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                                                                   EXHIBIT 10(f)

          AMENDMENTS TO 1990 STOCK OPTION PLAN AND 1995, 1997 AND 2000
                          EMPLOYEE STOCK OPTION PLANS
                    OF FIRST TENNESSEE NATIONAL CORPORATION
                                OCTOBER 18, 2000

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1.       Add to the "Definitions" section of each Plan (Section 2) the following
         new term:

         "Workforce reduction" means any termination of employment of one or
         more employees of the Company or one or more of its subsidiaries as a
         result of the discontinuation by the Company of a business or line of
         business or a realignment of the Company, or a part thereof, or any
         other similar type of event; provided, however, in the case of any such
         event (whether the termination of employment was a result of a
         discontinuation, a realignment, or another event), that the Committee
         or the Board of Directors has designated the event as a "workforce
         reduction" for purposes of this Plan."

2.       Amend Section 9 of each Plan [Section 10 for the 1990 Plan] by adding
         the term "workforce reduction" to the first sentence thereof so that
         the sentence will read as follows:

         "If a person to whom an option has been granted shall cease, for a
         reason other than his or her death, disability, early retirement,
         retirement, workforce reduction, or voluntary resignation, to be
         employed by the Company or a subsidiary, the options shall terminate
         three months after the cessation of employment, unless it terminates
         earlier under other provisions of the Plan."

3.       Add the following new sentences to Section 9 of each Plan [except the
         1990 Plan] at the appropriate location:

         "If the grantee of one or more stock options described in the second
         sentence of Section 7 of the Plan or as to which the number of shares
         awarded was based on a formula which included a percentage of the
         grantee's annual bonus or target bonus or participation in a bonus plan
         shall cease to be employed as a result of a workforce reduction, then
         each of such stock options shall terminate on the date specified by the
         Committee, not to exceed five years after the date of termination,
         unless it terminates earlier under other provisions of the Plan.
         Although such exercise is not limited to the exercise rights which had
         accrued at the date of termination, such exercise shall be subject to
         all applicable conditions and restrictions prescribed in Section 8
         hereof. If the grantee of one or more stock options not described in
         the prior two sentences of this paragraph shall cease to be employed as
         a result of a workforce reduction, then each of such stock options
         shall terminate on the date specified by the Committee, not to exceed
         three years after the date of termination, unless it terminates earlier
         under other provisions of the Plan. Although such exercise is not
         limited to exercise rights which had accrued at the date of
         termination, such exercise

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         shall be subject to all applicable conditions and restrictions
         prescribed in Section 8 hereof."

4.       Add the following new sentences to Section 10 of the 1990 Plan at the
         appropriate location:

         "If the grantee of one or more stock options shall cease to be employed
         as a result of a workforce reduction, then each of such stock options
         shall terminate on the date specified by the Committee, not to exceed
         three years after the date of termination, unless it terminates earlier
         under other provisions of the Plan. Although such exercise is not
         limited to exercise rights which had accrued at the date of
         termination, such exercise shall be subject to all applicable
         conditions and restrictions prescribed in Section 9 hereof."<PAGE>   1
                                                                   EXHIBIT 10(l)

                      FIRST TENNESSEE NATIONAL CORPORATION
                         1995 EMPLOYEE STOCK OPTION PLAN
                   (As Amended and Restated October 18, 2000)

1.       Purpose. The 1995 Employee Stock Option Plan (the "Plan") of First
Tennessee National Corporation and any successor thereto (the "Company") is
designed to enable employees of the Company and its subsidiaries to obtain a
proprietary interest in the Company, and thus to share in the future success of
the Company's business. Accordingly, the Plan is intended as a further means not
only of attracting and retaining outstanding personnel, but also of promoting a
closer identity of interest between employees and shareholders.

