Document:

exv10w24

 

Exhibit 10.24

Cavium Networks, Inc.

2007 Equity Incentive Plan

Option Agreement

(Incentive Stock Option or Nonstatutory Stock Option)

     Pursuant to your Option Grant Notice (“Grant Notice”) and this Option Agreement, Cavium
Networks, Inc. (the “Company”) has granted you an option under its 2007 Equity Incentive Plan (the
“Plan”) to purchase the number of shares of the Company’s Common Stock indicated in your Grant
Notice at the exercise price indicated in your Grant Notice. Defined terms not explicitly defined
in this Option Agreement but defined in the Plan shall have the same definitions as in the Plan.

     The details of your option are as follows:

     1. Vesting. Subject to the limitations contained herein, your option will vest as
provided in your Grant Notice, provided that vesting will cease upon the termination of your
Continuous Service.

     2. Number of Shares and Exercise Price. The number of shares of Common Stock subject
to your option and your exercise price per share referenced in your Grant Notice may be adjusted
from time to time for Capitalization Adjustments.

     3. Exercise Restriction for Non-Exempt Employees. In the event that you are an
Employee eligible for overtime compensation under the Fair Labor Standards Act of 1938, as amended
(i.e., a “Non-Exempt Employee”), you may not exercise your option until you have completed at least
six (6) months of Continuous Service measured from the Date of Grant specified in your Grant
Notice, notwithstanding any other provision of your option.

     4. Method of Payment. Payment of the exercise price is due in full upon exercise of
all or any part of your option. You may elect to make payment of the exercise price in cash or by
check, bank draft or money order payable to the Company or in any other manner permitted by your
Grant Notice, which may include one or more of the following:

          (a) In the Company’s sole discretion at the time your option is exercised and provided that at
the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street
Journal, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve
Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check)
by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to
the Company from the sales proceeds.

          (b) In the Company’s sole discretion at the time your option is exercised and provided that at
the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street
Journal, by delivery to the Company (either by actual delivery or attestation) of already-owned
shares of Common Stock that are owned free and clear of any liens, claims,

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encumbrances or security interests, and that are valued at Fair Market Value on the date of
exercise. “Delivery” for these purposes, in the sole discretion of the Company at the time you
exercise your option, shall include delivery to the Company of your attestation of ownership of
such shares of Common Stock in a form approved by the Company. Notwithstanding the foregoing, you
may not exercise your option by tender to the Company of Common Stock to the extent such tender
would violate the provisions of any law, regulation or agreement restricting the redemption of the
Company’s stock.

          (c) By a “net exercise” arrangement pursuant to which the Company will reduce the number of
shares of Common Stock issued upon exercise of your option by the largest whole number of shares
with a Fair Market Value that does not exceed the aggregate exercise price; provided, however, that
the Company shall accept a cash or other payment from you to the extent of any remaining balance of
the aggregate exercise price not satisfied by such reduction in the number of whole shares to be
issued; provided further, that shares of Common Stock will no longer be outstanding under your
option and will not be exercisable thereafter to the extent that (i) shares are used to pay the
exercise price pursuant to the “net exercise,” (ii) shares are delivered to you as a result of such
exercise, and (iii) shares are withheld to satisfy tax withholding obligations.

          (d) In any other form of legal consideration that may be acceptable to the Board.

     5. Whole Shares. You may exercise your option only for whole shares of Common Stock.

     6. Securities Law Compliance. Notwithstanding anything to the contrary contained
herein, you may not exercise your option unless the shares of Common Stock issuable upon such
exercise are then registered under the Securities Act or, if such shares of Common Stock are not
then so registered, the Company has determined that such exercise and issuance would be exempt from
the registration requirements of the Securities Act. The exercise of your option also must comply
with other applicable laws and regulations governing your option, and you may not exercise your
option if the Company determines that such exercise would not be in material compliance with such
laws and regulations.

     7. Term. You may not exercise your option before the commencement or after the
expiration of its term. The term of your option commences on the Date of Grant and expires upon
the earliest of the following:

          (a) three (3) months after the termination of your Continuous Service for any reason other
than your Disability or death (the “Three Month Post-Termination Exercise Period”);

          (b) twelve (12) months after the termination of your Continuous Service due to your
Disability;

          (c) eighteen (18) months after your death if you die either during your Continuous Service or
within three (3) months after your Continuous Service terminates;

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          (d) the Expiration Date indicated in your Grant Notice; or

          (e) the day before the seventh (7th) anniversary of the Date of Grant.

     If your option is an Incentive Stock Option, note that to obtain the federal income tax
advantages associated with an Incentive Stock Option, the Code requires that at all times beginning
on the date of grant of your option and ending on the day three (3) months before the date of your
option’s exercise, you must be an employee of the Company or an Affiliate, except in the event of
your death or Disability. The Company has provided for extended exercisability of your option
under certain circumstances for your benefit but cannot guarantee that your option will necessarily
be treated as an Incentive Stock Option if you continue to provide services to the Company or an
Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise
your option more than three (3) months after the date your employment with the Company or an
Affiliate terminates.

     8. Extension of Term. 

          (a) If during any part of the Three Month Post-Termination Exercise Period, your option is not
exercisable solely because of the condition set forth in Section 6, your option shall not expire
until the earlier of the Expiration Date indicated in your Grant Notice or until it shall have been
exercisable for an aggregate period of three (3) months after the termination of your Continuous
Service.

          (b) If during any part of the Three Month Post-Termination Exercise Period, the sale of shares
issued upon exercise of your option would violate the Company’s Insider Trading Policy, your option
shall not expire until the earlier of (i) the Expiration Date indicated in your Grant Notice, (ii)
until it shall have been exercisable for an aggregate period of three (3) months after the
termination of your Continuous Service during which you can sell the shares issued upon exercise of
your option without violating the Company’s Insider Trading Policy, (iii) the 15th day
of the third month after the date on which your option would cease to be exercisable but for this
section, or (iv) such longer period as would not cause your option to become subject to Section
409A(a)(1) of the Code.

          (c) If (i) you are a Non-Exempt Employee, (ii) you terminate your Continuous Service within
six (6) months after the Date of Grant specified in your Grant Notice, and (iii) you have vested in
a portion of your option at the time of your termination of Continuous Service, your option shall
not expire until the earlier of (A) the later of the date that is seven (7) months after the Date
of Grant specified in your Grant Notice or the date that is three (3) months after the termination
of your Continuous Service or (B) the Expiration Date indicated in your Grant Notice.

     9. Exercise.

          (a) You may exercise the vested portion of your option during its term by delivering a Notice
of Exercise (in a form designated by the Company) together with the exercise price to the Secretary
of the Company, or to such other person as the Company may designate, during regular business
hours, together with such additional documents as the Company may then require.

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          (b) By exercising your option you agree that, as a condition to any exercise of your option,
the Company may require you to enter into an arrangement providing for the payment by you to the
Company of any tax withholding obligation of the Company arising by reason of (i) the exercise of
your option, or (ii) the disposition of shares of Common Stock acquired upon such exercise.

