Document:

<PAGE>   1

                                                                    EXHIBIT 10.1

                              SHAREHOLDER AGREEMENT

         This Shareholder Agreement (the "Agreement") is made as of June 15,
1998 by and among Joseph M. Grant; Theodore H. Strauss; The Makel Family
Partnership 1995, Ltd.; G&M Partners, Ltd.; Cargill Lakes Partners, Ltd.;
Cargill Capital Partners, Ltd.; JAKS Partners, Ltd.; Gregory B. Hultgren; Rose
Hultgren; and Raleigh Hortenstine III (each a "Shareholder" and, collectively,
the "Shareholders") and Texas Capital Bancshares, Inc., a Texas corporation (the
"Company").

                              W I T N E S S E T H:

         WHEREAS, each Shareholder owns or controls the issued and outstanding
shares of capital stock of the Company set forth on Exhibit A hereto (the
"Stock"); and

         WHEREAS, the Company and each Shareholder desire to enter into certain
agreements regarding the ownership of the Stock.

         NOW, THEREFORE, in consideration of the foregoing, the mutual covenants
contained in this Agreement, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Shareholders and
the Company, intending to be legally bound, agree as follows:

                                    ARTICLE I
                                   CALL OPTION

         1.1 Grant of Option. Each Shareholder hereby severally grants to the
Company an option to require such Shareholder to sell to the Company, and each
Shareholder is obligated to sell to the Company under this option (the "Call
Option"), the percentage of its total shares of Stock set forth in Section 1.2,
if, at any time on or before December 10, 2001, such Shareholder voluntarily
resigns as an officer, director, and/or consultant, whichever is applicable to
such Shareholder, of the Company and/or Texas Capital Bank, N.A., whichever is
applicable to such Shareholder (the "Termination Date"); provided, however, that
notwithstanding anything contained herein to the contrary, (i) it is expressly
agreed and understood that the occurrence of any of the following events shall
not constitute a voluntary resignation or the occurrence of a Termination Date:
(a) death of a Shareholder; (b) permanent disability of a Shareholder; or (c)
resignation by a Shareholder at any time following a Change of Control (as
defined below), and (ii) upon the occurrence of any of the events described in
(a)-(c) above, the Stock owned by such Shareholder, immediately prior to the
occurrence of such event, shall no longer be subject to the Call Option. As used
herein, "Change of Control" shall mean the change in beneficial ownership of an
aggregate of more than 50% of the outstanding shares of common stock of the
Company, in one or more transactions, compared to the ownership of outstanding
shares of common stock of the Company as of December 31, 1998.

The Company may exercise the Call Option with respect to a Shareholder any time
after a Termination Date regarding such Shareholder and before 90 days after
such Termination Date (the "Call Option Period").

         1.2 Stock Covered by Call Option. The percentage of the total shares of
Stock held by a Shareholder that is subject to the Call Option is set forth
below:

<TABLE>
<CAPTION>
        Termination Date                                        Percentage
        ----------------                                        ----------
<S>                                                                <C>
        June 15, 1998 - December 10, 1998                          100%
        December 11, 1998- December 10, 1999                        60%
        December 11, 1999 - December 10, 2000                       40%
        December 11, 2000 - December 10, 2001                       20%
        December 11, 2001 and thereafter                             0%
</TABLE>

                                       1
<PAGE>   2

         1.3 Call Price. In the event that the Company exercises the Call
Option, the price to be paid in cash to each Shareholder for each share of Stock
purchased by the Company will be equal to the par value of such share of Stock.

         1.4 Exercise of Call Option. The Call Option may be exercised during
the Call Option Period with respect to a percentage set forth in Section 1.2 of
the number of shares of Stock set forth on Exhibit A in respect of the
Shareholder that was subject to a Termination Date (the "Subject Shares"), by
the Company giving notice to such Shareholder during the Call Option Period of
the election of the Company to exercise the Call Option, and the date of the
Call Option Closing (as defined below), which will be within at least sixty (60)
days after the date of such notice.

