Document:

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                                                                    Exhibit 10-n

                              EMPLOYMENT AGREEMENT
                              --------------------

         AGREEMENT by and between AmSouth Bancorporation, a Delaware corporation
(the "Company") and ________________ (the "Executive"), dated as of the 4th day
of October, 1999.

         The Board of Directors of the Company (the "Board"), has determined
that it is in the best interests of the Company and its shareholders to assure
that the Company will have the continued dedication of the Executive,
notwithstanding the possibility, threat or occurrence of a Change of Control (as
defined below) of the Company.  The Board believes it is imperative to diminish
the inevitable distraction of the Executive by virtue of the personal
uncertainties and risks created by a pending or threatened Change of Control and
to encourage the Executive's full attention and dedication to the Company
currently and in the event of any threatened or pending Change of Control, and
to provide the Executive with compensation and benefits arrangements upon a
Change of Control which ensure that the compensation and benefits expectations
of the Executive will be satisfied and which are competitive with those of other
corporations.  Therefore, in order to accomplish these objectives, the Board has
caused the Company to enter into this Agreement.

         NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

         1.  Certain Definitions.  (a)  The "Effective Date" shall mean the
             -------------------
first date during the Change of Control Period (as defined in Section 1(b)) on
which a Change of Control (as defined in Section 2) occurs.  Anything in this
Agreement to the contrary notwithstanding, if a Change of Control occurs and if
the Executive's employment with the Company is terminated prior to the date on
which the Change of Control occurs, and if it is reasonably demonstrated by the
Executive that such termination of employment (i) was at the request of a third
party who has taken steps reasonably calculated to effect a Change of Control or
(ii) otherwise arose in connection with or anticipation of a Change of Control,
then for all purposes of this Agreement the "Effective Date" shall mean the date
immediately prior to the date of such termination of employment.

         (b)  The "Change of Control Period" shall mean the period commencing on
the date hereof and ending on the third anniversary of the date hereof;
provided, however, that commencing on the date one year after the date hereof,
and on each annual anniversary of such date (such date and each annual
anniversary thereof shall be hereinafter referred to as the "Renewal Date"),
unless previously terminated, the Change of Control Period shall be
automatically extended so as to terminate three years from such Renewal Date,
unless at least 60 days prior to the Renewal Date the Company shall give notice
to the Executive that the Change of Control Period shall not be so extended.

         2.  Change of Control.   For the purpose of this Agreement, a "Change
             -----------------
of Control" shall mean:
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         (a)  The acquisition by any individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act")) (a "Person") of beneficial ownership (within
the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of
either (i) the then outstanding shares of common stock of the Company (the
"Outstanding Company Common Stock") or (ii) the combined voting power of the
then outstanding voting securities of the Company entitled to vote generally in
the election of directors (the "Outstanding Company Voting Securities");
provided, however, that for purposes of this subsection (a), the following
acquisitions shall not constitute a Change of Control:  (i) any acquisition
directly from the Company, (ii) any acquisition by the Company, (iii) any
acquisition by any employee benefit plan (or related trust) sponsored or
maintained by the Company or any corporation controlled by the Company or (iv)
any acquisition by any corporation pursuant to a transaction which complies with
clauses (i), (ii) and (iii) of subsection (c) of this Section 2; or

         (b)  Individuals who, as of the date hereof, constitute the Board (the
"Incumbent Board") cease for any reason to constitute at least a majority of the
Board; provided, however, that any individual becoming a director subsequent to
the date hereof whose election, or nomination for election by the Company's
shareholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this
purpose, 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 or
consents by or on behalf of a Person other than the Board; or

         (c)  Consummation of a reorganization, merger or consolidation or sale
or other disposition of all or substantially all of the assets of the Company (a
"Business Combination"), in each case, unless, following such Business
Combination, (i) all or substantially all of the individuals and entities who
were the beneficial owners, respectively, of the Outstanding Company Common
Stock and Outstanding Company Voting Securities immediately prior to such
Business Combination beneficially own, directly or indirectly, more than 60% of,
respectively, the then outstanding shares of common stock and the combined
voting power of the then outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation
resulting from such Business Combination (including, without limitation, a
corporation which as a result of such transaction owns the Company or all or
substantially all of the Company's assets either directly or through one or more
subsidiaries) in substantially the same proportions as their ownership,
immediately prior to such Business Combination of the Outstanding Company Common
Stock and Outstanding Company Voting Securities, as the case may be, (ii) no
Person (excluding any corporation resulting from such Business Combination or
any employee benefit plan (or related trust) of the Company or such corporation
resulting from such Business Combination) beneficially owns, directly or
indirectly, 20% or more of, respectively, the then outstanding shares of common
stock of the corporation resulting from such Business Combination or the
combined voting power of the then outstanding voting securities of such
corporation except to the extent that such ownership existed prior to the
Business Combination and (iii) at least a majority of the members of the board
of directors of the corporation resulting from such Business Combination were
members of the

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Incumbent Board at the time of the execution of the initial agreement, or of the
action of the Board, providing for such Business Combination; or

         (d)  Approval by the shareholders of the Company of a complete
liquidation or dissolution of the Company.

         3.  Employment Period; Prior Agreements.  (a) The Company hereby agrees
             -----------------------------------
to continue the Executive in its employ, and the Executive hereby agrees to
remain in the employ of the Company subject to the terms and conditions of this
Agreement, for the period commencing on the Effective Date and ending on the
second anniversary of such date (the "Employment Period").  This Agreement
completely replaces and supersedes that certain Executive Severance Agreement
between the Executive and the Company dated ________________.

         (b)  The Executive and the Company acknowledge that, except as may
otherwise be provided under any other written agreement between the Executive
and the Company, the employment of the Executive by the Company is "at will"
and, subject to Section 1(a) hereof, prior to the Effective Date, the
Executive's employment and/or this Agreement may be terminated by either the
Executive or the Company at any time prior to the Effective Date, in which case
the Executive shall have no further rights under this Agreement.  From and after
the Effective Date this Agreement shall supersede any other agreement between
the parties with respect to the subject matter hereof.

         4.  Terms of Employment.  (a)  Position and Duties. (i)  During the
             -------------------        -------------------
Employment Period, (A) the Executive's position (including status, offices,
titles and reporting requirements), authority, duties and responsibilities shall
be at least commensurate in all material respects with the most significant of
those held, exercised and assigned at any time during the 120-day period
immediately preceding the Effective Date and (B) the Executive's services shall
be performed at the location where the Executive was employed immediately
preceding the Effective Date or any office or location less than 35 miles from
such location.

          (ii)  During the Employment Period, and excluding any periods of
vacation and sick leave to which the Executive is entitled, the Executive agrees
to devote reasonable attention and time during normal business hours to the
business and affairs of the Company and, to the extent necessary to discharge
the responsibilities assigned to the Executive hereunder, to use the Executive's
reasonable best efforts to perform faithfully and efficiently such
responsibilities.  During the Employment Period it shall not be a violation of
this Agreement for the Executive to (A) serve on corporate, civic or charitable
boards or committees, (B) deliver lectures, fulfill speaking engagements or
teach at educational institutions and (C) manage personal investments, so long
as such activities do not significantly interfere with the performance of the
Executive's responsibilities as an employee of the Company in accordance with
this Agreement.  It is expressly understood and agreed that to the extent that
any such activities have been conducted by the Executive prior to the Effective
Date, the continued conduct of such activities (or the conduct of activities
similar in nature and scope thereto) subsequent to the Effective Date shall
thereafter be deemed not to interfere with the performance of the Executive's
responsibilities to the Company.

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         (b)  Compensation.  (i)  Base Salary.  During the Employment Period,
              ------------        -----------
the Executive shall receive an annual base salary ("Annual Base Salary"), which
shall be paid at a monthly rate, at least equal to twelve times the highest
monthly base salary paid or payable, including any base salary which has been
earned but deferred, to the Executive by the Company and its affiliated
companies in respect of the twelve-month period immediately preceding the month
in which the Effective Date occurs.  During the Employment Period, the Annual
Base Salary shall be reviewed no more than 12 months after the last salary
increase awarded to the Executive prior to the Effective Date and thereafter at
least annually.  Any increase in Annual Base Salary shall not serve to limit or
reduce any other obligation to the Executive under this Agreement.  Annual Base
Salary shall not be reduced after any such increase and the term Annual Base
Salary as utilized in this Agreement shall refer to Annual Base Salary as so
increased.  As used in this Agreement, the term "affiliated companies" shall
include any company controlled by, controlling or under common control with the
Company.

              (ii)  Annual Bonus.  In addition to Annual Base Salary, the
                    ------------
Executive shall be awarded, for each fiscal year ending during the Employment
Period, an annual bonus (the "Annual Bonus") in cash at least equal to the
Executive's highest bonus under the Company's Executive Incentive Plan, or any
comparable bonus under any predecessor or successor plan, or otherwise, for the
last three full fiscal years prior to the Effective Date (annualized in the
event that the Executive was not employed by the Company for the whole of such
fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid
no later than the end of the third month of the fiscal year next following the
fiscal year for which the Annual Bonus is awarded, unless the Executive shall
elect to defer the receipt of such Annual Bonus.

