Document:

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                                                                   EXHIBIT 10.10

Form of Change-in-Control Agreements are made with the following three Executive
Officers of Cullen/Frost Bankers, Inc.

1. Richard W. Evans, Jr.

2. Phillip D. Green

3. Patrick B. Frost

All of the above agreements are substantially identical in all material
respects, except as to the parties thereto.

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CULLEN/FROST BANKERS, INC.
EXECUTIVE SEVERANCE AGREEMENT

      THIS AGREEMENT is made and entered into as of the 31st day of December,
2000, by and between Cullen/Frost Bankers, Inc. (hereinafter referred to as the
"Company") and [Name] (hereinafter referred to as the "Executive").

      WHEREAS, the Board of Directors of the Company has approved the Company
entering into severance agreements with certain key executives of the Company;

      WHEREAS, the Executive is a key executive of the Company;

      WHEREAS, should the possibility of a Change in Control of the Company
arise, the Board believes it is imperative that the Company and the Board should
be able to rely upon the Executive to continue in his/her position, and that the
Company should be able to receive and rely upon the Executive's advice, if
requested, as to the best interests of the Company and its shareholders without
concern that the Executive might be distracted by the personal uncertainties and
risks created by the possibility of a Change in Control;

      WHEREAS, should the possibility of a Change in Control arise, in addition
to his/her regular duties, the Executive may be called upon to assist in the
assessment of such possible Change in Control, advise management and the Board
as to whether such Change in Control would be in the best interests of the
Company and its shareholders, and to take such other actions as the Board might
determine to be appropriate; and

      WHEREAS, the Executive and the Company desire that the terms of this
Agreement shall completely replace and supersede the provisions set forth in the
Cullen/Frost Bankers, Inc. Executive Severance Plan and the Executive Severance
Agreement, entered into by and between the Company and the Executive on
((Date)), setting forth the terms and provisions with respect to the Executive's
entitlement to payments and benefits following a Change in Control of the
Company.

      NOW THEREFORE, to assure the Company that it will have the continued
dedication of the Executive and the availability of his/her advice and counsel
notwithstanding the possibility, threat, or occurrence of a Change in Control of
the Company, and to induce the Executive to remain in the employ of the Company,
and for other good and valuable consideration, the Company and the Executive
agree as follows:

ARTICLE 1. ESTABLISHMENT, TERM, AND PURPOSE

      This Agreement will commence on the Effective Date and shall continue in
effect for one (1) full year. However, at the end of such one (1) year period
and, if extended, at the end of each additional year thereafter, the term of
this Agreement shall be extended automatically for one (1) additional year,
unless the Committee delivers written notice thirty (30) days prior to the end
of such term, or extended term, to each Executive, that the Agreement will not
be extended. In such case, the Agreement will terminate at the end of the term,
or extended term, then in progress.

      However, in the event a Change in Control occurs during the original or
any extended term, this Agreement will remain in effect for the longer of: (i)
twenty-four (24) months beyond the month in which such Change in Control

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occurred; or (ii) until all obligations of the Company hereunder have been
fulfilled, and until all benefits required hereunder have been paid to the
Executive.

ARTICLE 2. DEFINITIONS

      Whenever used in this Agreement, the following terms shall have the
meanings set forth below and, when the meaning is intended, the initial letter
of the word is capitalized.

      2.1 "BASE SALARY" means the salary of record paid to an Executive as
annual salary, excluding amounts received under incentive or other bonus plans,
whether or not deferred.

      2.2 "BENEFICIAL OWNER" shall have the meaning ascribed to such term in
Rule 13d-3 of the General Rules and Regulations under the Exchange Act.

      2.3 "BENEFICIARY" means the persons or entities designated or deemed
designated by the Executive pursuant to Section 11.2 herein.

      2.4 "BOARD" means the Board of Directors of the Company.

      2.5 "CAUSE" means:

      (a)   The Executive's willful and continued failure to substantially
            perform his/her duties with the Company (other than any such failure
            resulting from Disability or occurring after issuance by the
            Executive of a Notice of Termination for Good Reason), after a
            written demand for substantial performance is delivered to the
            Executive that specifically identifies the manner in which the
            Company believes that the Executive has willfully failed to
            substantially perform his/her duties, and after the Executive has
            failed to resume substantial performance of his/her duties on a
            continuous basis within thirty (30) calendar days of receiving such
            demand;

      (b)   The Executive's willfully engaging in conduct (other than conduct
            covered under (a) above) which is demonstrably and materially
            injurious to the Company, monetarily or otherwise; or

      (c)   The Executive's having been convicted of a felony.

            For purposes of this subparagraph, no act, or failure to act, on the
            Executive's part shall be deemed "willful" unless done, or omitted
            to be done, by the Executive not in good faith and without
            reasonable belief that the action or omission was in the best
            interests of the Company.

      2.6 "CHANGE IN CONTROL" of the Company shall be deemed to have occurred as
of the first day that any one or more of the following conditions is satisfied
and regulatory approval has been granted if necessary:

      (a)   The "beneficial ownership" (as defined in Rule 13d-3 under the
            Exchange Act) of securities representing more than 20 percent (20%)
            of the combined voting power of the Company is acquired by a Person
            (other than the Company, any trustee or other fiduciary holding
            securities under an employee benefit plan of the Company or an
            affiliate thereof, or any corporation owned, directly or indirectly,
            by the stockholders of the Company in substantially the same
            proportions as their ownership of stock of the Company); or

      (b)   The stockholders of the Company approve a definitive agreement to
            merge or consolidate the Company with or into another company (other
            than a merger or consolidation which would result in the voting
            securities of the Company outstanding immediately prior thereto
            continuing to represent (either by

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            remaining outstanding or by being converted into voting securities
            of the surviving entity) more than sixty percent (60%) of the
            combined voting power of the voting securities of the Company or
            such surviving entity outstanding immediately after such merger or
            consolidation);

      (c)   During any period of two (2) consecutive years, individuals who at
            the beginning of such period constitute the Board of Directors and
            any new director (other than a director designated by a person who
            has entered into an agreement with the Company to effect a
            transaction described in paragraph (a) or (b) of this section) whose
            election by the Board of Directors or nomination for election by the
            Company's stockholders was approved by a vote of at least two-thirds
            of the directors then still in office who either were directors at
            the beginning of the period or whose election or nomination for
            election was previously so approved, cease for any reason to
            constitute a majority thereof; or

      (d)   The stockholders of the Company approve a definitive agreement to
            sell or otherwise dispose of all or substantially all of its assets,
            or adopt a plan for liquidation.

