Document:

EXHIBIT 10.15

 

AMENDMENT NUMBER FIVE

TO

TEXAS REGIONAL
BANCSHARES, INC.

AMENDED AND RESTATED EMPLOYEE STOCK OWNERSHIP
PLAN

(WITH 401(K)
PROVISIONS)

 

Texas Regional
Bancshares, Inc., a corporation organized and operating under the laws of the
State of Texas, and registered as a bank holding company under the Bank Holding
Company Act of 1956, as amended (the “Company”), together with the Trustees of
the Texas Regional Bancshares, Inc. Amended and Restated Employee Stock
Ownership Plan (with 401(k) Provisions) adopt the following amendments to the
Plan effective as of December 10, 2002.

 

WHEREAS, the
Company has established and maintains the Texas Regional Bancshares, Inc.
Amended and Restated Employee Stock Ownership Plan (with 401(k) Provisions)
(the “Plan”); and

 

WHEREAS, the
Company and San Juan Bancshares, Inc. entered into an Agreement and Plan of
Reorganization, pursuant to which, effective as of November 18, 2002, San Juan
Bancshares, Inc. and its wholly owned subsidiary San Juan Delaware Financial
Corporation merged with and into Texas Regional Delaware, Inc., and Texas
Country Bank merged with and into Texas State Bank, and, as a part of those
mergers, the Company and its subsidiaries have become the employer of the
employees of the former San Juan Bancshares, Inc. and its subsidiaries; and

 

WHEREAS, it is
the desire of the Company and its wholly owned subsidiary, Texas State Bank,
that eligible employees of San Juan Bancshares, Inc., San Juan Delaware
Financial Corporation and Texas Country Bank, as a result of becoming employees
of the Company and Texas State Bank pursuant to the mergers, be entitled to
participate in the Plan; and

 

WHEREAS, the
Board of Directors desires to coordinate and consolidate the employee benefit
programs available to all employees of the Company and its subsidiaries;

 

NOW THEREFORE,
IT IS HEREBY AGREED THAT the Plan is hereby amended effective as of December
10, 2002 as follows:

 

1.             Amendment related to definition of “Service.”  The
definition of “Service” in Section 2.65 of the Plan (as originally stated in
the Plan and as the same may have been previously amended) is hereby deleted
and substituted therefor is the following language:

 

“2.65       “Service” means
employment with:

 

(i) the Company,

 

(ii) a Participating Employer,

 

(iii) Mid Valley Bank, as predecessor to the
Company’s subsidiary, Texas State Bank (with respect to those Employee
participants that were formerly participants in the Mid Valley Bank Employees’
Pension Plan),

 

(iv) First National Bank of South Texas (with
respect to those Employees who were employed by First National Bank of South
Texas as employees of the Rio Grande City and Roma branch bank facilities of
First National Bank of South Texas as of the time of acquisition of such branch
bank facilities by Texas State Bank),

 

(v) First State Bank & Trust Co. and The
Border Bank (with respect to those Employees who were employed by First State
Bank & Trust Co. or The Border Bank as employees of such banks as of the
time of the merger of such banks with and into Texas State Bank),

 

(vi) Brownsville National Bank, Texas Bank
& Trust and Bank of Texas (with respect to those Employees who were
employed by Brownsville National Bank, Texas Bank & Trust or Bank of Texas
as of the time of the merger of such banks with and into Texas State Bank),

 

(vii) Harlingen Bancshares, Inc., HN
Bancshares of Delaware, Inc. and/or  Harlingen National Bank (with respect to
those individuals who are Employees as of October 1, 1999 and  who were employed by Harlingen Bancshares,
Inc., HN Bancshares of Delaware, Inc. and/or  Harlingen National Bank as
of August 15th, 1999),

 

 

1

 

(viii) Frost National Bank and Overton Park
Bank (with respect to those individuals who are Employees as of March 12, 2002
and who were employed in connection with the data processing business of Frost
National Bank located at 975 William D. Tate, Grapevine, Texas as of the date
of acquisition of that business by Texas State Bank),

 

