Document:

ex10_h.htm

    
      

    

    Exhibit
10-h

    AMENDED
AND RESTATED

    EMPLOYMENT
AGREEMENT

    

    This
Amended and Restated Employment Agreement ("Agreement") is entered into as
of October 23, 2007 by Trustmark Corporation, a Mississippi corporation (the
"Company"), and Richard
G. Hickson (the "Executive").  The
Company and Executive have entered into this Agreement with reference to the
following facts:

    

    A.           The
Company and Executive entered into that certain Agreement dated as of May 13,
1997, which the Company and Executive amended and restated effective as of March
12, 2002 ("Original
Agreement"); and

    

    B.            The
Company and Executive now desire to amend and restate in its entirety the
Original Agreement as set forth in this Agreement to reflect the provisions of
Section 409A of the Internal Revenue Code of 1986, as amended (“Code”), and the final
regulations issued thereunder.

    

    NOW,
THEREFORE, in consideration of the mutual premises and agreements herein
contained, and other good and valuable consideration, the receipt and adequacy
of which is hereby acknowledged, the parties, intending to be legally bound,
hereby agree as follows:

    

    1.             Term of
Employment.  Subject to Section 5 hereof, the term of the
Executive's employment under this Agreement commenced on the 13th day of May,
1997 (the "Commencement Date"), and shall continue until terminated as provided
in Section 5 (the "Term").

    

    2.             Duties of
Employment.  The Executive agrees for the Term to render his
services to the Company as its President and Chief Executive Officer and such
other office or position with the Company as may be reasonably requested by the
Board of Directors of the Company (the "Board"), and in connection therewith, to
perform such duties commensurate with his office as he shall reasonably be
directed by the Board to perform.  The Executive shall perform such
duties faithfully and diligently at all times.  The Executive shall
have no other employment while he is employed by the Company; provided, however,
that the Executive may serve on the boards of directors of companies which do
not compete with the Company and in such capacity attend regularly scheduled
board meetings to the extent approved in writing in advance by the
Board.  When and if requested to do so by the Board, the Executive
shall serve as a director and officer of any subsidiary or affiliate of the
Company.  The Company shall notify the Executive if it believes that
the Executive has breached any of his obligations under this Section 2; in such
event, the Executive shall have thirty (30) days within which to cure such
breach, other than a breach of his obligation to refrain from employment with
any person or entity other than the Company or any of its subsidiaries or
affiliates.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
              	
                3. 

              	
                Compensation
      and Other Benefits.

              

      

    

    

    3.1.          Salary.  As
his full base compensation for all services to be rendered by the Executive
during the Term, the Company shall pay to the Executive a base salary for each
calendar year of the Term in an amount established each year by the Compensation
Committee of the Board and the Board, but in no event less than $400,000
annually.  Payment shall be made in accordance with the Company's
usual payroll practices for senior executives (not less frequently than
monthly).  The annual base salary set forth in this Section 3, as in
effect at any particular time, shall hereinafter be referred to as the "Base
Salary." The Company shall withhold or cause to be withheld from the Base Salary
(and other wages hereunder) all taxes and other amounts as are required by law
to be withheld.

    

    3.2.          Annual
Bonus.  In addition to the Base Salary, the Executive shall
have the opportunity annually to earn as a bonus seventy percent (70%) of his
Base Salary (the "Target Award Opportunity").  In establishing the
actual bonus earned each year by the Executive (the "Annual Bonus"), the
Compensation Committee of the Board, in consultation with the Executive, shall
have the discretion to increase the Annual Bonus above or decrease the Annual
Bonus below the Target Award Opportunity for that year.  In so doing
the Compensation Committee's determination shall be based upon an assessment of
the performance of both the Executive and the Company taking into consideration
such performance goals as may be established by the Compensation Committee
periodically in consultation with the Executive.  The Executive's
Annual Bonus shall not exceed one hundred percent (100%) of the Base Salary for
any one year.  Any Annual Bonus due hereunder shall be payable to the
Executive no later than the 15th of the
third month following the end of the year to which the Annual Bonus
relates.

    

    3.3.          Stock
Options.  The Company will grant to the Executive stock option
grants from time to time in such amounts as are determined in the sole
discretion of the Compensation Committee of the Board.

    

    3.4.          Vacation.  The
Executive shall be entitled to four (4) weeks of paid vacation for each calendar
year of the Term hereof.  Upon termination of employment, Executive
shall be paid for all unused vacation granted during the year of termination at
the Base Salary rate then existing as soon as practicable after the effective
date of termination in accordance with the Company’s usual payroll practices
(not less frequently than monthly).  The Executive shall not be paid
for any unused vacation if terminated for Cause (as hereinafter
defined).  No payment shall be made for unused vacation from any prior
years.

    

    3.5.         
Participation
in Employee Benefit Plans.  The Executive shall be permitted to
participate in all group life, hospitalization and disability insurance plans,
health programs, pension plans, similar benefit plans or other so-called "fringe
benefit programs" of the Company (the "Employee Benefits") as are now existing
or as may hereafter be revised or adopted and offered to senior executives
generally to the extent the Executive is eligible under the eligibility
provisions of the relevant plan.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
            	
              4. 

            	
              Confidentiality,
      Nonsolicitation and
Noncompete.

            

    

    

    4.1.          Confidentiality.  The
Executive covenants and agrees that all trade secrets, confidential information
(including but not limited to confidential information with respect to
marketing, product offerings or expansion plans), and financial matters of the
Company and its subsidiaries (collectively "Confidential Information") which are
learned by him in the course of his employment by the Company shall be held in a
fiduciary capacity and treated as confidential by him and shall not be
disclosed, communicated or divulged by him or used by him for the benefit of any
person or entity (other than the Company, its subsidiaries or affiliates) unless
expressly authorized in writing by the Board, or unless the Confidential
Information becomes generally available to the public otherwise than through
disclosure by the Executive.

    

    4.2.          Nonsolicitation.  The
Executive agrees that (1) during the period he is employed hereunder and for a
period of twenty-four (24) months thereafter, he will not, without the prior
written consent of the Board, directly or indirectly solicit, entice, persuade,
or induce any employee, director, officer, associate, consultant, agent or
independent contractor of the Company or its subsidiaries (i) to terminate such
person's employment or engagement by the Company or its subsidiaries or (ii) to
become employed by any person, firm partnership, corporation, or other such
enterprise other than the Company, its subsidiaries or affiliates, and (2) he
shall not following the termination of his employment hereunder represent that
he is in any way connected with the business of the Company or its subsidiaries
(except to the extent agreed to in writing by the Company).

