<SUBMISSION>
<ACCESSION-NUMBER>0001206774-08-001622
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20080924
<ITEMS>5.02
<ITEMS>9.01
<FILING-DATE>20080930
<DATE-OF-FILING-DATE-CHANGE>20080930
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ENTERPRISE FINANCIAL SERVICES CORP
<CIK>0001025835
<ASSIGNED-SIC>6022
<IRS-NUMBER>431706259
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0907
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-15373
<FILM-NUMBER>081097010
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>150 NORTH MERAMEC
<STREET2>150 NORTH MERAMEC
<CITY>CLAYTON
<STATE>MO
<ZIP>63105
<PHONE>3147255500
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>150 NORTH MERAMEC
<STREET2>150 NORTH MERAMEC
<CITY>CLAYTON
<STATE>MO
<ZIP>63105
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ENTERBANK HOLDINGS INC
<DATE-CHANGED>19961024
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>enterprise_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>

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<P align=center><B><FONT face=serif size=5><FONT size=3>UNITED
STATES</FONT><BR></FONT></B><B><FONT face=serif size=5><FONT size=3>SECURITIES
AND EXCHANGE COMMISSION</FONT><BR></FONT></B><B><FONT face=serif><FONT size=3>Washington, D.C. 20549</FONT></FONT></B><BR>&nbsp;</P>
<P align=center><B><FONT face=serif size=5>FORM 8-K</FONT></B></P>
<P align=center><B><FONT face=serif>CURRENT REPORT</FONT></B></P>
<P align=center><FONT face=serif size=3><B>Pursuant to Section 13 or 15(d) of
<BR>The Securities Exchange Act of 1934</B></FONT></P>
<P align=center><FONT face=serif size=2>Date of Report (Date of earliest event
reported) <BR>September 24, 2008</FONT></P>
<P align=center><B><FONT face=serif size=6>ENTERPRISE FINANCIAL SERVICES
<BR>CORP <BR></FONT></B><B><FONT face=serif size=1>(Exact name of registrant as
specified in its charter)</FONT></B></P>
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    <TD noWrap align=center width="33%"><FONT size=2><STRONG>Delaware</STRONG></FONT><FONT size=3>&nbsp;</FONT></TD>
    <TD noWrap align=center width="33%"><FONT size=2><STRONG>001-15373</STRONG></FONT><FONT size=3>&nbsp;</FONT></TD>
    <TD noWrap align=center width="33%"><FONT size=2><STRONG>43-1706259</STRONG></FONT><FONT size=3>&nbsp;</FONT></TD></TR>
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    <TD noWrap align=center width="33%"><FONT face=serif><FONT size=1>(State
      or Other Jurisdiction of <BR>Incorporation)</FONT></FONT></TD>
    <TD noWrap align=center width="33%"><FONT size=1>(Commission <BR>File
      Number)</FONT></TD>
    <TD noWrap align=center width="33%"><FONT face=serif><FONT face=serif size=1>(IRS Employer <BR>Identification
No.)</FONT></FONT></TD></TR></TABLE><BR>
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    <TD noWrap align=center width="70%"><FONT face=serif><FONT size=2><STRONG>150 N. Meramec, St. Louis, Missouri</STRONG><BR><FONT size=1>(Address of principal executive offices)</FONT></FONT></FONT></TD>
    <TD noWrap align=center width="29%"><FONT face=serif size=2><STRONG>63105</STRONG><BR><FONT size=1>(Zip
  Code)</FONT></FONT></TD></TR></TABLE><BR>
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    <TD noWrap align=center width="99%"><FONT face=serif size=3>Registrant&#146;s
      telephone number, including area code&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="99%"><B><FONT face=serif size=2>(314)
      725-5500</FONT></B>&nbsp;</TD></TR>
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    <TD width="99%">&nbsp;&nbsp;</TD></TR>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid" align=center width="99%"><FONT face=serif size=2><FONT size=3>Not
      applicable&nbsp;</FONT><FONT size=3></FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="99%"><B><FONT face=serif size=1>(Former
      name or former address, if changed since last
  report)</FONT></B>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=justify><FONT face=serif size=2>Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:</FONT></P>
<P align=justify><FONT face=serif size=2><FONT face=Wingdings>o</FONT>&nbsp;&nbsp;&nbsp; Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P align=justify><B><FONT face=serif size=2></FONT></B><FONT face=serif size=2><FONT face=Wingdings>o</FONT><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></FONT></P>
<P align=justify><B><FONT size=2></FONT></B><FONT size=2><FONT face=Wingdings>o</FONT>&nbsp;&nbsp;&nbsp; Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</FONT></P>
<P align=justify><B><FONT size=2></FONT></B><FONT size=2><FONT face=Wingdings>o</FONT>&nbsp;&nbsp;&nbsp; Pre-commencement communications
pursuant to Rule 13e-4&#169; under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
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    <TD style="BORDER-TOP: #000000 1.5pt solid" width="100%">&nbsp;</TD></TR></TABLE><PAGE><A name=page_2></A>
<P align=left><B><FONT face=serif size=2>Section 5 &#150; Corporate Governance and
Management </FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.
