Document:

Exhibit

Exhibit 10.2

PINNACLE FINANCIAL PARTNERS, INC.
2018 ANNUAL CASH INCENTIVE PLAN

As approved by the Human Resources and Compensation
Committee of Pinnacle Financial Partners on
February 20, 2018

PLAN OBJECTIVES:

The overall objectives of the 2018 Annual Cash Incentive Plan (the “Plan”) are to:

		
	1.
	Motivate participants to ensure that important corporate soundness thresholds and corporate profitability objectives for 2018 are achieved, and

		
	2.
	Provide a reward system that encourages teamwork and cooperation in the achievement of firm-wide goals.

EFFECTIVE DATES OF THE PLAN:

The Plan is effective for the performance period from January 1, 2018 (Effective Date) through December 31, 2018 (the “Performance Period”) and for such period thereafter as shall be necessary to make all payments earned under the Plan.

ADMINISTRATION:

The Human Resources and Compensation Committee of the Board of Directors (the “HRCC”) is responsible for the overall administration of the Plan and shall have the authority to select the associates who are eligible for participation in the Plan.  The CFO, with the oversight of the CEO, shall provide the HRCC with periodic updates as to the status of the Plan as follows:

		
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	Produces status reports on a periodic basis to the CEO, the Leadership Team and the HRCC in order to ensure the ongoing effectiveness of the Plan.  The CEO has discretion related to communication of the status of the incentive plan to all Plan participants.

		
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	Makes recommendations for any Plan modifications (including target performance or payout awards) as a result of substantial changes to the organization or participants’ responsibilities to ensure fairness to all Plan participants.

		
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	At the end of the Plan period, prepares, verifies, approves and submits the appropriate award calculations and payouts authorized under the Plan to the CEO and, ultimately the HRCC, for approval and distribution.

The Company’s Chief Risk Officer at least annually shall evaluate, report and discuss with the HRCC whether features of the Plan should be limited in order to ensure that the Plan does not pose imprudent risks to the Company and that the Plan does not encourage the manipulation of reported earnings of the Company to enhance any employee’s compensation.

The HRCC is authorized to interpret the Plan, to establish, amend and / or rescind any rules and regulations relating to the Plan and to make any other determinations that it deems necessary or desirable for the administration of the Plan.  The HRCC may correct any defect or omission or reconcile any inconsistency in the Plan in the manner and to the extent the HRCC deems necessary or desirable.  Any decision of the HRCC in the interpretation and administration of Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned.  

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Nothing in this Plan shall preclude the HRCC from granting awards to participants pursuant to other compensation arrangements of the Company.

ELIGIBILITY:

Except as otherwise provided below, all associates (other than those that become associates as a result of an acquisition consummated by the Company during the Performance Period) who are compensated via a predetermined salary or hourly wage and are not included in any other annual cash incentive or cash performance-based compensation program or plan are eligible for participation in the Plan.  Participants who are not eligible for a full award due to their performance evaluation (see below - Target Award) should be notified by their Leadership Team member as soon as possible prior to distribution of awards. 

Certain associates that are compensated via a commission schedule or commission grid have an opportunity to achieve significant variable pay compensation due to escalating payouts pursuant to the commission schedule or grid based on their individual performance.  As a result, such commission-based associates are not eligible for participation in the Plan unless otherwise authorized under special arrangement approved by the HRCC.

FORFEITURE OF AWARDS:

Any participant whose employment terminates for any reason prior to distribution of awards in January 2019 will not be eligible for distribution of awards under the Plan unless approved by the HRCC or as otherwise provided in an agreement between the Company and such participant.

ETHICS:

The intent of this Plan is to fairly reward individual and team achievement.  Any associate who manipulates or attempts to manipulate the Plan for personal gain at the expense of clients, other associates or Company objectives will be subject to appropriate disciplinary action, including the non-payment of any award otherwise due or paid to such associate under this Plan.

In addition and upon the approval of the Company’s board of directors or the HRCC, payments under the Plan paid to an associate will be subject to recovery and “clawback” by the Company, and repaid by such employee, if the payments are based on materially inaccurate financial statements or other materially inaccurate performance metric criteria. Moreover, payouts under the Plan shall be subject to any clawback or recoupment rules and regulations adopted by the Securities and Exchange Commission or any other regulatory agency adopted pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

PLAN FUNDING:

The Plan assets will be funded from the results of operations of the Company with all assets being commingled with the assets of the Company. 