      However, in no event shall a Change in Control be deemed to have occurred,
with respect to the Executive, if the Executive is part of a purchasing group
which consummates the Change-in-Control transaction. The Executive shall be
deemed "part of a purchasing group" for purposes of the preceding sentence if
the Executive is an equity participant in the purchasing company or group
(except for: (i) passive ownership of less than three percent (3%) of the stock
of the purchasing company; or (ii) ownership of equity participation in the
purchasing company or group which is otherwise not significant, as determined
prior to the Change in Control by a majority of the nonemployee continuing
Directors).

      2.7 "CODE" means the United States Internal Revenue Code of 1986, as
amended, and any successors thereto.

      2.8 "COMMITTEE" means the Compensation and Benefits Committee of the Board
or any other committee appointed by the Board to perform the functions of the
Compensation and Benefits Committee.

      2.9 "COMPANY" means Cullen/Frost Bankers, Inc., a Delaware corporation, or
any successor thereto as provided in Article 10 herein.

      2.10 "DISABILITY" means complete and permanent inability by reason of
illness or accident to perform the duties of the occupation at which the
Executive was employed when such disability commenced.

      2.11 "EFFECTIVE DATE" means the date of this Agreement set forth above.

      2.12 "EFFECTIVE DATE OF TERMINATION" means the date on which a Qualifying
Termination occurs which triggers the payment of Severance Benefits hereunder.

      2.13 "EXCHANGE ACT" means the United States Securities Exchange Act of
1934, as amended.

      2.14 "GOOD REASON" shall mean, without the Executive's express written
consent, the occurrence of any one or more of the following:

      (a)   The assignment of the Executive to duties materially inconsistent
            with the Executive's authorities, duties, responsibilities, and
            status (including offices and reporting requirements) as an employee
            of the Company, or a reduction or alteration in the nature or status
            of the Executive's authorities, duties, or responsibilities than
            those in effect immediately preceding the Change in Control;

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      (b)   The Company's requiring the Executive to be based at a location
            which is at least fifty (50) miles further from the current primary
            residence than is such residence from the Company's current
            headquarters, except for required travel on the Company's business
            to an extent substantially consistent with the Executive's business
            obligations as of the Effective Date;

      (c)   A material change in the Executive's Base Salary or bonus
            opportunity as in effect on the Effective Date or as the same shall
            be increased from time to time;

      (d)   A material reduction in the Executive's level of participation in
            any of the Company's short- and/or long-term incentive compensation
            plans, or employee benefit or retirement plans, policies, practices,
            or arrangements in which the Executive participates immediately
            preceding the Change in Control; provided, however, that reductions
            in the levels of participation in any such plans shall not be deemed
            to be "Good Reason" if the Executive's reduced level of
            participation in each such program remains substantially consistent
            with the average level of participation of other executives who have
            positions commensurate with the Executive's position.

            For purposes of this Agreement, long-term incentives shall mean the
            Cullen Frost Bankers, Inc. 1992 Stock Plan and any other similar
            plans instituted by the Company;

      (e)   The failure of the Company to obtain a satisfactory agreement from
            any successor to the Company to assume and agree to perform this
            Agreement, as contemplated in Article 10 herein; or

      (f)   Any termination of Executive's employment by the Company that is not
            effected pursuant to a Notice of Termination.

      The existence of Good Reason shall not be affected by the Executive's
temporary incapacity due to physical or mental illness not constituting a
Disability. The Executive's Retirement shall constitute a waiver of the
Executive's rights with respect to any circumstance constituting Good Reason.
The Executive's continued employment shall not constitute a waiver of the
Executive's rights with respect to any circumstance constituting Good Reason.

      2.15 "NOTICE OF TERMINATION" shall mean a written notice which shall
indicate the specific termination provision in this Agreement relied upon, and
shall set forth in reasonable detail the facts and circumstances claimed to
provide a basis for termination of the Executive's employment under the
provision so indicated.

      2.16 "PERSON" shall have the meaning ascribed to such term in Section
3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof,
including a "group" as provided in Section 13(d).

      2.17 "QUALIFYING TERMINATION" means any of the events described in Section
3.2 herein, the occurrence of which triggers the payment of Severance Benefits
hereunder.

      2.18 "RETIREMENT" means the Executive's voluntary termination of
employment in a manner which qualifies the Executive to receive immediately
payable retirement benefits under the Company's tax-qualified retirement plan or
under the successor or replacement of such retirement plan if it is then no
longer is effect.

      2.19 "SEVERANCE BENEFITS" means the payment of severance compensation as
provided in Section 3.3 herein.

      2.20 "TARGET BONUS" shall mean the target bonus amount established under
the Company's annual incentive plan.

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      2.21 "TRUST" means the Company grantor trust to be created pursuant to
Article 6 of this Agreement.

ARTICLE 3. SEVERANCE BENEFITS

      3.1 RIGHT TO SEVERANCE BENEFITS. The Executive shall be entitled to
receive from the Company Severance Benefits, as described in Section 3.3 herein,
if there has been a Change in Control of the Company and if, within twenty-four
(24) calendar months following the Change in Control, a Qualifying Termination
of the Executive has occurred.

