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Exhibit 10.15

DENALI THERAPEUTICS INC.
OUTSIDE DIRECTOR COMPENSATION POLICY
Initially adopted and approved November 10, 2017; most recently amended and restated February 3, 2022 (the “Restatement Date”)
Denali Therapeutics Inc. (the “Company”) believes that granting equity and cash compensation to members of its Board of Directors (the “Board,” and members of the Board, the “Directors”) represents an effective tool to attract, retain, and reward Directors who are not employees of the Company (the “Outside Directors”).  This Outside Director Compensation Policy as amended and restated (the “Policy”)  formalizes the Company’s policy regarding cash compensation and grants of equity to its Outside Directors.  Unless otherwise defined in this Policy, any capitalized terms used in this Policy will have the meaning given such term in the Company’s 2017 Equity Incentive Plan, as amended from time to time (the “Plan”), or if the Plan is no longer in use at the time of an equity award, the meaning given such term or any similar term in the equity plan then in place under which such equity award is granted.  Each Outside Director will be solely responsible for any tax obligations incurred by such Outside Director as a result of the equity and cash payments such Outside Director receives under this Policy.
This amended and restated Policy will be effective as of the Restatement Date.
1.Cash Compensation
Annual Cash Retainer
Each Outside Director will be paid an annual cash retainer of $45,000, beginning for calendar year 2022.  There are no per-meeting attendance fees for attending Board meetings or meetings of any committee of the Board.  
Non-Executive Chair, Committee Chair and Committee Member Annual Cash Retainer
Effective beginning for calendar year 2022, each Outside Director who serves as the non-executive Chair of the Board, chair of a committee of the Board, or member of a committee of the Board will be eligible to earn additional annual cash retainers as follows: 

						
	Non-Executive Chair of the Board     
	$	35,000 	
		
	Chair of Audit Committee:	$	20,000 	
		
	Member of Audit Committee:	$	10,000 	
	(excluding Committee Chair)
		
	Chair of Compensation Committee:	$	15,000 	
		
	Member of Compensation Committee:	$	7,500 	
	(excluding Committee Chair)
		
	Chair of Nominating and Governance Committee:	$	10,000 	
		
	Member of Nominating and Governance Committee:	$	5,000 	
	(excluding Committee Chair)
		
	Chair of Science and Technology Committee:	$	15,000 	
		
	Member of Science and Technology Committee:	$	7,500 	
	(excluding Committee Chair)