              (iii) Incentive, Savings and Retirement Plans.  During the
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Employment Period, the Executive shall be entitled to participate in all
incentive, savings and retirement plans, practices, policies and programs
applicable generally to other peer executives of the Company and its affiliated
companies, but in no event shall such plans, practices, policies and programs
provide the Executive with incentive opportunities (measured with respect to
both regular and special incentive opportunities, to the extent, if any, that
such distinction is applicable), savings opportunities and retirement benefit
opportunities, in each case, less favorable, in the aggregate, than the most
favorable of those provided by the Company and its affiliated companies for the
Executive under such plans, practices, policies and programs as in effect at any
time during the 120-day period immediately preceding the Effective Date or if
more favorable to the Executive, those provided generally at any time after the
Effective Date to other peer executives of the Company and its affiliated
companies.

              (iv)  Welfare Benefit Plans.  During the Employment Period, the
                    ---------------------
Executive and/or the Executive's family, as the case may be, shall be eligible
for participation in and shall receive all benefits under welfare benefit plans,
practices, policies and programs provided by the Company and its affiliated
companies (including, without limitation, medical, prescription, dental,
disability, employee life, group life, accidental death and travel accident
insurance plans and programs) to the extent applicable generally to other peer
executives of the Company and its

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affiliated companies, but in no event shall such plans, practices, policies and
programs provide the Executive with benefits which are less favorable, in the
aggregate, than the most favorable of such plans, practices, policies and
programs in effect for the Executive at any time during the 120-day period
immediately preceding the Effective Date or, if more favorable to the Executive,
those provided generally at any time after the Effective Date to other peer
executives of the Company and its affiliated companies.

             (v)    Expenses.  During the Employment Period, the Executive shall
                    --------
be entitled to receive prompt reimbursement for all reasonable expenses incurred
by the Executive in accordance with the most favorable policies, practices and
procedures of the Company and its affiliated companies in effect for the
Executive at any time during the 120-day period immediately preceding the
Effective Date or, if more favorable to the Executive, as in effect generally at
any time thereafter with respect to other peer executives of the Company and its
affiliated companies.

             (vi)   Fringe Benefits.  During the Employment Period, the
                    ---------------
Executive shall be entitled to fringe benefits, including, without limitation,
tax and financial planning services, payment of club dues, and, if applicable,
use of an automobile and payment of related expenses, in accordance with the
most favorable plans, practices, programs and policies of the Company and its
affiliated companies in effect for the Executive at any time during the 120-day
period immediately preceding the Effective Date or, if more favorable to the
Executive, as in effect generally at any time thereafter with respect to other
peer executives of the Company and its affiliated companies.

             (vii)  Office and Support Staff.  During the Employment Period,
                    ------------------------
the Executive shall be entitled to an office or offices of a size and with
furnishings and other appointments, and to exclusive personal secretarial and
other assistance, at least equal to the most favorable of the foregoing provided
to the Executive by the Company and its affiliated companies at any time during
the 120-day period immediately preceding the Effective Date or, if more
favorable to the Executive, as provided generally at any time thereafter with
respect to other peer executives of the Company and its affiliated companies.

             (viii) Vacation.  During the Employment Period, the Executive shall
                    --------
be entitled to paid vacation in accordance with the most favorable plans,
policies, programs and practices of the Company and its affiliated companies as
in effect for the Executive at any time during the 120-day period immediately
preceding the Effective Date or, if more favorable to the Executive, as in
effect generally at any time thereafter with respect to other peer executives of
the Company and its affiliated companies.

         5.  Termination of Employment.  (a)  Death or Disability.  The
             -------------------------        -------------------
Executive's employment shall terminate automatically upon the Executive's death
during the Employment Period.  If the Company determines in good faith that the
Disability of the Executive has occurred during the Employment Period (pursuant
to the definition of Disability set forth below), it may give to the Executive
written notice in accordance with Section 13(b) of this Agreement of its
intention to terminate the Executive's employment.  In such event, the
Executive's employment with the

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Company shall terminate effective on the 30th day after receipt of such notice
by the Executive (the "Disability Effective Date"), provided that, within the 30
days after such receipt, the Executive shall not have returned to full-time
performance of the Executive's duties. For purposes of this Agreement,
"Disability" shall mean the absence of the Executive from the Executive's duties
with the Company on a full-time basis for 180 consecutive business days as a
result of incapacity due to mental or physical illness which is determined to be
total and permanent by a physician selected by the Company or its insurers and
acceptable to the Executive or the Executive's legal representative.

         (b)  Cause.  The Company may terminate the Executive's employment
              -----
during the Employment Period for Cause.  For purposes of this Agreement, "Cause"
shall mean:

          (i)  the willful and continued failure of the Executive to perform
    substantially the Executive's duties with the Company or one of its
    affiliates (other than any such failure resulting from incapacity due to
    physical or mental illness), after a written demand for substantial
    performance is delivered to the Executive by the Board or the Chief
    Executive Officer of the Company which specifically identifies the manner in
    which the Board or Chief Executive Officer believes that the Executive has
    not substantially performed the Executive's duties, or

          (ii)  the willful engaging by the Executive in illegal conduct or
    gross misconduct which is materially and demonstrably injurious to the
    Company.

For purposes of this provision, no act or failure to act, on the part of the
Executive, shall be considered "willful" unless it is done, or omitted to be
done, by the Executive in bad faith or without reasonable belief that the
Executive's action or omission was in the best interests of the Company. Any
act, or failure to act, based upon authority given pursuant to a resolution duly
adopted by the Board or upon the instructions of the Chief Executive Officer or
a senior officer of the Company or based upon the advice of counsel for the
Company shall be conclusively presumed to be done, or omitted to be done, by the
Executive in good faith and in the best interests of the Company.  The cessation
of employment of the Executive shall not be deemed to be for Cause unless and
until there shall have been delivered to the Executive a copy of a resolution
duly adopted by the affirmative vote of not less than three-quarters of the
entire membership of the Board at a meeting of the Board called and held for
such purpose (after reasonable notice is provided to the Executive and the
Executive is given an opportunity, together with  counsel, to be heard before
the Board), finding that, in the good faith opinion of the Board, the Executive
is guilty of the conduct described in subparagraph (i) or (ii) above, and
specifying the particulars thereof in detail.

         (c)  Good Reason.  The Executive's employment may be terminated by the
              -----------
Executive for Good Reason.  For purposes of this Agreement, "Good Reason" shall
mean:

          (i)  the assignment to the Executive of any duties inconsistent in any
    respect with the Executive's position (including status, offices, titles and
    reporting requirements), authority, duties or responsibilities as
    contemplated by Section 4(a) of this Agreement, or any other action

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    by the Company which results in a diminution in such position, authority,
    duties or responsibilities, excluding for this purpose an isolated,
    insubstantial and inadvertent action not taken in bad faith and which is
    remedied by the Company promptly after receipt of notice thereof given by
    the Executive;

          (ii)  any failure by the Company to comply with any of the provisions
    of Section 4(b) of this Agreement, other than an isolated, insubstantial and
    inadvertent failure not occurring in bad faith and which is remedied by the
    Company promptly after receipt of notice thereof given by the Executive;

          (iii)  the Company's requiring the Executive to be based at any office
    or location other than as provided in Section 4(a)(i)(B) hereof or the
    Company's requiring the Executive to travel on Company business to a
    substantially greater extent than required immediately prior to the
    Effective Date;

          (iv)  any purported termination by the Company of the Executive's
    employment otherwise than as expressly  permitted by this Agreement; or

          (v)  any failure by the Company to comply with and satisfy Section
    11(c) of this Agreement.

For purposes of this Section 5(c), any good faith determination of "Good Reason"
made by the Executive shall be conclusive.

         (d)  Notice of Termination.  Any termination by the Company for Cause,
              ---------------------
or by the Executive for Good Reason, shall be communicated by Notice of
Termination to the other party hereto given in accordance with Section 13(b) of
this Agreement.  For purposes of this Agreement, a "Notice of Termination" means
a written notice which (i) indicates the specific termination provision in this
Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable
detail the facts and circumstances claimed to provide a basis for termination of
the Executive's employment under the provision so indicated and (iii) if the
Date of Termination (as defined below) is other than the date of receipt of such
notice, specifies the termination date (which date shall be not more than thirty
days after the giving of such notice).  The failure by the Executive or the
Company to set forth in the Notice of Termination any fact or circumstance which
contributes to a showing of Good Reason or Cause shall not waive any right of
the Executive or the Company, respectively, hereunder or preclude the Executive
or the Company, respectively, from asserting such fact or circumstance in
enforcing the Executive's or the Company's rights hereunder.