    

    4.3.         
Noncompete.  The
Executive agrees that during the period he is employed hereunder and for a
period of twenty four (24) months following the date of termination of his
employment for any reason except Retirement (as defined in Section 5.9), he will
not (except as a representative of the Company or with the prior written consent
of the Board), directly or indirectly, engage, participate or make any financial
investment, as an employee, director, officer, associate, consultant, agent,
independent contractor, lender or investor, in the business of any person, firm,
partnership, corporation or other enterprise that is engaged in direct
competition with the business of the Company in any geographic area in which the
Company is then conducting such business.  Nothing in this Section 4.3
shall be construed to preclude the Executive from making any investments in the
securities of any business enterprise whether or not engaged in competition with
the Company, to the extent that such securities are actively traded on a
national securities exchange or in the over-the-counter market in the United
States or on any foreign securities exchange and represent less than one-percent
(1%) of any class of securities of such business
enterprise.  Executive acknowledges that if his employment with the
Company terminates for any reason, he can earn a livelihood without violating
the foregoing restrictions and that the time period and scope of the foregoing
restrictions are reasonably required for the protection of the Company's valid
business interests.

    

    4.4           Covenant
Payments.  In consideration for the covenants contained in this
Section 4, which are considered material to the Company, the Company agrees to
pay Executive all amounts owed pursuant to this Agreement, and upon Executive's
termination without Cause or Executive’s resignation for Good Reason, to pay
Executive an amount (the "Covenant Payments") equal to
the product of two times the sum of (i) the Executive's Base Salary and (ii) the
highest Annual Bonus earned in any one of the three years preceding the
termination.  Subject to Section 13 hereof, the Covenant Payments
shall be paid in twenty-four (24) equal monthly installments with the first
installment commencing on the 60th day
after the effective date of termination and continuing thereafter on the same
day of each following month until all twenty-four (24) monthly installments are
paid.  In the event of the Executive's death following such date of
termination, any unpaid installments shall be paid to the Executive's estate in
a single undiscounted cash lump sum.  Such lump sum shall be paid on
the 60th day
after the Executive's death.  Notwithstanding anything herein to the
contrary, if the Executive is terminated for Cause or the Executive voluntarily
resigns other than for Good Reason or becomes disabled during the Term, the
Executive will remain subject to the covenants contained in Section 4 but will
not be entitled to the Covenant Payments.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    4.5           Remedies.  The
Company would be damaged irreparably if any provision of Section 4 was not
performed by the Executive in accordance with its terms or was otherwise
breached and that money damages would be an inadequate remedy for any such
nonperformance or breach.  Therefore, the Company or its successors or
assigns shall be entitled, in addition to any other rights and remedies existing
in their favor, including the right to retain the Covenant Payments, to an
injunction or injunctions to prevent any breach or threatened breach of any such
provisions and to enforce such provisions specifically (without posting a bond
or other security).  Executive agrees that Company or its successors
or assigns may retain the Covenant Payments as partially liquidated damages for
such breach and not as a penalty.  The Executive would be damaged
irreparably if any provision of Section 4 was not performed by the Company in
accordance with its terms or was otherwise breached and that money damages would
be an inadequate remedy for any such nonperformance or
breach.  Therefore, the Executive shall be entitled, in addition to
any other rights and remedies existing in his favor, to an injunction or
injunctions to prevent any breach or threatened breach of any such provisions
and to enforce such provisions specifically (without posting a bond or other
security).

    

    
      	
            	
              5. 

            	
              Termination
      and Severance.

            

    

    

    5.1.          Notice of
Termination.  Subject to the provisions of this Agreement, the
Company and the Executive may terminate the Term on thirty (30) days written
notice to the other party, which notice shall specify in detail the cause for
termination, except that no prior written notice need be given by the Company in
the event it terminates the Executive's employment hereunder for Cause (as
hereinafter defined and subject to applicable cure provisions).

    

    5.2.          Resignation.  Except
as otherwise provided in Section 5.7 or 5.8 herein, the Executive may
voluntarily terminate the Term and resign from employment with the Company by
written notice to Company specifying the effective date of such
resignation.  Upon receipt of such notice, the Company shall have the
right to terminate the Term immediately or at such earlier date as the Company
may elect by written notice to the Executive and, in such event the termination
shall be treated as a voluntary termination without Good Reason by the
Executive.  Thereafter, Company shall have no further obligations or
liabilities to Executive, except for obligations to pay the Executive (1) any
unpaid Base Salary and accrued vacation benefits earned through the date of
termination; and, (2) the Annual Bonus earned for the calendar year immediately
preceding the calendar year of termination to the extent not already
paid.  Such unpaid Base Salary and accrued vacation benefits and the
Annual Bonus shall be paid to the Executive in a lump sum as soon as practicable
after the effective date of termination in accordance with the Company’s usual
payroll practices (not less frequently than monthly); provided, however, that if
payment of any such amounts at such time would result in a prohibited
acceleration under Section 409A of the Code, then such amount shall be paid at
the time the amount would otherwise have been paid under the applicable plan,
policy, program or arrangement relating to such amount absent such prohibited
acceleration.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    5.3.          Death.  In
the event of the Executive's death during the Term, the Term and the Executive's
employment shall terminate automatically, and Company shall pay to his spouse or
designated beneficiary, or if none, to his estate (1) any unpaid Base Salary and
accrued vacation benefits earned through the date of death, (2) the Annual Bonus
earned for the calendar year immediately preceding the calendar year of death to
the extent not already paid, and (3) a pro rata share of the Target Award
Opportunity for the calendar year of Executive’s death (calculated on the basis
of the number of days elapsed in such year through the date of
death).  The Company shall pay to the Executive, his spouse,
designated beneficiary or estate, as the case may be, such unpaid base salary
and accrued vacation benefits and such Annual Bonus in a lump sum as soon as
practicable after the effective date of termination of the Executive’s
employment on account of his death in accordance with the Company’s usual
payroll practices (not less frequently than monthly) and the pro-rata share of
the Target Award Opportunity in a single lump sum on the 60th day
following termination of the Executive's employment on account of his death;
provided, however, that if payment of any such amounts at such time would result
in a prohibited acceleration under Section 409A of the Code, then such amount
shall be paid at the time the amount would otherwise have been paid under the
applicable plan, policy, program or arrangement relating to such amount absent
such prohibited acceleration.