      The Executive shall not be entitled to receive Severance Benefits if
he/she is terminated for Cause, or if his/her employment with the Company ends
due to death, Disability, or Retirement or due to a voluntary termination of
employment by the Executive without Good Reason.

      3.2 QUALIFYING TERMINATION. The occurrence of any one or more of the
following events shall trigger the payment of Severance Benefits to the
Executive under this Agreement:

      (a)   An involuntary termination of the Executive's employment by the
            Company for reasons other than Cause within twenty-four (24)
            calendar months following a Change in Control of the Company
            pursuant to a Notice of Termination delivered to the Executive by
            the Company;

      (b)   A voluntary termination by the Executive for Good Reason within
            twenty-four (24) calendar months following a Change in Control of
            the Company pursuant to a Notice of Termination delivered to the
            Company by the Executive; or

      (c)   The Company or any successor company breaches any of the provisions
            of this Agreement.

      3.3 DESCRIPTION OF SEVERANCE BENEFITS. In the event the Executive becomes
entitled to receive Severance Benefits, as provided in Sections 3.1 and 3.2
herein, the Company shall pay to the Executive and provide him with the
following:

      (a)   An amount equal to three (3) times the highest rate of the
            Executive's annualized Base Salary in effect immediately preceding
            the Change in Control.

      (b)   An amount equal to three (3) times the Executive's highest target
            bonus established for the year immediately preceding the Change in
            Control.

      (c)   An amount equal to the Executive's unpaid Base Salary, a pro rata
            amount of the Executive's Target Bonus for the year in which the
            termination occurs, accrued vacation pay, and earned but not taken
            vacation pay through the Effective Date of Termination.

      (d)   A continuation of the welfare benefits of health care, life and
            accidental death and dismemberment, and disability insurance
            coverage for three (3) full years after the Effective Date of
            Termination. These benefits shall be provided to the Executive at
            the same premium cost, and at the same coverage level, as in effect
            as of the Executive's Effective Date of Termination. However, in the
            event the premium cost and/or level of coverage shall change for all
            employees of the Company, or for management employees with respect
            to supplemental benefits, the cost and/or coverage level, likewise,
            shall change for the Executive in a corresponding manner.

            The continuation of these welfare benefits shall be discontinued
            prior to the end of the three (3) year period in the event the
            Executive has available substantially similar benefits at a
            comparable cost from a subsequent employer, as determined by the
            Committee.

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      (e)   All long-term incentive awards immediately vest.

      The aggregate benefits accrued by the Executive as of the Effective Date
of Termination under all other savings and retirement plans sponsored by the
Company shall be distributed pursuant to the terms of the applicable plans.

      3.4 TERMINATION FOR DISABILITY. Following a Change in Control of the
Company, if an Executive's employment is terminated due to Disability, the
Executive shall receive his/her Base Salary through the Effective Date of
Termination, at which point in time the Executive's benefits shall be determined
in accordance with the Company's disability, retirement, insurance, and other
applicable plans and programs then in effect. In the event the Executive's
employment is terminated due to Disability, the Executive shall not be entitled
to the Severance Benefits described in Section 3.3.

      3.5 TERMINATION FOR RETIREMENT OR DEATH. Following a Change in Control of
the Company, if the Executive's employment is terminated by reason of his/her
Retirement or death, the Executive's benefits shall be determined in accordance
with the Company's retirement, survivor's benefits, insurance, and other
applicable programs of the Company then in effect. In the event the Executive's
employment is terminated by reason of his/her Retirement or death, the Executive
shall not be entitled to the Severance Benefits described in Section 3.3.

      3.6 TERMINATION FOR CAUSE, OR OTHER THAN FOR GOOD REASON OR RETIREMENT.
Following a Change in Control of the Company, if the Executive's employment is
terminated either: (a) by the Company for Cause; or (b) by the Executive (other
than for Retirement, Good Reason, or under circumstances giving rise to a
Qualifying Termination described in Section 3.2(c) herein), the Company shall
pay the Executive his/her full Base Salary and accrued vacation through the
Effective Date of Termination, at the rate then in effect, plus all other
amounts to which the Executive is entitled under any compensation plans of the
Company, at the time such payments are due, and the Company shall have no
further obligations to the Executive under this Agreement.

      3.7 NOTICE OF TERMINATION. Any termination of employment by the Company or
by the Executive for Good Reason shall be communicated by a Notice of
Termination.

ARTICLE 4. FORM AND TIMING OF SEVERANCE BENEFITS

      4.1 FORM AND TIMING OF SEVERANCE BENEFITS. The Severance Benefits
described in Sections 3.3(a), 3.3(b), and 3.3(c) herein shall be paid in cash to
the Executive in a single lump sum as soon as practicable following the
Effective Date of Termination, but in no event beyond thirty (30) days from such
date.

      4.2 WITHHOLDING OF TAXES. The Company shall be entitled to withhold from
any amounts payable under this Agreement all taxes as legally shall be required
(including, without limitation, any United States federal taxes and any other
state, city, or local taxes).

ARTICLE 5. EXCISE TAX EQUALIZATION PAYMENT

      5.1 EXCISE TAX EQUALIZATION PAYMENT. In the event that the Executive
becomes entitled to Severance Benefits or any other payment or benefit under
this Agreement, or under any other agreement with or plan of the Company (in the
aggregate, the "Total Payments"), if all or any part of the Total Payments will
be subject to the tax (the "Excise Tax") imposed by Section 4999 of the Code (or
any similar tax that may hereafter be imposed), the Company shall pay to the
Executive in cash an additional amount (the "Gross-Up Payment") such that the
net amount retained by the Executive after deduction of any Excise Tax upon the
Total Payments and any federal, state, and local income tax, penalties,
interest, and Excise Tax upon the Gross-Up Payment provided for by this Section
5.1 (including FICA and FUTA), shall be equal to the Total Payments. Such
payment shall be made by the Company to the Executive as soon as practical
following the Effective Date of Termination, but in no event beyond thirty (30)
days from such date.