         (e)  Date of Termination.  "Date of Termination" means (i) if the
              -------------------
Executive's employment is terminated by the Company for Cause, or by the
Executive for Good Reason, the date of receipt of the Notice of Termination or
any later date specified therein, as the case may be, (ii) if the Executive's
employment is terminated by the Company other than for Cause or Disability, the
Date of Termination shall be the date on which the Company notifies the
Executive of such

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termination and (iii) if the Executive's employment is terminated by reason of
death or Disability, the Date of Termination shall be the date of death of the
Executive or the Disability Effective Date, as the case may be.

         6.  Obligations of the Company upon Termination.  (a)  Good Reason;
             -------------------------------------------        ------------
Other Than for Cause, Death or Disability. If, during the Employment Period, the
-----------------------------------------
Company shall terminate the Executive's employment other than for Cause or
Disability or the Executive shall terminate employment for Good Reason:

       (i) the Company shall pay to the Executive in a lump sum in cash within
    30 days after the Date of Termination the aggregate of the following
    amounts:

               A.  the sum of (1) the Executive's Annual Base Salary through the
         Date of Termination to the extent not theretofore paid, (2) the product
         of (x) the higher of (I) the Recent Annual Bonus and (II) the Annual
         Bonus paid or payable, including any bonus or portion thereof which has
         been earned but deferred (and annualized for any fiscal year consisting
         of less than twelve full months or during which the Executive was
         employed for less than twelve full  months), for the most recently
         completed fiscal year during the Employment Period, if any (such higher
         amount being referred to as the "Highest Annual Bonus") and (y) a
         fraction, the numerator of which is the number of days in the current
         fiscal year through the Date of Termination, and the denominator of
         which is 365 and (3) any compensation previously deferred by the
         Executive (together with any accrued interest or earnings thereon) and
         any accrued vacation pay, in each case to the extent not theretofore
         paid (the sum of the amounts described in clauses (1), (2), and (3)
         shall be hereinafter referred to as the "Accrued Obligations"); and

               B.  the amount equal to the product of (1) _______ and (2) the
         sum of (x) the Executive's Annual Base Salary, (y) the Highest Annual
         Bonus and (z) the value determined by an executive compensation
         consulting firm with a national reputation to be a competitive annual
         long term incentive grant (defined as a size-adjusted, 50th percentile
         grant as of the date of determination as compared to the Company's peer
         group); and

               C. An amount equal to the actuarial present value equivalent of
         the aggregate benefits accrued by the Executive as of the date of
         termination under the terms of the Supplemental Retirement Plan.  For
         this purpose, the Executive's interest under the Supplemental
         Retirement Plan shall be fully vested and such benefits shall be
         calculated under the assumption that the Executive's employment
         continued following the date of termination for the number of years
         remaining in the term of this Agreement (i.e., additional years of
         service credits shall be added); provided, however, that, for the
         purposes of determining "final average pay" under the benefit
         calculation, the Executive's actual pay history as of the date of
         termination shall be used.  Further,

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         the payment provided under this Subsection 6(a)(i)(C) shall be made in
         lieu of, and shall completely supersede and replace the Executive's
         benefits payable under the AmSouth Bancorporation Supplemental
         Retirement Plan; and

               D. An amount equal to the aggregate benefits accrued by the
         Executive as of the effective date of termination under the terms of
         the Supplemental Thrift Plan.  The payment provided under this
         Subsection 6(a)(i)(D) shall be made in lieu of, and shall completely
         supersede and replace, the Executive's benefits payable under the
         AmSouth Bancorporation Supplemental Thrift Plan; and

               E. An amount equal to _______ times the sum of: (i) the
         Executive's annual club dues bonus (if applicable); plus (ii) the
         Executive's annual automobile allowance (if applicable) for the year in
         which the Executive's Date of Termination occurs.

          (ii)  for _____ years after the Executive's Date of Termination, or
    such longer period as may be provided by the terms of the appropriate plan,
    program, practice or policy, the Company shall continue benefits to the
    Executive and/or the Executive's family at least equal to those which would
    have been provided to them in accordance with the plans, programs, practices
    and policies described in Section 4(b)(iv) of this Agreement if the
    Executive's employment had not been terminated or, if more favorable to the
    Executive, as in effect generally at any time thereafter with respect to
    other peer executives of the Company and its affiliated companies and their
    families, provided, however, that if the Executive becomes reemployed with
    another employer and is eligible  to receive medical or other welfare
    benefits under another employer provided plan, the medical and other welfare
    benefits described herein shall be secondary to those provided under such
    other plan during such applicable period of eligibility.  For purposes of
    determining eligibility (but not the time of commencement of benefits) of
    the Executive for retiree benefits pursuant to such plans, practices,
    programs and policies, the Executive shall be considered to have remained
    employed until ______ years after the Date of Termination and to have
    retired on the last day of such period;

          (iii)  the Company shall, at its sole expense as incurred, provide the
    Executive with outplacement services the scope and provider of which shall
    be selected by the Executive in his sole discretion;

          (iv)  to the extent not theretofore paid or provided, the Company
    shall timely pay or provide to the Executive any other amounts or benefits
    required to be paid or provided or which the Executive is eligible to
    receive under any plan, program, policy or practice or contract or agreement
    of the Company and its affiliated companies (such other amounts and benefits
    shall be hereinafter referred to as the "Other Benefits"); and

          (v) the Company shall pay or provide, as the case may be, relocation
    benefits under the relocation policy of the Company as are available to
    other peer executives of the Company and

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    its affiliated companies (A) which have been accrued by the Executive as of
    the Date of Termination and (B) which are requested by the Executive in
    connection with the Executive's relocation of his or her primary residence
    within two years following the Date of Termination to such new reasonable
    location specified by the Executive which is more than 35 miles from the
    location provided in Section 4(a)(i)(B) hereof.

         (b)  Death.  If the Executive's employment is terminated by reason of
              -----
the Executive's death during the Employment Period, this Agreement shall
terminate without further obligations to the Executive's legal representatives
under this Agreement, other than for payment of Accrued Obligations and the
timely payment or provision of Other Benefits.  Accrued Obligations shall be
paid to the Executive's estate or beneficiary, as applicable, in a lump sum in
cash within 30 days of the Date of Termination.  With respect to the provision
of Other Benefits, the term Other Benefits as utilized in this Section 6(b)
shall include, without limitation, and the Executive's estate and/or
beneficiaries shall be entitled to receive, benefits at least equal to the most
favorable benefits provided by the Company and affiliated companies to the
estates and beneficiaries of peer executives of the Company and such affiliated
companies under such plans, programs, practices and policies relating to death
benefits, if any, as in effect with respect to other peer executives and their
beneficiaries at any time during the 120-day period immediately preceding the
Effective Date or, if more favorable to the Executive's estate and/or the
Executive's beneficiaries, as in effect on the date of the Executive's death
with respect to other peer executives of the Company and its affiliated
companies and their beneficiaries.

         (c)  Disability.  If the Executive's employment is terminated by reason
              ----------
of the Executive's Disability during the Employment Period, this Agreement shall
terminate without further obligations to the Executive, other than for payment
of Accrued Obligations and the timely payment or provision of Other Benefits.
Accrued Obligations shall be paid to the Executive in a lump sum in cash within
30 days of the Date of Termination.  With respect to the provision of Other
Benefits, the term Other Benefits as utilized in this Section 6(c) shall
include, and the Executive shall be entitled after the Disability Effective Date
to receive, disability and other benefits at least equal to the most favorable
of those generally provided by the Company and its affiliated companies to
disabled executives and/or their families in accordance with such plans,
programs, practices and policies relating to disability, if any, as in effect
generally with respect to other peer executives and their families at any time
during the 120-day period immediately preceding the Effective Date or, if more
favorable to the Executive and/or the Executive's family, as in effect at any
time thereafter generally with respect to other peer executives of the Company
and its affiliated companies and their families.

         (d)  Cause; Other than for Good Reason.  If the Executive's employment
              ---------------------------------
shall be terminated for Cause during the Employment Period, this Agreement shall
terminate without further obligations to the Executive other than the obligation
to pay to the Executive (x) his Annual Base Salary through the Date of
Termination, (y) the amount of any compensation previously deferred by the
Executive, and (z) Other Benefits, in each case to the extent theretofore
unpaid.  If the Executive voluntarily terminates employment during the
Employment Period, excluding a termination

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for Good Reason, this Agreement shall terminate without further obligations to
the Executive, other than for Accrued Obligations and the timely payment or
provision of Other Benefits. In such case, all Accrued Obligations shall be paid
to the Executive in a lump sum in cash within 30 days of the Date of
Termination.

         7.  Non-exclusivity of Rights.  Nothing in this Agreement shall prevent
             -------------------------
or limit the Executive's continuing or future participation in any plan,
program, policy or practice provided by the Company or any of its affiliated
companies and for which the Executive may qualify, nor, subject to Section
13(f), shall anything herein limit or otherwise affect such rights as the
Executive may have under any contract or agreement with the Company or any of
its affiliated companies.  Amounts which are vested benefits or which the
Executive is otherwise entitled to receive under any plan, policy, practice or
program of or any contract or agreement with the Company or any of its
affiliated companies at or subsequent to the Date of Termination shall be
payable in accordance  with such plan, policy, practice or program or contract
or agreement except as explicitly modified by this Agreement.