(ix) Riverway Holdings, Inc., Riverway
Holdings of Delaware, Inc. and/or  Riverway Bank (with respect to those
Employees who were employed by Riverway Holdings, Inc., Riverway Holdings of
Delaware, Inc. and/or  Riverway Bank as of the time of merger of
Riverway Holdings, Inc. with and into Texas Regional Delaware, Inc.); and

 

(x) San Juan Bancshares, Inc., San Juan
Delaware Financial Corporation and/or  Texas Country Bank (with respect to those
Employees who were employed by San Juan Bancshares, Inc., San Juan Delaware
Financial Corporation and/or  Texas Country Bank as of the time of
merger of San Juan Bancshares, Inc. with and into Texas Regional Delaware,
Inc.).”

 

2.             Amendment to
definition of “Years of Service.”  The
last paragraph in the definition of “Years of Service” in Section 2.76 of the Plan
(as originally stated in the Plan and as the same may have been previously
amended) is hereby deleted and substituted therefor is the following language:

 

“Years of Service
with:

 

(a) the Employer,

 

(b) an Affiliated Employer,

 

(c) Mid Valley Bank, as predecessor to the
Employer’s subsidiary, Texas State Bank (with respect to those Employee
participants that were formerly participants in the Mid Valley Bank Employees’
Pension Plan),

 

(d) First National Bank of South Texas (with
respect to those Employees who were employed by First National Bank of South
Texas as employees of the Rio Grande City and Roma branch bank facilities of
First National Bank of South Texas as of the time of acquisition of such branch
bank facilities by Texas State Bank),

 

(e) First State Bank & Trust Co. and The
Border Bank (with respect to those Employees who were employed by First State
Bank & Trust Co. or The Border Bank as employees of such banks as of the
time of the merger of such banks with and into Texas State Bank),

 

(f) Brownsville National Bank, Texas Bank
& Trust and Bank of Texas (with respect to those Employees who were
employed by Brownsville National Bank, Texas Bank & Trust or Bank of Texas
as of the time of the merger of such banks with and into Texas State Bank),

 

(g) Harlingen Bancshares, Inc., HN Bancshares
of Delaware, Inc. and/or Harlingen National Bank (with respect to those
individuals who are Employees as of October 1, 1999 and who were employed by
Harlingen Bancshares, Inc., HN Bancshares of Delaware, Inc. and/or Harlingen
National Bank as of August 15, 1999),

 

(h) Frost National Bank and Overton Park Bank
(with respect to those individuals who are Employees as of March 12, 2002 and
who were employed in connection with the data processing business of Frost National
Bank located at 975 William D. Tate, Grapevine, Texas as of the date of
acquisition of that business by Texas State Bank),

 

(i) Riverway Holdings, Inc., Riverway
Holdings of Delaware, Inc. and/or  Riverway Bank (with respect to those
Employees who were employed by Riverway Holdings, Inc., Riverway Holdings of
Delaware, Inc. and/or  Riverway Bank as of the time of merger of
Riverway Holdings, Inc. with and into Texas Regional Delaware, Inc.), and/or

 

(j) San Juan Bancshares, Inc., San Juan
Delaware Financial Corporation and/or  Texas Country Bank (with respect to those
Employees who were employed by San Juan Bancshares, Inc., San Juan Delaware
Financial Corporation and/or  Texas Country Bank as of the time of
merger of San Juan Bancshares, Inc. with and into Texas Regional Delaware,
Inc.)

 

will be recognized for purposes of eligibility and vesting.”