          (c) If your option is an Incentive Stock Option, by exercising your option you agree that you
will notify the Company in writing within fifteen (15) days after the date of any disposition of
any of the shares of the Common Stock issued upon exercise of your option that occurs within two
(2) years after the date of your option grant or within one (1) year after such shares of Common
Stock are transferred upon exercise of your option.

     10. Transferability.

          (a) Restrictions on Transfer. Your option shall not be transferable except by will or by the
laws of descent and distribution and shall be exercisable during your lifetime only by you;
provided, however, that the Board may, in its sole discretion, permit you to transfer your option
in a manner that is not prohibited by applicable tax and/or securities laws upon your request.
Additionally, if your option is an Incentive Stock Option, the Board may permit you to transfer
your option only to the extent permitted by Sections 421, 422 and 424 of the Code and the
regulations and other guidance thereunder.

          (b) Domestic Relations Orders. Notwithstanding the foregoing, your option may be transferred
pursuant to a domestic relations order; provided, however, that if your option is an Incentive
Stock Option, your option shall be deemed to be a Nonstatutory Stock Option as a result of such
transfer.

          (c) Beneficiary Designation. Notwithstanding the foregoing, you may, by delivering written
notice to the Company, in a form provided by or otherwise satisfactory to the Company, designate a
third party who, in the event of your death, shall thereafter be entitled to exercise your option.

     11. Option not a Service Contract. Your option is not an employment or service
contract, and nothing in your option shall be deemed to create in any way whatsoever any obligation
on your part to continue in the employ of the Company or an Affiliate, or of the Company or an
Affiliate to continue your employment. In addition, nothing in your option shall obligate the
Company or an Affiliate, their respective stockholders, Boards of Directors, Officers or Employees
to continue any relationship that you might have as a Director or Consultant for the Company or an
Affiliate.

     12. Withholding Obligations.

          (a) At the time you exercise your option, in whole or in part, or at any time thereafter as
requested by the Company, you hereby authorize withholding from payroll and any other amounts
payable to you, and otherwise agree to make adequate provision for (including by means of a
“cashless exercise” pursuant to a program developed under Regulation T as promulgated by the
Federal Reserve Board to the extent permitted by the Company), any sums

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required to satisfy the federal, state, local and foreign tax withholding obligations of the
Company or an Affiliate, if any, which arise in connection with the exercise of your option.

          (b) Upon your request and subject to approval by the Company, in its sole discretion, and
compliance with any applicable legal conditions or restrictions, the Company may withhold from
fully vested shares of Common Stock otherwise issuable to you upon the exercise of your option a
number of whole shares of Common Stock having a Fair Market Value, determined by the Company as of
the date of exercise, not in excess of the minimum amount required to be withheld by law (or such
lower amount as may be necessary to avoid variable award accounting). Any adverse consequences to
you arising in connection with such share withholding procedure shall be your sole responsibility.

          (c) You may not exercise your option unless the tax withholding obligations of the Company
and/or any Affiliate are satisfied. Accordingly, you may not be able to exercise your option when
desired even though your option is vested, and the Company shall have no obligation to issue a
certificate for such shares of Common Stock or release such shares of Common Stock from any escrow
provided for herein unless such obligations are satisfied.

     13. Notices. Any notices provided for in your option or the Plan shall be given in
writing and shall be deemed effectively given upon receipt or, in the case of notices delivered by
mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid,
addressed to you at the last address you provided to the Company.

     14. Governing Plan Document. Your option is subject to all the provisions of the
Plan, the provisions of which are hereby made a part of your option, and is further subject to all
interpretations, amendments, rules and regulations, which may from time to time be promulgated and
adopted pursuant to the Plan. In the event of any conflict between the provisions of your option
and those of the Plan, the provisions of the Plan shall control.

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Exhibit 10.1

CHAIRMAN EMERITUS AND CONSULTING AGREEMENT

     This Chairman Emeritus and Consulting Agreement (the “Agreement”) is made and entered into as
of April 8, 2008 (the “Effective Date”) by and between Texas Capital Bancshares, Inc., which is the
holding company of Texas Capital Bank, N.A. (collectively, the “Company” or “TCB”), and Joseph M.
Grant (“Executive”). TCB and Executive are referred to in this Agreement as the “Parties”.

RECITALS

     A. Executive currently serves as Chairman and Chief Executive Officer (“CEO”) of TCB.

     B. Executive believes it is appropriate to transition his position as Chairman and CEO of TCB
effective immediately following the Company’s 2008 Annual Meeting of Shareholders (the “Transition
Time”), but the Company desires to retain the services of Executive and benefit from his knowledge
and goodwill for a period following May 19, 2008 (the “Transition Date”).

     C. In light of the foregoing, Executive has agreed to continue in the employ of the Company as
Senior Executive Advisor for the period beginning on the Transition Date and ending November 18,
2009. Commencing on November 19, 2009, Executive further agrees to undertake certain duties and
responsibilities and to perform certain consulting services for a period of up to five years, all
as more fully described in this Agreement.

     D. In further recognition of his services for the Company, the Board of Directors of the
Company (the “Board”) will appoint Executive as Chairman Emeritus, effective from the Transition
Time.

     In consideration of the foregoing premises and the mutual covenants contained in this
Agreement, the Parties agree as follows:

     I. Position and Services .

          A. Chairman Emeritus. The Board hereby appoints Executive, effective from the
Transition Time, as Chairman Emeritus of the Board.

          B. Senior Executive Advisor. During the period commencing from the Transition Time
and ending November 18, 2009 (the “Employment Period”), and subject to the terms of this Agreement
(including the early termination provisions set forth in Agreement Paragraph VI.), Executive agrees
to serve, and TCB agrees to employ Executive, as Senior Executive Advisor. As an employee of TCB,
Executive agrees to perform the following employment duties commensurate with his status and
experience with TCB: (i) advise the Board and the executive management of TCB regarding, and
monitor TCB’s investment in, BankCap Partners; (ii) assist with the transition of Executive’s prior
duties and responsibilities as Chairman and CEO to his successor; (iii) provide advice and counsel
upon request of the Board or TCB’s executive management relating to business planning strategy,
strategic acquisitions, dispositions, capital raising activities and major financings; (iv) promote
TCB’s best interests; and (v) perform such other duties as the Board and Executive may reasonably
agree to from time to time consistent with Executive’s position as Senior Executive Advisor and
Chairman Emeritus (everything in (i) through (v) collectively, the “Employment Services”). It is
agreed that the Employment Services may not require Executive’s full business time and attention,
particularly toward the end of the Employment Period. The Parties expect and intend, however, that
the average level of bona fide services to be provided by Executive during the Employment Period
shall exceed 20% of the average level of the bona fide services provided by Executive during the
36-month period immediately preceding May 19, 2008.