         8.  Full Settlement.  The Company's obligation to make the payments
             ---------------
provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any set-off, counterclaim, recoupment,
defense or other claim, right or action which the Company may have against the
Executive or others.  In no event shall the Executive be obligated to seek other
employment or take any other action by way of mitigation of the amounts payable
to the Executive under any of the provisions of this Agreement and such amounts
shall not be reduced whether or not the Executive obtains other employment.  The
Company agrees to pay as incurred, to the full extent permitted by law, all
legal fees and expenses which the Executive may reasonably incur as a result of
any contest (regardless of the outcome thereof) by the Company, the Executive or
others of the validity or enforceability of, or liability under, any provision
of this Agreement or any guarantee of performance thereof (including as a result
of any contest by the Executive about the amount of any payment pursuant to this
Agreement), plus in each case interest on any delayed payment at the applicable
Federal rate provided for in Section 7872(f)(2)(A) of the Internal Revenue Code
of 1986, as amended (the "Code").

         9.  Certain Additional Payments by the Company.
             ------------------------------------------

         (a)  Anything in this Agreement to the contrary notwithstanding and
except as set forth below, in the event it shall be determined that any payment
or distribution by the Company or its affiliates to or for the benefit of the
Executive (whether paid or payable or distributed or distributable pursuant to
the terms of this Agreement or otherwise, but determined without regard to any
additional payments required under this Section 9) (a "Payment") would be
subject to the excise tax imposed by Section 4999 of the Code or any interest or
penalties are incurred by the Executive with respect to such excise tax (such
excise tax, together with any such interest and penalties, are hereinafter
collectively referred to as the "Excise Tax"), then the Executive shall be
entitled to receive an additional payment (a "Gross-Up Payment") in an amount
such that after payment by the Executive of all taxes (including any interest or
penalties imposed with respect to such taxes), including,

                                      -11-
<PAGE>

without limitation, any income taxes (and any interest and penalties imposed
with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, the
Executive retains an amount of the Gross-Up Payment equal to the Excise Tax
imposed upon the Payments. Notwithstanding the foregoing provisions of this
Section 9(a), if it shall be determined that the Executive is entitled to a
Gross-Up Payment, but that the Payments do not exceed 110% of the greatest
amount (the "Reduced Amount") that could be paid to the Executive such that the
receipt of Payments would not give rise to any Excise Tax, then no Gross-Up
Payment shall be made to the Executive and the Payments, in the aggregate, shall
be reduced to the Reduced Amount.

         (b)  Subject to the provisions of Section 9(c), all determinations
required to be made under this Section 9, including whether and when a Gross-Up
Payment is required and the amount of such Gross-Up Payment and the assumptions
to be utilized in arriving at such determination, shall be made by the Company's
independent certified public accounting firm or such other certified public
accounting firm as may be designated by the Executive (the "Accounting Firm")
which shall provide detailed supporting calculations both to the Company and the
Executive within 15 business days of the receipt of notice from the Executive
that there has been a Payment, or such earlier time as is requested by the
Company.  In the event that the Accounting Firm is serving as accountant or
auditor for the individual, entity or group effecting the Change of Control, the
Executive shall appoint another nationally recognized accounting firm to make
the determinations required hereunder (which accounting firm shall then be
referred to as the Accounting Firm hereunder).  All fees and expenses of the
Accounting Firm shall be borne solely by the Company.  Any Gross-Up Payment, as
determined pursuant to this Section 9, shall be paid by the Company to the
Executive within five days of the receipt of the Accounting Firm's
determination.  Any determination by the Accounting Firm shall be binding upon
the Company and the Executive.  As a result of the uncertainty in the
application of Section 4999 of the Code at the time of the initial determination
by the Accounting Firm hereunder, it is possible that Gross-Up Payments which
will not have been made by the Company should have been made ("Underpayment"),
consistent with the calculations required to be made hereunder.  In the event
that the Company exhausts its remedies pursuant to Section 9(c) and the
Executive thereafter is required to make a payment of any Excise Tax, the
Accounting Firm shall determine the amount of the Underpayment that has occurred
and any such Underpayment shall be promptly paid by the Company to or for the
benefit of the Executive.

         (c)  The Executive shall notify the Company in writing of any claim by
the Internal Revenue Service that, if successful, would require the payment by
the Company of the Gross-Up Payment.  Such notification shall be given as soon
as practicable but no later than ten business days after the Executive is
informed in writing of such claim and shall apprise the Company of the nature of
such claim and the date on which such claim is requested to be paid.  The
Executive  shall not pay such claim prior to the expiration of the 30-day period
following the date on which it gives such notice to the Company (or such shorter
period ending on the date that any payment of taxes with respect to such claim
is due). If the Company notifies the Executive in writing prior to the
expiration of such period that it desires to contest such claim, the Executive
shall:

                                      -12-
<PAGE>

       (i)   give the Company any information reasonably requested by the
    Company relating to such claim,

       (ii)  take such action in connection with contesting such claim as the
    Company shall reasonably request in writing from time to time, including,
    without limitation, accepting legal representation with respect to such
    claim by an attorney reasonably selected by the Company,

       (iii) cooperate with the Company in good faith in order effectively to
    contest such claim, and

       (iv)  permit the Company to participate in any proceedings relating to
    such claim;

provided, however, that the Company shall bear and pay directly all costs and
expenses (including additional interest and penalties) incurred in connection
with such contest and shall indemnify and hold the Executive harmless, on an
after-tax basis, for any Excise Tax or income tax (including interest and
penalties with respect thereto) imposed as a result of such representation and
payment of costs and expenses.  Without limitation on the foregoing provisions
of this Section 9(c), the Company shall control all proceedings taken in
connection with such contest and, at its sole option, may pursue or forgo any
and all administrative appeals, proceedings, hearings and conferences with the
taxing authority in respect of such claim and may, at its sole option, either
direct the Executive to pay the tax claimed and sue for a refund or contest the
claim in any permissible manner, and the Executive agrees to prosecute such
contest to a determination before any administrative tribunal, in a court of
initial jurisdiction and in one or more appellate courts, as the Company shall
determine; provided, however, that if the Company directs the Executive to pay
such claim and sue for a refund, the Company shall advance the amount of such
payment to the Executive, on an interest-free basis and shall indemnify and hold
the Executive harmless, on an after-tax basis, from any Excise Tax or income tax
(including interest or penalties with respect thereto) imposed with respect to
such advance or with respect to any imputed income with respect to such advance;
and further provided that any extension of the statute of limitations relating
to payment of taxes for the  taxable year of the Executive with respect to which
such contested amount is claimed to be due is limited solely to such contested
amount.  Furthermore, the Company's control of the contest shall be limited to
issues with respect to which a Gross-Up Payment would be payable hereunder and
the Executive shall be entitled to settle or contest, as the case may be, any
other issue raised by the Internal Revenue Service or any other taxing
authority.

         (d)  If, after the receipt by the Executive of an amount advanced by
the Company pursuant to Section 9(c), the Executive becomes entitled to receive
any refund with respect to such claim, the Executive shall (subject to the
Company's complying with the requirements of Section 9(c)) promptly pay to the
Company the amount of such refund (together with any interest paid or credited
thereon after taxes applicable thereto).  If, after the receipt by the Executive
of an amount advanced by the Company pursuant to Section 9(c), a determination
is made that the Executive shall not be entitled to any refund with respect to
such claim and the Company does not notify the Executive in writing of its
intent to contest such denial of refund prior to the expiration

                                      -13-
<PAGE>

of 30 days after such determination, then such advance shall be forgiven and
shall not be required to be repaid and the amount of such advance shall offset,
to the extent thereof, the amount of Gross-Up Payment required to be paid.

         10.  Confidential Information.  The Executive shall hold in a fiduciary
              ------------------------
capacity for the benefit of the Company all secret or confidential information,
knowledge or data relating to the Company or any of its affiliated companies,
and their respective businesses, which shall have been obtained by the Executive
during the Executive's employment by the Company or any of its affiliated
companies and which shall not be or become public knowledge (other than by acts
by the Executive or representatives of the Executive in violation of this
Agreement).  After termination of the Executive's employment with the Company,
the Executive shall not, without the prior written consent of the Company or as
may otherwise be required by law or legal process, communicate or divulge any
such information, knowledge or data to anyone other than the Company and those
designated by it.  In no event shall an asserted violation of the provisions of
this Section 10 constitute a basis for deferring or withholding any amounts
otherwise payable to the Executive under this Agreement.