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Payment 
Each annual cash retainer under this Policy will be paid quarterly in arrears on a prorated basis to each Outside Director who has served in the relevant capacity at any point during the immediately preceding fiscal quarter, and such payment shall be made no later than thirty (30) days following the end of such immediately preceding fiscal quarter. For the avoidance of doubt, cash retainers payable for the fiscal quarter containing the Restatement Date will be paid at the rates in effect on the Restatement Date. For purposes of clarification, an Outside Director who has served as an Outside Director, as non-executive Chair of the Board or as a member of an applicable committee (or chair thereof), as applicable, during only a portion of the relevant Company fiscal quarter will receive a pro-rated payment of the quarterly payment of the applicable annual cash retainer(s), calculated based on the number of days during such fiscal quarter such Outside Director has served in the relevant capacities.
2.Equity Compensation
Outside Directors may receive any Awards (except Incentive Stock Options) under the Plan (or the applicable equity plan in place at the time of grant), including discretionary Awards not covered under this Policy.  All grants of Awards to Outside Directors under this Section 2 will be automatic and nondiscretionary, except as otherwise provided herein, and will be made in accordance with the following provisions and all other provisions of the Plan that are not inconsistent with this Policy:
(a)Initial Awards.  
i.Initial Stock Options. Subject to Section 11 of the Plan, each person who first becomes an Outside Director on or following the Restatement Date automatically will be granted a Nonstatutory Stock Option (the “Initial Option”) covering the number of Shares equal to (x) the Initial Award Base Number multiplied by (y) sixty percent (60%); provided, however, that the number of Shares covered by an Initial Option will be rounded down to the nearest whole Share.  The Initial Option grant will be effective on the date on which such person first becomes an Outside Director on or following the Restatement Date, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy.  Notwithstanding the foregoing, a Director who was an Employee (an “Inside Director”) who ceases to be an Inside Director, but who remains a Director, will not receive an Initial Option. Subject to Section 5 below and Section 14 of the Plan, each Initial Option will vest and become exercisable as to twenty-five percent (25%) of the Shares subject to the Initial Option on the one (1)-year anniversary of the date of grant and as to one-forty-eighth (1/48th) of the Shares subject to the Initial Option on each monthly anniversary of the date of grant thereafter (and if there is no corresponding day, on the last day of the month), in each case, provided that the Outside Director continues to serve as an Outside Director through the applicable vesting date.
ii.Initial Restricted Stock Unit Awards. Subject to Section 11 of the Plan, each person who first becomes an Outside Director on or following the Restatement Date automatically will be granted a Restricted Stock Unit Award (the “Initial RSU”) covering the number of Shares determined by 
1.taking the product of (x) the Initial Award Base Number multiplied by (y) forty percent (40%); and
2.dividing such product by two (2) (representing a conversion to the Initial RSU Share number based on a 2:1 option to RSU ratio);
provided, however, that the number of Shares covered by an Initial RSU will be rounded down to the nearest whole Share.  The Initial RSU will be effective on the date on which such person first becomes an Outside Director on or following the Restatement Date, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy;.  Notwithstanding the foregoing, an Inside Director who ceases to be an Inside Director, but who remains a Director, will not receive an Initial RSU. 
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Subject to Section 5 below and Section 14 of the Plan, each Initial RSU will vest as to twenty-five percent (25%) of the Shares subject to the Initial RSU on each of the one (1)-year, two (2)-year and three (3)-year anniversaries of the date of grant (and if there is no corresponding day, on the last day of the month), and as to twenty-five percent (25%) of the Shares subject to the Initial RSU on the earlier of the four (4)-year anniversary of the grant date (and if there is no corresponding day, on the last day of the month) or the day prior to the Company’s next Annual Meeting occurring after the three (3)-year anniversary of the date of grant, in each case, provided that the Outside Director continues to serve as an Outside Director through the applicable vesting date.
(b)Initial Award Base Number.  For purposes of this Policy, “Initial Award Base Number” means the number of Shares that would be subject to an Option with a Value of $700,000 if such Option was granted under the Plan on the date on which such person first becomes an Outside Director on or following the Restatement Date.
(c)Annual Awards.  
i.Annual Stock Options.  Subject to Section 11 of the Plan and to the following sentence, on the date of each annual meeting of stockholders of the Company (each, an “Annual Meeting”), beginning with the first Annual Meeting following the Restatement Date, each Outside Director automatically will be granted a Nonstatutory Stock Option (an “Annual Option”) covering the number of Shares equal to (x) the Annual Award Base Number multiplied by (y) sixty percent (60%); provided that the number of Shares covered by each Annual Option will be rounded down to the nearest whole Share. Each Annual Option will be effective on the date of the applicable Annual Meeting, if, as of such Annual Meeting date, the applicable Outside Director will have served on the Board as a Director for at least the preceding six (6) months; provided that any Outside Director who is not continuing as a Director following the applicable Annual Meeting will not receive an Annual Option with respect to such Annual Meeting.  Subject to Section 5 below and Section 14 of the Plan, each Annual Option will vest and become exercisable as to one hundred percent (100%) of the Shares subject thereto upon the earlier of the one (1) year anniversary of the grant date or the day prior to the Company’s next Annual Meeting occurring after the grant date, in each case, provided that the Outside Director continues to serve as an Outside Director through the applicable vesting date.
ii.Annual Restricted Stock Unit Awards.  Subject to Section 11 of the Plan and to the following sentence, on the date of each Annual Meeting, beginning with the first Annual Meeting following the Restatement Date, each Outside Director automatically will be granted a Restricted Stock Unit Award (an “Annual RSU” and, together with the Annual Options, the “Annual Awards”) covering the number of Shares determined by:
1.taking the product of (x) the Annual Award Base Number multiplied by (y) forty percent (40%); and
2.dividing such product by two (2) (representing a conversion to the Annual RSU Share number based on a 2:1 option to RSU ratio);
provided that the number of Shares covered by each Annual RSU will be rounded down to the nearest whole Share.  Each Annual RSU will be effective on the date of the applicable Annual Meeting, if, as of such Annual Meeting date, the applicable Outside Director will have served on the Board as a Director for at least the preceding six (6) months; provided that any Outside Director who is not continuing as a Director following the applicable Annual Meeting will not receive an Annual RSU with respect to such Annual Meeting.  Subject to Section 5 below and Section 14 of the Plan, each Annual RSU will vest as to one hundred percent (100%) of the Shares subject thereto upon the earlier of the one (1) year anniversary of the grant date or the day prior to the Company’s next Annual Meeting occurring after the grant date, in each case, provided that the Outside Director continues to serve as an Outside Director through the applicable vesting date.
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(d)Annual Award Base Number.  For purposes of this Policy, “Annual Award Base Number” means the number of Shares that would be subject to an Option with a Value of $400,000 if such Option was granted under the Plan on the date of the applicable Annual Meeting.
(e)Value.  For purposes of this Policy, “Value” means, with respect to a stock option, its grant date fair value calculated in accordance with the Black-Scholes option valuation methodology utilized by the Company for equity grants to Company executives, or such other methodology the Board or Compensation Committee may determine prior to the grant of the stock option becoming effective, as applicable, consistent, as determined by the Board or Compensation Committee, with the general methodology used to value equity grants to Company executives. 
(f)No Discretion.  No person will have any discretion to select which Outside Directors will be granted any Awards under this Policy or to determine the number of Shares to be covered by such Awards, as applicable (except as provided in Section 6 below).
(g)Terms Applicable to all Options Granted Under this Policy. The per Share exercise price for an Option granted under this Policy will be one hundred percent (100%) of the Fair Market Value on the grant date.  The maximum term to expiration of an Option granted under this Policy will be ten (10) years, subject to earlier termination as provided in the Plan.
3.Expenses
Each Outside Director’s reasonable, customary, and properly documented expenses in connection with service on the Board or any committee of the Board will be reimbursed by the Company. 
4.Outside Director Compensation Limits

Until at least the date of the Annual Meeting held in 2025 (the “2025 Annual Meeting”), neither the cash retainers nor the Value of equity compensation payable under this Policy to Outside Directors will be raised to a level that is in excess of the 75th percentile of the cash retainers or value of equity award compensation, respectively, paid by the then-applicable Peer Group to their non-employee directors.  For purposes of this Policy, “Peer Group” means the peer group of the Company as approved by the Compensation Committee of the Board (the “Compensation Committee”) or the Board from time to time.