 

2

 

3.             Participants.  As a result of the amendments to
the Plan pursuant to sections 1 and 2 of this Amendment, persons who were
employees of San Juan Bancshares, Inc., San Juan Delaware
Financial Corporation and/or  Texas Country Bank as of the time of
merger of San Juan Bancshares, Inc. with and into Texas Regional Delaware, Inc.
will become Participants (as that term is
defined in the Plan) as soon as feasible on or after the date that such persons
become employees of the Company and/or Texas State Bank as provided in sections
1 and 2, without regard to the requirement of entry on the first of a month or
on January 1st or July 1st subsequent to their initial dates of service,
provided that they are otherwise qualified to be Participants as set forth in
the Plan.  The Plan is hereby further
amended to provide that such persons become Participants as described above,
without regard to the requirement of entry on January 1st or July 1st
subsequent to their initial dates of service, provided that they are otherwise
qualified under the Plan. 
Notwithstanding the foregoing, each such employee shall only be credited
(pursuant to and in accordance with the rules set forth in the Plan) with the
amount of compensation paid by the Company and/or Texas State Bank, and shall
not be credited with any part of such employee’s compensation paid by San Juan
Bancshares, Inc., San Juan Delaware Financial Corporation or Texas Country Bank
for purposes of determining allocations of Employer Contributions and
Forfeitures and for all other purposes.

 

4.             Definitions.  Defined terms used herein and not
otherwise defined herein shall have the meanings assigned to them in the Plan.

 

IN WITNESS
WHEREOF, this Fifth Amendment to the Texas Regional Bancshares, Inc. Amended
and Restated Employee Stock Ownership Plan (with 401(k) Provisions) has been
executed this 10th day of December, 2002 to be effective as of the
date set forth above.

 

	
   

  	
  Texas Regional Bancshares, Inc.

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  By:

  	
  /s/ G.E.
  Roney

  	
   

  
	
   

  	
   

  	
  Glen E.
  Roney,

  
	
   

  	
   

  	
  Chairman of
  the Board and

  
	
   

  	
   

  	
  Chief
  Executive Officer

  
					

 

3EXHIBIT 10.16

 

AMENDMENT NUMBER SIX

TO

TEXAS REGIONAL BANCSHARES, INC.

AMENDED AND RESTATED EMPLOYEE STOCK
OWNERSHIP PLAN

(WITH 401(K) PROVISIONS)

 

Texas Regional Bancshares,
Inc., a corporation organized and operating under the laws of the State of
Texas, and registered as a bank holding company under the Bank Holding Company
Act of 1956, as amended (the “Company”), together with the Trustees of the
Texas Regional Bancshares, Inc. Amended and Restated Employee Stock Ownership
Plan (with 401(k) Provisions) adopt the following amendments to the Plan
effective as of February 14, 2003.

 

WHEREAS, the Company has
established and maintains the Texas Regional Bancshares, Inc. Amended and
Restated Employee Stock Ownership Plan (with 401(k) Provisions) (the “Plan”);
and

 

WHEREAS, the Company and
Corpus Christi Bancshares, Inc. entered into an Agreement and Plan of
Reorganization, pursuant to which, effective as of February 14, 2003, Corpus
Christi Bancshares, Inc. and its wholly owned subsidiary merged with and into Texas
Regional Delaware, Inc., and The First State Bank merged with and into Texas
State Bank, and, as a part of those mergers, the Company and its subsidiaries
have become the employer of the employees of the former Corpus Christi
Bancshares, Inc. and its subsidiaries; and

 

WHEREAS, it is the desire of
the Company and its wholly owned subsidiary, Texas State Bank, that eligible
employees of Corpus Christi Bancshares, Inc., CCB-Nevada, Inc. and The First
State Bank, as a result of becoming employees of the Company and Texas State
Bank pursuant to the mergers, be entitled to participate in the Plan as soon as
is feasible, and further that their service with their acquired employers be
credited under the Plan for purposes of eligibility to participate and vesting;
and

 

WHEREAS, the Board of
Directors desires to coordinate and consolidate the employee benefit programs
available to all employees of the Company and its subsidiaries;

 

NOW THEREFORE, IT IS
HEREBY AGREED THAT the Plan is hereby amended effective as of February 14,
2003, as follows:

 

1.  Plan Section 2.65, definition of “Service,”
is deleted.

 

2.  Plan Section 2.76,
definition of “Year of Service,” is amended and restated in its entirety to
read as follows:

 

2.76    “Year of Service” means the computation
period of twelve (12) consecutive months, herein set forth, during which an
Employee has at least 1000 Hours of Service.

