Document:

Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this
“Agreement”) is dated as of April 1, 2010 and is entered into by and between ROSEANNA McGILL (“Executive”) and PLAINSCAPITAL CORPORATION, a Texas corporation (the “Company”), on behalf of
itself and all of its subsidiaries (collectively “Employer”). As an inducement to continuing to render services and superior performance to Employer, Executive and Employer agree as follows: 
  

	1.	Employment. Upon the terms and subject to the conditions contained in this Agreement, Executive agrees to provide full-time services for Employer during
the term of this Agreement. Executive agrees to devote her best efforts to the business of Employer, and shall perform her duties in a diligent, trustworthy and business-like manner, all for the purpose of advancing the business of Employer;
provided that nothing herein shall prevent Executive from devoting such time to her personal investments or serving on the board of directors or trustees of any business corporation or charitable organization, or engaging in other charitable
or community activities, so long as such service and activities do not materially interfere with the performance of Executive’s duties hereunder or otherwise conflict with Sections 13 through 15 hereof. 

  

	2.	Duties. From the date of this Agreement through December 31, 2010, Executive shall have the title of Chairman and Chief Executive Officer of
PrimeLending, a wholly-owned subsidiary of the Company. On January 1, 2011, Executive shall relinquish the title of Chief Executive Officer to Todd Salmans, or such other individual designated by the Board of Directors of Employer (the
“Board”) prior to such time, and shall retain the title of Chairman, subject to annual review of her duties and title by the Board. The duties of Executive shall be those duties which can reasonably be expected to be performed by a
person with the title of Chairman and Chief Executive Officer of a major financial organization. Executive shall report directly to the Chief Executive Officer of the Company (the “CEO”). Executive’s duties may, from time to
time, be changed or modified at the discretion of the CEO so long as they remain consistent with those duties, which can reasonably be expected to be performed by a person with the title of Chairman and Chief Executive Officer of a major financial
organization. In addition, Executive’s duties and responsibilities shall include taking all reasonably necessary actions to ensure that the business operations of PrimeLending comply with the requirements of the U.S. Department of
Treasury’s TARP Capital Purchase Program (“TARP”), including, without limitation: (i) reviewing the current business practices of PrimeLending to ensure that they do not encourage impudent risk-taking by employees and do
not create excessive risk for the Company and, to the extent necessary, modifying such business practices to ensure that they are in alignment with the requirements of TARP and in the best interests of the Company’s shareholders; and
(ii) working with the employees of PrimeLending to ensure that each such employee’s business practices are in alignment with the requirements of TARP and in the best interests of the Company’s shareholders. Executive has received and
is familiar with Employer’s ethics and insider trading policies and procedures, and understands and agrees her duties include compliance with such policies and procedures, as amended from time to time. 

 Employment Agreement 

	3.	Salary and Benefits. 

  

	 	(a)	Base Salary. Employer shall, during the term of this Agreement, pay Executive an annual base salary of Six Hundred Fifty Thousand Dollars ($650,000.00).
Such salary shall be paid in semi-monthly installments less applicable withholding and salary deductions. Base salary shall be reviewed and adjusted at least annually, but may not be reduced, except as otherwise provided by Section 17 below.

  

	 	(b)	Bonus. Subject to Section 17 below, Executive shall be eligible to receive an annual bonus for each year ending during the term of this
Agreement as shall be determined by the Board of Directors of Employer (the “Board”). Notwithstanding the immediately preceding sentence and subject to Section 17 below, Executive shall not be eligible to receive any
bonus for any year in which she is determined by the Board to be one of the five “most highly compensated employees” (as such term is defined in the Interim Final Rule governing TARP) and/or whose compensation is otherwise subject to the
limitations imposed by TARP. Any bonus paid to Executive shall not be based upon performance criteria that would encourage Executive to take any unnecessary and excessive risks that threaten the value of Employer, and Employer expressly discourages
Executive from taking such risks. Notwithstanding the foregoing, during any period that Employer is subject to Section 111(b) of the Emergency Economic Stabilization Act of 2008, as amended: (1) in the event Employer (or the Compensation
Committee of the Company) determines, in its sole discretion, that Executive has taken any unnecessary and excessive risks, Employer may reduce all or any portion of any bonus payable to Executive; and (2) in the event Employer (or the
Compensation Committee of the Company) determines, in its sole discretion, that Executive has been paid or has obtained a legally binding right to a bonus that is based on materially inaccurate financial statements and any other materially
inaccurate performance metric criteria, Executive must pay Employer an amount equal to such bonus immediately after Executive receives notice of such misstatement (or forfeit receipt of such bonus if the bonus has not been paid). Any bonus payable
under this Section 3(b) shall be paid on or before March 15 of the year following the year for which the bonus is payable. 

  

	 	(c)	 Equity Grant. As soon as administratively possible following the date of this Agreement, Executive shall receive a grant for Twenty-Five
Thousand (25,000) shares of common stock of the Company, in the form of restricted stock (the “Equity Grant”). The Equity Grant shall be subject to the terms and conditions of an award agreement between Executive and the
Company, which shall include, without limitation, the following terms: (i) cliff vesting of the Equity Grant on the later of: (x) the fifth anniversary of the date of grant or (y) to the extent Executive is subject to the bonus
restrictions under 31 CFR §30.10 (or any subsequent

  

			
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guidance issued pursuant to TARP), the first date that the United States Department of Treasury no longer owns any debt or equity securities of Company in connection with Company’s
participation in TARP; (ii) immediate vesting of all unvested shares subject to the Equity Grant upon the occurrence of an “initial public offering” (as defined in the applicable award agreement); and (iii) in the event Executive
violates any of the provisions of Section 13 or 14 below, (x) immediate forfeiture of any unvested shares of the Equity Grant; (y) immediate forfeiture of any shares of the Equity Grant that vested within the 180-day period preceding
such event that are still held by Executive; and (z) immediate payment by Executive to the Company of any gain that Executive realized on the sale of any vested shares of the Equity Grant that were sold by Executive within the 180-day period
preceding or the one year period following the date of such violation. Executive agrees to execute any documents requested by the Company in connection with the grant of the Equity Grant pursuant to this Section 3(c).

  

	 	(d)	Reimbursement of Expenses. Employer shall reimburse Executive for all out-of-pocket expenses incurred by Executive in the course of her duties, in
accordance with normal policies. Executive shall be required to submit to Employer appropriate documentation supporting such out-of-pocket expenses as a prerequisite to reimbursement in accordance with normal policies. The amount of expenses
eligible for reimbursement during a calendar year shall not affect the expenses eligible for reimbursement in any other calendar year. Reimbursement of eligible expenses shall be made on or before the last day of the calendar year following the
calendar year in which the expenses were incurred. 

  

	 	(e)	Executive Benefits. Subject to the provisions of Section 17 below, Executive shall be entitled to participate in the employee benefit programs
generally available to employees of Employer and to all normal perquisites provided to similarly situated employees of Employer. 

  

	 	(f)	Country Club/Luncheon Club Membership. During the term of this Agreement and except as otherwise provided by Section 17 below, Employer shall
either provide Executive with reasonable access to a country club or luncheon club for business use or Employer shall reimburse Executive for the dues and reasonable expenses associated with a country club or luncheon club membership, provided
Executive submits appropriate documentation supporting such dues and expenses to Employer in accordance with Employer’s normal policies. 

  

	 	(g)	Benefits Not in Lieu of Compensation. No benefit or perquisite provided to Executive shall be deemed to be in lieu of base salary or other compensation.

  

	4.	 Term of Agreement. This Agreement shall become effective and binding immediately upon its execution and shall remain in effect until
December 31, 2011 or until later termination if this Agreement is renewed under this Section 4. On December 31, 2011, this Agreement shall be automatically renewed for an additional one year term unless

  

			
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either Employer or Executive provides written notice of election not to renew at least 90 days before such December 31st renewal date. If this Agreement is so renewed, thereafter, on each
successive annual anniversary of the renewal date, this Agreement shall be automatically renewed for an additional one year term unless either Employer or Executive provides written notice of election not to renew at least 90 days before such
applicable renewal date. 

  

	5.	General Termination Provisions. Except as otherwise provided by Section 17 hereof, if Executive has a Termination of Employment during the
term of this Agreement, other than under the provisions of Section 6, then upon such Termination of Employment and conditioned upon Executive’s execution of a release in a form provided by Employer within forty-five (45) days
following such Termination of Employment, Employer will be liable to Executive for all payments (if any) as described in Section 5, as follows: 

  

	 	(a)	Termination by Employer. Employer may terminate Executive’s employment and this Agreement under this Section 5 only upon the occurrence
of one or more of the following events and under the conditions described below. 

  

	 	(i)	Termination For Cause. Employer may discharge Executive for Cause, and, upon such Termination of Employment, this Agreement shall terminate immediately
and Executive shall be entitled to receive: 

  

	 	(A)	Executive’s base salary through the effective date of such Termination of Employment at the annual rate in effect at the time Notice of Termination is given,
payable within ten (10) business days after the effective date of such Termination of Employment; 

  

	 	(B)	any annual bonus fully earned as defined in the Bonus Plan but unpaid as of the effective date of such Termination of Employment for any previously completed fiscal
year, payable within ten (10) business days after the effective date of such Termination of Employment; 

  

	 	(C)	all earned and unpaid and/or vested, nonforfeitable amounts owing or accrued at the effective date of such Termination of Employment under any compensation and benefit
plans, programs, and arrangements of Employer and its affiliates in which Executive theretofore participated, payable in accordance with the terms and conditions of the plans, programs, and arrangements (and agreements and documents thereunder)
pursuant to which such compensation and benefits were granted or accrued; and 

  

	 	(D)	reimbursement for any unreimbursed business expenses properly incurred by Executive in accordance with Employer policy prior to the effective date of such Termination
of Employment (collectively, (A) through (D) above shall be the “Accrued Amounts”). 

  

			
	Employment Agreement	  	Page 4

	 	(ii)	Termination Without Cause or Upon Termination after Non-Renewal. If Employer shall discharge Executive without Cause (other than pursuant to a Change in
Control as described in Section 6) or if Employer shall give Executive notice of its intention to not renew this Agreement pursuant to Section 4 and within ninety (90) days after termination of this Agreement terminate
Executive without Cause, then upon such Termination of Employment, this Agreement shall terminate immediately, if it has not already terminated, and conditioned upon Executive’s execution of a release in a form provided by Employer within
forty-five (45) days following such Termination of Employment, and Executive shall be entitled to receive: 

  

	 	(A)	the Accrued Amounts; and 

  

	 	(B)	a cash amount equal to one (1) times the sum of (i) the annual base salary rate of Executive immediately prior to the effective date of such Termination of
Employment, and (ii) the average annual bonus paid to Executive in respect of the three (3) calendar years immediately preceding the year of Termination of Employment, payable in a lump sum payment within sixty (60) days following the
effective date of such Termination of Employment. 

  

	 	(iii)	Termination Because of Death or Disability. In the event of Executive’s death or disability (within the meaning of Employer’s disability policy
that is in effect at the time of disability), upon such Termination of Employment, this Agreement shall terminate immediately and Executive (or her estate) shall be entitled to receive the Accrued Amounts. 

  

	 	(b)	Termination by Executive. Executive may voluntarily terminate this Agreement at any time following its execution. If Executive shall voluntarily terminate
her employment for any reason, this Agreement shall terminate immediately and Executive shall be entitled to receive the Accrued Amounts. 