Notwithstanding the foregoing, newly elected or appointed Outside Directors may receive total cash and equity compensation in connection with their initial appointment or election to the Board having an aggregate value (with value of equity compensation calculated as the Value of such equity compensation under the Policy) of up to two times (2x) the total of (x) the aggregate amount of annual cash retainers (for the avoidance of doubt, including all cash retainers for serving as an Outside Director, including cash retainers for serving as non-executive Chair of the Board or as a chair or member of an applicable committee) that could be provided to any incumbent Outside Director under the terms of the Policy as then in effect, and (y) the Value of Annual Awards that could be provided to any incumbent Outside Director under the terms of the Policy as then in effect.

The Company will assess and determine its Peer Group annually based on such factors as the Compensation Committee or the Board, as applicable, deems relevant after discussion with the Compensation Committee’ compensation consultant, and shall consider, among other companies as determined appropriate by the Compensation Committee or the Board, as applicable, for selection as Peer Group companies those companies which are: (a) operating in the same industries as the Company (by reference to Global Industry Classification Standard code or similar reasonable identifiers, which may change from time to time), and (b) similar in size to the Company based on market capitalization (or, during volatile market conditions, revenue, if so determined by the Compensation Committee or the Board, as applicable).
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Notwithstanding anything in the foregoing to the contrary, all determinations related to the foregoing, including but not limited to the determination of the Peer Group, the cash retainers and value of equity award compensation paid by the Peer Group and/or under the Policy to incumbent Outside Directors, the determination of what constitutes the 75th percentile of such amounts, and the date or dates as of which such 75th percentile is to be assessed will be determined in the good faith of the Compensation Committee or the Board after consideration of the advice of the Compensation Committee’s compensation consultant as contemplated above.
5.Additional Provisions
    
All provisions of the Plan and form of award agreement approved for use under the Plan not inconsistent with this Policy will apply to Awards granted to Outside Directors.
6.Section 409A
    
It is the intent of this Policy that this Policy and all payments hereunder be exempt from or otherwise comply with the requirements of Section 409A (as defined below) so that none of the compensation to be provided hereunder will be subject to the additional tax imposed under 409A of the Internal Revenue Code of 1986, as amended, and the final regulations and guidance thereunder, as may be amended from time to time (together, “Section 409A”), and any ambiguities or ambiguous terms herein will be interpreted to be so exempt or comply.  In no event will cash compensation or expense reimbursement payments under this Policy be paid after the later of (i) 15th day of the 3rd month following the end of the Company’s fiscal year in which the compensation is earned or expenses are incurred, as applicable, or (ii) 15th day of the 3rd month following the end of the calendar year in which the compensation is earned or expenses are incurred, as applicable.  As such, all payments under this Policy are intended to fall within the “short-term deferral” exception under Section 409A.  In no event will the Company be obligated to reimburse an Outside Director for any taxes imposed or other costs incurred as a result of Section 409A or otherwise because of the receipt of compensation under this Policy.
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7.Revisions
Except as provided herein, he Board or any committee designated by the Board (a “Designated Committee”), may amend, suspend or terminate this Policy at any time and for any reason.  Unless determined otherwise by the Board, the Compensation Committee is a Designated Committee under this Policy. This includes, that the Board or a Designated Committee in its discretion may at any time change and otherwise revise the terms of the cash compensation granted under this Policy, including, without limitation, the amount of cash and timing of unearned compensation to be paid on or after the date the Board or a Designated Committee, as applicable determines to make any such change or revision.  Any amendment to the terms of any cash compensation granted under the Policy will be effective no earlier than the date such amendment is made. Further, except as provide herein, the Board or a Designated Committee in its discretion may at any time change and otherwise revise the terms of Awards granted under this Policy, including, without limitation, the number of Shares subject thereto, the vesting schedule of Awards, and the type of Awards to be granted on or after the date the Board or a Designated Committee, as applicable, determines to make any such change or revision.  If, on the date of an Award grant under this Policy, an equity incentive plan other than the Plan is the primary equity incentive plan used by the Company, all references to the Plan in this Policy shall, with respect to such Award, be deemed to refer to the Company’s primary equity incentive plan in use at the time of such Award grant, including that references to Section 11 of the Plan shall be deemed to refer to the section(s) of such primary equity incentive plan relating to the per person limits on the number or value of Shares that an Outside Director may receive under such plan during the period specified therein, and references to Section 14 of the Plan shall be deemed to refer to the section(s) of such primary equity incentive plan relating to adjustments to the Shares, dissolution or liquidation or the Company, and/or merger or Change in Control (or similar transactions) of the Company.  

Notwithstanding the foregoing, no amendment, alteration, suspension or termination of this Policy will materially impair the rights of an Outside Director with respect to compensation that already has been paid or awarded, unless otherwise mutually agreed between the Outside Director and the Company.  Further, and notwithstanding the foregoing, until at least the date of the 2025 Annual Meeting, this Policy shall not be amended in a manner inconsistent with the terms of the derivative settlement entered into by the Company on January 13, 2021 and referenced in the Form 8-K dated February 5, 2021.

Termination of this Policy will not affect the Board’s or the Compensation Committee’s ability to exercise the powers granted to it under the Plan with respect to Awards granted under the Plan pursuant to this Policy prior to the date of such termination.   