2.       DEFINITIONS. As used in the Plan, the following terms shall have the
         respective meanings set forth below:

         (a)      "Change in Control" means the occurrence of any one of the
                  following events:

         (i) individuals who, on January 21, 1997, constitute the Board (the
         "Incumbent Directors") cease for any reason to constitute at least a
         majority of the Board, provided that any person becoming a director
         subsequent to January 21, 1997, whose election or nomination for
         election was approved by a vote of at least three-fourths (3/4) of the
         Incumbent Directors then on the Board (either by a specific vote or by
         approval of the proxy statement of the Company in which such person is
         named as a nominee for director, without written objection to such
         nomination) shall be an Incumbent Director; provided, however, that no
         individual elected or nominated as a director of the Company initially
         as a result of an actual or threatened election contest with respect to
         directors or as a result of any other actual or threatened solicitation
         of proxies or consents by or on behalf of any person other than the
         Board shall be deemed to be an Incumbent Director;

         (ii) any "Person" (as defined under Section 3(a)(9) of the Securities
         Exchange Act of 1934, as amended (the "Exchange Act") and as used in
         Section 13(d) or Section 14(d) of the Exchange Act) is or becomes a
         "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act),
         directly or indirectly, of securities of the Company representing 20%
         or more of the combined voting power of the Company's then outstanding
         securities eligible to vote for the election of the Board (the "Company
         Voting Securities"); provided, however, that the event described in
         this paragraph (ii) shall not be deemed to be a change in control by
         virtue of any of the following acquisitions: (A) by the Company or any
         entity in which the Company directly or indirectly beneficially owns
         more than 50% of the voting securities or interests (a "Subsidiary"),
         (B) by an employee stock ownership or employee benefit plan or trust
         sponsored or maintained by the Company or any Subsidiary, (C) by any
         underwriter temporarily holding securities pursuant to an offering of
         such securities, or (D) pursuant to a Non-Qualifying Transaction (as
         defined in paragraph (iii));

         (iii) the shareholders of the Company approve a merger, consolidation,
         share exchange or similar form of corporate transaction involving the
         Company or any of its Subsidiaries that requires the approval of the
         Company's shareholders, whether for such transaction or the issuance of
         securities in the transaction (a "Business Combination"), unless
         immediately following such Business Combination: (A) more than 50% of
         the total voting power of (x) the corporation resulting from such
         Business Combination (the "Surviving Corporation"), or (y) if
         applicable, the ultimate parent corporation that directly or indirectly
         has beneficial ownership of 100% of the voting securities eligible to
         elect directors of the Surviving Corporation (the "Parent
         Corporation"), is represented by Company Voting Securities that were
         outstanding immediately prior to the

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consummation of such Business Combination (or, if applicable, is represented by
shares into which such Company Voting Securities were converted pursuant to such
Business Combination), and such voting power among the holders thereof is in
substantially the same proportion as the voting power of such Company Voting
Securities among the holders thereof immediately prior to the Business
Combination, (B) no person (other than any employee benefit plan sponsored or
maintained by the Surviving Corporation or the Parent Corporation), is or
becomes the beneficial owner, directly or indirectly, of 20% or more of the
total voting power of the outstanding voting securities eligible to elect
directors of the Parent Corporation (or, if there is no Parent Corporation, the
Surviving Corporation) and (C) at least a majority of the members of the board
of directors of the Parent Corporation (or, if there is no Parent Corporation,
the Surviving Corporation) were Incumbent Directors at the time of the Board's
approval of the execution of the initial agreement providing for such Business
Combination (any Business Combination which satisfies all of the criteria
specified in (A), (B) and (C) above shall be deemed to be a "Non-Qualifying
Transaction"); or

         (iv) the shareholders of the Company approve a plan of complete
         liquidation or dissolution of the Company or a sale of all or
         substantially all of the Company's assets.

         Computations required by paragraph (iii) shall be made on and as of the
date of shareholder approval and shall be based on reasonable assumptions that
will result in the lowest percentage obtainable.

         Notwithstanding the foregoing, a change in control of the Company shall
not be deemed to occur solely because any person acquires beneficial ownership
of more than 20% of the Company Voting Securities as a result of the acquisition
of Company Voting Securities by the Company which reduces the number of Company
Voting Securities outstanding; provided, that if after such acquisition by the
Company such person becomes the beneficial owner of additional Company Voting
Securities that increases the percentage of outstanding Company Voting
Securities beneficially owned by such person, a change in control of the Company
shall then occur.

         (b)      "Committee" means the Stock Option Committee or any successor
                  committee designate by the Board of Directors to administer
                  the Stock Option Plan, as provided in Section 5(a) hereof.

         (c)      "Early Retirement" means termination of employment after an
                  employee has fulfilled all service requirements for an early
                  pension, and before his or her Normal Retirement Date, under
                  the terms of the First Tennessee National Corporation Pension
                  Plan, as amended from time to time.