  

	6.	Termination Upon Change in Control. 

  

	 	(a)	 Upon (x) the discharge of Executive by Employer without Cause within the twenty-four (24) months immediately following, or the six (6) months
immediately preceding, a Change in Control; or (y) Executive’s Termination of Employment for Good Reason within the twenty-four (24) months immediately following, or the six (6) months immediately preceding, a Change in Control; then upon such
Termination of Employment, this Agreement shall terminate immediately, and conditioned upon Executive’s execution of a release in a form

  

			
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provided by Employer within forty-five (45) days following such Termination of Employment, Executive shall be entitled to receive (except as otherwise provided by Section 17
hereof): 

  

	 	(i)	the Accrued Amounts; 

  

	 	(ii)	a cash lump sum amount equal to three (3) times the sum of Executive’s (A) annual rate of salary in effect immediately prior to the effective date of
such Termination of Employment or, if higher, the annual rate in effect immediately prior to the Change in Control and (B) annual bonus paid or payable with respect to the calendar year prior to the calendar year in which the effective date of
such Termination of Employment occurs or, if higher, the average annual bonus paid or payable to Executive for the three (3) calendar years preceding the calendar year in which the effective date of such Termination of Employment occurs,
payable within sixty (60) business days after the effective date of such Termination of Employment (or, if later, the effective date of the Change in Control); 

  

	 	(iii)	to the extent permitted by applicable law, inclusion in Employer’s Welfare Plans as if Executive were still employed by Employer until the earlier of two
(2) years following the date of Termination of Employment of Executive, or until Executive obtains eligibility under comparable employee plans from another employer which, to the extent such benefits are otherwise taxable to Executive, such
benefits shall for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations and other guidance issued thereunder (“Section 409A”) be provided as separate
monthly in-kind payments of those benefits, and to the extent those benefits are subject to and not otherwise excepted from Section 409A, the provision of the in-kind benefits during one calendar year shall not affect the in-kind benefits to be
provided in any other calendar year; 

  

	 	(iv)	continuation of the average auto allowance received by Executive during the twelve (12) month period immediately preceding the effective date of the Termination of
Employment until the earlier of two (2) years following the termination of Executive, or until Executive receives an auto allowance from another employer. Each payment of the auto allowance under this Section 6(a)(iv), for purposes
of Section 409A, shall be provided as a separate monthly in-kind payment, and the provision of the auto allowance during one calendar year shall not affect the payment of the auto-allowance to be provided in any other calendar year; and

  

	 	(v)	full vesting of all outstanding stock options then held by Executive, with the option to receive a cash payment equal to the then difference between the option price
and the current fair market value of the stock as of the effective date of such Termination of Employment in lieu of the right to exercise such options. 

  

			
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	 	(b)	Anything in this Section 6 to the contrary notwithstanding, in the event it shall be determined that any payment or distribution made, or benefit provided,
by Employer to or for the benefit of Executive under Section 6(a) (whether paid or payable or distributed or distributable or provided pursuant to the terms hereof or otherwise) would constitute a “parachute payment” as defined
in Section 280G of the Code, then the benefits payable pursuant to Section 6(a) shall be reduced so that the aggregate present value of all payments in the nature of compensation to (or for the benefit of) Executive which are
contingent on a change of control (as defined in Section 280G(b)(2)(A) of the Code) is One Dollar ($1.00) less than the amount which Executive could receive without being considered to have received any parachute payment (the amount of this
reduction in the benefits payable is referred to herein as the “Excess Amount”). The determination of the amount of any reduction required by this Section 6(b) shall be made by an independent accounting firm selected by
Employer, and such determination shall be conclusive and binding on the parties hereto. 

  

	 	(c)	Notwithstanding the provisions of Section 6(b), if it is established, pursuant to a final determination of a court or an Internal Revenue Service proceeding
which has been finally and conclusively resolved, that an Excess Amount was received by Executive from Employer, then such Excess Amount shall be deemed for all purposes to be a loan to Executive made on the date Executive received the Excess Amount
and Executive shall repay the Excess Amount to Employer on demand (but no less than ten (10) days after written demand is received by Executive) together with interest on the Excess Amount at the “applicable Federal rate” (as defined
in Section 1274(d) of the Code) from the date of Executive’s receipt of such Excess Amount until the date of such repayment. 

  

	 	(d)	Notwithstanding anything to the contrary contained herein, any amounts payable to Executive pursuant to Section 6(a) shall be reduced by any amounts
previously received by Executive pursuant to Section 5 above. 

  

	7.	Definitions. 

  

	 	(a)	Termination For Cause. “Cause” for termination shall mean that, prior to any termination pursuant to Section 5(a)(i) hereof,
Executive shall have committed or caused: 

  

	 	(i)	an intentional act of fraud, embezzlement or theft in connection with her duties or in the course of her employment with Employer; 

  

	 	(ii)	intentional wrongful damage to property of Employer; 

  

			
	Employment Agreement	  	Page 7

	 	(iii)	intentional wrongful disclosure of trade secrets or confidential information of Employer; 

  

	 	(iv)	intentional violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease and desist order; 

  

	 	(v)	intentional breach of fiduciary duty involving personal profit; or 

  

	 	(vi)	intentional action or inaction which causes material economic harm to Employer; 

 provided, however, that none of the actions described in clauses (i) through (vi) above shall constitute grounds for a
“Cause” termination unless any such act or actions shall have been determined by the Board to have been materially harmful to Employer. For the purposes of this Agreement, no act or failure to act on the part of Executive shall be deemed
“intentional” unless done or omitted to be done by Executive not in good faith and without reasonable belief that her action or omission was in the best interest of Employer. 
 Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for “Cause” hereunder unless and until there
shall have been delivered to Executive a copy of a resolution duly adopted by the affirmative vote of not less than three-quarters (3/4) of the Directors then in office at a meeting of the Directors called and held for such purpose (after
reasonable notice to Executive and an opportunity for Executive, together with her counsel, to be heard before the Directors), finding that in the good faith opinion of the Directors, Executive had committed an act set forth above in this
Section 7(a) and specifying the particulars thereof in detail. 
  

	 	(b)	Change in Control. A “Change in Control” means and shall be deemed to have occurred for purposes of this Agreement if and when any of the
following occur: 

  

	 	(i)	The Company is merged or consolidated or reorganized into or with another corporation or other legal person and as a result of such merger, consolidation or
reorganization less than fifty-one percent (51%) of the combined voting power of the then-outstanding securities of such corporation or person immediately after such transaction are held in the aggregate by the holders of voting securities of
Employer immediately prior to such transaction; 

  

	 	(ii)	The Company sells all or substantially all of its assets to any other corporation or other legal person, with the exception that it will not be deemed to be a Change in
Control if the Company sells assets to an entity that, immediately prior to such sale, held fifty-one percent (51%) of the combined voting power of the then-outstanding voting securities in common with the Company; 

  

			
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	 	(iii)	During any period of two (2) consecutive years, individuals who at the beginning of any such period constitute the Directors of the Company cease for any reason to
constitute at least a majority thereof unless the election or the nomination for election by the Company’s shareholders, of each Director of the Company first elected during such period was approved by a vote of at least two-thirds
(2/3) of the Directors of the Company then still in office who were Directors of the Company at the beginning of any such period; or 

  

	 	(iv)	any “person” or “group” (as defined in Sections 13(d)(3) and 14(d)(2) of the Securities Exchange Act of 1934, as amended) is or becomes the
beneficial owner, directly or indirectly, of more than fifty percent (50%) of the total voting power of the voting stock of the Company (or any entity which controls the Company), including by way of merger, consolidation, tender or exchange
offer or otherwise. 

  

	 	(c)	Good Reason. “Good Reason” shall mean: 

  

	 	(i)	Without her express written consent, the assignment to Executive of any duties materially inconsistent with her positions, duties, responsibilities and status with
Employer as then in effect or a significant material diminishment in her titles or offices as then in effect, or any removal of Executive from or any failures to re-elect Executive to any of such positions, in any case, except as permitted in
Section 2 above, and except in connection with the termination of her employment for Cause or as a result of her disability (within the meaning of Employer’s disability policy in effect at the time of the disability) or death, or
termination by Executive other than for Good Reason; 

  

	 	(ii)	A significant and material adverse diminishment in the nature or scope of the authorities, powers, functions or duties attached to the position with which Executive had
immediately prior to the Change in Control or a reduction in Executive’s aggregate base salary payable pursuant to Section 3 without the prior written consent of Executive; 

  

	 	(iii)	Employer shall relocate its principal executive offices or require Executive to have as her principal location of work any location which is in excess of fifty
(50) miles from the location thereof immediately prior to a Change in Control; or 

  

	 	(iv)	Any substantial and material breach of this Agreement by Employer. 

 With respect to any purported action (or failure to act) of Employer, Executive shall only have Good Reason to terminate her employment if she has provided to Employer a written notice describing what
Executive believes is Good Reason

  

			
	Employment Agreement	  	Page 9

 
within ninety (90) days of such purported action (or failure to act) of Employer and Employer has failed to cure such circumstance within thirty (30) days of receipt of said notice from
Executive. 
  

	 	(d)	Welfare Plans. “Welfare Plans” shall mean Employer’s medical, dental, group life and long term disability plans.

  

	 	(e)	Notice of Termination. “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this
Agreement relied upon and the termination date, and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for Termination of Employment under the provision so indicated. Any purported Termination of Employment
by Employer or by Executive (other than due to Executive’s death) shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 12 hereof. 

  

	 	(f)	Termination of Employment. “Termination of Employment” shall mean a “separation from service” as such term is defined in the
regulations issued under Section 409A. 

  

	8.	Governing Law. This Agreement is made and entered into in the State of Texas, and the laws of Texas shall govern its validity and interpretation in the
performance by the parties of their respective duties and obligations. 

  

	9.	Entire Agreement. This Agreement constitutes the entire agreement between the parties concerning the employment of Executive, supersedes all prior
understandings and agreements between Executive and Employer, and there are no representations, warranties or commitments other than those in writing executed by all of the parties. This is an integrated agreement. This Agreement may not be
altered, modified, or amended except by written instrument signed by the parties hereto. The failure of a party to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver of such party’s
rights or deprive such party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. 

  

	10.	Arbitration. 

  

	 	(a)	Executive and Employer acknowledge and agree that any claim or controversy arising out of or relating to this Agreement or the breach of this Agreement or any other
dispute arising out of or relating to the employment of Executive by Employer, shall be settled by final and binding arbitration in the City of Dallas, Texas, in accordance with the Commercial Arbitration Rules of the American Arbitration
Association in effect on the date the claim or controversy arises. 

  

	 	(b)	 All claims or controversies subject to arbitration shall be submitted to arbitration within six (6) months from the date the written notice of a
request for arbitration is effective. All claims or controversies shall be resolved by a panel of three (3)

  

			
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arbitrators who are licensed to practice law in the State of Texas and who are experienced in the arbitration of labor and employment disputes. These arbitrators shall be selected in accordance
with the Commercial Arbitration Rules of the American Arbitration Association in effect at the time the claim or controversy arises. Either party may request that the arbitration proceeding be stenographically recorded by a Certified Shorthand
Reporter. The arbitrators shall issue a written decision with respect to all claims or controversies within thirty (30) days from the date the claims or controversies are submitted to arbitration. The parties shall be entitled to be represented
by legal counsel at any arbitration proceeding. Executive and Employer acknowledge and agree that each party will bear fifty percent (50%) of the cost of the arbitration proceeding. The parties shall be responsible for paying their own
attorneys’ fees, if any. 

  

	 	(c)	Employer and Executive acknowledge and agree that the arbitration provisions in Sections 10(a) and 10(b) may be specifically enforced by either party and
submission to arbitration proceedings compelled by any court of competent jurisdiction. Employer and Executive further acknowledge and agree that the decision of the arbitrators may be specifically enforced by either party in any court of competent
jurisdiction. 

  

	 	(d)	Notwithstanding the arbitration provisions set forth above, Executive and Employer acknowledge and agree that nothing in this Agreement shall be construed to require
the arbitration of any claim or controversy arising under the NON-DISCLOSURE, THE NON-INTERFERENCE, AND THE NON-COMPETITION provisions set forth at Sections 13 through 15 of this Agreement. These provisions shall be enforceable by any court
of competent jurisdiction and shall not be subject to ARBITRATION pursuant to Sections 10(a)-(c). Executive and Employer further acknowledge and agree that nothing in this Agreement shall be construed to require arbitration of any claim for
workers’ compensation benefits (although any claims arising under Tex. Labor Code § 450.001 shall be subject to arbitration) or unemployment compensation. 

  

	11.	Assistance in Litigation. Executive shall make herself available, upon the request of Employer, to testify or otherwise assist in litigation, arbitration
or other disputes involving Employer, or any of its directors, officers, employees, subsidiaries or parent corporations, during the term of this Agreement and at any time following the termination of this Agreement. In the event that Executive is
requested to make herself available pursuant to this Section 11 following her Termination of Employment with Employer, Employer shall pay Executive for her time spent on such matters at a per diem rate equal to 1/365 of her annual rate
of base salary immediately prior to her Termination of Employment. Additionally, Employer will reimburse Executive for reasonable out-of-pocket expenses (including travel costs, lodging and meals) incurred in connection with Executive’s
assistance provided hereunder. 

