Document:

2014.3.31-EX10.1.2

RESTRICTED STOCK UNIT AGREEMENT 

AGREEMENT made effective as of the 22nd day of November, 2013 (the “Award Date”), between ENTERPRISE FINANCIAL SERVICES CORP, a Delaware corporation (the “Company”), and Keene S. Turner (“Employee”). 

1.     AWARD. The Company hereby awards and issues to Employee 9,300 restricted stock units (the “Units”).  Each Unit represents the right to receive one share of the Company’s common stock, par value $0.01 per share (the “Stock”) under the Company’s 2013 Stock Incentive Plan (as amended from time to time, the “Plan”) subject to the terms of the Plan (including, without limitation, adjustment of the ratio of converting Units into Stock provided for in the Plan) and to the vesting requirements set forth herein.

2.     VESTING. 

(a)    Vesting of the Units shall be based upon periods of service subsequent to the date of award and not on other Qualifying Performance Criteria.  Units shall vest in accordance with the following schedule provided that Employee is employed by the Company on the Vesting Date: 

	
			
	Vesting Date
	Percentage of
Units Vesting
	Cumulative Vesting 
Percentage

	December 15, 2014 - 
	33.33%
	33.33%

	December 15, 2015 -
	33.33%
	66.66%

	December 15, 2016 -
	33.34%
	100%

Immediately on and as of each such vesting date (or any earlier vesting date pursuant to Section 2(b) below), the Units shall be converted into shares of Stock under the Plan and the Company shall issue such shares to Employee by means of book entry and shall, upon request of the Employee, issue a certificate representing such shares and Employee shall have all rights of a shareholder of record with respect to such shares from and after such date.  Employee shall have neither the right to vote nor the right to receive cash dividends or distributions nor any other rights as a shareholder with respect to the Units prior to the date of vesting.

(b)    In the event of death, Termination Other Than for Cause, Disability, Retirement or Change of Control (in each case, as defined below), all Units not otherwise vested shall immediately become vested.

(c)    As used herein the following terms have the definitions indicated: 

i.    “Change of Control” has the meaning set forth in the Plan.

ii.    “Disability” means qualification for disability benefits under the Social Security disability insurance program, or if an employee is determined to be permanently disabled by the Committee in its discretion. 

iii.    “Retirement” means the termination of employment, other than for reasons that constitute deliberate gross misconduct, determined in the sole discretion of the Committee, after the time that the Employee has attained 60 years of age and the sum of his attained age and his continuous full years of full time employment service with the Company is 70 (e.g., having attained the age of 60 with 10 years of employment with the Company or age 65 with 5 years of employment with the Company would qualify the employee for Retirement).  For these purposes, an employee will be deemed to have a year of full time employment service with the Company if the employee would be entitled to receive credit for a year of service under a qualified pension plan in accordance with Internal Revenue Service Code §1053(b)(2)(c).

iv.    “Termination Other Than for Cause” shall have the meaning set forth in the Executive Employment Agreement, dated as of September 13, 2013, by and between the Company and Employee, as may be amended from time to time.

(d)    Subject to subsection (b) above, the Employee will forfeit all unvested Units and vesting of Units shall immediately terminate upon the termination of Employee’s employment with the Company for any reason or no reason.  

		
	3.
	TERMS AND LIMITATIONS.

(a)     ISSUANCE OF UNITS. The Units shall be evidenced by this Agreement and deemed issued on the Award Date. 

(b)     PLAN INCORPORATED.  The terms and conditions of the Plan  are incorporated herein by reference.  Employee acknowledges receipt of a copy of the Plan (as amended and restated to the date hereof) and agrees that this award of Units shall be subject to all of the terms and conditions set forth in the Plan, including future amendments thereto, if any, provided, however, that no such future amendment shall have an effect upon the vesting requirements set forth herein or impose additional vesting requirements or extend restrictions on Stock beyond the time of vesting. Capitalized terms not otherwise defined herein shall have the meaning set forth in the Plan. 
    