         1.5 Call Option Closing. The closing for the purchase and sale of all
the Subject Shares will take place at the office of the Company, on the date
specified in such notice of exercise (the "Call Option Closing"). At the Call
Option Closing, the Shareholder will deliver the certificate or certificates
representing the Subject Shares, duly endorsed in blank. In consideration
therefor, the Company will deliver to each Shareholder the purchase price, which
will be payable in immediately available funds.

                                   ARTICLE II
                                  MISCELLANEOUS

         2.1 Default. It is agreed that a violation by any party of the terms of
this Agreement cannot be adequately measured or compensated in money damages,
and that any breach or threatened breach of this Agreement by a party to this
Agreement would do irreparable injury to the nonbreaching party. It is,
therefore, agreed that in the event of any breach or threatened breach by a
party to this Agreement of the terms and conditions set forth in this Agreement,
the nondefaulting party will be entitled, in addition to any and all other
rights and remedies that it may have in law or in equity, to apply for and
obtain injunctive relief requiring the defaulting party to be restrained from
any such breach, or threatened breach or to refrain from a continuation of any
actual breach.

         2.2 Headings. The headings in this Agreement are for convenience and
reference only and are not part of the substance of this Agreement.

         2.3 Severability. The parties to this Agreement expressly agree that it
is not their intention to violate any public policy, statutory or common law
rules, regulations, or decisions of any governmental or regulatory body. If any
provision of this Agreement is judicially or administratively interpreted or
construed as being in violation of any such policy, rule, regulation, or
decision, the provision, section, sentence, word, clause, or combination thereof
causing such violation will be inoperative (and in lieu thereof there will be
inserted such provision, sentence, word, clause, or combination thereof as may
be valid and consistent with the intent of the parties under this Agreement) and
the remainder of this Agreement, as amended, will remain binding upon the
parties to this Agreement, unless the inoperative provision would cause
enforcement of the remainder of this Agreement to be inequitable under the
circumstances.

         2.4 Notices. Whenever it is provided herein that any notice, demand,
request, consent, approval, declaration, or other communication be given to or
served upon any of the parties by another, such notice, demand, request,
consent, approval, declaration, or other communication will be in writing and
will be deemed to have been validly served, given, or delivered (and "the date
of such notice" or words of similar effect will mean the date) five (5) days
after deposit in the United States mails, certified mail, return receipt
requested, with proper postage prepaid, or upon receipt thereof (whether by
non-certified mail, telecopy, telegram, express delivery, or otherwise),
whichever is earlier, and addressed to the party to be notified as follows:

         If to the Company, at:    Texas Capital Bancshares, Inc.
                                   5910 N. Central Expressway
                                   Suite 1000
                                   Dallas, Texas  75206
                                   Attn:  Joseph M. Grant
                                   Fax:  (214) 890-5895

                                       2
<PAGE>   3

        with courtesy copies to:  Patton Boggs LLP
                                      2200 Ross Avenue, Suite 900
                                      Dallas, Texas  75201
                                      Attn: Charles P. Miller, Esq.
                                      Fax:  (214) 871-2688

         If to a Shareholder, at:     the address set forth with the name
                                      of such Shareholder on the signature
                                      page hereto

or to such other address as each party may designate for itself by like notice.
Failure or delay in delivering the courtesy copies of any notice, demand,
request, consent, approval, declaration, or other communication to the persons
designated above to receive copies of the actual notice will in no way adversely
affect the effectiveness of such notice, demand, request, consent, approval,
declaration, or other communication. No notice, demand, request, consent,
approval, declaration, or other communication will be deemed to have been given
or received unless and until it sets forth all items of information required to
be set forth therein pursuant to the terms of this Agreement.

         2.5 Successors. This Agreement will be binding upon and inure to the
benefit of the parties and their respective successors and permitted assigns.

         2.6 Remedies. The failure of any party to enforce any right or remedy
under this agreement, or to enforce any such right or remedy promptly, will not
constitute a waiver thereof, nor give rise to any estoppel against such party,
nor excuse any other party from its obligations under this Agreement. Any waiver
of any such right or remedy by any party must be in writing and signed by the
party against which such waiver is sought to be enforced.

         2.7 Counterparts. This Agreement may be executed in any number of
counterparts, which will individually and collectively constitute one agreement.