  

			
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	12.	Notice. Any notice or communication required or permitted to be given to the parties shall be delivered personally or sent by United States registered or
certified mail, postage prepaid and return receipt requested, and addressed or delivered as follows, or to such other address as the party addressed may have substituted by notice pursuant to this Section. Any notice given pursuant to this
Section 12 will be effective immediately upon delivery if delivered in person or three (3) days after mailing deposited in the United States addressed as set forth below: 

  

	 	(a)	If to Employer: 

 PlainsCapital
Corporation 
 2323 Victory Avenue, Suite 1400 
 Dallas, TX 75219 
 Attention: General Counsel 
  

	 	(b)	If to Executive: 

 Roseanna
McGill 
 2323 Victory Avenue, Suite 1400 
 Dallas, TX 75219 
  

	13.	Non-Disclosure of Confidential Information. Employer agrees to provide Executive access to Employer’s Confidential Information, which information
will be necessary to Executive’s performance of the duties and responsibilities contemplated herein. Executive acknowledges that such Confidential Information is a valuable asset of the Employer and must be protected. Executive agrees that
during the term of this Agreement and thereafter, Executive will not disclose any Confidential Information or data concerning the business, such as, its plans, strategies, financial information or customers of Employer that will be disclosed to
Executive or acquired by Executive in confidence at any time during the period of her employment. 

  

	 	i.	Upon termination, Executive will not remove physically, electronically or in any other way any Confidential Information from premises owned, used or leased by the
Employer. Upon any termination of Executive’s employment, all Confidential Information (including all copies) will be turned over immediately to Executive’s supervisor or other designee at the Employer, and Executive shall retain no
copies, summaries or notes thereof. 

  

	 	ii.	Executive agrees that, during the course of Executive’s employment with the Employer and after Executive ceases to be employed by Employer for any reason,
Executive will not, directly or indirectly, for Executive’s own or another’s benefit, use, make known or divulge any Employer Confidential Information. 

  

	14.	 Non-Interference. Executive covenants and agrees that, for a period of twelve (12) months subsequent to the termination of this
Agreement, whether such termination occurs at the insistence of Employer or Executive, Executive shall not recruit, hire or attempt to recruit or hire other employees, directly or by assisting other employees of Employer, nor shall Executive contact
or communicate with any other employees of Employer for the

  

			
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purpose of inducing other employees to terminate their employment with Employer. For purposes of this covenant, “other employees” shall refer to employees who are still actively
employed by or doing business with Employer at the time of the attempted recruiting or hiring. 

  

	15.	Non-Competition. Ancillary to her promise to protect the Confidential Information of Employer, Executive agrees that during the Term of this Agreement,
and for a period of one (1) year following her Termination of Employment and the termination of this Agreement, Executive shall not engage or invest in, own, manage, operate, finance, control, participate in the ownership, management,
operation, financing or control of, be employed by, associated with or in any manner connected with, lend Executive’s name or any similar name to, lend Executive’s credit to or render services or advice to any business that provides
services of investment banking, consumer banking, commercial banking, financial advisory services, mortgage banking, residential mortgage brokerage, commercial mortgage brokerage, equipment leasing, personal property leasing, personal insurance,
commercial insurance, title insurance or other financial services of any type whatsoever anywhere within the state of Texas; provided, however, Executive may purchase or otherwise acquire up to (but not more than) one percent (1%) of any class
of securities of any enterprise (but without participating in the activities of such enterprise) if such securities are listed on any national or regional securities exchange or have been registered under Section 12(g) of the Securities
Exchange Act of 1934. 

 Executive further acknowledges that: 
  

	 	(a)	The services to be performed by Executive under this Agreement are of a special, unique, unusual, extraordinary and intellectual character; 

  

	 	(b)	Employer’s business is statewide in scope and its products and services are marketed throughout the state of Texas; 

  

	 	(c)	Employer competes with other businesses that are or could be located in any part of the state of Texas; and 

  

	 	(d)	The provisions of this Section 15 are reasonable and necessary to protect Employer’s business. 

  

	16.	Injunctive Relief and Additional Remedy. Executive acknowledges that the injury suffered by Employer as a result of a breach of Sections 13, 14 or
15 of this Agreement would be irreparable and that an award of money damages to Employer for such a breach would be an inadequate remedy. Consequently, Employer shall have the right, in addition to any other rights it may have, to obtain relief
to restrain any breach or threatened breach or otherwise to specifically enforce Sections 13, 14 and 15 of this Agreement, and Employer will not be obligated to post bond or other security in seeking such relief. Without limiting
Employer’s rights under this Section 16 or any other remedies of Employer, if Executive breaches the provisions of Section 13, 14 or 15, Employer shall have the right to cease making payments otherwise due to Executive
under this Agreement. 

  

			
	Employment Agreement	  	Page 13

	17.	Waiver Relating to Modification Upon Participation in the TARP. If at any time during the term of this Agreement, the United States Department of Treasury
owns any debt or equity securities of the Company in connection with the Company’s participation in TARP, Employer may modify Executive’s compensation or benefits, including without limitation, the compensation and benefits described in
Sections 3, 5, and 6, to the extent such modifications are required to comply with the regulations issued by the Department of Treasury in connection with TARP, and Executive waives any claims she may have against the United States or
Employer relating to or arising out of any such modifications. Executive agrees and understands that this Section 17 may require modification of the compensation, bonus, incentive and other benefit plans, arrangements, policies and
agreements (including so called “golden parachute” agreements) that she has with Employer as they relate to the period the United States Department of Treasury holds any equity or debt securities of the Company acquired through TARP (the
“TARP Period”). The waiver described in this Section 17 includes all claims Executive may have under the laws of the United States or any state related to the requirements imposed by the aforementioned regulation,
including without limitation a claim for any compensation or other payments Executive would receive, any challenge to the process by which the regulation was adopted and any tort or constitutional claim about the effect of these regulations on
Executive’s employment relationship. The parties agree that any modifications made to Executive’s compensation and benefits pursuant to this Section 17 shall be of no further force or effect with respect to compensation and
benefits earned after the date such modifications are no longer required for purposes of complying with the aforementioned regulations, and that Executive’s compensation and benefits shall be returned to the level of compensation and benefits
as in effect immediately prior to the effective date of such modifications; provided that, Executive shall not be entitled to receive any compensation and benefits that, but for the modifications required by this Section 17, would have
been paid during the TARP Period. 

  

	18.	Binding Agreement and Successors. This Agreement shall inure to the benefit of and be enforceable by Executive’s and Employer’s respective
personal or legal representatives, executors, administrators, assigns, successors, heirs, distributees, devisees and legatees. If Executive should die while any amounts would still be payable to her hereunder if she had continued to live, all such
amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to her devisee, legatee or other designee, or, if there be no such designee, to her estate. In the event of a Change in Control, Employer shall
require any successor (whether direct or indirect, by purchase, merger consolidation or otherwise) to all or substantially all of the business and/or assets of Employer, by agreement in form and substance satisfactory to Executive, expressly to
assume and agree to perform this Agreement in the same manner and to the same extent that Employer would be required to perform it if no such succession had taken place. 

  

			
	Employment Agreement	  	Page 14

	19.	No Mitigation of Amounts Payable Hereunder. Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by
seeking other employment or otherwise, nor shall the amount of any payment provided for in this Agreement be reduced by any compensation earned by Executive as the result of employment (not in violation of Section 15 of this Agreement)
by another employer after the date of termination or otherwise. 

  

	20.	Captions. The captions of this Agreement are inserted for convenience and are not part of the Agreement. 

  

	21.	Severability. In case of any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal or
unenforceable in any other respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement. This Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been a
part of the Agreement and there shall be deemed substituted therefor such other provision as will most nearly accomplish the intent of the parties to the extent permitted by the applicable law. 

  

	22.	Amendment. Except as otherwise provided herein, this Agreement may not be amended or modified at any time except by a written instrument approved by the
Board, and executed by Employer and Executive. Any attempted amendment or modification without such approval and execution shall be null and void ab initio and of no effect. Notwithstanding the foregoing provisions of this Section 22,
the Board may change or modify this Agreement without Executive’s consent or signature if the Board determines, in its sole discretion, that such change or modification is required (a) for purposes of compliance with or exemption from the
requirements of Section 409A, or (b) for purposes of compliance with TARP. 

  

	23.	No Waiver. No waiver by either party at any time of any breach by the other party of, or compliance with, any condition or provision of this Agreement to
be performed by the other party shall be deemed a waiver of similar or dissimilar provisions or conditions at any time. 

  

	24.	Survival of Provisions. The covenants and agreements of the parties set forth in Sections 8 through 19 are of a continuing nature and shall survive
the expiration, termination or cancellation of this Agreement, regardless of the reason therefor. 

  

	25.	Counterparts. This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original.

  

	26.	 Section 409A. The parties hereto intend this Agreement to be exempt from Section 409A under the short-term deferral exception
(within the meaning set forth in Treasury Regulation Section 1.409A-1(b)(4)) and the Agreement will be interpreted in a manner intended to comply with such intent. In the event that it is reasonably determined by Employer or Executive that, as
a result of Section 409A, any of the payments that Executive is entitled to under the terms of this Agreement or any nonqualified deferred

  

			
	Employment Agreement	  	Page 15

	 	 
compensation plan (as defined under Section 409A) may not be made at the time contemplated by the terms hereof or thereof, as the case may be, without causing Executive to be subject to an
income tax penalty and interest, Employer will make such payment (with interest thereon) on the first day that would not result in Executive incurring any tax liability under Section 409A. In addition, other provisions of this Agreement or any
other plan notwithstanding, Employer shall have no right to accelerate any such payment or to make any such payment as the result of an event if such payment would, as a result, be subject to the tax imposed by Section 409A.

  

	27.	Six Month Delay. To the extent (i) any payments to which Executive becomes entitled under this Agreement, or any agreement or plan referenced herein,
in connection with Executive’s Termination of Employment with Employer constitute deferred compensation subject to Section 409A; and (ii) Executive is deemed at the time of her Termination of Employment to be a “specified
employee” under Section 409A, then such payments (other than any payments permitted by Section 409A to be paid within six (6) months of Executive’s Termination of Employment) shall not be made until the earlier of
(x) the first day of the seventh month following Executive’s Termination of Employment or (y) the date of Executive’s death following such Termination of Employment. During any period that payment or payments to Executive are
deferred pursuant to the foregoing, Executive shall be entitled to interest on the deferred payment or payments at a per annum rate equal to Federal-Funds rate as published in The Wall Street Journal on the date of Executive’s
Termination of Employment with Employer. Upon the expiration of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a single sum or in installments) in the absence of this
Section 27 (together with accrued interest thereon) shall be paid to Executive or Executive’s beneficiary in one lump sum. 

  

			
	Executive:	 	 /s/ Roseanna McGill

		 	Roseanna McGill

			
		
	Date:	 	 March 18, 2010

			
	
	PLAINSCAPITAL CORPORATION
		
	By:	 	 /s/ Alan B. White

		 	Alan White
		 	Its: Chief Executive Officer

			
		
	Date:	 	 March 18, 2010

  

			
	Employment Agreement	  	Page 16Long -Term Incentive Plan

 Exhibit 10.2 
 PLAINSCAPITAL CORPORATION 
 2010 LONG-TERM INCENTIVE
PLAN 
 The PlainsCapital Corporation 2010 Long-Term Incentive Plan (the “Plan”) was adopted by the
Board of Directors of PlainsCapital Corporation, a Texas corporation (the “Company”), effective as of March 18, 2010 (the “Effective Date”). 
 ARTICLE 1 
 PURPOSE 
 The purpose of the Plan is to attract and retain the services of key employees and Outside Directors
of the Company and its Subsidiaries and to provide such persons with a proprietary interest in the Company through the granting of nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards,
dividend equivalent rights, and other awards, whether granted singly, or in combination, or in tandem, that will 
 (a) increase the interest of such persons in the Company’s welfare; 
 (b) furnish an incentive to
such persons to continue their services for the Company or its Subsidiaries; and 
 (c) provide a means through
which the Company may attract able persons as Employees and Outside Directors. 
 With respect to Reporting Participants, the
Plan and all transactions under the Plan are intended to comply with all applicable conditions of Rule 16b-3 promulgated under the Securities Exchange Act of 1934 (the “1934 Act”). To the extent any provision of the Plan or
action by the Committee fails to so comply, such provision or action shall be deemed null and void ab initio, to the extent permitted by law and deemed advisable by the Committee. 
 ARTICLE 2 
 DEFINITIONS 
 For the purpose of the Plan, unless the context requires otherwise, the following terms shall have the meanings indicated: 
 2.1 “Award” means the grant of any Nonqualified Stock Option, Reload Option, Restricted Stock, SAR, Restricted Stock
Units, Performance Award, Dividend Equivalent Right or Other Award, whether granted singly or in combination or in tandem (each individually referred to herein as an “Incentive”). 
 2.2 “Award Agreement” means a written agreement between a Participant and the Company which sets out the terms of
the grant of an Award. 
 2.3 “Award Period” means the period set forth in the Award Agreement during
which one or more Incentives granted under an Award may be exercised. 
 2.4 “Board” means the board of
directors of the Company. 

