Document:

EX-4.1

 Exhibit 4.1 

AVENUE FINANCIAL HOLDINGS, INC. 
 THE
SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT WHILE A REGISTRATION STATEMENT RELATING
THERETO IS IN EFFECT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR SUCH LAWS. 
 THIS
SECURITY IS NOT A DEPOSIT, BANK ACCOUNT OR OBLIGATION OF ANY BANK. THIS SECURITY IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER AGENCY, AND IS SUBJECT TO INVESTMENT RISK, INCLUDING POSSIBLE LOSS OF PRINCIPAL. 

 AVENUE FINANCIAL HOLDINGS, INC. 

FIXED/FLOATING RATE SUBORDINATED NOTE DUE 2024 

Certificate No.: [    ] 
  

			
	U.S. $[    ]	 	Dated: December 29, 2014

 FOR VALUE RECEIVED, the undersigned, AVENUE FINANCIAL HOLDINGS, INC. a Tennessee corporation (the
“Company”), promises to pay to the order of [    ], or registered assigns (collectively, the “Holder”), the principal amount of $[    ], in the lawful currency of the United
States of America, or such lesser or greater amount as shall then remain outstanding under this Note, at the times and in the manner provided herein, but no later than December 29, 2024 (the “Maturity Date”), or such other date
upon which this Note shall become due and payable, whether by reason of extension, acceleration or otherwise. 
 Reference is hereby made to
the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

[Signatures follow on the next page.] 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	AVENUE FINANCIAL HOLDINGS, INC.
		
	By:	 	 
		 	 Name: G. Kent Cleaver
 Title:
President

 ATTEST: 

	
	
	   

	 Jeremy Yeagle
 Corporate
Secretary

 [REVERSE SIDE OF NOTE] 

AVENUE FINANCIAL HOLDINGS, INC. 

Fixed/Floating Rate Subordinated Note due 2024 

The Company promises to pay interest on the principal amount of this Subordinated Note (the “Note”), commencing on
December 29, 2014 until December 29, 2024 (the “Maturity Date”), or such earlier date as this Note is paid in full, at the interest rate set forth below. The unpaid principal balance of this Note plus all accrued but
unpaid interest thereon shall be due and payable on the Maturity Date, or such earlier date on which such amount shall become due and payable. This Note is one of the Subordinated Notes referred to in that certain Note Purchase Agreement, dated
December 22, 2014, among the Company, the Holder and the other Purchasers and is entitled to the benefits thereof (the “Purchase Agreement”). Capitalized terms not otherwise defined herein shall have the meanings ascribed to
such terms in the Purchase Agreement. 
 1. Computation and Payment of Interest. From and including the date on which the
Subordinated Notes are issued to, but excluding, January 1, 2020 the rate at which the Subordinated Notes including this Note shall bear interest at a rate of 6.75% per annum, computed on the basis of a 360-day year consisting of twelve
30-day months, and payable quarterly in arrears; from and including January 1, 2020 to but excluding the Maturity Date, the rate at which the Subordinated Notes shall bear interest shall be a floating rate equal to Three-Month LIBOR determined
on the determination date of the applicable Interest Period plus 495 basis points, computed on the basis of a 360-day year and the actual number of days elapsed, and payable quarterly in arrears. The date from which interest shall accrue on the
Subordinated Notes shall be December 29, 2014 or the most recent Interest Payment Date to which interest has been paid or duly provided for; the “Interest Payment Dates” for the Subordinated Notes shall be
January 1, April 1, July 1 and October 1 of each year, beginning on April 1, 2015 through the Maturity Date or earlier date of redemption of all of the Subordinated Notes. In the event that any scheduled Interest
Payment Date for the Notes falls on a day that is not a business day, then payment of interest payable on such Interest Payment Date will be postponed to the next succeeding day which is a business day (and no interest on such payment will accrue
for the period from and after such scheduled Interest Payment Date). “Interest Period” means each three-month period beginning on a scheduled Interest Payment Date. Interest on this Note shall be paid in arrears on each Interest
Payment Date to holders of record (each a “Holder”) on the Applicable Record Date. The initial Interest Payment Date shall be April 1, 2015. “Applicable Record Date” shall mean December 15 with respect to
any Interest Payment Date on January 1, March 15 with respect to any Interest Payment Date on April 1, June 15 with respect to any Interest Payment Date on July 1, and September 15 with respect to any Interest
Payment Date on October 1. For purposes of this Subordinated Note, the “Three-Month LIBOR” shall mean that rate for deposits in United States dollars for a three-month period as published by Reuters on Reuters Screen LIBOR03
(or such other page that may replace that page on that service or a successor service) as of 11:00 a.m., London, England, time on the day that is two LIBOR Business Days preceding the first day of such Interest Period (or if not so reported, then as
determined by the Company from another recognized source or interbank quotation, and disclosed to the Holders of the Subordinated Notes). If such rate cannot be so determined for any reason, the Company will request the principal London offices of
at least two banks to 

 
provide a quotation of their rates for deposits in United States dollars for a period comparable to the applicable Interest Period and the Three-Month LIBOR for such Interest Period shall be the
arithmetic mean of such quotations. A “LIBOR Business Day” shall mean a day on which the office of the Company is open for business and on which dealings in United States dollar deposits are carried out on the London interbank
market. 
 2. Payment Procedures. Unless and until the Subordinated Notes shall be evidenced by a global note held by Depository
Trust Company, payment of the principal and interest payable on the Maturity Date will be made by check, or by wire transfer in immediately available funds to a bank account in the United States designated by the registered Holder of this Note if
such Holder shall have previously provided wire instructions to the Company, upon presentation and surrender of this Note at the principal executive office of the Company located at 111 11th
Avenue South, Suite 400, Nashville, Tennessee 37203 (the “Payment Office”), or at such other place or places as the Company shall designate by notice to the registered Holders as the Payment Office, provided that this Note is presented to
the Company in time for the Company to make such payments in such funds in accordance with its normal procedures. Payments of interest (other than interest payable on the Maturity Date) shall be made by wire transfer in immediately available funds
or check mailed to the registered Holder, as such person’s address appears on the Security Register. Interest payable on any Interest Payment Date shall be payable to the Holder in whose name this Note is registered at the close of business on
the Applicable Record Date, next preceding such Interest Payment Date for such Interest Payment Date, except that interest not paid on the Interest Payment Date, if any, will be paid to the Holder in whose name this Note is registered at the close
of business on a Special Record Date fixed by the Company (a “Special Record Date”) notice of which shall be given to the Holder not less than ten (10) calendar days prior to such Special Record Date. (The Applicable Record
Date and Special Record Date are referred to herein collectively as the “Record Dates”). To the extent permitted by applicable law, interest shall accrue, at the rate at which interest accrues on the principal of this Note, on any
amount of principal or interest on this Note not paid when due. All payments on this Note shall be applied first to accrued interest and then the balance, if any, to principal. 

3. Late Payments. If any payment of interest or principal is not paid in full when the same becomes due and payable and such default
continues for a period of fifteen (15) or more business days, the Company shall pay an additional amount equal to four percent (4%) of such late payment to the Holder. 