 

 

For the avoidance of doubt, nothing in this Agreement shall preclude Executive from engaging in
appropriate civic, charitable or religious activities and devoting a reasonable amount of time to
private investments or boards or other activities provided that such activities do not interfere or
conflict with Executive’s responsibilities to TCB and are not likely to be contrary to TCB’s
interests and do not violate the provisions of Agreement Paragraph IV.

     C. Consultant. During the period commencing on November 19, 2009 and ending on the
first to occur of either (i) a Change in Control (as defined in Agreement Paragraph II.B.) or (ii)
January 31, 2013 (the “Consulting Period”), subject to the terms of this Agreement (including the
early termination provisions set forth in Agreement Paragraph VI.), TCB agrees to retain Executive,
and Executive agrees to serve, as a consultant to TCB for the purpose of providing advice and
offering other assistance to the Board and the executive management of TCB consistent with
Executive’s position and with the resources of Executive on matters as the Board reasonably
requests (the “Consulting Services”). TCB has agreed to retain Executive as a consultant following
his employment with TCB in reliance on the special and unique abilities of Executive in rendering
the Consulting Services and Executive will use Executive’s reasonable efforts, skills, judgment and
abilities in rendering the Consulting Services. Executive shall perform the Consulting Services in
a diligent, trustworthy, and businesslike manner, with the purpose of advancing the business of
TCB. Executive’s duties during the Consulting Period shall not require Executive to perform an
average of more than 10 hours per month of Consulting Services. Notwithstanding anything to the
contrary in this Agreement, the Parties intend that the average level of bona fide services to be
provided by Executive during the Consulting Period shall be equal to or less than 20% of the
average level of the bona fide services provided by Executive during the 36-month period
immediately preceding the last day of the Employment Period.

     For purposes of this Agreement, the Employment Services and the Consulting Services shall be
collectively referred to herein as the “Executive Services”.

          D. Mutual Representations. Executive represents to TCB that (i) Executive is not
violating and will not violate any contractual, legal or fiduciary obligation or burden to which
Executive is subject by entering into this Agreement or providing the Executive Services in
accordance with the Agreement’s terms, and (ii) Executive is under no contractual, legal or
fiduciary obligation or burden which may reasonably be expected to interfere with Executive’s
ability to perform the Executive Services in accordance with the Agreement’s terms. TCB represents
to Executive that (i) TCB is not violating and will not violate any contractual, legal or fiduciary
obligation or burden to which it or its Board is subject by entering into this Agreement or
performing TCB’s obligations in accordance with the Agreement’s terms and (ii) this Agreement has
been duly authorized, executed and delivered by TCB.

          E. Nature of Relationship Between Parties. During the Employment Period, Executive
shall render the Employment Services described in this Agreement as an employee. During the
Consulting Period, Executive shall render the Consulting Services in this Agreement as an
independent contractor. Except as otherwise agreed by TCB, Executive will have no authority or
power to bind TCB regarding third parties or to represent to third parties that Executive has
authority or power to bind TCB. It is not the intention of the Parties to create, by virtue of the
portion of this Agreement regarding Consulting Services, any employment relationship, trust,
partnership or joint venture between Executive and TCB or any of its affiliates or, except as
specifically provided herein, to make them legal representatives or agents of each other or to
create any fiduciary relationship or additional contractual relationship among them for the
duration of the Consulting Period. As an independent contractor, Executive will not be eligible
for any TCB-provided benefits, including, without limitation, short term disability and long term
disability, except as provided for in Agreement Paragraph II.

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     II. Consideration.

          A. Consideration for Employment Services. During the Employment Period, TCB will pay
Executive a monthly base salary of $29,583.33, less applicable withholdings, payable in accordance
with TCB’s normal payroll practices (the “Base Salary”). Each payment of Executive’s Base Salary
made in accordance with this Agreement Paragraph II.A. shall be treated as a separate payment for
purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) to the
extent Section 409A of the Code applies to such payments. In addition to Executive’s Base Salary,
Executive shall be entitled to (i) a one-time bonus for the 2008 performance year, payable prior to
March 15, 2009, equal to the average amount of the bonuses for the 2008 performance year paid to
George Jones as President and CEO, Peter B. Bartholow as Chief Financial Officer, and Keith C.
Cargill as Executive Vice President — Chief Lending Officer, or their successors, less all
applicable withholdings; and (ii) a one-time bonus relating to the period he is employed by TCB
during 2009 (January 1, 2009 through November 18, 2009), payable on March 15, 2010, equal to eighty
seven and one-half percent (87.5%) of the average amount of the bonuses for the 2009 performance
year paid to George Jones as President and CEO, Peter B. Bartholow as Chief Financial Officer, and
Keith C. Cargill as Executive Vice President — Chief Lending Officer, or their successors.

          B. Change in Control Bonus. In addition to the amounts described in Agreement
Paragraph II.A. and as additional consideration for the Employment Services, TCB shall pay
Executive a lump sum cash payment equal to $650,000, less applicable withholdings, if (i) prior to
November 19, 2009, TCB enters into a definitive and binding agreement with an unrelated third party
(the “Purchase Agreement”) for purposes of causing a Change in Control to occur; and (ii) a Change
in Control is subsequently consummated (either between the parties to the Purchase Agreement or
pursuant to an alternative transaction that results from continuing negotiations between the
parties to the Purchase Agreement) prior to or on November 19, 2010. Any bonus payable pursuant to
this Agreement Paragraph II.B. shall be paid within thirty (30) days of the effective date of the
Change in Control. For purposes of this Agreement, a Change in Control is deemed to have occurred,
as determined by the Board in its sole discretion (provided that such determination is consistent
with other determinations made by the Board pursuant to substantially similar definitions), at such
time as:

     (i) any “person” (as the term is used in Section 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)) is or becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of voting securities of TCB representing more than 50% of TCB’s
outstanding voting securities or rights to acquire such securities except for any
voting securities issued or purchased under any employee benefit plan of TCB or its
subsidiaries; or

     (ii) individuals who constitute the Board on the date hereof (the “Incumbent
Board”) cease for any reason to constitute at least a majority thereof, provided
that any person becoming a director subsequent to the date hereof whose election was
approved by a vote of at least three-quarters of the directors comprising the
Incumbent Board, or whose nomination for election by TCB’s stockholders was approved
by a nominating committee solely composed of members which are Incumbent Board
members, shall be, for purposes of this clause (ii), considered as through he were a
member of the Incumbent Board; or

     (iii) a plan of reorganization, merger, consolidation, sale of all or
substantially all of TCB’s assets or a similar transaction occurs or is effectuated
in which TCB is not the resulting entity; provided, however, that such an event
listed above will be

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deemed to have occurred or to have been effectuated upon receipt of all required
regulatory approvals not including the lapse of any required waiting periods.

          C. Consulting Fee. During the Consulting Period, TCB shall pay Executive a consulting
fee of $50,000 for each 12-month period during the Consulting Period, payable in equal bi-monthly
payments. Each bi-monthly payment made in accordance with this Agreement Paragraph II.C. shall be
treated as a separate payment for purposes of Section 409A of the Code to the extent Section 409A
applies to such payments. Payment of any of the fees described in this Agreement Paragraph II.C.
is conditioned upon Executive’s execution of a Waiver and Release of Claims in the form attached
hereto as Exhibit A relating to the Employment Period, within the thirty (30) day period
following the end of the Employment Period.