</FONT></B></P>
<P align=justify><B><FONT face=serif size=2>(c) Appointment of New Principal
Executive Officer. </FONT></B><FONT face=serif size=2>On September 24, 2008, the
Board of Directors of EFSC elected Stephen P. Marsh, age 53, as an Executive
Vice President of EFSC. Mr. Marsh will have the general duties, responsibilities
and authority of an Executive Vice President. Mr. Marsh will continue to serve
as the Chairman and Chief Executive Officer of EFSC&#146;s Enterprise Bank &amp;
Trust subsidiary (&#147;Enterprise&#148;). Mr. Marsh has a BA in economics from Creighton
University and a MBA in finance from St. Louis University. Prior to joining
Enterprise in 2003, Mr. Marsh served as president and senior loan officer of
Southwest Bank, where he began his career in 1984. At Southwest, now owned by
Marshall &amp; IIsley Corp. of Milwaukee, Mr. Marsh managed the commercial real
estate department from 1984 to 1992. In 1992, Mr. Marsh was appointed senior
loan officer and in 1999 was named president.</FONT></P>
<P align=justify><B><FONT face=serif size=2>(e) Employment Agreement between
EFSC and Peter F. Benoist. </FONT></B><FONT face=serif size=2>On September 24,
2008, EFSC entered into an employment agreement with Peter F. Benoist (the &#147;New
Employment Agreement&#148;). The New Employment Agreement replaces the prior
employment agreement between EFSC and Mr. Benoist which was entered into on
January 5, 2006. The New Employment Agreement reflects Mr. Benoist&#146;s promotion
to President and Chief Executive Officer on May 1, 2008, and its terms are
retroactive to that date (the &#147;Effective Date&#148;). A copy of the New Employment
Agreement is filed as Exhibit 10.1 to this Form 8-K, which is incorporated
herein by this reference, and the summary below is qualified in its entirety by
reference to the New Employment Agreement. Under the New Employment Agreement,
Mr. Benoist will serve for an initial term lasting from the Effective Date until
December 31, 2013 (the &#147;Initial Term&#148;), with automatic one-year extensions
December 31st of each year unless either party elects not to renew. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Mr.
Benoist will receive an annual base salary of $425,000, with discretionary
increases (and not decreases) (the &#147;Base Salary&#148;) based on an annual review by
the Compensation Committee of the Board of Directors of EFSC (the &#147;Committee&#148;).
Mr. Benoist will be entitled to receive a targeted annualized cash bonus
opportunity equal to 36% to 70% of the Base Salary in effect at the beginning of
the applicable year in the event that EFSC meets certain targeted financial and
operating goals established by the Committee for that calendar year.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Each year
during the Initial Term, at such time as grants are made under EFSC&#146;s 2005 Long
Term Incentive Compensation Plan (or a successor plan) (the &#147;Plan&#148;), Mr. Benoist
will be entitled to receive a grant of dollar-denominated restricted stock units
(&#147;RSUs&#148;) that confer to Mr. Benoist a contingent right to receive an award of a
number of shares of restricted common stock in EFSC based on EFSC achieving
certain performance goals over a successive three year period as established by
the Committee. Such grants will initially be unvested and will vest on an annual
basis over a subsequent period of five years subject to Mr. Benoist&#146;s continuing
and uninterrupted employment with EFSC in accordance with the Plan. For the year
2008, Mr. Benoist will receive a grant of RSUs in the amount of
$336,000.</FONT></P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Mr.
Benoist also received 50,000 stock settled appreciation rights (&#147;SSAR&#146;s&#148;) on
September 24, 2008 giving him the right to common stock of EFSC equal in value
to the appreciation in market prices of EFSC&#146;s common stock from the date of the
grant of the SSAR&#146;s on September 24, 2008 to the date of the exercise thereof.
The provisions of the SSAR&#146;s, including the provisions for vesting over three
years, were made in accordance with EFSC&#146;s 2002 Stock Incentive Plan (as
amended) and have substantially the same terms as the SSAR&#146;s previously granted
to other employees of EFSC. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>During
the term of his employment, Mr. Benoist will be entitled to participate in all
regular employee benefit and deferred compensation plans established by either
EFSC or Enterprise. EFSC will also provide Mr. Benoist with term life insurance
and supplemental disability income insurance. Mr. Benoist will also be entitled
to participate in any other long-term executive incentives in which other EFSC
senior executives participate. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Under the
terms of the New Employment Agreement, EFSC has the right to terminate Mr.
Benoist&#146;s employment upon prior written notice for cause, without cause, for
reason of disability or upon death. In the event Mr. Benoist is terminated by
EFSC for cause, death or disability, or Mr. Benoist elects to voluntarily
terminate the New Employment Agreement, EFSC will not be obligated to pay any
severance benefits. Mr. Benoist will be entitled to severance compensation if
EFSC effects a Termination Other Than For Cause (as defined in the Employment
Agreement) or Mr. Benoist is terminated in a Termination Upon a Change in
Control (as defined in the Employment Agreement).</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The New
Employment Agreement contains restrictive covenants prohibiting Mr. Benoist from
competing with EFSC during the term of his employment and a period of one year
thereafter within the Metropolitan Statistical Areas of St. Louis, Kansas City
or any other city in which EFSC or its affiliates has an office as of the time
of Mr. Benoist&#146;s termination. The New Employment Agreement also prohibits Mr.
Benoist from soliciting employees and certain customers of EFSC or any of its
affiliates. In addition, confidentiality provisions in the New Employment
Agreement prohibit the use or disclosure of confidential information.
</FONT></P>
<P align=left><B><FONT face=serif size=2>Section 9 &#150; Financial Statements and
Exhibits </FONT></B></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>Item 9.01 Financial
Statements and Exhibits. </STRONG></FONT></P>
<P align=left><B><FONT face=serif size=2>(a) Not
applicable.<BR></FONT></B><B><FONT face=serif size=2>(b) Not applicable.<BR>(c)
Not applicable.<BR>(d) Exhibits. </FONT></B></P>
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<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Exhibit No.
</FONT></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>10.1 Form of Executive Employment Agreement by and between EFSC and Peter
F. Benoist. </FONT></P>
<P align=left>&nbsp;</P>
<P align=center><B><FONT face=serif size=2>SIGNATURES</FONT></B></P>
<P align=justify><FONT face=serif size=2>Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly authorized.