4. Non-Business Days. Whenever any payment to be made by the Company hereunder shall be stated to be due on a day which is not a
business day, such payment shall be made on the next succeeding business day without change in any computation of interest with respect to such payment (or any succeeding payment). 

5. Subordinated Notes. This Note is one of a duly authorized issue of Subordinated Notes of the Company designated as Fixed/Floating
Rate Subordinated Notes due 2024 (the “Subordinated Notes”), to be issued from time to time by the Company. This Note is entitled to the benefits and subject to the terms of the Purchase Agreement. 

  
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 6. Subordination. The indebtedness of Company evidenced by the Subordinated Notes,
including the principal and interest on this Note, shall be subordinate and junior in right of payment to the following, whether now outstanding or subsequently created, assumed or incurred (collectively, “Senior Indebtedness”):
(a) all indebtedness of the Company for money borrowed, whether or not evidenced by bonds, debentures, securities, notes or other written instruments; (b) any deferred obligations of the Company for the payment of the purchase price of
property or assets acquired other than in the ordinary course of business; (c) all obligations, contingent or otherwise, of the Company in respect of any letters of credit, bankers’ acceptances, security purchase facilities and similar
credit transactions; (d) any capital lease obligations of the Company; (e) all obligations of the Company in respect of interest rate swap, cap or other agreements, interest rate future or option contracts, currency swap agreements,
currency future or option contacts, commodity contracts and other similar arrangements; (f) all obligations of the type referred to in clauses (a) through (e) of other persons for the payment of which Company is responsible or liable
as obligor, guarantor or otherwise; (g) all indebtedness of any Subsidiary of Company including, but not limited to, all obligations and indebtedness referred to clauses (a) through (f) (but in each case referring to such Subsidiary
of Company); and (h) all obligations of the types referred to in clauses (a) through (g) of other persons secured by a lien on any property or asset of the Company; provided, that “Senior Indebtedness” does not include
(i) the Subordinated Notes, (ii) any obligation that by its terms is on parity with the Subordinated Notes, (iii) any indebtedness between Company and any of its Subsidiaries or affiliates, or (iv) the Junior Subordinated
Indebtedness (as defined below). 
 In the event of any insolvency, dissolution, assignment for the benefit of creditors, reorganization,
restructuring of debt, marshaling of assets and liabilities or similar proceedings or any liquidation or winding up of or relating to the Company, whether voluntary or involuntary, holders of Senior Indebtedness shall be entitled to be paid in full
before any payment shall be made on account of the principal of or interest on the Subordinated Notes, including this Note. In the event of any such proceeding, after payment in full of all sums owing with respect to the Senior Indebtedness, the
registered holders of the Subordinated Notes from time to time, together with the holders of any obligations of the Company ranking on a parity with the Subordinated Notes, shall be entitled to be paid from the remaining assets of the Company the
unpaid principal thereof, and the unpaid interest thereon before any payment or other distribution, whether in cash, property or otherwise, shall be made on account of any capital stock or any present or future obligations of the Company ranking
junior to the Subordinated Notes (collectively, “Junior Subordinated Indebtedness”), which includes any obligation that by its terms is subordinated to the Subordinated Notes. 

If there shall have occurred and be continuing (a) a default in any payment with respect to any Senior Indebtedness or (b) an event
of default with respect to any Senior Indebtedness as a result of which the maturity thereof is accelerated, unless and until such payment default or event of default shall have been cured or waived or shall have ceased to exist, no payments shall
be made by the Company with respect to the Subordinated Notes. The provisions of this paragraph shall not apply to any payment with respect to which the immediately preceding paragraph of this Section 6 would be applicable. 

  
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 Nothing herein shall impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of and interest on this Note in accordance with its terms. Nothing herein shall act to prohibit, limit or impede the Company from issuing additional debt of the Company having the same rank as the Subordinated Notes or which may
be junior or senior in rank to the Subordinated Notes. 
 7. Transfer. Except as otherwise provided herein, this Note is transferable
in whole or in part, and may be exchanged for a like aggregate principal amount of Subordinated Notes of other authorized denominations, by the Holder in person, or by his attorney duly authorized in writing, at the Payment Office. The Company shall
maintain a register providing for the registration of the Subordinated Notes and any exchange or transfer thereof (the “Security Register”). Upon surrender or presentation of this Note for exchange or registration of transfer, the
Company shall execute and deliver in exchange therefor a Subordinated Note or Subordinated Notes of like aggregate principal amount, each in a minimum denomination of $50,000 or any amount in excess thereof which is an integral multiple of $1,000
(and, in the absence of an opinion of counsel satisfactory to the Company to the contrary, bearing the restrictive legend(s) set forth hereinabove) and that is or are registered in such name or names requested by the Holder. Any Note presented or
surrendered for registration of transfer or for exchange shall be duly endorsed and accompanied by a written instrument of transfer in such form as is attached hereto and incorporated herein, duly executed by the Holder or his attorney duly
authorized in writing, with such tax identification number or other information for each person in whose name a Subordinated Note is to be issued, and accompanied by evidence of compliance with any restrictive legend(s) appearing on such
Subordinated Note or Subordinated Notes as the Company may reasonably request to comply with applicable law. No exchange or registration of transfer of this Note shall be made on or after the fifteenth day immediately preceding the Maturity Date.
This Note is subject to the restrictions on transfer of the Purchase Agreement between the Company and the original Holders, a copy of which is on file with the Company. 

NOTWITHSTANDING ANY PROVISIONS CONTAINED HEREIN TO THE CONTRARY, THIS NOTE WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN MINIMUM DENOMINATIONS OF $50,000 AND
MULTIPLES OF $1,000 IN EXCESS THEREOF. ANY ATTEMPTED TRANSFER OF THIS NOTE IN A DENOMINATION OF LESS THAN $50,000 SHALL BE DEEMED TO BE VOID AND OF NO LEGAL EFFECT WHATSOEVER. ANY SUCH PURPORTED TRANSFEREE SHALL BE DEEMED NOT TO BE THE HOLDER OF
THIS NOTE FOR ANY PURPOSE, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF PAYMENTS ON THIS NOTE, AND SUCH PURPORTED TRANSFEREE SHALL BE DEEMED TO HAVE NO INTEREST WHATSOEVER IN THIS NOTE. 

8. Optional Redemption. The Company, in its discretion, shall have the right to redeem or prepay any or all of the Subordinated Notes,
including this Note, without premium or penalty prior to the Maturity Date: (a) in whole or in part, at any time on or after January 1, 2020 and prior to the Maturity Date, but in all cases in a principal amount with integral multiples of
$1,000, on any Interest Payment Date; or (b) in whole, at any time, or in part from time to time, upon the occurrence of a Tier 2 Capital Event or a Tax Event, or if the Company is required to register as an investment company pursuant to the
Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) Any such redemption will be at a price equal to 100% of the principal amount of the Note to be redeemed or prepaid on such date, plus interest accrued and unpaid to, but excluding, the date of
redemption or prepayment. Any such redemption or prepayment shall be subject to receipt of any and all required regulatory approvals. 

