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                                  EXHIBIT 10.9

                               ENTERPRISE BANKING

                       KEY EXECUTIVE EMPLOYMENT AGREEMENT

        THIS AGREEMENT is made as of October 16, 2002, between ENTERPRISE
FINANCIAL SERVICES CORP, a Delaware Company, its subsidiaries, affiliates,
successors and assigns (the "Company"), and PAUL VOGEL (the "Executive").

        A.      The Company is engaged in providing of financial products and
services including banking, trust services, financial consulting, merchant
banking activities and related products and services to persons and corporations
(the "Business").

        B.      The Company wishes to employ or continue to employee the
Executive in connection with the conduct of the Business, and the Executive is
willing to accept such employment or continued employment, on the terms and
conditions set out in this Agreement.

        C.      In such position, the Executive will have substantial customer
contacts, will perform special and unique duties and services for the Company,
and will acquire confidential information concerning the customers, business
operations, and trade secrets of the Company (as further defined in this
Agreement). The success of the Business requires maintaining strict secrecy with
respect to the Confidential Information of the Company.

        D.      The parties to this Agreement agree that substantial and
irreparable loss and damage will be suffered by the Company in the event of a
breach of this Agreement by the Executive.

                                    AGREEMENT

        NOW, THEREFORE, in consideration of the promises and mutual
representations and covenants contained herein and other good and valuable
consideration received by the Executive, the parties agree as follows:

        1.      Compensation. In full consideration for the Executive's services
and subject to the due performance thereof, the Executive shall be entitled to
compensation as agreed to by the parties, which may be changed from time to time
by written agreement of the parties, provided that, in such event, all of the
other terms and conditions of this Agreement shall remain in full force and
effect.

        2.      Benefits. The Executive will be permitted to participate in such
pension, profit sharing, bonus, life insurance, hospitalization, major medical,
and other employee benefit plans of the Company that may be in effect from time
to time, to the extent the Executive is eligible under the terms of those plans.

        3.      Duties. The Executive is engaged to perform such executive and
managerial duties as may be delegated to Executive from time to time by or under
the authority of the Company's Board of Directors, President or other
appropriate officers. The Executive shall devote all of Executive's business
time and attention to the performance of such duties which are in the area of
the Business as defined above, subject to the direction and control of the
Company. The Executive shall comply with all oral and written rules, regulations
and policies of the Company.

        4.      Termination of Employment.

                a.      Death, Disability and For Cause Terminations

                        i.      Death. The Agreement shall terminate immediately
                upon the Executive's death, provided that in such event the
                Company shall cause Executive's salary to be paid to the
                Executive's estate for the period through the earlier of (1) the
                end of the current payroll period or (2) the end of the calendar
                month in which the Executive's death occurs.

                        ii.     Disability. Company may, upon thirty (30) days'
                prior written notice, terminate this Agreement in the event the
                Executive, by reason of physical or mental disability, shall be

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                unable to perform the services required of the Executive
                hereunder. In the event of disagreement concerning the existence
                of any such disability, the matter shall be resolved by a
                disinterested licensed medical doctor chosen by written
                agreement of the Company and the Executive. If the Company and
                the Executive cannot agree on a selection of a medical doctor,
                each of them will select a medical doctor, and the two medical
                doctors will select a third medical doctor who will determine
                whether the Executive has a disability. The existence of such a
                disability shall be conclusively presumed in the event either
                (a) the Executive is entitled to payment of benefits under any
                disability insurance policy or program carried by the Company or
                (b) the Executive is unable to perform his or her duties for a
                total of 60 or more calendar days (whether or not consecutive)
                during any period of one hundred eighty (180) consecutive
                calendar days, whether as a result of one or more illnesses or
                ailments. In the event of any such termination, the Company
                shall cause the Executive's salary to be paid to the Executive
                for the period through the date of termination.

                        iii.    For Cause. The Company may terminate the
                Executive's employment for Cause. For this purpose, "cause"
                shall include, without limitation, (i) Executive's
                insubordination, meaning the willful failure to conform to or
                conduct himself or herself in accordance with the policies and
                standards of Company (unless deviation from said written policy
                is considered a "known normal business practice") or the refusal
                to perform the duties assigned pursuant to Section 3; (ii) the
                dishonesty of Executive; (iii) Executive's commission of a
                felony, fraud, embezzlement or any other act of moral turpitude;
                (iv) any willful violation by Executive of laws or regulations
                applicable to Company's business; (v) Executive's gross
                negligence or willful misconduct in the performance of
                Executive's duties under this Agreement which could adversely
                affect the business or reputation of Company. If the Executive's
                employment is terminated for Cause, the Company shall pay the
                Executive his full accrued Base Salary through the effective
                date of the termination of his employment (which shall be no
                earlier than the date of Executive's receipt of notice thereof)
                at the rate in effect at the time of such termination.

                        iv.     If the Executive's employment is terminated for
                the reason provided above in 4(a)i-iii, Executive shall be
                entitled to receive any salary or other compensation to which
                the Executive is entitled which accrues through the date of
                termination. Unless otherwise specifically agreed to by the
                Company in this Agreement, any bonus or other compensation or
                benefits applicable to the Executive shall be deemed to have
                accrued only in the event that the entire period to which the
                bonus applies has elapsed prior to the date of termination.

                b.      All Other Employment Terminations

                        i.      Change of Control. If following a Change of
                Control, Executive's employment terminates and Executive is not
                offered a new position comparable to his position, at the same
                or greater base salary and located within sixty (60) minute
                normal commuting distance from the Executive's office
                immediately prior to Charge of Control, the Company shall pay
                Executive as provided below in 4(b)iv.

                        ii.     Resignation or Retirement. If Executive
                voluntarily resigns his employment or retires and Executive
                agrees to any extension or postponement of his resignation or
                retirement if requested by the Company at his normal rate of
                compensation for a period not to exceed three (3) months, he
                shall be entitled to the payment as provided below in 4(b)iv.

                        iv.     Involuntary Termination Without Cause. If the
                Company terminates Executive's employment other than as provided
                for in Section 4a(i) through 4a(iii) of this Agreement,
                Executive shall be entitled to the payment provision below in
                4(b)iv.

                        iv.     If Executive's employment is terminated as
                provided for in 4(b)i-iii above, he shall be entitled to 24
                months severance pay, to be paid in accordance with the
                Company's standard payroll procedures over a 24 month period.
                Executive will be paid severance pay as determined by his total
                compensation which consists of: (1) his base salary in effect as
                of the end of the most recent quarter prior to termination, (2)
                the last twelve months production commissions (including all
                commissions less first year commissions from the sale of life
                insurance), (3) the average of the last two year's first year
                insurance commissions and (4) the last twelve months average
                management override/specialist override.

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        c.      Immediately upon the effective date of any termination, except
                as otherwise provided in this Section 4b and as provided below
                in this Agreement, all obligations of the Company, including the
                obligation of the Company to pay any compensation or other
                benefits to the Executive accruing after the date of such
                termination, shall cease.

