Summary Description of Named Executive Officer Compensation for Sterling Bancshares, Inc.

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Summary

This document outlines the annual base salaries for the named executive officers of Sterling Bancshares, Inc. as of April 1, 2005. It lists the compensation for the President and CEO, Executive Vice Presidents, and other key officers. In addition to base salary, these executives are eligible for incentive programs, stock awards, and various employee benefits. Some officers have separate employment, severance, and non-competition agreements with the company. The summary provides an overview of the compensation structure and benefits for the company's top executives.

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EX-10.1 2 h24856exv10w1.txt SUMMARY DESCRIPTION OF NAMED EXECUTIVE OFFICER COMPENSTATION EXHIBIT 10.1 SUMMARY DESCRIPTION OF NAMED EXECUTIVE OFFICER COMPENSATION The following table sets forth the annual base salaries, effective April 1, 2005, provided to the following executive officers of Sterling Bancshares, Inc. (the "Company") who have been included as the "named executive officers" in the Company's proxy statement for the 2005 Annual Meeting of Shareholders:
NAME TITLE 2005 SALARY ---- ----- ----------- J. Downey Bridgwater President and Chief Executive Officer $425,000 Stephen C. Raffaele Executive Vice President and $242,000 Chief Financial Officer Glenn W. Rust Executive Vice President and $212,000 Chief Operations Officer Daryl D. Bohls Executive Vice President and $212,000 Regional CEO - North Houston Region James W. Goolsby, Jr. Executive Vice President and $201,000 General Counsel
The Company and Mr. Bridgwater are parties to the previously disclosed Employment Agreement dated effective January 1, 2002. Messrs. Raffaele, Bohls and Goolsby have entered into separate Severance and Non-Competition Agreements with the Company. Each of the Employment Agreement and the form of Severance and Non-Competition Agreement have been filed as exhibits in the Company's filings with the Securities and Exchange Commission and the terms of such agreements are incorporated herein. In addition to the base salaries set forth above, each of the named executive officers are also eligible to participate in the Company's incentive compensation program, savings plan and are eligible to receive awards under the Company's 2003 Stock Incentive and Compensation Plan. Further, from time to time the named executive officers receive compensation in the form of automobile allowances, membership fees and dues, tax reimbursement payments, matching contribution to the Company's 401(k) Plan and Deferred Compensation Plan, life insurance premiums and other forms of compensation. Each of the named executive officers is also eligible to receive vacation, paid sick leave and other employee benefits generally available to the Company's salaried employees.