</FONT></P>
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    <TD noWrap align=left width="50%">&nbsp;</TD>
    <TD noWrap align=left width="50%" colSpan=2><FONT size=2>ENTERPRISE
      FINANCIAL SERVICES CORP.</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%">&nbsp; </TD>
    <TD noWrap align=left width="50%" colSpan=2><FONT size=2>By:</FONT>&nbsp;
    </TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"><FONT face=serif size=2>Date:<FONT size=3>&nbsp; </FONT>September 30, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="49%"><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>/s/ Deborah N. Barstow</FONT>&nbsp;
    </TD></TR>
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    <TD noWrap align=left width="50%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT>--------------------------------------------------</FONT>&nbsp;
  </TD></TR>
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    <TD noWrap align=left width="50%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face=serif size=2>Deborah N.
      Barstow</FONT>&nbsp; </TD></TR>
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    <TD noWrap align=left width="50%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face=serif size=2>Senior Vice
      President and Controller</FONT>&nbsp; </TD></TR></TABLE><BR>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit10-1.htm
<DESCRIPTION>FORM OF EXECUTIVE EMPLOYMENT AGREEMENT BY AND BETWEEN EFSC
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<P align=right><B><FONT face=serif size=2>Exhibit 10.1 </FONT></B></P>
<P align=center><B><FONT face=serif size=2>ENTERPRISE FINANCIAL SERVICES
CORP.<BR>EXECUTIVE EMPLOYMENT AGREEMENT </FONT></B></P>
<P align=left><B><FONT face=serif size=2>THIS EXECUTIVE EMPLOYMENT
AGREEMENT</FONT></B><FONT face=serif size=2> ("Agreement"), is made by and
between </FONT><B><FONT face=serif size=2>PETER F. BENOIST</FONT></B><FONT face=serif size=2> (the "Executive") and </FONT><B><FONT face=serif size=2>ENTERPRISE FINANCIAL SERVICES CORP</FONT></B><FONT face=serif size=2>, a
Delaware corporation (the "Company"), on this 24th day of September, 2008 (the
"Execution Date") to be effective as of May 1, 2008 (the "Effective Date").
</FONT></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>WITNESSETH: </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>WHEREAS,
Executive was elected by the Board of Directors of the Company to serve as the
Company's President and Chief Executive Officer, and the Company desires to
continue to employ Executive on the terms, covenants and conditions hereinafter
set forth in this Agreement. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>NOW,
THEREFORE, for the reasons set forth above, and in consideration of the mutual
promises and agreements set forth in this Agreement, the Company and Executive
agree as follows: </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>1.
</FONT></B><B><U><FONT face=serif size=2>Employment</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>Subject to the terms and
conditions set forth in this Agreement, the Company hereby employs Executive for
the Employment Term as hereafter defined.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>1.1 </FONT></B><B><U><FONT face=serif size=2>Title and
Duties</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>During the Employment Term, Executive shall serve as the President and
Chief Executive Officer of the Company 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 &#147;Board&#148;) of the
Company may from time to time specify to the extent that such other duties are
consistent with such corporate office and position. Without limiting the
foregoing, if elected or appointed, Executive shall hold such offices and serve
on the Board of Directors of Affiliates of the Company as determined by the
Company, without any additional compensation for additional services rendered in
such capacities. Executive shall comply with all policies and procedures of the
Company and its Affiliates generally applicable to executive
employees.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>1.2 </FONT></B><B><U><FONT face=serif size=2>Location</FONT></U></B><B><FONT face=serif size=2>.</FONT></B><FONT face=serif size=2> The duties and responsibilities Executive is to perform under
this Agreement shall be applicable to any location at which the Company or its
Affiliates may be conducting business during the Employment Term. Executive may
be required from time to time to perform his duties on an occasional basis at
such other places as the CEO or the Board shall designate or as the interests or
business opportunities of the Company and its Affiliates may require; provided,
however, that without Executive&#146;s consent, the Executive shall not be required
to relocate his primary residence from the St. Louis, Missouri metropolitan
area.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>1.3</FONT></B><FONT face=serif size=2> </FONT><B><U><FONT face=serif size=2>Acceptance and Devotion to Duties</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>Executive hereby accepts
such employment and 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 and
its Affiliates; provided, however, Executive shall be permitted to engage in
civic and charitable activities and personal financial matters to the extent
that such activities do not conflict with or interfere with Executive&#146;s
performance of his duties under this Agreement. Executive will use his best good
faith efforts to promote the success of the business of the Company and its
Affiliates, and will cooperate fully with the Board of the Company and its
Affiliates in the advancement of their best interests. If elected, Executive
will agree to serve as a member of the Board of the Company and its Affiliates,
without additional compensation.</FONT></P>
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<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>2.
</FONT></B><B><U><FONT face=serif size=2>Term of
Employment</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>Except as otherwise provided herein, the initial term of
Executive's employment shall be for a period commencing on the Effective Date
and ending on December 31, 2013 (the &#147;Initial Term&#148;). The term of Executive's
employment shall be automatically extended for successive one (1) year periods
beginning on January 1 and ending on December 31 (each a &#147;Renewal Term&#148;) upon
the same provisions for Base Salary and Targeted Bonus (as provided below)
unless either the Company or Executive provides written notice (&#147;Non-Renewal
Notice&#148;) to the other party at least ninety (90) days prior to the expiration of
the Initial Term or then current Renewal Term, as applicable, that the term of
this Agreement will not be renewed. The term during which Executive is an
employee of the Company, including any Renewal Term, is referred to as the
&#147;Employment Term.&#148; Notwithstanding the expiration of the Employment Term or such
later termination of Executive's employment with the Company, the obligations of
Executive under Sections 7, 8 and 9 of this Agreement shall survive the
termination of Executive&#146;s employment with the Company and its
Affiliates.</FONT></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>3. </STRONG></FONT><U><FONT face=serif size=2><STRONG>Compensation of Executive</STRONG></FONT></U><FONT face=serif size=2>. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>3.1 </FONT></B><B><U><FONT face=serif size=2>Base
Salary</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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 at
the rate of $425,000.00 per year (the "Base Salary") commencing and retroactive
to the Effective Date. 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.