        5.      Company Documents. Any and all documents in any way related to
the Company and/or its customers or prospective customers shall be and remain
the sole and exclusive property of the Company and are subject to immediate
recall at any time by the Company. Document is used in the broadest sense and
includes, but is not limited to meaning, any writing or recording, graphic or
other matter, whether produced, reproduced or stored on paper, cards, tapes,
discs, belts, charts, film, computer storage devices, or any other medium
including, but not limited to, matter in the form of books, manuals, pamphlets,
resolutions, plans, proposals, minutes of meetings, conferences and telephone or
other communications, reports, studies, statements, notebooks, applications,
original agreements, appointment calendars, working papers, charts, graphs,
diagrams, contracts, memoranda, notes, records, correspondence, original
diaries, bookkeeping entries, regulations, or any published material and also
includes, but is not limited to, originals (unless otherwise stated), copies
(with or without notes or changes thereon), and drafts. Upon recall of the
documents or upon termination of the Executive's employment (whether such
termination is initiated by the Executive or the Company and regardless of the
reason for such termination, whether or not such reason constitutes good cause),
the Executive shall deliver such documents to the Company within seventy-two
(72) hours. The Executive shall also provide the Company within seventy-two (72)
hours with a written guarantee that states that all of the Company's documents
have been returned to the Company pursuant to this Section.

        6.      Non-disclosure of Information. Executive will not, except as
authorized by Company in writing or as required by any law, rule or regulation
after providing prior written notice to Company within sufficient time for
Company to object to production or disclosure or quash subpoenas related to
same, during or at any time after the termination of Executive's employment with
Company, directly or indirectly, use for Executives benefit or for the benefit
of others, or disclose, communicate, divulge, furnish to, or convey to any other
person, firm, or Company, any secret or confidential information, knowledge or
data of Company or that of third parties obtained by Executive during the period
of Executive's employment with Company, and such information, knowledge or data
includes, without limitation, the following:

            .   Secret or confidential matters of a technical nature such as,
                but not limited to, methods, know-how, formulations,
                compositions, processes, computer programs, and similar items or
                research projects involving such items,

            .   Secret or confidential matters of a business nature such as, but
                not limited to, marketing policies or strategies, information
                about costs, price lists, purchasing and purchasing policies,
                profits, marketing, sales or lists of customers, customer
                history information, and

            .   Secret or confidential matters pertaining to future developments
                such as, but not limited to, research and development or future
                marketing or merchandising.

        7.      Subsequent Employment: Executive must personally notify Company
in writing regarding the details of any new employment within seventy-two (72)
hours of accepting an offer of employment. Company may notify any person, firm,
or company employing Executive or potentially employing Executive as to the
existence and provisions of this Agreement.

        8.      Non-Competition:

                a.      Executive recognizes that during the course of
        Executive's employment with Company, Executive has been and will be
        instructed by Company about and become acquainted with and shall gain
        knowledge of confidential information of Company, including, but not
        limited to confidential information about customer and prospective lists
        and proposals, methods of sales, the existence and contents and terms of
        this Agreement, methods of sales procurement, sales procurement
        techniques, sales procedures and equipment/supply information, supply
        acquisition procedures and processes and sources, customer acquisition
        and evaluation procedures, customer maintenance procedures and
        corresponding information relating to persons, firms and corporations
        which are or may become customers of Company by virtue of Executive's
        employment by the Company, Executive will have access to the Customer
        Lists and will be directly involved in developing such lists and
        maintaining customer relationships and, further, companies from which
        Company obtains various products for sale, resale and distribution to
        customers of Company specific and unique knowledge of the persons,
        firms, Company, and other entities that purchase or use

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        products sold by the Company or have purchased products sold by the
        Company. Further, Executive agrees and acknowledges that the development
        and assemblage and maintenance of the customer lists, information,
        documents, and business of Company has taken extraordinary time, money,
        resources, training, and effort by Company and its employees and
        accordingly, Executive agrees that Executive will not during Executive's
        period of employment with Company and for a period of two (2) years
        following cessation of Executive's employment at Company for any cause
        or reason ("restricted period"), directly or indirectly, engage in any
        business in competition with Company with respect to the sale of,
        maintenance of, billing and processing of, services and products in the
        markets and supplies and sale for and/or to present customers, former
        customers (defined as any person or Company who was a customer during
        the two (2) years prior to the cessation of Executive's employment) and
        prospects of Company. Executive agrees that during Executive's period of
        employment with Company and for the two (2) year restricted period
        following cessation of Executive's employment with Company, Executive
        shall not induce or attempt to induce any present, former, or
        prospective customer (defined as any company or person that has been or
        is in the loan approval process or to whom the company has made a
        presentation for deposit within the last two (2) years) of Company to
        become a customer of Executive at any person, firm, or Company, or
        business association with which Executive is or becomes affiliated in
        any capacity with respect to the business which Company is engaged in
        currently and/or during the period of employment.

                b.      The Executive shall not at any time during the term of
        his or her employment by the Company and for a period of two (2) years
        following the termination thereof (whether such termination is initiated
        by the Executive or the Company and regardless of the reason for such
        termination, whether or not such reason constitutes good cause),
        directly or indirectly, induce or attempt to induce any employee of the
        Company or of any of its subsidiaries or affiliates to cease employment
        with the Company or its subsidiaries or affiliates, as the case may be,
        or to seek employment elsewhere.

                c.      The Company and the Executive acknowledge their
        understanding that the laws and public policies of the various states of
        the United States may differ as to the validity and enforceability of
        the covenants contained in this Section and hereby acknowledge their
        understanding and intention both that the provisions of this Section
        shall be enforced to the fullest extent permissible and the
        unenforceability of or modification necessary to conform with such laws
        and public policies shall not render unenforceable any other provision
        hereof. Accordingly, to the extent that any covenant in this Section
        shall be adjudicated to be invalid or unenforceable, such covenant (or
        portion thereof) shall automatically be amended to such extent as may
        grant the Company the maximum protection and restriction on Executive's
        activities permitted by applicable law. The invalidity or
        unenforceability of any particular provision of this Agreement shall not
        affect the other provisions hereof and this Agreement shall be construed
        in all respects as if any invalid or unenforceable provision were
        omitted.

                d.      The two (2) year time periods described in this Section
        shall begin on the date of termination of the Executive's employment
        with the Company.

        9.      Non-Disparagement: The Executive further agrees that, during the
term of employment by the Company and thereafter (whether such termination is
initiated by the Executive or the Company and regardless of the reason for such
termination, whether or not such reason constitutes good cause), Executive will
not, directly or indirectly, in any individual or representative capacity
whatsoever, make any statement, oral or written, or perform any other act or
omission which is or is likely to be materially detrimental to the goodwill of
the Company or any of its subsidiaries or affiliates. However, Executive may
provide truthful responses to inquiries regarding objectively verifiable
information.