  
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 In the case of any redemption or prepayment of this Note, the Company will give the
Holders of the Subordinated Notes to be redeemed or prepaid notice not less than 30 nor more than 45 calendar days prior to the redemption or prepayment date as to the aggregate principal amount to be redeemed or prepaid. In a case where the Company
is making a redemption or prepayment with respect to the Subordinated Notes in an amount less than the aggregate principal amount of all of the Subordinated Notes then outstanding, the Company shall make such redemption or prepayment on a pro
rata basis among all outstanding Subordinated Notes based on the relative outstanding principal amounts of each such Subordinated Note; provided, however that the Company may elect to redeem in full any Subordinated Note with an outstanding
principal amount less than $1,000. 
 “Tax Event” shall mean the receipt by the Company of an opinion of independent
tax counsel experienced in such matters to the effect that, as a result of any amendment to, or change (including any announced prospective change) in, the laws or any regulations thereunder of the United States or any political subdivision or
taxing authority thereof or therein, or as a result of any official administrative pronouncement or judicial decision interpreting or applying such laws or regulations, which amendment or change is effective or which pronouncement or decision is
announced on or after the date of original issuance of the Notes, there is more than an insubstantial risk that the interest payable by the Company on the Subordinated Notes is not, or within 90 days of the date of such opinion will not be,
deductible by the Company, in whole or in part, for United States federal income tax purposes. 
 “Tier 2 Capital Event”
shall mean the receipt by the Company of an opinion of independent bank regulatory counsel experienced in such matters to the effect that, as a result of (a) any amendment to, or change (including any announced prospective change) in, the laws
or any regulations thereunder of the United States or any rules, guidelines or policies of an applicable regulatory authority for the Company or (b) any official administrative pronouncement or judicial decision interpreting or applying such
laws or regulations, which amendment or change is effective or which pronouncement or decision is announced on or after the date of original issuance of the Subordinated Notes, the Subordinated Notes do not constitute, or within 90 days of the date
of such opinion will not constitute, Tier 2 Capital (or its then equivalent if the Company were subject to such capital requirement) for purposes of capital adequacy guidelines of the Board of Governors of the Federal Reserve System (or any
successor regulatory authority with jurisdiction over bank holding companies), as then in effect and applicable to the Company. “Tier 2 Capital” has the meaning in Appendix A to 12 C.F.R. Part 222 (“Capital Adequacy
Guidelines for Bank Holding Companies: Risk-Based Measure”), as amended, modified and supplemented and in effect from time to time or any replacement thereof. 

The Company shall have the right to purchase any of the Subordinated Notes at any time in the open market, private transactions or otherwise.
If the Company purchases any Subordinated Notes, it may, in its discretion, hold, resell or cancel any of the purchased Subordinated Notes. 

  
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 9. Merger and Sale of Assets. The Company shall not merge into another entity or convey,
transfer or lease its properties and assets substantially as an entirety to any person, unless: 
 (a) the continuing entity into which the
Company is merged or the person which acquires by conveyance or transfer or which leases the properties and assets of the Company substantially as an entirety shall be a corporation, association or other legal entity organized and existing under the
laws of the United States of America, any State thereof or the District of Columbia and expressly assumes the due and punctual payment of the principal of and any premium and interest on the Subordinated Notes according to their terms, and the due
and punctual performance of all covenants and conditions hereof on the part of the Company to be performed or observed; and 
 (b)
immediately after giving effect to such transaction, no Event of Default (as defined below), and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing. 

10. Affirmative Covenants of the Company. During the time that any portion of the principal balance of this Note is unpaid and
outstanding, the Company shall take or cause to be taken the actions set forth below. 
 (a) Notice of Certain Events. The Company
shall provide written notice to the Holder of the occurrence of the following events as soon as practicable but in no event later than fifteen (15) business days following the Company’s becoming aware of the occurrence of such event: 

(i) the ratio of Tier I capital to average assets (the “Leverage Ratio”) of the Company or the Leverage Ratio of any of the
Company’s banking subsidiaries becomes less than six percent (6.0%); 
 (ii) the Company or any of its banking subsidiaries become
less than “well capitalized” under the then-current regulations of the appropriate federal banking agency; 
 (iii) the Company,
any of the Company’s banking subsidiaries, or any officer of the Company or the Company’s banking subsidiaries becomes subject to a formal, written regulatory enforcement action from the appropriate federal banking agency; or 

(iv) the ratio of (A) non-accrual loans and any other loans that are 90 days or more past due plus other real estate owned (excluding
any such loans that are guaranteed or covered by any governmental agency or government-sponsored entity) to (B) total assets of any banking subsidiary of the Company becomes greater than two and one-half percent (2.5%). 

(b) Compliance with Laws. The Company and each of its subsidiaries shall comply with the requirements of all laws, regulations, orders,
and decrees applicable to it or its properties, except for such noncompliance which would not reasonably be expected to result in a material adverse effect (i) in the condition (financial or otherwise), or in the earnings of the Company and its
subsidiaries considered as one enterprise, without or not arising in the ordinary course of business or (ii) on the ability of the Company to perform its obligations under this Note. 

  
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 (c) Taxes and Assessments. The Company and each of its subsidiaries shall punctually pay
and discharge all taxes, assessments, and other governmental charges or levies imposed upon it or upon its income or upon any of its properties; provided, that no such taxes, assessments or other governmental charges need be paid if they are being
contested in good faith by the Company. 
 (d) Compliance Certificate. Not later than forty-five (45) days following the end of
each fiscal quarter (or, in the case of any fiscal quarter ending on December 31, not later than ninety (90) days from the end of such quarter), the Company shall provide the Holder with a certificate (the “Compliance
Certificate”), executed by the principal executive officer and principal financial officer of the Company in their capacities as such, stating whether (i) the Company has complied with all notice provisions and covenants contained in
this Note; (ii) whether an Event of Default has occurred or not; (iii) whether an event of default has occurred or not under any other indebtedness of the Company; and (iv) whether an event or events have occurred or not that in the
reasonable judgment of the management of the Company would have a material adverse effect on the ability of the Company to perform its obligations under this Note. 

11. Events of Default. An “Event of Default” shall occur under this Note only if: 

(a) there shall be entered a decree or order by a court having jurisdiction in the premises constituting an order for relief in respect of the
Company under Title 11 of the United States Code, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy law or other similar law, or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator, or similar official of the Company or of any substantial part of its properties, or ordering the winding-up or liquidation of the affairs of the Company and any such decree or order shall continue in effect for a period of forty-five
(45) consecutive days; or 
 (b) the Company shall file a petition, answer, or consent seeking relief under Title 11 of the United
States Code, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy law or other similar law, or the Company shall consent to the institution of proceedings thereunder or to the filing of any such petition or to
the appointment of or taking of possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator, or other similar official of the Company or of any substantial part of properties, or the Company shall fail generally to pay its debts
as such debts become due, or the Company shall take any corporate action in furtherance of any such action. 
 12. General Remedies of
Holders. Upon the occurrence of an Event of Default, the Holders of this Note may at any time thereafter, at the Holder’s option, by written notice delivered to the Company, declare the principal of this Note to be immediately due and
payable, whereupon all such amounts shall immediately become absolute and due and payable, without presentment, demand, protest, or notice of any kind, all of which are hereby expressly waived, anything in this Note to the contrary notwithstanding.
The Company, within 30 calendar days after the receipt of written notice from any Holder of the occurrence of an Event of Default with respect to this Note, shall mail to all Holders of Subordinated Notes, at their addresses shown on the security
register, such written notice of Event of Default, unless such Event of Default shall have been cured or waived before the giving of such notice as certified by the Company in writing. 

