Document:

Restricted Stock Award Agreement issued to Hill A. Feinberg

 Exhibit 10.24 
 RESTRICTED STOCK AWARD AGREEMENT 
 PLAINSCAPITAL CORPORATION 
 This Restricted Stock Award Agreement (hereinafter called the “Agreement”) is made this 18th day of December, 2008, between
PlainsCapital Corporation, a Texas corporation (hereinafter called the “Company”), and Hill A. Feinberg, an individual who as of the Closing Date (defined herein) will become an employee of the Company or one or more of its
subsidiaries (hereinafter called the “Employee”) subject to and upon the consummation of the Merger (defined herein). 
 Whereas, the Company desires to provide an incentive to the Employee to assist the Company in achieving continued success by granting to the Employee an award of restricted stock in shares of its common stock, par value $10 per share
(hereinafter called the “Common Stock”), as hereinafter provided. 
 Now, therefore, in consideration of the mutual
covenants hereinafter set forth and for other good and valuable consideration, the parties hereto agree as follows: 
 1. Terms of
Award. The number of shares of Common Stock awarded under this Agreement is 12,000 shares (the “Awarded Shares”). The “Date of Grant” shall be the “Closing Date,” as defined
in that certain Agreement and Plan of Merger, dated as of November 7, 2008, by and among the Company, PlainsCapital Bank, a Texas banking association (the “Bank”), First Southwest Holdings, Inc., a Delaware corporation
(“FSH”), and Hill A. Feinberg, as Stockholders’ Representative, pursuant to which, among other things, FSH will merge into a merger subsidiary to be formed as a wholly-owned direct subsidiary of the Bank (the
“Merger”). This Award shall not become effective until the Closing Date, and in the event that the Merger is not consummated by March 31, 2009, this Agreement shall be null and void. No certificates relating to the Awarded
Shares shall be issued in the name of the Employee until the Date of Grant. 
 2. Definitions. 
 (a) “Change in Control” means one or more of the following events has occurred: 
 (i) The Company is merged or consolidated or reorganized into or with another corporation or other “person” (as defined in
Sections 13(d)(3) and 14(d)(2) of the Securities Exchange Act of 1934, as amended) and as a result of such merger, consolidation or reorganization less than 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 the Company immediately prior to such transaction; 
 (ii) The Company sells all or substantially all of its assets to any other corporation or other “person” (as defined in Sections
13(d)(3) and 14(d)(2) of the Securities Exchange Act of 1934, as amended), 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 51% of the
combined voting power of the then-outstanding voting securities in common with the Company; 
 (iii) During any period of two
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) Following the effective date of this Agreement, any “person” or
“group” (as defined in Sections 13(d)(3) and 14(d)(2) of the Securities Exchange Act of 1934, as amended) becomes the beneficial owner, directly or indirectly, of more than 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. 
 (b) “Code” means the Internal Revenue Code of 1986, as amended. 
 (c) “Initial
Public Listing” means the date the Common Stock of the Company is first listed and traded on an exchange registered under section 6 of the Securities Exchange Act of 1934. 
 (d) “Termination of Employment” means the date the Employee ceases to be an employee of the Company for any
reason. 
 3. Vesting. Except as specifically provided in this Agreement, the Awarded Shares shall vest in equal annual installments
over a seven year period, beginning with the first anniversary of the Date of Grant (each anniversary, a “Vesting Date”); provided, that, (i) such Awarded Shares subject to vesting on a given Vesting Date (other than the
Vesting Date on the seventh anniversary of the Date of Grant) shall, if necessary, be rounded down to the nearest whole number to avoid the issuance of any fractional shares; (ii) such Awarded Shares that remain unvested as of the seventh
anniversary of the Date of Grant shall be vested in full despite resulting in an unequal number of shares vesting on such Vesting Date; and (iii) the Employee must be employed by the Company on each such Vesting Date. 
 Notwithstanding the foregoing, the vesting of all Awarded Shares shall automatically accelerate in full upon the occurrence of an Initial Public Listing
or Change in Control. 
 4. Forfeiture and Disgorgement. Awarded Shares that are not vested in accordance with Section 3
shall be forfeited on the earlier of: 
 (a) the date of the Employee’s Termination of Employment; or 
 (b) the date the Board of Directors of the Company, in its sole discretion, determines that the Employee has violated any of the
restrictive covenants contained in Sections 13, 14, or 15 of the Employee’s employment agreement with the Company. 
 Upon forfeiture,
all of the Employee’s rights with respect to the forfeited Awarded Shares shall cease and terminate, without any further obligations on the part of the Company. Notwithstanding the foregoing, in the event of Section 4(b) above, in
addition to the forfeiture of any unvested Awarded Shares, 
 (x) the Employee shall immediately tender to the Company all
Awarded Shares that vested within the 180-day period preceding the date of such event that are still owned on the date of such event; and 
 (y) the Employee shall immediately pay to the Company any gain that the Employee realized on the sale of any vested Awarded Shares that were sold by the Participant within the 180-day period preceding the date of such
event or the one-year period following the date of such event. 
  

