Document:

exv10w3

Exhibit 10.3

PINNACLE FINANCIAL PARTNERS, INC.

EXECUTIVE OFFICER 2010 TIME VESTED

RESTRICTED STOCK AGREEMENT

     THIS RESTRICTED STOCK AGREEMENT (the “Agreement”) is by and between Pinnacle Financial
Partners, Inc., a Tennessee corporation (the “Company”), and                                          (the “Grantee”).
Capitalized terms used but not defined in this Agreement shall have the meaning ascribed to such
terms in the Pinnacle Financial Partners, Inc. 2004 Equity Incentive Plan (the “Plan”).

     Section 1. Restricted Stock Award. The Grantee is hereby granted the right to
receive                                          shares (the “Restricted Stock”) of the Company’s common stock, $1.00 par value
per share (the “Common Stock”), subject to the terms and conditions of this Agreement and the Plan.

     Section 2. Lapse of Restrictions. Subject to Sections 5 and 8
hereof, the restrictions associated with the shares of Restricted Stock granted pursuant to
Section 1 hereof shall lapse on the second anniversary of the date hereof (the “Vesting
Date”) so long as the Company reports net income greater than $0 in the fiscal year preceding the
Vesting Date.

     Section 3. Distribution of Restricted Stock. Certificates representing the shares of
Restricted Stock that have vested under Section 2 will be distributed to the Grantee as
soon as practicable after the Vesting Date; provided, however, that no certificates shall be
distributed to the Grantee prior to the lapsing of any restrictions on the transferability of any
shares represented by such certificates, including those restrictions on transferability set forth
in Section 6 hereof resulting from the Company’s participation in the Capital Purchase
Program (the “CPP”) under the United States Treasury Department’s (the “Treasury”) Troubled Assets
Relief Program (the “TARP”) .

     Section 4. Voting Rights and Dividends. Prior to the distribution of the Restricted
Stock, certificates representing shares of Restricted Stock will be held by the Company (the
“Custodian”) in the name of the Grantee. The Custodian will take such action as is necessary and
appropriate to enable the Grantee to vote the Restricted Stock. All cash dividends received by the
Custodian, if any, with respect to the Restricted Stock will be remitted to the Grantee. Stock
dividends issued with respect to the Restricted Stock shall be treated as additional shares of
Restricted Stock that are subject to the same restrictions and other terms and conditions that
apply to the shares of Restricted Stock. Notwithstanding the foregoing, no voting rights or
dividend rights shall inure to the Grantee following the forfeiture of the Restricted Stock
pursuant to Section 5.

     Section 5. Termination/Change of Status. In the event that the Grantee’s employment
by the Company (or any Subsidiary or Affiliate of the Company) terminates for any reason, other
than death or Disability, all shares of Restricted Stock for which the forfeiture restrictions have
not lapsed prior to the date of termination shall be immediately forfeited and Grantee shall have
no further rights with respect to such shares of Restricted Stock. In the event that the Grantee’s

 

 

employment terminates by reason of death or Disability all Restricted Stock shall be deemed vested
and the restrictions under the Plan and this Agreement with respect to the Restricted Stock shall
automatically expire and shall be of no further force or effect, except that the restrictions on
transferability set forth in Section 6 hereof resulting from the Company’s participation in
the CPP shall continue until such time as such restrictions lapse in accordance with the Treasury’s
Interim Final Rule on TARP Standards for Compensation and Corporate Governance, dated June 15,
2009, as amended from time to time (the “Treasury Regulations”).

     Section 6. No Transfer or Pledge of Restricted Stock. No shares of Restricted Stock
may be sold, assigned, transferred, pledged, hypothecated or otherwise encumbered or disposed of
prior to the later of (i) the date the forfeiture restrictions with respect to such shares have
lapsed, if at all, on the Vesting Date; and (ii) the date that the transfer restrictions set forth
in the Treasury Regulations shall lapse with respect to such shares of Restricted Stock.

     Section 7. Withholding of Taxes. If the Grantee makes an election under section
83(b) of the Code with respect to the Award, the Award made pursuant to this Agreement shall be
conditioned upon the Grantee making prompt payment to the Company of any applicable withholding
obligations or withholding taxes by the Grantee (“Withholding Taxes”). Failure by the Grantee to
pay such Withholding Taxes will render this Agreement and the Award granted hereunder null and void
ab initio and the Restricted Shares granted hereunder will be immediately cancelled. If the
Grantee does not make an election under section 83(b) of the Code with respect to the Award, upon
the Vesting Date with respect to any portion of the Restricted Shares (or property distributed with
respect thereto), the Company shall cancel such Restricted Shares (or withhold property) having an
aggregate Fair Value, on the date next preceding the Vesting Date, in an amount required to satisfy
the required Withholding Taxes as set forth by Internal Revenue Service guidelines for the
employer’s minimum statutory withholding with respect to Grantee. The Company shall deduct from
any distribution of cash (whether or not related to the Award including, without limitation, salary
payments) to the Grantee an amount as shall be reasonably required to satisfy the required
Withholding Taxes as set forth by Internal Revenue Service guidelines for the employer’s minimum
statutory withholding with respect to Grantee pertaining to cash payments under the Award
(including any cash dividends made in respect of the Shares subject to the Award). For purposes of
this Agreement, “Fair Value” means the closing sales price of the Shares on the Nasdaq Global
Select Market on such date, or in the absence of reported sales on such date, the closing sales
price of the Shares on the immediately preceding date for which sales were reported.

