SWS GROUP, INC.
This Agreement between SWS Group, Inc. (hereinafter defined), and David Glatstein (“Executive”) is entered into on the
Effective Date (hereinafter defined).
1. Executive has been employed as an executive of SWS and in such capacity has obtained trade secrets, and highly
confidential business, technological, customer, and strategic information, as well as business and other information relating to
the internal affairs of SWS.
2. Executive desires to resign from SWS on December 31, 2001. In conjunction with Executive’s desire, and pursuant to the
terms hereof, Executive will receive substantial compensation and other benefits from SWS that otherwise would not be
available to him.
3. It is the desire of both parties that the remainder of Executive’s employment at SWS, and his subsequent resignation
from SWS, be conducted in an amicable manner and without undue prejudice to either party.
4. During his tenure at SWS, Executive has been entrusted with, acquired, or developed substantial knowledge and
expertise of a special nature relating to the business, financial and functional areas of SWS, as well as other information and
knowledge concerning SWS and its internal business affairs.
5. As set forth below, SWS is providing the Executive benefits of substantial value under this Agreement, and Executive
agrees to be strictly bound by the terms hereof.
THEREFORE, in order to set forth the terms, conditions and covenants upon which the parties have agreed, SWS and
Executive agree as follows:
II. CERTAIN DEFINITIONS.
1. “SWS” shall mean SWS Group, Inc., a Delaware corporation, and all of its direct and indirect subsidiaries and affiliated
entities and successors and assigns thereof.
2. “SWS Information” shall mean all information which SWS does not routinely disclose in response to inquiries from
competitors or others and which is informati