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      5.2 TAX COMPUTATION. For purposes of determining whether any of the Total
Payments will be subject to the Excise Tax and the amounts of such Excise Tax:

      (a)   Any other payments or benefits received or to be received by the
            Executive in connection with a Change in Control of the Company or
            the Executive's termination of employment (whether pursuant to the
            terms of this Agreement or any other plan, arrangement, or agreement
            with the Company, or with any Person whose actions result in a
            Change in Control of the Company or any Person affiliated with the
            Company or such Persons) shall be treated as "parachute payments"
            within the meaning of Section 280G(b)(2) of the Code, and all
            "excess parachute payments" within the meaning of Section 280G(b)(1)
            shall be treated as subject to the Excise Tax, unless in the opinion
            of tax counsel as supported by the Company's independent auditors
            and acceptable to the Executive, such other payments or benefits (in
            whole or in part) do not constitute parachute payments, or unless
            such excess parachute payments (in whole or in part) represent
            reasonable compensation for services actually rendered within the
            meaning of Section 280G(b)(4) of the Code in excess of the base
            amount within the meaning of Section 280G(b)(3) of the Code, or are
            otherwise not subject to the Excise Tax;

      (b)   The amount of the Total Payments which shall be treated as subject
            to the Excise Tax shall be equal to the lesser of: (i) the total
            amount of the Total Payments; or (ii) the amount of excess parachute
            payments within the meaning of Section 280G(b)(1) (after applying
            clause (a) above); and

      (c)   The value of any noncash benefits or any deferred payment or benefit
            shall be determined by the Company's independent auditors in
            accordance with the principles of Sections 280G(d)(3) and (4) of the
            Code.

      For purposes of determining the amount of the Gross-Up Payment, the
Executive shall be deemed to pay federal income taxes at the highest marginal
rate of federal income taxation in the calendar year in which the Gross-Up
Payment is to be made, and state and local income taxes at the highest marginal
rate of taxation in the state and locality of the Executive's residence on the
Effective Date of Termination, net of the maximum reduction in federal income
taxes which could be obtained from deduction of such state and local taxes.

      5.3 SUBSEQUENT RECALCULATION. In the event the Internal Revenue Service
adjusts the computation of the Company under Section 5.2 herein so that the
Executive did not receive the greatest net benefit, the Company shall reimburse
the Executive for the full amount necessary to make the Executive whole, plus a
market rate of interest, as determined by the Committee.

ARTICLE 6. THE COMPANY'S PAYMENT OBLIGATION

      The Company's obligation to make the payments and the arrangements
provided for herein shall be absolute and unconditional, and shall not be
affected by any circumstances, including, without limitation, any offset,
counterclaim, recoupment, defense, or other right which the Company may have
against the Executive or anyone else. All amounts payable by the Company
hereunder shall be paid without notice or demand. Each and every payment made
hereunder by the Company shall be final, and the Company shall not seek to
recover all or any part of such payment from the Executive or from whomsoever
may be entitled thereto, for any reasons whatsoever.

      The Executive shall not be obligated to seek other employment in
mitigation of the amounts payable or arrangements made under any provision of
this Agreement, and the obtaining of any such other employment shall in no event
effect any reduction of the Company's obligations to make the payments and
arrangements required to be made under this Agreement, except to the extent
provided in Section 3.3(d) herein.

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ARTICLE 7. LEGAL REMEDIES

      7.1 PAYMENT OF LEGAL FEES. To the extent permitted by law, the Company
shall pay all legal fees, costs of litigation, prejudgment interest, and other
expenses incurred in good faith by the Executive as a result of the Company's
refusal to provide the Severance Benefits to which the Executive becomes
entitled under this Agreement, or as a result of the Company's contesting the
validity, enforceability, or interpretation of this Agreement, or as a result of
any conflict (including conflicts related to the calculation of parachute
payments) between the parties pertaining to this Agreement.

      7.2 ARBITRATION. Any dispute or controversy arising under or in connection
with this Agreement shall be settled by arbitration, conducted before a panel of
three (3) arbitrators sitting in a location selected by the Executive within
fifty (50) miles from the location of his/her employment with the Company, in
accordance with the rules of the American Arbitration Association then in
effect.

      Judgment may be entered on the award of the arbitrator in any court having
proper jurisdiction. All expenses of such arbitration, including the fees and
expenses of the counsel for the Executive, shall be borne by the Company.

ARTICLE 8. SUCCESSORS AND ASSIGNMENT

      8.1 SUCCESSORS TO THE COMPANY. The Company will require any successor
(whether direct or indirect, by purchase, merger, consolidation, or otherwise)
of all or substantially all of the business and/or assets of the Company or of
any division or subsidiary thereof to expressly assume and agree to perform the
Company's obligations under this Agreement in the same manner and to the same
extent that the Company would be required to perform them if no such succession
had taken place. The date on which any such succession becomes effective shall
be deemed to be the date of the Change in Control.

      8.2 ASSIGNMENT BY THE EXECUTIVE. This Agreement shall inure to the benefit
of and be enforceable by the Executive's personal or legal representatives,
executors, administrators, successors, heirs, distributees, devisees, and
legatees. If the Executive dies while any amount would still be payable to him
hereunder had he/she continued to live, all such amounts, unless otherwise
provided herein, shall be paid in accordance with the terms of this Agreement to
the Executive's Beneficiary. If the Executive has not named a Beneficiary, then
such amounts shall be paid to the Executive's devisee, legatee, or other
designee, or if there is no such designee, to the Executive's estate.

ARTICLE 9. MISCELLANEOUS

      9.1 EMPLOYMENT STATUS. Except as may be provided under any other agreement
between the Executive and the Company, the employment of the Executive by the
Company is "at will," and may be terminated by either the Executive or the
Company at any time, subject to applicable law.