        10.     Remedies. The Executive recognizes that the Company has a valid,
protectable right and business interest in preserving the information and
relationships described in this Agreement and that each covenant and agreement
of the Executive contained in such Sections is a material and essential
precondition to the Company's agreement to employ the Executive under the terms
set forth in this Agreement. The parties further agree that the services to be
rendered by the Executive are of a special, unique, and extraordinary character
and the Executive hereby acknowledges that: (i) the covenants and agreements
contained herein are reasonable and necessary in order to protect the legitimate
business interests of the Company; (ii) the enforcement of such covenants would
not unreasonably impair the Executive's ability to earn a livelihood; and (iii)
any breach or violation thereof would result in irreparable injury and harm to
the Company and its affiliates and subsidiaries, for which the Company would be
without adequate legal remedy as long as the company escrows the disputed
termination pay as it becomes due with Southwest Bank or other mutually
agreeable escrow agent.

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        The Executive, therefore, acknowledges and agrees that, in the event of
any violation or breach of this Agreement, whether threatened or actual, the
Company shall be authorized and entitled to obtain, any and all injunctive
relief and/or restraining orders available to it so as to prohibit, bar, and
restrain any and all such breaches by the Executive. Any such equitable remedies
or relief available to the Company shall be cumulative and in addition to
whatever other remedies the Company may have, including without limitation
recovery of damages and attorneys' fees. The Executive waives any requirement
that the Company post bond of any sort in connection with any action taken by
the Company hereunder.

        11.     Prior Employment. The Executive expressly confirms that the
duties to be performed in connection with employment by the Company will not
violate any contractual or other restrictions applicable to the Executive,
including any restrictions contained in any employment agreement between the
Executive and any prior employer. The Executive will fully indemnify and hold
the Company harmless from and against any and all liability, cost or expense
(including attorney's fees) which the Company may suffer as a result of a breach
by the Executive of this Section or of any agreement with any prior employer.

        12.     Definitions.

                a.      "Subsidiary" shall mean any Company owned or controlled
        by the Company, directly or indirectly, through stock ownership, and
        shall include (but not be limited to) each Company a majority of the
        voting stock of which is owned by the Company or any such other
        majority-owned subsidiary (or a chain thereof) of the Company.

                b.      "Affiliate" shall mean any Company or other entity
        controlling, controlled by or under common control with the Company,
        directly or indirectly, through stock ownership or otherwise.

                c.      "Successors and assigns" shall mean any person, Company
        or other entity which succeeds to purchase, acquire or accept
        assignments of all or substantially all of the assets or outstanding
        stock of the Company, whether by agreement or operation of law.

                d.      A "Change of Control" shall mean an event or act or
        combination thereof the direct or indirect result of which is that (a)
        the individuals who constitute the Board of Directors 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, or nomination for
        election by the Company's shareholders, was approved by a vote of at
        least three-quarters of the directors comprising the Incumbent Board
        (either by a specific vote or by approval of the proxy statement of the
        Company in which such person is named as a nominee for director, without
        objection to such nomination) shall be, for purposes of this clause
        considered as though such a person were a member of the Incumbent Board,
        or (b) the incumbent stockholders of the Company approve or ratify a
        reorganization, merger or consolidation and, immediately thereafter, the
        incumbent stockholders do not own, directly or indirectly, more than 50%
        of the combined voting power entitled to consolidated company's then
        outstanding voting securities, or a liquidation or dissolution of the
        Company or of the sale of all or substantially all of the assets of the
        Company. For purposes of this Agreement, the term "Person" shall mean
        and include any individual, Company, partnership, group, association or
        other "person," other than the Company, a subsidiary of the Company or
        any employee benefit plan(s) sponsored or maintained by the Company or
        any subsidiary thereof.

        13.     Non-Waiver of Rights. The failure to enforce at any time any of
the provisions of this Agreement or to require at any time performance by the
other party of any of the provisions hereof shall in no way be construed to be a
waiver of such provisions or to affect either the validity of this Agreement, or
any part hereof, or the right of either party thereafter to enforce each and
every provision in accordance with the terms of this Agreement.

        14.     Invalidity of Provisions. The invalidity or unenforceability of
any particular provisions of this Agreement shall not affect the other
provisions hereof, and this Agreement shall be construed in all respects as if
such invalid or unenforceable provisions were omitted.

        15.     Assignments.

                a.      This Agreement and the Company's rights and obligations
        hereunder shall be freely assignable by the Company to, and shall inure
        to the benefit of, and be binding upon any other corporate entity which
        shall succeed to all or part the Business conducted by the Company.

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                b.      As this Agreement is a contract for personal services,
        neither this Agreement nor any of the Executive's rights and obligations
        hereunder shall be assignable by the Executive.

        16.     Governing Law. This Agreement shall be interpreted in accordance
with and governed by the laws of the State of Missouri.

        17.     Jurisdiction. The Company and the Executive hereby agree to
submit any suit, action, or proceeding arising out of or relating to this
Agreement to the jurisdiction of the Circuit Court St. Louis County, Missouri or
the United States District Court for the Eastern District of Missouri. The
Company and the Executive further agree that all claims with respect to such
suit, action or proceeding may be heard and determined in any of such courts.
The Company and the Executive waive, to the fullest extent permitted by law, any
objection regarding the venue of such suit, action or proceeding in any court
aforementioned, including proceedings for enforcement of any court order and the
Company and the Executive further waive any claim that such suit, action or
proceeding brought in any such court has been brought in an inconvenient forum.
The Company and the Executive hereby expressly waive all rights of any other
jurisdiction which either of them may now or hereafter have by reason of their
present or subsequent domiciles.

        18.     Notices. Any notice given by either party hereunder shall be in
writing and shall be personally delivered, telexed, or wired, or mailed
(certified or registered mail, postage prepaid), as follows:

                To the Company:      Enterprise Financial Services Corp
                                     150 North Meramec
                                     Clayton, MO 63105-3753

                To the Executive: At his or her address set forth on the payroll
                                  records of the Company

or to such other address as may have been furnished to the other party by
written notice.

        19.     Counterparts. This Agreement may be executed in one or more
identical counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same agreement.

        20.     Attorneys' Fees. In the event of violations or alleged
violations of this Agreement, the prevailing party to any resulting action or
claim shall be entitled to all expenses and costs incurred in protecting or
enforcing its rights hereunder, including but not limited to reasonable
attorney's fees and expenses.

        21.     Entire Agreement. This agreement contains the entire agreement
of the parties in this matter. No modification, amendment or waiver of any of
the provisions of this Agreement shall be effective unless in writing
specifically referring hereto, and signed by both parties.

        IN WITNESS WHEREOF, the Executive and the Company have executed this
Agreement as of the day and year above written.