    

    5.4.          Disability.  If
the Executive becomes physically or mentally disabled during the Term so that he
is unable to perform the services required of him pursuant to this Agreement for
a period of 90 days, the Company may terminate the Term and the Executive's
services hereunder effective the 91st day
after the date of such disability, at which time the Company shall promptly pay
to the Executive (1) any unpaid base salary and accrued vacation benefits and
the Annual Bonus earned for the calendar year immediately preceding the calendar
year of death to the extent not already paid in a lump sum as soon as
practicable after the effective date of termination of the Executive’s
employment on account of a disability in accordance with the Company’s usual
payroll practices (not less frequently than monthly) and (2) the pro-rata share
of the Target Award Opportunity for the calendar year of Executive’s disability
(calculated on the basis of the number of days elapsed in such year through the
date of disability) in a single lump sum on the 60th day
following termination of the Executive’s employment on account of disability;
provided, however, that if payment of any such amounts at such time would result
in a prohibited acceleration under Section 409A of the Code, then such amount
shall be paid at the time the amount would otherwise have been paid under the
applicable plan, policy, program or arrangement relating to such amount absent
such prohibited acceleration.

    

    5.5.          For
Cause.  The Company may terminate the Executive's employment
during the Term for Cause.  For purposes of this Agreement, "Cause"
shall mean that the Executive has (i) committed an act of personal dishonesty,
embezzlement or fraud; (ii) has misused alcohol or drugs; (iii) failed to pay
any obligation owed to the Company or any affiliate; (iv) breached a fiduciary
duty or deliberately disregarded any rule of the Company or any affiliate; (v)
has committed an act of willful misconduct, or the intentional failure to
perform stated duties; (vi) has willfully violated any law, rule or regulation
(other than misdemeanors, traffic violations or similar offenses) or any final
cease-and-desist order; (vii) has disclosed without authorization any
Confidential Information of the Company or any affiliate, or has engaged in any
conduct constituting unfair competition, or has induced any customer of the
Company or any Affiliate to breach a contract with the Company or any
affiliate.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    If at any
time during the Term the Company shall terminate the Executive for "Cause" the
Company shall pay the Executive (i) any unpaid Base Salary through the date of
termination, and (ii) the Annual Bonus earned for the year immediately preceding
the calendar year of termination to the extent not already paid, without any
further obligations to the Executive.  Such unpaid Base Salary and
Annual Bonus will be paid to the Executive in a lump sum as soon as practicable
after the effective date of termination in accordance with the Company’s usual
payroll practices (not less frequently than monthly); provided, however, that if
payment of any such amount at such time would result in a prohibited
acceleration under Section 409A of the Code, then such amount shall be paid at
the time the amount would otherwise have been paid under the applicable plan,
policy, program or arrangement relating to such amount absent such prohibited
acceleration.

    

    5.6          Good
Reason.  "Good Reason" shall mean (1) a demotion in the
Executive's status, title or position, or the assignment to the Executive of
duties or responsibilities which are materially inconsistent with such status,
title or position; (2) a material breach of this Agreement by the Company,
provided the Company has not remedied such breach within thirty (30) days of
receipt of written notice of such breach; (3) a relocation of the executive
offices of the Company to a location more than 50 miles outside of Jackson,
Mississippi without the Executive's written consent given to the Company within
thirty (30) days of the Executive's receipt of notification of such relocation
by the Company or (4) the failure of the Executive to be named as the Chief
Executive Officer of any successor by merger to the Company.  Any good
faith determination of "Good Reason" made by the Executive shall be
conclusive.

    

    5.7.          Change in
Control.  If at any time during the Term the Company
experiences a Change in Control and within three (3) years after the date the
Change in Control occurs (i) the Term and the Executive are terminated other
than for Cause, death, disability or Retirement or (ii) the Executive resigns
for Good Reason, the following provisions shall apply:

     

    (i)         "Change
in Control" shall mean any one of the following events: (1) the acquisition by
any person of ownership of, holding or power to vote more than 20% of the
Company's voting stock, (2) the acquisition by any person of the ability to
control the election of a majority of the Company's Board, (3) the acquisition
of a controlling influence over the management or policies of the Company by any
person or by persons acting as a "group" (within the meaning of Section 13(d) of
the Securities Exchange Act of 1934 (Exchange Act), or (4) during any period of
two consecutive years, individuals (the "Continuing Directors") who at the
beginning of such period constitute the Board (the "Existing Board") cease for
any reason to constitute at least two-thirds thereof, provided that any
individual whose election or nomination for election as a member of the Existing
Board was approved by a vote of at least two-thirds of the Continuing Directors
then in office shall be considered a Continuing
Director.  Notwithstanding the foregoing, in the case of (1), (2) and
(3) hereof, ownership or control of the Company's voting stock by the only
subsidiary of the Company or any employee benefit plan sponsored by the Company
or any subsidiary shall not constitute a Change in Control.  For
purposes of this subparagraph, the term "person" refers to an individual or a
corporation, partnership, trust, association, joint venture, pool, syndicate,
sole proprietorship, unincorporated organization of any other form of entity not
specifically listed herein;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (ii)        Subject
to Section 13 hereof, the Company shall pay to the Executive the following
amounts:

    

    A.           The
sum of (1) the Executive's Base Salary and accrued vacation benefits through the
date of termination to the extent not theretofore paid as soon as practicable
after the effective date of termination in accordance with the Company’s usual
payroll practices (not less frequently than monthly) and (2) the additional sum
of (i) the Executive's Base Salary immediately prior to the Change in Control
and (ii) the highest Annual Bonus amount earned in any one of the three (3)
years preceding the year of the Change in Control on the 60th day
after the effective date of termination.

    

    B.            The
Company shall continue to provide to the Executive the Employee Benefits for one
year following the effective date of termination, reduced by any employment
benefits received from later employment, as the same may be changed from time to
time for employees of the Company generally, as if the Executive had continued
employment during such period; or, as an alternative, the Company may elect to
pay Executive cash in lieu of such participation in an amount equal to the
Executive’s reasonable after-tax cost of obtaining comparable coverage or
benefits, where such participation may not be continued by the Company (or where
such participation would adversely affect the tax status of the applicable plan
pursuant to which the benefits are provided), with any such cash payments to be
made in accordance with the ordinary payroll practices of the Company (not less
frequently than monthly) for employees generally for the period during which
such cash payments are to be provided; and

    

    C.            Any
stock options granted Executive by the Company which have not vested shall vest
in the Executive in full as of the Change in Control.  Any such stock
options which were intended by the parties to be incentive stock options but
which exceed the "$100,000 first exercisable rule" shall be converted into
non-qualified stock options; and

    

    D.            If
the Executive is unable to sell his home in Jackson for at least the lesser of
$900,000 or the then current appraised value of the home within four (4) months
following the effective date of his termination, Company shall acquire such
property at that time for a purchase price equal to the lesser of $900,000 or
the then current appraised value of the Executive's home in Jackson in exchange
for an unencumbered deed to the property.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    E.            In
consideration of the covenants set forth in Section 4, the Executive shall be
paid the Covenant Payments in an undiscounted cash lump sum on the 60th day
after the effective date of termination provided the Term and the Executive are
terminated within two (2) years after the date a Change in Control occurs and
the Change in Control also satisfies the definition of a change in the ownership
or effective control of the Company, or in the ownership of a substantial
portion of its assets, within the meaning of Section 409A(a)(2)(A)(v) of the
Code.  Otherwise, the Executive shall be paid the Covenant Payments in
the manner provided in Section 4.4.