 

For purposes of eligibility
for participation, the initial computation period shall begin with the date on
which the Employee first performs an Hour of Service.  The participation computation period beginning after a 1-Year
Break in Service shall be measured from the date on which an Employee again
performs an Hour of Service.  The
participation computation period shall shift to the Plan Year which includes
the anniversary of the date on which the Employee first performed an Hour of
Service.  An Employee who is credited
with the required Hours of Service in both the initial computation period (or the
computation period beginning after a 1-Year Break in Service) and the Plan Year
which includes the anniversary of the date on which the Employee first
performed an Hour of Service, shall be credited with two (2) Years of Service
for purposes of eligibility to participate.

 

For vesting purposes, the
computation period shall be the Plan Year, including periods prior to the
Effective Date of the Plan.

 

The computation period shall
be the Plan Year if not otherwise set forth herein.

 

Notwithstanding the
foregoing, for any short Plan Year, the determination of whether an Employee
has completed a Year of Service shall be made in accordance with Department of
Labor regulation 2530.203-2(c). 
However, in determining whether an Employee has completed a Year of Service
for benefit accrual purposes in the short Plan Year, the number of the Hours of
Service required shall be proportionately reduced based on the number of full
months in the short Plan Year.

 

1

 

Years of Service with the
Employer or an Affiliated Employer shall be recognized for purposes of
eligibility and vesting.  In addition,
upon the Employer’s or an Affiliated Employer’s acquisition of one or more
employees as the result of a merger or other acquisition of a business or
assumption of operations of a business, or as the result of similar
circumstances, the Employer may elect to grant Years of Service to such
acquired Employees for all or part of the period of such Employees’ service
with the employer whose business or operations are assumed or which has been
merged into the Employer or an Affiliated Employer.  Any such grant of Years of Service, the purpose or purposes for
which Years of Service will be credited, and the effective date of such grant shall
be represented by Schedule A, Service of Acquired Employees, attached
to this Plan and incorporated herein, or by an amendment to Schedule A.

 

3.          Schedule A, Service of Acquired
Employees, shall be and hereby is added to the Plan in the form attached to
this Amendment as Exhibit “A.”

 

IN WITNESS WHEREOF, this
Amendment Number Six to the Texas Regional Bancshares, Inc. Amended and
Restated Employee Stock Ownership Plan (with 401(k) Provisions) has been
executed this 11th day of March, 2003 to be effective as of the
dates provided above.

 

	
   

  	
  Texas Regional Bancshares, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ G.E. Roney

  	
   

  
	
   

  	
   

  	
  Glen E. Roney,

  
	
   

  	
   

  	
  Chairman of the Board and

  
	
   

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
  AGREED
  TO AND ACCEPTED BY:

  
	
   

  
	
   

  
	
  /s/
  G.E. Roney

  	
   

  
	
  Glen
  E. Roney, Trustee

  
	
   

  
	
   

  
	
  /s/
  Morris Atlas

  	
   

  
	
  Morris
  Atlas, Trustee

  
	
   

  
	
   

  
	
  /s/
  Frank N. Boggus

  	
   

  
	
  Frank N. Boggus, Trustee

  
					

 

2

 

TEXAS
REGIONAL BANCSHARES, INC.

AMENDED AND
RESTATED EMPLOYEE STOCK

OWNERSHIP
PLAN 

(WITH
401(K) PROVISIONS)

 

Schedule “A”

 

Service of Acquired Employees

 

The Employer, Texas Regional
Bancshares, Inc., grants “Years of Service” (as that term is defined in Plan
Section 2.76) to the following groups of acquired Employees for the following
periods of service with other employers, as of the dates indicated below, and
for the Plan purposes indicated below:

 

	
  Acquired Group

  (including date of hire)

  	
   

  	
  Participation
  Service  

  (including
  limits)

  	
   

  	
  Vesting
  Service 

  (including limits)

  	
   

  	
  Entry Date  

  (including
  limits)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mid Valley Bank, 1992
  (former participants in Mid Valley Bank Employees’ Pension Plan only)