         11.  Successors.  (a)  This Agreement is personal to the Executive and
              ----------
without the prior written consent of the Company shall not be assignable by the
Executive otherwise than by will or the laws of descent and distribution.  This
Agreement shall inure to the benefit of and be enforceable by the Executive's
legal representatives.

         (b)  This Agreement shall inure to the benefit of and be binding upon
the Company and its successors and assigns.

         (c)  The Company will require any successor (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company to assume
expressly and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such succession
had taken place.  As used in this Agreement, "Company" shall mean the Company as
hereinbefore defined and any successor to its business and/or assets as
aforesaid which assumes and agrees to perform this Agreement by operation of
law, or otherwise.

         12.  Arbitration.  The Executive shall have the right and option to
              -----------
elect (in lieu of litigation) to have any dispute or controversy arising under
or in connection with this Agreement settled by arbitration, conducted before a
panel of three (3) arbitrators sitting in a location selected by the Executive
within fifty (50) miles from the location of his or her job with the Company, in
accordance with the rules of the American Arbitration Association then in
effect.  Judgment may be entered on the award of the arbitrator in any court
having proper jurisdiction.  All expenses of such arbitration, including the
fees and expenses of the counsel for the Executive, shall be borne by the
Company.

                                      -14-
<PAGE>

         13.  Miscellaneous.  (a)  This Agreement shall be governed by and
              -------------
construed in accordance with the laws of the State of Delaware, without
reference to principles of conflict of laws.  The captions of this Agreement are
not part of the provisions hereof and shall have no force or effect.  This
Agreement may not be amended or modified otherwise than by a written agreement
executed by the parties hereto or their respective successors and legal
representatives.

         (b) Any notices, requests, demands and other communications provided
for by this Agreement shall be sufficient if in writing and if sent by
registered or certified mail to the Executive at the last address he had filed
in writing with the Company or, in the case of the Company, to the General
Counsel of the Company, at the Company's principal offices.  Notice and
communications shall be effective when actually received by the addressee.

         (c)  The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision
of this Agreement.

         (d)  The Company may withhold from any amounts payable under this
Agreement such Federal, state, local or foreign taxes as shall be required to be
withheld pursuant to any applicable law or regulation.

         (e)  The Executive's or the Company's failure to insist upon strict
compliance with any provision of this Agreement or the failure to assert any
right the Executive or the Company may have hereunder, including, without
limitation, the right of the Executive to terminate employment for Good Reason
pursuant to Section 5(c)(i)-(v) of this Agreement, shall not be deemed to be a
waiver of such provision or right or any other provision or right of this
Agreement.

                                      -15-
<PAGE>

         IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand
and, pursuant to the authorization from its Board of Directors, the Company has
caused these presents to be executed in its name on its behalf, all as of the
day and year first above written.

                             -------------------------------------
                             [Name]

                             AMSOUTH BANCORPORATION

                             By
                                 ---------------------------------

                                 Its:
                                      ----------------------------

                                      -16-<PAGE>

                                                                    EXHIBIT 10.2

                COMMUNITY TRUST FINANCIAL SERVICES CORPORATION

                            1993 STOCK OPTION PLAN

                                Amended 6/15/99
<PAGE>

                COMMUNITY TRUST FINANCIAL SERVICES CORPORATION

                            1993 STOCK OPTION PLAN
<PAGE>

     1.   Purpose.
          -------

          (a)  General Purpose. The purpose of this COMMUNITY TRUST FINANCIAL
               ---------------
SERVICES CORPORATION 1993 STOCK OPTION PLAN (the "Plan") is to further the
growth and development of Community Trust Financial Services Corporation, a
Georgia corporation (the "Company"), by encouraging key employees to obtain a
proprietary interest in the Company by owning its stock. The Company intends
that the Plan will provide such persons with an added incentive to continue in
the employ of the Company and its subsidiaries and will stimulate their efforts
in promoting the growth, efficiency and profitability of the Company. The
Company also intends that the Plan will afford the Company and its subsidiaries
a means of attracting to its service persons of outstanding quality.

          (b)  Tax Effects of Options. It is further intended that part of the
               ----------------------
Plan qualify as an incentive stock option plan, and that any option granted in
accordance with such portion of the Plan qualify as an incentive stock option
("ISO"), all within the meaning of Section 422 of the Internal Revenue Code of
1986, as amended (the "Code"). The tax effects of any other stock option (a
"Non-ISO") granted hereunder should be determined under Section 83 of the Code.
Unless otherwise specified, the term "Options" shall refer to ISO's, Non-ISO's
and Reload Options (as described in Section 5(m) hereof) granted in connection
therewith.

     2.   Administration.
          --------------

          (a)  General Administration. The Plan shall be administered and
               ----------------------
interpreted by the committee appointed by the Company's Board of Directors (the
"Committee"). Subject to the provisions of the Plan, the Committee shall have
the authority and sole discretion to determine and designate, from time to time,
those persons eligible for a grant of Options under the Plan, those persons to
whom Options are to be granted, and the purchase price (if any) of the shares
covered by any Options granted, the time or times at which Options shall be
granted, the manner in and conditions under which Options are exercisable
(including, without limitation, any limitations or restrictions thereon). In
making such determinations, the Committee may take into account the nature of
the services rendered by the respective persons to whom Options may be granted,
their present and potential contributions to the Company's success and such
other factors as the Committee, in its sole discretion, shall deem relevant.
Subject to the express provisions of the Plan, the Committee also shall have
authority to interpret the Plan, to prescribe, amend and rescind rules and
regulations relating to it, to determine the terms and provisions of the
instruments by which Options shall be evidenced (which shall not be inconsistent
with the terms of the Plan), and to make all other determinations necessary or
advisable for the administration of the Plan, all of which determinations shall
be final, binding and conclusive.

          (b)  Appointments. The Board of Directors shall appoint the Committee
               ------------
from among its members to serve at the pleasure of the Board. The Committee may
consist of the full Board or of two or more members of the Board. The Board may
remove members from, or add members to, the Committee and shall fill all
vacancies thereon.

          (c)  Organization. The Committee may select one of its members as its
               ------------
chairman and shall hold its meetings at such times and at such places as it
shall deem advisable. A majority of the Committee shall constitute a quorum, and
such majority shall determine its actions. The Committee shall keep minutes of
its proceedings and shall report the same to the Board of Directors at the
meeting next succeeding.
<PAGE>

          (d)  Indemnification. In addition to such other rights of
               ---------------
indemnification as they have as directors or as members of the Committee, the
members of the Committee shall be indemnified by the Company against reasonable
expenses (including, without limitation, attorneys' fees) actually and
necessarily incurred in connection with the defense of any action, suit or
proceeding, or in connection with any appeal, to which they or any of them may
be a party by reason of any action taken or failure to act under or in
connection with the Plan or any Options granted hereunder, and against all
amounts paid by them in settlement thereof (provided such settlement is approved
to the extent required by and in the manner provided by the Bylaws of the
Company relating to indemnification of directors) or paid by them in
satisfaction of a judgment in any such action, suit or proceeding, except in
relation to matters as to which it shall be adjudged in such action, suit or
proceeding that such Committee member or members did not act in good faith and
in a manner he or they reasonably believed to be in or not opposed to the best
interest of the Company.

     3.   Stock.
          -----

          The stock subject to the Options and other provisions of the Plan
shall be authorized but unissued or reacquired shares of the $2.50 par value
common stock of the Company (the "Common Stock"). Subject to readjustment in
accordance with the provisions of Section 6, the total number of shares of
Common Stock for which Options may be granted to persons participating in the
Plan shall not exceed in the aggregate 150,000 shares of Common Stock.
Notwithstanding the foregoing, shares of Common Stock allocable to the
unexercised portion of any expired or terminated Option again may become subject
to Options under the Plan.

     4.   Eligibility to Receive Options; Type of Options.
          -----------------------------------------------

          (a)  Key Employees. The persons eligible to receive Options hereunder
               -------------
shall be key employees of the Company and its parent or subsidiary corporations
(and non-corporate entities). ("Parent" and "Subsidiaries" or "Subsidiary"). The
Committee from time to time may select such employees to whom Options are to be
offered and granted hereunder; such selected persons hereinafter are referred to
individually as "Key Employee" and collectively as "Key Employees," and any Key
Employees to whom Options are offered and granted hereunder hereinafter are
referred to individually as "Optionee" and collectively as "Optionees."

          (b)  Grants. The Committee may grant, at any time, new Options to a
               ------
Key Employee who previously has received Options, whether such Options include
prior Options that still are outstanding, previously have been exercised in
whole or in part, have expired or are canceled in connection with the issuance
of new Options.

          (c)  Limitation on Exercisability. Notwithstanding anything herein to
               ----------------------------
the contrary, the aggregate fair market value of ISO's and any other incentive
stock options which are granted to any employee under the Plan or any other
stock option plan adopted by the Company, and its Parent or Subsidiaries, that
are first exercisable in any one calendar year shall not exceed $100,000. As of
the date any ISO or other incentive stock option is granted, the

                                      -2-
<PAGE>

Committee shall determine its fair market value (for purposes of this paragraph)
in accordance with the terms of Section 5 of the Plan. The Committee shall
interpret and administer the limitations set forth in this paragraph in
accordance with Section 422(d) of the Code.