      9.2 BENEFICIARIES. The Executive may designate one or more persons or
entities as the primary and/or contingent Beneficiaries of any Severance
Benefits owing to the Executive under this Agreement. Such designation must be
in the form of a signed writing acceptable to the Committee. The Executive may
make or change such designations at any time.

      9.3 SEVERABILITY. In the event any provision of this Agreement shall be
held illegal or invalid for any reason, the illegality or invalidity shall not
affect the remaining parts of the Agreement, and the Agreement shall be
construed and enforced as if the illegal or invalid provision had not been
included. Further, the captions of this Agreement are not part of the provisions
hereof and shall have no force and effect.

      9.4 MODIFICATION. No provision of this Agreement may be modified, waived,
or discharged unless such modification, waiver, or discharge is agreed to in
writing and signed by the Executive and by an authorized member of the
Committee, or by the respective parties' legal representatives and successors.

<PAGE>   10

      9.5 APPLICABLE LAW. To the extent not preempted by the laws of the United
States, the laws of the state of Texas shall be the controlling law in all
matters relating to this Agreement.

            IN WITNESS WHEREOF, the parties have executed this Agreement on this
________ day of _________________, 2000.

Cullen/Frost Bankers, Inc.                          Executive

By:
     --------------------------                     ---------------------------
Its: Chairman

     Attest:<PAGE>   1

                                                                    EXHIBIT 10.5

                                RSA SECURITY INC.

                              AMENDED AND RESTATED
                 1998 NON-OFFICER EMPLOYEE STOCK INCENTIVE PLAN
                 ----------------------------------------------

1.   RESTATEMENT, PURPOSE

     (a) RESTATEMENT. This Amended and Restated 1998 Non-Officer Employee Stock
Incentive Plan (the "Plan") of RSA Security Inc., a Delaware corporation (the
"Company"), amends and restates the 1998 Non-Officer Employee Stock Incentive
Plan of the Company initially approved by the Company's Board of Directors on
December 9, 1998 and subsequently amended.

     (b) PURPOSE. The purpose of the Plan is to advance the interests of the
Company's stockholders by enhancing the Company's ability to attract, retain and
motivate persons who make (or are expected to make) important contributions to
the Company by providing such persons with equity ownership opportunities and
performance-based incentives and thereby better aligning the interests of such
persons with those of the Company's stockholders. Except where the context
otherwise requires, the term "Company" shall include any of the Company's
present or future subsidiary corporations as defined in Section 424(f) of the
Internal Revenue Code of 1986, as amended, and any regulations promulgated
thereunder (the "Code").

2.   ELIGIBILITY

     All of the Company's employees (and any individuals who have accepted an
offer for employment), consultants and advisors, other than those who are also
officers (within the meaning of Section 16 of the Securities Exchange Act, as
amended (the "Exchange Act"), and the rules and regulations promulgated
thereunder) or directors of the Company, are eligible to be granted options,
restricted stock awards, or other stock-based awards (each, an "Award") under
the Plan. Each person who has been granted an Award under the Plan shall be
deemed a "Participant."

3.   ADMINISTRATION, DELEGATION

     (a) ADMINISTRATION BY BOARD OF DIRECTORS. The Plan will be administered by
the Board of Directors of the Company (the "Board"). The Board shall have
authority to grant Awards and to adopt, amend and repeal such administrative
rules, guidelines and practices relating to the Plan as it shall deem advisable.
The Board may correct any defect, supply any omission or reconcile any
inconsistency in the Plan or any Award in the manner and to the extent it shall
deem expedient to carry the Plan into effect and it shall be the sole and final
judge of such expediency. All decisions by the Board shall be made in the
Board's sole discretion and shall be final and binding on all persons having or
claiming any interest in the Plan or in any Award. No director or person acting
pursuant to the authority delegated by the Board shall be liable for any action
or determination relating to or under the Plan made in good faith.

<PAGE>   2

     (b) DELEGATION TO EXECUTIVE OFFICERS. To the extent permitted by applicable
law, the Board may delegate to one or more executive officers of the Company the
power to make Awards and exercise such other powers under the Plan as the Board
may determine, provided that the Board shall fix the maximum number of shares
subject to Awards and the maximum number of shares for any one Participant to be
made by such executive officers.

     (c) APPOINTMENT OF COMMITTEES. To the extent permitted by applicable law,
the Board may delegate any or all of its powers under the Plan to one or more
committees or subcommittees of the Board (a "Committee"). All references in the
Plan to the "Board" shall mean the Board or a Committee of the Board or the
executive officer referred to in Section 3(b) to the extent that the Board's
powers or authority under the Plan have been delegated to such Committee or
executive officer.

4.   STOCK AVAILABLE FOR AWARDS

     Subject to adjustment under Section 8, Awards may be made under the Plan
for up to 4,760,959 shares of common stock, $.01 par value per share, of the
Company (the "Common Stock"). If any Award expires or is terminated, surrendered
or canceled without having been fully exercised or is forfeited in whole or in
part or results in any Common Stock not being issued, the unused Common Stock
covered by such Award shall again be available for the grant of Awards under the
Plan. Shares issued under the Plan may consist in whole or in part of authorized
but unissued shares or treasury shares.

5.   NONSTATUTORY STOCK OPTIONS

     (a) GENERAL. The Board may grant nonstatutory stock options to purchase
Common Stock (each, an "Option") and determine the number of shares of Common
Stock to be covered by each Option, the exercise price of each Option and the
conditions and limitations applicable to the exercise of each Option, including
conditions relating to applicable federal or state securities laws, as it
considers necessary or advisable. No Option granted under the Plan shall be
intended to be an "incentive stock option" as defined in Section 422 of the
Code.

     (b) EXERCISE PRICE. The Board shall establish the exercise price at the
time each Option is granted and specify it in the applicable option agreement.