 2 

 5. Restrictions on Awarded Shares. Awarded Shares that are not vested in accordance with
Section 3 and which are subject to forfeiture in accordance with Section 4 shall be subject to the terms, conditions, provisions, and limitations of this Section 5. 
 (a) Subject to the terms of this Agreement, from the Date of Grant until the date the Awarded Shares are vested in accordance with
Section 3 and no longer subject to forfeiture in accordance with Section 4 (the “Restriction Period”), the Employee shall not be permitted to sell, transfer, pledge or assign shares any of the Awarded
Shares. 
 (b) Except as provided in paragraph (a) above, the Employee shall have, with respect to his or her Awarded
Shares, 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. 
 6. Legend. The following legend shall be placed on all certificates representing Awarded Shares: 
 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 Restricted Stock Award Agreement by and between PlainsCapital Corporation and the Employee,
dated December 18, 2008, 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
Agreement. By acceptance of this certificate, any holder, transferee or pledgee hereof agrees to be bound by all of the provisions of said Agreement.” 
 The following legend shall be inserted on a certificate evidencing Common Stock issued under this Agreement 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.”

 All Awarded Shares owned by the Employee shall be subject to the terms of this Agreement and shall be represented by a certificate or
certificates bearing the foregoing legend. 
  

 3 

 7. Delivery of Certificates. Certificates for Awarded Shares free of restriction under this
Agreement shall be held by the Company at all times, provided, however, that such certificates may be delivered to the Employee after, and only after, the Restriction Period has expired and such shares are no longer subject to forfeiture pursuant to
Section 4 if the Employee has made a written request for delivery of certificated shares. In connection with the issuance of a certificate for Restricted Stock, the Employee shall endorse such certificate in blank or execute a stock
power in a form satisfactory to the Company in blank and deliver such certificate and executed stock power to the Company. The parties acknowledge that remedies at law will be inadequate remedies for breach of this Section 7 and
consequently agree that this Section 7 shall be enforceable by specific performance. The remedy of specific performance shall be cumulative of all of the rights and remedies at law or in equity of the parties under this
Section 7. 
 8. 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 Company shall adjust
the number of Awarded Shares so that the fair value of the Awarded Shares immediately after the transaction or event is equal to the fair value of the Awarded Shares immediately prior to the transaction or event. 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. 
 9.
Voting. The Employee, as record holder of the Awarded Shares, has the exclusive right to vote, or consent with respect to, such Awarded Shares until such time as the Awarded Shares are transferred in accordance with this Agreement or a proxy
is granted pursuant to Section 10 below; provided, however, that this Section 9 shall not create any voting right where the holders of such Awarded Shares otherwise have no such right. 
 10. Proxies. The Employee may not grant a proxy to any person, other than a revocable proxy not to exceed 30 days in duration granted to another
shareholder for the sole purpose of voting for directors of the Company. 
 11. Investment Representations. Notwithstanding anything
herein to the contrary, the Employee hereby represents and warrants to the Company, that: 
 (a) The Awarded Shares are
acquired for investment purposes only for his or her own account and not with a view to or in connection with any distribution, re-offer, resale or other disposition not in compliance with the Securities Act of 1933 (the “Securities
Act”) and applicable state securities laws; 
 (b) The Employee, alone or together with his or her
representatives, possesses such expertise, knowledge and sophistication in financial and business matters generally, and in the type of transactions in which the Company proposes to engage in particular, that he or she is capable of evaluating the
merits and economic risks of acquiring and holding the Awarded Shares; 
 (c) The Employee has had access to all of the
information with respect to the Awarded Shares that he or she deems necessary to make a complete evaluation thereof, and has had the opportunity to question the Company concerning the Awarded Shares; 
  