         (d)      "Quota" means the portion of the total number of shares
                  subject to an option which the grantee of the option may
                  purchase during several periods of the term of the option (if
                  the option is subject to quotas), as provided in Section 8(b)
                  hereof. SAR's are granted, if at all, at the time of granting
                  a stock option. If a stock option is subject to quotas, the
                  related SAR is subject to the same quotas.

         (e)      "Retirement" means termination of employment after an employee
                  has fulfilled all service requirements for a pension under the
                  terms of the First Tennessee National Corporation Pension
                  Plan, as amended from time to time.

         (f)      "Subsidiary" means a subsidiary corporation as defined in
                  Section 425 of the Internal Revenue Code.

         (g)      "Successor" means the legal representative of the estate of a
                  deceased grantee or the person or persons who shall acquire
                  the right to exercise an option or related SAR by bequest or
                  inheritance or by reason of the death of the grantee, as
                  provided in Section 10 hereof.

         (h)      "Term of the Option" means the period during which a
                  particular option or related SAR may be exercised in Section
                  8(a) hereof.

         (i)      "Three months after cessation of employment" means a period of
                  time beginning at 12:01 A.M. on the day following the date
                  notice of termination of employment was given and ending at
                  11:59 P.M.

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                  on the date in the third following month corresponding
                  numerically with the date notice of termination of employment
                  was given (or in the event that the third following month
                  does not have a date so corresponding, then the last day of
                  the third following month).

         (j)      "Five years after (an event occurring on day x)" and "five
                  years from (an event occurring on day x)" means a period of
                  time beginning at 12:01 A.M. on the day following day x and
                  ending at 11:59 P.M. on the date in the fifth following year
                  corresponding numerically with day x (or in the event that the
                  fifth following year does not have a date so corresponding,
                  then the last day of the sixtieth following month).

         (k)      "Voluntary Resignation" means any termination of employment
                  that is not involuntary and that is not the result of the
                  employee's death, disability, early retirement or retirement.

         (l)      "Workforce reduction" means any termination of employment of
                  one or more employees of the Company or one or more of its
                  subsidiaries as a result of the discontinuation by the Company
                  of a business or line of business or a realignment of the
                  Company, or a part thereof, or any other similar type of
                  event; provided, however, in the case of any such event
                  (whether the termination of employment was a result of a
                  discontinuation, a realignment, or another event), that the
                  Committee or the Board of Directors has designated the event
                  as a "workforce reduction" for purposes of this Plan."

3.       EFFECTIVE DATE OF PLAN. The Plan shall become effective when approved
at a shareholder's meeting by the holders of a majority of the shares of Company
common stock present or represented at the meeting and entitled to vote on the
Plan. No options or related SAR's may be granted under the Plan after the month
and day in the year 2005 corresponding to the day before the month and day on
which the Plan becomes effective. The term of option granted on or before such
date may, however, extend beyond that date, but no incentive stock options may
be granted which are exercisable after the expiration of ten (10) years after
the date of the grant.

4.       SHARES SUBJECT TO THE PLAN.

         (a)      The Company may grant options and related SAR's under the Plan
                  authorizing the issuance of no more than 3,000,000 shares of
                  its $1.25 par value common stock, which will be provided from
                  shares purchased in the open market or privately (that became
                  authorized but unissued shares under state corporation law) or
                  by the issuance of previously authorized but unissued shares.

         (b)      When an option is granted under the Plan, the Committee in its
                  sole discretion may include the grant of a SAR permitting the
                  grantee to elect to receive stock or cash or a combination
                  thereof in exchange for the surrender the unexercised related
                  option or portion thereof. Solely with respect to grantees
                  subject to the reporting and short-swing profits provisions of
                  Section 16 of the Securities Exchange Act of 1934 ("Section 16
                  grantees"), the Committee shall have the sole discretion to
                  consent to or disapprove the election of the grantee to
                  receive cash in full or partial settlement of the SAR. With
                  respect to all other grantees, the election is final without
                  any action by the Committee.

         (c)      Shares as to which options and related SAR's previously
                  granted under this Plan shall for any reason lapse shall be
                  restored to the total number available for grant of options.
                  Shares subject to options surrendered in exchange for the
                  exercise of a SAR shall not be restored to the total number
                  available for the grant of options or related SAR's.