    

    F.            Notwithstanding
the foregoing, if payment of any of the foregoing amounts at the time designated
above would result in a prohibited acceleration under Section 409A of the Code,
then such amount shall be paid at the time the amount would otherwise have been
paid under the applicable plan, policy, program or arrangement relating to such
amount absent such prohibited acceleration.

    

    5.8.          No Change
in Control.  If there has not been a Change in Control prior to
the date of termination and (i) the Company terminates the Term and the
Executive's employment for a reason other than Cause, death, disability or
Retirement or (ii) if the Executive resigns for Good Reason, subject to Section
13 hereof, the Company shall pay to the Executive the following
amounts.

    

    A.           The
Executive's Base Salary and accrued vacation benefits through the date of
termination to the extent not theretofore paid in a lump sum as soon as
practicable following the effective date of the termination in accordance with
the Company’s usual payroll practices (not less frequently than
monthly);

    

    B.            The
Company shall continue to provide to the Executive the Employee Benefits for a
period of eighteen (18) months following the effective date of the termination,
reduced by any employee benefits received from later employment, as the same may
be changed from time to time for employees of the Company generally, as if the
Executive had continued employment during such period; or, as an alternative,
the Company may elect to pay Executive cash in lieu of such participation in an
amount equal to the Executive’s reasonable after-tax cost of obtaining
comparable coverage or benefits, where such participation may not be continued
by the Company (or where such participation would adversely affect the tax
status of the applicable plan pursuant to which the benefits are provided), with
any such cash payments to be made in accordance with the ordinary payroll
practices of the Company (not less frequently than monthly) for employees
generally for the period during which such cash payments are to be provided;
and

    

    C.            If
the Executive is unable to sell his home in Jackson for at least the lesser of
$900,000 or the then current appraised value of the home within four (4) months
following the effective date of his termination, Company shall acquire such
property at that time for a purchase price equal to the lesser of $900,000 or
the then current appraised value of the Executive's home in Jackson in exchange
for an unencumbered deed to the property;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    D.            In
consideration of the covenants set forth in Section 4, the Executive shall be
paid the Covenant Payments in the manner provided in Section 4.4.

    

    E.            Notwithstanding
the foregoing, if payment of any of the foregoing amounts at the time designated
above would result in a prohibited acceleration under Section 409A of the Code,
then such amount shall be paid at the time the amount would otherwise have been
paid under the applicable plan, policy, program or arrangement relating to such
amount absent such prohibited acceleration.

    

    5.9           Retirement.  Unless
terminated earlier pursuant to this Section 5, the Term and the Executive's
employment shall automatically terminate on the last business day of the
calendar year in which the Executive reaches age 65 ("Retirement"), in which
event, the Executive shall be entitled to receive such retirement benefits which
have accrued to the Executive by virtue of his employment hereunder, but not the
payments described in Sections 4.4, 5.7 and 5.8 hereof.

    

    5.10.        Return of
Documents on Termination.  On termination of employment, the
Executive shall promptly return to the Company all documents, materials, papers,
data, computer discs, statements and any other written material (including but
not limited to all copies thereof) and other property of the
Company.

    

    5.11         Release.  The
payments and benefits to which the Executive is entitled pursuant to Sections
4.4, 5.4(3), 5.7(ii)A.(2), B-E, 5.8B-D and 8 are contingent upon the Executive
executing a release agreement in a form reasonably acceptable to the Company,
and the applicable revocation period having expired, before the 60th day
following effective date of termination.

    

    6.             Expenses.  The
Company shall reimburse the Executive for his reasonable out-of-pocket expenses
incurred pursuant to this Agreement and in connection with the performance of
his duties under this Agreement, in accordance with the general policy of the
Company, upon submission of satisfactory documentation evidencing such
expenditures, no later than the last day of the year following the year in which
the Executive incurs the expense.

    

    7.             Non-Assignment.  This
Agreement and all of the Executive's rights and obligations hereunder are
personal to the Executive and shall not be assignable; provided, however, that
upon his death all of the Executive's rights to cash payments under this
Agreement shall inure to the benefit of his widow, personal
representative,  designees or other legal representatives, as the case
may be.  Any person, firm or corporation succeeding to the business of
the Company by merger, purchase, consolidation or otherwise shall assume by
contract or operation of law the obligations of the Company hereunder, provided,
however, that the Company shall, notwithstanding such assumption, remain liable
and responsible for the fulfillment of its obligations under this
Agreement.

    

    8.             Arbitration.  In
the event of a dispute between the Company and the Executive over the terms of
this Agreement which is not settled by the parties, the company and the
Executive agree to settle any and all such disputed issues by arbitration in
accordance with the then-existing rules of the American Arbitration
Association.  The Company and the Executive shall jointly appoint one
person to act as the arbitrator.  In the event the Company and the
Executive cannot agree to an arbitrator within 30 days, the arbitrator shall be
chosen by the American Arbitration Association.  The decision of the
arbitrator shall be binding upon the parties and there shall be no appeal
therefrom other than for bias, fraud or misconduct.  The costs of the
arbitration, including the fees and expenses of the arbitrator, shall be borne
fifty percent by the Company, on the one hand, and fifty percent by the
Executive, on the other, but each party shall pay its own attorneys' fees and
other professional costs and expenses; provided, however, that if the arbitrator
shall rule for the Executive, the Company shall pay or reimburse the Executive's
reasonable attorneys' fees and other professional costs and expenses and the
Executive's share of the arbitration costs incurred in connection with such
arbitration as soon as administratively practicable after the final decision on
arbitration in accordance with the Company’s usual payroll practices (not less
frequently than monthly).  Notwithstanding the foregoing, it is
specifically understood that the Executive shall remain free to assert and
enforce in any court of competent jurisdiction such rights, if any, as the
Executive may have under federal law, including without limitation, rights
arising under Title VII of the Civil Rights Act of 1964, as amended, the Age
Discrimination and Employment Act of 1967, as amended, and/or the Americans With
Disabilities Act of 1990.  Any decision rendered by the arbitrator,
except as provided above, shall be final and binding.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
            	
              9. 