 2.5 “Change in Control” means any of the following, except as
otherwise provided herein: (i) any consolidation, merger or share exchange of the Company in which the Company is not the continuing or surviving corporation or pursuant to which shares of the Company’s Common Stock would be converted into
cash, securities or other property, other than a consolidation, merger or share exchange of the Company in which the holders of the Company’s Common Stock immediately prior to such transaction have the same proportionate ownership of Common
Stock of the surviving corporation immediately after such transaction; (ii) any sale, lease, exchange or other transfer (excluding transfer by way of pledge or hypothecation) in one transaction or a series of related transactions, of all or
substantially all of the assets of the Company; (iii) the shareholders of the Company approve any plan or proposal for the liquidation or dissolution of the Company; (iv) the cessation of control (by virtue of their not constituting a
majority of directors) of the Board by the individuals (the “Continuing Directors”) who (x) at the date of this Plan were directors or (y) become directors after the date of this Plan and whose election or
nomination for election by the Company’s shareholders was approved by a vote of at least two-thirds of the directors then in office who were directors at the date of this Plan or whose election or nomination for election was previously so
approved; (v) the acquisition of beneficial ownership (within the meaning of Rule 13d-3 under the 1934 Act) of a majority of the voting power of the Company’s outstanding voting securities by any person or group (as such term is used in
Rule 13d-5 under the 1934 Act) who beneficially owned less than a majority of the voting power of the Company’s outstanding voting securities on the date of this Plan; provided, however, that notwithstanding the foregoing, an
acquisition shall not constitute a Change in Control hereunder if the acquirer is (x) a trustee or other fiduciary holding securities under an employee benefit plan of the Company and acting in such capacity, (y) a Subsidiary of the
Company or a corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of voting securities of the Company or (z) any other person whose acquisition of shares of
voting securities is approved in advance by a majority of the Continuing Directors; or (vi) in a Title 11 bankruptcy proceeding, the appointment of a trustee or the conversion of a case involving the Company to a case under Chapter 7.

 Notwithstanding the foregoing provisions of this Section 2.5, in the event an Award issued under the Plan is
subject to Section 409A of the Code, then, in lieu of the foregoing definition and to the extent necessary to comply with the requirements of Section 409A of the Code, the definition of “Change in Control” for purposes of such
Award shall be as follows: 
 “Change in Control” of the Company occurs upon a change in the
Company’s ownership, its effective control or the ownership of a substantial portion of its assets, as follows: 
 (a) Change in Ownership. A change in ownership of the Company occurs on the date that any “Person” (as defined in Section 2.5(d) below), other than (i) the Company or any of its subsidiaries, (ii) a
trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates, (iii) an underwriter temporarily holding stock pursuant to an offering of such stock, or (iv) a corporation owned,
directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of the Company’s stock, acquires ownership of the Company’s stock that, together with stock held by such Person,
constitutes more than 50% of the total fair market value or total voting power of the Company’s stock. However, if any Person is considered to own already more than 50% of the total fair market value or total voting power of the Company’s
stock, the acquisition of additional stock by the same Person is not considered to be a Change of Control. In addition, if any Person has effective control of the Company through ownership of 30% or more of the total voting power of the
Company’s stock, as discussed in paragraph (b) below, the acquisition of additional control of the Company by the same Person is not considered to cause a Change in Control pursuant to this paragraph (a); or 
  

 2 

 (b) Change in Effective Control. Even though the Company may not have
undergone a change in ownership under paragraph (a) above, a change in the effective control of the Company occurs on either of the following dates: 
 (i) the date that any Person acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person) ownership of the Company’s stock possessing 30% or
more of the total voting power of the Company’s stock. However, if any Person owns 30% or more of the total voting power of the Company’s stock, the acquisition of additional control of the Company by the same Person is not considered to
cause a Change in Control pursuant to this subparagraph (b)(i); or 
 (ii) the date during any 12-month period
when a majority of members of the Board is replaced by directors whose appointment or election is not endorsed by a majority of the Board before the date of the appointment or election; provided, however, that any such director shall not be
considered to be endorsed by the Board if his or her initial assumption of office occurs as a result of an actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 
 (c) Change in Ownership of Substantial Portion of Assets. A change in the ownership of a substantial portion of the
Company’s assets occurs on the date that a Person acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person) assets of the Company, that have a total gross fair market value equal to
at least 40% of the total gross fair market value of all of the Company’s assets immediately before such acquisition or acquisitions. However, there is no Change in Control when there is such a transfer to (i) a shareholder of the Company
(immediately before the asset transfer) in exchange for or with respect to the Company’s stock; (ii) an entity, at least 50% of the total value or voting power of the stock of which is owned, directly or indirectly, by the Company;
(iii) a Person that owns directly or indirectly, at least 50% of the total value or voting power of the Company’s outstanding stock; or (iv) an entity, at least 50% of the total value or voting power of the stock of which is owned by
a Person that owns, directly or indirectly, at least 50% of the total value or voting power of the Company’s outstanding stock. 
 (d) Definitions. For purposes of subparagraphs (a), (b) and (c) above: 
 (i) “Person” shall have the meaning given in Section 7701(a)(1) of the Internal Revenue Code of 1986, as amended (the “Code”). Person shall include more than one
Person acting as a group as defined by the Final Treasury Regulations issued under Section 409A of the Code. 
 (ii) “Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Securities Exchange Act of 1934, as amended. 
 (e) Interpretation. The provisions of this Section 2.5 shall be interpreted in accordance with the
requirements of the Final Treasury Regulations under Code Section 409A, it being the intent of the parties that this Section 2.5 shall be in compliance with the requirements of said Code Section and said Regulations. 
 2.6 “Code” means the Internal Revenue Code of 1986, as amended. 
 2.7 “Committee” means the committee appointed or designated by the Board to administer the Plan in accordance with
Article 3 of this Plan. 
  

 3 

 2.8 “Common Stock” means the original common stock, par value $0.001
per share, which the Company is currently authorized to issue or may in the future be authorized to issue, or any securities into which or for which the common stock of the Company may be converted or exchanged, as the case may be, pursuant to the
terms of this Plan. 
 2.9 “Company” means PlainsCapital Corporation, a Texas corporation, and any
successor entity. 
 2.10 “Date of Grant” means the effective date on which an Award is made to a
Participant as set forth in the applicable Award Agreement. 
 2.11 “Dividend Equivalent Right” means
the right of the holder thereof to receive credits based on the cash dividends that would have been paid on the shares of Common Stock specified in the Award if such shares were held by the Participant to whom the Award is made. 
 2.12 “EESA” means the Emergency Economic Stabilization Act of 2008, as amended by the American Recovery and
Reinvestment Act of 2009. 
 2.13 “Employee” means common law employee (as defined in accordance with
the Regulations and Revenue Rulings then applicable under Section 3401(c) of the Code) of the Company or any Subsidiary of the Company. 
 2.14 “Fair Market Value” means, as of a particular date, (a) if the shares of Common Stock are listed on any established national securities exchange, the closing sales price
per share of Common Stock on the consolidated transaction reporting system for the principal securities exchange for the Common Stock on that date, or, if there shall have been no such sale so reported on that date, on the last preceding date on
which such a sale was so reported, (b) if the shares of Common Stock are not so listed but are quoted on the Nasdaq National Market System, the closing sales price per share of Common Stock on the Nasdaq National Market System on that date, or,
if there shall have been no such sale so reported on that date, on the last preceding date on which such a sale was so reported, (c) if the Common Stock is not so listed or quoted, the mean between the closing bid and asked price on that date,
or, if there are no quotations available for such date, on the last preceding date on which such quotations shall be available, as reported by Nasdaq, or, if not reported by Nasdaq, by the National Quotation Bureau, Inc., or (d) if none of the
above is applicable, such amount as may be determined by the Committee (acting on the advice of an Independent Third Party, should the Committee elect in its sole discretion to utilize an Independent Third Party for this purpose), in good faith, to
be the fair market value per share of Common Stock. The determination of Fair Market Value shall, where applicable, be in compliance with Section 409A of the Code. 
 2.15 “Highly Compensated Employee” means any of the five most highly compensated employees of the Company, as determined in the Committee’s sole discretion, in accordance with
the rules and regulations promulgated under EESA, or any other employee who is determined, in the Committee’s sole discretion, to be subject to the bonus restrictions under 31 CFR §30.10 or any subsequent guidance issued pursuant to TARP.

 2.16 “Independent Third Party” means an individual or entity independent of the Company having
experience in providing investment banking or similar appraisal or valuation services and with expertise generally in the valuation of securities or other property for purposes of this Plan. The Committee may utilize one or more Independent Third
Parties. 
 2.17 “Incentive” is defined in Section 2.1 hereof. 
  

 4 

 2.18 “Incentive Stock Option” means an incentive stock option within
the meaning of Section 422 of the Code. 
 2.19 “Nonqualified Stock Option” means a nonqualified
stock option, granted pursuant to this Plan, which is not an Incentive Stock Option. 
 2.20 “Option
Price” means the price which must be paid by a Participant upon exercise of a Stock Option to purchase a share of Common Stock. 
 2.21 “Other Award” means an Award issued pursuant to Section 6.8 hereof. 
 2.22 “Outside Director” means a director of the Company who is not an Employee. 
 2.23 “Participant” means an Employee or Outside Director of the Company or a Subsidiary to whom an Award is granted under this Plan. 
 2.24 “Plan” means this PlainsCapital Corporation 2010 Long-Term Incentive Plan, as amended from time to time.

 2.25 “Performance Award” means an Award hereunder of cash, shares of Common Stock, units or rights
based upon, payable in, or otherwise related to, Common Stock pursuant to Section 6.6 hereof. 
 2.26
“Performance Goal” means any of the goals set forth in Section 6.9 hereof. 
 2.27
“Reload Stock Option” means a Nonqualified Stock Option granted pursuant to Section 9.3(c) hereof. 
 2.28 “Reporting Participant” means a Participant who is subject to the reporting requirements of Section 16 of the 1934 Act. 
 2.29 “Restricted Stock” means shares of Common Stock issued or transferred to a Participant pursuant to Section 6.3 of this Plan which are subject to restrictions or
limitations set forth in this Plan and in the related Award Agreement. 
 2.30 “Restricted Stock Units”
means units awarded to Participants pursuant to Section 6.5 hereof, which are convertible into Common Stock at such time as such units are no longer subject to restrictions as established by the Committee. 
 2.31 “Retirement” means any Termination of Service solely due to retirement upon or after attainment of age
sixty-five (65), or permitted early retirement as determined by the Committee. 
 2.32 “SAR” or
“stock appreciation right” means the right to receive an amount, in cash and/or Common Stock, equal to the excess of the Fair Market Value of a specified number of shares of Common Stock as of the date the SAR is exercised
(or, as provided in the Award Agreement, converted) over the SAR Price for such shares. 
 2.33 “SAR
Price” means the exercise price or conversion price of each share of Common Stock covered by a SAR, determined on the Date of Grant of the SAR. 
 2.34 “Stock Option” means a Nonqualified Stock Option or a Reload Stock Option. 
  