     (c) DURATION OF OPTIONS. Each Option shall be exercisable at such times and
subject to such terms and conditions as the Board may specify in the applicable
option agreement; provided that Options may not be granted for a term in excess
of ten years.

     (d) EXERCISE OF OPTION. Options may be exercised by delivery to the Company
of a written notice of exercise signed by the proper person or by any other form
of notice (including electronic notice) approved by the Board together with
payment in full as specified in Section 5(e) for the number of shares for which
the Option is exercised.

                                       2

<PAGE>   3

     (e) PAYMENT UPON EXERCISE. Common Stock purchased upon the exercise of an
Option granted under the Plan shall be paid for as follows:

         (1) in cash or by check, payable to the order of the Company;

         (2) except as the Board may, in its sole discretion, otherwise provide
in an option agreement, by (i) delivery of an irrevocable and unconditional
undertaking by a creditworthy broker to deliver promptly to the Company
sufficient funds to pay the exercise price or (ii) delivery by the Participant
to the Company of a copy of irrevocable and unconditional instructions to a
creditworthy broker to deliver promptly to the Company cash or a check
sufficient to pay the exercise price;

         (3) to the extent permitted by the Board, in its sole discretion, by
delivery of shares of Common Stock owned by the Participant valued at their fair
market value as determined by (or in a manner approved by) the Board in good
faith ("Fair Market Value"), provided (i) such method of payment is then
permitted under applicable law and (ii) such Common Stock was owned by the
Participant at least six months prior to such delivery;

         (4) to the extent permitted by the Board, in its sole discretion, by
(i) delivery of a promissory note of the Participant to the Company on terms
determined by the Board, or (ii) payment of such other lawful consideration as
the Board may determine; or

         (5) by any combination of the above-permitted forms of payment.

     (f) DEFERRAL. Any Participant who is a participant in a deferred
compensation plan established by the Company may elect with the permission of
the Board and in accordance with rules established by the Board to defer the
receipt of any shares of Common Stock issuable upon the exercise of an Option
provided that such election is irrevocable and made at least that number of days
prior to the exercise of the Option which shall be determined by the Board. The
Participant's account under such deferred compensation plan shall be credited
with a number of stock units equal to the number of shares so deferred.

6.   RESTRICTED STOCK

     (a) GRANTS. The Board may grant Awards entitling recipients to acquire
shares of Common Stock, subject to the right of the Company to repurchase all or
part of such shares at their issue price or other stated or formula price (or to
require forfeiture of such shares if issued at no cost) from the recipient in
the event that conditions specified by the Board in the applicable Award are not
satisfied prior to the end of the applicable restriction period or periods
established by the Board for such Award (each, a "Restricted Stock Award").

     (b) TERMS AND CONDITIONS. The Board shall determine the terms and
conditions of any such Restricted Stock Award, including the conditions for
repurchase (or forfeiture) and the issue price, if any. Any stock certificates
issued in respect of a Restricted Stock Award shall be

                                       3

<PAGE>   4

registered in the name of the Participant and, unless otherwise determined by
the Board, deposited by the Participant, together with a stock power endorsed in
blank, with the Company (or its designee). At the expiration of the applicable
restriction periods, the Company (or such designee) shall deliver the
certificates no longer subject to such restrictions to the Participant or if the
Participant has died, to the beneficiary designated, in a manner determined by
the Board, by a Participant to receive amounts due or exercise rights of the
Participant in the event of the Participant's death (the "Designated
Beneficiary"). In the absence of an effective designation by a Participant,
Designated Beneficiary shall mean the Participant's estate.

7.   OTHER STOCK-BASED AWARDS

     The Board shall have the right to grant other Awards based upon the Common
Stock having such terms and conditions as the Board may determine, including the
grant of shares based upon certain conditions, the grant of securities
convertible into Common Stock and the grant of stock appreciation rights.

8.   ADJUSTMENTS FOR CHANGES IN COMMON STOCK AND CERTAIN OTHER EVENTS

     (a) CHANGES IN CAPITALIZATION. In the event of any stock split, reverse
stock split, stock dividend, recapitalization, combination of shares,
reclassification of shares, spin-off or other similar change in capitalization
or event, or any distribution to holders of Common Stock other than a normal
cash dividend, (i) the number and class of securities available under this Plan,
(ii) the number and class of securities and exercise price per share subject to
each outstanding Option, (iii) the repurchase price per share subject to each
outstanding Restricted Stock Award, and (iv) the terms of each other outstanding
Award shall be appropriately adjusted by the Company (or substituted Awards may
be made, if applicable) to the extent the Board shall determine, in good faith,
that such an adjustment (or substitution) is necessary and appropriate. If this
Section 8(a) applies and Section 8(c) also applies to any event, Section 8(c)
shall be applicable to such event, and this Section 8(a) shall not be
applicable.

     (b) LIQUIDATION OR DISSOLUTION. In the event of a proposed liquidation or
dissolution of the Company, the Board shall upon written notice to the
Participants provide that all then-unexercised Options will (i) become
exercisable in full as of a specified time at least ten business days prior to
the effective date of such liquidation or dissolution and (ii) terminate
effective upon such liquidation or dissolution, except to the extent exercised
before such effective date. The Board may specify the effect of a liquidation or
dissolution on any Restricted Stock Award or other Award granted under the Plan
at the time of the grant of such Award.

     (c) ACQUISITION EVENTS

         (1) DEFINITION. An "Acquisition Event" shall mean: (a) any merger or
consolidation of the Company with or into another entity as a result of which
the Common Stock is converted into or exchanged for the right to receive cash,
securities or other property or (b) any

                                       4

<PAGE>   5

exchange of shares of the Company for cash, securities or other property
pursuant to a statutory share exchange transaction.