  
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 13. Failure to Make Payment. In the event of failure by the Company to make any required
payment of principal or interest when due on this Note (and, in the case of payment of interest, such failure to pay shall have continued for 30 calendar days), the Company will, upon demand of the Holder, pay to the Holder the whole amount then due
and payable on this Note for principal and interest (without acceleration), with interest on the overdue principal and interest at the rate borne by this Note, to the extent permitted by applicable law. If the Company fails to pay such amount upon
such demand, the Holder may, among other things, institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company and collect the
amounts adjudged or decreed to be payable in the manner provided by law out of the property of the Company. 
 Upon the occurrence of a
failure by the Company to make any required payment of principal or interest on the Note, the Company shall not (a) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to,
any of the Company’s capital stock, (b) make any payment of principal or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank equal with or junior to the Subordinated Notes, or
(c) make any payments under any guarantee that ranks equal with or junior to the Subordinated Notes, other than: (i) any dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, any
class of Company’s common stock; (ii) any declaration of a dividend in connection with the implementation of a shareholders’ rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of
any such rights pursuant thereto; (iii) as a result of a reclassification of Company’s capital stock or the exchange or conversion of one class or series of Company’s capital stock for another class or series of Company’s capital
stock; (iv) the purchase of fractional interests in shares of Company’s capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged; or (v) purchases of any class
of Company’s common stock related to the issuance of common stock or rights under any of benefit plans for Company’s directors, officers or employees or any of Company’s dividend reinvestment plans. 

14. Successors to the Company. 

(a) Conditions Applicable to Successors. The Company shall not merge with or into, nor sell all or substantially all of its assets to,
any Person unless: 
 (i) such person executes, and delivers to the Holder, a copy of an instrument pursuant to which such person assumes
the due and punctual payment of the principal of and interest on this Note and the performance and observance of all the obligations of the Company under this Note, and 

(ii) immediately after giving effect to the transaction, no Event of Default and no event which after notice or lapse of time or both would
become an Event of Default shall have occurred. 

  
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 (b) Successor As Company. Upon compliance with this Section 14, the Successor shall
succeed to and be substituted for the Company under this Note with the same effect as if the Successor had been named as the Company herein, and the Company shall be released from the obligation to pay the principal of and interest accrued on the
Note. 
 15. Amendments and Waivers. 

(a) Amendment of Notes. Except as otherwise provided in Section 14 hereof, and subject to any necessary regulatory approval, the
Subordinated Notes may, with the consent of the Company and the Holders of at least 51% of the aggregate outstanding principal amount of the Subordinated Notes then outstanding, be amended or any provision, past default, or non-compliance thereof
waived; provided, however, that, without the consent of each Holder of an affected Note, no such amendment or waiver may: 

(i) reduce the principal amount of the Note; 

(ii) reduce the rate of or change the time for payment of interest on any Note; 

(iii) reduce the amount of principal or extend the maturity of any Note; 

(iv) make any change in this Section 15 or in Sections 8 through 13 hereof; 

(v) make any change in Section 6 hereof that adversely affects the rights of any Holder of a Note; or 

(vi) disproportionately affect any of the Holders of the then outstanding Notes. 

(b) Effectiveness of Amendments. An amendment or waiver becomes effective in accordance with its terms and thereafter binds every
Holder of the Subordinated Notes, unless otherwise provided by Section 15(a) above. After an amendment or waiver becomes effective, the Company shall mail to each Holder a copy of such amendment or waiver. The Company may require each Holder to
surrender this Note so that an appropriate notation concerning the amendment or waiver may be placed thereon or a new Note, reflecting the amendment or waiver, exchanged therefor. Even if such a notation is not made or such a new Note is not issued,
such amendment or waiver and any consent given thereto by a Holder of this Note shall be binding according to its terms on any subsequent Holder of this Note. 

(c) Amendments Without Consent of Holders. Notwithstanding Section 15(a) hereof, the Company may amend or supplement this Note
without the consent of the Holders of the Subordinated Notes to cure any ambiguity, defect or inconsistency or to provide for uncertificated Notes in addition to or in place of certificated Notes, or to make any change that does not adversely affect
the rights of any Holder of one of the Subordinated Notes. 

  
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 16. Order of Payments. Any payments made hereunder shall be applied first against costs
and expenses of each Holder hereunder; then against interest due hereunder; and then against principal due hereunder. 
 17. Notices.
All notices and other communications hereunder shall be in writing and, for purposes of this Note, shall be delivered in accordance with, and effective as provided in, the Purchase Agreement. 

18. Conflicts; Governing Law; Venue. In the case of any conflict between the provisions of this Note and the Purchase Agreement, the
provisions of this Note shall control. This Note shall be construed in accordance with, and be governed by the laws of, the State of Tennessee without giving effect to any conflicts of law provisions of such laws. The jurisdiction and venue with
respect to any disputes related to this Note shall be as set forth in the Purchase Agreement. 
 19. Successors and Assigns. This
Note shall be binding upon the Company and inure to the benefit of the Holder and its respective successors and permitted assigns. The Holder may assign all, or any part of, or any interest in, the Holder’s rights and benefits hereunder only to
the extent and in the manner permitted in the Purchase Agreement. To the extent of any such assignment, such assignee shall have the same rights and benefits against the Company and shall agree to be bound by and to comply with the terms and
conditions of the Purchase Agreement as it would have had if it were the Holder hereunder. 
 20. Waivers. Neither any failure nor
any delay on the part of the Holder in exercising any right, power or privilege under this Note shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any other right, power or
privilege. 
 21. Priority. The Subordinated Notes rank pani passu among themselves and pani passu, in the event of any
insolvency proceeding, dissolution, assignment for the benefit of creditors, reorganization, restructuring of debt, marshaling of assets and liabilities or similar proceeding or any liquidation or winding up of the Company, with all other present or
future unsecured subordinated debt obligations of the Company, except any unsecured subordinated debt that may be expressly stated to be senior to or subordinate to the Subordinated Notes. 

  
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 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 I or we assign and
transfer this Note to: 
  
  

(Print or type assignee’s name, address and zip code) 
  

 
 (Insert assignee’s social security
or tax I.D. No.) 
 and irrevocably appoint
                         agent to transfer this Note on the books of the Company. The agent may substitute another to act
for him. 
  

			
	Date:	 	Your Signature:                                
                                         
                

  

			
		
	Signature Guarantee:	 	 

 (Signature must be guaranteed) 
  

 
 Sign exactly as your name appears on the other side of
this Note. 
 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit
unions with membership in an approved signature guarantee medallion program), pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 

The undersigned hereby certifies that it is      /      is not an Affiliate of the Company and that, to its knowledge,
the proposed transferee      is /      is not an Affiliate of the Company. 
 In connection with any
transfer or exchange of this Note occurring prior to the date that is one year after the later of the date of original issuance of this Note and the last date, if any, on which this Note was owned by the Company or any Affiliate of the Company, the
undersigned confirms that this Note is being: 
 CHECK ONE BOX BELOW: 
  

					
			
	            (1)	 		  	acquired for the undersigned’s own account, without transfer; or
			
	            (2)	 		  	transferred to the Company; or
			
	            (3)	 		  	transferred pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”); or
			
	            (4)	 		  	transferred pursuant to an effective registration statement under the Securities Act; or
			
	            (5)	 		  	transferred pursuant to and in compliance with Regulation S under the Securities Act; or
			
	            (6)	 		  	transferred to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) or an “accredited investor” (as defined in Rule 501(a)(4) under the
Securities Act), that has furnished to Company a signed letter containing certain satisfactory representations and agreements establishing such status; or
			
	            (7)	 		  	transferred pursuant to another available exemption from the registration requirements of the Securities Act.