 5 

 2.35 “Subsidiary” means (i) any corporation in an unbroken
chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing a majority of the total combined voting power of all classes of stock in one of the other
corporations in the chain, (ii) any limited partnership, if the Company or any corporation described in item (i) above owns a majority of the general partnership interest and a majority of the limited partnership interests entitled to vote
on the removal and replacement of the general partner, and (iii) any partnership or limited liability company, if the partners or members thereof are composed only of the Company, any corporation listed in item (i) above or any limited
partnership listed in item (ii) above. “Subsidiaries” means more than one of any such corporations, limited partnerships, partnerships or limited liability companies. 
 2.36 “TARP” means the U.S. Department of Treasury’s Troubled Asset Relief Program. 
 2.37 “Termination of Service” occurs when a Participant who is (i) an Employee of the Company or any Subsidiary
ceases to serve as an Employee of the Company and its Subsidiaries, for any reason; or (ii) an Outside Director of the Company or a Subsidiary ceases to serve as a director of the Company and its Subsidiaries for any reason. Except as may be
necessary or desirable to comply with applicable federal or state law, a “Termination of Service” shall not be deemed to have occurred when a Participant who is an Employee becomes an Outside Director or vice versa. Notwithstanding the
foregoing provisions of this Section 2.37, in the event an Award issued under the Plan is subject to Section 409A of the Code, then, in lieu of the foregoing definition and to the extent necessary to comply with the requirements of
Section 409A of the Code, the definition of “Termination of Service” for purposes of such Award shall be the definition of “separation from service” provided for under Section 409A of the Code and the regulations or
other guidance issued thereunder. 
 2.38 “Total and Permanent Disability” means a Participant is
qualified for long-term disability benefits under the Company’s or Subsidiary’s disability plan or insurance policy; or, if no such plan or policy is then in existence or if the Participant is not eligible to participate in such plan or
policy, that the Participant, because of a physical or mental condition resulting from bodily injury, disease, or mental disorder, is unable to perform his or her duties of employment for a period of six (6) continuous months, as determined in
good faith by the Committee, based upon medical reports or other evidence satisfactory to the Committee. Notwithstanding the foregoing provisions of this Section 2.38, in the event an Award issued under the Plan is subject to
Section 409A of the Code, then, in lieu of the foregoing definition and to the extent necessary to comply with the requirements of Section 409A of the Code, the definition of “Total and Permanent Disability” for purposes of such
Award shall be the definition of “disability” provided for under Section 409A of the Code and the regulations or other guidance issued thereunder. 
 ARTICLE 3 
 ADMINISTRATION 
 3.1 General Administration; Establishment of Committee. Subject to the terms of this Article 3, the Plan shall be
administered by the Board or such committee of the Board as is designated by the Board to administer the Plan (the “Committee”). The Committee shall consist of one or more persons. Any member of the Committee may be removed
at any time, with or without cause, by resolution of the Board. Any vacancy occurring in the membership of the Committee may be filled by appointment by the Board. At any time there is no Committee to administer the Plan, any references in this Plan
to the Committee shall be deemed to refer to the Board. 
  

 6 

 The Committee shall select one of its members to act as its Chairman. A majority of the
Committee shall constitute a quorum, and the act of a majority of the members of the Committee present at a meeting at which a quorum is present shall be the act of the Committee. 
 3.2 Designation of Participants and Awards. 
 (a) The Committee or the Board shall determine and designate from time to time the eligible persons to whom Awards will be
granted and shall set forth in each related Award Agreement, where applicable, the Award Period, the Date of Grant, and such other terms, provisions, limitations, and performance requirements, as are approved by the Committee, but not inconsistent
with the Plan. The Committee shall determine whether an Award shall include one type of Incentive or two or more Incentives granted in combination or two or more Incentives granted in tandem (that is, a joint grant where exercise of one Incentive
results in cancellation of all or a portion of the other Incentive). Although the members of the Committee shall be eligible to receive Awards, all decisions with respect to any Award, and the terms and conditions thereof, to be granted under the
Plan to any member of the Committee shall be made solely and exclusively by the other members of the Committee, or if such member is the only member of the Committee, by the Board. 
 (b) Notwithstanding Section 3.2(a), to the extent permitted by applicable law, the Board may, in its discretion
and by a resolution adopted by the Board, authorize one or more officers of the Company (an “Authorized Officer”) to (i) designate one or more Employees, other than Reporting Participants, as eligible persons to whom
Awards will be granted under the Plan and (ii) determine the number of shares of Common Stock that will be subject to such Awards; provided, however, that the resolution of the Board granting such authority shall (x) specify the total
number of shares of Common Stock that may be made subject to the Awards, (y) set forth the price or prices (or a formula by which such price or prices may be determined) to be paid for the purchase of the Common Stock subject to such Awards,
and (z) not authorize an officer to designate himself as a recipient of any Award. 
 3.3 Authority of the
Committee. The Committee, in its discretion, shall (i) interpret the Plan, (ii) prescribe, amend, and rescind any rules and regulations necessary or appropriate for the administration of the Plan, (iii) establish performance goals
for an Award and certify the extent of their achievement, and (iv) make such other determinations or certifications and take such other action as it deems necessary or advisable in the administration of the Plan. Any interpretation,
determination, or other action made or taken by the Committee shall be final, binding, and conclusive on all interested parties. The Committee’s discretion set forth herein shall not be limited by any provision of the Plan, including any
provision which by its terms is applicable notwithstanding any other provision of the Plan to the contrary. 
 The Committee may
delegate to officers of the Company, pursuant to a written delegation, the authority to perform specified functions under the Plan. Any actions taken by any officers of the Company pursuant to such written delegation of authority shall be deemed to
have been taken by the Committee. 
 Notwithstanding anything herein to the contrary, grants of Awards to any Reporting
Participant and to any Highly Compensated Employee only may be made by the Compensation Committee of the Board. 
 With respect
to restrictions in the Plan that are based on the requirements of Rule 16b-3 promulgated under the 1934 Act, the rules of any exchange or inter-dealer quotation system upon which the Company’s securities are listed or quoted, or any other
applicable law, rule or restriction (collectively,

  

 7 

 
“applicable law”), to the extent that any such restrictions are no longer required by applicable law, the Committee shall have the sole discretion and authority to grant
Awards that are not subject to such mandated restrictions and/or to waive any such mandated restrictions with respect to outstanding Awards. 
 ARTICLE 4 
 ELIGIBILITY 
 Any Employee (including an Employee who is also a director or an officer) or Outside Director of the Company whose judgment, initiative, and
efforts contributed or may be expected to contribute to the successful performance of the Company is eligible to participate in the Plan; provided, however, that any Highly Compensated Employee shall not be eligible to receive any Awards under the
Plan, other than Restricted Stock or Restricted Stock Units until such Employee is no longer deemed to be a Highly Compensated Employee, as determined by the Committee in its sole discretion. The Committee, upon its own action, may grant, but shall
not be required to grant, an Award to any Employee or Outside Director of the Company or any Subsidiary. Awards may be granted by the Committee at any time and from time to time to new Participants, or to then Participants, or to a greater or lesser
number of Participants, and may include or exclude previous Participants, as the Committee shall determine. Except as required by this Plan, Awards granted at different times need not contain similar provisions. The Committee’s determinations
under the Plan (including without limitation determinations of which Employees or Outside Directors, if any, are to receive Awards, the form, amount and timing of such Awards, the terms and provisions of such Awards and the agreements evidencing
same) need not be uniform and may be made by it selectively among Participants who receive, or are eligible to receive, Awards under the Plan. 
 ARTICLE 5 
 SHARES SUBJECT TO PLAN 
 5.1 Number Available for Awards. Subject to adjustment as provided in Articles 12 and 13, the maximum number of shares of
Common Stock that may be delivered pursuant to Awards granted under the Plan is One Million (1,000,000) shares. Shares to be issued may be made available from authorized but unissued Common Stock, Common Stock held by the Company in its
treasury, or Common Stock purchased by the Company on the open market or otherwise. During the term of this Plan, the Company will at all times reserve and keep available the number of shares of Common Stock that shall be sufficient to satisfy the
requirements of this Plan. 
 5.2 Reuse of Shares. To the extent that any Award under this Plan shall be forfeited, shall
expire or be canceled, in whole or in part, then the number of shares of Common Stock covered by the Award or stock option so forfeited, expired or canceled may again be awarded pursuant to the provisions of this Plan. In the event that previously
acquired shares of Common Stock are delivered to the Company in full or partial payment of the exercise price for the exercise of a Stock Option granted under this Plan, the number of shares of Common Stock available for future Awards under this
Plan shall be reduced only by the net number of shares of Common Stock issued upon the exercise of the Stock Option. Awards that may be satisfied either by the issuance of shares of Common Stock or by cash or other consideration shall be counted
against the maximum number of shares of Common Stock that may be issued under this Plan only during the period that the Award is outstanding or to the extent the Award is ultimately satisfied by the issuance of shares of Common Stock. Awards will
not reduce the number of shares of Common Stock that may be issued pursuant to this Plan if the settlement of the Award will not require the issuance of shares of Common Stock, as, for example, a SAR that can be satisfied only by the payment of
/cash. 
  

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 ARTICLE 6 
 GRANT OF AWARDS 
 6.1 In General. 
 (a) The grant of an Award shall be authorized by the Committee and shall be evidenced by an Award Agreement setting forth the
Incentive or Incentives being granted, the total number of shares of Common Stock subject to the Incentive(s), the Option Price (if applicable), the Award Period, the Date of Grant, and such other terms, provisions, limitations, and performance
objectives, as are approved by the Committee, but (i) not inconsistent with the Plan, and (ii) to the extent an Award issued under the Plan is subject to Section 409A of the Code, in compliance with the applicable requirements of
Section 409A of the Code and the regulations or other guidance issued thereunder. The Company shall execute an Award Agreement with a Participant after the Committee approves the issuance of an Award. Any Award granted pursuant to this Plan
must be granted within ten (10) years following the date of adoption of this Plan. The grant of an Award to a Participant shall not be deemed either to entitle the Participant to, or to disqualify the Participant from, receipt of any other
Award under the Plan. 
 (b) If the Committee establishes a purchase price for an Award, the Participant must
accept such Award within a period of thirty (30) days (or such shorter period as the Committee may specify) after the Date of Grant by executing the applicable Award Agreement and paying such purchase price. 
 (c) Any Award under this Plan that is settled in whole or in part in cash on a deferred basis may provide for interest
equivalents to be credited with respect to such cash payment. Interest equivalents may be compounded and shall be paid upon such terms and conditions as may be specified by the grant. 
 6.2 Option Price. The Option Price for any share of Common Stock which may be purchased under a Nonqualified Stock Option for any
share of Common Stock may be equal to or greater than the Fair Market Value of the share on the Date of Grant. 
 6.3
Restricted Stock. If Restricted Stock is granted to or received by a Participant under an Award (including a Stock Option), the Committee shall set forth in the related Award Agreement: (i) the number of shares of Common Stock awarded,
(ii) the price, if any, to be paid by the Participant for such Restricted Stock and the method of payment of the price, (iii) the time or times within which such Award may be subject to forfeiture, (iv) specified Performance Goals of
the Company, a Subsidiary, any division thereof or any group of Employees of the Company, or other criteria, which the Committee determines must be met in order to remove any restrictions (including vesting) on such Award, and (v) all other
terms, limitations, restrictions, and conditions of the Restricted Stock, which shall be consistent with this Plan and, to the extent Restricted Stock granted under the Plan is (x) subject to Section 409A of the Code, in compliance with
the applicable requirements of Section 409A of the Code and the regulations or other guidance issued thereunder, or (y) granted to a Highly Compensated Employee, in compliance with the applicable requirements of EESA. The provisions of
Restricted Stock need not be the same with respect to each Participant. 
 (a) Legend on Shares. Each
Participant who is awarded or receives Restricted Stock shall be issued a stock certificate or certificates in respect of such shares of Common Stock. Such certificate(s) shall be registered in the name of the Participant, and shall bear an
appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock, substantially as provided in Section 16.9 of the Plan. 
  

 9 

 (b) Restrictions and Conditions. Shares of Restricted Stock shall be
subject to the following restrictions and conditions: 
 (i) Subject to the other provisions of this Plan and the
terms of the particular Award Agreements, during such period as may be determined by the Committee commencing on the Date of Grant or the date of exercise of an Award (the “Restriction Period”), the Participant shall not be
permitted to sell, transfer, pledge or assign shares of Restricted Stock. Except for these limitations, the Committee may in its sole discretion, remove any or all of the restrictions on such Restricted Stock whenever it may determine that, by
reason of changes in applicable laws or other changes in circumstances arising after the date of the Award, such action is appropriate. 
 (ii) Except as provided in sub-paragraph (i) above or in the applicable Award Agreement, the Participant shall have, with respect to his or her Restricted Stock, all of the rights of a shareholder of
the Company, including the right to vote the shares, and the right to receive any dividends thereon. Certificates for shares of Common Stock free of restriction under this Plan shall be delivered to the Participant promptly after, and only after,
the Restriction Period shall expire without forfeiture in respect of such shares of Common Stock or after any other restrictions imposed on such shares of Common Stock by the applicable Award Agreement or other agreement have expired. Certificates
for the shares of Common Stock forfeited under the provisions of the Plan and the applicable Award Agreement shall be promptly returned to the Company by the forfeiting Participant. Each Award Agreement shall require that each Participant, in
connection with the issuance of a certificate for Restricted Stock, shall endorse such certificate in blank or execute a stock power in form satisfactory to the Company in blank and deliver such certificate and executed stock power to the Company.