5.       PLAN ADMINISTRATION.

         (a)      The Plan shall be administered by a Stock Option Committee
                  (the "Committee") whose members shall be appointed from time
                  to time by, and shall serve at the pleasure of, the Board of
                  Directors of

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                  the Company. In addition, all members shall be directors and
                  shall meet the definitional requirements for "disinterested
                  person" (with any exceptions therein permitted) contained in
                  the then current SEC Rule 16b-3 or any successor provision.

         (b)      The Committee shall adopt such rules of procedure as it may
                  deem proper.

         (c)      The powers of the Committee shall include plenary authority to
                  interpret the Plan, and subject to the provisions hereof, to
                  determine the persons to whom options and related SAR's shall
                  be granted, the number of shares subject to each option and
                  related SAR, the term of option and related SAR, and the date
                  on which options and related SAR's shall be granted.

6.       ELIGIBILITY.

         (a)      Options and related SAR's may be granted under the Plan to
                  employees of the Company or any subsidiary selected by the
                  Committee. Determination by the Committee of the employees to
                  whom options and related SAR's shall be granted shall be
                  conclusive.

         (b)      An individual may receive more than one option and related
                  SAR, subject, however, to the following limitations: (i) in
                  the case of an incentive stock option (as described in Section
                  422A of the Internal Revenue Code of 1986), the aggregate fair
                  market value (determined at the time the options are granted)
                  of the Company's common stock with respect to which incentive
                  stock options are exercisable for the first time during any
                  calendar year by any individual employee (under this Plan and
                  all other similar plans of the Company and its subsidiaries)
                  shall not exceed $100,000, and (ii) the maximum number of
                  shares with respect to which options or SAR's are granted to
                  an individual during the term of the Plan, as defined in
                  Section 3 hereof, shall not exceed 200,000 shares. Incentive
                  stock options granted hereunder shall be clearly identified as
                  such at the time of grant.

7.       OPTION PRICE. The option price per share to be paid by the grantee to
the Company upon exercise of the option shall be determined by the Committee,
but shall not be less than 100% of the fair market value of the share at the
time the option is granted, nor shall the price per share be less than the par
value of the share. Notwithstanding the prior sentence, the option price per
share may be less than 100% of the fair market value of the share at the time
the option is granted if:

         (a)      The grantee of the option has entered into an agreement with
                  the Company pursuant to which the grant of the option is in
                  lieu of the payment of compensation; and

         (b)      The amount of such compensation when added to the cash
                  exercise price of the option equals at least 100% of the fair
                  market value (at the time the option is granted) of the shares
                  subject to option.

"Fair market value" for purposes of the Plan shall be the mean between the high
and low sales prices at which shares of the Company were sold on the valuation
day as quoted by the Nasdaq Stock Market or, if there were no sales on that day,
then on the last day prior to the valuation day during which there were sales.
In the event that this method of valuation is not practicable, then the
Committee, in its discretion, shall establish the method by which fair market
value shall be determined.

8.       TERMS OR QUOTAS OF OPTIONS AND RELATED SAR'S:

         (a)      TERM. Each option and related SAR granted under the Plan shall
                  be exercisable only during a term (the "Term of the Option")
                  commencing one year, or such other period of time (which may
                  be less than or more than one year) as is determined to be
                  appropriate by the Committee, after the date when the option
                  or related SAR was granted and ending (unless the option and
                  related SAR shall have terminated earlier under other
                  provisions of the Plan) on a date to be fixed by the
                  Committee.

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                  Notwithstanding the foregoing, each option and related SAR
                  granted under the Plan shall become exercisable in full
                  immediately upon a Change in Control.

         (b)      QUOTAS. The Committee shall have authority to grant options
                  and related SAR's exercisable in full at any time during their
                  term, or exercisable in quotas. Quotas or portions thereof not
                  purchased in earlier periods shall be cumulated and be
                  available for purchase in later periods. In exercising his or
                  her option or related SAR, the grantee may purchase less than
                  the full quota available to him or her.

         (c)      EXERCISE OF STOCK OPTIONS. Stock options shall be exercised by
                  delivering, mailing, or transmitting to the Committee or its
                  designee the following items:

                  (i) A notice, in the form, by the method, and at times
                  prescribed by the Committee, specifying the number of shares
                  to be purchased; and

                  (ii) A check or money order payable to the Company for the
                  full option price.