7q42021ex1018

 

 

 

1 
CROSSFIRST BANKSHARES, INC. 
2018 OMNIBUS EQUITY INCENTIVE PLAN 
PERFORMANCE SHARE AWARD 
AGREEMENT 
Date of Grant: 
________________________________ 
Number of Performance Shares Granted: 
________________________________ 
 
This Performance Share 
Award Agreement (this "Performance Share Award Agreement"), 
is entered into on ___________________________, by and between CrossFirst Bankshares, Inc., 
a Kansas Corporation (the "Company") and _________________ (the "Grantee"). 
RECITALS: 
A. 
Effective October 25, 2018, the Company 
adopted the CrossFirst Bankshares, Inc. 
2018 Omnibus Equity Incentive 
Plan (the "Plan") pursuant to 
which the Company may, from time 
to time, grant Performance Shares to eligible Service Providers of the 
Company and its Affiliates. 
 
B. 
The Grantee is 
a Service Provider 
of the Company 
or one of 
its Affiliates 
and the 
Company desires to grant to the Grantee Performance Shares relating 
to the Company's Shares on 
the terms and conditions reflected in this Performance Share Award Agreement 
and the Plan. 
AGREEMENT: 
 
In 
consideration 
of 
the 
mutual 
covenants 
contained 
herein 
and 
other 
good 
and 
valuable 
consideration, the receipt of which is hereby acknowledged, the parties agree as follows: 
Section 1. 
Incorporation 
of 
the 
Plan.
 
All 
provisions 
of 
this 
Performance 
Share 
Award 
Agreement 
and 
the 
rights 
of 
the 
Grantee 
hereunder 
are 
subject 
in 
all 
respects 
to 
the 
provisions of the Plan, the terms of which are incorporated herein by reference, and 
the powers of 
the 
Committee 
therein 
provided. 
Capitalized 
terms 
used 
in 
this 
Performance 
Share 
Award 
Agreement but not defined herein have the meanings set forth in Plan. 
Section 2. 
Grant of Performance Shares. 

As of the Date of 
Grant identified above, 
the 
Company 
hereby 
grants 
to 
the 
Grantee 
and 
credits 
to 
a 
separate 
account 
maintained 
on 
the 
books of the Company ("Account") that number of Performance Shares identified above opposite 
the heading 
"Number of 
Performance Shares 
Granted" (the 
"Performance Shares"). 
On any 
date 
each Performance 
Share shall 
represent a 
right to 
receive a 
percentage (which 
may be 
less than 
100%, 100%, or more than 100%) of a 
Share, if the applicable terms and conditions 
are satisfied. 

The Grantee's interest in the Account 
shall make the Grantee only a general, 
unsecured creditor of 
the Company. 
Unless otherwise provided 
for in the 
Plan, the Performance 
Shares may not 
be sold, 
transferred, 
gifted, 
bequeathed, 
pledged, 
assigned, 
or 
otherwise 
alienated 
or 
hypothecated, 
voluntarily or 
involuntarily. 
The rights 
of the 
Grantee with 
respect to 
the Performance 
Shares shall 

 

2 
remain forfeitable at all times prior to the date on which such rights are vested (the date on which 
the Grantee's rights with respect to the Performance Shares become nonforfeitable is the "Vesting 
Date"). 
Section 3. 
Vesting and Settlement of 
Performance Shares.
 
The Performance 
Shares 
may 
be 
settled 
by 
delivering 
to 
the 
Grantee 
or 
his 
or 
he
r 
B
eneficiary, 
as 
applicable, 
either, 
as 
determined by the Company in 
its sole discretion, (a) an amount 
of cash equal to the 
Fair Market 
Value 
of 
a 
Share 
as 
of 
the 
Vesting 
Date 
multiplied 
by 
the 
number 
of 
Performance 
Shares 
that 
become 
vested 
on 
the 
Vesting 
Date, 
or 
(b) 
a 
number 
of 
Shares 
equal 
to 
the 
whole 
number 
of 
Performance Shares 
that become 
vested on 
the Vesting 
Date. 
The date 
on which 
the Company 
pays cash or issues Shares 
to the Grantee in connection 
with vesting of a Performance 
Share is the 
settlement date. 
Except as specifically provided 
elsewhere under the Plan, 
the restrictions on Performance 
Shares 
subject to this 
Performance Share Award 
Agreement will 
lapse and the 
Performance Shares 
will 
become vested in accordance with the following performance vesting terms and conditions: 
[Insert Applicable Vesting 
Terms] 
Notwithstanding 
the 
foregoing, 
(a) 
the 
Committee 
may, 
in 
its 
sole 
discretion, 
accelerate 
the 
Vesting 
Date for 
any or 
all of 
the Performance Shares, 
if in 
its judgment 
the performance of 
the 
Grantee 
has 
warranted 
such 
acceleration 
and/or 
such 
acceleration 
is 
in 
the 
best 
interests 
of 
the 
Company, 
provided 
that, 
except 
with 
respect 
to 
Performance 
Shares 
granted 
to 
a 
nonemployee 
Director, the Vesting 
Date may be not accelerated with respect to Performance Shares held by the 
Grantee 
for 
less 
than 
a 
year 
from 
the 
Date 
of 
Grant; 
(b) 
if 
the 
Grantee's 
position 
as 
a 
Service 
Provider with the Company or 
any of its Affiliates 
is terminated by reason 
of the Grantee's death 
or Disability, the Vesting 
Date for all of the Performance 
Shares automatically will be accelerated 
to the 
date of 
the Grantee's 
termination as 
a Service 
Provider and 
such Performance 
Shares will 
vest at the 
Target 
level of performance 
identified above; and 
(c) if the 
Grantee resigns his 
or her 
position as a Service Provider with the Company or any of its Affiliates due to "Retirement" after 
the 
first 
anniversary 
of 
the 
Date 
of 
Grant, 
the 
Grantee 
will 
not 
forfeit 
any 
of 
the 
Performance 
Shares and instead shall vest, on the Vesting Date, in a pro rata portion of the Performance Shares 
to 
which 
the 
Grantee 
would 
have 
been 
entitled 
had 
the 
Grantee 
not 
resigned 
on 
account 
of 
Retirement. 
For purposes of 
this Performance Share 
Award Agreement, the pro rata portion 
of the 
Performance 
Shares 
to 
which 
the 
Grantee 
is 
entitled 
to 
if 
the 
Grantee 
retires 
during 
the 
Performance Period 
after the 
first anniversary 
of the 
Grant Date 
shall be 
determined by 
multiplying 
the number 
of Performance 
Shares 
that 
would have 
vested 
had 
the 
Grantee 
remained a 
Service 
Provider for 
the entire 
Performance Period 
by a 
fraction, the 
numerator of 
which is 
the total 
number 
of 
days 
during 
the 
Performance 
Period 
for 
which 
the 
Grantee 
was 
a 
Service 
Provider 
and 
the 
denominator of 
which is 
the total 
number of 
days in 
the Performance 
Period. 
Furthermore, for 
purposes 
of 
this 
Performance 
Share 
Award 
Agreement, 
"Retirement" 
means 
the 
Grantee 
voluntarily 
resigning 
his 
or 
her 
position 
as 
a 
Service 
Provider 
after 
(i) 
attaining 
age 
55, 
(ii) 
providing 10 
years of 
service to 
the Company 
or its 
Affiliates (for 
purposes of 
this Performance 