 4 

 (d) The decision of the Employee to acquire the Awarded Shares for investment has been
based solely upon the evaluation made by the Employee; 
 (e) The Employee is aware that he or she must bear the economic risk
of his or her investment in the Company for an indefinite period of time because the Awarded Shares have not been registered under the Securities Act and are being issued to the Employee in reliance upon the exemption from such registration provided
by Rule 701 or Section 4(2) of the Securities Act or under the securities laws of various states, and therefore, cannot be sold or transferred unless the Awarded Shares are subsequently registered under the Securities Act and any applicable
state securities laws or an exemption from registration is available; 
 (f) The Employee understands that Rule 144
promulgated pursuant to the Securities Act which exempts certain resales of restricted securities is not presently available to exempt the resale of the Awarded Shares from the registration requirements of the Securities Act; 
 (g) The Employee is aware that only the Company can take action to register the Awarded Shares and the Company is under no such obligation
and does not propose to attempt to do so; 
 (h) The Employee is aware that the Shareholders’ Agreement and applicable
securities laws provide restrictions on the ability of shareholders to sell, transfer, assign, mortgage, hypothecate, or otherwise encumber their Awarded Shares and places certain other restrictions on the Employee; and 
 (i) The Employee is an Accredited Investor, as such term is defined in Section 501 of Regulation D promulgated under the Securities
Act. 
 12. Specific Performance. The parties acknowledge that remedies at law will be inadequate remedies for breach of this
Agreement and consequently agree that this Agreement shall be enforceable by specific performance. The remedy of specific performance shall be cumulative of all of the rights and remedies at law or in equity of the parties under this Agreement.

 13. Employee’s Representations. Notwithstanding any of the provisions hereof, the Employee hereby agrees that he will not
acquire any Awarded Shares, and that the Company will not be obligated to issue any Awarded Shares to the Employee hereunder, if the issuance of such shares shall constitute a violation by the Employee or the Company of any provision of any law or
regulation of any governmental authority. Any determination in this connection by the Company shall be final, binding, and conclusive. The obligations of the Company and the rights of the Employee are subject to all applicable laws, rules, and
regulations. 
 14. Employee’s Acknowledgments. The Employee hereby accepts this Award subject to all the terms and provisions of
this Agreement. The Employee hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Company upon any questions arising under this Agreement. 
 15. No Right to Continue Service or Employment. Nothing herein shall be construed to confer upon the Employee the right to continue in the
employ or to provide services to the Company, or interfere with or restrict in any way the right of the Company to discharge the Employee as an employee at any time. 
 16. Law Governing. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Texas (excluding any conflict of laws rule or principle of Texas law that might refer
the governance, construction, or interpretation of this Agreement to the laws of another state). 
  