 (iii) The Restriction Period of Restricted Stock shall commence on the Date of Grant or the date of exercise
of an Award, as specified in the Award Agreement, and, subject to Article 13 of the Plan, unless otherwise established by the Committee in the Award Agreement setting forth the terms of the Restricted Stock, shall expire upon satisfaction of
the conditions set forth in the Award Agreement; such conditions may provide for vesting based on such Performance Goals, as may be determined by the Committee in its sole discretion. 
 (iv) Except as otherwise provided in the particular Award Agreement, upon Termination of Service for any reason during the
Restriction Period, the nonvested shares of Restricted Stock shall be forfeited by the Participant. In the event a Participant has paid any consideration to the Company for such forfeited Restricted Stock, the Committee shall specify in the Award
Agreement that either (i) the Company shall be obligated to, or (ii) the Company may, in its sole discretion, elect to, pay to the Participant, as soon as practicable after the event causing forfeiture, in cash, an amount equal to the
lesser of the total consideration paid by the Participant for such forfeited shares or the Fair Market Value of such forfeited shares as of the date of Termination of Service, as the Committee, in its sole discretion shall select. Upon any
forfeiture, all rights of a Participant with respect to the forfeited shares of the Restricted Stock shall cease and terminate, without any further obligation on the part of the Company. 
 6.4 SARs. The Committee may grant SARs to any Participant, either as a separate Award or in connection with a Stock Option. SARs
shall be subject to such terms and conditions as the Committee shall impose, provided that such terms and conditions are (i) not inconsistent with the Plan, and (ii) to the extent a SAR issued under the Plan is subject to Section 409A
of the Code, in compliance with the

  

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applicable requirements of Section 409A of the Code and the regulations or other guidance issued thereunder. The grant of the SAR may provide that the holder may be paid for the value of the
SAR either in cash or in shares of Common Stock, or a combination thereof. In the event of the exercise of a SAR payable in shares of Common Stock, the holder of the SAR shall receive that number of whole shares of Common Stock having an aggregate
Fair Market Value on the date of exercise equal to the value obtained by multiplying (i) the difference between the Fair Market Value of a share of Common Stock on the date of exercise over the SAR Price as set forth in such SAR (or other value
specified in the agreement granting the SAR), by (ii) the number of shares of Common Stock as to which the SAR is exercised, with a cash settlement to be made for any fractional shares of Common Stock. The SAR Price for any share of Common
Stock subject to a SAR may be equal to or greater than the Fair Market Value of the share on the Date of Grant. The Committee, in its sole discretion, may place a ceiling on the amount payable upon exercise of a SAR, but any such limitation shall be
specified at the time that the SAR is granted. 
 6.5 Restricted Stock Units. Restricted Stock Units may be awarded or
sold to any Participant under such terms and conditions as shall be established by the Committee, provided, however, that such terms and conditions are (i) not inconsistent with the Plan, (ii) to the extent a Restricted Stock Unit issued
under the Plan is subject to Section 409A of the Code, in compliance with the applicable requirements of Section 409A of the Code and the regulations or other guidance issued thereunder; and (iii) to the extent a Restricted Stock Unit
issued under the Plan is granted to a Highly Compensated Employee, in compliance with the applicable requirements of EESA. Restricted Stock Units shall be subject to such restrictions as the Committee determines, including, without limitation,
(a) a prohibition against sale, assignment, transfer, pledge, hypothecation or other encumbrance for a specified period; or (b) a requirement that the holder forfeit (or in the case of shares of Common Stock or units sold to the
Participant, resell to the Company at cost) such shares or units in the event of Termination of Service during the period of restriction. 
 6.6 Performance Awards. 
 (a) The Committee may grant
Performance Awards to one or more Participants. The terms and conditions of Performance Awards shall be specified at the time of the grant and may include provisions establishing the performance period, the Performance Goals to be achieved during a
performance period, and the maximum or minimum settlement values, provided that such terms and conditions are (i) not inconsistent with the Plan and (ii) to the extent a Performance Award issued under the Plan is subject to
Section 409A of the Code, in compliance with the applicable requirements of Section 409A of the Code and the regulations or other guidance issued thereunder. If the Performance Award is to be in shares of Common Stock, the Performance
Awards may provide for the issuance of the shares of Common Stock at the time of the grant of the Performance Award or at the time of the certification by the Committee that the Performance Goals for the performance period have been met; provided,
however, if shares of Common Stock are issued at the time of the grant of the Performance Award and if, at the end of the performance period, the Performance Goals are not certified by the Committee to have been fully satisfied, then,
notwithstanding any other provisions of this Plan to the contrary, the Common Stock shall be forfeited in accordance with the terms of the grant to the extent the Committee determines that the Performance Goals were not met. The forfeiture of shares
of Common Stock issued at the time of the grant of the Performance Award due to failure to achieve the established Performance Goals shall be separate from and in addition to any other restrictions provided for in this Plan that may be applicable to
such shares of Common Stock. Each Performance Award granted to one or more Participants shall have its own terms and conditions. 
 If the Committee determines, in its sole discretion, that the established performance measures or objectives are no longer suitable because of a change in the Company’s business, operations,
corporate structure, or for other reasons that the Committee deemed satisfactory, the Committee may modify the performance measures or objectives and/or the performance period. 
  

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 (b) Performance Awards may be valued by reference to the Fair Market Value
of a share of Common Stock or according to any formula or method deemed appropriate by the Committee, in its sole discretion, including, but not limited to, achievement of Performance Goals or other specific financial, production, sales or cost
performance objectives that the Committee believes to be relevant to the Company’s business and/or remaining in the employ of the Company for a specified period of time. Performance Awards may be paid in cash, shares of Common Stock, or other
consideration, or any combination thereof. If payable in shares of Common Stock, the consideration for the issuance of such shares may be the achievement of the performance objective established at the time of the grant of the Performance Award.
Performance Awards may be payable in a single payment or in installments and may be payable at a specified date or dates or upon attaining the performance objective. The extent to which any applicable performance objective has been achieved shall be
conclusively determined by the Committee. 
 6.7 Dividend Equivalent Rights. The Committee may grant a Dividend
Equivalent Right to any Participant, either as a component of another Award or as a separate Award. The terms and conditions of the Dividend Equivalent Right shall be specified by the grant. Dividend equivalents credited to the holder of a Dividend
Equivalent Right may be paid currently or may be deemed to be reinvested in additional shares of Common Stock (which may thereafter accrue additional dividend equivalents). Any such reinvestment shall be at the Fair Market Value at the time thereof.
Dividend Equivalent Rights may be settled in cash or shares of Common Stock, or a combination thereof, in a single payment or in installments. A Dividend Equivalent Right granted as a component of another Award may provide that such Dividend
Equivalent Right shall be settled upon exercise, settlement, or payment of, or lapse of restrictions on, such other Award, and that such Dividend Equivalent Right granted as a component of another Award may also contain terms and conditions
different from such other Award. 
 6.8 Other Awards. The Committee may grant to any Participant other forms of Awards,
based upon, payable in, or otherwise related to, in whole or in part, shares of Common Stock, if the Committee determines that such other form of Award is consistent with the purpose and restrictions of this Plan. The terms and conditions of such
other form of Award shall be specified by the grant. Such Other Awards may be granted for no cash consideration, for such minimum consideration as may be required by applicable law, or for such other consideration as may be specified by the grant.

 6.9 Performance Goals. Awards of Restricted Stock, Restricted Stock Units, Performance Award and Other Awards (whether
relating to cash or shares of Common Stock) under the Plan may be made subject to the attainment of Performance Goals relating to one or more business criteria which, shall consist of one or more or any combination of the following criteria: cash
flow; cost; revenues; sales; ratio of debt to debt plus equity; net borrowing, credit quality or debt ratings; profit before tax; economic profit; earnings before interest and taxes; earnings before interest, taxes, depreciation and amortization;
gross margin; earnings per share (whether on a pre-tax, after-tax, operational or other basis); operating earnings; capital expenditures; expenses or expense levels; economic value added; ratio of operating earnings to capital spending or any other
operating ratios; free cash flow; net profit; net interest margin; net sales; net asset value per share; the accomplishment of mergers, acquisitions, dispositions, public offerings or similar extraordinary business transactions; sales growth; price
of the Company’s Common Stock; return on assets, equity or shareholders’ equity; market share; or total return to shareholders (“Performance Criteria”). Any Performance Criteria may be used to measure the
performance of the Company as a whole or any business unit of the Company and may be measured relative to a peer group or index. Any Performance Criteria may include or exclude (i) extraordinary, unusual and/or non-recurring

  

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items of gain or loss, (ii) gains or losses on the disposition of a business, (iii) changes in tax or accounting regulations or laws, (iv) the effect of a merger or acquisition, as
identified in the Company’s quarterly and annual earnings releases, or (v) other similar occurrences. In all other respects, Performance Criteria shall be calculated in accordance with the Company’s financial statements, under
generally accepted accounting principles, or under a methodology established by the Committee prior to the issuance of an Award which is consistently applied and identified in the audited financial statements, including footnotes, or the
Compensation Discussion and Analysis section of the Company’s annual report. 
 6.10 Tandem Awards. The Committee
may grant two or more Incentives in one Award in the form of a “tandem Award,” so that the right of the Participant to exercise one Incentive shall be canceled if, and to the extent, the other Incentive is exercised. For example, if a
Stock Option and a SAR are issued in a tandem Award, and the Participant exercises the SAR with respect to 100 shares of Common Stock, the right of the Participant to exercise the related Stock Option shall be canceled to the extent of 100 shares of
Common Stock. 
 ARTICLE 7 
 OUTSIDE DIRECTOR GRANTS 
 7.1 Automatic Grants. Subject to the terms
and conditions of this Plan, each Outside Director of the Company who does not elect to decline to participate in the Plan shall automatically be granted Restricted Stock as follows: (i) as of the Effective Date, each Outside Director shall
automatically be granted a number of shares of Restricted Stock having an aggregate Fair Market Value of the Common Stock on the Date of Grant equal to $15,000, so long as such Outside Director has not suffered a Termination of Service as an Outside
Director prior to such date; and (ii) on the date of the Company’s annual shareholder meeting that occurs in each year after the year in which Effective Date occurs, each Outside Director shall automatically be granted a number of shares
of Restricted Stock having an aggregate Fair Market Value of the Common Stock on the Date of Grant equal to $15,000, so long as such Outside Director has not suffered a Termination of Service as an Outside Director prior to such date.
Notwithstanding the foregoing, in the case of any grant of Restricted Stock made pursuant to this Section 7.1, (i) such grant shall only be made if the number of shares subject to future grant under this Section 7.1 is
sufficient to make all automatic grants required to be made pursuant to this Section 7.1 on such Date of Grant; and (ii) each such grant to an Outside Director shall be reduced by the number of shares of Restricted Stock granted to
such Outside Director pursuant to the PlainsCapital Corporation 2009 Long-Term Incentive Plan for such year. 
 7.2 Vesting
and Forfeiture. Subject to certain restrictions and conditions set forth in this Plan, any Restricted Stock granted pursuant to this Article 7 shall be vested as follows: one hundred percent (100%) of the total number of shares of
Common Stock subject to the Restricted Stock shall vest on the first anniversary of the Date of Grant, provided the Outside Director is providing services to the Company or a Subsidiary on such date. Notwithstanding the foregoing, in the event of an
Outside Director’s Termination of Service due to his or her death or Total and Permanent Disability, all unvested shares of Restricted Stock shall immediately become one hundred percent (100%) vested. Notwithstanding the foregoing, in the
event of an Outside Director’s Termination of Service for any reason other than due to his death or Total and Permanent Disability, all unvested shares shall immediately be forfeited. 
  