 Unless one of the boxes is checked, the Company will refuse to register this Note in the name of any person other than
the registered Holder thereof; provided, however, that if box (5), (6) or (7) is checked, the Company may require, prior to registering any such transfer of this Note, in its sole discretion, such legal opinions, certifications and
other information as the  

  
 11 

 
Company may reasonably request to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act
such as the exemption provided by Rule 144 under such Act. 

	
	   

	Signature

 Signature Guarantee: 

			
		
	  
 (Signature must be guaranteed)
	  	  
 Signature

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations
and credit unions with membership in an approved signature guarantee medallion program), pursuant to Exchange Act Rule 17Ad-15. 
 TO BE COMPLETED BY
PURCHASER IF BOX (1) OR (3) ABOVE IS CHECKED. 
 The undersigned represents and warrants that it is purchasing this Note for its
own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act and it is aware that the
sale to it is being made in reliance on Rule 144A, and it acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it
is aware that the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 

	
	   

	Signature
	   

	Date

  
 12EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (“Agreement”) is entered into as of this 28th day of January, 2016, and effective as the Effective Date,
as defined in Paragraph 1.9 below, by and among PINNACLE BANK (the “Bank”), a Tennessee state bank; PINNACLE FINANCIAL PARTNERS, INC., a bank holding company incorporated under the laws of the State of Tennessee (the “Company”)
(collectively, the Bank and the Company are referred to hereinafter as the “Employer”), and Ronald L. Samuels, a resident of the State of Tennessee (the “Executive”). 

RECITALS: 
 The Bank
desires to employ the Executive as its Vice Chairman and the Executive desires to accept such employment. 
 In consideration of the above
premises and the mutual agreements hereinafter set forth, the parties hereby agree as follows: 
 1. DEFINITIONS. Whenever used in this
Agreement, the following terms and their variant forms shall have the meaning set forth below: 
 1.1 “AGREEMENT” shall mean this
Agreement and any exhibits incorporated herein together with any amendments hereto made in the manner described in this Agreement. 
 1.2
“AFFILIATE” shall mean any business entity which controls the Company, is controlled by the Company, or is under common control with the Company. 

1.3 “BUSINESS OF THE EMPLOYER” shall mean the business conducted by the Employer, which is the business of commercial banking. 

1.4 “CAUSE” shall mean: 

1.4.1 With respect to termination by the Employer: 

(a) a material breach of the terms of this Agreement by the Executive, including, without limitation, failure by the Executive to perform his
duties and responsibilities in the manner and to the extent required under this Agreement, and that remains uncured after the expiration of thirty (30) days following the delivery of written notice of such breach to the Executive by Employer.
Such notice shall (i) specifically identify the duties that the board of directors of either the Company or the Bank believes that the Executive has failed to perform, (ii) state the facts upon which such board of directors made such
determination, and (iii) be approved by a resolution passed by two-thirds (2/3) of the directors of such board then in office; 

(b) conduct by the Executive that amounts to fraud, dishonesty or willful misconduct in the performance of his duties and responsibilities
hereunder; 
 (c) arrest for, charge in relation to (by criminal information, indictment or otherwise), or conviction of the Executive
during the Term of this Agreement of a crime involving breach of trust or moral turpitude; 

  
 1 

 (d) conduct by the Executive that amounts to gross and willful insubordination or inattention to
his duties and responsibilities hereunder; or 
 (e) conduct by the Executive that results in removal from his position as an officer or
executive of Employer pursuant to a written order by any regulatory agency with authority or jurisdiction over Employer. 
 1.4.2 With
respect to termination by the Executive: 
 (a) a material modification to the Executive’s job title(s) or position(s) of
responsibility or the scope of his authority or responsibilities under this Agreement without the Executive’s written consent; 
 (b)
an adverse change in supervision so that the Executive no longer reports to the person(s) or entity to whom he reported immediately after the Effective Date, which change in supervision is effected without the Executive’s written consent; 

(c) an adverse change in supervisory authority which change in supervisory authority is effected without the Executive’s written consent;

 (d) any change in the Executive’s office location such that the Executive is required to report regularly to a location that is
beyond a 25-mile radius from the Executive’s office location determined immediately after the Effective Date, which change in office location is effected without the Executive’s written consent; and 

(e) any material reduction in salary, bonus opportunity or other benefits provided for in Section 4 below from the level in effect
immediately prior to such reduction; 
 provided, that within 30 days following the initial occurrence of any of the conditions listed in
1.4.2(a) to (e) above, the Executive shall have provided notice to the Employer of the existence of such condition, and the Employer shall not have remedied the condition to the reasonable satisfaction of Executive within 30 days of receiving
such notice. 
 1.5 “CHANGE OF CONTROL” means any one of the following events: 

(a) the acquisition by any person or persons acting in concert of the then outstanding voting securities of either the Bank or the Company,
if, after the transaction, the acquiring person (or persons) owns, controls or holds with power to vote forty percent (40%) or more of any class of voting securities of either the Company or the Bank, as the case may be; 

(b) within any twelve-month period (beginning on or after the Effective Date) the persons who were directors of either the Bank or the Company
immediately before the beginning of such twelve-month period (the “Incumbent Directors”) shall cease to constitute at least a majority of such board of directors; provided that any director who was not a director as of the Effective Date
shall be deemed to be an Incumbent Director if that director were elected to such board of directors by, or on the recommendation of or with the approval of, at least two-thirds of the directors who then qualified as Incumbent Directors; and
provided further that no director whose initial assumption of office is in connection with an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Securities Exchange Act of 1934)
relating to the election of directors shall be deemed to be an Incumbent Director; 

  
 2 

 (c) a reorganization, merger or consolidation, with respect to which persons who were the
stockholders of the Bank or the Company, as the case may be, immediately prior to such reorganization, merger or consolidation do not, immediately thereafter, own more than fifty percent (50%) of the combined voting power entitled to vote in
the election of directors of the reorganized, merged or consolidated Company’s then outstanding voting securities; or 
 (d) the sale,
transfer or assignment of all or substantially all of the assets of the Company and its subsidiaries to any third party. 
 1.6
“COMPANY INFORMATION” means Confidential Information and Trade Secrets. 
 1.7 “CONFIDENTIAL INFORMATION” means data and
information relating to the business of the Bank or the Company (which does not rise to the status of a Trade Secret) which is or has been disclosed to the Executive or of which the Executive became aware as a consequence of or through the
Executive’s relationship to the Employer and which has value to the Employer and is not generally known to its competitors. Confidential Information shall not include any data or information that has been voluntarily disclosed to the public by
the Employer (except where such public disclosure has been made by the Executive without authorization) or that has been independently developed and disclosed by others, or that otherwise enters the public domain through lawful means. 