 5 

 17. Legal Construction. In the event that any one or more of the terms, provisions, or agreements
that are contained in this Agreement shall be held by a court of competent jurisdiction, with respect to any and all claims under the Agreement, to be invalid, illegal, or unenforceable in any respect for any reason, the invalid, illegal, or
unenforceable term, provision, or agreement shall not affect any other term, provision, or agreement that is contained in this Agreement and this Agreement shall be construed in all respects as if the invalid, illegal, or unenforceable term,
provision, or agreement had never been contained herein. 
 18. Covenants and Agreements as Independent Agreements. Each of the
covenants and agreements that is set forth in this Agreement shall be construed as a covenant and agreement independent of any other provision of this Agreement. The existence of any claim or cause of action of the Employee against the Company,
whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and agreements that are set forth in this Agreement. 
 19. Entire Agreement. This Agreement supersedes any and all other prior understandings and agreements, either oral or in writing, between the
parties with respect to the subject matter hereof and constitute the sole and only agreements between the parties with respect to the said subject matter. All prior negotiations and agreements between the parties with respect to the subject matter
hereof are merged into this Agreement. Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made by any party or by anyone acting on behalf of any party, which are
not embodied in this Agreement and that any agreement, statement or promise that is not contained in this Agreement shall not be valid or binding or of any force or effect. 
 20. Parties Bound. The terms, provisions, and agreements that are contained in this Agreement shall apply to, be binding upon, and inure to the
benefit of the parties and their respective heirs, executors, administrators, legal representatives, and permitted successors and assigns, subject to the limitation on assignment expressly set forth herein. No person or entity shall be permitted to
acquire any Awarded Shares without first executing and delivering an agreement in the form satisfactory to the Company making such person or entity subject to the restrictions on transfer contained in Section 5 hereof. 
 21. Waiver. Neither the failure nor any delay on the part of any party to exercise any right, remedy, power or privilege under this Agreement
shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right,
remedy, power, or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. 
 22. Provisions Separable. The provisions of this Agreement are independent of and separable from each other, and no provision shall be affected or rendered invalid or unenforceable by virtue of the fact that
for any reason any other or others of them may be invalid or unenforceable in whole or in part. 
 23. Modification. No change or
modification of this Agreement shall be valid or binding upon the parties unless the change or modification is in writing and signed by the parties. 
 24. Headings. The headings that are used in this Agreement are used for reference and convenience purposes only and do not constitute substantive matters to be considered in construing the terms and provisions
of this Agreement. 
  

 6 

 25. Gender and Number. Words of any gender used in this Agreement shall be held and construed to
include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise. 
 26. Notice. Any notice required or permitted to be delivered hereunder shall be deemed to be delivered only when actually received by the Company or by the Employee, as the case may be, at the addresses set
forth below, or at such other addresses as they have theretofore specified by written notice delivered in accordance herewith: 
 (a) Notice to the Company shall be addressed and delivered as follows: 
 PlainsCapital Corporation 
 2911 Turtle Creek Blvd., Suite 700 
 Dallas, TX 75219 
 Attn: General Counsel 
 Facsimile: (214) 252-4192 
 (b) Notice to the Employee shall be addressed and delivered as set forth on the signature page. 
 27. Tax
Requirements. The Employee is hereby advised to consult immediately with his or her own tax advisor regarding the tax consequences of this Agreement, the method and timing for filing an election to include this Agreement in income
under Section 83(b) of the Code, and the tax consequences of such election. By execution of this Agreement, the Employee agrees that if the Employee makes such an election, the Employee shall provide the Company with written notice of such
election in accordance with the regulations promulgated under Section 83(b) of the Code. The Company or, if applicable, any subsidiary (for purposes of this Section 27, 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, any Federal, state, local, or other taxes required by law to be withheld in connection with the Awarded Shares. The Company may, in its
sole discretion, also require the Employee receiving shares of Common Stock to pay the Company the amount of any taxes that the Company is required to withhold in connection with the Employee’s income arising with respect to the Awarded Shares.
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 the required tax withholding obligations of the Company; or (ii) by any other means approved by the Company in its sole discretion. The Company may, in its sole discretion, withhold any such taxes
from any other cash remuneration otherwise paid by the Company to the Employee. 
 [Signature Page to Follow] 
  

 7 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer,
and the Employee, to evidence his consent and approval of all the terms hereof, has duly executed this Agreement, as of the date specified in Section 1 hereof. 
  