          D. Continued 2005 LTIP Benefits. Executive’s retirement as Chairman and CEO as
described in this Agreement, and eventual performance of services as a consultant to TCB will not
affect the rights that Executive may have pursuant to any awards granted prior to such retirement
under TCB’s 2005 Long Term Incentive Plan (the “2005 LTIP”), provided that this Agreement is not
terminated by the Company for “Cause” or by the Executive without “Good Reason” (as provided in
more detail in Agreement Paragraph VI.). Executive’s provision of Consulting Services shall count
for vesting purposes under such awards. Notwithstanding anything to the contrary contained
herein, TCB agrees to amend the grant of restricted stock units made to Executive, pursuant to that
certain Restricted Stock Unit Award Agreement dated January 31, 2007 under the 2005 LTIP, to
provide that such grant shall vest in accordance with the following schedule: (i) 25% of the
aggregate restricted stock units subject to such award shall vest on each of December 31, 2008,
December 31, 2009, December 31, 2010, and December 31, 2011, or (ii) to the extent any portion of
such award is unvested as of the date of a Change in Control (as defined in the 2005 LTIP), 100% of
all unvested restricted stock units shall vest as of the effective date of such Change in Control.

          E. Benefits. During the Employment Period, Executive (and his eligible dependents),
subject to the eligibility requirements and terms of the applicable plans, shall be entitled to
participate in TCB sponsored employee benefit plans, pension plans, 401(k) plans, medical benefit
plans, group life insurance plans, hospitalization plans, or other employee welfare plans that TCB
may adopt for employees generally from time to time during the Employment Period, and as such plans
may be modified, amended, terminated, or replaced from time to time. Notwithstanding the
foregoing, if Executive elects coverage under TCB’s group health plan, TCB agrees to pay the
premiums for Executive and his eligible dependents for such coverage during the Employment Period;
provided, that the Executive understands and agrees that such premium payments made by TCB shall be
included in his taxable income to the extent required by applicable law.

          During the Consulting Period, Executive shall be entitled to continuation of his health
insurance coverage in accordance with the provisions of the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (“COBRA”) and the terms of TCB’s group health plan then in
effect. Notwithstanding the foregoing, TCB agrees to use it best commercial efforts to continue to
make group health insurance coverage available to Executive for the entire Consulting Period,
provided that Executive must pay the applicable premium payments for such coverage and, to the
extent applicable, any incremental increase in costs incurred by TCB relating to extension of such
coverage past the applicable COBRA continuation period.

          Notwithstanding anything to the contrary contained herein, the Company retains the right to
amend, modify or terminate any of its employee benefit plans, policies or programs at any time.

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          F. Office Space and Employment Compensation to Secretary. During the Employment
Period, TCB shall provide to Executive a furnished office space suitable to Executive’s position
with TCB either within TCB’s offices or at such other reasonable location the Board selects that is
as close as commercially possible to TCB’s office. Notwithstanding the foregoing, upon completion
of BankCap Partners’ space in TCB’s new building, Executive’s office shall be relocated to BankCap
Partners’ subleased office space within TCB’s new building and TCB’s obligations to provide office
space to Executive under this Agreement Paragraph II.F. shall immediately terminate. TCB further
agrees to provide Executive with secretarial assistance by Mary Cunningham, who shall continue to
be an employee of TCB, through May 19, 2009, with such secretary’s compensation and benefits
commensurate with her compensation and benefits as of the date of this Agreement (or, in the event
that Ms. Cunningham’s employment with TCB terminates for any reason, a replacement secretary
reasonably acceptable to Executive). The terms of this Paragraph II.F. will not alter or affect
Ms. Cunningham’s at-will employment status with TCB. To the extent any benefits provided under
Agreement Paragraphs II.E and II.F. are otherwise taxable to Executive, such benefits shall, for
purposes of Section 409A of the Code, be provided as separate monthly in-kind payments of those
benefits, and to the extent those benefits are subject to and not otherwise exempt from Section
409A of the Code, 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.

          G. Payments. The consideration described in this Agreement Paragraph II shall be the
sole compensation to which Executive shall be entitled for performance of the Executive Services.

          H. Payment of Taxes. With respect to the Employment Services, TCB shall be solely
responsible for withholding taxes or necessary payments to any taxing authority based on TCB’s
payment of the consideration for the Employment Services under this Agreement. With respect to the
Consulting Services, Executive agrees to be solely responsible for withholding taxes or necessary
payments to any taxing authority based on TCB’s payment of the consideration for the Consulting
Services under this Agreement. Executive further agrees not to seek or make any claim against TCB
or any TCB Released Party for compensation, damages, costs, interest, fees, assessments,
withholdings, penalties or other losses, should a claim or determination be made that Executive has
failed to withhold or make the payments contemplated by the preceding sentence. The withholdings
referenced in this Agreement Paragraph II.H. include, without limitation, Federal income tax, FICA,
and Medicare.

          I. BankCap Partners Director Fees. For all periods on and after May 19, 2008,
Executive shall be entitled to personally receive any fees payable to Executive for his duties as a
director of BankCap Partners, including the 31/2% carried interest associated with such fees.
Notwithstanding the foregoing, solely for the calendar year 2008, any cash payments (including,
without limitation, any distributions) and any tax ramifications associated with the cash portion
of the directors’ fees and carried interest shall be pro rated between TCB and Executive based upon
the number of days that each party respectively was entitled to the carried interest during the
2008 calendar year.

     III. Relinquishment of Executive Employment Agreement

     In consideration of the benefits provided under this Agreement, Executive hereby relinquishes
and waives any and all amounts, benefits or other rights to which he may have been entitled under
the Executive Employment Agreement between Executive and TCB dated as of December 20, 2004 (the
“Employment Agreement”). This relinquishment and waiver of the Employment Agreement shall be
effective as of the Effective Date. The Parties acknowledge that Executive’s retirement as
Chairman and CEO, appointment as Chairman Emeritus, and eventual separation from service from TCB
is not in connection with or in anticipation of a “Change in Control” (as such term is defined in
the Employment Agreement).

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     IV. Additional Protections.