                  In addition, the Committee in its sole discretion may
                  determine that it is an appropriate method of payment for
                  grantees to pay, or make partial payment of, the option price
                  with shares of Company common stock, $1.25 par value, in lieu
                  of cash. In addition, in its sole discretion the Committee may
                  determine that it is an appropriate method of payment for
                  grantees to pay for any shares subject to an option by
                  delivering a properly executed exercise notice together with a
                  copy of irrevocable instructions to a broker to deliver
                  promptly to the Company the amount of sale or loan proceeds to
                  pay the purchase price. To facilitate the foregoing, the
                  Company may enter into agreements for coordinated procedures
                  with one or more brokerage firms. The value of Company common
                  stock surrendered in payment of the exercise price shall be
                  its fair market value, determined pursuant to Section 7, on
                  the date of exercise. Upon receipt of such notice of exercise
                  of a stock option and upon payment of the option price by a
                  method other than a cashless exercise, the Company shall
                  promptly deliver to the grantee (or in the event the grantee
                  has executed a deferral agreement, the Company shall deliver
                  to the grantee at the time specified in such deferral
                  agreement) a certificate or certificates for the shares
                  purchased, without charge to him or her for issue or transfer
                  tax.

         (d)      EXERCISE OF SAR'S. Except as required by subsection 8(e), a
                  SAR shall be exercised by delivering, mailing, or transmitting
                  to the Committee or its designee a notice in the form, by the
                  method, and at times prescribed by the Committee, specifying
                  the grantee's election, in accordance with Subsection 4(b), to
                  receive cash, stock, or a combination thereof in full or
                  partial settlement of the SAR, or a portion thereof.

         (e)      CASH SETTLEMENTS OF SAR'S BY SECTION 16 GRANTEES.
                  Notwithstanding subsection 8(d), solely with respect to
                  Section 16 grantees, an election to receive cash in full or
                  partial settlement of a SAR or a portion thereof and the
                  actual exercise of such SAR shall be made by delivering,
                  mailing, or transmitting, to the Committee or its designee
                  during the period beginning on the third business day
                  following the release for publication of the Company's
                  quarterly or annual sales and earnings and ending on the
                  twelfth business day following such date a notice, in the form
                  and by the method prescribed by the Committee, specifying the
                  grantee's election to receive cash in full or partial
                  settlement of the SAR, or a portion thereof. Such notice shall
                  constitute both the grantee's election to receive cash and the
                  actual exercise of the SAR for a cash settlement.

         (f)      SAR PAYMENTS. Upon the exercise of a SAR in accordance with
                  subsection 8(d), the Company shall promptly deliver to the
                  grantee stock or cash or a combination thereof, in such
                  proportion as has been elected by the grantee pursuant to
                  subsection 8(d), equal to:

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                  (i) The fair market value, as determined in Section 7, of one
                  share of Company common stock on the date of exercise of the
                  SAR: minus

                  (ii)  The option price of the related option; multiplied by

                  (iii) The number of shares subject to option which are being
                  surrendered in exercise of the SAR, or portion thereof.
                  Provided, however, solely for the purpose of exercising an
                  SAR, the per share gain to the grantee as measured by the
                  difference between the fair market value, as described in (i),
                  and the option price, as described in (ii), shall not exceed
                  200% of the option price. For example, if the option price is
                  $12 per share, the gain may not exceed $24 per share or, in
                  this example, be based on a fair market value at the time of
                  exercise in excess of $36.

         (g)      SAR PAYMENTS TO SECTION 16 GRANTEES. Upon the exercise of a
                  SAR in accordance with subsection 9(e), the Company shall
                  promptly deliver to the grantee cash or the combination of
                  stock and cash, in such proportion as has been elected by the
                  grantee and consented to by the Committee pursuant to
                  subsections 4(b) and 8(e), equal to:

                  (i) The highest fair market value, as determined in Section 7,
                  of one share of Company common stock occurring during ten
                  business day period specified in subsection 8(e) during which
                  the grantee makes his election and exercises the SAR; minus

                  (ii)  The option price of the related option; multiplied by

                  (iii) The number of shares subject to option which are being
                  surrendered in exercise of the SAR, or portion thereof.
                  Provided, however, solely for the purpose of exercising an
                  SAR, the per share gain to the grantee as measured by the
                  difference between the fair market value, as described in (i),
                  and the option price, as described in (ii), shall not exceed
                  200% of the option price. For example, if the option price is
                  $12 per share, the gain may not exceed $24 per share or, in
                  this example, be based on a fair market value at the time of
                  exercise in excess of $36.