         2.8 CHOICE OF LAW. THIS AGREEMENT HAS BEEN EXECUTED, DELIVERED, AND
ACCEPTED BY THE PARTIES IN WILL BE DEEMED TO HAVE BEEN MADE IN THE STATE OF
TEXAS AND WILL BE INTERPRETED AND THE RIGHTS OF THE PARTIES DETERMINED IN
ACCORDANCE WITH THE LAWS OF THE UNITED STATES APPLICABLE THERETO AND THE
INTERNAL LAWS OF THE STATE OF TEXAS APPLICABLE TO AN AGREEMENT EXECUTED,
DELIVERED AND PERFORMED THEREIN WITHOUT GIVING EFFECT TO THE CHOICE-OF-LAW RULES
THEREOF OR ANY OTHER PRINCIPLE THAT COULD REQUIRE THE APPLICATION OF THE
SUBSTANTIVE LAW OF ANY OTHER JURISDICTION.

                     [REMAINDER OF PAGE INTENTIONALLY BLANK]

                                       3
<PAGE>   4

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

                                    THE COMPANY:

                                    TEXAS CAPITAL BANCSHARES, INC.

                                    By: /s/ JOSEPH M. GRANT
                                       ---------------------
                                            Joseph M. Grant
                                            Chairman and Chief Executive Officer

                                    THE SHAREHOLDERS:

                                    /s/ JOSEPH M. GRANT
                                    ---------------------------------------
                                    Joseph M. Grant

                                    Address for Notice:

                                    3510 Turtle Creek #6C
                                    Dallas, TX 75219

                                    /s/ THEODORE H. STRAUSS
                                    ---------------------------------------
                                    Theodore H. Strauss

                                    Address for Notice:

                                    ---------------------------------------

                                    ---------------------------------------

                                    ---------------------------------------

                                    /s/ LARRY A. MAKEL
                                    ---------------------------------------
                                    Larry A. Makel, General Partner
                                    The Makel Family Partnership 1995, Ltd.

                                    Address for Notice:

                                    3833 Centenary Ave.
                                    Dallas, TX 75225

                                    /s/ GEORGE F. JONES, JR.
                                    ---------------------------------------
                                    George F. Jones, Jr., General Partner
                                    G& M Partners, Ltd.

                                    Address for Notice:

                                    3525 Turtle Creek Blvd. #12D
                                    Dallas, TX 75219

                                       4
<PAGE>   5

                                    /s/ C. KEITH CARGILL
                                    --------------------------------------
                                    C. Keith Cargill, President
                                    Cargill Lakes, Inc., General Partner
                                    Cargill Lakes Partners, Ltd.

                                    Address for Notice:

                                    1204 Bowie Ct.
                                    Southlake, TX 76092

                                    /s/ DAVID L. CARGILL
                                    --------------------------------------
                                    David L. Cargill, General Partner
                                    Cargill Capital Partners, Ltd.

                                    Address for Notice:

                                    5943 Lindenshire Lane
                                    Dallas, TX 75230

                                    /s/ VINCE A. ACKERSON
                                    --------------------------------------
                                    Vince A. Ackerson, President
                                    JAKS Company, Inc., General Partner
                                    JAKS Partners, Ltd.

                                    Address for Notice:

                                    604 Bellmead Ct.
                                    Allen, TX 75013

                                    /s/ GREGORY B. HULTGREN
                                    --------------------------------------
                                    Gregory B. Hultgren

                                    /s/ ROSE HULTGREN
                                    --------------------------------------
                                    Rose Hultgren

                                    Address for Notice:

                                    6512 Mercedes Ave.
                                    Dallas, TX 75214

                                    /s/ RALEIGH HORTENSTINE III
                                    --------------------------------------
                                    Raleigh Hortenstine III

                                    Address for Notice:

                                    6316 Douglas Avenue
                                    Dallas, TX 75205

                                       5
<PAGE>   6

                                   EXHIBIT "A"
                      FOUNDERS STOCK SUBJECT TO CALL OPTION

<TABLE>
<CAPTION>
                                                                    Amount
                                                                 Beneficially
    Name of Beneficial Owner                                        Owned
    ------------------------                                     ------------
<S>                                                                <C>
    Joseph M. Grant                                                283,022
    Theodore H. Strauss                                             43,378
    Larry A. Makel (The Makel Family Partnership 1995, Ltd.)        64,000
    George F. Jones, Jr. (G&M Partners, Ltd.)                       64,000
    C. Keith Cargill (Cargill Lakes Partners, Ltd.)                 64,000
    David L. Cargill (Cargill Capital Partners, Ltd.)               64,000
    Gregory B. Hultgren & Rose Hultgren, tenants-in-common          29,155
    Raleigh Hortenstine III                                         35,555
                                                                   -------
                                                                   711,110
</TABLE>

                                       6<PAGE>   1
                                                                   EXHIBIT 10.2

                         TEXAS CAPITAL BANCSHARES, INC.
                         DEFERRED COMPENSATION AGREEMENT

THIS AGREEMENT made this 1st day of January, 1999 by and between Texas Capital
Bancshares, Inc., a Delaware corporation ("Bancshares"), and Joseph M. Grant
(the "Employee").

WITNESSETH THAT in consideration of the agreements hereinafter contained the
parties hereto agree as follows:

         1. Bancshares shall pay the Employee beginning January 1, 1999 and
continuing during the term of his employment hereunder, deferred compensation
payable as provided in paragraphs 2 and 3 below.

         2. (a) Bancshares shall credit on the Employee's behalf, to a book
reserve (the "Deferred Compensation Account") established for this purpose,
compensation validly deferred by the Employee on an annual basis on a form
provided by Bancshares.

               (b) All such funds so credited to the Deferred Compensation
Account shall be invested in Bancshares Common Stock in accordance with the
Texas Capital Bancshares Deferred Compensation Agreement Trust (the "Trust").
Investments in Bancshares Common Stock shall be made at a price per share
determined by Bancshares. Prior to such time as Bancshares completes an initial
equity offering representing at least 20% of Bancshares' then outstanding Common
Stock, such price per share shall be set, for purposes of this subsection 2(b)
as the prevailing "market price" as measured by the most recent sale of
Bancshares Common Stock, adjusted upward effective as of the first business day
of each calendar year quarter (January 1, April 1, July 1 and October 1), by the
Prime Rate as listed for that day in the Wall Street Journal. Upon Bancshares
completion of an initial equity offering representing at least 20% of its then
outstanding Common Stock, such price shall be the bid price per share as of the
close of the immediately preceding stock market trading day.

               (c) The Employee agrees on behalf of himself and his designated
beneficiary to assume all risk in connection with any decrease in value of the
funds which are invested in Bancshares Common Stock in accordance with the
provisions of this Agreement.

               (d) Title to and beneficial ownership of Bancshares Common Stock
deferred pursuant to this paragraph shall at all times remain in Bancshares and
the Employee and his designated beneficiary shall not have any property interest
whatsoever in any specific assets of Bancshares.

         3. Deferred compensation shall be distributed in the following manner:

               (a) If the Employee's employment with Bancshares is terminated on
or after his 66th birthday, Bancshares shall distribute to him in sixteen (16)
equal quarterly installments the number of shares of Bancshares Common Stock
acquired pursuant to this Agreement and held for such purpose in the Trust and
commencing on the first day of the month next following the Employee's
termination of employment. If the Employee should die on or after his 66th
birthday and before all of the sixteen (16) equal quarterly payments are made,
the unpaid balance will continue to be paid to his designated beneficiary in
equal quarterly installments for the unexpired portion of such distribution
period.

               (b) If the Employee's employment hereunder is terminated for any
reason other than death and disability but before the Employee's 66th birthday,
then the amount credited to the Deferred Compensation Account shall continue to
be held in such Account and no payments shall be made until the Employee attains
age 66 at which time payments shall be made in the same manner and to the same
extent as set for in paragraph 3(a), above. Notwithstanding the foregoing, if
before reaching age 66 the Employee dies or becomes disabled, then payments
shall be made in the same manner and to the same extent as set forth in
paragraph 3(c), below.