            	
              Excise
      Tax Limitation.

            

    

    

    9.1.          Notwithstanding
anything contained in this Agreement (or in any other agreement between the
Executive and the Company) to the contrary, to the extent that any payments and
benefits provided under this Agreement or payments or benefits provided to, or
for the benefit of, the Executive under the Trustmark Corporation 1997 Long Term
Incentive Plan or any other plan or agreement of the Company (such payments or
benefits are collectively referred to as the "Payments") would be subject to the
excise tax (the "Excise Tax") imposed under Section 4999 of the Internal Revenue
Code of 1986, as amended (the "Code"), the Payments shall be reduced if and to
the extent that a reduction in the Payments would result in the Executive
retaining a larger amount, on an after-tax basis (taking into account federal,
state and local income taxes and the Excise Tax), than he would have retained
had he been entitled to receive all of the Payments (such reduced amount is
hereinafter referred to as the "Limited Payment Amount").  The Company
shall reduce the Payments by first reducing or eliminating those payments or
benefits 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 from the date the "Determination" (as
hereinafter defined) is delivered to the Company and the Executive.

    

    9.2.         
The determination as to whether the Payments shall be reduced to the Limited
Payment Amount and the amount of such Limited Payment Amount (the
"Determination") shall be made at the Company's expense by an accounting firm
selected by the Company and reasonably acceptable to the Executive which is
designated as one of the five (5) largest accounting firms in the United States
(the "Accounting Firm").  The Accounting Firm shall provide the
Determination in writing, together with detailed supporting calculations and
documentation, to the Company and the Executive on or prior to the date of
termination of the Executive's employment if applicable, or at such other time
as requested by the Company or by the Executive.  Within ten (10) days
of the delivery of the Determination to the Executive, the Executive shall have
the right to dispute the Determination (the "Dispute") in writing setting forth
the precise basis of the dispute.  If there is no Dispute, the
Determination shall be binding, final and conclusive upon the Company and the
Executive.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
            	
              9.3 

            	
              Any
      Excise Tax payable hereunder shall be paid by the
    Executive.

            

    

    

    10.          
Severability.  Whenever
possible, each provision of this Agreement will be interpreted in such manner as
to be effective and valid under applicable law, but if any provision of this
Agreement is held to be invalid, illegal or unenforceable in any respect under
any applicable law or rule in any jurisdiction such invalidity, legality or
unenforceability will not affect any other provision or any other jurisdiction,
but this Agreement will be reformed, construed and enforced in such jurisdiction
as if such invalid, illegal or unenforceable provision had never been contained
herein.

    

    11.           Other
Provisions.

    

    11.1.        Notices.  Any
notice or other communication required or permitted hereunder shall be in
writing and shall be delivered personally, telegraphed, telexed, sent by
facsimile transmission or sent by certified, registered or express mail, postage
prepaid.  Any such notice shall be deemed given when so delivered
personally, telegraphed, telexed or sent by facsimile transmission, or if
mailed, five days after the date of deposit in the United States mail, as
follows:

    

    
      	
               
      

            	
              (i)

            	
              if
      to the Company, to:

            

    

    

    Trustmark
Corporation

    248 East
Capitol Street

    Post
Office Box 291

    Jackson,
MS 39205

    Attention:
Chairman of Executive Committee

    

    
      	
               
      

            	
              (ii)

            	
              if
      to the Executive, to:

            

    

    

    Richard
G. Hickson

    3973
Dogwood Drive

    Jackson,
MS 39211

    

    Any party
may change its address for notice hereunder by notice to the other parties
hereto.

    

    11.2.        Entire
Agreement.  This Agreement amends and restates the Original
Agreement.  This Agreement contains the entire agreement between the
parties with respect to the subject matter hereof and supersede all prior
representations, warranties and agreements, written or oral with respect thereto
between the Company and the Executive.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    11.3.        Waivers
and Agreements.  This Agreement may be amended, modified,
superseded, canceled, renewed or extended, and the terms and conditions hereof
may be waived, only by written instrument signed by the parties or, in the case
of a waiver, by the party waiving compliance.  No delay on the part of
any party in exercising any right, power or privilege hereunder shall operate as
a waiver thereof, nor shall any waiver on the part of any party of any right,
power or privilege hereunder, nor any single or partial exercise of any right,
power or privilege hereunder preclude any other or further exercise thereof or
the exercise of any other right, power or privilege hereunder.

    

    11.4.        Governing
Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of Mississippi, without regard to its
principle of conflicts of law.

    

    11.5.        Counterparts.  This
Agreement may be executed in two counterparts, each of which shall be deemed an
original but both of which together shall constitute one and the same
instrument.

    

    11.6.        Headings.  The
headings in this Agreement are for reference purposes only and shall not in any
way affect the meaning or interpretation of this Agreement.

    

    12.           Board
Approval.  The effectiveness of this Agreement shall be subject
to approval by a majority of the Board of the Company entitled to vote on the
date hereof.

    

    13.           Omnibus
409A Provision.  Notwithstanding any other provision of this
Agreement, it is intended that any payment or benefit which is provided pursuant
to or in connection with this Agreement which is considered to be deferred
compensation subject to Section 409A of the Code shall be provided and paid in a
manner, and at such time and in such form, as complies with the requirements of
Section 409A of the Code to avoid any unfavorable tax
consequences.  For purposes of this Agreement, all rights to payments
and benefits hereunder shall be treated as rights to receive a series of
separate payments and benefits to the fullest extent allowed by Section 409A of
the Code.  Notwithstanding any other provision of this Agreement,
payments or provision of benefits in connection with the separation from service
will be delayed, to the extent applicable, until six months after the separation
from service or, if earlier, Executive’s death, if Executive is a “specified
employee” under Section 409A of the Code (the “409A Deferral
Period”).  In the event such payments are otherwise due to be made in
installments or periodically during the 409A Deferral Period, the payments which
would otherwise have been made in the 409A Deferral Period shall be accumulated
and paid in a lump sum as soon as the 409A Deferral Period ends, and the balance
of the payments shall be made as otherwise scheduled.  In the event
benefits are required to be deferred, any such benefit may be provided during
the 409A Deferral Period at Executive’s expense, with Executive having a right
to reimbursement from the Company once the 409A Deferral Period ends, and the
balance of the benefits shall be provided as otherwise scheduled.  For
purposes of this Agreement, termination of employment will be read to mean a
“separation from service” within the meaning of Section 409A of the Code where
it is reasonably anticipated that no further services would be performed after
that date or that the level of services Executive would perform after that date
(whether as an employee or independent contractor) would permanently decrease to
less than 50% of the average level of bona fide services performed over the
immediately preceding thirty-six (36)- month period.