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 ARTICLE 8 
 AWARD PERIOD; VESTING 
 8.1 Award Period. Subject to the other
provisions of this Plan, the Committee may, in its discretion, provide that an Incentive may not be exercised in whole or in part for any period or periods of time or beyond any date specified in the Award Agreement. Except as provided in the Award
Agreement, an Incentive may be exercised in whole or in part at any time during its term. The Award Period for an Incentive shall be reduced or terminated upon Termination of Service. No Incentive granted under the Plan may be exercised at any time
after the end of its Award Period. No portion of any Incentive may be exercised after the expiration of ten (10) years from its Date of Grant. 
 8.2 Vesting. The Committee, in its sole discretion, may determine that an Incentive will be immediately vested in whole or in part, or that all or any portion may not be vested until a date, or
dates, subsequent to its Date of Grant, or until the occurrence of one or more specified events, subject in any case to the terms of the Plan. If the Committee imposes conditions upon vesting, then, subsequent to the Date of Grant, the Committee
may, in its sole discretion, accelerate the date on which all or any portion of the Incentive may be vested. Notwithstanding the foregoing, any Award to a Highly Compensated Employee shall vest only in accordance with the applicable rules and
regulations promulgated under EESA. 
 ARTICLE 9 
 EXERCISE OR CONVERSION OF INCENTIVE 
 9.1 In
General. A vested Incentive may be exercised or converted, during its Award Period, subject to limitations and restrictions set forth in the Award Agreement 
 9.2 Securities Law and Exchange Restrictions. In no event may an Incentive be exercised or shares of Common Stock be issued pursuant to an Award if a necessary listing or quotation of the shares of
Common Stock on a stock exchange or inter-dealer quotation system or any registration under state or federal securities laws required under the circumstances has not been accomplished. 
 9.3 Exercise of Stock Option. 
 (a) In General. If a Stock Option is exercisable prior to the time it is vested, the Common Stock obtained on the exercise of the Stock Option shall be Restricted Stock which is subject to the
applicable provisions of the Plan and the Award Agreement. If the Committee imposes conditions upon exercise, then subsequent to the Date of Grant, the Committee may, in its sole discretion, accelerate the date on which all or any portion of the
Stock Option may be exercised. No Stock Option may be exercised for a fractional share of Common Stock. The granting of a Stock Option shall impose no obligation upon the Participant to exercise that Stock Option. 
 (b) Notice and Payment. Subject to such administrative regulations as the Committee may from time to time adopt, a
Stock Option may be exercised by the delivery of written notice to the Committee setting forth the number of shares of Common Stock with respect to which the Stock Option is to be exercised and the date of exercise thereof (the “Exercise
Date”) which shall be at least three (3) days after giving such notice unless an earlier time shall have been mutually agreed upon. On the Exercise Date, the Participant shall deliver to the Company consideration with a value equal
to the total Option Price of the shares to be purchased, payable as provided in the Award Agreement, which may provide for payment in any one or more of the following ways: (a) cash or check, bank draft, or money order payable to the order of

  

 14 

 
the Company, (b) Common Stock (including Restricted Stock) owned by the Participant on the Exercise Date, valued at its Fair Market Value on the Exercise Date, and which the Participant has
not acquired from the Company within six (6) months prior to the Exercise Date, and/or (c) in any other form of valid consideration that is acceptable to the Committee in its sole discretion. In the event that shares of Restricted Stock
are tendered as consideration for the exercise of a Stock Option, a number of shares of Common Stock issued upon the exercise of the Stock Option equal to the number of shares of Restricted Stock used as consideration therefor shall be subject to
the same restrictions and provisions as the Restricted Stock so tendered. 
 (c) Reload Stock Options. In
the event that shares of Common Stock are delivered by a Participant in payment of all or a portion of the exercise price of a Stock Option as set forth in Section 9.3(b) above and/or shares of Common Stock are delivered to or withheld
by the Company in satisfaction of the Company’s tax withholding obligations upon exercise in accordance with Section 16.6 hereof, then, subject to Article 11 hereof, the Committee may authorize the automatic grant to a
Participant so exercising a Nonqualified Stock Option, a replacement Nonqualified Stock Option, (a “Reload Stock Option”), to purchase that number of shares so delivered to or withheld by the Company, as the case may be, at
an option exercise price equal to the Fair Market Value per share of the Common Stock on the date of exercise of the original Stock Option (but not less than the par value per share of the Common Stock). The option period for a Reload Stock Option
will commence on its Date of Grant and expire on the expiration date of the original Stock Option it replaces, after which period the Reload Stock Option cannot be exercised. The Date of Grant of a Reload Stock Option shall be the date that the
Stock Option it replaces is exercised. A Reload Stock Option shall automatically vest and be exercisable in full after the expiration of six (6) months from its Date of Grant. It shall be a condition to the grant of a Reload Stock Option that
promptly after its Date of Grant, a stock option agreement shall be delivered to the Participant and executed by the Participant and the Company which sets forth the total number of shares subject to the Reload Stock Option, the option exercise
price, the option period of the Reload Stock Option and such other terms and provisions as are consistent with the Plan. 
 (d) Issuance of Certificate. Except as otherwise provided in Section 6.3 hereof (with respect to shares of Restricted Stock) or in the applicable Award Agreement, upon payment of all
amounts due from the Participant, the Company shall cause certificates for the Common Stock then being purchased to be delivered as directed by the Participant (or the person exercising the Participant’s Stock Option in the event of his death)
at its principal business office promptly after the Exercise Date. The obligation of the Company to deliver shares of Common Stock shall, however, be subject to the condition that, if at any time the Committee shall determine in its discretion that
the listing, registration, or qualification of the Stock Option or the Common Stock upon any securities exchange or inter-dealer quotation system or under any state or federal law, or the consent or approval of any governmental regulatory body, is
necessary as a condition of, or in connection with, the Stock Option or the issuance or purchase of shares of Common Stock thereunder, the Stock Option may not be exercised in whole or in part unless such listing, registration, qualification,
consent, or approval shall have been effected or obtained free of any conditions not reasonably acceptable to the Committee. 
 (e) Failure to Pay. Except as may otherwise be provided in an Award Agreement, if the Participant fails to pay for any of the Common Stock specified in such notice or fails to accept delivery
thereof, that portion of the Participant’s Stock Option and right to purchase such Common Stock may be forfeited by the Participant. 
 9.4 SARs. Subject to the conditions of this Section 9.4 and such administrative regulations as the Committee may from time to time adopt, a SAR may be exercised by the delivery
(including by

  

 15 

 
FAX) of written notice to the Committee setting forth the number of shares of Common Stock with respect to which the SAR is to be exercised and the date of exercise thereof (the
“Exercise Date”) which shall be at least three (3) days after giving such notice unless an earlier time shall have been mutually agreed upon. Subject to the terms of the Award Agreement and only if permissible under
Section 409A of the Code and the regulations or other guidance issued thereunder (or, if not so permissible, at such time as permitted by Section 409A of the Code and the regulations or other guidance issued thereunder), the Participant
shall receive from the Company in exchange therefor in the discretion of the Committee, and subject to the terms of the Award Agreement: 
 (i) cash in an amount equal to the excess (if any) of the Fair Market Value (as of the date of the exercise, or if provided in the Award Agreement, conversion, of the SAR) per share of Common Stock over
the SAR Price per share specified in such SAR, multiplied by the total number of shares of Common Stock of the SAR being surrendered; 
 (ii) that number of shares of Common Stock having an aggregate Fair Market Value (as of the date of the exercise, or if provided in the Award Agreement, conversion, of the SAR) equal to the amount of cash
otherwise payable to the Participant, with a cash settlement to be made for any fractional share interests; or 
 (iii) the Company may settle such obligation in part with shares of Common Stock and in part with cash. 
 The
distribution of any cash or Common Stock pursuant to the foregoing sentence shall be made at such time as set forth in the Award Agreement. 
 ARTICLE 10 
 AMENDMENT OR DISCONTINUANCE 
 Subject to the limitations set forth in this Article 10, the Board may at any time and from time to time, without the consent of the
Participants, alter, amend, revise, suspend, or discontinue the Plan in whole or in part; provided, however, that no amendment for which shareholder approval is required either (i) by any securities exchange or inter-dealer quotation system on
which the Common Stock is listed or traded or (ii) in order for the Plan and Incentives awarded under the Plan to continue to comply with Sections 162(m), 421, and 422 of the Code, including any successors to such Sections, or other applicable
law, shall be effective unless such amendment shall be approved by the requisite vote of the shareholders of the Company entitled to vote thereon. Any such amendment shall, to the extent deemed necessary or advisable by the Committee, be applicable
to any outstanding Incentives theretofore granted under the Plan, notwithstanding any contrary provisions contained in any Award Agreement. In the event of any such amendment to the Plan, the holder of any Incentive outstanding under the Plan shall,
upon request of the Committee and as a condition to the exercisability thereof, execute a conforming amendment in the form prescribed by the Committee to any Award Agreement relating thereto. Notwithstanding anything contained in this Plan to the
contrary, unless required by law, no action contemplated or permitted by this Article 10 shall adversely affect any rights of Participants or obligations of the Company to Participants with respect to any Incentive theretofore granted under
the Plan without the consent of the affected Participant. 
  

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 ARTICLE 11 
 TERM 
 The Plan shall be effective from the date that
this Plan is approved by the Board. Unless sooner terminated by action of the Board, the Plan will terminate on March 18, 2012, but Incentives granted before that date will continue to be effective in accordance with their terms and conditions.

 ARTICLE 12 
 CAPITAL ADJUSTMENTS 
 In the event that any dividend or other distribution
(whether in the form of cash, Common Stock, other securities, or other property), recapitalization, stock split, reverse stock split, rights offering, reorganization, merger, consolidation, split-up, spin-off, split-off, combination, subdivision,
repurchase, or exchange of Common Stock or other securities of the Company, issuance of warrants or other rights to purchase Common Stock or other securities of the Company, or other similar corporate transaction or event affects the fair value of
an Award, then the Committee shall adjust any or all of the following so that the fair value of the Award immediately after the transaction or event is equal to the fair value of the Award immediately prior to the transaction or event (i) the
number of shares and type of Common Stock (or the securities or property) which thereafter may be made the subject of Awards, (ii) the number of shares and type of Common Stock (or other securities or property) subject to outstanding Awards,
(iii) the number of shares and type of Common Stock (or other securities or property) specified as the annual per-participant limitation under Section 5.1 of the Plan, (iv) the Option Price of each outstanding Award,
(v) the amount, if any, the Company pays for forfeited shares of Common Stock in accordance with Section 6.3, and (vi) the number of or SAR Price of shares of Common Stock then subject to outstanding SARs previously granted and
unexercised under the Plan to the end that the same proportion of the Company’s issued and outstanding shares of Common Stock in each instance shall remain subject to exercise at the same aggregate SAR Price; provided however, that the number
of shares of Common Stock (or other securities or property) subject to any Award shall always be a whole number. Notwithstanding the foregoing, no such adjustment shall be made or authorized to the extent that such adjustment would cause the Plan or
any Stock Option to violate Section 409A of the Code. Such adjustments shall be made in accordance with the rules of any securities exchange, stock market, or stock quotation system to which the Company is subject. 
 Upon the occurrence of any such adjustment, the Company shall provide notice to each affected Participant of its computation of such
adjustment which shall be conclusive and shall be binding upon each such Participant. 
 ARTICLE 13 
 RECAPITALIZATION, MERGER AND CONSOLIDATION 
 13.1 No Effect on Company’s Authority. The existence of this Plan and Incentives granted hereunder shall not affect in any way the right or power of the Company or its shareholders to make or
authorize any or all adjustments, recapitalizations, reorganizations, or other changes in the Company’s capital structure and its business, or any Change in Control, or any merger or consolidation of the Company, or any issuance of bonds,
debentures, preferred or preference stocks ranking prior to or otherwise affecting the Common Stock or the rights thereof (or any rights, options, or warrants to purchase same), or the dissolution or liquidation of the Company, or any sale or
transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 
  

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 13.2 Conversion of Incentives Where Company Survives. Subject to any required action
by the shareholders and except as otherwise provided by Section 13.4 hereof or as may be required to comply with Section 409A of the Code and the regulations or other guidance issued thereunder, if the Company shall be the surviving
or resulting corporation in any merger, consolidation or share exchange, any Incentive granted hereunder shall pertain to and apply to the securities or rights (including cash, property, or assets) to which a holder of the number of shares of Common
Stock subject to the Incentive would have been entitled. 
 13.3 Exchange or Cancellation of Incentives Where Company Does
Not Survive. Except as otherwise provided by Section 13.4 hereof or as may be required to comply with Section 409A of the Code and the regulations or other guidance issued thereunder, in the event of any merger, consolidation or
share exchange pursuant to which the Company is not the surviving or resulting corporation, there shall be substituted for each share of Common Stock subject to the unexercised portions of outstanding Incentives, that number of shares of each class
of stock or other securities or that amount of cash, property, or assets of the surviving, resulting or consolidated company which were distributed or distributable to the shareholders of the Company in respect to each share of Common Stock held by
them, such outstanding Incentives to be thereafter exercisable for such stock, securities, cash, or property in accordance with their terms. 
 13.4 Cancellation of Incentives. Notwithstanding the provisions of Sections 13.2 and 13.3 hereof, and except as may be required to comply with Section 409A of the Code and the
regulations or other guidance issued thereunder, all Incentives granted hereunder may be canceled by the Company, in its sole discretion, as of the effective date of any Change in Control, merger, consolidation or share exchange, or any issuance of
bonds, debentures, preferred or preference stocks ranking prior to or otherwise affecting the Common Stock or the rights thereof (or any rights, options, or warrants to purchase same), or of any proposed sale of all or substantially all of the
assets of the Company, or of any dissolution or liquidation of the Company, by either: 
 (a) giving notice to
each holder thereof or his personal representative of its intention to cancel those Incentives for which the issuance of shares of Common Stock involved payment by the Participant for such shares, and permitting the purchase during the thirty
(30) day period next preceding such effective date of any or all of the shares of Common Stock subject to such outstanding Incentives, including in the Board’s discretion some or all of the shares as to which such Incentives would not
otherwise be vested and exercisable; or 
 (b) in the case of Incentives that are either (i) settled only in
shares of Common Stock, or (ii) at the election of the Participant, settled in shares of Common Stock, paying the holder thereof an amount equal to a reasonable estimate of the difference between the net amount per share payable in such
transaction or as a result of such transaction, and the price per share of such Incentive to be paid by the Participant (hereinafter the “Spread”), multiplied by the number of shares subject to the Incentive. In cases where
the shares constitute, or would after exercise, constitute Restricted Stock, the Company, in its discretion, may include some or all of those shares in the calculation of the amount payable hereunder. In estimating the Spread, appropriate
adjustments to give effect to the existence of the Incentives shall be made, such as deeming the Incentives to have been exercised, with the Company receiving the exercise price payable thereunder, and treating the shares receivable upon exercise of
the Incentives as being outstanding in determining the net amount per share. In cases where the proposed transaction consists of the acquisition of assets of the Company, the net amount per share shall be calculated on the basis of the net amount
receivable with respect to shares of Common Stock upon a distribution and liquidation by the Company after giving effect to expenses and charges, including but not limited to taxes, payable by the Company before such liquidation could be completed.

