Document:

hme10k2007ex1072.htm

    Exhibit 10.72

     

    SUMMARY
OF NON-EMPLOYEE DIRECTOR

    COMPENSATION
EFFECTIVE JANUARY 1, 2008

    

    

    The
Registrant’s Board of Directors approved the compensation to be paid in 2008 to
the Registrant’s non-management directors.  A summary of that
compensation is as follows:

    

    Annual
Retainer:  $30,000 annually paid $7,500 per quarter. Norman Leenhouts,
Co-Chair of the Registrant’s Board of Directors will be paid an additional
annual retainer of $100,000 ($25,000 quarterly) for his services as Co-Chair and
for additional services to be rendered in connection with Registrant’s
acquisition and disposition activities.

    

    Additional
Retainer for the Chair of each of the Committees:  $10,000 annually,
paid $2,500 per quarter.

    

    Meeting
Fees: $1,400 per meeting for attendance (in person and by telephone) at Board
and Committee meetings.  A meeting fee will be paid for each meeting
attended regardless of the number of meetings held in a day.

    

    Restricted
Stock:  The number of shares equal to $55,000 divided by the closing
price of a share of the Registrant’s Common Stock on the date of issuance which
will be May 1, 2008, the date of the 2008 stockholders meeting provided that a
new stock benefit plan is approved by the stockholders.

    

    Options
to Purchase Common Stock:  The number of shares equal to $26,000
divided by 12.5% of the closing price of a share of the Registrant’s Common
Stock on the date of grant which will be May 1, 2008, the date of the 2008
stockholders meeting provided that a new stock benefit plan is approved by the
stockholders.

    

    NOTE:   Directors
may defer some or all of the above pursuant to the Director Deferred
Compensation Plan.hme10k2007ex1073.htm

    Exhibit
10.73

    

    SUMMARY
OF NAMED EXECUTIVE OFFICERS’COMPENSATION FOR 2008

    

    The
Registrant’s Board of Directors approved certain components of the compensation
to be paid for the annual period from March 16, 2008 to March 15, 2009
(“2008/2009 Compensation”) to the Registrant’s executive
officers.  Bonus amounts for 2007 service have also been
approved.  A summary of the compensation to be paid to the individuals
who will be the “Named Executives” whose compensation will be disclosed in the
Registrant’s 2008 proxy statement is as follows:

    

    EXECUTIVE
OFFICERS:

    

    1.           Edward J. Pettinella –
President and Chief Executive Officer.  While Mr. Pettinella has an
Employment Agreement that has previously been filed with the Securities and
Exchange Commission, the following items of compensation were subject to the
discretion of the Compensation Committee of the Board of Directors, which has
determined Mr. Pettinella’s 2008/2009 Compensation to be as
follows:

    

    Base Salary:   $550,000
annually

    

    Incentive
Compensation:    A bonus factor of 13 will be applied to Mr.
Pettinella’s 2008/2009 base salary to determine his 2008 incentive compensation
(payable in 2009) pursuant to the Incentive Compensation
Plan.  Payment of 100% of Mr. Pettinella’s incentive compensation is
completely in the discretion of the Compensation Committee.

    

    Restricted
Stock:   To be determined.

    

    Stock
Options:   To be determined.

    

    Bonus for 2007 service:  $
640,947.43

    

    

    2.           David P. Gardner – Chief
Financial Officer and Executive Vice President.

    

    Base
Salary:    $320,000 annually

    

    Incentive
Compensation:   A bonus factor of 9 will be applied to Mr.
Gardner’s 2008/2009 base salary pursuant to the Incentive Compensation Plan to
determine his 2008 incentive compensation payable in 2009.  Payment of
50% of Mr. Gardner’s incentive compensation is within the discretion of other
members of senior management.

    

    Restricted
Stock:   To be determined.

    

    Stock
Options:   To be determined.

    

    Bonus for 2007
service:  $281,246.16

    

    
      
         

      

      
        Exhibit
10.73 - Page 1

        
          

        

      

      
         

      

    

    

    3.           Ann M. McCormick – General
Counsel, Executive Vice President and Secretary.

    

    Base
Salary:    $272,000 annually

    

    Incentive
Compensation:    A bonus factor of 9 will be applied to Mrs.
McCormick’s 2008/2009 base salary pursuant to the Incentive Compensation Plan to
determine her 2008 incentive compensation payable in 2009.  Payment of
50% of Mrs. McCormick’s incentive compensation is within the discretion of other
members of senior management.

    

    Restricted
Stock:   To be determined.

    

    Stock
Options:  To be determined.

    

    Bonus for 2007
service:  $240,575.53

     

    

    4.           Scott A. Doyle – Senior Vice
President.

    

    Base
Salary:    $250,000 annually

    

    Incentive
Compensation:  A bonus factor of 7 will be applied to Mr. Doyle’s
2008/2009 base salary pursuant to the Incentive Compensation Plan to determine
his 2008 incentive compensation payable in 2009.  Payment of 50% of
Mr. Doyle’s incentive compensation is within the discretion of other members of
senior management.

    

    Restricted
Stock:   To be determined.

    

    Stock Options:   To be
determined.