  	
   

  	
  Yes; all service with Mid
  Valley Bank

  	
   

  	
  Yes; all service with Mid
  Valley Bank

  	
   

  	
  Immediately upon
  employment by Employer (and for compensation earned from Mid Valley Bank in
  1992 and the Employer)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  First National Bank of
  South Texas, 1995 (employees of Rio Grande City and Roma branches as of
  acquisition by Texas State Bank)

  	
   

  	
  Yes; all service with
  First National Bank of South Texas

  	
   

  	
  Yes; all service with
  First National Bank of South Texas

  	
   

  	
  Immediately upon
  employment by Employer (but only for compensation earned from the Employer)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  First State Bank &
  Trust Co., and The Border Bank, 1996 (employees as of time of merger into
  Texas State Bank)

  	
   

  	
  Yes; all service with
  First State Bank & Trust Co., and The Border Bank

  	
   

  	
  Yes; all service with
  First State Bank & Trust Co. and The Border Bank

  	
   

  	
  Immediately upon
  employment by Employer (but only for compensation earned from the Employer)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Brownsville National Bank,
  Texas Bank & Trust, and Bank of Texas, 1998

  	
   

  	
  Yes; all service with
  Brownsville National Bank, Texas Bank & Trust, and Bank of Texas

  	
   

  	
  Yes; all service with
  Brownsville National Bank, Texas Bank & Trust, and Bank of Texas

  	
   

  	
  Immediately upon
  employment by Employer (but only for compensation earned from the Employer)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Harlingen Bancshares,
  Inc., HN Bancshares of Delaware, Inc., and Harlingen National Bank, August
  15, 1999

  	
   

  	
  Yes; all service with
  Harlingen Bancshares, Inc., HN Bancshares of Delaware, Inc., and Harlingen
  National Bank

  	
   

  	
  Yes; all service with
  Harlingen Bancshares, Inc., HN Bancshares of Delaware, Inc., and Harlingen
  National Bank

  	
   

  	
  Immediately upon
  employment by Employer (but only for compensation earned from the Employer)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Frost National Bank data
  processing location in Grapevine, Texas, March 12, 2002

  	
   

  	
  Yes; all service with
  Frost National Bank and Overton Park Bank

  	
   

  	
  Yes; all service with
  Frost National Bank and Overton Park Bank

  	
   

  	
  Immediately upon
  employment by Employer (but only for compensation earned from the Employer)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Riverway Holdings, Inc.,
  Riverway Holdings of Delaware, Inc., and Riverway Bank, February 22,
  2002

  	
   

  	
  Yes; all service with
  Riverway Holdings, Inc., Riverway Holdings of Delaware, Inc., and Riverway
  Bank

  	
   

  	
  Yes; all service with
  Riverway Holdings, Inc., Riverway Holdings of Delaware, Inc., and Riverway
  Bank

  	
   

  	
  Immediately upon
  employment by Employer (but only for compensation earned from the Employer)

  

 

3

 

	
  San Juan Bancshares, Inc.,
  San Juan Delaware Financial Corporation, Texas Country Bank,
  November 18, 2002

  	
   

  	
  Yes; all service with San
  Juan Bancshares, Inc., San Juan Delaware Financial Corporation, Texas Country
  Bank

  	
   

  	
  Yes; all service with San
  Juan Bancshares, Inc., San Juan Delaware Financial Corporation, Texas Country
  Bank

  	
   

  	
  Immediately upon
  employment by Employer (but only for compensation earned from the Employer)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Corpus Christi Bancshares,
  Inc., CCB-Nevada, Inc., and The First State Bank, February 14, 2003

  	
   

  	
  Yes; all service with
  Corpus Christi Bancshares, Inc., CCB-Nevada, Inc., and The First State Bank

  	
   

  	
  Yes; all service with
  Corpus Christi Bancshares, Inc., CCB-Nevada, Inc., and The First State Bank

  	
   

  	
  Immediately upon
  employment by Employer (but only for compensation earned from the Employer)

  

 

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00048-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00048-of-00352.parquet"}]]