1.8 “DISABILITY” shall mean the definition of Disability required by Section 409A of the Code. 

1.9 “EFFECTIVE DATE” shall mean the date the merger between the Company and Avenue Financial Holdings, Inc. is consummated. 

1.10 “TERM” shall mean that period of time commencing on the Effective Date and running until the third (3rd) anniversary of
the Effective Date. 
 1.11 “TRADE SECRETS” means information of the Bank or the Company including, but not limited to, technical
or nontechnical data, formulas, patterns, compilations, programs, devices, methods, techniques, drawings, processes, financial data, financial plans, product plans or lists of actual or potential customers or suppliers which: 

(a) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by,
other persons who can obtain economic value from its disclosure or use; and 
 (b) is the subject of efforts that are reasonable under the
circumstances to maintain its secrecy. 
 2. DUTIES. 

2.1 POSITION. The Executive is employed initially as the Vice Chairman of the Bank and, subject to the direction of the Board of Directors of
the Bank or its designees, shall perform and discharge well and faithfully the duties which may be assigned to him from time to time by the Bank in connection with the conduct of its business. 

  
 3 

 2.2 FULL-TIME STATUS. In addition to the duties and responsibilities specifically assigned to the
Executive pursuant to Section 2.1 hereof, the Executive shall: 
 (a) devote substantially all of his time, energy and skill during
regular business hours to the performance of the duties of his employment (reasonable vacations and reasonable absences due to illness excepted) and faithfully and industriously perform such duties; 

(b) diligently follow and implement all reasonable and lawful management policies and decisions communicated to him by the board of directors
of either the Bank or the Company; and 
 (c) timely prepare and forward to the board of directors of either the Bank or the Company all
reports and accountings as may be requested of the Executive. 
 2.3 PERMITTED ACTIVITIES. The Executive shall devote his entire business
time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain,
profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: 
 (a) investing his personal assets
in businesses which (subject to clause (b) below) are not in competition with the Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is
solely that of an investor; 
 (b) purchasing or otherwise acquiring an ownership interest in any entity provided that such interest shall
not result in him collectively owning beneficially at any time five percent (5%) or more of any entity or, to the extent applicable, five percent (5%) or more of the stock, capital or profits of any entity in competition with the Business
of the Employer; and 
 (c) participating in civic and professional affairs and organizations and conferences, preparing or publishing
papers or books or teaching so long as the Company’s and the Bank’s Chief Executive Officer approves of such activities prior to the Executive’s engaging in them. 

Notwithstanding the foregoing provisions of this Section 2.3, the Executive may provide services to any entity and may engage in such
additional investment activities to the extent such services and such additional investment activities have been expressly approved in writing by the board of directors of either the Bank or the Company. 

3. TERM AND TERMINATION. 
 3.1
TERM. This Agreement shall remain in effect for the Term. 
 3.2 TERMINATION. During the Term, the employment of the Executive under this
Agreement may be terminated only as follows: 
 3.2.1 By the Employer: 

  
 4 

 (a) For Cause, upon written notice to the Executive pursuant to Section 1.4.1 hereof, where
the notice has been approved by a resolution passed by two-thirds of the directors of either the Bank or the Company then in office; 
 (b)
Without Cause at any time, provided that the Bank or the Company shall give the Executive thirty (30) days’ prior written notice of its intent to terminate Executive’s employment, in which event the Employer shall be required to
continue to pay Executive’s then current base salary for the remainder of the Term as a severance benefit in accordance with Employer’s normal payroll practices; or 

(c) Upon the Disability of Executive at any time, provided that the Employer shall give the Executive thirty (30) days’ prior
written notice of its intent to terminate Executive’s Employment, in which event, the Employer shall be required to continue to pay Executive’s then current base salary for a period of six (6) months or until the Executive begins
receiving payments under the Employer’s long-term disability policy, whichever occurs first. 
 3.2.2 By the Executive: 

(a) For Cause, in which event the Employer shall be required to continue to pay Executive’s then current base salary for the remainder of
the Term as a severance benefit in accordance with the Employer’s normal payroll practices; or 
 (b) Without Cause or upon the
Disability of the Executive, provided that the Executive shall give the Employer sixty (60) days’ prior written notice of his intent to terminate. 

3.2.3 At any time upon mutual, written agreement of the parties. 

3.2.4 Notwithstanding anything in this Agreement to the contrary, the Term shall end automatically upon the Executive’s death. 

3.3 CHANGE OF CONTROL. If, within twelve (12) months following a Change of Control, the Employer terminates the Executive’s
employment with the Employer under this Agreement without Cause or the Executive terminates his employment with the Employer under this Agreement for Cause, the Executive, or in the event of his subsequent death, his designated beneficiaries or his
estate, as the case may be, shall receive, as liquidated damages, in lieu of all other claims, a severance payment equal to two (2) times the Executive’s then current Base Salary and target bonus amount for the year in which the
Executive’s employment terminates, to be paid in full on the last day of the month following the date of termination. 
 If it shall be
determined that any payment or benefit (within the meaning of Code Section 280G(b)(2)) to the Executive or for the Executive’s benefit paid or payable or distributed or distributable (including, but not limited to, the acceleration of the
time for the vesting or payment of such benefit or payment) pursuant to the terms of this Agreement or otherwise in connection with, or arising out of, the Executive’s employment with the Employer or a Change of Control within the meaning of
Code Section 280G (a “Payment” or “Payments”), would be subject to the excise tax imposed by Code § 4999 (the “Excise Tax”), (i) then the Payments shall be reduced (but not below zero) to the extent
necessary that no portion thereof shall be subject to the excise tax imposed by Code § 4999 (the “Section 4999 Limit”), but only if (ii) the net amount of such Payment, as so reduced, is greater than or equal to the net amount of
such Payment if such reduction were not made and had the Executive paid such Excise Tax. 

  
 5 

 Unless the Executive shall have given prior written notice specifying a different order to the
Bank and the Company to effectuate the limitations described in the immediately preceding paragraph, the Employer shall reduce or eliminate the Payments by first reducing or eliminating those Payments or benefit which are not payable in cash and
then by reducing or eliminating cash Payments, in each case in reverse order beginning with payments or benefits which are to be paid the farthest in time. Any notice given by the Executive pursuant to the preceding sentence shall take precedent
over the provisions of any other plan, arrangement or agreement governing the Executive’s rights and entitlements to any benefits or compensation. 