    

    Bonus for 2007
service:  $157,055.24

     

    

    5.           John E. Smith – Senior Vice
President

    

    Base
Salary:    $240,000 annually

    

    Incentive
Compensation:    A bonus factor of 7 will be applied to Mr.
Smith’s 2008/2009 base salary pursuant to the Incentive Compensation Plan to
determine his 2008 incentive compensation payable in 2009.  Payment of
50% of Mr. Smith’s incentive compensation is within the discretion of other
members of senior management.

    

    Restricted
Stock:   To be determined.

    

    Stock
Options:   To be determined.

    

    Bonus for 2007
service:  $150,060.31

    

    
      
         

      

      
        Exhibit
10.73 - Page 2hme10k2007ex1095.htm

    
      Exhibit
10.95

       

      Home Properties,
L.P.

      Amendment No.
Ninety-Five to

      Second Amended
and Restated

      Agreement of
Limited Partnership

       

      The Second Amended and Restated Agreement of
Limited Partnership of Home Properties, L.P. (the “Partnership Agreement”) is
hereby amended effective February 22, 2008 to substitute the “Schedule A”
attached hereto for the “Schedule A” currently attached to the Partnership
Agreement.  “Schedule A” is hereby amended to reflect various
changes.

       

      	
              GENERAL PARTNER

            
	
              Home Properties, Inc.

            
	
               

            
	
               

            
	
               

            
	
              /s/ Ann M. McCormick

            
	
              Ann M. McCormick

            
	
              Secretary

            
	
               

            
	
               

            
	
              LIMITED PARTNERS LISTED ON ATTACHED
      SCHEDULE A

            
	
              By:

            	
              Home Properties, Inc.

            
	
               

            	
              as attorney-in-fact

            
	
               

            
	
               

            
	
               

            
	
              /s/ Ann M. McCormick

            
	
              Ann M. McCormick

            
	
              SecretaryExhibit 10.5(r) 

[FHN LOGO] 

NOTICE OF GRANT 

_________________________________________________________________________________________ 

Stock Option 

D. Bryan Jordan 

You have been granted an option to purchase shares of First Horizon National Corporation common stock as follows: 

  	
        DATE OF GRANT      	    	
        -- 
	   	
        February 25, 2008      
	
        GOVERNING PLAN      	 	    	
        -- 
	 	    	
        2003 Equity Compensation Plan      
	
        OPTION PRICE PER SHARE      	 	    	
        -- 
	 	    	
        $25.00      
	
        TOTAL NUMBER OF SHARES GRANTED      	 	    	
        -- 
	 	    	
        50,000      
	
        VESTING DATE OF SHARES      	 	    	
        -- 
	 	    	
        February 25, 2008      
	
        DATE OPTION EXPIRES      	 	    	
        -- 
	 	    	
        February 25, 2015      

  

       This
      option is granted under the Governing Plan specified above, and is governed
      by the terms and conditions of that Plan and by policies, practices, and
      procedures (“Procedures”) of the Compensation Committee (that
      administers the Plan) that are in effect from time to time during the term
      of this option. This option is granted in lieu of a portion of your bonus
      for 2007 governed by the letter agreement under which you were hired effective
      May 1, 2007. 

        This
      option is subject to possible early termination and forfeiture, even though
      vested, in accordance with the Plan and those Procedures and can result
      in a forfeiture of profit following exercise in certain circumstances as
      provided in the Plan (in particular, in Plan Section 6). As of the date
  of grant, those Procedures provide (among other things) that: 

            (a) forfeiture
    generally will occur immediately upon termination of employment - you must
    remain continuously employed by FHNC or one of its subsidiaries through
    the close of business on the applicable exercise date; 

            (b) however, if
    your termination of employment occurs because of your death, permanent
    disability, or 

  normal retirement (age 65 or later
      with at least 5 years of service), this option will remain outstanding
      and will terminate upon the earliest to occur of (i) the expiration date
      set forth above, (ii) the third anniversary of your termination of employment,
      or (iii) the occurrence of a forfeiture event other than termination of
      employment; 

            (c) if your termination of employment
      occurs because of your early retirement (age 55 or later with at least
      15 years of service), your options will continue to be exercisable as provided
      in clause (b) as if you had normally retired; and 

            (d) if your employment
    is terminated by us involuntarily, this option will remain outstanding
    and will terminate upon the earliest to occur of (i) the expiration date
    set forth above, (ii) the 90th day
      following your termination of employment, or (iii) the occurrence of a
      forfeiture event other than termination of employment. 

        This
      option is nonqualified, so that your exercise of this option is taxable.
      Your withholding and other taxes will depend upon the extent to which our
      stock value exceeds the option price on your exercise date. 

    

Questions about your stock option grant? 

  Important information concerning
      the Plan and this option award is contained in a prospectus. Copies of
      the current prospectus (including all applicable supplements) are delivered
      separately, and you may request a copy of the Governing Plan or prospectus
  at any time. If you have questions about your stock option grant or 

  need a copy of the Governing Plan,
      related prospectus, exercise forms, or current administrative procedures
      for equity awards, contact Ken Bottoms, Total Rewards Manager at (901)
      523-5317. For all your personal stock option information, visit the My
      Stock Options website in the Managing Your Money section of FirstNet. 

    

[Managing Your Money logo]

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