4.     WITHHOLDING OF TAX; SHORT-TERM DEFERRAL. To the extent that the vesting of Units or receipt of shares of Stock results in income to Employee for federal, state or local income tax purposes, Employee shall pay to the Company, or make arrangements satisfactory to the Committee regarding payment of, any federal, state or local taxes of any kind required by law to be withheld with respect to such income.  The Company shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the Employee, including the right but not the obligation to effect such withholding by offset against the shares of Stock deliverable in respect of vested Units. The Units granted under this Agreement and the benefits incident thereto constitute short-term deferrals within the meaning of Treasury Regulation Section 1.409A-1(b)(4).

5.     SALE OR TRANSFER OF UNITS OR STOCK.  Employee agrees that the Units may not be sold, transferred or otherwise disposed of in any manner prior to vesting.  Employee also understands that although the issuance of grants and awards under the Plan has been registered under the Securities Act of 1933, such registration does not apply to any resale or transfer by Employee of the shares of stock resulting from vesting of units under this award and the Plan.  Employee also agrees (i) that the certificates representing the Stock may bear such legend or legends as the Committee deems appropriate in order to assure compliance with applicable securities laws, (ii) that the Company may refuse to register the transfer of the Stock on the stock transfer records of the Company if such proposed transfer would in the opinion of counsel satisfactory to the Company constitute a violation of any applicable securities law, and (iii) that the Company may give related instructions to its transfer agent to stop registration of the transfer of the Stock. 

6.     EMPLOYMENT RELATIONSHIP. For purposes of this Agreement, including determination of vesting, Employee shall be considered to be in the employment of the Company as long as Employee remains an employee of either the Company, any successor corporation (including any parent entity succeeding to the business of or control of the Company) or subsidiary corporation (as defined in Section 424 of the Code) of the Company or any successor corporation. Any question as to whether and when there has been a termination of such employment, and the cause of such termination, shall be determined by the Committee, and its determination shall be final and binding on all persons, including Employee. 

7.    COMMITTEE’S POWERS. No provision contained in this Agreement shall in any way terminate, modify or alter, or be construed or interpreted as terminating, modifying or altering any of the powers, rights or authority vested in the Committee pursuant to the terms of the Plan, including, without limitation, the Committee’s rights to make certain determinations and elections with respect to the Units and Restricted Shares. 

8.     BINDING EFFECT. This Agreement shall be binding upon and inure to the benefit of the Company, its subsidiaries and any of their respective successors, and all persons lawfully claiming under Employee. 

    
9.     GOVERNING LAW. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Missouri. 

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer thereunto duly authorized, and Employee has executed this Agreement, all effective as of the date first above written. 

ENTERPRISE FINANCIAL SERVICES CORP 

By: /s/ Peter F. Benoist                                                        
Peter F. Benoist, Chief Executive Officer
 

KEENE S. TURNER

/s/ Keene S. Turner                                                        
EMPLOYEE 

Executed: March 26, 20142014.3.31-EX10.1.3

ENTERPRISE FINANCIAL SERVICES CORP
LONG TERM INCENTIVE PLAN GRANT AGREEMENT

This Long Term Incentive Plan Grant Agreement (the “Agreement”) is executed and delivered by Enterprise Financial Services Corp (the “Company”) and the undersigned grantee (“Grantee”).

1.Grant.  The Company, with the approval of the Compensation Committee of the Board of Directors (the “Committee”) has granted (the “Grant”) to the Grantee the opportunity to earn the number of shares of Stock set forth in the Grantee’s Long Term Incentive Plan Grid (the “Grid”) delivered to Grantee on or after _________, 20__, subject to the terms, conditions and adjustments set forth in this Agreement, the Company’s 2013 Stock Incentive Plan, as amended (the “Plan”) and the Grid.  This Agreement completely supersedes and replaces any prior form of terms, conditions, and agreements with respect to grants made on or after _________, 20__.

2.Grant Administration.  This Grant is made under, and is subject to, all of the terms and provisions of this Agreement, the Grid and the Plan, as amended from time to time, which terms are incorporated herein by reference.  Notwithstanding anything herein, the Plan or the Grid to the contrary, this Grant is subject to the Company’s Clawback Policy as amended from time to time.  The Committee has been authorized by the Board of Directors to make any and all determination necessary to administer this Grant, including without limitation evaluation of the Company’s achievement of performance goals specified in the Grid. To the extent not specifically defined in this Agreement or the Grid, all capitalized terms used in this Agreement and the Grid will have the same meanings ascribed to them in the Plan.  