 

 

 

3 
Share Award 
Agreement, 
a 
"year of 
service" 
is 
a 
consecutive 365 
day 
period 
during 
which 
the 
Grantee served as a Service Provider), 
and (iii) six months have elapsed from 
the date the Grantee 
provided the General Counsel and Corporate Secretary of the Company, or his or her designee(s), 
with advance written notice of the Grantee's intent to resign due to Retirement. 
Payment of the cash and/or Shares following the Vesting 
Date shall be made by the Company to 
the Grantee within the 60 day period following the Vesting 
Date. 
Section 4. 
Cancellation of 
Performance Shares.
 
Unless otherwise 
provided in 
this 
Section 4 or in the Plan, if, prior to the 
Vesting 
Date, the Grantee's position as a Service Provider 
to the Company 
or any of 
its Affiliates is 
terminated for any 
reason (other than 
the Grantee's death, 
Disability, 
or Retirement) or 
no reason, 
the Grantee 
shall thereupon 
immediately forfeit 
any and 
all unvested Performance Shares, 
all such unvested Performance 
Shares shall be cancelled and 
the 
Grantee 
shall 
have 
no 
further 
rights 
under 
this 
Performance 
Share 
Award 
Agreement. 
For 
purposes of 
this Performance 
Share Award 
Agreement, the 
transfer of 
employment between 
the 
Company and any of its Affiliates (or between 
Affiliates) shall not constitute a termination 
of the 
Grantee's position as a Service Provider. 

Section 5. 
Dividends and 
Voting. 
 
Prior to 
a Performance 
Share's Vesting 
Date, the 
Grantee shall be 
entitled to receive 
Dividend Equivalent payments 
for any dividends 
paid by the 
Company on Shares, whether payable in Stock, in cash or in 
kind, or other distributions, declared 
as of a 
record date that occurs 
on or after 
the Date of Grant 
hereunder and prior 
to any cancellation 
of such Performance Shares, provided 
that any such Dividend 
Equivalent payments shall be held 
in escrow 
by the 
Company and, 
be subject 
to the 
same rights, 
restrictions on 
transfer and 
conditions 
applicable to the underlying Performance Shares. 
In the event of cancellation of any 
or all of the 
Performance Shares, the 
Grantee will forfeit 
all Dividend Equivalent 
payments held in escrow 
and 
relating to the underlying 
cancelled Performance Shares. 
The Grantee will have 
no voting rights 
with respect to any of the Performance Shares. 
Section 6. 
Tax 
Withholding. 

The Grantee shall 
be required to 
pay to the 
Company, 
and 
the 
Company 
shall 
have 
the 
right 
to 
deduct 
from 
any 
compensation 
paid 
to 
the 
Grantee 
pursuant 
to 
the 
Plan, 
the 
amount 
of 
any 
federal, 
state, 
and 
local 
withholding 
obligations 
of 
the 
Company with 
respect to 
the Performance 
Shares. 
The Company 
will not 
deliver Shares 
to the 
Grantee under 
this Performance 
Share Award 
Agreement unless 
the Grantee 
has remitted 
(or in 
appropriate cases 
agrees to 
remit) or 
otherwise provided 
for the 
satisfaction of 
any withholding 
obligation. 
Unless specifically 
denied by 
the Committee, the 
Grantee may 
elect to satisfy 
any such 
withholding obligations by one or a combination of the following methods: 
(a) 
payment of an amount in cash equal to the amount to be withheld; 
(b) 
payment by tendering previously acquired Shares (either actually or 
by attestation) 
valued at the Share's then Fair Market Value 
and equal to the amount to be withheld; 
(c) 
requesting 
that 
the 
Company 
withhold 
from 
the 
Shares 
otherwise 
issuable 
to 
the 
Grantee Shares having a Fair Market Value 
equal to or less than the amount to be withheld; or 
(d) 
withholding from any other compensation otherwise due to the Grantee. 