                                              ENTERPRISE FINANCIAL SERVICES CORP

Dated                               By
      ----------------------          ------------------------------------

                                              Its
                                                  ------------------------------

Dated
      ----------------------          ------------------------------------------
                                              Paul Vogel

                                              ----------------------------
                                              Witness

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                                  EXHIBIT 10.10

                       ENTERPRISE FINANCIAL SERVICES CORP.
                         EXECUTIVE EMPLOYMENT AGREEMENT

        THIS AGREEMENT, is made by and between PETER F. BENOIST (the
"Executive") and ENTERPRISE FINANCIAL SERVICES CORP, a Delaware corporation (the
"Company"), effective as of October 1, 2002 (the "Effective Date").

        WITNESSETH:

        WHEREAS, Executive desires to be employed by the Company, and the
Company desires to employ Executive, on the terms, covenants and conditions
hereinafter set forth in this Agreement.

        NOW, THEREFORE, for the reasons set forth above, and in consideration of
the mutual promises and agreements herein set forth, the Company and Executive
agree as follows:

        1. Employment. Subject to the terms and conditions set forth in this
Agreement, the Company hereby employs Executive for the Contract Term as
hereafter defined. During the Contract Term, Executive shall serve as Executive
Vice President of the Company, and the Chairman and Chief Executive Officer of
the Company's subsidiary, Enterprise Bank, and shall have such duties and
responsibilities as are customarily assigned to individuals serving in such
positions and such other duties as the Board of Directors (the "Board") may from
time to time specify consistent with such corporate offices and positions.
Executive shall comply with all polices and procedures of the Company generally
applicable to executive employees of the Company and to the extent consistent
with the provisions of this Agreement. The duties and responsibilities Executive
is to perform hereunder shall be conducted primarily from the St. Louis,
Missouri metropolitan area where the principal offices of the Company are
located. Executive may be required from time to time to perform his duties
hereunder on an occasional basis at such other places as the Board shall
designate or as the interests or business opportunities of the Company may
require; provided, however, that without Executive's consent, the Executive
shall not be required to relocate his residence from the St. Louis, Missouri
metropolitan area. Executive hereby accepts such employment and agrees to serve
the Company in such capacities for the term of this Agreement.

        2. Term of Employment. Except as otherwise provided herein, the term of
this Agreement shall be for term commencing on the Effective Date and ending on
December 31, 2005 (the "Contract Term"). The Contract Term may be extended by
mutual written agreement of Executive and the Company upon such terms,
provisions and conditions which are mutually acceptable to Executive and the
Company. Notwithstanding any expiration of this Agreement at the end of the
Contract Term, to the extent that Executive remains an employee of the Company
thereafter, unless the parties otherwise agree in writing, (i) the obligations
of the Company under sections 4, 6 and 11 of this Agreement shall remain
applicable and (ii) the obligations of Executive under sections 7, 8 and 9 of
this Agreement shall remain

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applicable. The term during which Executive is an employee of the Company,
including any period of employment following the Contract Term, is referred to
as the "Employment Term."

        3. Devotion to Duties. Executive agrees that during the Employment Term
he will devote all of his skill, knowledge, commercial efforts and working time
to the conscientious and faithful performance of his duties and responsibilities
to the Company (except for (i) permitted vacation time and absence for sickness
or similar disability and (ii) to the extent that it does not interfere with the
performance of Executive's duties hereunder: (A) such reasonable time as may be
devoted to the fulfillment of Executive's civic and charitable activities and
(B) such reasonable time as may be necessary from time to time for personal
financial matters). Executive will use his best good faith efforts to promote
the success of the Company's business and will cooperate fully with the Board in
the advancement of the best interests of the Company. Executive will agree to
serve as a director of the Company, or as a director or officer of any of its
Subsidiaries or Affiliates, without additional compensation.

        4. Compensation of Executive.

                4.1 Base Salary. During the Employment Term, the Company shall
        pay to the Executive as compensation for the services to be performed by
        the Executive a base salary of $250,000 per year (the "Base Salary").
        The Base Salary shall be payable in installments in accordance with the
        Company's normal payroll practice and shall be subject to such
        withholdings and other ordinary employee withholdings as may be required
        by law. The Base Salary may be adjusted from time to time in the sole
        discretion of the Board, but shall not be reduced without the consent of
        Executive.

                4.2 Targeted Bonus. In addition to the compensation set forth
        elsewhere in this Section 4, for calendar year 2003 and each calendar
        year thereafter during the Employment Term and any extensions thereof,
        the Executive shall qualify for a targeted annualized bonus ("Targeted
        Bonus") based upon meeting established targeted goals such that with his
        Base Salary and Targeted Bonus Executive will have the opportunity to
        earn at least $500,000 per year. No later than the Company's January
        Board meeting, the Company and Executive shall agree upon certain
        targeted financial and operating goals ("Targets") for that calendar
        year. The established Targets shall be consistent with the financial
        plan for the Company as adopted by the Company's Board. Within 75 days
        after the end of each calendar year, the Company's Chief Executive
        Officer in collaboration with the Board (or a committee of the Board to
        which the Board has delegated such authority) shall make a good faith
        determination as to the extent to which the Targets have been met for
        the preceding calendar year. If the Targets have been met, then
        Executive shall receive a Targeted Bonus for such preceding year up to a
        maximum of $250,000 for calendar 2003 and in subsequent years such
        amounts as the Company's Chief Executive Officer in collaboration with
        the Board may determine, subject to the aforementioned condition that
        the sum of annual base compensation plus Targeted Bonus for the year is
        at least $500,000. In the event that the established Targets are
        exceeded, then Executive shall be entitled to receive additional bonus
        amounts above the Targeted Bonus pursuant to the previously determined
        formula applicable to that year. If the Company's Chief Executive
        Officer in collaboration with the Board (or such committee of the Board)
        determines that the Targets have not been fully met, but minimum
        thresholds as may be established by the Company's Chief Executive
        Officer in collaboration with the Board (or such committee) have been
        met, the Company's Chief Executive Officer in collaboration with the
        Board (or such committee) shall make a good faith determination as to
        the extent that the Targets have been met and determine the amount of
        such Targeted Bonus to be awarded to the Executive based proportionately
        upon the extent to which the Targets are determined to have been met.
        Executive shall also be eligible to receive such other bonuses or
        incentive payments as may be approved by the Board of Directors.

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                4.3 Benefits. Executive shall be entitled to participate, during
        the Employment Term, in all regular employee benefit and deferred
        compensation plans established by each of Enterprise Bank (to the extent
        such participation is not restricted by the Internal Revenue Code of
        1986 (the "Code")) and the Company, including, without limitation, any
        savings and profit sharing plan, incentive stock plan, dental and
        medical plans, life insurance and disability insurance, such
        participation to be as provided in said employee benefit plans in
        accordance with the terms and conditions thereof as in effect from time
        to time and subject to any applicable waiting period. Executive shall
        also be entitled to four weeks of paid vacation during each year of the
        Employment Term, provided that any vacation not used in any year shall
        be forfeited and not carried over to any subsequent year.

                4.4 Office and Secretary. Executive will have a private office,
        secretarial assistance, administrative support, and such other
        facilities and services as the Company deems necessary or appropriate
        for the performance of the Executive's duties under this Agreement.