         (2) CONSEQUENCES OF AN ACQUISITION EVENT ON OPTIONS. Upon the
occurrence of an Acquisition Event, or the execution by the Company of any
agreement with respect to an Acquisition Event, the Board may take any one or
more of the following actions:

         (i)   provide that outstanding Options shall be assumed, or equivalent
               options shall be substituted, by the acquiring or succeeding
               corporation (or an affiliate thereof);

         (ii)  upon written notice to the Participants, provide that all then
               unexercised Options will become exercisable in full as of a
               specified time prior to the Acquisition Event and will terminate
               immediately prior to the consummation of such Acquisition Event,
               except to the extent exercised by the Participants before the
               consummation of such Acquisition Event;

         (iii) in the event of an Acquisition Event under the terms of which
               holders of Common Stock will receive upon consummation thereof a
               cash payment for each share of Common Stock surrendered pursuant
               to such Acquisition Event (the "Acquisition Price"), provide that
               all outstanding Options shall terminate upon consummation of such
               Acquisition Event and each Participant shall receive, in exchange
               therefor, a cash payment equal to the amount (if any) by which
               (A) the Acquisition Price multiplied by the number of shares of
               Common Stock subject to such outstanding Options (to the extent
               then exercisable), exceeds (B) the aggregate exercise price of
               such Options; and

         (iv)  provide that all or any outstanding Options shall become
               exercisable in full immediately prior to such event.

         (3) CONSEQUENCES OF AN ACQUISITION EVENT ON RESTRICTED STOCK AWARDS.
Upon the occurrence of an Acquisition Event, the repurchase and other rights of
the Company under each outstanding Restricted Stock Award shall inure to the
benefit of the Company's successor and shall apply to the cash, securities or
other property which the Common Stock was converted into or exchanged for
pursuant to such Acquisition Event in the same manner and to the same extent as
they applied to the Common Stock subject to such Restricted Stock Award.

         (4) CONSEQUENCES OF AN ACQUISITION EVENT ON OTHER AWARDS. The Board
shall specify the effect of an Acquisition Event on any other Award granted
under the Plan at the time of the grant of such Award.

                                       5

<PAGE>   6

9.   GENERAL PROVISIONS APPLICABLE TO AWARDS

     (a) TRANSFERABILITY OF AWARDS. Except as the Board may otherwise determine
or provide in an Award, Awards shall not be sold, assigned, transferred, pledged
or otherwise encumbered by the person to whom they are granted, either
voluntarily or by operation of law, except by will or the laws of descent and
distribution, and, during the life of the Participant, shall be exercisable only
by the Participant. References to a Participant, to the extent relevant in the
context, shall include references to authorized transferees.

     (b) DOCUMENTATION. Each Award shall be evidenced by a written instrument in
such form as the Board shall determine. Each Award may contain terms and
conditions in addition to those set forth in the Plan.

     (c) BOARD DISCRETION. Except as otherwise provided by the Plan, each Award
may be made alone or in addition or in relation to any other Award. The terms of
each Award need not be identical, and the Board need not treat Participants
uniformly.

     (d) TERMINATION OF STATUS. The Board shall determine the effect on an Award
of the disability, death, retirement, authorized leave of absence or other
change in the employment or other status of a Participant and the extent to
which, and the period during which, the Participant, the Participant's legal
representative, conservator, guardian or Designated Beneficiary may exercise
rights under the Award.

     (e) WITHHOLDING. Each Participant shall pay to the Company, or make
provision satisfactory to the Board for payment of, any taxes required by law to
be withheld in connection with Awards to such Participant no later than the date
of the event creating the tax liability. Except as the Board may otherwise
provide in an Award, when the Common Stock is registered under the Exchange Act,
Participants may, to the extent then permitted under applicable law, satisfy
such tax obligations in whole or in part by delivery of shares of Common Stock,
including shares retained from the Award creating the tax obligation, valued at
their Fair Market Value. The Company may, to the extent permitted by law, deduct
any such tax obligations from any payment of any kind otherwise due to a
Participant.

     (f) AMENDMENT OF AWARD. The Board may amend, modify or terminate any
outstanding Award, including but not limited to, substituting therefor another
Award of the same or a different type and changing the date of exercise or
realization, provided that the Participant's consent to such action shall be
required unless the Board determines that the action, taking into account any
related action, would not materially and adversely affect the Participant.
Without intending to limit the generality of the preceding sentence, the Board
may, without amending the Plan, modify Awards granted to Participants who are
foreign nationals or employed outside the United States to reorganize
differences in laws, rules, regulations or customers of such foreign
jurisdiction with respect to tax, securities, currency, employee benefits or
other matters.

                                       6

<PAGE>   7

     (g) CONDITIONS ON DELIVERY OF STOCK. The Company will not be obligated to
deliver any shares of Common Stock pursuant to the Plan or to remove
restrictions from shares previously delivered under the Plan until (i) all
conditions of the Award have been met or removed to the satisfaction of the
Company, (ii) in the opinion of the Company's counsel, all other legal matters
in connection with the issuance and delivery of such shares have been satisfied,
including any applicable securities laws and any applicable stock exchange or
stock market rules and regulations, and (iii) the Participant has executed and
delivered to the Company such representations or agreements as the Company may
consider appropriate to satisfy the requirements of any applicable laws, rules
or regulations.

     (h) ACCELERATION. The Board may at any time provide that any Options shall
become immediately exercisable in full or in part, that any Restricted Stock
Awards shall be free of restrictions in full or in part or that any other Awards
may become exercisable in full or in part or free of some or all restrictions or
conditions, or otherwise realizable in full or in part, as the case may be.

10.  MISCELLANEOUS

     (a) NO RIGHT TO EMPLOYMENT OR OTHER STATUS. No person shall have any claim
or right to be granted an Award, and the grant of an Award shall not be
construed as giving a Participant the right to continued employment or any other
relationship with the Company. The Company expressly reserves the right at any
time to dismiss or otherwise terminate its relationship with a Participant free
from any liability or claim under the Plan, except as expressly provided in the
applicable Award.