          A. Confidentiality. TCB agrees to provide Executive with some or all of its
Confidential Information (as defined in this Agreement Paragraph IV.A.) during the Term. Likewise,
Executive acknowledges and agrees that all information about TCB and its affiliates which was
previously provided in the course of employment with TCB and information which may be provided to
him in the course of his engagement under this Agreement are and will continue to be the exclusive
property of TCB and its affiliates. Confidential Information includes, without limitation, TCB’s
development of unique concepts, lending practices, sales presentations, marketing programs,
marketing strategies, business practices, methods of operation, pricing information, proprietary
information, computer software programs, tapes and disks concerning its operations systems,
customer lists, customer leads, documents identifying past, present, and future customers, customer
profile and preference data, hiring and training methods, investment policies, financial and other
confidential, proprietary and trade secret information concerning TCB’s operations and expansion
plans. In exchange for TCB’s promise to provide Executive with Confidential Information, Executive
agrees to keep all Confidential Information in strict confidence, not disclosing any of this
information to any third person except (i) as consented to by TCB, or (ii) as required by law or
judicial or regulatory process; provided, however, that Executive shall not be obligated to keep in
confidence any information which has become generally available to the public without any breach by
Executive of this Agreement Paragraph IV.A. Regarding clause (ii), Executive agrees not to disclose
information which TCB directs him not to disclose, whether or not Executive believes that
disclosure is appropriate under clause (ii), or which he is obligated not to disclose under the
Non-Disparagement clause in Agreement Paragraph IV.B. Executive further agrees that, if requested
by TCB, he will make reasonable efforts to obtain from any third party to whom TCB discloses any
Confidential Information the written agreement (in form and substance satisfactory to TCB in its
sole discretion) of any third party to keep such information confidential.

          B. Non-Disparagement. Executive and employer agree not to make any statements that
disparage the reputation of (i) TCB, its products, services or employees, or (ii) Executive.
Executive and TCB further acknowledge and agree that any breach or violation of this
non-disparagement provision shall entitle Executive or TCB to seek injunctive relief to prevent any
future breaches of this provision and/or to sue the other party on this Agreement for the immediate
recovery of any damages caused by such breach. For purposes of this provision, TCB’s obligation
shall be limited to the Governance and Nominating Committee of the Board and executives who are
members of TCB’s Senior Policy Committee.

          C. Protective Covenants. In consideration of the numerous mutual promises and
covenants contained in this Agreement between TCB and Executive, including, without limitation,
TCB’s promise to provide Executive with some or all of TCB’s Confidential Information as stated in
Agreement Paragraph IV.A., and to protect TCB’s Confidential Information and to reduce the
likelihood of irreparable harm that would occur in the event the Confidential Information is used
or disclosed to a TCB competitor, Executive agrees to the following protective covenants in
Agreement Paragraphs IV.C. (i)-(iv). The duration of these protective covenants extends from the
beginning of the Agreement’s Term and ends on the first to occur of any one of the following: (i)
the date that is twelve (12) months following the effective date of a Change in Control (as defined
in Agreement Paragraph II.B.), provided that Executive is entitled to receive a payment pursuant to
Agreement Paragraph II.B. (Change in Control Bonus) in connection with such Change in Control; (ii)
the effective date of a Change in Control (as defined in Agreement Paragraph II.B.) in the event
Executive is not entitled to receive a payment pursuant to Agreement Paragraph II.B. (Change in
Control Bonus) in connection with such Change in Control; or (iii) January 31, 2013. Accordingly,
subject to the terms of this Section IV.C., Executive will not, either directly or indirectly,
either through any form of ownership or as an individual, director, officer, principal,

6

 

agent, employee, employer, adviser, consultant, shareholder, partner, member or in any individual
or representative capacity whatsoever:

	 	(i)	 	Compete for or solicit business for on behalf
of any person or business entity operating a state or national bank or
company providing similar services with a place of business in Texas or
anywhere that TCB provides services or has a place of business;
	 
	 	(ii)	 	Own, operate, participate in, undertake any
employment with, or have any interest in, any entity with a place of
business in Texas or anywhere that TCB provides services or has a place
of business related to the operation of a state or national bank or
company providing similar services, except owning publicly traded stock
for investment purposes only in which Executive owns less than 5% or
possessing any ownership interest in BankCap Partners, provided that
BankCap Partners does not own, operate, participate in, or have any
interest in, any competing entity with a place of business in Texas or
anywhere that TCB provides services.
	 
	 	(iii)	 	Compete for or solicit business related to the
operation of a state or national bank or company providing similar
services from any TCB (or its successors by merger) customer with whom
Executive had contact during the Term or until January 31, 2013,
whichever is later;
	 
	 	(iv)	 	Request, induce or attempt to influence any
employee of TCB to terminate his or her employment with TCB.

          Executive hereby acknowledges that the geographical boundaries, scope of the prohibited
activities, and the time duration in Paragraphs IV.C. (i)-(iv) are reasonable and no broader than
necessary to protect TCB’s legitimate business interests.

     V. Mutual Release of Claims.

          A. By Executive. In consideration of the mutual promises contained in this Agreement,
including TCB’s promises to pay Executive consideration under Agreement Paragraph II, Executive, on
behalf of himself, his heirs, executors, successors and assigns, irrevocably and unconditionally
releases, waives, and forever discharges TCB and all of its parents, divisions, subsidiaries,
affiliates, joint venture partners, partners, and related companies, and their present and former
agents, employees, officers, directors, attorneys, stockholders, plan fiduciaries, successors and
assigns (collectively, the “TCB Released Parties”), from any and all claims, demands, actions,
causes of action, costs, fees, and all liability whatsoever, whether known or unknown, fixed or
contingent, which Executive has, had, or may have against the TCB Released Parties relating to or
arising out of his employment or retirement as Chairman and CEO of TCB from the beginning of time
and up to and including the date of this Agreement’s execution. This Agreement includes, without
limitation, claims at law or equity or sounding in contract (express or implied) or tort, claims
arising under any federal, state, or local laws of any jurisdiction that prohibit age, sex, race,
national origin, color, disability, religion, veteran, military status, sexual orientation, or any
other form of discrimination, harassment, or retaliation (including, without limitation, the Age
Discrimination in Employment Act, the Older Workers Benefit Protection Act, the Americans with
Disabilities Act, Title VII of the 1964 Civil Rights Act, the Civil Rights Act of 1991, 42 U.S.C. §
1981, the Rehabilitation Act, the Family and Medical Leave Act, the Sarbanes-Oxley Act, the
Employee Polygraph Protection Act, the Uniformed Services Employment and

7

 

Reemployment Rights Act of 1994, the Texas Commission on Human Rights Act (as amended and renamed
from time to time), any federal, state, local or municipal whistleblower protection or
anti-retaliation statute or ordinance, or any other federal, state, local, or municipal laws of any
jurisdiction), claims arising under the Employee Retirement Income Security Act (except any
employee benefits or employee participation rights as contained in this Agreement), or any other
statutory or common law claims related to his employment or retirement as Chairman and CEO of TCB
from the beginning of time and up to and including the date of this Agreement’s execution.