</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>3.2 </FONT></B><B><U><FONT face=serif size=2>Targeted
Bonus</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>In addition to the compensation set forth elsewhere in this Section 3,
for each year during the Employment Term, the Executive shall qualify for a
targeted annualized bonus (&#147;Targeted Bonus&#148;) based upon meeting established
targeted goals with respect to the Company and/or its Affiliates.</FONT></P>
<P align=left>
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    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="99%">
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(a) No later than the Company&#146;s January Board meeting in
      2009 and in each subsequent year during the Employment Term, the Board or
      the Compensation Committee of the Board ("Committee") to which such
      authority has been delegated shall establish (in consultation with the
      Executive) certain targeted financial and operating goals (&#147;Bonus
      Objectives&#148;) for that calendar year, which may include specific goals such
      as consolidated return on equity, asset quality and performance of the
      Company's wealth management services and/or specific goals for Affiliates
      of the Company. </FONT><FONT face=serif size=2>Performance Levels will be
      set at Threshold, Target and Exceptional for each Bonus Objective, and the
      Board or the Committee shall designate (in consultation with the
      Executive) what portion of the total Targeted Bonus shall be associated to
      the achievement of each Bonus Objective and the requisite Performance
      Level for each Bonus Objective. The established financial Bonus Objectives
      shall be consistent with the financial plan for the Company and its
      Affiliates as adopted by the Board and/or the respective board or
      management of the Company's
Affiliates.</FONT></P></TD></TR></TABLE><FONT size=2></FONT>
<P align=center><FONT size=2>2<FONT face=serif> <BR><BR></FONT></FONT>
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    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
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      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2>(b) Within 75 days after the end of each calendar year (beginning
      with 75 days following calendar year 2008), the Board or the Committee
      shall make a good faith determination as to the extent to which
      Performance Levels for each Bonus Objective have been met for the
      preceding calendar year.</FONT></P>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(c) For each year during the Employment Term, Executive
      shall be entitled to a Targeted Bonus of 36% of the then applicable Base
      Salary for the year for overall performance at Threshold, 53% of the then
      applicable Base Salary for the year for overall performance at Target and
      no less than 70% of the then applicable Base Salary for the year for
      overall performance at Exceptional as determined by the Board or the
      Committee. The amount of Targeted Bonus applicable for any year shall be
      interpolated on a straight line basis for performance between Threshold
      and Target, and for performance above Target the amount of Targeted Bonus
      shall be interpolated on a straight line basis between Target and
      Exceptional. No Targeted Bonus shall be due for performance below
      Threshold. Executive shall also be eligible to receive such other bonuses
      or incentive payments as may be approved by the Board (or the Committee to
      which the Board has delegated such authority).</FONT></P>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(d) For the 2008 fiscal year of the Company, Executive
      shall receive a Targeted Bonus of $223,333 upon achieving a Performance
      Level for 2008 at Target, $157,000 upon achieving a Performance Level for
      2008 at Threshold and $292,500 upon achieving a Performance Level for 2008
      at Exceptional. The amount of Targeted Bonus applicable for the 2008
      fiscal year for performance shall be interpolated on a straight line basis
      for performance between Threshold and Target, and for performance above
      Target the amount of Targeted Bonus shall be interpolated on a straight
      line basis between Target and
Exceptional.</FONT></P></TD></TR></TABLE>
<P align=left><FONT face=serif size=2></FONT></P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>3.3 </FONT></B><B><U><FONT face=serif size=2>Benefits</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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 &#147;Code&#148;)) 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 </FONT><FONT face=serif size=2>Employment Term, provided that any vacation not used in any year shall be
forfeited and not carried over to any subsequent year. In addition to the
foregoing benefits, the Company agrees (i) to provide during the Employment Term
aggregate term insurance on Executive&#146;s life equal to $1,000,000 payable to a
beneficiary designated by Executive, provided that Executive qualifies for such
coverage at normal published premium rates, and (ii) to provide (or reimburse
Executive with respect to) supplemental disability income insurance such that
the total combined disability income coverage available to employee from the
Company and under policies maintained by Executive on which the Company
</FONT><FONT face=serif size=2>reimburses Executive for the premiums is equal to
$25,000 per month until Executive&#146;s 65<SUP>th</SUP> birthday. Executive agrees
that the cost of the foregoing supplemental insurance benefits shall constitute
taxable benefits and be subject to such withholding taxes as may be required by
law. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>3.4 </FONT></B><B><U><FONT face=serif size=2>Reimbursement of
Expenses</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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. </FONT></P>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>3</FONT><FONT face=serif size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>3.5 </FONT></B><B><U><FONT face=serif size=2>Annual
Review.</FONT></U></B><FONT face=serif size=2> The Committee shall, no less than
annually, review the amount of Base Salary, Targeted Bonus, restricted stock
units, and stock options awarded to Executive, and shall make recommendations to
the Board for any changes in those regards which it deems appropriate.
</FONT></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>4.