			
	COMPANY:
	
	PLAINSCAPITAL CORPORATION
		
	By:	 	/s/ Alan B. White
	Name:	 	Alan B. White
	Title:	 	Chairman and CEO
	
	EMPLOYEE:
	
	/s/ Hill A. Feinberg
	Signature	 	
		
	Name:	 	Hill A. Feinberg
	Address:	 	3131 Maple Avenue, Apartment 14E
		 	Dallas, TX 75201-1329

  

 8Form of Stock Option Agreement under the 1996 Incentive Stock Option Plan

 Exhibit 10.25 
 PLAINS CAPITAL CORPORATION 
 EMPLOYEE INCENTIVE STOCK OPTION AGREEMENT 

Employee Incentive Stock Option Agreement hereinafter called (the “Agreement”) made this
             day             , 19         , between Plains
Capital Corporation, a Texas corporation, hereinafter called (the “Corporation”). and
                                         
       , an employee of the Corporation or one or more of its subsidiaries, hereinafter called (the “Employee” or “Optionee”). 
 The Corporation desires, by affording the Employee an opportunity to purchase its common shares, of the par value of $10 per share. hereinafter called
the Common Shares, as hereinafter provided, to carry out the purposes of the Incentive Stock Option Plan of Plains Capital Corporation dated October 16, 1996, hereinafter called (the “Plan”) as approved by its shareholders.

 Now, therefore, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties
hereto agree as follows: 
 1. GRANT OF OPTION. The Corporation hereby irrevocably grants to the Employee the right and option,
hereinafter called the Option, to purchase all or any part of an aggregate of                      Common Shares (such number being subject to
adjustments provided in Paragraph 8 hereof) on the terms and conditions herein set forth. 
 2. PURCHASE PRICE. The purchase price of
the Common Shares covered by the Option shall be $                     per share flat or ex-dividend. 
 3. EXERCISE OF OPTION, MEDIUM AND TIME OF PAYMENT. Subject to the terms and conditions of this Agreement, the Option may be exercised by written
notice to the Corporation, at its stock transfer department, which is now located at the office of the Corporation, 5010 University Avenue, Lubbock, Texas 79413. Such notice shall state the election to exercise the Option and the number of shares in
respect of which it is being exercised, and shall be signed by the person or persons so exercising the Option. Such notice shall either (a) be accompanied by payment of the full purchase price of such shares, in which event the Corporation
shall deliver a certificate or certificates representing such shares as soon as practicable after the notice shall be received, or (b) fix a date (not less than five not more than ten business days from the date such notice shall be received by
the Corporation) for the payment of the full purchase price of such shares at the stock transfer department, against delivery of a certificate or certificates representing such shares. Payment of such purchase price shall, in either case, be payable
in United States dollars, be made by cash or check payable 

  

 -1- 

 
to the order of the Corporation. The certificate or certificates for the shares as to which the Option shall have been so exercised shall be registered in
the name of the person or persons so exercising the Option and shall be delivered as provided above to or upon the written order of the person or persons exercising the Option. In the event, the Option shall be exercised, pursuant to Paragraph 8
hereof, by any person or persons other than the Employee, such notice shall be accompanied by appropriate proof of the right of such person or persons to exercise the Option. All shares that shall be purchased upon the exercise of the Option, as
provided herein, shall be fully paid and non-assessable. 
 4. TERM OF OPTION. The term of the Option shall be for a period of ten
years from the date hereof , subject to earlier termination as provided in Paragraphs 5 and 6 hereof. The Option may be exercised within the above limitation, at any time or from time to time, as to any part of or all the shares covered thereby,
provided however, that, (a) the Option may not be exercised as to less than 25 shares at any one time (or the remaining shares then purchasable under the Option, if less than 25 shares); and (b) the Option shall not be exercisable prior to
the expiration of six (6) months from the date hereof. Except as provided in Paragraph 6 and 7 hereof, the Option may not be exercised at any time unless the Employee shall have been in the continuous employ of the Corporation or of one or more
of its subsidiaries from the date hereof to the date of the exercise of the Option. The Optionee shall have no rights as a stockholder with respect to any shares covered by the Option until the date the Corporation receives payment in full for
purchase of such shares pursuant to the effective exercise of said Option. No adjustment shall be made for dividends or distributions or other rights for which the record date is prior to the date such payment is received by the Corporation except
as provided in Paragraph 9 hereof. 
 5. TRANSFER OF OPTION. Neither the whole nor any part of this Option shall be transferable by
the Employee or by the operation of law during Employee’s lifetime and at Employee’s death the Option or any part thereof shall only be transferable by Employee’s will or by the laws of descent and distribution. The Option may be
exercised during the lifetime of the Employee only by the Employee. The Option, and any and all rights granted to an Employee hereunder, to the extent not heretofore effectively exercised shall automatically terminate and expire upon any sale,
transfer or hypothecation or any attempted sale, transfer or hypothecation of such Option or rights, or upon the bankruptcy or insolvency of the Employee. 
 6. TERMINATION OF EMPLOYMENT. No Option may be exercised after the termination of the employment of the Optionee with the Corporation except as hereinafter provided, specifically subject, however, to the
provisions of paragraph 4 hereof. 
  