     5.   Terms and Conditions of Options.
          -------------------------------

          Options may be granted to Optionees from time to time and at such
times as may be authorized by the Committee. Subject to the provisions
hereinafter set forth, each Option granted under the Plan shall be designated
either as an ISO or a Non-ISO. In its authorization of the granting of an Option
hereunder, the Committee shall specify the name of the Optionee, the number of
shares of stock subject to such Option and whether such Option is an ISO or a
Non-ISO. The Committee then shall prepare a written agreement, executed and
dated by the Company, evidencing such Option (the "Option Agreement") and
setting forth the terms and conditions of such Option; provided, an Option
Agreement evidencing both an ISO and a Non-ISO shall identify clearly the status
and terms of each Option. The Committee shall present such Option Agreement to
the Optionee. Upon execution of such Option Agreement by the Optionee, such
Option shall be deemed to have been granted effective as of the date of grant
specified in subsection (c)(i) hereof. The failure of the Optionee to execute
the Option Agreement within 30 days after the date of the receipt of same shall
render the Option Agreement and the underlying Option null and void ab initio.
                                                                    -- ------
Option Agreements and the Options granted thereby shall comply with and be
subject to the following terms and conditions:

          (a)  Optionee and Number of Shares. Each Option Agreement shall state
               -----------------------------
the name of the Optionee and the total number of shares of the Common Stock to
which it pertains.

          (b)  Vesting.
               -------

               (i)  Each Option shall first become exercisable (that is, vested)
     with respect to such portions of the shares subject to such Option as are
     specified in the schedule set forth hereinbelow; provided, if an Optionee
     ceases to be an employee of the Company and its Subsidiaries, his right to
     all future vesting shall cease immediately.

                    (A)  Commencing as of the first anniversary of the date the
          Option is granted, the Optionee shall have the right to exercise the
          Option with respect to, and to hereby purchase, 33 percent of the
          shares subject to such Option. Prior to said date, the Option shall be
          unexercisable in its entirety.

                    (B)  Commencing as of the second anniversary of the date the
          Option is granted, the Optionee shall have the right to exercise the
          Option with respect to, and to thereby purchase, an additional 33
          percent of the shares subject to the Option.

                    (C)  Commencing as of the third anniversary of the date the
          Option is granted, the Optionee shall have the right to exercise the
          Option with respect to, and to thereby purchase, the remainder of the
          shares subject to such Option.

                                      -3-
<PAGE>

               (ii)  The Option Agreement and the Optionee's right as to vested
     stock options shall not impose upon the Company and its Subsidiaries any
     obligation to retain the Optionee as an employee for any period."

               (iii) Notwithstanding the above, all Options shall become
     immediately exercisable for 100 percent of the number of shares subject to
     the Options upon a Change in Control (as defined in Section 7 hereof).

          (c)  Option Price.
               ------------

               (i)  The purchase price of the shares of Common Stock underlying
     each Option (the "Option Price") shall be determined by the Committee,
     which determination shall be final, binding and conclusive; provided, in no
     event shall the Option Price of any ISO be less than 100 percent (110
     percent in the case of ISO's of Optionees who own more than 10 percent of
     the voting power of all classes of stock of the Company, a parent
     corporation (within the meaning of Section 424(e) of the Code) of the
     Company (a "Parent"), or a Subsidiary) of the fair market value of the
     Common Stock on the date the Option is granted. Upon execution of an Option
     Agreement by both the Company and Optionee, the date as of which the
     Committee granted the Option shall be considered the date on which such
     Option is granted. Notwithstanding the foregoing, for purposes of
     calculating the holding period described in Sections 5(h) and (k), the
     effective date of the grant of any Option granted prior to the approval of
     the Plan by the shareholders of the Company in accordance with Section 9 of
     the Plan shall be the date of such approval.

               (ii) If the Common Stock subject to the Plan is registered on a
     national securities exchange (as such term is defined by the 1934 Act or is
     regularly traded in the over-the-counter market on the date of
     determination, the fair market value per share shall be the closing price
     of a share of the Common Stock on said national securities exchange or
     over-the-counter market on the date of grant of the Option. If shares are
     publicly traded on a national securities exchange or the over-the-counter
     market but no shares of the Stock are traded on that date (or if records of
     such sales are unavailable or burdensome to obtain) but there were shares
     traded on dates within a reasonable period both before and after such date,
     the fair market value shall be the average of the closing prices of the
     Common Stock on the nearest date before and the nearest date after the date
     of determination. If the Common Stock is traded both on a national
     securities exchange and in the over-the-counter market, the closing price
     shall be determined by the closing price on the national securities
     exchange, unless transactions on such exchange and in the over-the-counter
     market are jointly reported on a consolidated reporting system in which
     case the closing price shall be determined by reference to such
     consolidated reporting system. If the Common Stock is not listed for
     trading on a national securities exchange and is not regularly traded in
     the over-the-counter market, then the Committee shall determine the fair
     market value of the Common Stock from all relevant available facts which
     may include opinions of independent experts as to value and may take into
     account any recent sales and purchases of such Common Stock to the extent
     they are

                                      -4-
<PAGE>

     representative.

          (d)  Terms of Options. Terms of Options granted under the Plan shall
               ----------------
commence on the date of grant and shall expire on such date as the Committee may
determine for each Option; provided, in no event shall any Option be exercisable
after 10 years (5 years in the case of Options granted to Optionees who own more
than 10 percent of the voting power of all classes of stock of the Company, a
Parent or a Subsidiary) from the date the Option is granted. No Option shall be
granted hereunder after 10 years from the earlier of the date the Plan is
approved by the shareholders or is adopted by the Board of Directors.

          (e)  ISO's Converted to Non-ISO's. In the event any part or all of an
               ----------------------------
ISO of an incentive stock option, then such ISO shall be split into an ISO and
Non-ISO so that the portion of the Option, if any, that still qualifies as an
incentive stock option shall remain an ISO, and the portion that does not
qualify as an incentive stock option shall become a Non-ISO. Such split of an
ISO into an ISO portion and a Non-ISO portion shall be evidenced by one or more
Option Agreements, as long as each Option is identified clearly as to its status
as an ISO or Non-ISO.

          (f)  Terms of Exercise. The exercise of an Option may be for less than
               -----------------
the full number of shares of Common Stock subject to such Option, but such
exercise shall not be made for less than the greater of (A) 100 shares or (B)
the total remaining shares subject to the Option. Subject to the other
restrictions on exercise set forth herein, the unexercised portion of an Option
may be exercised at a later date by the Optionee.

          (g)  Method of Exercise. All Options granted hereunder shall be
               ------------------
exercised by written notice directed to the Secretary of the Company at its
principal place of business or to such other person as the Committee may direct.
Each notice of exercise shall identify the Option which the Optionee is
exercising (in whole or in part) and shall be accompanied by payment of the
Option Price for the number of shares specified in such notice and by any
documents required by Section 8(a). The Company shall make delivery of such
shares within a reasonable period of time; provided, if any law or regulation
requires the Company to take any action (including, but not limited to, the
filing of a registration statement under the 1933 Act and causing such
registration statement to become effective) with respect to the shares specified
in such notice before the issuance thereof, then the date of delivery of such
shares shall be extended for the period necessary to take such action.

          (h)  Medium and Time of Payment.
               --------------------------

               (i)   The Option Price shall be payable upon the exercise of the
     Option in an amount equal to the number of shares then being purchased
     times the per share Option Price. Payment, at the election of the Optionee
     [or his successors as provided in Section 5(i)(iii)], shall be (A) in cash;
     (B) by delivery to the Company of a certificate or certificates for shares
     of the Common Stock duly endorsed for transfer to the Company

                                      -5-
<PAGE>

     with signature guaranteed by a member firm of a national stock exchange or
     by a national or state bank or a federally chartered thrift institution (or
     guaranteed or notarized in such other manner as the Committee may require);
     or (C) by a combination of (A) and (B).

               (ii)  If all or part of the Option Price is paid by delivery of
     shares of the Common Stock, the following conditions shall apply:

                     (A)  Such shares shall be valued on the basis of the fair
          market value of the Common Stock on the date of exercise. Fair market
          value shall be determined in the manner provided in Section 5(c)(ii)
          (dealing with determining Option Price);

                     (B)  If the shares of Common Stock used to pay the Option
          Price were acquired through an exercise of Options, Optionee must have
          held such shares of Common Stock for at least 6 months from the date
          of acquisition."

                     (C)  The value of such Common Stock shall be less than or
          equal to the total Option Price payment. If the Optionee delivers
          Common Stock with a value that is less than the total Option Price,
          then such Optionee shall pay the balance of the total Option Price in
          cash.