</STRONG></FONT><STRONG><U><FONT face=serif size=2>Long Term
Incentives</FONT></U><FONT face=serif size=2>. </FONT></STRONG></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>4.1 </FONT></B><B><U><FONT face=serif size=2>Grants of
RSU&#146;s</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>Each year during the Initial Term, at such time as grants are made under
the Company&#146;s 2005 Long Term Incentive Compensation Plan ("Plan") and any
subsequently adopted long-term incentive compensation plan, Executive shall be
entitled to receive a grant of dollar-denominated restricted stock units
("RSUs"), in such amount as determined annually by the Committee, which confer
to Executive a contingent right to receive an award of a number of shares of
restricted common stock in the Company ("Restricted Stock") at the expiration of
a three (3) year performance period established by the Committee. The number of
shares of Restricted Stock awarded under each such grant will be based on and
subject to the Company meeting applicable performance standards as provided
under the agreements or resolutions governing the RSUs. The shares of Restricted
Stock which may be awarded to Executive as a result of granted RSUs will
initially be unvested and will vest on an annual basis over a period five (5)
years subject to Executive's continuing and uninterrupted employment with the
Company in accordance with the Plan. In all respects, the Plan and the
agreements providing for the grant of RSUs shall control the amount, manner,
vesting and all other matters regarding the RSUs. For the year 2008, Executive
shall receive a grant of dollar-denominated RSU's of $336,000 under the
Company's Plan, inclusive of the grant previously made to Executive prior to the
Execution Date for the year 2008.</FONT></P>
<P align=left><FONT face=serif size=2></FONT><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>4.2
</STRONG></FONT><STRONG><U><FONT face=serif size=2>Special Grant of
SSAR's</FONT></U><FONT face=serif size=2>. </FONT></STRONG><FONT face=serif size=2>Upon the Execution Date, the Company shall grant Executive 50,000 stock
settled appreciation rights ("SSAR's), each of which will give the Executive the
right to common stock in the Company equal in value to the appreciation in
market price of the Company's common stock from the date of the grant of the
SSAR's to the date of the exercise in accordance with the grant. The provisions
of such SSAR's, including the provisions for vesting over three years, shall be
in accordance with the Company's 2002 Stock Incentive Plan (as amended) and
shall have substantially the same terms as the SSAR's previously granted to
employees of the Company. Such grant of SSAR's shall be documented in a Grant
Agreement, which has been executed by the Company and the Executive
simultaneously with the execution of this Agreement. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>4.3 </FONT></B><B><U><FONT face=serif size=2>Discretionary
Additional Grants</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>Executive may receive additional grants of incentive
compensation in the form of contingent rights to equity in the Company as
determined by the Board or the Committee under their discretion, under the terms
of the Company's 2002 Stock Incentive Plan as adopted and/or amended by the
Company from time to time.</FONT><B><FONT face=serif size=2> </FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>4.4 </FONT></B><B><U><FONT face=serif size=2>Vesting Upon
Change in Control</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>In the event of a Change in Control, all unvested stock
options, Restricted Stock, RSU's and SSAR&#146;s (if any) shall immediately become
fully vested in accordance with the respective terms of such awards; </FONT></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>5.
</STRONG></FONT><STRONG><U><FONT face=serif size=2>Termination of
Employment</FONT></U><FONT face=serif size=2>. </FONT></STRONG></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>5.1 </FONT></B><B><U><FONT face=serif size=2>Termination for
Cause</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>"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.</FONT></P>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>4</FONT><FONT face=serif size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE><BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="99%"><FONT size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(a)
      Upon Termination for Cause, Executive shall immediately be paid (i) all
      accrued salary, (ii) bonus compensation to the extent earned and payable,
      (iii) 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), (iv) any accrued benefits under any plans
      of the Company in which the Executive is a participant to the full extent
      of the Executive&#146;s rights pursuant to the provisions of such plans, (v)
      unused accrued vacation pay for the year in which termination occurs, and
      (vi) any appropriate business expenses incurred by Executive reimbursable
      by the Company in accordance with this Agreement, all to the date of
      termination. (The items described in subparagraphs (i) through (vi) in
      this Section 5.1(a) are hereafter collectively referred to as "Accrued
      Compensation".) Upon a Termination for Cause, Executive shall not be paid
      any other compensation or reimbursement of any kind, including without
      limitation, Severance Compensation.</FONT>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(b) "Termination for Cause" shall mean termination by
      the Company of Executive's employment by the Company by reason of (i) an
      order of any federal or state regulatory authority having jurisdiction
      over the Company or any of its Affiliates which has the effect in the
      opinion of the Board to limit the scope of Executive's duties or otherwise
      inhibits Executive from performing his duties pursuant to this Agreement,
      (ii) the willful failure of Executive substantially to perform his duties
      hereunder (other than any such failure due to Executive&#146;s physical or
      mental illness); (c) a breach by Executive of any material provision of
      this Agreement or of any other written agreement with the Company or any
      of its Affiliates; (ii) Executive&#146;s commission of a crime that constitutes
      a felony or other crime of moral turpitude or criminal fraud; or (iv)
      chemical or alcohol dependency which materially and adversely affects
      Executive's performance of his duties under this Agreement; (v) 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;
      (vi) misappropriation (or attempted misappropriation) of any of the
      Company&#146;s funds or property. If subsequent to Executive&#146;s termination of
      employment hereunder for other than Cause it is determined in good faith
      by the Company that Executive&#146;s employment could have been terminated for
      Cause hereunder, Executive&#146;s employment shall be deemed to have been
      terminated for Cause retroactively to the date the events giving rise to
      Cause occurred. </FONT></P></TD></TR></TABLE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>5.2 </FONT></B><B><U><FONT face=serif size=2>Termination Other
Than for Cause</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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.</FONT></P>
<P align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="99%">
      <P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(a)
      Upon any Termination Other Than for Cause, all payments and benefits set
      forth in this Section 5.2 and Section 6.2 (other than pension plan or
      profit sharing plan benefits which will be paid in accordance with the
      applicable plan), shall be subject to and conditioned upon Executive's
      compliance with the terms, provisions and conditions contained in this
      Agreement and shall be subject to and conditioned upon Executive&#146;s
      execution of a release and waiver of all claims with respect to
      Executive&#146;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 Section 6.2
      </FONT></P>
      <P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT face=serif size=2>(b) Executive shall within 30 days after such
      Termination Other Than For Cause be paid all Accrued Compensation,
      together with Severance Compensation as provided in Section
      6.2.</FONT></FONT></P>
      <P align=left><FONT face=serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT face=serif size=2>(c) &#147;Termination Other Than for Cause&#148; shall
      mean</FONT></P></TD></TR></TABLE>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>5</FONT><FONT face=serif size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE><BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="99%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(i) any termination by the Company of Executive&#146;s