         (h)      POSTPONEMENTS. The Committee may postpone any exercise of an
                  option or related SAR for such period of time as the Committee
                  in its discretion reasonably believes necessary to prevent any
                  acts or omissions that the Committee reasonably believes will
                  be or will result in the violation of any state or federal
                  law; and the Company shall not be obligated by virtue of any
                  provision of the Plan or the terms of any prior grant of an
                  option or related SAR to recognize the exercise of an option
                  or related SAR or to sell or issue shares during the period of
                  such postponement. Any such postponement shall automatically
                  extend the time within which the option or related SAR may be
                  exercised, as follows: The exercise period shall be extended
                  for a period of time equal to the number of days of the
                  postponement, but in no event shall the exercise period be
                  extended beyond the last day of the postponement for more days
                  than there were remaining in the option or related SAR's
                  exercise period on the first day of the postponement. Neither
                  the Company, nor its directors of officers, shall have any
                  obligation or liability to the grantee of an option or related
                  SAR or to a successor with respect to any shares as to which
                  the option or related SAR shall lapse because of such
                  postponement.

         (i)      NON-TRANSFERABILITY. All options and related SAR's granted
                  under the Plan shall be non-transferable other than by will or
                  by the laws of descent and distribution, subject to Section 10
                  hereof, and an option or related SAR may be exercised during
                  the lifetime of the grantee only by him or her or by his/her
                  guardian or legal representative. Also, if required by the
                  then current Rule 16b-3, or any successor provision, and
                  solely with respect to Section 16 grantees, common stock
                  acquired upon the exercise of an option or related SAR may not
                  be sold for at least six months after acquisition, except in
                  the case of such grantee's death or disability. Also, if
                  required by the then current Rule 16b-3, or any successor
                  provision, and solely with respect to Section 16 grantees,
                  then

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                  notwithstanding anything hereunto the contrary, options and
                  SAR's are not exercisable for at least six months after grant
                  except in the case of death or disability.

         (j)      CERTIFICATES. The stock certificate or certificates to be
                  delivered under this Plan may, at the request of the grantee,
                  be issued in his or her name or, with the consent of the
                  Company, the name of another person as specified by the
                  grantee.

         (k)      RESTRICTIONS. This subsection (k) shall be void and of no
                  legal effect in the event of a Change of Control.
                  Notwithstanding anything in any other section or subsection
                  herein to the contrary, the following provisions shall apply
                  to all options and related SAR's (except options and, if any,
                  related SAR's designated by the Committee as FirstShare
                  options and related SAR's), exercises and grantees. An amount
                  equal to the spread realized in connection with the exercise
                  of an option or SAR within six months prior to a grantee's
                  voluntary resignation shall be paid to the Company by the
                  grantee in the event that the grantee, within six months
                  following voluntary resignation, engages, directly or
                  indirectly, in any activity determined by the Committee to be
                  competitive with any activity of the Company or any of its
                  subsidiaries.

         (l)      TAXES. The Company shall be entitled to withhold the amount of
                  any tax attributable to amounts payable or shares deliverable
                  under the Plan, and the Company may defer making payment or
                  delivery of any benefits under the Plan if any tax is payable
                  until indemnified to its satisfaction. The Committee may, in
                  its discretion and subject to such rules which it may adopt,
                  permit a grantee to satisfy, in whole or in part, any federal,
                  state and local withholding tax obligation which may arise in
                  connection with the exercise of a stock option or SAR, by
                  electing either:

                  (i) To have the Company withhold shares of Company common
                  stock from the shares to be issued upon the exercise of the
                  option or SAR;

                  (ii) To permit a grantee to tender back shares of Company
                  common stock issued upon the exercise of an option or SAR; or

                  (iii) To deliver to the Company previously owned shares of
                  Company common stock having a fair market value equal to the
                  amount of the federal, state, and local withholding tax
                  associated with the exercise of the option or SAR.