3.4 EFFECT OF TERMINATION. Upon termination of the Executive’s employment hereunder, the Employer shall have no further obligations to
the Executive or the Executive’s estate with respect to this Agreement, except for the payment of salary and bonus amounts, if any, accrued pursuant to Sections 4.1 and 4.2 hereof and unpaid as of the effective date of the termination of
employment and payments set forth in Sections 3.2.1(b) or (c); Section 3.2.2(a); and/or Section 3.3; as applicable. Nothing contained herein shall limit or impinge upon any other rights or remedies of the Employer or the Executive under
any other agreement or plan to which the Executive is a party or of which the Executive is a beneficiary. 
 3.5 SECTION 409A MATTERS. It is
intended that (i) each payment or installment of payments provided under this Agreement is a separate “payment” for purposes of Code Section 409A and (ii) that the payments satisfy, to the greatest extent possible, the
exemptions from the application of Code Section 409A, including those provided under Treasury Regulations 1.409A-1(b)(4) (regarding short-term deferrals), 1.409A-1(b)(9)(iii) (regarding the two-times, two year exception), and 1.409A-1(b)(9)(v)
(regarding reimbursements and other separation pay). Notwithstanding anything to the contrary in this Agreement, if the Employer determines (i) that on the date of Executive’s separation from service or at such other time that the Employer
determines to be relevant, the Executive is a “specified employee” (as such term is defined under Treasury Regulation 1.409A-1(i)(1)) of the Employer and (ii) that any payments to be provided to the Executive pursuant to this
Agreement are or may become subject to the additional tax under Code Section 409A(a)(1)(B) or any other taxes or penalties imposed under Code Section 409A (“Section 409A Taxes”) if provided at the time otherwise required under
this Agreement, then such payments shall be delayed until the date that is six (6) months after the date of the Executive’s separation from service with the Employer, or such shorter period that, as determined by the Employer, is
sufficient to avoid the imposition of Section 409A Taxes. Any payments delayed pursuant to this Section 3.5 shall be made in a lump sum on the first day of the seventh month following the Executive’s separation from service, or such
earlier date that, as determined by the Employer, is sufficient to avoid the imposition of any Section 409A Taxes 
 4. COMPENSATION.
The Executive shall receive the following salary and benefits during the Term, except as otherwise provided below: 
 4.1 BASE SALARY.
During the Term, the Executive shall be compensated at a base rate of $424,300 per year (the “Base Salary”). The obligation for payment of Base Salary shall be apportioned between the Company and the Bank as they may agree from time to
time in their sole discretion. The Executive’s Base Salary shall be reviewed by the Human Resources and Compensation Committee of the board of directors of the Bank and the Company at least annually,

  
 6 

 
and the Executive shall be entitled to receive annually an increase in such amount, if any, as may be determined by the Human Resources and Compensation Committee of the board of directors of the
Bank and the Company based on its evaluation of Executive’s performance. Base Salary shall be payable in accordance with the Employer’s normal payroll practices. 

4.2 INCENTIVE COMPENSATION. The Executive shall be entitled to annual bonus compensation, if any, as determined by the Human Resources and
Compensation Committee of the board of directors of the Company or the Bank pursuant to any incentive compensation program as may be adopted from time to time by the Company or the Bank. 

4.3 BUSINESS EXPENSES; MEMBERSHIPS. The Employer specifically agrees to reimburse the Executive for: 

(a) reasonable and necessary business (including travel) expenses incurred by him in the performance of his duties hereunder, as approved by
the board of directors of either the Bank or the Company; and 
 (b) beginning as of the Effective Date, the dues and business related
expenditures, including initiation fees, associated with membership in a single civic association as selected by the Executive and in professional associations which are commensurate with his position; provided, however, that the Executive shall, as
a condition of reimbursement, submit verification of the nature and amount of such expenses in accordance with reimbursement policies from time to time adopted by the Employer and in sufficient detail to comply with rules and regulations promulgated
by the Internal Revenue Service. 
 4.4 PERSONAL DAYS. On a non-cumulative basis, the Executive shall be entitled to thirty
(30) personal days in each successive twelve-month period during the Term, during which his compensation shall be paid in full. 
 4.5
BENEFITS. In addition to the benefits specifically described in this Agreement, the Executive shall be entitled to such benefits as may be available from time to time to executives of the Bank similarly situated to the Executive. All such benefits
shall be awarded and administered in accordance with the Bank’s standard policies and practices. Such benefits may include, by way of example only, profit-sharing plans, retirement or investment funds, dental, health, life and disability
insurance benefits and such other benefits as the Bank deems appropriate. 
 4.6 WITHHOLDING. The Employer may deduct from each payment of
compensation hereunder all amounts required to be deducted and withheld in accordance with applicable federal and state income, FICA and other withholding requirements. 

5. COMPANY INFORMATION. 
 5.1
OWNERSHIP OF COMPANY INFORMATION. All Company Information received or developed by the Executive while employed by the Employer will remain the sole and exclusive property of the Employer. 

5.2 OBLIGATIONS OF THE EXECUTIVE. The Executive agrees: 

(a) to hold Company Information in strictest confidence; 

  
 7 

 (b) not to use, duplicate, reproduce, distribute, disclose or otherwise disseminate Company
Information or any physical embodiments of Company Information; and 
 (c) in any event, not to take any action causing or fail to take any
action necessary in order to prevent any Company Information from losing its character or ceasing to qualify as Confidential Information or a Trade Secret. 

In the event that the Executive is required by law to disclose any Company Information, the Executive will not make such disclosure unless
(and then only to the extent that) the Executive has been advised by independent legal counsel that such disclosure is required by law and then only after prior written notice is given to the Employer when the Executive becomes aware that such
disclosure has been requested and is required by law. This Section 5 shall survive for a period of twelve (12) months following termination of this Agreement for any reason with respect to Confidential Information, and shall survive
termination of this Agreement for any reason for so long as is permitted by applicable law, with respect to Trade Secrets. 
 5.3 DELIVERY
UPON REQUEST OR TERMINATION. Upon request by the Employer, and in any event upon termination of his employment with the Employer, the Executive will promptly deliver to the Employer all property belonging to the Employer, including, without
limitation, all Company Information then in his possession or control. The Executive agrees that the covenants contained in Section 5 of this Agreement are of the essence of this Agreement; that the covenants are reasonable and necessary to
protect the business, interests and properties of the Employer. 
 6. NONCOMPETITION AND NONSOLICITATION. The Executive acknowledges that the services to be
rendered by the Executive to the Employer are of a special and unique character. The Executive agrees that, in consideration of the benefits provided for herein and his continued employment, the Executive will not, for three (3) years following
the date of termination of Executive’s employment whether by Executive or the Employer or at any time during which the Employer is making payments to Executive under the terms of this Agreement, either on the Executive’s own account or for
any other person or entity, directly or indirectly, within the Nashville-Davidson-Murfreesboro-Columbia, TN Combined Statistical Area, (i) engage, whether as principal, agent, investor, representative, shareholder, officer, employee, consultant
or otherwise, with or without remuneration in any form, in any activity or business venture that is competitive with the Business of the Employer, (ii) solicit or endeavor to solicit away from the Employer any person who was, during any portion
of the Executive’s employment with the Employer, a director, officer, employee, agent or consultant of the Employer, whether or not such person would commit a breach of such person’s contract of employment by reason of leaving the service
of the Employer, or (iii) service, solicit or endeavor to solicit away any of the clients or customers of the Employer. 
 The Employer’s
obligation to make payments or provide for any benefits under this Agreement will cease upon a violation by Executive of the preceding provisions of this Section 6. The Executive acknowledges that the Employer may be severely and irreparably
damaged in the event the Executive violates the provisions of this Section 6, and that the extent of the damage may be difficult or impossible to determine. Therefore, the Executive agrees that, in addition to the remedies provided above, the
Employer will be entitled to equitable relief, including a preliminary as well as a permanent injunction (without the necessity of posting a bond). The Executive’s agreement as set forth in this Section 6 will (i) continue throughout
the duration of the Executive’s employment with the Employer; and (ii) survive the termination of this Agreement and/or the termination of the Executive’s employment with the Employer, whether or not such termination is voluntary or
is the result of termination of the Executive by the Employer with or without Cause. 