               (iii) In addition to the payment of the purchase price of the
     shares then being purchased, an Optionee also shall pay in cash (or have
     withheld from his normal pay) an amount equal to the amount, if any, which
     the Company at the time of exercise is required to withhold under the
     income tax withholding provisions of the Code and of the income tax laws of
     the state of the Optionee's residence.

          (i)  Effect of Termination of Employment or Death. Except as provided
               --------------------------------------------
in parts (i), (ii) and (iii) of this subsection, no Option shall be exercisable
unless the Optionee thereof shall have been an employee of the Company and/or a
Subsidiary from the date of the granting of the Option until the date of
exercise; provided, the Committee, in its sole discretion, may waive the
application of this Section 5(i) with respect to any Non-ISO's granted hereunder
and, instead, may provide a different expiration date or dates in a Non-ISO
Option Agreement.

                                      -6-
<PAGE>

               (i)   In the event an Optionee ceases to be an employee of the
     Company and its Subsidiaries for any reason other than death or disability,
     any Option or unexercised portion thereof granted to him shall terminate on
     and shall not be exercisable after the earliest to occur of (a) the
     expiration date of the Option, (b) 3 months after termination of
     employment, or (c) the date on which the Company gives notice to such
     Optionee of termination of employment if employment is terminated by the
     Company because of an act or acts by an Optionee involving fraud,
     dishonesty, theft, embezzlement or similar act (an Optionee's resignation
     in anticipation of termination of employment by the Company because of an
     act or acts of the type listed in this sentence ("cause") shall constitute
     a notice of termination by the Company); provided, the Committee may
     provide in the Option Agreement that such Option or any unexercised portion
     thereof shall terminate sooner. Notwithstanding the foregoing, in the event
     that an Optionee's employment terminates for a reason other than death or
     disability (as provided in the preceding sentence) at any time after a
     Change in Control (as defined in Section 7 hereof), the term of all Options
     of that Optionee shall be extended through the 3-month period immediately
     following the date of such termination; provided, this extension shall
     apply to ISO's only to the extent it does not cause the term of such ISO's
     to exceed the maximum term permitted under Code Section 422 or does not
     cause such ISO's to lose their status as incentive stock options. Prior to
     the earlier of the dates specified in the first sentence of this Section
     (5)(i)(i), the Option shall be exercisable only in accordance with its
     terms and only for the number of shares exercisable on the date of
     termination of employment. The question of whether an authorized leave of
     absence or absence for military or government service or for any other
     reason shall constitute a termination of employment for purposes of the
     Plan shall be determined by the Committee, which determination shall be
     final and conclusive.

               (ii)  Upon the termination of an Optionee's employment due to
     disability, as determined by the Committee in its sole discretion, any
     Option or unexercised portion thereof granted to him which is otherwise
     exercisable shall terminate on and shall not be exercisable after the
     earlier to occur of (a) the expiration date of such Option, or (b) 1 year
     after the date on which such Optionee ceases to be an employee of the
     Company and its Subsidiaries; provided, the Committee may provide in the
     Option Agreement that such Option or any unexercised portion thereof shall
     terminate sooner. Prior to the earlier of such date, such Option shall be
     exercisable only in accordance with its terms and only for the number of
     shares exercisable on the date such Optionee's employment ceases due to
     disability.

                                      -7-
<PAGE>

               (iii) In the event of the death of the Optionee (A) while he is
     an employee of the Company or a Subsidiary, (B) within 3 months after the
     date on which such Optionee's employment terminated (for a reason other
     than cause) as provided in Section (5)(i)(i), or (C) within 1 year after
     the date on which such Optionee's employment terminated due to his
     disability as provided in Section 5(i)(ii), any Option or unexercised
     portion thereof granted to him may be exercised by his personal
     representatives, heirs or legatees at any time prior to the expiration of 1
     year from the date of death of such Optionee, but in no event later than
     the date of expiration of the option period; provided, the Committee may
     provide in the Option Agreement that such Option or any unexercised portion
     thereof shall terminate sooner. Such exercise shall be effected pursuant to
     the terms of this Section 5 as if such personal representatives, heirs or
     legatees are the named Optionee.

          (j)  Restrictions on Transfer and Exercise of Options. No Option shall
               ------------------------------------------------
be assignable or transferable by the Optionee except by will or by the laws of
descent and distribution; and, during the lifetime of an Optionee, the Option
shall be exercisable only by him.

          (k)  Holding Period. No Option granted hereunder may be exercised
               --------------
within the 6-month period immediately following the date of grant (as described
in Section 5(c)(i) hereof).

          (l)  Rights as a Shareholder. An Optionee shall have no rights as a
               -----------------------
shareholder with respect to shares covered by his Option until date of the
issuance of the shares to him and only after the Option Price of such shares is
fully paid. Unless specified in Section 6, no adjustment will be made for
dividends or other rights for which the record date is prior to the date of such
issuance.

          (m)  Reload Options. All Options shall be accompanied by a "Reload
               --------------
Option." A Reload Option shall be an Option that is granted (i) to an Optionee
who pays for exercise of all or part of an Option with shares of the Common
Stock pursuant to subsection 5(h) hereof, (ii) for the same number of shares as
is exchanged in payment for the exercise of such Option; (iii) as of the date of
such payment, and (iv) subject to all of the same terms and conditions as such
Option; provided, the Option Price for shares subject to the Reload Option shall
be determined pursuant to Section 5(c) hereof on the basis of the fair market
value of such shares on the date the Reload Option is granted. In addition, an
Optionee who pays for exercise of a Reload Option with shares of the Common
Stock is entitled to a successive Reload Option. In no event shall the term of
any Reload Option extend beyond the original term of the Option with respect to
which such Reload Option was granted.

          (n)  Miscellaneous Provisions. The Option Agreements authorized under
               ------------------------
the Plan shall contain such other provisions, including, without limitation,
restrictions upon the exercise of the Option as the Committee shall deem
advisable. In the event of any conflict between the provisions of an Option
Agreement and the Plan, the Plan shall control.

          (o)  No Obligation to Exercise Option. The granting of an Option shall
               --------------------------------
impose no obligation upon the Optionee to exercise such Option.

                                      -8-
<PAGE>

     6.   Adjustments Upon Changes in Capitalization.
          ------------------------------------------

          (a)  Recapitalization. In the event that the outstanding shares of the
               ----------------
Common Stock of the Company are hereafter increased or decreased or changed into
or exchanged for a different number or kind of shares or other securities of the
Company by reason of a recapitalization, reclassification, stock split,
combination of shares or dividend payable in shares of the Common Stock, the
following rules shall apply:

               (i)   The Committee shall make an appropriate adjustment in the
     number and kind of shares available for the granting of Options under the
     Plan.

               (ii)  The Committee also shall make an appropriate adjustment in
     the number and kind of shares (A) as to which outstanding Options, or
     portions thereof then unexercised, shall be exercisable; any such
     adjustment in any outstanding Options shall be made without change in the
     total price applicable to the unexercised portion of such Option and with a
     corresponding adjustment in the Option Price per share. No fractional
     shares shall be issued or optioned in making the foregoing adjustments, and
     the number of shares available under the Plan or the number of shares
     subject to any outstanding Options shall be the next lower number of
     shares, rounding all fractions downward.

               (iii) Any adjustment to or assumption of ISO's under this
     subsection (a) shall be made in accordance with Code Section 424(a) and the
     regulations promulgated thereunder so as to preserve the status of such
     ISO's as incentive stock options under Code Section 422.

               (iv)  If any rights or warrants to subscribe for additional
     shares are given pro rata to holders of outstanding shares of the class or
     classes of stock then set aside for the Plan, each Optionee shall be
     entitled to the same rights or warrants on the same basis as holders of the
     outstanding shares with respect to such portion of his Option as is
     exercised on or prior to the record date for determining shareholders
     entitled to receive or exercise such rights or warrants.

          (b)  Reorganization. Subject to any required action by the
               --------------
shareholders, if the Company shall be a party to any reorganization involving
merger, consolidation, acquisition of the stock or acquisition of the assets of
the Company which does not constitute a Change in Control (as defined in Section
7 hereof), the Committee, in its discretion, may declare that:

               (i)   any or all outstanding Options granted hereunder shall
     become immediately nonforfeitable and exercisable (to the extent permitted
     under federal or state securities laws);

               (ii)  any Option granted but not yet exercised shall pertain to
     and apply, with appropriate adjustment as determined by the Committee, to
     the securities of the resulting corporation to which a holder of the number
     of shares of the Common Stock subject to such Options would have been
     entitled; and/or

                                      -9-
<PAGE>

               (iii) any or all Options granted hereunder are to become
     immediately nonforfeitable and exercisable (to the extent permitted under
     federal or state securities laws) and are to be terminated after giving at
     least 30 days' notice to the Key Employees to whom such Options have been
     granted.

          (c)  Dissolution and Liquidation. If the Board adopts a plan of
               ---------------------------
dissolution and liquidation that is approved by the shareholders of the Company,
the Committee shall give each Optionee notice of such event at least 10 days
prior to its effective date, and the rights of all Optionees shall become
immediately nonforfeitable and exercisable (to the extent permitted under
federal or state securities laws).