         (m)      ADDITIONAL PROVISIONS APPLICABLE TO OPTION AGREEMENTS IN LIEU
                  OF COMPENSATION. If the Committee, in its discretion permits
                  participants to enter into agreements as contemplated by
                  Section 7 herein, then such agreements must be irrevocable and
                  cannot be changed by the participant once made, and such
                  agreements must be made at least prior to the performance of
                  any services with respect to which an option may be granted.
                  Also, solely with respect to Section 16 grantees, the date of
                  the grant of any option pursuant to an agreement contemplated
                  by Section 7 herein must be at least six months after the date
                  on which a participant enters into such agreement, and the
                  exercise price must be determined by reference to the fair
                  market value of the Company's shares on the date of grant. If
                  any participant who enters into such an agreement terminates
                  employment prior to the grant of the option, then the option
                  will not be granted and all compensation which would have been
                  covered by the option will be paid to the participant in cash.

9.       EXERCISE OF OPTION BY GRANTEE ON CESSATION OF EMPLOYMENT. If a person
to whom an option has been granted shall cease, for a reason other than his or
her death, disability, early retirement, retirement, workforce reduction, or
voluntary resignation, to be employed by the Company or a subsidiary, the option
and related SAR shall terminate three months after the cessation of employment,
unless it terminates earlier under other provisions of the Plan. Until the
option or related SAR terminates, it may be exercised by the grantee for all or
a portion of the shares as to which the

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right to purchase had accrued under the Plan at the time of cessation of
employment, subject to all applicable conditions and restrictions provided in
Section 8 hereof. If a person to whom an option or related SAR has been granted
shall retire or become disabled, the option and related SAR shall terminate five
years after the date of early retirement, retirement or disability, unless it
terminates earlier under the Plan. Although such exercise by a retiree or
disabled grantee is not limited to the exercise rights which had accrued at the
date of early retirement, retirement or disability, such exercise shall be
subject to all applicable conditions and restrictions prescribed in Section 8
hereof. If a person shall voluntarily resign, his option and related SAR to the
extent not previously exercised shall terminate at once. In the event that the
sale of certain assets and assumption of certain liabilities (referred to herein
as "the sale of the Division") of the HomeBanc Mortgage Corporation division
(the "Division") of First Horizon Home Loan Corporation occurs, then
notwithstanding anything herein to the contrary, if the grantee of one or more
stock options described in the second sentence of Section 7 of the Plan is
employed by the Division immediately prior to the closing of the sale of the
Division and is not an employee of the Equibanc department of the Division and
if the employment of the grantee of such option or options terminates at the
time of the closing of the sale of the Division, then each of such stock options
shall terminate at 5:00 p.m. Memphis time on the fifth anniversary of the
closing of the sale of the Division (or if such date is not a business day, then
on the immediately preceding business day), unless it terminates earlier under
the Plan. The exercise of each of such options is subject to all applicable
conditions and restrictions provided in Section 8 hereof. If the grantee of one
or more stock options described in the second sentence of Section 7 of the Plan
or as to which the number of shares awarded was based on a formula which
included a percentage of the grantee's annual bonus or target bonus or
participation in a bonus plan shall cease to be employed as a result of a
workforce reduction, then each of such stock options shall terminate on the date
specified by the Committee, not to exceed five years after the date of
termination, unless it terminates earlier under other provisions of the Plan.
Although such exercise is not limited to the exercise rights which had accrued
at the date of termination, such exercise shall be subject to all applicable
conditions and restrictions prescribed in Section 8 hereof. If the grantee of
one or more stock options not described in the prior two sentences of this
paragraph shall cease to be employed as a result of a workforce reduction, then
each of such stock options shall terminate on the date specified by the
Committee, not to exceed three years after the date of termination, unless it
terminates earlier under other provisions of the Plan. Although such exercise is
not limited to exercise rights which had accrued at the date of termination,
such exercise shall be subject to all applicable conditions and restrictions
prescribed in Section 8 hereof.

10.      EXERCISE OF OPTION OR RELATED SAR AFTER DEATH OF GRANTEE. If the
grantee of an option and related SAR shall die while in the employ of the
Company or within three months after ceasing to be an employee, and if the
option and related SAR was in effect at the time of his or her death (whether or
not its term had then commenced), the option and related SAR may, until the
expiration of five years from the date of death of the grantee or until the
earlier expiration of the term of the option and related SAR, be exercised by
the successor of the deceased grantee. Although such exercise is not limited to
the exercise rights which had accrued at the date of death of the grantee, such
exercise shall be subject to all applicable conditions and restrictions
prescribed in Section 8 hereof.