 

 

4 
To 
the 
extent 
the 
Committee 
permits 
withholding 
through 
either 
the 
payment 
of 
previously 
acquired 
Shares 
or 
withholding 
from 
Shares 
otherwise 
issuable 
to 
the 
Grantee, 
any 
such 
withholding 
shall 
be 
in 
accordance 
with 
any 
rules 
or 
established 
procedures 
for 
election 
by 
Participants, 
including 
any 
rules 
or 
restrictions 
relating 
to 
the 
period 
of 
time 
any 
previously 
acquired 
Shares 
have 
been 
held 
or 
owned, 
including 
any 
elections, 
the 
irrevocability 
of 
any 
election, or 
any special 
rules relating 
to a 
Grantee who 
is an 
officer 
of the 
Company within 
the 
meaning of Section 16 of the 1934 Act. 
Section 7. 
No Right 
to Continue 
as 
a Service 
Provider. 

Neither the 
Plan nor 
this 
Performance Share 
Award 
Agreement confers 
upon 
the Grantee 
any 
right to 
be retained 
in 
any 
position as an Employee, Consultant, or Director of the Company. 
Further, nothing in the Plan or 
this 
Performance 
Share 
Award 
Agreement 
shall 
be 
construed 
to 
limit 
the 
discretion 
of 
the 
Company to terminate the Grantee as a Service Provider at any time, with or without Cause. 

Section 8. 
Restrictive 
Covenants. 

In 
consideration 
for 
the 
granting 
of 
the 
Performance Shares and in addition to any other restrictive agreements that the Grantee 
may have 
entered 
into 
with 
the 
Company 
or 
an 
Affiliate, 
the 
Grantee 
accepts 
and 
agrees 
to 
be 
bound 
as 
follows 
(except 
in 
cases 
in 
which 
the 
following 
covenants 
conflict 
with 
the 
terms 
of 
any 
employment agreement 
between the 
Company or 
an Affiliate 
and the 
Grantee; in 
such cases 
the 
terms of such an employment agreement shall control): 
8.1 
Noncompetition. 

During the time the Grantee is a Service Provider of the 
Company 
or 
an 
Affiliate 
and 
until 
two 
years 
after 
the 
Grantee 
ceases 
to 
be 
a 
Service 
Provider 
of 
the 
Company 
or 
an 
Affiliate, 
the 
Grantee 
will 
not 
contribute 
his 
or 
her 
knowledge, 
directly 
or 
indirectly, 
in 
whole 
or 
in 
part, 
as 
an 
employee, 
officer, 
owner, 
manager, 
advisor, 
consultant, agent, 
partner, 
director, 
shareholder, 
volunteer, 
intern or 
in 
any 
other 
similar 
capacity 
to 
an 
entity 
engaged 
in 
the 
same 
or 
similar 
business 
as 
the 
Company and its Affiliates. 
8.2 
Nonsolicitation 
of 
Company 
Service 
Providers. 

During 
the 
time 
the 
Grantee is a Service Provider of the 
Company or an Affiliate 
and until two years after the 
Grantee ceases to 
be a Service 
Provider of 
the Company 
or an Affiliate, 
the Grantee 
will 
not 
directly 
or 
indirectly, 
solicit, 
hire, 
recruit, 
attempt 
to 
hire 
or 
recruit, 
or 
induce 
the 
termination of employment of any 
other Service Provider of the Company 
or its Affiliates. 
8.3 
Nonsolicitation of Company 
Customers. 

During the time 
the Grantee is 
a Service 
Provider of 
the Company 
or an 
Affiliate 
and until 
two years 
after the 
Grantee 
ceases to 
be a 
Service Provider 
of the 
Company or 
an Affiliate, 
the Grantee 
will not 
directly 
or 
indirectly, 
solicit, 
contact (including, 
but 
not 
limited 
to, 
e-mail, 
regular mail, 
express 
mail, 
telephone, 
fax, 
and 
instant 
message), 
attempt 
to 
contact 
or 
meet 
with 
the 
current, 
former or 
prospective customers 
of the 
Company or 
any of 
its Affiliates 
for purposes 
of 
offering or accepting goods or services similar to or competitive with those offered 
by the 
Company or any of its Affiliates. 
8.4 
No Detrimental Communications.
 
The Grantee agrees not to disclose 
or 
cause to be disclosed at any time any untrue, 
negative, adverse or derogatory comments or 

 

 

5 
information about 
the Company, 
any Affiliate, 
about any 
product or 
service provided 
by 
the Company, or about prospects for the future of the Company. 
8.5 
Confidentiality.
 