  
 8 

 Executive acknowledges that he is also a party to that certain Amended and Restated Employment Agreement dated as
of August 20, 2014 by and between Executive and Avenue Financial Holdings, Inc. (the “Employment Agreement”) pursuant to which he has agreed to restrictions on his ability to compete with Avenue Financial Holdings, Inc. or solicit,
among others, Avenue Financial Holdings, Inc.’s customers and employees. Executive further acknowledges that the restrictions contained in the Employment Agreement shall survive the termination of the Employment Agreement, are in addition to
those contained herein, may be more restrictive than those contained herein and that the Employer, as successor to Avenue Financial Holdings, Inc. shall be entitled to the protections afforded under both this Agreement and the Employment Agreement.

 If any restriction in this Section 6 is adjudicated to exceed the time, geographic, service or other limitations permitted by applicable law in the
applicable jurisdiction, then the Executive agrees that such may be modified and narrowed, either by a court or the Employer, to the maximum time, geographic, service or other limitations permitted by applicable law, so as to preserve and protect
the Employer’s legitimate business interest, without negating or impairing any other restrictions or undertaking set forth in this Agreement. 

7. SEVERABILITY. The parties agree that each of the provisions included in this Agreement is separate, distinct and severable from the other
provisions of this Agreement and that the invalidity or unenforceability of any Agreement provision shall not affect the validity or enforceability of any other provision of this Agreement. Further, if any provision of this Agreement is ruled
invalid or unenforceable by a court of competent jurisdiction because of a conflict between the provision and any applicable law or public policy, the provision shall be redrawn to make the provision consistent with and valid and enforceable under
the law or public policy. 
 8. NO SET-OFF BY THE EXECUTIVE. The existence of any claim, demand, action or cause of action by the Executive
against the Employer, or any Affiliate of the Employer, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement by the Employer of any of its rights hereunder. 

9. SERP ASSUMPTION. Employer acknowledges that Executive is also a party to that certain Supplemental Executive Retirement Plan Agreement
dated as of October 26, 2007 by and between Executive and Avenue Bank, and the Bank hereby agrees, in connection with the merger between Avenue Bank and the Bank, to assume such agreement and the benefits and obligations thereunder effective as
of the Effective Date. 
 10. NOTICE. All notices and other communications required or permitted under this Agreement shall be in writing
and, if mailed by prepaid first-class mail or certified mail, return receipt requested, shall be deemed to have been received on the earlier of the date shown on the receipt or three (3) business days after the postmarked date thereof. In
addition, notices hereunder may be delivered by hand or overnight courier, in which event the notice shall be deemed effective when delivered. All notices and other communications under this Agreement shall be given to the parties hereto at the
following addresses: 
 (i) If to the Employer, to it at: 

Hugh M. Queener 
 Chief
Administrative Officer 
 150 Third Avenue South, Suite 900 

Nashville, Tennessee 37201 

  
 9 

 (ii) If to the Executive, to him at the most recent mailing address of the Executive that the
Employer has on record. 
 Either party may notify the other in writing in the event of a change in the address for such notice. 

11. ASSIGNMENT. Neither party hereto may assign or delegate this Agreement or any of its rights and obligations hereunder without the written
consent of the other party to this Agreement. 
 12. WAIVER. A waiver by one party to this Agreement of any breach of this Agreement by the
other party to this Agreement shall not be effective unless in writing, and no waiver shall operate or be construed as a waiver of the same or another breach on a subsequent occasion. 

13. ARBITRATION. Any controversy or claim arising out of or relating to this contract, or the breach thereof, shall be settled by binding
arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association. Judgment upon the award rendered by the arbitrator may be entered only in a state court of Tennessee or the federal district court for the
Middle District of Tennessee. The Employer and the Executive agree to share equally the fees and expenses associated with the arbitration proceedings. 

14. ATTORNEYS’ FEES. In the event that the parties have complied with this Agreement with respect to arbitration of disputes and
litigation ensues between the parties concerning the enforcement of an arbitration award, the party prevailing in such litigation shall be entitled to receive from the other party all reasonable costs and expenses, including without limitation
attorneys’ fees, incurred by the prevailing party in connection with such litigation, and the other party shall pay such costs and expenses to the prevailing party promptly upon demand by the prevailing party. 

15. APPLICABLE LAW. This Agreement shall be construed and enforced under and in accordance with the laws of the State of Tennessee. 

16. INTERPRETATION. Words importing any gender include all genders. Words importing the singular form shall include the plural and vice versa.
The terms “herein”, “hereunder”, “hereby”, “hereto”, “hereof” and any similar terms refer to this Agreement. Any captions, titles or headings preceding the text of any article, section or subsection
herein are solely for convenience of reference and shall not constitute part of this Agreement or affect its meaning, construction or effect. 

17. ENTIRE AGREEMENT. This Agreement embodies the entire and final agreement of the parties on the subject matter stated in this Agreement. No
amendment or modification of this Agreement shall be valid or binding upon the Employer or the Executive unless made in writing and signed by both parties. Except as set forth in Section 6 hereof with respect to the survival of the
non-competition and non-solicitation provisions of the Employment Agreement, which shall continue to be in full force and effect from and after the date hereof, all prior understandings and agreements relating to the subject matter of this
Agreement, including the Employment Agreement, are hereby expressly terminated and superseded as of the Effective Date. 

  
 10 

 18. RIGHTS OF THIRD PARTIES. Nothing herein expressed is intended to or shall be construed to
confer upon or give to any person, firm or other entity, other than the parties hereto and their permitted assigns, any rights or remedies under or by reason of this Agreement. 

19. BINDING AGREEMENT. This Agreement shall inure to the benefit of and be binding upon the Executive, his heirs and personal representatives,
and the Bank and the Company and their respective successors and permitted assigns. 
 20. SURVIVAL. The obligations of the Executive
pursuant to Section 5 and Section 6 shall survive the termination of the employment of the Executive hereunder for the period designated under each of those respective sections. 

21. JOINT AND SEVERAL. The obligations of the Bank and the Company to the Executive hereunder shall be joint and several. 

[Remainder of Page Intentionally Left Blank] 

  
 11 

 IN WITNESS WHEREOF, the Employer and the Executive have executed and delivered this Agreement as
of the date first shown above. 
  

			
	THE EMPLOYER:
	
	PINNACLE BANK
		
	By:	 	/s/ Hugh Queener

 
			
	Print Name:	 	Hugh Queener
	Title:	 	
	
	PINNACLE FINANCIAL PARTNERS, INC.

 
			
		
	By:	 	/s/ Hugh Queener

 
			
	Print Name:	 	Hugh Queener

 
			
	Title:	 	Chief Administrative Officer
	
	THE EXECUTIVE:
	
	/s/ Ronald L. Samuels
	Ronald L. Samuels

  
 12

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