     (b) NO RIGHTS AS STOCKHOLDER. Subject to the provisions of the applicable
Award, no Participant or Designated Beneficiary shall have any rights as a
stockholder with respect to any shares of Common Stock to be distributed with
respect to an Award until becoming the record holder of such shares.
Notwithstanding the foregoing, in the event the Company effects a split of the
Common Stock by means of a stock dividend and the exercise price of and the
number of shares subject to such Option are adjusted as of the date of the
distribution of the dividend (rather than as of the record date for such
dividend), then an optionee who exercises an Option between the record date and
the distribution date for such stock dividend shall be entitled to receive, on
the distribution date, the stock dividend with respect to the shares of Common
Stock acquired upon such Option exercise, notwithstanding the fact that such
shares were not outstanding as of the close of business on the record date for
such stock dividend.

     (c) EFFECTIVE DATE AND TERM OF PLAN. The Plan is effective as of December
9, 1998, the date on which it was adopted by the Board (the "Effective Date").
No Awards shall be granted under the Plan after the completion of ten years from
the Effective Date, but Awards previously granted may extend beyond that date.

     (d) AMENDMENT OF PLAN. The Board may amend, suspend or terminate the Plan
or any portion thereof at any time.

                                       7

<PAGE>   8

     (e) GOVERNING LAW. The provisions of the Plan and all Awards made hereunder
shall be governed by and interpreted in accordance with the laws of the State of
Delaware, without regard to any applicable conflicts of law.

                                  Adopted by the Board of Directors on
                                  December 9, 1998

                                  Amended and restated by the Board of
                                  Directors on February 8, 2000

                                       8

<PAGE>   9

                                RSA SECURITY INC.

                                 AMENDMENT NO. 1
                                       TO
                              AMENDED AND RESTATED
                 1998 NON-OFFICER EMPLOYEE STOCK INCENTIVE PLAN

     The RSA Security Inc. Amended and Restated 1998 Non-Officer Employee Stock
Incentive Plan (the "Plan") is hereby amended as set forth below:

          1.  Section 4 of the Plan is hereby amended by deleting the first
              sentence thereof and substituting the following therefor:

              "Subject to adjustment under Section 8, Awards may be made under
              the Plan for up to 5,064,731 shares of common stock, $.01 par
              value per share, of the Company (the "Common Stock")."

          2.  In all other respects, the Plan shall remain in full force and
              effect.

                                      Adopted by the Board of Directors on
                                      April 12, 2000

<PAGE>   10

                                RSA SECURITY INC.

                                 AMENDMENT NO. 2
                                       TO
                              AMENDED AND RESTATED
                 1998 NON-OFFICER EMPLOYEE STOCK INCENTIVE PLAN

      The RSA Security Inc. Amended and Restated 1998 Non-Officer Employee
Stock Incentive Plan, as amended (the "Plan"), is hereby amended as set forth
below:

          1.  Section 4 of the Plan is hereby amended by deleting the first
              sentence thereof and substituting the following therefor:

              "Subject to adjustment under Section 8, Awards may be made under
              the Plan for up to 6,921,581 shares of common stock, $.01 par
              value per share, of the Company (the "Common Stock")."

          2.  In all other respects, the Plan shall remain in full force and
              effect.

                                      Adopted by the Board of Directors on
                                      May 17, 2000

<PAGE>   11

                                RSA SECURITY INC.

                                 AMENDMENT NO. 3
                                       TO
                              AMENDED AND RESTATED
                 1998 NON-OFFICER EMPLOYEE STOCK INCENTIVE PLAN

      The RSA Security Inc. Amended and Restated 1998 Non-Officer Employee
Stock Incentive Plan, as amended (the "Plan"), is hereby amended as set forth
below:

          1.  Section 4 of the Plan is hereby amended by deleting the first
              sentence thereof and substituting the following therefor:

              "Subject to adjustment under Section 8, Awards may be made under
              the Plan for up to 8,021,581 shares of common stock, $.01 par
              value per share, of the Company (the "Common Stock")."

          2.  In all other respects, the Plan shall remain in full force and
              effect.

                                      Adopted by the Board of Directors on
                                      July 12, 2000

<PAGE>   12

                                RSA SECURITY INC.

                                 AMENDMENT NO. 4
                                       TO
                              AMENDED AND RESTATED
                 1998 NON-OFFICER EMPLOYEE STOCK INCENTIVE PLAN

     The RSA Security Inc. Amended and Restated 1998 Non-Officer Employee Stock
Incentive Plan, as amended (the "Plan"), is hereby amended as set forth below:

          1.  Section 4 of the Plan is hereby amended by deleting the first
              sentence thereof and substituting the following therefor:

              "Subject to adjustment under Section 8, Awards may be made under
              the Plan for up to 8,571,581 shares of common stock, $.01 par
              value per share, of the Company (the "Common Stock")."

          2.  In all other respects, the Plan shall remain in full force and
              effect.

                                      Adopted by the Board of Directors on
                                      November 30, 2000

<PAGE>   13

                                RSA SECURITY INC.

                                 AMENDMENT NO. 5
                                       TO
                              AMENDED AND RESTATED
                 1998 NON-OFFICER EMPLOYEE STOCK INCENTIVE PLAN

     The RSA Security Inc. Amended and Restated 1998 Non-Officer Employee Stock
Incentive Plan, as amended (the "Plan"), is hereby amended as set forth below:

          1.  Section 4 of the Plan is hereby amended by deleting the first
              sentence thereof and substituting the following therefor:

              "Subject to adjustment under Section 8, Awards may be made under
              the Plan for up to 9,571,581 shares of common stock, $.01 par
              value per share, of the Company (the "Common Stock")."

          2.  In all other respects, the Plan shall remain in full force and
              effect.

                                      Adopted by the Board of Directors on
                                      January 17, 2001

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