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    IN
WITNESS WHEREOF, the parties have executed this agreement as of the date above
written.

    

    
      	 
      	
              TRUSTMARK
      CORPORATION

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/
      Daniel
      A. Grafton	 
      
	 
      	 
      	
                   
      Daniel A. Grafton

            
	 
      	 
      	
                   
      Chairman of the Human Resources
Committee

            

    

     

    
      	 
      	EXECUTIVE
	 
      	 	 
      
	 
      	 	/s/
      Richard
      G. Hickson	 
	 
      	 	
                   
      Richard G. Hicksonex10_i.htm

    
      

    

    
      Exhibit
10-i

      AMENDED
AND RESTATED AGREEMENT

      

      This
Amended and Restated Agreement ("Agreement") is entered into as
of October 23, 2007, by Trustmark Corporation, a Mississippi corporation
(the "Company"), and
Gerard R. Host (the "Executive").  The
Company and Executive have entered into this Agreement with reference to the
following facts:

      

      A.          The
Company and Executive entered into that certain Agreement dated as of December
22, 1997, which the Company and the Executive amended and restated in its
entirety as of March 12, 2002 ("Original Agreement");
and

      

      B.           The
Company and Executive now desire to amend and restate in its entirety the
Original Agreement as set forth in this Agreement to reflect the provisions of
Section 409A of the Internal Revenue Code of 1986, as amended (“Code”), and the final
regulations issued thereunder.

      

      NOW,
THEREFORE, in consideration of the mutual premises and agreements herein
contained, and other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, the parties, intending to be legally
bound,
hereby agree as follows:

      

      1.           Definition
of Terms.  As used in this Agreement, the following terms shall
have the respective meanings indicated below:

      

      A.         "Base
Salary" means the Executive's annual base salary as in effect at any particular
time.

      

      B.          "Cause"
means that the Executive has (i) committed an act of personal dishonesty,
embezzlement or fraud; (ii) has misused alcohol or drugs; (iii) failed to pay
any obligation owed to the Company or any affiliate; (iv) breached a fiduciary
duty or deliberately disregarded any rule of the Company or any affiliate; (v)
has committed an act of willful misconduct, or the intentional failure to
perform stated duties; (vi) has willfully violated any law, rule or regulation
(other than misdemeanors, traffic violations or similar offenses) or any final
cease-and-desist order; (vii) has disclosed without authorization any
Confidential Information of the Company or any affiliate, or has engaged in any
conduct constituting unfair competition, or has induced any customer of the
Company or any affiliate to breach a contract with the Company or any
affiliate.

      

      C.          "Change
in Control" means any one of the following events: (1) the acquisition by any
person of ownership of, holding or power to vote more than 20% of the Company's
voting stock, (2) the acquisition by any person of the ability to control the
election of a majority of the Company's board of directors, (3) the acquisition
of a controlling influence over the management or policies of the Company by any
person or by persons acting as a "group" (within the meaning of Section 13(d) of
the Securities Exchange Act of 1934 (Exchange Act), or (4) during any period of
two consecutive years, individuals (the "Continuing Directors") who at the
beginning of such period constitute the board of directors (the "Existing
Board") cease for any reason to constitute at least two-thirds thereof, provided
that any individual whose election or nomination for election as a member of the
Existing Board was approved by a vote of at least two-thirds of the Continuing
Directors then in office shall be considered a Continuing
Director.  Notwithstanding the foregoing, in the case of (1), (2) and
(3) hereof, ownership or control of the Company's voting stock by the only
subsidiary of the Company or any employee benefit plan sponsored by the Company
or any subsidiary shall not constitute a Change in Control.  For
purposes of this subparagraph, the term "person" refers to an individual or a
corporation, partnership, trust, association, joint venture, pool, syndicate,
sole proprietorship, unincorporated organization of any other form of entity not
specifically listed herein;

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      D.         
"Confidential Information" means all trade secrets, confidential information
(including but not limited to confidential information with respect to
marketing, product offerings or expansion plans) and financial matters of the
Company and its subsidiaries.

      

      E.          "Disability"
means that the Executive becomes physically or mentally disabled during the
Executive's employment with the Company so that he is unable to perform the
services required of him for a period of 90 days.

      

      F.         
"Employee Benefits" means all group life, hospitalization and disability
insurance plans, health programs, pension plans, similar benefit plans or other
so called "fringe benefit programs" of the Company as are now existing or as may
hereafter be revised or adopted and offered to senior executives of the Company
or its affiliates generally.

      

      G.        
 "Good Reason" means (1) a demotion in the Executive's status, title or
position, or the assignment to the Executive of duties or responsibilities which
are materially inconsistent with such status, title or position; (2) a material
breach of this Agreement by the Company, provided the Company has not remedied
such breach within thirty (30) days of receipt of written notice of such breach;
or (3) a relocation of the executive offices of the Company to a location more
than 50 miles outside of Jackson, Mississippi without the Executive's written
consent given to the Company within thirty (30) days of the Executive's receipt
of notification of such relocation by the Company.

      

      H.          "Retirement"
means the last business day of the calendar year in which the Executive reaches
age 65.

      

      2.           Change in
Control.  If at any time during the Executive's employment the
Company experiences a Change in Control and within two (2) years after the date
the Change in Control occurs (i) the Executive's employment is terminated other
than for Cause, death, Disability or Retirement or (ii) the Executive resigns
for Good Reason, subject to Section 14 hereof, the Company shall pay to the
Executive the following amounts:

      

      A.          The
sum of (1) the Executive's Base Salary and accrued vacation benefits through the
date of termination to the extent not theretofore paid in a lump sum as soon as
administratively practicable after the effective date of termination in
accordance with the Company’s usual payroll practices (not less frequently than
monthly) and (2) the additional sum of (i) Executive's Base Salary immediately
prior to the Change in Control and (ii) the highest annual bonus amount earned
in either of the two (2) years preceding the year of the Change in Control in a
lump sum on the 60th day
after the effective date of termination.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      B.           The
Company shall continue to provide to the Executive the Employee Benefits for one
year following the effective date of termination, reduced by any employment
benefits received from later employment, as the same may be changed from time to
time for employees of the Company generally, as if the Executive had continued
employment during such period; or, as an alternative, the Company may elect to
pay Executive cash in lieu of such participation in an amount equal to the
Executive’s reasonable after-tax cost of obtaining
comparable coverage or benefits, where such participation may not be continued
by the Company (or where such participation would adversely affect the tax
status of the applicable plan pursuant to which the benefits are provided), with
any such cash payments to be made in accordance with the ordinary payroll
practices of the Company (not less frequently than monthly) for employees
generally for the period during which such cash payments are to be provided;
and

      

      C.           Any
stock options granted Executive by the Company which have not vested shall vest
in the Executive in full as of the Change in Control.  Any such stock
options which were intended by the parties to be incentive stock options but
which exceed the "$100,000 first exercisable rule" shall be converted into
non-qualified stock options.