     Section 8.
Change of Control. Subject to the provisions of Section 10
hereof, upon the occurrence of a Change in Control as defined in the Plan, all Restricted Stock
shall be deemed vested and the restrictions under the Plan and the Agreement with respect to the
Restricted Stock, including the restriction on transfer set forth in Section 6 hereof,
shall automatically expire and shall be of no further force or effect.

     Section 9. Stock Subject to Award. In the event that the shares of Common Stock of
the Company should, as a result of a stock split or stock dividend or combination of shares or any
other change, redesignation, merger, consolidation, recapitalization or otherwise, be increased or
decreased or changed into or exchanged for a different number or kind of shares of stock or other

 

 

securities of the Company or of another corporation, the number of shares of Restricted Stock that
have been awarded to Grantee shall be adjusted in an equitable and proportionate manner to reflect
such action. If any such adjustment shall result in a fractional share, such fraction shall be
disregarded.

     Section 10. Limitations Required by Treasury Regulations. The Company is subject to
federal banking regulations and, for so long as the Company has an obligation outstanding under the
CPP, to the Treasury Regulations. Notwithstanding any other provisions hereof, by the acceptance
of the benefits of this Agreement, Grantee and the Company agree that any provision of this
Agreement (including, but not limited to, Section 8 hereof), and any other restricted stock
award agreement or stock option award agreement which is prohibited, or the performance of which by
the Company is prohibited, by federal banking regulations or the Treasury Regulations, shall have
no force and effect during the period of such prohibition. At such time as such provision shall no
longer be prohibited by such regulations, it shall again be effective.

     Section 11. Stock Power. Concurrently with the execution of this Agreement, the
Grantee shall deliver to the Company a stock power, endorsed in blank, relating to the shares of
Restricted Stock. Such stock power shall be in the form attached hereto as Exhibit A.

     Section 12. Legend. Each certificate representing Restricted Stock shall bear a
legend in substantially the following form:

THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS
AND CONDITIONS (INCLUDING FORFEITURE AND RESTRICTIONS AGAINST TRANSFER) CONTAINED IN
THE PINNACLE FINANCIAL PARTNERS, INC. 2004 EQUITY INCENTIVE PLAN (THE “PLAN”) AND
THE RESTRICTED STOCK AGREEMENT (THE “AGREEMENT”) BETWEEN THE OWNER OF THE RESTRICTED
STOCK REPRESENTED HEREBY AND PINNACLE FINANCIAL PARTNERS, INC. (THE “COMPANY”). THE
RELEASE OF SUCH STOCK FROM SUCH TERMS AND CONDITIONS SHALL BE MADE ONLY IN
ACCORDANCE WITH THE PROVISIONS OF THE PLAN AND THE AGREEMENT, COPIES OF WHICH ARE ON
FILE AT THE COMPANY.

     Section 13. No Right to Continued Employment. This Agreement shall not be construed
as giving the Grantee the right to be retained in the employ of the Company (or any Subsidiary or
Affiliate of the Company), and the Company (or any Subsidiary or Affiliate of the Company) may at
any time dismiss the Grantee from employment, free from any liability or any claim under the Plan.

     Section 14. Governing Provisions. This Agreement is made under and subject to the
provisions of the Plan, and all of the provisions of the Plan are also provisions of this
Agreement. If there is a difference or conflict between the provisions of this Agreement and the
provisions of the Plan, the provisions of the Plan will govern. By signing this Agreement, the
Grantee confirms that he or she has received a copy of the Plan.

 

 

     Section 15. Miscellaneous.

          15.1 Entire Agreement. This Agreement and the Plan contain the entire understanding
and agreement between the Company and the Grantee concerning the Restricted Stock granted hereby,
and supersede any prior or contemporaneous negotiations and understandings. The Company and the
Grantee have made no promises, agreements, conditions or understandings relating to the Restricted
Stock, either orally or in writing, that are not included in this Agreement or the Plan.

          15.2 Captions. The captions and section numbers appearing in this Agreement are
inserted only as a matter of convenience. They do not define, limit, construe or describe the
scope or intent of the provisions of this Agreement.