TIMING OF AWARDS:

During January 2019, the HRCC shall certify whether the performance goals for the Performance Period have been achieved. Any awards to be distributed pursuant to the Plan shall be distributed on a date determined by the Company prior to January 31, 2019 or as soon as possible thereafter, but in no event later than March 15, 2019.  No award will be distributed prior to January 1, 2019.

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TARGET AWARD:

Each participant will be assigned an “award tier” based on their position within the Company, their experience level or other factors.  Each participant’s Leadership Team member is responsible for notifying each participant of his or her “award tier”.  The “award tier” will be expressed as a percentage of the participant’s base salary ranging from 10% to 100%.  In order to determine the “target award”, participants will multiply their “award tier percentage” by their actual YTD base salary paid for 2018 as of December 31, 2018.  Overtime or other wage components are not considered in these calculations. 

The incentive for participants that begin their employment with the Company during the period from January 1, 2018 through December 31, 2018 will be calculated using the same formula.

PERFORMANCE CRITERIA

Awards under the Plan shall be conditioned on the attainment of one or more corporate performance goals recommended by the CEO and approved by the HRCC for the 2018 fiscal year.  Additionally, the CEO, based on input from any participant’s team leader, may include performance criteria for any individual or groups of participants as he deems appropriate, subject to the review of the HRCC.  Notwithstanding the foregoing, the HRCC shall have the sole discretion to establish such goals for the Company’s Named Executive Officers (as that term is defined in the rules and regulations of the Securities and Exchange Commission) and the CEO shall have no involvement in setting the performance goals applicable to participation in the Plan for himself or the other Named Executive Officers, and such goals shall be established solely by the HRCC.  

After December 31, 2018, the HRCC shall determine whether and to what extent each performance goal has been met.  In determining whether and to what extent a performance goal has been met, the HRCC may consider such matters as the HRCC deems appropriate. 

DISCRETIONARY INCREASES AND REDUCTIONS:

The CEO may award up to an additional 10% of base pay to any participant in the Plan, other than the CEO, based on extraordinary individual performance.  Likewise, the CEO may reduce a participant’s, other than the CEO’s, award by up to 100% of the calculated award for individual performance, if the participant did not exhibit a strong commitment to the Company’s mission or values.  Notwithstanding the foregoing, the HRCC shall have the sole discretion to accept the CEO’s recommendations for increases or decreases of awards pursuant to this paragraph with respect to Named Executive Officers and to approve any such discretionary adjustments for the CEO; and may make such other adjustments with respect to the Named Executive Officers that are consistent with the Plan.  

Discretionary adjustments outside these parameters shall be approved by the HRCC prior to distribution; however any discretionary adjustment with respect to payments to the Company’s Named Executive Officers, including the CEO, must be approved by the HRCC prior to distribution. 

AMENDMENTS, TERMINATIONS AND OTHER MATTERS:

The HRCC has the right to amend or terminate this Plan in any manner it may deem appropriate in its discretion at any time, including, but not limited to the ability to include or exclude any associate or group of associates from participation in the Plan, modify the award tiers or percentages or modify or waive performance targets.

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Should the Company enter into any merger or purchase agreement (including an agreement with respect to a transaction, consummation of which would constitute a change of control of the Company), significant market expansion or other materially significant strategic event, the HRCC may amend the Plan (including the performance criteria) as it may deem appropriate under the circumstances; in addition, the HRCC may amend the Plan (including the performance criteria) for any non-recurring transaction, event or occurrence which may materially impact the Company’s financial position or results of operations for the fiscal year (e.g., capital transactions, divestiture of assets at gains or losses, branch acquisitions, change in law or accounting rules, etc). 

Furthermore, the Committee may amend the Plan, including the performance goals, at any time to consider the impact of regulatory matters or if required or appropriate to conform to regulatory requirements, guidance or advice or if a change in regulations or regulatory guidance materially impacts performance criteria.     

Furthermore, this Plan does not, nor should any participant imply that it shall, create a contractual relationship or rights between the Company or any associate of the Company or any of the Company’s subsidiaries.  No associate should rely on this Plan as to any awards that the associate believes they might otherwise be entitled to receive.  This Plan shall be governed by and construed in accordance with the laws of the State of Tennessee, without regard to any conflicts of laws or principles.