          (d)  Limits on Adjustments. Any issuance by the Company of stock of
               ---------------------
any class, or securities convertible into shares of stock of any class, shall
not affect, and no adjustment by reason thereof shall be made with respect to,
the number or price of shares of the Common Stock subject to any Option, except
as specifically provided otherwise in this Section 6. The grant of Options
pursuant to the Plan shall not affect in any way the right or power of the
Company to make adjustments, reclassifications, reorganizations or changes of
its capital or business structure or to merge, consolidate or dissolve, or to
liquidate, sell or transfer all or any part of its business or assets. All
adjustments the Committee makes under this Section 6 shall be conclusive.

     7.   Change in Control.
          -----------------

          (a)  Definition of Change in Control. For purposes of the Plan, a
               -------------------------------
     "Change in Control" shall mean the occurrence of any one of the events
     described in this Section 7(a). For purposes of this Section 7, the terms
     used in this Section with an initial capital letter shall have the meanings
     set forth in Section 7(b) unless otherwise defined in the Plan.

               (i)   The acquisition by a Person (including Affiliates and
     Associates of such Person, but excluding the Company, any Subsidiary of the
     Company, or any employee benefit plan of the Company or of any Subsidiary
     of the Company) of a sufficient number of shares of the Common Stock, or
     securities convertible into the Common Stock, and whether through direct
     acquisition of shares or by merger, consolidation, share exchange,
     reclassification of securities, or recapitalization of or involving the
     Company or any Subsidiary of the Company, to constitute the Person the
     actual or beneficial owner of 20 percent or more of the Common Stock, but
     only if such acquisition occurs without approval or ratification by a
     majority of the members of the Board;

               (ii)  Any sale, lease, transfer, exchange, mortgage, pledge or
     other disposition, in one transaction or a series of transactions, of all
     or substantially all of the assets of the Company or of any Subsidiary of
     the Company to a Person described in subsection (i) above, but only if such
     transaction occurs without approval or ratification by a majority of the
     members of the Board; or

                                      -10-
<PAGE>

               (iii) During any fiscal year of the Company, individuals who at
     the beginning of such year constitute the Board cease for any reason to
     constitute at least a majority thereof, unless the election of each
     director who was not a director at the beginning of such period has been
     approved in advance by a majority of the directors in office at the
     beginning of the fiscal year.

          (b)  The following definitions shall apply in determining when a
Change in Control has occurred:

               (i)   "Affiliate" shall have the meaning ascribed to such term in
     Rule 12b-2 of the General Rules and Regulations under the 1934 Act as in
     effect on the effective date of the Plan.

               (ii)  "Associate" shall have the meaning ascribed to such term in
     Rule 12b-2 of the General Rules and Regulations under the 1934 Act.

               (iii) "Person" shall mean any individual, organization,
     corporation, partnership or other entity.

               (iv)  "Subsidiary" shall have the meaning ascribed to such term
     in Rule 12b-2 of the General Rules and Regulations under the 1934 Act.

     8.   Employee's Agreement and Securities Registration.
          ------------------------------------------------

          (a)  Agreement. If, in the opinion of counsel for the Company, such
               ---------
action is necessary or desirable, no Options shall be granted to any Key
Employee, unless, at the time of grant, such Key Employee (i) represents and
warrants that he will acquire the stock for investment only and not for purposes
of resale or distribution, and (ii) makes such further representations and
warranties as are deemed necessary or desirable by counsel to the Company with
regard to holding and resale of the stock. If at the time of the exercise of any
Option, it is necessary or desirable, in the opinion of counsel for the Company,
in order to comply with any applicable laws or regulations relating to the sale
of securities, that the Key Employee represent and warrant that he is purchasing
or acquiring the Common Stock for investment and not with any present intention
to resell or distribute the same or make other and further representations and
warranties with regard to the holding and resale of such shares, the Key
Employee shall, upon the request of the Committee, execute and deliver to the
Company an agreement or affidavit to such effect. Should the Committee have
reasonable cause to believe that such Key Employee did not execute such
agreement in good faith, the Company shall not be bound by the exercise of the
Option. All certificates issued pursuant to the Plan shall be marked with the
following restrictive legend or similar legend, if such marking, in the opinion
of counsel to the Company, is necessary or desirable:

                                      -11-
<PAGE>

     These shares are held by an "affiliate" of the Company (as such term is
     defined in Rule 144 promulgated by the Securities and Exchange Commission
     under the Securities Act of 1933, as amended (the "1933 Act")).
     Accordingly, these shares may not be sold, hypothecated, pledged or
     otherwise transferred, except (i) pursuant to an effective registration
     statement under the 1933 Act and any applicable securities laws or
     regulations of any state (the "State Securities Acts") with respect to such
     shares, (ii) in accordance with said Rule 144, or (iii) upon the issuance
     to the Company of a favorable opinion of counsel or the submission to the
     Company of such other evidence as may be satisfactory to the Company that
     such proposed sale, assignment, encumbrance or other transfer will not be
     in violation of the 1933 Act or any applicable State Securities Acts or any
     rules or regulations thereunder. Any attempted transfer of the certificate
     representing these shares which is in violation of the preceding
     restrictions will not be recognized by the Company, nor will any transferee
     of such shares be recognized as the owner thereof by the Company.

If the Common Stock is held by a Key Employee who is not an affiliate, as that
term is defined in Rule 144 of the 1933 Act, or who ceases to be an affiliate,
the Committee, in its discretion, may dispense with or authorize the removal of
the restrictive legend set forth above.

          (b)  In the event that the Company in its sole discretion shall deem
it necessary or advisable to register, under the 1933 Act or any state
securities acts, any shares with respect to which Options have been granted
hereunder, then the Company shall take such action at its own expense before
delivery of the certificates representing such shares to a Key Employee. In the
event the shares of Common Stock of the Company shall be listed on any national
securities exchange or on the over-the-counter market at the time of the
exercise of an Option, the Company shall make prompt application for the listing
of the shares of Common Stock to be issued on such stock exchange of such
shares, at the sole expense of the Company.

     9.   Effective Date; Amendment and Termination of the Plan.
          -----------------------------------------------------

          (a)  Effective Date. The Plan shall be effective as of January 1,
               --------------
1993, and no Options shall be granted hereunder prior to said date; provided,
adoption of the Plan shall be approved by the shareholders of the Company at the
earlier of (i) the annual meeting of the shareholders of the Company which
immediately follows the date of the first grant or award of Options hereunder,
or (ii) 12 months after the adoption of the Plan by the Board. Shareholder
approval shall be made by a majority of the votes cast at a duly held meeting at
which a quorum representing a majority of all outstanding voting stock is,
either in person or by proxy, present and voting on the Plan. Failure to obtain
such approval shall render the Plan and any Options granted hereunder null and
void ab initio.
     -- ------

                                      -12-
<PAGE>

          (b)  Amendment and Termination. In the event the Board shall determine
               -------------------------
that a portion of the Plan does not qualify as an "Incentive Stock Option Plan"
pursuant to Code Section 422 or that the Plan is not in the best interest of the
Company or its shareholders for any reason, the Board shall have the power to
add to, amend or repeal any of the provisions of the Plan, to suspend the
operation of the entire Plan or any of its provisions for any period or periods
or to terminate the Plan in whole or in part. In the event of any such action,
the Committee shall prepare written procedures which, when approved by the
Board, shall govern the administration of the Plan resulting from such addition,
amendment, repeal, suspension or termination. Notwithstanding the above
provisions, no such addition, amendment, repeal, suspension or termination shall
adversely affect, in any way, the rights of the Key Employees who have
outstanding Options without the consent of such Key Employees, nor may any such
change in the Plan be made without the prior approval of the shareholders of the
Company if (i) such change would cause the applicable portions of the Plan to
fail to qualify as an "incentive stock option plan" pursuant to Code Section
422, or (ii) such shareholder approval is required under Code Section 422, Rule
16b-3, or any other applicable law or regulation. Shareholder approval shall be
made by a majority of the votes cast at a duly held meeting at which a quorum
representing a majority of all outstanding voting stock is, either in person or
by proxy, present and voting at the meeting.

     10.  Application of Funds.
          --------------------

          The proceeds received by the Company from the sale of the Common Stock
subject to the Options granted hereunder will be used for general corporate
purposes.

     11.  Notices.
          -------

          All notices or other communications by a Key Employee to the Committee
pursuant to or in connection with the Plan shall be deemed to have been duly
given when received in the form specified by the Committee at the location, or
by the person, designated by the Committee for the receipt thereof.

     12.  Term of Plan.
          ------------

          Subject to the terms of Section 9(b), the Plan shall terminate upon
the later of (i) the complete exercise or lapse of the last outstanding Option,
or (ii) the last date upon which Options may be granted hereunder.

                                      -13-

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