      

      3.           Confidentiality,
Nonsolicitation and Noncompete.

      

      3.1         Confidentiality.  The
Executive covenants and agrees that all trade secrets, confidential information
(including but not limited to confidential information with respect to
marketing, product offerings or expansion plans), and financial matters of the
Company and its subsidiaries (collectively "Confidential Information") which are
learned by him in the course of his employment by the Company shall be held in a
fiduciary capacity and treated as confidential by him and shall not be
disclosed, communicated or divulged by him or used by him for the benefit of any
person or entity (other than the Company, its subsidiaries or affiliates) unless
expressly authorized in writing by the Board, or unless the Confidential
Information becomes generally available to the public otherwise than through
disclosure by the Executive.

      

      3.2         Nonsolicitation.  The
Executive agrees that (1) during the period he is employed with the Company and
for a period of twelve (12) months after termination of employment, he will not,
without the prior written consent of the Board, directly or indirectly solicit,
entice, persuade, or induce any employee, director, officer, associate,
consultant, agent or independent contractor of the Company or its subsidiaries
(i) to terminate such person's employment or engagement by the Company or its
subsidiaries or (ii) to become employed by any person, firm, partnership,
corporation, or other such enterprise other than the Company, its subsidiaries
or affiliates, and (2) he shall not following the termination of his employment
hereunder represent that he is any way connected with the business of the
Company or its subsidiaries (except to the extent agreed to in writing by the
Company).

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      3.3         Noncompete.  The
Executive agrees that during the period he is employed with the Company and, for
a period of twelve (12) months following the date of termination of his
employment for any reason except Retirement, he will not (except as a
representative of the Company or with the prior written consent of the Board),
directly or indirectly, engage, participate or make any financial investment, as
an employee, director, officer, associate, consultant, agent, independent
contractor, lender or investor, in the business of any person, firm,
partnership, corporation or other enterprise that is engaged in direct
competition with the business of the Company in any geographic area in which the
Company is then conducting such business.  Nothing in this Section 3.3
shall be construed to preclude the Executive from making any investments in the
securities of any business enterprise whether or not engaged in competition with
the Company, to the extent that such securities are actively traded on a
national securities exchange or in the over-the-counter market in the United
States or on any foreign securities exchange and represent less than one-percent
(1%) of any class of securities of such business
enterprise.  Executive acknowledges that if his employment with the
Company terminates for any reason, he can earn a livelihood without violating
the foregoing restrictions and that the time period and scope of the foregoing
restrictions are reasonably required for the protection of the Company's valid
business interests.

      

      3.4.        Covenant
Payments.  In consideration for the covenants contained in
Section 3, which are considered material to the Company, the Company agrees to
pay Executive all amounts owed pursuant to this Agreement, and upon Executive's
termination without Cause or Executive’s resignation for Good Reason, to pay
Executive an amount (the "Covenant Payments") equal to
the sum of (i) the Executive's Base Salary and (ii) the highest annual bonus
earned in any one of the three years preceding the termination.  The
Covenant Payments shall be paid in twelve (12) equal monthly installments with
the first installment commencing on the 60th day
after the effective date of termination and continuing thereafter on the same
day of each following month until all twelve (12) monthly installments are
paid.  In the event of the Executive's death following such date of
termination, any unpaid installments shall be paid to the Executive's estate in
a single undiscounted cash lump sum.  Such lump sum shall be paid on
the 60th day
after the Executive's death.  Notwithstanding anything herein to the
contrary, if the Executive is terminated for Cause or the Executive voluntarily
resigns other than for Good Reason or has a Disability, the Executive will
remain subject to the covenants contained in Section 3 but will not be entitled
to the Covenant Payments.

      

      3.5         Remedies.  The
Company would be damaged irreparably if any provision of Section 3 was not
performed by the Executive in accordance with its terms or was otherwise
breached and that money damages would be an inadequate remedy for any such
nonperformance or breach.  Therefore, the Company or its successors or
assigns shall be entitled, in addition to any other rights and remedies existing
in their favor, including the right to retain the Covenant Payments, to an
injunction or injunctions to prevent any breach or threatened breach of any such
provisions and to enforce such provisions specifically (without posting a bond
or other security).  Executive agrees that Company or its successors
or assigns may retain the Covenant Payments as partially liquidated damages for
such breach and not as a penalty.  The Executive would be damaged
irreparably if any provision of Section 3 was not performed by the Company in
accordance with its terms or was otherwise breached and that money damages would
be an inadequate remedy for any such nonperformance or
breach.  Therefore, the Executive shall be entitled, in addition to
any other rights and remedies existing in his favor, to an injunction or
injunctions to prevent any breach or threatened breach of any such provisions
and to enforce such provisions specifically (without posting a bond or other
security).

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      4.           Release.  The
payments and benefits to which the Executive is entitled pursuant to Sections
2A.(2), B. and C. and 3.4 are contingent upon the Executive executing a release
agreement in a form reasonably acceptable to the Company, and the applicable
revocation period having expired, before the 60th day
after the effective date of termination.

      

      5.           Excise
Tax Limitation.

      

      A.          Notwithstanding
anything contained in this Agreement (or in any other agreement between the
Executive and the Company) to the contrary, to the extent that any payments and
benefits provided under this Agreement or payments or benefits provided to, or
for the benefit of, the Executive under any plan or agreement of the Company
(such payments or benefits are collectively referred to as the "Payments") would
be subject to the excise tax (the "Excise Tax") imposed under Section 4999 of
the Internal Revenue Code of 1986, as amended (the "Code"), the Payments shall
be reduced if and to the extent that a reduction in the Payments would result in
the Executive retaining a larger amount, on an after-tax basis (taking into
account federal, state and local income taxes and the Excise Tax), than he would
have retained had he been entitled to receive all of the Payments (such reduced
amount is hereinafter referred to as the "Limited Payment
Amount").  The Company shall reduce the Payments by first reducing or
eliminating those payments or benefits 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 from the
date the "Determination" (as hereinafter defined) is delivered to the Company
and the Executive.