                4.5 Reimbursement of Expenses. The Company will provide for the
        payment or reimbursement of all reasonable and necessary expenses
        incurred by the Executive in connection with the performance of his
        duties under this Agreement in accordance with the Company's expense
        reimbursement policy, as such may change from time to time. Without
        limiting the foregoing, the Company further agrees during the Employment
        Term (i) to reimburse Executive for monthly automobile expense by means
        of a $500 per month automobile allowance; and (ii) to reimburse
        Executive for dues and assessments in respect of club memberships
        maintained by Executive up to a maximum of $7,500 per year.

                4.6 Stock Options and Long-Term Incentives. Effective as of the
        Effective Date, Executive was granted ten-year non-qualified options to
        acquire _____ shares of the common stock of the Company at a per-share
        exercise price of $_____ pursuant to the terms of the Company's 2002
        Stock Incentive Plan. Such options shall vest and become exercisable at
        the rate of _______ shares on October 1 of each of 2003, 2004 and 2005,
        provided that Executive remains continuously employed by the Company
        through such dates.

        5. Termination of Employment.

                5.1 Termination for Cause. "Termination for Cause", as
        hereinafter defined, may be effected by the Company at any time during
        the term of this Agreement by written notification to Executive,
        specifying in detail the basis for the Termination for Cause. Upon
        Termination for Cause, Executive shall immediately be paid all accrued
        salary, bonus compensation to the extent earned, vested deferred
        compensation, if any, (other than pension plan or profit sharing plan
        benefits which will be paid in accordance with the terms of the
        applicable plan), any benefits under any plans of the Company in which
        the Executive is a participant to the full extent of the Executive's
        rights under such plans, accrued vacation pay for the year in which
        termination occurs, and any appropriate business expenses incurred by
        Executive reimbursable by the Company in connection with his duties
        hereunder, all to the date of termination, but Executive shall not be
        paid any other compensation or reimbursement of any kind, including
        without limitation, severance compensation. "Termination for Cause"
        shall mean termination by the Company of Executive's employment by the
        Company by reason of (a) an order of any federal or state regulatory
        authority having jurisdiction over the Company, (b) the willful failure
        of Executive substantially to perform his duties hereunder (other than
        any such failure due to Executive's physical or mental illness); (c) a
        willful breach by Executive of any material provision of this Agreement
        or of any other written agreement with the Company or any of its
        Affiliates; (d) Executive's commission of a crime that constitutes a
        felony or other crime of moral

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        turpitude or criminal fraud; or (e) chemical or alcohol dependency which
        materially and adversely affects Executive's performance of his duties
        under this Agreement; (f) any act of disloyalty or breach of
        responsibilities to the Company by the Executive which is intended by
        the Executive to cause material harm to the Company; (e)
        misappropriation (or attempted misappropriation) of any of the Company's
        funds or property. If subsequent to Executive's termination of
        employment hereunder for other than Cause it is determined in good faith
        by the Company that Executive's employment could have been terminated
        for Cause hereunder, Executive's employment shall be deemed to have been
        terminated for Cause retroactively to the date the events giving rise to
        Cause occurred.

                5.2 Termination Other Than for Cause. Notwithstanding any other
        provisions of this Agreement, the Company may effect a "Termination
        Other Than For Cause", as hereinafter defined, at any time upon giving
        written notice to Executive of such termination. Upon any Termination
        Other Than for Cause, subject to the effectiveness of Executive's
        execution of a release and waiver of all claims with respect to
        Executive's employment against the Company its Affiliates and their
        respective officers and directors in a form reasonably satisfactory to
        the Company other than rights under this Section 5.2 and subject to
        Executive's compliance with the terms and conditions contained in this
        Agreement, Executive shall within 30 days after such termination be paid
        all accrued salary, bonus compensation to the extent earned, vested
        deferred compensation (other than pension plan or profit sharing plan
        benefits which will be paid in accordance with the applicable plan),
        accrued vacation pay for the year in which termination occurs, any
        benefits under any plans of the Company in which Executive is a
        participant to the full extent of Executive's rights under such plans,
        and any appropriate business expenses incurred by Executive in
        connection with his duties hereunder, all to the date of termination,
        and all severance compensation provided in subsection 6.2. In addition,
        subject to the conditions set forth above, upon such termination of
        employment, all stock options granted to Executive shall become fully
        vested and exercisable and all restricted common stock granted to
        Executive shall fully vest and become transferable. "Termination Other
        Than for Cause" shall mean any termination by the Company of Executive's
        employment with the Company other than a termination pursuant to
        subsection 5.1, 5.3, 5.4, 5.5 or 5.6, or termination by Executive of
        Executive's employment with the Company by reason of (i) the Company's
        material breach of this Agreement, (ii) the assignment of Executive
        without his consent to a position, responsibilities or duties of a
        materially lesser status or degree of responsibility than his position,
        responsibilities or duties as of the Effective Date, (iii) the
        requirement by the Company that Executive be based anywhere other than
        the St. Louis, Missouri metropolitan area, without Executive's consent
        or (iv) the failure of Executive to be reelected to the Board by its
        stockholders or the failure of the Board to re-nominate him for
        reelection without Executive's consent.

                5.3 Termination by Reason of Disability. If, during the term of
        this Agreement, the Executive, in the reasonable judgment of the Board
        of Directors, (i) has failed to perform his duties under this Agreement
        on account of illness or physical or mental incapacity, and (ii) such
        illness or incapacity continues for a period of more than 90 consecutive
        days, or 90 days during any 180 day period, the Company shall have the
        right to terminate Executive's employment hereunder by written
        notification to Executive and payment to Executive of all accrued
        salary, bonus compensation to the extent earned, vested deferred
        compensation, if any, (other than pension plan or profit sharing plan
        benefits which will be paid in accordance with the applicable plans),
        accrued vacation pay for the year in which termination occurs, any
        benefits under any plans of the Company in which Executive is a
        participant to the full extent of Executive's rights under such plans,
        and any appropriate business expenses incurred by Executive in
        connection with his duties hereunder, all to the date of termination,
        but Executive shall not be paid any other

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        compensation or reimbursement of any kind, including without limitation,
        severance compensation.

                5.4 Death. In the event of Executive's death during the term of
        this Agreement, Executive's employment shall be deemed to have
        terminated as of the last day of the month during which his death occurs
        and the Company shall pay to his estate or such beneficiaries as
        Executive may from time to time designate all accrued salary, bonus
        compensation to the extent earned, vested deferred compensation (other
        than pension plan or profit sharing plan benefits which will be paid in
        accordance with the applicable plan), any benefits under any plans of
        the Company in which Executive is a participant to the full extent of
        Executive's rights under such plans, accrued vacation pay for the year
        in which termination occurs, and any appropriate business expenses
        incurred by Executive in connection with his duties hereunder, all to
        the date of termination, but Executive's estate shall not be paid any
        other compensation or reimbursement of any kind, including without
        limitation, severance compensation.