 -2- 

	 	(a)	Retirement. The Option herein granted may be exercised within three (3) months after the Retirement (as hereinafter defined) of the Employee and the Option shall
be exercisable for all the shares covered thereby. For purposes of this Agreement, “Retirement” shall mean any termination of employment with the Corporation after the attainment of age sixty-five (65) by the Optionee.

  

	 	(b)	Disability. Any Option granted under this Agreement may be exercised within three (3) months after the termination of the employment of the Optionee by reason of
the Disability (as hereinafter defined) of the Optionee and the Option shall be exercisable for all of the shares covered hereby. For purposes of this Agreement, an Optionee shall be deemed to have incurred a “Disability” if a
disinterested duly licensed medical doctor appointed by the Corporation determines that the Optionee is totally and permanently prevented as a result of a physical or a mental infirmity, injury, or disease, either occupational or nonoccupational in
cause, from holding the job or position with the Corporation or engaging in the employment activity, or a comparable job or employment activity with the Corporation, which the Optionee held or customarily engaged in prior to the occurrence of the
disability (provided, however, that disability hereunder shall not include any disability incurred or resulting from the Optionee having engaged in a criminal act or enterprise or any disability consisting of or resulting from the Optionee’s
chronic alcoholism, addiction to narcotics or an intentionally self-inflicted injury). 

  

	 	(c)	Involuntary Termination of Employment. The Option granted under this Agreement shall automatically terminate after the involuntary termination of employment (as
hereinafter defined) of the Optionee with the Corporation. For purposes of this Agreement, “Involuntary Termination of Employment” shall mean any termination of the Optionee’s employment with the Corporation by reason of being
discharged, firing or other involuntary termination of an Optionee’s employment by action of the Corporation. 

  

	 	(d)	Voluntary Termination of Employment. The Option granted under this Agreement shall automatically terminate after the voluntary termination of employment (as
hereinafter defined) of the Optionee with the Corporation. For purposes of this Agreement, “Voluntary Termination of Employment” shall mean any voluntary termination of employment with the Corporation by reason of the Optionee quitting or
otherwise voluntary leaving the Corporation employ other than a voluntary termination of employment by reason of retirement. 

  