      employment with the Company other than a Termination for Cause (as defined
      in Section 5.1), a Termination by Reason of Disability (as defined in
      Section 5.3), a termination on account of death (as described in Section
      5.4), a Voluntary Termination (as defined in Section 5.5) or a Termination
      Upon a Change of Control (as defined in Section 5.6), or</FONT>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(ii) a termination by Executive of Executive&#146;s
      employment with the Company by reason of a Constructive Termination. As
      used herein, "Constructive Termination" means the termination of
      Executive's employment by the Executive by reason of (A) the Company&#146;s
      material breach of this Agreement. which remains uncured for a period of
      thirty (30) days following Executive's notice of such breach given to the
      Company, (B) 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, following notice by Executive of his refusal to
      consent to such position, responsibilities or duties (which must be given
      within thirty (30) days of such assignment) and the Company's refusal to
      modify such position or responsibility so that it is no longer of lesser
      status or degree of responsibility than his position, responsibilities or
      duties as of the Effective Date (C) the requirement by the Company that
      Executive's primary residence be based anywhere other than the St. Louis,
      Missouri metropolitan area, without Executive&#146;s consent,. or (D) 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 to the Board
      without Executive&#146;s consent.</FONT></P>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(iii) any termination of Executive's employment pursuant
      to this Agreement effectuated by the Company giving a Non-Renewal Notice
      pursuant to Section 2 for reasons that do not constitute
      "Cause".</FONT></P></TD></TR></TABLE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>5.3 </FONT></B><B><U><FONT face=serif size=2>Termination by
Reason of Disability</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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&#146;s employment hereunder by written
notification to Executive ("Termination by Reason of Disability"). Upon such
Termination by Reason of Disability, the Company shall pay to Executive all
Accrued Compensation (as defined in Section 5.1), but Executive shall not be
paid any other compensation or reimbursement of any kind, including without
limitation, Severance Compensation. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>5.4 </FONT></B><B><U><FONT face=serif size=2>Death</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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. </FONT></P>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>6</FONT><FONT face=serif size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>5.5 </FONT></B><B><U><FONT face=serif size=2>Voluntary
Termination</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>As used herein, &#147;Voluntary Termination&#148; means the effectuation
of a Non-Renewal Notice by Executive as provided in Section 2 or the termination
by Executive of Executive&#146;s employment with the Company or its Affiliates other
than by reason of a Constructive Termination (as defined in Section 5.2(c)
(ii)), Termination by Reason of Executive&#146;s Disability (as described in Section
5.3), or Termination by Reason of Executive&#146;s Death (as described in subsection
5.4). In the event of a Voluntary Termination, 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 Compensation, but no other compensation or reimbursement of any kind,
including without limitation, Severance Compensation.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>5.6 </FONT></B><B><U><FONT face=serif size=2>Termination Upon
a Change in Control</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>&#147;Termination Upon a Change in Control&#148; shall mean a
Termination Other Than For Cause occurring within three (3) months prior to and
in contemplation of a Change of Control, or within one (1) year following a
Change in Control. In the event of a Termination Upon a Change in Control,
Executive shall be paid all Accrued Compensation. In addition, subject to the
conditions set forth in Section 6.1, Executive shall be entitled to Severance
Compensation as provided in Section 6.1.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>5.7 </FONT></B><B><U><FONT face=serif size=2>Resignation Upon
Termination</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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.</FONT></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>6.
</STRONG></FONT><STRONG><U><FONT face=serif size=2>Severance
Compensation</FONT></U><FONT face=serif size=2> </FONT></STRONG></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>6.1 </FONT></B><B><U><FONT face=serif size=2>Termination Upon
Change in Control</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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: </FONT></P>
<P align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="99%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(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.</FONT>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(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. </FONT></P></TD></TR></TABLE>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>7</FONT><FONT face=serif size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE><BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="99%">
      <P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(c)
      All restricted stock granted to Executive will vest and become
      transferable. </FONT></P>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(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 then current 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.
</FONT></P></TD></TR></TABLE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>6.2 </FONT></B><B><U><FONT face=serif size=2>Termination Other
Than for Cause</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>In the event Executive's employment is terminated in a
Termination Other Than for Cause, Executive shall be paid as Severance
Compensation (i) his Base Salary, at the rate payable at the time of such
termination, for the one year period commencing on the effective date of such
termination plus (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 at Target.
Notwithstanding any provision in this subsection 6.2 to the contrary, the
Company may, in the Company&#146;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
</FONT><U><FONT face=serif size=2>The Wall Street Journal</FONT></U><FONT face=serif size=2>, 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.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>6.3 </FONT></B><B><U><FONT face=serif size=2>Termination Upon
Any Other Event</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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.
</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>7.
</FONT></B><B><U><FONT face=serif size=2>Confidentiality</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>Executive agrees to hold
in strict confidence all non-public information concerning any matters affecting
or relating to the business of the Company and its Affiliates, 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
any Person other 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 </FONT></P>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>8</FONT><FONT face=serif size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=left><FONT face=serif size=2>information confidentially. Upon the
Company's request, Executive shall return all information furnished to him
related to the business of the Company and its Affiliates 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 or its Affiliates; (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. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>8.
</FONT></B><B><U><FONT face=serif size=2>Use of Proprietary
Information</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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,
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 or its
Affiliate's time, materials or other resources, shall be promptly disclosed to
the Company and shall become the exclusive property of the Company. </FONT></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>9.
</STRONG></FONT><STRONG><U><FONT face=serif size=2>Restrictive
Covenants</FONT></U><FONT face=serif size=2>. </FONT></STRONG></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>9.1 </FONT></B><B><U><FONT face=serif size=2>Non-Competition</FONT></U></B><B><FONT face=serif size=2>.
</FONT></B><FONT face=serif size=2>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 its Affiliates) any Person engaged
in the operation, ownership or management of a bank, trust company, wealth
management 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.