          B. By TCB. In consideration of the mutual promises contained in this Agreement,
including Executive’s promises to comply with the provisions of Agreement Paragraph IV., TCB, on
behalf of itself and all of its parents, divisions, subsidiaries, affiliates, joint venture
partners, partners, and related companies, and their present and former agents, employees,
officers, directors, attorneys, stockholders, plan fiduciaries, successors and assigns, irrevocably
and unconditionally releases, waives, and forever discharges, Executive and his heirs, executors,
successors and assigns (the “Executive Released Parties”), from any and all claims, demands,
actions, causes of action, costs, fees, and all liability whatsoever, whether known or unknown,
fixed or contingent, which TCB has, had, or may have against the Executive Released Parties
relating to or arising out of his employment or retirement as Chairman and CEO of TCB from the
beginning of time and up to and including the date of this Agreement’s execution. This Agreement
includes, without limitation, claims at law or equity or sounding in contract (express or implied)
or tort, claims arising under any federal, state or local laws; or any other statutory or common
law claims related to Executive’s employment or retirement as Chairman and CEO of TCB from the
beginning of time and up to and including the date of this Agreement’s execution.

     VI. Term of Agreement; Termination.

          A. Term. Except as otherwise provided in Agreement Paragraph IV.C., unless earlier
terminated upon (i) the termination of this Agreement under Agreement Paragraph VI. or (ii) the
dissolution, winding-up and termination of TCB, this Agreement shall be effective for a period
commencing on the Effective Date, and ending on the first to occur of either (i) a Change in
Control (as defined in Agreement Paragraph II.B.), or (ii) January 31, 2013 (the “Term”).

          B. Termination by TCB for Cause or Termination by Executive without Good Reason. This
Agreement may be terminated at any time by TCB for Cause or by Executive without Good Reason. If
this Agreement is terminated for Cause or without Good Reason, TCB shall have no further obligation
to Executive under this Agreement except to provide any consideration due to Executive under
Agreement Paragraph II through the date of the Agreement’s termination.

          “Cause” shall mean any of the following events: (i) the material breach by Executive of the
provisions of Agreement Paragraph IV.A., B. or C. and the failure of Executive to cure the same in
all material respects within fifteen (15) days after written notice thereof from the CEO or his
designee; (ii) any act of fraud, misappropriation or embezzlement by Executive with respect to any
aspect of TCB’s business; (iii) the breach by Executive of any provision of this Agreement
(including, without limitation, a refusal to follow lawful directives of the Board, the CEO or
their designees that are not inconsistent with the duties of Executive’s position and the
provisions of this Agreement) and the failure of Executive to cure the same in all material
respects within fifteen (15) days after written notice thereof from the CEO or his designee; (iv)
the conviction of Executive by a court of competent jurisdiction of a felony or of a crime
involving moral turpitude; (v) the intentional failure by Executive to perform in all material
respects his duties and responsibilities (other than as a result of death or disability) and the
failure of Executive to cure the same in all material respects within fifteen (15) days after
written notice thereof from the CEO or his designee; (vi) acceptance of employment during the
Employment Period with any

8

 

other employer except upon written permission of the Board (other than acceptance of the position
of “Chairman” with BankCap Partners); or (vii) the breach by Executive of his fiduciary duty to
TCB.

          “Good Reason” shall mean the occurrence of any of the following events: (i) a material
reduction by TCB in Executive’s Base Salary or in the fees for consulting services set forth in
Agreement Paragraph II.C., as in effect on the date of this Agreement, unless the reduction is a
proportionate reduction of the compensation of Executive and all other senior officers of TCB as
part of a company-wide effort to enhance TCB’s financial condition; (ii) without his express
written consent, the assignment of Executive to a position functionally inferior to the position
set forth in Agreement I.A and I.B.; (iii) the change of the location where Executive is based to a
location which is more than fifty (50) miles from his present location without Executive’s written
consent; or (iv) any other action or inaction of TCB that constitutes a material breach by TCB of
its obligations described in Agreement Paragraph II or Agreement Paragraph IV.B. Executive shall
give the Board thirty (30) business days notice of an intent to terminate this Agreement for “Good
Reason” as defined this Paragraph VI.B., and provide the Board with fifteen (15) calendar days
after receipt of such notice from Executive to remedy the alleged violation. In the event the
Board does not cure the violation, if Executive does not terminate this Agreement within thirty
(30) days following the last day of the Board’s cure period, the occurrence of the violation shall
not subsequently serve as Good Reason for Executive to terminate this Agreement.

          C. Termination by TCB without Cause or Termination by Executive with Good Reason.
This Agreement may be terminated at any time by TCB without Cause or by Executive with Good Reason.
If this Agreement is terminated without Cause or with Good Reason, (i) TCB shall continue to pay
Executive all payments that TCB otherwise would have paid to Executive under Agreement Paragraphs
II.A., B., C., and D. had the termination of this Agreement not occurred, at the same time and in
the same form as provided in Agreement Paragraph II, and (ii) TCB shall take all reasonable actions
necessary to ensure that Executive’s then-outstanding awards granted under the 2005 LTIP continue
to vest in accordance with their terms as if the termination of this Agreement had not occurred.

          D. Termination Due to Death or Disability. In the event that Executive dies or
suffers a Disability (as defined in this Agreement Paragraph VI.D.) prior to the end of the Term,
TCB shall provide to Executive’s estate or to Executive, as applicable, the remainder of the
consideration to be provided under Agreement Paragraphs II.A. and C. and any amounts then due and
payable under Agreement Paragraph II.B., at the same time and in the same form as provided in
Agreement Paragraph II as TCB would have otherwise paid such amounts to Executive had the
termination of this Agreement not occurred. In addition, in the event of Executive’s Disability,
TCB shall continue to provide health insurance benefits in accordance with the provisions of
Agreement Paragraph II.E. to the extent permitted by the health insurance plan of TCB in effect at
the time of Executive’s Disability. For purposes of this Agreement, “Disability” shall mean (i) a
medically determinable physical or mental impairment that can be expected to result in death or can
be expected to last for a continuous period of not less than twelve (12) months, for which
Executive is receiving income replacement benefits for a period of not less than three months under
an accident and health plan covering employees of TCB, or (ii) the inability to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment
that can be expected to result in death or can be expected to last for a continuous period of not
less than twelve (12) months.

          E. Survival. The Confidentiality, Non-Disparagement, and Protective Covenants
provisions set forth in Agreement Paragraph IV.A, B, and C, and the provisions of Agreement
Paragraphs VI.A., B, C, and D regarding the consequences of termination and TCB’s remedies, shall
survive termination or expiration of this Agreement. In addition, all provisions of this Agreement
that expressly

9

 

continue to operate after the Agreement’s termination shall survive the Agreement’s termination or
expiration in accordance with the terms of such provisions.

          F. Waiver and Release of Claims. Payment of any amount due to Executive under this
Agreement Paragraph VI. is conditioned upon Executive’s execution of a Waiver and Release of Claims
in the form attached hereto as Exhibit A, within the thirty (30) day period following the
termination of this Agreement.

     VII. Other Provisions.

          A. Notices. Any notice or other communication required, permitted or desired to be
given hereunder shall be deemed delivered when personally delivered; the next business day, if
delivered by overnight courier; the same day, if transmitted by facsimile on a business day prior
to noon, Dallas time; the next business day, if otherwise transmitted by facsimile; and the third
business day after mailing, if mailed by prepaid certified mail, return receipt requested, as
addressed or transmitted as follows (as applicable):

If to Executive:

Joseph M. Grant

4305 Overhill Drive

Dallas, Texas 75205

Telephone No.: (214) 522-5053

Facsimile No.: (214) 932-6609

With a copy to:

Sullivan & Cromwell, LLP

125 Broad Street

New York, NY 10004

Attention: Marc R. Trevino

Telephone No.: (212) 558-4239

Facsimile No.: (212) 558-3345

If to TCB:

Texas Capital Bancshares, Inc.