 -3- 

 The granting of the Option pursuant to this Agreement shall not be deemed to constitute a Contract of
Employment between the Corporation and the Employee or to be a condition of the employment of any person. Nothing herein contained shall be deemed to (a) give to the Employee the right to be retained in the employ of the Corporation; (b) interfere
with the right of the Corporation to discharge or retire the Employee at any time; (c) be deemed to give to the Corporation the right to require the Employee to remain in its employ; or (d) interfere with the Employee’s right to terminate its
employment at any time. 
 7. DEATH OF EMPLOYEE. Subject to the provisions of paragraph 4, if the Employee shall die while employed by
the Corporation or within three (3) months after termination of employment with the Corporation by reason of Retirement or Disability, the Option granted under this Agreement to such deceased Employee shall be exercisable within six (6) months after
the date of Employee’s death and the Option shall be exercisable for all of the shares covered thereby. The legal representative, if any, of the deceased Employee’s estate, otherwise the appropriate legatees or distributees of the deceased
Employee’s estate, may exercise the Option on behalf of such deceased Employee. 
 8. CHANGES IN CAPITAL STRUCTURE. If all or any
portion of the Option shall be exercised subsequent to any stock dividend declared upon the common stock or if the common stock shall thereafter be subdivided, consolidated, or changed into other securities of Plains Capital Corporation or a
successor Corporation to Plains Capital Corporation, then in each such event, shares of common stock which would be delivered pursuant to the exercise of this Option shall, for purposes of adjusting the number and kind thereof be treated as though
outstanding immediately prior to the occurrence of such event and the purchase price to be paid thereof shall be appropriately adjusted to give effect thereto, provided however, that no fractional shares shall be issued upon any such exercise, and
the aggregate price paid shall be reduced on account of any fractional share not issued. No adjustment shall be made in the minimum number of shares which may be purchased at any one time, as fixed by paragraph 4 hereof. The grant of this Option
shall not effect, in any way, the right or power of the Corporation to make adjustment, re-classifications, reorganizations or changes of its capital or business structure or to merge or to consolidate or to dissolve, liquidate or sell, or transfer
all or any part of its business or assets. In the case of merger, consolidation, dissolution or liquidation of the Corporation, the Corporation may accelerate the expiration date of any Option for any or all of the shares covered hereby (but still
giving Optionees a reasonably period of time to exercise any outstanding Options prior to the accelerated expiration date) and may in the case of merger, consolidation, dissolution or liquidation of the Corporation, or any other case in which it
feels it is in the Corporation’s best interest, accelerate the date or dates on which any Option or any part of any Option shall be exercisable for any or all of the shares covered hereby. 
  

 -4- 

 9. LIMITATION ON OPTION. Notwithstanding the provisions of this Agreement no Option may be granted
to an Optionee if the value of shares of the Corporation stock that can be exercised for the first time by the Optionee in any one (1) year exceeds $100,000.00, based on the Option price contained herein. 
 10. GENERAL. The Corporation shall at all times during the term of the Option reserve and keep available such number of Common Shares as will be
sufficient to satisfy the requirements of this Agreement, shall pay all original issue and transfer taxes with respect to the issue and transfer of shares pursuant hereto and all other fees and expenses necessarily incurred by the Corporation in
connection therewith, and will from time to time use its best efforts to comply with all laws and regulations which, in the option of counsel for the Corporation, shall be applicable thereto. 
 11. INCORPORATION OF PLAN BY REFERENCE. This Option is granted pursuant to the terms of the Plan, the terms of which are incorporated herein by
reference, and the Option in all respects shall be interpreted in accordance with the Plan. The Plan Committee shall interpret and construe the Plan and this instrument, and its interpretations and determinations shall be conclusive and binding on
the parties hereto and any other person claiming an interest hereunder, with respect to any issue arising hereunder or thereunder. 
 12.
SUBSIDIARY DEFINED. As used herein, the term “subsidiary” shall mean any present or future corporation which would be a “subsidiary corporation” of the Corporation, as that term is defined in Section 425 of the
Internal Revenue Code of 1986. 
 13. GOVERNING LAW. The validity, construction, interpretation and effect of this Agreement shall
exclusively be governed by and determined in accordance with the law of the State of Texas, except to the extent preempted by federal law, which shall to the extent govern. 
  

 -5- 

 IN WITNESS WHEREOF the Corporation has caused its duly authorized officers to execute and attest this
Grant of Incentive Stock Option, and to apply the corporate seal hereto, and the Employee has placed his or her signature hereon effective on the day and year first above written. 
  

									
	ACCEPTED AND AGREED TO:	 		 	 PLAINS CAPITAL CORPORATION
 ATTEST:

				
	By:	 	 	 		 	 
	                                       
                                     , Employee	 		 		 	                                        
                            Secretary
					
		 		 		 	By: 	 	 
		 		 		 	Its:	 	 

  

 -6-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]