      

      B.           The
determination as to whether the Payments shall be reduced to the Limited Payment
Amount and the amount of such Limited Payment Amount (the "Determination") shall
be made at the Company's expense by an accounting firm selected by the Company
and reasonably acceptable to the Executive which is designated as one of the
five (5) largest accounting firms in the United States (the "Accounting
Firm").  The Accounting Firm shall provide the Determination in
writing, together with detailed supporting calculations and documentation, to
the Company and the Executive on or prior to the date of termination of the
Executive's employment if applicable, or at such other time as requested by the
Company or by the Executive.  Within ten (10) days of the delivery of
the Determination to the Executive, the Executive shall have the right to
dispute the Determination (the "Dispute") in writing setting forth the precise
basis of the dispute.  If there is no Dispute, the Determination shall
be binding, final and conclusive upon the Company and the
Executive.

      

      C.           Any
Excise Tax payable hereunder shall be paid by the Executive.

      

      6.           Non-Assignment.  This
Agreement and all of the Executive's rights and obligations hereunder are
personal to the Executive and shall not be assignable; provided, however, that
upon his death all of the Executive's rights to cash payments under this
Agreement shall inure to the benefit of his widow, personal representative,
designees or other legal representatives, as the case may be.  Any
person, firm or corporation succeeding to the business of the Company by merger,
purchase, consolidation or otherwise shall assume by contract or operation of
law the obligations of the Company hereunder, provided, however, that the
Company shall, notwithstanding such assumption, remain liable and responsible
for the fulfillment of its obligations under this Agreement.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      7.           Severability.  Whenever
possible, each provision of this Agreement will be interpreted in such manner as
to be effective and valid under applicable law, but if any provision of this
Agreement is held to be invalid, illegal or unenforceable in any respect under
any applicable law or rule in any jurisdiction such invalidity, legality or
unenforceability will not affect any other provision or any other jurisdiction,
but this Agreement will be reformed, construed and enforced in such jurisdiction
as if such invalid, illegal or unenforceable provision had never been contained
herein.

      

      8.           Notices.  Any
notice or other communication required or permitted hereunder shall be in
writing and shall be delivered personally, telegraphed, telexed, sent by
facsimile transmission or sent by certified, registered or express mail, postage
prepaid.  Any such notice shall be deemed given when so delivered
personally, telegraphed, telexed or sent by facsimile transmission, or if
mailed, five days after the date of deposit in the United States mail, as
follows:

       

       

      
        
          	
                   
      

                	
                  (i)

                	
                  if
      to the Company, to:

                

        

        

        Trustmark
Corporation

        248 East
Capitol Street

        Post
Office Box 291

        Jackson,
MS 39205

        Attention:
Chief Executive Officer

        

        
          	
                   
      

                	
                  (ii)

                	
                  if
      to the Executive, to:

                

        

        

        Gerard R.
Host

        509
Winter Oak

        Madison,
MS 39110

         

      

      Any party
may change its address for notice hereunder by notice to the parties
hereto.

      

      9.           Entire
Agreement.  This Agreement amends and restates the Original
Agreement.  This Agreement contains the entire agreement between the
parties with respect to the subject matter hereof and supersedes all prior
representations, warranties and agreements, written or oral with respect thereto
between the Company and the Executive.

      

      10.         Waivers
and Agreements.  This Agreement may be amended, modified,
superseded, canceled, renewed or extended, and the terms and conditions hereof
may be waived, only by written instrument signed by the parties or, in the case
of a waiver, by the party waiving compliance.  No delay on the part of
any party in exercising any right, power or privilege hereunder shall operate as
a waiver thereof, nor shall any waiver on the part of any party of any right,
power or privilege hereunder, nor any single or partial exercise of any right,
power or privilege hereunder preclude any other or further exercise thereof or
the exercise of any other right, power or privilege hereunder.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      11.         Governing
Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of Mississippi, without regard to its
principle of conflicts of law.

      

      12.         Headings.  The
headings in this Agreement are for reference purposes only and shall not in any
way affect the meaning or interpretation of this Agreement.

      

      13.         Board
Approval.  This Agreement has been authorized by action of the
Board of Directors of the Company on October 23, 2007, as is referenced in the
minutes of their meeting on that day.

      

      14.         Omnibus
409A Provision.  Notwithstanding any other provision of this
Agreement, it is intended that any payment or benefit which is provided pursuant
to or in connection with this Agreement which is considered to be deferred
compensation subject to Section 409A of the Code shall be provided and paid in a
manner, and at such time and in such form, as complies with the requirements of
Section 409A of the Code to avoid any unfavorable tax
consequences.  For purposes of this Agreement, all rights to payments
and benefits hereunder shall be treated as rights to receive a series of
separate payments and benefits to the fullest extent allowed by Section 409A of
the Code.  Notwithstanding any other provision of this Agreement,
payments or provision of benefits in connection with a separation from service
will be delayed, to the extent applicable, until six months after the separation
from service or, if earlier, Executive’s death, if Executive is a “specified
employee” under Section 409A of the Code (the “409A Deferral
Period”).  In the event such payments are otherwise due to be made in
installments or periodically during the 409A Deferral Period, the payments which
would otherwise have been made in the 409A Deferral Period shall be accumulated
and paid in a lump sum as soon as the 409A Deferral Period ends, and the balance
of the benefits shall be made as otherwise scheduled.  In the event
benefits are required to be deferred, any such benefit may be provided during
the 409A Deferral Period at Executive’s expense, with Executive having a right
to reimbursement from the Company once the 409A Deferral Period ends, and the
balance of the benefits shall be provided as otherwise scheduled.  For
purposes of this Agreement, termination of employment will be read to mean a
“separation from service” within the meaning of Section 409A of the Code where
it is reasonably anticipated that no further services would be performed after
that date or that the level of services Executive would perform after that date
(whether as an employee or independent contractor) would permanently decrease to
less than 50% of the average level of bona fide services performed over the
immediately preceding thirty-six (36)- month period.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      IN
WITNESS WHEREOF, the parties have executed this agreement as of the date above
written.

      

      
        	
                TRUSTMARK
      CORPORATION

              	 
      	
                EXECUTIVE

              	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	
                By:

              	 
      /s/ Richard G. Hickson	 
      	/s/ Gerard R.
      Host 	 
      
	 
      	
                Richard
      G. Hickson

              	 
      	
                 
      Gerard R. Host

              	 
      
	 
      	
                Chairman
      and Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]