The 
Grantee 
acknowledges 
that 
it 
is 
the 
policy 
of 
the 
Company 
to 
maintain 
as 
confidential 
all 
customer 
lists 
and 
information 
relating 
to 
the 
Company's 
customers, 
their 
businesses, 
operations, 
employees 
and 
customers 
("Confidential Information"). 
The Grantee recognizes that the Confidential Information 
is 
the 
sole 
and 
exclusive 
property 
of 
the 
Company, 
and 
that 
disclosure 
of 
Confidential 
Information 
would 
cause 
damage 
to 
the 
Company. 
The 
Grantee 
shall 
not 
at 
any 
time 
disclose or authorize 
the disclosure 
of Confidential Information 
that (a) is 
disclosed to or 
known by 
the Grantee 
as result 
of as 
a consequence 
of or 
through the 
Grantee's performance 
of services for the Company, 
(b) is not publicly or 
generally known outside the Company 
and (c) 
relates in 
any 
manner 
to the 
Company's 
business. 
This obligation 
will 
continue 
even though the Grantee's service to the Company may have terminated. 
This Section 8.5 
shall apply 
in addition 
to, and 
not in 
derogation 
of any 
other 
confidentiality 
agreements 
that may exist, now or in the future, between the Grantee and the Company. 
8.6 
Breach 
of 
Covenants. 
 
In 
the 
event 
of 
a 
breach 
of 
any 
of 
the 
covenants 
contained in 
this Section 
8: (a) 
any unvested 
portion of 
the Performance 
Shares shall 
be 
forfeited effective as 
of the date of 
such breach, unless sooner 
terminated by operation of 
another term or 
condition of this 
Performance Share Award Agreement or 
the Plan; and 
(b) 
the 
Grantee 
hereby 
consents 
and 
agrees 
that 
the 
Company 
shall 
be 
entitled 
to 
seek, 
in 
addition 
to 
other 
available 
remedies, 
a 
temporary 
or 
permanent 
injunction 
or 
other 
equitable 
relief 
against 
such 
breach 
or 
threatened 
breach 
from 
any 
court 
of 
competent 
jurisdiction, without the necessity of showing any 
actual damages or that money damages 
would not 
afford 
an adequate 
remedy, 
and without 
the necessity 
of posting 
any bond 
or 
security. 
The aforementioned 
equitable relief 
shall be 
in addition 
to, not 
in lieu 
of, legal 
remedies, monetary damages or other available forms of relief. 
Section 9.
Compliance with 
Law.
 
The issuance 
and transfer 
of Shares 
shall be 
subject 
to compliance 
by the 
Company 
and the 
Grantee with 
all applicable 
requirements of 
federal and 
state 
securities 
laws 
and 
with 
all 
applicable 
requirements 
of 
any 
stock 
exchange 
on 
which 
the 
Company's Shares 
may be listed. 
No Shares shall 
be issued with 
respect to the 
Performance Shares 
unless and until any then applicable requirements of state 
or federal laws and regulatory agencies 
have been 
fully complied 
with to 
the satisfaction 
of the 
Company 
and its 
counsel. The 
Grantee 
understands that the Company is under no obligation 
to register the Shares with the Securities and 
Exchange 
Commission, 
any 
state 
securities 
commission 
or 
any 
stock 
exchange 
to 
effect 
such 
compliance. 
Section 10. 
Notices.
 
Any 
notice 
required 
to 
be 
delivered 
to 
the 
Company 
under this 
Performance Share 
Award 
Agreement shall 
be in 
writing and 
addressed to 
the General 
Counsel 
and Corporate Secretary of the Company at the 
Company's principal corporate office. 
Any notice 
required to be 
delivered to the 
Grantee under this 
Performance Share Award 
Agreement shall be 
in writing 
and addressed 
to the 
Grantee 
at the 
Grantee's 
address as 
shown 
in the 
records 
of the 
Company. 
Either party may designate another address in writing (or such other method approved 
by the Company) from time to time. 

 

 

 

 

 

 

 

6 
Section 11. 
Governing 
Law. 

This 
Performance 
Share 
Award 
Agreement 
will 
be 
construed and 
interpreted 
in 
accordance with 
the 
laws 
of 
the 
State 
of 
Kansas 
without 
regard to 
conflict of law principles. 
Section 12. 
Adjustments. 

If 
any 
change 
is 
made 
to 
the 
outstanding 
Stock 
or 
capital 
structure of the 
Company, 
if required, the 
Performance Shares 
shall be adjusted 
or terminated in 
any manner as contemplated by the Plan. 
Section 13. 
Amendment.
 
This Performance 
Share Award Agreement may be 
amended 
in 
a 
manner that 
is 
materially 
adverse 
to 
the 
Grantee 
only 
by 
a 
writing 
executed by 
the 
parties 
hereto which specifically states that it is amending this Performance Share Award 
Agreement. 
Section 14. 
Clawback 
Policy. 

The 
Performance 
Shares 
may 
be 
subject 
to 
certain 
provisions of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act of 2010 (“Dodd-
Frank”) or any 
other compensation clawback 
policy that is 
adopted by the 
Committee and that 
will 
require the 
Company to 
be able 
to claw 
back compensation 
paid to 
its executives 
under certain 
circumstances. 
Grantee 
acknowledges 
that 
the 
Performance 
Shares 
may 
be 
clawed 
back 
by 
the 
Company in 
accordance with 
any policies 
and procedures 
adopted by 
the Committee 
in order 
to 
comply with Dodd Frank or as set forth in this Performance Share Award 
Agreement.
 
Section 15. 
Interpretation. 

Any 
dispute 
regarding 
the 
interpretation 
of 
this 
Performance Share 
Award 
Agreement shall 
be submitted 
by the 
Grantee or 
the Company 
to the 
Committee for review. 
The resolution of 
such dispute by 
the Committee shall 
be final and 
binding 
on the Grantee and the Company. 
Section 16. 
Titles. 