4Exhibit

Exhibit 10.11

September 24, 2017 

Dear Mr. Locke: 

I am pleased to extend this conditional offer of employment as President of Taco Cabana with Fiesta Restaurant Group, Inc. (“Fiesta”), reporting to Rich Stockinger, President and Chief Executive Officer. Your new office will be located at 8918 Tesoro Drive, San Antonio, TX 78217. I propose a start date of October 16, 2017 and am excited to work with you. 

The following is a brief outline of the major components of this conditional offer of employment: 

Base Compensation 
Your annualized base salary will be $325,000. You will be paid biweekly. 

Discretionary Annual Increase 
You are eligible for a discretionary annual increase, based on merit. Your first increase may occur in January 2019. 

Discretionary Bonus 
Commencing in 2018, your bonus target is equal to 60% of your annual base salary, subject to the terms of the Fiesta bonus plan applicable to you and the discretion of the Compensation Committee of the Board of Directors. 

Sign On Bonus 
You are eligible for a sign-on bonus of $45,000 (“Sign-On Bonus”) to be paid on or before March 15, 2018. In the event you voluntarily resign from the Company within one year of the payment date of the Sign-On Bonus, the Sign-On Bonus must be refunded to the Company and you authorize the Company to deduct this obligation insofar as possible, from any salary, wages, accrued vacation, bonus or other payments or employee benefits to which you may be entitled, or business expense reimbursement amounts that may be due to you. You agree that you remain liable for any amount that is not withheld from your wages. By signing this offer letter, you accept the terms of this agreement.
Long Term Incentive Plan 
Commencing in 2018, you will be eligible for annual equity grants of approximately $225,000, subject to the discretion by the Compensation Committee of the Board of Directors. The equity grants are currently expected to be comprised of 50% restricted stock awards that vest 25% on each anniversary date and 50% based on performance-based criteria to be determined prior to the date of grant. 

Relocation 
Subject to all other terms of the relocation benefits package you have been provided, Fiesta will reimburse you for temporary corporate housing costs for up to six months. 

Severance Agreement 
Fiesta will enter into a separate agreement with you to provide certain severance payments upon termination of your employment by Fiesta without Cause and for reasons other than death or "permanent and total disability" (within the meaning Section 22(e)(3) of the Code) or by you voluntarily for Good Reason (to be defined in the agreement). The severance payments will include an amount equal to one times your annual base salary in effect prior to the date employment is terminated and an amount equal to a pro rata portion of the aggregate bonus you would have been entitled to receive with respect to the fiscal year of termination had employment not been terminated. Such bonus shall be paid at the same time it would have been paid had your employment not been terminated. 

Insurance Benefits 
Details regarding our comprehensive benefits package will be provided to you. 

Vacation 
You are eligible for three weeks of vacation from date of hire through your ninth year. On your tenth year of employment, you will then be eligible for four weeks of vacation. 

Personal Days 
Commencing your start date you are eligible for one (1) personal/sick days and each calendar year thereafter, you will receive five (5) personal/sick days. 

This offer of employment is contingent upon the following: 
		
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	Acceptable results from all Fiesta employment screening evaluations. 

		
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	Execution of the attached Agreement to Respect Confidential Information. 

		
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	Execution of the attached Binding Arbitration Program acknowledgment. 

		
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	Execution of the attached Background Information Release Form. 

		
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	Satisfactory proof of identification and work authorization as required by federal law. 

		
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	Satisfactory assurance that you are not subject to any non-compete or other restrictive covenant that could impair your ability to perform the job responsibilities of the position you are offered. If you are subject to any such restrictions, please provide us with a copy of relevant documents at your earliest convenience. 

While we are confident that we will have a mutually beneficial employment relationship, employment with Fiesta is at-will and this is not a contract for employment. Under this relationship, Fiesta may, at any time, decide to end an individual’s employment with or without cause, prior notice or discipline at Fiesta’s sole discretion. Likewise, any employee is free to end his or her employment at any time for any reason with or without notice. 

Please let me know if you have any questions. I can be reached at             . 

Warm welcome, 

/s/ LYNN SCHWEINFURTH

Lynn Schweinfurth
CFO
Fiesta Restaurant Group, Inc. 

/s/ CHARLES LOCKE
___________________________________ 
Accepted - Charles Locke 

_____________________ 
Date

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