                5.5 Voluntary Termination. In the event of a "Voluntary
        Termination," as hereinafter defined, provided that the Executive
        provides the Company with at least 90 days notice of such termination
        (which notice and any requirement for service may be waived or shortened
        by the Company), the Company shall within 30 days after such termination
        pay all accrued salary, bonus compensation to the extent earned, vested
        deferred compensation, if any, (other than pension plan or profit
        sharing plan benefits which will be paid in accordance with the
        applicable plans), any benefits under any plans of the Company in which
        Executive is a participant to the full extent of Executive's rights
        under such plans, accrued vacation pay for the year in which termination
        occurs, and any appropriate business expenses incurred by Executive in
        connection with his duties hereunder, all to the date of termination,
        but no other compensation or reimbursement of any kind, including
        without limitation, severance compensation. "Voluntary Termination"
        shall mean termination by Executive of Executive's employment other than
        (i) constructive termination as described in paragraphs (i) through (iv)
        of subsection 5.2, (ii) termination by reason of Executive's disability
        as described in subsection 5.3, (iii) termination by reason of
        Executive's death as described in subsection 5.4, and (iv) Termination
        Upon a Change in Control as described in subsection 5.6.

                5.6 Termination Upon a Change in Control. In the event of a
        "Termination Upon a Change in Control," as hereinafter defined,
        Executive shall immediately be paid all accrued salary, bonus
        compensation to the extent earned, vested deferred compensation, if any,
        (other than pension plan or profit sharing plan benefits which will be
        paid in accordance with the applicable plans), any benefits under any
        plans of the Company in which Executive is a participant to the full
        extent of Executive's rights under such plans, vacation pay for the year
        in which termination occurs, and any appropriate business expenses
        incurred by Executive in connection with his duties hereunder, all to
        the date of termination, and all severance compensation provided in
        subsection 6.1. "Termination Upon a Change in Control" shall mean a
        termination by the Company (other than a Termination for Cause) or by
        Executive, in either case within one year following a "Change in
        Control" as hereinafter defined. "Change in Control" shall mean the date
        on which any of the following has occurred:

                        (a) any individual, entity or group (a "Person"), other
                than one or more of the Company's directors on the Effective
                Date of this Agreement or any Person that any such director
                controls, becomes the beneficial owner of 50% or more of the
                combined voting power of the then outstanding voting securities
                of the Company entitled to vote generally in the election of
                directors of the Company (the "Company Outstanding Voting
                Securities");

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                        (b) any Person becomes the beneficial owner of 50% or
                more of the combined voting power of the then outstanding voting
                securities of Enterprise Bank entitled to vote generally in the
                election of directors of Enterprise Bank ("Bank Outstanding
                Voting Securities");

                        (c) consummation of a reorganization, merger or
                consolidation (a "Business Combination") of the Company, unless,
                in each case, following such Business Combination (i) all or
                substantially all of the Persons who were the beneficial owners,
                respectively, of the Company Outstanding Voting Securities
                immediately prior to such Business Combination beneficially own,
                directly or indirectly, more than a majority of the combined
                voting power of the then outstanding voting securities entitled
                to vote generally in the election of directors of the company
                resulting from such Business Combination, (ii) no Person
                (excluding any company resulting from such Business Combination)
                beneficially owns, directly or indirectly, 50% or more of the
                combined voting power of the then outstanding voting securities
                entitled to vote generally in the election of directors of the
                company resulting from such Business Combination except to the
                extent such ownership existed prior to the Business Combination,
                and (iii) at least a majority of the members of the Board of
                Directors of the company resulting from the Business Combination
                are Continuing Directors (as hereinafter defined) at the time of
                the execution of the definitive agreement, or the action of the
                Board, providing for such Business Combination;

                        (d) consummation of the sale, other than in the ordinary
                course of business, of more than 50% of the combined assets of
                the Company and its subsidiaries in a transaction or series of
                related transactions during the course of any twelve-month
                period;

                        (e) the date on which Continuing Directors (as
                hereinafter defined) cease for any reason to constitute at least
                a majority of the Board of Directors of the Company; or

                        (f) the failure of Executive to be reelected to the
                Board by its stockholders or the failure of the Board to
                re-nominate him for reelection without Executive's consent.

        As used in this Section 5.6, the definitions of the terms "beneficial
        owner" and "group" shall have the meanings ascribed to those terms in
        Rule 13(d)(3) under the Securities Exchange Act of 1934. As used in this
        Section 5.6, the term "Continuing Directors" shall mean, as of any date
        of determination, (i) any member of the Board of Directors on the
        Effective Date of this Agreement, (ii) any person who has been a member
        of the Board of Directors for the two years immediately preceding such
        date of determination, or (iii) any person who was nominated for
        election or elected to the Board of Directors with the affirmative vote
        of the greater of (A) a majority of the Continuing Directors who were
        members of the Board of Directors at the time of such nomination or
        election or (B) at least four Continuing Directors but excluding, for
        purposes of this clause (iii), any such individual whose initial
        assumption of office occurs as a result of an actual or threatened
        election contest with respect to the election or removal of directors or
        other actual or threatened solicitation of proxies by or on behalf of a
        Person other than the Board of Directors of the Company. "Control" means
        the direct or indirect ownership of voting securities constituting more
        than fifty percent (50%) of the issued voting securities of a
        corporation.

                5.7 Resignation Upon Termination. Effective upon any termination
        under this Section 5 or otherwise, Executive shall automatically and
        without taking any further actions be deemed to have resigned from all
        positions then held by him with the Company and all of its Affiliates.

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        6. Severance Compensation

                6.1 Termination Upon Change in Control. In the event Executive's
        employment is terminated in a Termination Upon a Change in Control,
        Executive shall be paid the following as severance compensation:

                        (a) For two (2) years following such termination of
                employment, an amount (payable on the dates specified in
                subsection 4.1 except as otherwise provided herein) equal to the
                Base Salary at the rate payable at the time of such termination
                plus (i) any accrued and unpaid Bonus due Executive under
                paragraph 4.3 of this Agreement and (ii) an amount equal to the
                Targeted Bonuses due (based on the Base Salary then in effect)
                for the year in which such termination of employment occurs
                (determined as though all requisite targets were fully and
                completely achieved). Notwithstanding any provision in this
                paragraph (a) to the contrary, Executive may, in Executive's
                sole discretion, by delivery of a notice to the Company within
                30 days following a Termination Upon a Change in Control, elect
                to receive from the Company a lump sum severance payment by bank
                cashier's check equal to the present value of the flow of cash
                payments that would otherwise be paid to Executive pursuant to
                this paragraph (a). Such present value shall be determined as of
                the date of delivery of the notice of election by Executive and
                shall be based on a discount rate equal to the prime rate, as
                reported in The Wall Street Journal, or similar publication, on
                the date of delivery of the election notice. If Executive elects
                to receive a lump sum severance payment, the Company shall make
                such payment to Executive within 30 days following the date on
                which Executive notifies the Company of Executive's election.