2100 McKinney Avenue, Suite 1250

Dallas, Texas 75201

Attn: George F. Jones, Jr., President and CEO

Telephone No.: (214) 932-6600

Facsimile No.: (214) 932-6642

With copies to:

10

 

J.R. Holland, Jr.

1601 Elm Street, Suite 4000

Dallas, Texas 75201

Telephone No.: (214) 720-1600

Facsimile No.: (214) 720-1662

and

Haynes and Boone, LLP

1221 McKinney, Suite 2100

Houston, Texas 77010

Attention: Dean J. Schaner

Telephone No.: (713) 547-2044

Facsimile No.: (713) 236-5571

or to such other address or number and to the attention of such other person or officer as either
party may designate by written notice to the other party.

          B. Choice of Law. This Agreement has been executed and delivered in and shall be
interpreted, construed and enforced pursuant to and in accordance with the laws of the State of
Texas, without giving effect to the conflicts of law principles thereof.

          C. Remedies. Executive acknowledges that the protective covenants contained in
Agreement Paragraph IV.C. and any other protections and restrictions in this Agreement, in view of
the nature of TCB’s business, are reasonable and necessary to protect TCB’s legitimate business
interests and that any violation of this Agreement would result in irreparable injury to TCB for
which there is no adequate remedy at law. In the event of a breach or a threatened breach by
Executive of any provision in this Agreement, TCB shall be entitled to a temporary restraining
order and injunctive relief restraining Executive from the commission of any breach, and to recover
TCB’s attorneys’ fees, costs and expenses related to the breach or threatened breach. Nothing
contained in this Agreement shall be construed as prohibiting TCB from pursuing any other remedies
available to it for any breach or threatened breach, including, without limitation, the recovery of
money damages, equitable relief, attorneys’ fees, and costs.

          D. Limitations on Assignment. In entering into this Agreement, TCB is relying on the
unique personal services of Executive; services from another person will not be an acceptable
substitute. Except as provided herein, neither party to this Agreement may assign this Agreement
or any of the rights or obligations set forth herein without the specific written consent of the
other party to this Agreement. Any attempted assignment in violation of this Agreement Paragraph
VII.D. shall be void. Except as provided herein, nothing in this Agreement entitled any person
other than the parties to the Agreement to any claim, cause of action, remedy or right of any kind,
including, without limitation, the right of continued employment.

          E. Legal and Other Fees. TCB will pay up to $20,000 of Executive’s reasonable legal
out-of-pocket expenses incurred by the Executive in connection with the preparation and negotiation
of this Agreement. Reimbursement of any expenses pursuant this Agreement Paragraph VII.E. shall be
made upon submission of an itemized statement or receipts by Executive documenting such expenses.

          F. Waiver. The waiver by either party of the breach or violation of any provision of
this Agreement shall not operate as, or be construed to be, a waiver of any subsequent breach of
the same or other provision hereof.

          G. Severability. If any provision or provisions of this Agreement shall be held to be
invalid, illegal, or unenforceable for any reason whatsoever, (i) the validity, legality and
unenforceability of the remaining provisions of this Agreement (including without limitation, all
portions of any Agreement Paragraphs containing any such provision held to be invalid, illegal or
unenforceable, that are not themselves invalid, illegal or unenforceable), shall not in any way be
affected or impaired thereby,

11

 

and (ii) such provision or provisions held to be invalid, illegal or unenforceable shall be limited
or modified in its or their application to the minimum extent necessary to avoid such invalidity,
illegality or unenforceability, and, as so limited or modified, such provision or provisions and
the balance of this Agreement shall be enforceable in accordance with their terms.

          H. Headings. The headings contained in this Agreement are for reference purposes only
and shall not affect in any way the meaning or interpretation of this Agreement.

          I. Counterparts. This Agreement and amendments thereto shall be in writing and may be
executed in counterparts. Each such counterpart shall be deemed an original, but both counterparts
together shall constitute one and the same instrument.

          J. Entire Agreement, Amendment, Binding Effect. This Agreement constitutes the entire
agreement between the parties concerning the subject matter hereof, and supersedes all previous
agreements, promises, and representations, including, but not limited to, any terms, conditions or
agreements set forth in the Employment Agreement. No oral statements or prior written material not
specifically incorporated herein shall be of any force and effect, and no changes in or additions
to this Agreement shall be recognized unless incorporated herein by written amendment, such
amendment to become effective on the date stipulated therein. Executive acknowledges and
represents that in executing this Agreement, he did not rely, and has not relied, on any
communications, promises, statements, inducements, or representation(s), oral or written, by TCB or
any of the TCB Released Parties, except as expressly contained in this Agreement. Any amendment to
this Agreement must be signed by all parties to this Agreement. This Agreement will be binding
upon and inure to the benefit of the parties hereto and their respective successors, heirs, legal
representatives and permitted assigns (if any).

          K. Time to Consider Agreement. Executive acknowledges that TCB has advised him in
writing that he should consult with an attorney before executing this Agreement, and he further
acknowledges that he has been given a period of twenty-one (21) calendar days within which to
review and consider the Agreement provisions. Executive understands that if he does not sign this
Agreement before the twenty-one (21) calendar day period expires, this Agreement will be withdrawn
automatically.

          L. Revocation Period. Executive understands and acknowledges that he has seven (7)
calendar days following the execution of this Agreement to revoke his acceptance of this Agreement.
This Agreement will not become effective or enforceable, and the first payments referenced in this
Agreement will not become due, until after this revocation period has expired without Executive’s
revocation. If Executive does not revoke this Agreement within the revocation period, TCB will
make the first payments referenced in this Agreement.

[Signature Page Follows]

12

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed and delivered as of the
day and year first above written.

	 	 	 	 	 
	 	TCB:

By: Texas Capital Bancshares, Inc.

 	 
	 	By:  	 	 
	 	 	J.R. Holland, Jr., as Chairman of the 	 
	 	 	Governance and Nominating Committee of the
Board of Directors 	 
	 
	 	EXECUTIVE:

 	 
	 	
 	 
	 	Joseph M. Grant 	 
	 	 	 

13

 

	 	 	 	 	 

EXHIBIT A

FORM OF WAIVER AND RELEASE OF CLAIMS

MUTUAL RELEASE

     This Mutual Release (“Release”), effective as of the date described in Release Paragraph ___
below (the “Effective Date”), is made and entered into by and between Joseph M. Grant (“Executive”)
and Texas Capital Bancshares, Inc., which is the holding company of Texas Capital Bank, N.A.
(collectively, the “Company” or “TCB”). Terms used in this Release with initial capital letters
that are not otherwise defined herein shall have the meanings ascribed to such terms in the
Chairman Emeritus and Consulting Agreement made and entered into as of April 8, 2008 by and between
TCB and Executive (the “Agreement”).