<PAGE>   2

               (c) If the Employee's employment is terminated because of
disability or death before he has reached the age of 66, but while he is
employed by Bancshares, then Bancshares shall make sixteen (16) equal quarterly
installments to the Employee (in the event of his disability) or to his
designated beneficiary (in the event of his death) in the same manner and to the
same extent as provided in paragraph 3(a), above.

               (d) If both the Employee and his designated beneficiary should
die before all sixteen (16) equal quarterly payments are made by Bancshares,
then the balance in the Deferred Compensation Account as of the date of the
designated beneficiary's death shall be paid as soon as practicable in a single
distribution to the estate of such designated beneficiary.

               (e) The Employee may designate any individual or entity as his
designated beneficiary and may change the designated beneficiary without the
consent of any prior beneficiary by completing a form provided by Bancshares for
such purpose and delivering such form to Bancshares before his death. If the
Employee fails to designate a beneficiary, or if no designated beneficiary shall
survive the Employee, the installment payments payable under paragraph 3(c),
above shall be payable to the Employee's estate.

               (f) The term "disabled" or "disability" as used in this Agreement
shall have the same meaning(s) as those terms are defined in Bancshares' Long
Term Disability Insurance Plan.

               (g) The installment payments to be made to the Employee under
paragraphs 3(a) and 3(c), above shall commence on the first day of the month
next following the date of the termination of his employment, and the
installment payments to be made to the Employee under paragraph 3(b), above
shall commence on the first day of the month next following the Employee's 66th
birthday.

         4. Nothing contained in this Agreement and no action taken pursuant to
the provisions of this Agreement shall create or be construed to create a
fiduciary relationship between Bancshares and the Employee, his designated
beneficiary or any other person. Any funds which may be invested under the
provisions of this Agreement shall continue for all purposes to be a part of the
general assets of Bancshares, whether or not held in trust, and no person or
entity other than Bancshares shall by virtue of the provisions of this Agreement
have any interest in such funds. To the extent that any person acquires a right
to receive payments from Bancshares under this agreement, such right shall be no
greater than the right of any unsecured general creditor of Bancshares.

         5. The right of the Employee or any other person to the payment of
deferred compensation or other benefits under this Agreement shall not be
assigned, transferred, pledged or encumbered except by will or by the laws of
descent and distribution.

         6. If the Board shall find that any person to whom any payment is
payable under this Agreement is unable to care for his affairs because of
illness or accident, or is a minor, any payment due (unless a prior claim
therefor shall have been made by a duly appointed guardian, committee or other
legal representative) may be paid to the spouse, a child, a parent, or a brother
or sister, or to any person deemed by the Board to have incurred expense for
such person otherwise entitled to payment, in such manner and proportions as the
Board may determine. Any such payment shall be a complete discharge of the
liabilities of Bancshares under this agreement.

         7. Nothing contained herein shall be construed as conferring upon the
Employee the right to continue in the employ of Bancshares as an executive or in
any other capacity.

         8. Any deferred compensation payable under this Agreement shall not be
deemed salary or other compensation to the Employee for the purpose of computing
benefits to which he may be entitled under any pension plan or other arrangement
sponsored by Bancshares for the benefit of its employees.

         9. The Board shall have full power and authority to interpret,
construe, and administer this Agreement and the Board's interpretations and
construction thereof, and actions thereunder, shall be binding and conclusive on
all persons for all purposes. No member of the Board shall be liable to any
person for any action taken or omitted in connection with the interpretation and
administration of this Agreement unless attributable to his own willful
misconduct or lack of good faith.

<PAGE>   3

         10. This agreement shall be binding upon and inure to the benefit of
Bancshares, its successors and assigns, and the Employee and his heirs,
executors, administrators, and legal representatives.

         11. Except to the extent superseded by laws of the United States, the
laws of the State of Texas shall be controlling in all matters relating to this
Agreement.

         IN WITNESS WHEREOF, Bancshares has caused this Agreement to be executed
by a duly authorized officer and Employee has hereunto set his hand and seal as
of the date first above written.

                  Texas Capital Bancshares, Inc.

                  By:  /s/ GREGORY B. HULTGREN
                       -----------------------

                  /s/ JOSEPH M. GRANT
                  ----------------------------
                  Joseph M. Grant

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