                        (b) In the event that Executive is not otherwise
                entitled to fully exercise all awards granted to him under any
                stock option plan maintained by the Company and any such plan
                does not otherwise provide for acceleration of exerciseability
                upon the occurrence of the Change in Control described herein,
                such awards shall become immediately exercisable upon a Change
                in Control.

                        (c) All restricted stock granted to Executive will vest
                and become transferable.

                        (d) Executive shall continue to accrue retirement
                benefits and shall continue to enjoy any benefits under any
                plans of the Company in which Executive is a participant to the
                full extent of Executive's rights under such plans, including
                any perquisites provided under this Agreement, through the
                remainder of the Employment Term; provided, however, that the
                benefits under any such plans of the Company in which Executive
                is a participant, including any such perquisites, shall cease
                upon Executive's obtaining other employment. If necessary to
                provide such benefits to Executive, the Company shall, at its
                election, either: (i) amend its employee benefit plans to
                provide the benefits described in this paragraph (c), to the
                extent that such is permissible under the nondiscrimination
                requirements and other provisions of the Internal Revenue Code
                of 1986 (the "Code") and the provisions of Executive Retirement
                Income Security Act of 1974, or (ii) provide separate benefit
                arrangements or cash payments so that Executive receives amounts
                equivalent thereto, net of tax consequences.

                6.2 Termination Other Than for Cause. In the event Executive's
        employment is terminated in a Termination Other Than for Cause,
        Executive shall be paid as severance compensation his Base Salary, at
        the rate payable at the time of such termination, through the remaining
        period of the Contract Term or the one year period commencing on the
        effective date

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        of such termination (whichever period is shorter) plus (i) any accrued
        and unpaid Bonus due Executive under paragraph 4.3 of this Agreement and
        (ii) an amount equal to the Targeted Bonuses due (based on the Base
        Salary then in effect) for the year in which such termination of
        employment as though all requisite targets were fully and completely
        achieved. Notwithstanding any provision in this subsection 6.2 to the
        contrary, the Company may, in the Company's sole discretion, by delivery
        of a notice to Executive within 30 days following a Termination Other
        Than for Cause, elect to remit to Executive a lump sum severance payment
        by bank cashier's check equal to the present value of the flow of cash
        payments that would otherwise be paid to Executive pursuant to this
        subsection 6.2. Such present value shall be determined as of the date of
        delivery of the notice of election by the Company and shall be based on
        a discount rate equal to the prime rate, as reported in The Wall Street
        Journal, on the date of delivery of the election notice. If the Company
        elects to remit a lump sum severance payment, the Company shall make
        such payment to Executive within 30 days following the date on which the
        Company notifies Executive of its election. In the event that Executive
        is not otherwise entitled to fully exercise all awards granted to him
        under the Company's Incentive Stock Plan, and the Incentive Stock Plan
        does not otherwise provide for acceleration of exerciseability upon the
        occurrence of a Termination Other Than for Cause described herein, such
        awards shall become immediately exercisable upon a Termination Other
        Than for Cause.

                6.3 Termination Upon Any Other Event. In the event of a
        Voluntary Termination, Termination For Cause, termination by reason of
        Executive's disability pursuant to subsection 5.5 or termination by
        reason of Executive's death pursuant to subsection 5.6, Executive or his
        estate shall not be paid any severance compensation.

        7. Confidentiality. Executive agrees to hold in strict confidence all
non-public information concerning any matters affecting or relating to the
business of the Company, including without limiting the generality of the
foregoing non-public information concerning its manner of operation, business or
other plans, data bases, marketing programs, protocols, processes, computer
programs, client lists, marketing information and analyses, operating policies
or manuals or other data. Executive agrees that he will not, directly or
indirectly, use any such information for the benefit of others than the Company
or disclose or communicate any of such information in any manner whatsoever
other than to the directors, officers, employees, agents and representatives of
the Company who need to know such information, who shall be informed by
Executive of the confidential nature of such information and directed by
Executive to treat such information confidentially. Upon the Company's request,
Executive shall return all information furnished to him related to the business
of the Company without retaining any copies in electronic or other form. The
above limitations on use and disclosure shall not apply to information which
Executive can demonstrate: (a) was known to Executive before receipt thereof
from the Company; (b) is learned by Executive from a third party entitled to
disclose it; or (c) becomes known publicly other than through Executive; (c) is
disclosed by Executive upon authority of the Board or any committee of the
Board; (d) is disclosed pursuant to any legal requirement or (e) is disclosed
pursuant to any agreement to which the Company or any of its Subsidiaries or
Affiliates is a party. The parties hereto stipulate that all such information is
material and confidential and gravely affects the effective and successful
conduct of the business of the Company and the Company's goodwill, and that any
breach of the terms of this Section 7 shall be a material breach of this
Agreement. The terms of this Section 7 shall survive and remain in effect
following any termination of this Agreement.

        8. Use of Proprietary Information. Executive recognizes that the Company
possesses a proprietary interest in all of the information described in Section
7 and has the exclusive right and privilege to use, protect by copyright, patent
or trademark, manufacture or otherwise exploit the processes, ideas and concepts
described therein to the exclusion of Executive, except as otherwise agreed
between the Company and Executive in writing. Executive expressly agrees that
any products,

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inventions, discoveries or improvements made by Executive, his agents or
affiliates, during the term of this Agreement, based on or arising out of the
information described in Section 7 shall be the property of and inure to the
exclusive benefit of the Company. Executive further agrees that any and all
products, inventions, discoveries or improvements developed by Executive
(whether or not able to be protected by copyright, patent or trademark) in the
scope of his employment, or involving the use of the Company's time, materials
or other resources, shall be promptly disclosed to the Company and shall become
the exclusive property of the Company.

        9. Non-Competition Agreement.

                9.1 Non-Competition. Executive agrees that, during the
        Employment Term and for a period of one year following any termination
        of such employment, Executive shall not, without the prior written
        consent of the Company, directly or indirectly, own, manage, operate,
        control, be connected with as an officer, employee, partner, consultant
        or otherwise, or otherwise engage or participate in (except as an
        employee of the Company, or Affiliate of it) any corporation or other
        business entity engaged in the operation, ownership or management of a
        bank, trust company or financial services business within the
        Metropolitan Statistical Areas of St. Louis, Kansas City or any other
        city in which the Company or any of its Affiliates has an office at the
        time of such termination. Notwithstanding the foregoing, the ownership
        by Executive of less than 1% of any class of the outstanding capital
        stock of any corporation conducting such a competitive business which is
        regularly traded on a national securities exchange or in the
        over-the-counter market shall not be a violation of the foregoing
        covenant.

                9.2 Non-Solicitation. During the period of actual employment
        and, in addition, the period, if any, during which Executive shall be
        entitled to severance compensation pursuant to Section 6
        (notwithstanding an election by Executive to receive a lump sum
        severance payment for such period), Executive shall not, except on
        behalf of or with the prior written consent of the Company, directly or
        indirectly, entice or induce, or attempt to entice or induce, any
        employee of the Company to leave such employ, or employ any such person
        in any business similar to or in competition with that of the Company.
        Executive hereby acknowledges and agrees that the provisions set forth
        in this subsection 9.2 constitute a reasonable restriction on his
        ability to compete with the Company.