  

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 (c) An Award that by its terms would be fully vested or exercisable upon a
Change in Control will be considered vested or exercisable for purposes of Section 13.4(a) hereof. 
 ARTICLE 14

 LIQUIDATION OR DISSOLUTION 
 Subject to Section 13.4 hereof, in case the Company shall, at any time while any Incentive under this Plan shall be in force and remain unexpired, (i) sell all or substantially all of its
property, or (ii) dissolve, liquidate, or wind up its affairs, then each Participant shall be entitled to receive, in lieu of each share of Common Stock of the Company which such Participant would have been entitled to receive under the
Incentive, the same kind and amount of any securities or assets as may be issuable, distributable, or payable upon any such sale, dissolution, liquidation, or winding up with respect to each share of Common Stock of the Company. If the Company
shall, at any time prior to the expiration of any Incentive, make any partial distribution of its assets, in the nature of a partial liquidation, whether payable in cash or in kind (but excluding the distribution of a cash dividend payable out of
earned surplus and designated as such) and an adjustment is determined by the Committee to be appropriate to prevent the dilution of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such
manner as it may deem equitable, make such adjustment in accordance with the provisions of Article 12 hereof. 
 ARTICLE 15 
 INCENTIVES IN SUBSTITUTION FOR 
 INCENTIVES GRANTED BY OTHER ENTITIES 
 Incentives may
be granted under the Plan from time to time in substitution for similar instruments held by employees or directors of a corporation, partnership, or limited liability company who become or are about to become Employees or Outside Directors of the
Company or any Subsidiary as a result of a merger or consolidation of the employing corporation with the Company, the acquisition by the Company of equity of the employing entity, or any other similar transaction pursuant to which the Company
becomes the successor employer. The terms and conditions of the substitute Incentives so granted may vary from the terms and conditions set forth in this Plan to such extent as the Committee at the time of grant may deem appropriate to conform, in
whole or in part, to the provisions of the Incentives in substitution for which they are granted. 
 ARTICLE 16

 MISCELLANEOUS PROVISIONS 
 16.1 Investment Intent. The Company may require that there be presented to and filed with it by any Participant under the Plan, such evidence as it may deem necessary to establish that the
Incentives granted or the shares of Common Stock to be purchased or transferred are being acquired for investment and not with a view to their distribution. 
 16.2 No Right to Continued Employment. Neither the Plan nor any Incentive granted under the Plan shall confer upon any Participant any right with respect to continuance of employment by the Company
or any Subsidiary. 
 16.3 Indemnification of Board and Committee. No member of the Board or the Committee, nor any
officer or Employee of the Company acting on behalf of the Board or the Committee, shall be personally liable for any action, determination, or interpretation taken or made in good faith with respect

  

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to the Plan, and all members of the Board and the Committee, each officer of the Company, and each Employee of the Company acting on behalf of the Board or the Committee shall, to the extent
permitted by law, be fully indemnified and protected by the Company in respect of any such action, determination, or interpretation. 
 16.4 Effect of the Plan. Neither the adoption of this Plan nor any action of the Board or the Committee shall be deemed to give any person any right to be granted an Award or any other rights except as may be evidenced by an Award
Agreement, or any amendment thereto, duly authorized by the Committee and executed on behalf of the Company, and then only to the extent and upon the terms and conditions expressly set forth therein. 
 16.5 Compliance With Other Laws and Regulations. Notwithstanding anything contained herein to the contrary, the Company shall not be
required to sell or issue shares of Common Stock under any Incentive if the issuance thereof would constitute a violation by the Participant or the Company of any provisions of any law or regulation of any governmental authority or any national
securities exchange or inter-dealer quotation system or other forum in which shares of Common Stock are quoted or traded (including without limitation Section 16 of the 1934 Act); and, as a condition of any sale or issuance of shares of Common
Stock under an Incentive, the Committee may require such agreements or undertakings, if any, as the Committee may deem necessary or advisable to assure compliance with any such law or regulation. The Plan, the grant and exercise of Incentives
hereunder, and the obligation of the Company to sell and deliver shares of Common Stock, shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be
required. 
 16.6 Tax Requirements. The Company or, if applicable, any Subsidiary (for purposes of this
Section 16.6, the term “Company” shall be deemed to include any applicable Subsidiary), shall have the right to deduct from all amounts paid in cash or other form in connection with the Plan, any Federal, state,
local, or other taxes required by law to be withheld in connection with an Award granted under this Plan. The Company may, in its sole discretion, also require the Participant receiving shares of Common Stock issued under the Plan to pay the Company
the amount of any taxes that the Company is required to withhold in connection with the Participant’s income arising with respect to the Award. Such payments shall be required to be made when requested by the Company and may be required to be
made prior to the delivery of any certificate representing shares of Common Stock. Such payment may be made (i) by the delivery of cash to the Company in an amount that equals or exceeds (to avoid the issuance of fractional shares under
(iii) below) the required tax withholding obligations of the Company; (ii) if the Company, in its sole discretion, so consents in writing, the actual delivery by the exercising Participant to the Company of shares of Common Stock that the
Participant has not acquired from the Company within six (6) months prior to the date of exercise, which shares so delivered have an aggregate Fair Market Value that equals or exceeds (to avoid the issuance of fractional shares under
(iii) below) the required tax withholding payment; (iii) if the Company, in its sole discretion, so consents in writing, the Company’s withholding of a number of shares to be delivered upon the exercise of the Award, which shares so
withheld have an aggregate fair market value that equals (but does not exceed) the required tax withholding payment; or (iv) any combination of (i), (ii), or (iii). The Company may, in its sole discretion, withhold any such taxes from any other
cash remuneration otherwise paid by the Company to the Participant. The Committee may in the Award Agreement impose any additional tax requirements or provisions that the Committee deems necessary or desirable. 
 16.7 Assignability. Except as otherwise provided herein, Nonqualified Stock Options and SARs may not be transferred, assigned,
pledged, hypothecated or otherwise conveyed or encumbered other than by will or the laws of descent and distribution. The Committee may, in its discretion, authorize all or a portion of a Nonqualified Stock Option or SAR to be granted to a
Participant on terms which permit transfer by such Participant to (i) the spouse (or former spouse), children or grandchildren of the

  

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Participant (“Immediate Family Members”), (ii) a trust or trusts for the exclusive benefit of such Immediate Family Members, (iii) a partnership in which the
only partners are (1) such Immediate Family Members and/or (2) entities which are controlled by Immediate Family Members, (iv) an entity exempt from federal income tax pursuant to Section 501(c)(3) of the Code or any successor
provision, or (v) a split interest trust or pooled income fund described in Section 2522(c)(2) of the Code or any successor provision, provided that (x) there shall be no consideration for any such transfer, (y) the Award
Agreement pursuant to which such Nonqualified Stock Option or SAR is granted must be approved by the Committee and must expressly provide for transferability in a manner consistent with this Section, and (z) subsequent transfers of transferred
Nonqualified Stock Options or SARs shall be prohibited except those by will or the laws of descent and distribution. 
 Following any transfer, any such Nonqualified Stock Option and SAR shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for purposes of Articles 9, 10, 12, 14 and
16 hereof the term “Participant” shall be deemed to include the transferee. The events of Termination of Service shall continue to be applied with respect to the original Participant, following which the Nonqualified
Stock Options and SARs shall be exercisable or convertible by the transferee only to the extent and for the periods specified in the Award Agreement. The Committee and the Company shall have no obligation to inform any transferee of a Nonqualified
Stock Option or SAR of any expiration, termination, lapse or acceleration of such Stock Option or SAR. The Company shall have no obligation to register with any federal or state securities commission or agency any Common Stock issuable or issued
under a Nonqualified Stock Option or SAR that has been transferred by a Participant under this Section 16.7. 
 16.8 Use of Proceeds. Proceeds from the sale of shares of Common Stock pursuant to Incentives granted under this Plan shall constitute general funds of the Company. 
 16.9 Legend. Each certificate representing shares of Restricted Stock issued to a Participant shall bear the following legend, or a
similar legend deemed by the Company to constitute an appropriate notice of the provisions hereof (any such certificate not having such legend shall be surrendered upon demand by the Company and so endorsed): 
 On the face of the certificate: 
 “Transfer of this stock is restricted in accordance with conditions printed on the reverse of this certificate.” 
 On the reverse: 
 “The shares of stock evidenced by this certificate are subject to and transferable only in accordance with that certain PlainsCapital Corporation 2010 Long-Term Incentive Plan, a copy of which is on
file at the principal office of the Company in Dallas, Texas. No transfer or pledge of the shares evidenced hereby may be made except in accordance with and subject to the provisions of said Plan. By acceptance of this certificate, any holder,
transferee or pledgee hereof agrees to be bound by all of the provisions of said Plan.” 
  

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 The following legend shall be inserted on a certificate evidencing Common Stock issued under
the Plan if the shares were not issued in a transaction registered under the applicable federal and state securities laws: 
 “Shares of stock represented by this certificate have been acquired by the holder for investment and not for resale, transfer or distribution, have been issued pursuant to exemptions from the registration requirements of applicable
state and federal securities laws, and may not be offered for sale, sold or transferred other than pursuant to effective registration under such laws, or in transactions otherwise in compliance with such laws, and upon evidence satisfactory to the
Company of compliance with such laws, as to which the Company may rely upon an opinion of counsel satisfactory to the Company.” 
 A copy of this Plan shall be kept on file in the principal office of the Company in Dallas, Texas. 
 16.10 TARP
Compliance. Notwithstanding anything in the Plan to the contrary, no Award granted under the Plan shall be based upon performance criteria that would encourage the Participant to take any unnecessary and excessive risks that threaten the value
of the Company, and the Company expressly discourages the Participant from taking such risks. Notwithstanding the foregoing, during any period that the Company is subject to Section 111(b) of EESA: (1) in the event the Company (or the
Committee) determines, in its sole discretion, that the Participant has taken any unnecessary and excessive risks, the Company may reduce all or any portion of the Award to which the Participant has obtained a legally binding right under the Plan
and (2) in the event the Company (or the Committee) determines, in its sole discretion, that the Participant has been paid or has obtained a legally binding right to an Award under the Plan that is based on materially inaccurate financial
statements or any other materially inaccurate performance metric criteria, the Participant must, immediately after the Participant receives notice of such misstatement, forfeit any Award which has not yet vested, and return the number of shares of
Common Stock that the Participant received pursuant to any vested Award, or pay the Company the cash amount the Participant received upon sale of such shares of Common Stock, less any amount paid by the Participant, if no longer held by the
Participant. 
 *************** 
  

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 IN WITNESS WHEREOF, the Company has caused this instrument to be executed as of
March 18, 2010, by its Chief Executive Officer and Secretary pursuant to prior action taken by the Board. 
  

			
	PLAINSCAPITAL CORPORATION
		
	By:	 	 /s/ Alan B. White

	Name:	 	 Alan B. White

	Title:	 	 President and Chief Executive Officer

  

	
	Attest:
	
	 /s/ Scott J. Luedke

	Scott J. Luedke, Secretary

  

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