</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>9.2 </FONT></B><B><U><FONT face=serif size=2>Non-Solicitation
of Employees</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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 or any of its Affiliates to leave such employ, or employ any such
person in any business similar to or in competition with that of the
Company.</FONT></P>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>9</FONT><FONT face=serif size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=left><FONT face=serif size=2>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.</FONT></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>9.3
</STRONG></FONT><STRONG><U><FONT face=serif size=2>Non-Solicitation of Protected
Customers</FONT></U><FONT face=serif size=2>. </FONT></STRONG></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="99%"><FONT size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(a)
      As used herein, "Protected Customer" means (i) any Person or its/his/her
      Affiliate for whom the Company or any of its Affiliates has provided
      wealth management, investment, banking, trust, insurance or other
      financial services during a period of one (1) year prior to the
      termination of Executive's employment with the Company and its Affiliates
      or (ii) any Person or its/his/her Affiliate whom the Company or or any of
      its Affiliates had made a proposal to provide wealth management,
      investment, banking, trust, insurance or other financial services at
      anytime within six (6) months preceding the termination of Executive's
      employment with the Company and its Affiliates. </FONT>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(b) As used herein, "Non-Solicitation Period" means the
      period of Executive's employment by the Company or its Affiliates and a
      period of two (2) years following the date of such termination of
      Executive's employment with the Company and/or its Affiliates. </FONT></P>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(c) During the Non-Solicitation Period, Executive shall
      not, directly or indirectly, whether alone or in association, or
      combination with any other Person, or as an officer, director,
      shareholder, member, manager, employee, agent, independent contractor,
      consultant, advisor, joint-venturer, partner or otherwise, and whether or
      not for pecuniary benefit: </FONT></P>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(i) solicit, take away, attempt to take away, divert, or
      attempt to divert any Protected Customer from the Company or its
      Affiliates; or </FONT></P>
      <P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(ii)
      induce, attempt to induce or aid any Person in inducing any Protected
      </FONT></P>
      <P align=left><FONT face=serif size=2>Customer to cease doing business
      with the Company or any of its Affiliates, or in any way interfere with
      the relationship between any Protected Customer and the Company or any or
      its Affiliates. </FONT></P>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(d) During the Non-Solicitation Period, Executive shall
      not be employed by or act as a consultant for any Person which directly,
      or through any of its Affiliates, solicits, takes away, attempts to take
      away, diverts, or attempts to divert any Protected Customer from the
      Company or any of its Affiliates. Before Executive becomes employed by or
      becomes a consultant for a Person during a Non-Solicitation Period,
      Executive shall inform such Person of the provisions of this Section 9.2
      and shall cause such Person to sign a document acknowledging this
      provision and agreeing with the Company, on behalf of itself and its
      Affiliates, to abide to the terms of such obligation to not solicit, take
      away, attempt to take away divert or attempt to divert any Protected
      Customer, and deliver such document to the Company.</FONT></P>
      <P align=left><FONT face=serif size=2></FONT></P>
      <P align=left><FONT face=serif size=2></FONT></P></TD></TR></TABLE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>9.3 </FONT></B><B><U><FONT face=serif size=2>Saving
Provision</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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. </FONT></P>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>10</FONT><FONT face=serif size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>9.4 </FONT></B><B><U><FONT face=serif size=2>Equitable
Relief</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>10.
</FONT></B><B><U><FONT face=serif size=2>Assignment</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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 substantially all the
Company&#146;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&#146;s duties and responsibilities hereunder for
the Company. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>11.
</FONT></B><B><U><FONT face=serif size=2>Indemnification</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>12.
</FONT></B><B><U><FONT face=serif size=2>Entire Agreement</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>This Agreement and any
agreements entered into after the date hereof under any of the Company&#146;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. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>13.
</FONT></B><B><U><FONT face=serif size=2>Binding
Agreement</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>14.
</FONT></B><B><U><FONT face=serif size=2>Modification</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>15.
</FONT></B><B><U><FONT face=serif size=2>Severability</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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. </FONT></P>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>11</FONT><FONT face=serif size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>16.
</FONT></B><B><U><FONT face=serif size=2>Manner of Giving
Notice</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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: </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="49%" colSpan=2><U><FONT face=serif size=2>To
      Company</FONT></U><FONT face=serif size=2>:</FONT>&nbsp; </TD>
    <TD noWrap align=left width="49%"><FONT face=serif size=2><U>To
      Executive</U> at his current&nbsp; </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%" colSpan=2><FONT face=serif size=2>Enterprise Financial Services Corp</FONT>&nbsp; </TD>
    <TD noWrap align=left width="49%"><FONT face=serif size=2>residential
      address on file with</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%" colSpan=2><FONT face=serif size=2>150
      North Meramec</FONT>&nbsp; </TD>
    <TD noWrap align=left width="49%"><FONT face=serif size=2>the
      Company.</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="49%" colSpan=2><FONT face=serif size=2>Clayton, Missouri 63105</FONT>&nbsp; </TD>
    <TD noWrap align=left width="49%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"><FONT face=serif size=2>Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> </TD>
    <TD noWrap align=left width="47%"><FONT face=serif size=2>Chairman of the
      Board</FONT>&nbsp; </TD>
    <TD noWrap align=left width="49%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%">&nbsp; </TD>
    <TD noWrap align=left width="47%"><FONT face=serif size=2>and Corporate
      Secretary</FONT>&nbsp; </TD>
    <TD noWrap align=left width="49%">&nbsp; </TD></TR></TABLE><BR>
<P align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="99%">
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>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.</FONT></P></TD></TR></TABLE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>17.
</FONT></B><B><U><FONT face=serif size=2>Remedies</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>18.
</FONT></B><B><U><FONT face=serif size=2>Headings</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>19.
</FONT></B><B><U><FONT face=serif size=2>Choice of Law</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>20.
</FONT></B><B><U><FONT face=serif size=2>Taxes</FONT></U></B><FONT face=serif size=2>. Any payments or other remuneration provided by the Company to Executive
in connection with this Agreement or Executive's employment by the Company or
its Affiliates shall be subject to reduction, reimbursement or payment to the
Company by the Executive, for any amount of applicable federal, state or local
taxes, including but not limited to income, employment and social insurance
taxes, unemployment taxes, medical insurance taxes, and any other withholdings
required by law or authorized by Executive.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>21.