                9.3 Saving Provision. The parties hereto agree that, in the
        event a court of competent jurisdiction shall determine that the
        geographical or durational elements of this covenant are unenforceable,
        such determination shall not render the entire covenant unenforceable.
        Rather, the excessive aspects of the covenant shall be reduced to the
        threshold which is enforceable, and the remaining aspects shall not be
        affected thereby.

                9.4 Equitable Relief. Executive acknowledges that the extent of
        damages to the Company from a breach of Sections 7, 8 and 9 of this
        Agreement would not be readily quantifiable or ascertainable, that
        monetary damages would be inadequate to make the Company whole in case
        of such a breach, and that there is not and would not be an adequate
        remedy at law for such a breach. Therefore, Executive specifically
        agrees that the Company is entitled to injunctive or other equitable
        relief (without any requirement to post any bond or other security) from
        a breach of Sections 7, 8 and 9 of this Agreement, and hereby waives and
        covenants not to assert against a prayer for such relief that there
        exists an adequate remedy at law, in monetary damages or otherwise.

        10. Assignment. This Agreement shall not be assignable by Executive and
shall not be assignable by the Company except by operation of law or to a
successor entity acquiring all or

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substantially all the Company's business or assets. No such assignment shall
affect any determination of whether such assignment involves a Change of Control
for purposes of this Agreement. In the event of any assignment permitted hereby,
the duties and responsibilities of Executive performed for the assignee shall
not, without the written consent of Executive, be materially increased, altered
or diminished in a manner inconsistent with Executive's duties and
responsibilities hereunder for the Company.

        11. Indemnification. The Company shall indemnify the Executive to the
full extent provided for in the Bylaws of the Company, and no amendment of such
Bylaws shall diminish the Company's obligation to indemnify the Executive
pursuant to this Agreement.

        12. Entire Agreement. This Agreement and any agreements entered into
after the date hereof under any of the Company's benefit plans or compensation
programs as described in Section 4 contain the complete agreement concerning the
employment arrangement between the parties, including without limitation
severance or termination pay, and shall, as of the Effective Date, supersede all
other agreements or arrangements between the parties with regard to the subject
matter hereof.

        13. Binding Agreement. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective heirs, legal
representatives, successors and assigns. The obligations of the Company under
this Agreement shall not be terminated by reason of any liquidation,
dissolution, bankruptcy, cessation of business or similar event relating to the
Company. This Agreement shall not be terminated by reason of any merger,
consolidation or reorganization of the Company, but shall be binding upon and
inure to the benefit of the surviving or resulting entity.

        14. Modification. No waiver or modification of this Agreement or of any
covenant, condition, or limitation herein contained shall be valid unless
authorized by the Board and reduced to in writing and duly executed by the party
to be charged therewith and no evidence of any waiver or modification shall be
offered or received in evidence of any proceeding, arbitration, or litigation
between the parties hereto arising out of or affecting this Agreement, or the
rights or obligations of the parties thereunder, unless such waiver or
modification is in writing, duly executed as aforesaid.

        15. Severability. All agreements and covenants contained herein are
severable, and in the event any of them shall be held to be invalid or
unenforceable by any court of competent jurisdiction, this Agreement shall be
interpreted as if such invalid agreements or covenants were not contained
herein.

        16. Manner of Giving Notice. All notices, requests and demands to or
upon the respective parties hereto shall be sent by hand, certified mail,
overnight air courier service, in each case with all applicable charges paid or
otherwise provided for, addressed as follows, or to such other address as may
hereafter be designated in writing by the respective parties hereto:

        To Company:                            To Executive: at his current
        Enterprise Financial Services Corp     residential address on file with
        150 North Meramec                      the Company.
        Clayton, Missouri  63105
        Attention:     President
                       and Corporate Secretary

        Such notices, requests and demands shall be deemed to have been given or
made on the date of delivery if delivered by hand or by telecopy and on the next
following date if sent by mail or by air courier service.

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        17. Remedies. In the event of a breach of this Agreement, the
non-breaching party shall be entitled to such legal and equitable relief as may
be provided by law, and shall further be entitled to recover all costs and
expenses, including reasonable attorneys' fees, incurred in enforcing the
non-breaching party's rights hereunder.

        18. Headings. The headings have been inserted for convenience only and
shall not be deemed to limit or otherwise affect any of the provisions of this
Agreement.

        19. Choice of Law. It is the intention of the parties hereto that this
Agreement and the performance hereunder be construed in accordance with, under
and pursuant to the laws of the State of Missouri without regard to the
jurisdiction in which any action or special proceeding may be instituted.

        20. Taxes. The company may withhold from any payments made under this
Agreement all applicable taxes, including but not limited to income, employment
and social insurance taxes, as shall be required by law.

        21. Voluntary Agreement; No Conflicts. Executive hereby represents and
warrants to the Company that he is legally free to accept and perform his
employment with the Company, that he has no obligation to any other person or
entity that would affect or conflict with any of Executive's obligations
pursuant to such employment, and that the complete performance of the
obligations pursuant to Executive's employment will not violate any order or
decree of any governmental or judicial body or contract by which Executive is
bound. The Company will not request or require, and Executive agrees not to use,
in the course of Executive's employment with the Company, any information
obtained in Executive's employment with any previous employer to the extent that
such use would violate any contract by which Executive is bound or any decision,
law, regulation, order or decree of any governmental or judicial body.

        22. Certain Definitions. As used herein, the following definitions shall
apply:

        "Affiliate" with respect to any person, means any other Person that,
directly or indirectly through one or more intermediaries, Controls, is
Controlled by, or is under common Control with the first Person, including but
not limited to a Subsidiary of the first Person, a Person of which the first
Person is a Subsidiary, or another Subsidiary of a Person of which the first
Person is also a Subsidiary.

        "Control" With respect to any Person, means the possession, directly or
indirectly, severally or jointly, of the power to direct or cause the direction
of the management policies of such Person, whether through the ownership of
voting securities, by contract or credit arrangement, as trustee or executor, or
otherwise.

        "Person" Any natural person, firm, partnership, limited liability
company, association, corporation, company, trust, business trust, governmental
authority or other entity.

        "Subsidiary" With respect to any Person, each corporation or other
Person in which the first Person owns or Controls, directly or indirectly,
capital stock or other ownership interests representing 50% or more of the
combined voting power of the outstanding voting stock or other ownership
interests of such corporation or other Person.

                                       108

<PAGE>

        IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
the date first stated above.

                                     ENTERPRISE FINANCIAL SERVICES CORP

                                     By:
                                         ---------------------------------------

                                     Title:
                                           -------------------------------------

                                     -------------------------------------------
                                     Peter F. Benoist

                                       109

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