of the terms, covenants, or
provisions of this Agreement by the other party shall not constitute a waiver of any of the rights under the Agreement. No forbearance by either party to exercise any rights or privileges under this Agreement shall be construed as a waiver, but all
rights and privileges shall continue in effect as if no forbearance had occurred. No covenant or condition of this Agreement may be waived except by the written consent of the waiving party. Any such written waiver of any term of this Agreement
shall be effective only in the specific instance and for the specific purpose given. 
  

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 9.6 Survival. Notwithstanding anything in this Agreement to the contrary, the provisions of
Article VI shall survive early termination or expiration of the Term of this Agreement. 
 9.7 Partial Invalidity. If any
provision of this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions shall remain in full force and effect, as if this Agreement has been executed without any such invalid
provisions having been included. Such invalid provision shall be reformed in a manner that is both (i) legal and enforceable, and (ii) most closely represents the parties’ original intent. 
 9.8 Attorney’s Fees and Costs. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the
prevailing party shall be entitled to reasonable attorney’s fees, costs, and necessary disbursements in addition to any other relief to which he may be entitled. 
 9.9 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. 
 9.10 Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of Employer and Employee, and their
respective heirs, executors, administrators, successors and assigns, including, without limitation, any successor by merger, consolidation or stock purchase of Employer and any entity or person that acquires all or substantially all of the assets of
Employer. 
 [Signature Page Follows] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Employment Agreement to be duly executed as of
the date first written above. 
  

			
	 PROSPERITY BANK, EMPLOYER

		
	By:	 	  
		 	 David Zalman

		 	 Senior Chairman of the Board and
 Chief Executive Officer

			
	
	PROSPERITY BANCSHARES, INC.
		
	By:	 	  
		 	 David Zalman

		 	 Chairman of the Board and
 Chief Executive Officer

			
	
	EMPLOYEE
	
	 
	 L. Don Stricklin

  

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