11.      PYRAMIDING OF OPTIONS. The Committee in its sole discretion may from
time to time permit the method of exercising options known as pyramiding (the
automatic application of shares received upon the exercise of a portion of a
stock option to satisfy the exercise price for additional portions of the
option).

12.      SHAREHOLDER RIGHTS. No person shall have any rights of a shareholder by
virtue of a stock option and related SAR except with respect to shares actually
issued to him or her, and issuance of shares shall confer no retroactive right
to dividends.

13.      ADJUSTMENT FOR CHANGES IN CAPITALIZATION. Any increase in the number of
outstanding shares of common stock of the Company occurring through stock splits
or stock dividends after the adoption of the Plan shall be reflected
proportionately:

         (a)      In an increase in the aggregate number of shares then
                  available for the grant of options and related SAR's under the
                  Plan, or becoming available through the termination of options
                  and related SAR's previously granted but unexercised;

                                        8

<PAGE>   9

         (b)      In the number available to grant to any one person;

         (c)      In the number subject to options and related SAR's then
                  outstanding; and

         (d)      In the quotas remaining available for exercise under
                  outstanding options and related SAR's,

and a proportionate reduction shall be made in the per-share option price as to
any outstanding options and related SAR's or portions thereof not yet exercised.
Any fractional shares resulting from such adjustments shall be eliminated. If
changes in capitalization other than those considered above shall occur, the
Board of Directors shall make such adjustments in the number and class of shares
for which options and related SAR's may thereafter be granted, and in the number
and class of shares remaining subject to options and related SAR's previously
granted and in the per-share option price as the Board in its discretion may
consider appropriate, and all such adjustments shall be conclusive; provided,
however, that the Board shall not make any adjustments with respect to the
number of shares subject to previously granted incentive stock options or
available for grant as options if such adjustment would constitute the adoption
of a new plan requiring shareholder approval before further incentive stock
options could be granted.

14.      TERMINATION, SUSPENSION, OR MODIFICATION OF PLAN. The Board of
Directors may at any time terminate, suspend, or modify the Plan, except that
the Board of Directors shall not amend the Plan in violation of law and shall
not, without shareholder approval, make any amendment to the Plan (other than
amendments pursuant to Section 13 herein) that would:

         (a)      Increase the number of shares specified in Section 4(a);

         (b)      Extend the duration of the Plan specified in Section 3; or

         (c)      Modify the class of employees eligible to receive options and
                  related SAR's under the Plan.

No termination, suspension, or modification of the Plan shall adversely affect
any right acquired by any grantee, or by any successor of a grantee (as provided
in Section 10 hereof), under the terms of an option and related SAR's granted
before the date of such termination, suspension, or modification, unless such
grantee or successor shall consent, but it shall be conclusively presumed that
any adjustment for changes in capitalization as provided in Section 13 does not
adversely affect any such right.

15.      APPLICATION OF PROCEEDS. The proceeds received by the Company from the
sale of its shares under the Plan will be used for general corporate purposes.

16.      NO RIGHT TO EMPLOYMENT. Neither the adoption of the Plan nor the
granting of any stock option or SAR shall confer upon the grantee any right to
continue in the employ of the Company or any of its subsidiaries or interfere in
any way with the right of the Company or the subsidiary to terminate such
employment at any time.

17.      SUCCESSORS. This Plan shall bind any successor of the Company, its
assets or its businesses (whether direct or indirect, by purchase, merger,
consolidation or otherwise), in the same manner and to the same extent that the
Company would be obligated under this Plan if no succession had taken place. In
the case of any transaction in which a successor would not by the foregoing
provision or by operation of law be bound by this Plan, the Company shall
require such successor expressly and unconditionally to assume and agree to
perform the Company's obligations under this Plan, in the same manner and to the
same extent that the Company would be required to perform if no such succession
had taken place. The term "Company," as used in the Plan, shall mean the Company
as hereinbefore defined and any successor or assignee to the business or assets
which by reason hereof becomes bound by this Plan.

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