3.Performance Period.  The performance period for the Grant begins _________, 20__, and ends _________, 20__ (the “Performance Period”).

4.Payout.  Subject to earlier termination of this Agreement below or as otherwise specifically provided herein, following the end of the Performance Period but no later than March 15 (such date, the “Award Date”) of the calendar year following the end of the Performance Period, the Company will deliver to Grantee fully vested shares of Stock based on the Company’s achievement of the Performance Goals set forth on the Grid (the “Award”); except that, the Company shall take such action as may be necessary in the opinion of the Company to satisfy all obligations for withholding of such taxes pursuant to Section 8.  No fractional Shares shall be issued, and any fractional shares of Stock shall be rounded down to the nearest whole share of Stock.

5.Performance Goals.  

(a)    Any Award of Stock pursuant to this Grant is subject to satisfaction of the performance goals as set forth in the Grid.  The Grid specifies two performance goals (“Goals”), approved by the Committee and the shareholders of the Company, which must be satisfied to receive any Stock under this Grant.  Each Goal is assigned a “Threshold,” “Target” and “Exceptional” performance level and a corresponding number of shares of Stock contingent upon satisfaction of such level of performance.  If actual performance for a Goal is less than Threshold, Grantee will receive no Award of Stock for such performance goal.  If actual performance for a Goal falls between Threshold and Target or between Target and Exceptional, the Company will use straight line interpolation to determine the number of shares of Stock in the Award with respect to such goal, based on the number of shares of Stock specified in the Grid.

(b)    Notwithstanding any other provision of this Agreement, the number of shares of Stock awarded to Grantee with respect to a Goal will not exceed the number of shares of Stock specified for the Exceptional level of such Goal and no shares will be awarded to Grantee with respect to a Goal unless the “Threshold Level” is achieved for such Goal.

6.Termination.  This Agreement and the Grid will terminate and be of no further force or effect on the date that Grantee is no longer actively employed by the Company or any of its subsidiaries, for any reason or no reason whether due to voluntary or involuntary termination, death, disability or retirement prior to the Award Date.  Notwithstanding the foregoing, the Committee may, in its sole discretion, provide for full or partial Award of the Stock as it deems in the best interest of the Company upon a termination of Grantee’s employment due to death, disability (as the Committee may define in its discretion) or Change of Control; provided that any Award pursuant to this sentence shall be paid to Grantee not later than March 15 of the calendar year immediately following the year in which such termination of employment occurs.

7.Non-Transferability.  Neither the grant nor any rights under this Agreement or the Grid may be assigned, transferred, or in any manner encumbered except by will or the laws of descent and distribution, and any attempted assignment, transfer, mortgage, pledge or encumbrance except as herein authorized, will be void and of no effect.

8.Withholding.  The Company shall withhold from any payment hereunder an amount of shares of Company Stock sufficient to cover any required withholding taxes to the extent required by statutory withholding requirements.
  
9.Choice of Law.  To the extent not preempted by Federal law, this Agreement and the Grid and all determinations and actions taken hereunder and thereunder shall be governed by the laws of the State of Missouri, without giving effect to principles of conflicts or choice of law, except for matters subject to the General Corporation Law of Delaware, which shall be governed thereby, without giving effect to principles of conflicts or choice of laws.

10.Adjustment.  Appropriate adjustments in the number of shares of Stock shall be made by the Committee to give effect to adjustments made in the number or type of shares of Stock through a reclassification, stock dividend, stock split or stock combination, or similar event in accordance with the terms of the Plan.

11.Section 409A.  It is intended that this Agreement shall be administered in a manner that will comply with or meet an exception from Section 409A of the Code, and this Agreement shall be administered and interpreted in accordance with such intent.  The Committee may adopt rules deemed necessary or appropriate to qualify for an exception from or to comply with the requirements of Section 409A of the Code.  Notwithstanding anything in this Section to the contrary, no amendment to or payment under this Agreement will be made unless permitted under Section 409A of the Code.

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IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date first above written. 

ENTERPRISE FINANCIAL SERVICES CORP 

By:                                                                                   
Name:                                                                            
Title:                                                                              

___________________________________________ 
GRANTEE

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