Titles are provided herein for convenience only and 
are not to serve 
as a basis for interpretation or construction of this Performance Share Award Agreement. 
Section 17. 
Section 
409A 
Compliance. 
 
It 
is 
the 
intent 
of 
the 
Company 
that 
all 
payments 
made 
under 
this 
Performance 
Share 
Award 
Agreement 
will 
be 
exempt 
from 
Section 
409A of the Code and the Treasury 
regulations and guidance issued thereunder ("Section 409A") 
pursuant to the 
“short-term deferral” 
exemption. 
Notwithstanding any provision 
of the Plan 
or 
this 
Performance 
Share 
Award 
Agreement 
to 
the 
contrary, 
(i) 
this 
Performance 
Share 
Award 
Agreement shall not be amended in any manner that would cause any amounts payable hereunder 
that are not subject to Section 409A to become subject thereto (unless 
they also are in compliance 
therewith), and 
the provisions 
of any 
purported amendment 
that may 
reasonably be 
expected to 
result in such non-compliance 
shall be of no force 
or effect with respect to 
this Performance Share 
Award 
Agreement and (ii) 
the Company, 
to the extent it 
deems necessary or advisable 
in its sole 
discretion, 
reserves 
the 
right, 
but 
shall 
not 
be 
required, 
to 
unilaterally 
amend 
or 
modify 
this 
Performance Share Award Agreement to reflect the intention that the 
Plan qualifies for exemption 
from or 
complies with 
Section 409A 
in a 
manner that 
as closely 
as practicable 
achieves the 
original 
intent of this Performance Share Award Agreement 
and with the least reduction, if any, in overall 
benefit 
to 
a 
Grantee 
to 
comply 
with 
Section 
409A on 
a 
timely 
basis, 
which may 
be 
made 
on 
a 
retroactive basis, 
in accordance 
with regulations 
and other 
guidance issued 
under Section 
409A. 

Neither the 
Company nor 
the Committee 
makes any 
representation that 
this Performance 
Share 
Award Agreement 
shall be exempt from or comply with Section 409A and makes no undertaking 
to preclude Section 409A from applying to this Performance Share Award 
Agreement.

 

 

 

 

 

 

7 
Section 18. 
Successors and Assigns. 

The Company may assign any of its rights under 
this 
Performance 
Share 
Award 
Agreement. 
This 
Performance 
Share 
Award 
Agreement 
will 
be 
binding upon and inure 
to the benefit of 
the successors and assigns 
of the Company. Subject to the 
restrictions on transfer set forth herein, this Performance Share Award Agreement will be binding 
upon the 
Grantee and 
the Grantee's 
beneficiaries, executors, 
administrators and 
the person(s) 
to 
whom the Performance Shares may be transferred by will or the laws of descent or distribution. 
Section 19. 
Severability. 

The 
invalidity 
or 
unenforceability 
of 
any 
provision 
of 
the 
Plan or this Performance Share Award Agreement shall not affect the validity or enforceability of 
any other provision of the 
Plan or this Performance Share 
Award 
Agreement, and each provision 
of the 
Plan and 
this Performance 
Share Award 
Agreement shall 
be severable 
and enforceable 
to 
the extent permitted by law. 
Section 20. 
No 
Impact 
on 
Other 
Benefits.
 
The 
value 
of 
the 
Grantee's 
Performance 
Shares is not 
part of his 
or her normal 
or expected compensation 
for purposes of 
calculating any 
severance, retirement, welfare, insurance or similar employee benefit. 
Section 21.
Counterparts.
 
This 
Performance 
Share 
Award 
Agreement 
may 
be 
executed in counterparts, each of which shall be deemed an original but all of which together will 
constitute 
one 
and 
the 
same 
instrument. 
Counterpart 
signature 
pages 
to 
this 
Performance Share 
Award Agreement transmitted by facsimile transmission, by electronic mail in portable document 
format 
(.pdf), 
or 
by 
any 
other 
electronic 
means 
intended 
to 
preserve 
the 
original 
graphic 
and 
pictorial appearance 
of 
a 
document, will 
have 
the 
same effect 
as physical 
delivery of 
the 
paper 
document bearing an original signature. 
Section 22. 
Acceptance.
 
The 
Grantee 
hereby 
acknowledges 
receipt 
of 
a 
copy 
of 
the 
Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, 
and accepts the Performance Shares subject to all of 
the terms and conditions of the Plan and this 
Performance Share Award 
Agreement. 

 
Section 23. 
Entire 
Agreement and 
Binding Effect. 

This Performance 
Share Award 
Agreement and the Plan constitute 
the entire contract between 
the parties hereto with regard 
to the 
subject matter 
hereof. 
They supersede 
any other 
agreements, representations 
or understandings 
(whether oral 
or written 
and whether 
express or 
implied) that 
relate to 
the subject 
matter hereof. 

Except as expressly 
stated herein to 
the contrary, 
this Performance Share 
Award 
Agreement will 
be binding upon 
and inure to 
the benefit of 
the respective heirs, 
legal representatives, successors 
and assigns of the parties hereto. 
[Signature Page Follows] 
 

8 
The parties to this 
Performance Share Award 
Agreement have executed this 
Performance 
Share Award 
Agreement as of the date provided in the preamble to this agreement. 
CROSSFIRST BANKSHARES, INC. 
By: _____________________ 
Name:___________________ 
Title:____________________ 
[GRANTEE NAME] 
By: _____________________ 
Name:___________________

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