</FONT></B><B><U><FONT face=serif size=2>Voluntary Agreement; No
Conflicts</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>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&#146;s obligations pursuant to such employment, and that the
complete performance of the obligations pursuant to Executive&#146;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&#146;s employment with the
Company, any information obtained in Executive&#146;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.</FONT></P>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>12</FONT><FONT face=serif size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><FONT face=serif size=2>22.
</FONT></B><B><U><FONT face=serif size=2>409A</FONT></U></B><B><FONT face=serif size=2>. </FONT></B><FONT face=serif size=2>In the event that it is reasonably
determined by the Company that, as a result of the deferred compensation tax
rules under Section 409A of the Internal Revenue Code of 1985 as amended and any
related regulations or other pronouncements thereunder (the Deferred
Compensation Tax Rules"), remuneration </FONT>that Executive is entitled to
under the terms of this Agreement may not be made at the time contemplated by
the terms hereof without causing the Executive to be subject to tax under the
Deferred Compensation Tax Rules, the Company may, in lieu of providing such
remuneration when otherwise due under this Agreement, instead provide such
remuneration within ten (10) days following the first day on which such
provision would not result in Executive incurring any tax liability under the
Deferred Compensation Tax Rules. Notwithstanding the provisions of this Section
22, the Company has no responsibility or obligation to Executive with respect to
any tax that may be incurred by Executive pursuant to Deferred Compensation Tax
Rules. </FONT></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>23.
</STRONG></FONT><STRONG><U><FONT face=serif size=2>Certain
Definitions</FONT></U><FONT face=serif size=2>. </FONT></STRONG><FONT face=serif size=2>As used herein, the following definitions shall apply: </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT face=serif size=2>"Affiliate</FONT></U><FONT face=serif size=2>&#148; 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.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT face=serif size=2>"Change in Control"</FONT></U><FONT face=serif size=2> shall
mean any of the following occurrences, and shall be deemed to occur the date on
which any of the following has occurred: </FONT></P>
<P align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="99%">
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2> (i) any Person or group (other than the Company or any
      of its Affiliates, a trustee or other fiduciary holding securities of the
      Company under an employee benefit plan of the Company or any one or more
      of the Company's directors as of the Effective Date of this Agreement)
      becomes the beneficial owner of securities of the Company representing 50%
      or more of the combined voting power of the Company's then-outstanding
      securities (the &#147;Company Outstanding Voting Securities&#148;); </FONT></P>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2> (b) any Person (other than the Company or any of its
      Affiliates, or a trustee or other fiduciary holding securities of the
      Company under an employee benefit plan of the Company) becomes the
      beneficial owner of 50% or more of the combined voting power of the then
      outstanding voting securities of Enterprise Bank and Trust Company ("ETC")
      entitled to vote generally in the election of directors of the Board of
      Directors of ETC; </FONT></P>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2> (c) consummation of a reorganization, merger or
      consolidation (a &#147;Business Combination&#148;) 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; </FONT></P></TD></TR></TABLE>
<P align=center><FONT face=serif size=2></FONT><FONT face=serif size=2>13</FONT><FONT face=serif size=2> </FONT></P>
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    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="99%">
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>&nbsp;<FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT face=serif size=2> </FONT></FONT><FONT face=serif size=2>(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 or more
      than 50% of the assets of ETC in a transaction or series of related
      transactions during the course of any twelve-month period; or </FONT></P>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>&nbsp;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>
      (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. </FONT></P></TD></TR></TABLE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>As used in
definition of Change of Control, the definitions of the terms &#147;beneficial owner&#148;
and &#147;group&#148; shall have the meanings ascribed to those terms in Rule 13(d)(3)
under the Securities Exchange Act of 1934. As used herein, the term &#147;Continuing
Directors&#148; 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</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT face=serif size=2>&#147;Control</FONT></U><FONT face=serif size=2>&#148; 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.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT face=serif size=2>"Person&#148;</FONT></U><FONT face=serif size=2> means any natural
person, firm, partnership, limited liability company, association, corporation,
company, trust, business trust, governmental authority or other entity, or any
"group" within the meaning of Section 13(d) or 14(d) of the Exchange Act or any
comparable successor provisions.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT face=serif size=2>&#147;Subsidiary</FONT></U><FONT face=serif size=2>&#148; 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.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>IN WITNESS
WHEREOF, the undersigned have executed this Agreement as of the date first
stated above. </FONT></P>
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    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%" colSpan=2><B><FONT face=serif size=2>ENTERPRISE FINANCIAL SERVICES CORP</FONT></B>&nbsp; </TD></TR>
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    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="49%"></TD></TR>
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    <TD noWrap align=left width="50%">&nbsp;</TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>By:</FONT>&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="49%"><FONT face=serif size=2>/s/ Frank H. Sanfilippo</FONT>&nbsp;
    </TD></TR>
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    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=center width="49%"></TD></TR>
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    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>Title:&nbsp;</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="49%"><FONT face=serif size=2>Executive Vice President</FONT>&nbsp;
    </TD></TR>
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    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="49%"></TD></TR>
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    <TD noWrap align=left width="50%" colSpan=2><B><FONT face=serif size=2>EXECUTIVE:</FONT></B>&nbsp; </TD></TR>
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    <TD align=center width="50%" colSpan=2>&nbsp;</TD></TR>
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    <TD align=center width="50%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" align=center width="50%" colSpan=2><FONT face=serif size=2>/s/ Peter F. Benoist</FONT> </TD></TR>
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    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%" colSpan=2><B><FONT face=serif size=2>Peter F. Benoist</FONT></B>&nbsp; </TD></TR></TABLE><BR>
<P align=center><FONT face=serif size=2>14</FONT><FONT face=serif size=2>
</FONT></P>
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