     WHEREAS, Executive and TCB are parties to the Agreement; and

     WHEREAS, Agreement Paragraph II.C. provides that Executive is entitled to certain payments and
benefits if he signs a mutual release agreement;

     NOW THEREFORE, in consideration of the mutual promises and covenants set forth herein, the
receipt and adequacy of which are acknowledged, Executive and TCB agree as follows:

     1. Mutual Release.

          A. By Executive. In consideration of the mutual promises contained in the Agreement,
including TCB’s promises to pay Executive consideration under Agreement Paragraph II, which are in
addition to anything of value to which Executive is already entitled, Executive, on behalf of
himself, his heirs, executors, successors and assigns, irrevocably and unconditionally releases,
waives, and forever discharges TCB and all of its parents, divisions, subsidiaries, affiliates,
joint venture partners, partners, and related companies, and their present and former agents,
employees, officers, directors, attorneys, stockholders, plan fiduciaries, successors and assigns
(collectively, the “TCB Released Parties”), from any and all claims, demands, actions, causes of
action, costs, fees, and all liability whatsoever, whether known or unknown, fixed or contingent,
which Executive has, had, or may have against the TCB Released Parties relating to or arising out
of his employment during the Employment Period, [the provision of services during the Consulting
Period,] or any terms of the Agreement in effect during the Employment Period, from the Effective
Date and up to and including the date of this Release. This Release includes, without limitation,
claims at law or equity or sounding in contract (express or implied) or tort, claims arising under
any federal, state, or local laws of any jurisdiction that prohibit age, sex, race, national
origin, color, disability, religion, veteran, military status, sexual orientation, or any other
form of discrimination, harassment, or retaliation (including, without limitation, the Age
Discrimination in Employment Act, the Older Workers Benefit Protection Act, the Americans with
Disabilities Act, Title VII of the 1964 Civil Rights Act, the Civil Rights Act of 1991, 42 U.S.C. §
1981, the Rehabilitation Act, the Family and Medical Leave Act, the Sarbanes-Oxley Act, the
Employee Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act of
1994, the Texas Commission on Human Rights Act (as amended and renamed from time to time), any
federal, state, local or municipal whistleblower protection or anti-retaliation statute or
ordinance, or any other federal, state, local, or municipal laws of any jurisdiction), claims
arising under the Employee Retirement Income Security Act (except any employee benefits or employee
participation rights as contained in the Agreement), or any other statutory or common law claims
related to or arising out of his employment during the Employment Period or any terms of the
Agreement in effect during the Employment Period, [the provision of services during the Consulting
Period,] from the Effective Date and up to and including the date of this Release’s execution.

14

 

          B. By TCB. In consideration of the mutual promises contained in the Agreement,
including Executive’s promises to comply with the provisions of Agreement Paragraph IV., which are
in addition to anything of value to which TCB is already entitled, TCB, on behalf of itself and
all of its parents, divisions, subsidiaries, affiliates, joint venture partners, partners, and
related companies, and their present and former agents, employees, officers, directors, attorneys,
stockholders, plan fiduciaries, successors and assigns, irrevocably and unconditionally releases,
waives, and forever discharges, Executive and his heirs, executors, successors and assigns (the
“Executive Released Parties”), from any and all claims, demands, actions, causes of action, costs,
fees, and all liability whatsoever, whether known or unknown, fixed or contingent, which TCB has,
had, or may have against the Executive Released Parties relating to or arising out of his
employment during the Employment Period, [the provision of services during the Consulting Period,]
or any terms of the Agreement in effect during the Employment Period, from the Effective Date and
up to and including the date of this Release’s execution. This Release includes, without
limitation, claims at law or equity or sounding in contract (express or implied) or tort, claims
arising under any federal, state or local laws; or any other statutory or common law claims related
to relating to or arising out of Executive’s employment during the Employment Period or any terms
of the Agreement in effect during the Employment Period, [the provision of services during the
Consulting Period,] from the Effective Date and up to and including the date of this Release.

     2. No Admission of Liability. Executive understands and agrees that this Release
shall not in any way be construed as an admission by the TCB Released Parties of any unlawful or
wrongful acts whatsoever against Executive or any other person. The TCB Released Parties
specifically disclaim any liability to or wrongful acts against Executive or any other person. TCB
understands and agrees that this Release shall not in any way be construed as an admission by the
Executive Released Parties of any unlawful or wrongful acts whatsoever against TCB or any other
person. The Executive Released Parties specifically disclaim any liability to or wrongful acts
against TCB or any other person.

     3. Time to Consider Release. Executive acknowledges that he have been advised in
writing by TCB that he should consult an attorney before executing this Release, and Executive
further acknowledges that he has been given a period of twenty-one (21) calendar days within which
to review and consider the provisions of this Release. Executive understands that if he does not
sign this Release before the twenty-one (21) calendar day period expires, this Release offer will
be withdrawn automatically.

     4. Revocation Period. Executive understands and acknowledges that he has seven (7)
calendar days following the execution of this Release to revoke his acceptance of this Release.
This Release will not become effective or enforceable, and the Payment will not become payable,
until after this revocation period has expired without his revocation. If Executive does not
revoke the Release within the revocation period, TCB commence the payments under Agreement
Paragraph II within ten (10) days after the revocation period’s expiration date.

     5. Knowing and Voluntary Release. Executive and TCB each understand that it is their
choice whether to enter into this Release and that each of their decisions to do so is voluntary
and is made knowingly.

     6. No Prior Representations or Inducements. Executive represents and acknowledges
that in executing this Release, he did not rely, and has not relied, on any communications,
statements, promises, inducements, or representation(s), oral or written, by any of the TCB
Released Parties, except as expressly contained in this Release.

     7. Choice of Law. This Release shall, in all respects, be interpreted, enforced, and
governed under the laws of the State of Texas. Executive and TCB agree that the language of this
Release shall, in all cases, be construed as a whole, according to its fair meaning, and not
strictly for, or against, any of the

15

 

parties.

     8. Severability. TCB and Executive agree that should a court declare or determine
that any provision of this Release is illegal or invalid, the validity of the remaining parts,
terms or provisions of this Release will not be affected and any illegal or invalid part, term, or
provision, will not be deemed to be a part of this Release.

     9. Counterparts. TCB and Executive agree that this Release may be executed in any
number of counterparts, each of which shall be deemed an original, but all of which together shall
be deemed one and the same instrument.

Please read carefully as this document includes a release of claims.

     IN WITNESS WHEREOF, TCB and Executive hereto evidence their agreement by their signatures.

	 	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
Executive Signature [Signature]

	 	 
TCB Representative [Signature]
	 	 
	 
	 	 	 	 
	 
Joseph M. Grant

	 	 
TCB Representative [Printed Name]	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	Date

	 	Date	 	 

16

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