          15.3 Counterparts. This Agreement may be executed in counterparts, each of which
when signed by the Company and the Grantee will be deemed an original and all of which together
will be deemed the same Agreement.

          15.4 Notice. Any notice or communication having to do with this Agreement must be
given by personal delivery or by certified mail, return receipt requested, addressed, if to the
Company, to the principal office of the Company, and, if to the Grantee, to the Grantee’s last
known address provided by the Grantee to the Company.

          15.5 Amendment. This Agreement may be amended by the Company, provided that unless
the Grantee consents in writing, the Company cannot amend this Agreement if the amendment will
materially change or impair the Grantee’s rights under this Agreement and such change is not to the
Grantee’s benefit.

          15.6 Successors and Assignment. Each and all of the provisions of this Agreement are
binding upon and inure to the benefit of the Company and the Grantee and their heirs, successors,
and assigns. However, neither the Restricted Stock nor this Agreement may be assigned or
transferred except as otherwise set forth in this Agreement or the Plan.

          15.7 Governing Law. This Agreement shall be governed and construed exclusively in
accordance with the laws of the State of Tennessee applicable to agreements to be performed in the
State of Tennessee.

[Signature page to follow.]

 

 

     IN WITNESS WHEREOF, the Company and the Grantee have executed this Agreement to be effective
as of             
                            .

	 	 	 	 	 
	 	PINNACLE FINANCIAL PARTNERS, INC.:

 	 
	 	By:  	 	 
	 	 	Name:  	Hugh M. Queener 	 
	 	 	Title:  	Chief Administrative Officer and Corporate

Secretary 	 
	 
	 	GRANTEE:

 	 
	 	By:  	 	 
	 	 	Name:exh41.htm

    Exhibit
4.1

    

    

    
      	
              Number

            	 
      	
              Shares

            
	 
      	
              EASTERN
      WORLD SOLUTIONS INC.

            	 
      
	 
      	
              INCORPORATED
      UNDER THE LAWS OF THE STATE OF NEVADA

            	 
      
	 
      	
              100,000,000
      SHARES COMMON STOCK AUTHORIZED,

            	 
      
	 
      	
              $0.00001
      PAR VALUE

            	 
      
	 
      	 
      	 
      
	 
      	 
      	
              CUSIP
      _______

            
	 
      	 
      	
              SEE
      REVERSE

            
	 
      	 
      	
              FOR

            
	
              This

            	 
      	
              CERTAIN

            
	
              certifies

            	 
      	
              DEFINITIONS

            
	
              that

            	 
      	 
      
	
              is
      the owner of

            	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              FULLY
      PAID AND NON-ASSESSABLE

            	 
      
	 
      	
              SHARES
      OF COMMON STOCK OF

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              EASTERN
      WORLD SOLUTIONS INC.

            	 
      
	 
      	
              transferable
      on the books of the corporation in person or by duly

            	 
      
	 
      	
              authorized
      attorney upon surrender of this certificate properly

            	 
      
	 
      	
              endorsed.  This
      certificate and the shares represented hereby

            	 
      
	 
      	
              are
      subject to the laws of the State of Nevada, and to the

            	 
      
	 
      	
              Articles
      of Incorporation and Bylaws of the Corporation,

            	 
      
	 
      	
              as
      now or hereafter amended.  This certificate is not
      valid

            	 
      
	 
      	
              unless
      countersigned by the Transfer Agent.  WITNESS

            	 
      
	 
      	
              the
      facsimile seal of the Corporation and the signature

            	 
      
	 
      	
              of
      its duly authorized officers

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              PRESIDENT

            	
              [SEAL]

            	
              SECRETARY

            

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The following abbreviations, when used
in the inscription on the face of this certificate, shall be construed as though
they were written out in full according to applicable laws or
regulations.

    

    
      	
              TEN
      COM

            	
              as
      tenants in common

            	
              UNIF
      GIFT MIN ACT

            	
              _____________________

            	
              Custodian

            	
              _______________________

            
	
              TEN
      ENT

            	
              as
      tenants by the entireties

            	 
      	
              (Cust)

            	 
      	
              (Minor)

            
	
              JT
      TEN

            	
              as
      joint tenants with the right of

            	
              Act

            	
              ____________________________________________________________

            
	 
      	
              survivorship
      and not as tenants

            	 
      	
              (State)

            
	 
      	
              in
      common

            	 
      	 
      

    

    

    Additional
abbreviations may also be used though not in the above list.

    

    
      	
              For value received,
      ______________________________________ hereby sell, assign and
      transfer unto

            
	 
      	
              PLEASE
      INSERT SOCIAL SECURITY OR OTHER

            	 
      
	 
      	
              IDENTIFYING
      NUMBER OF ASSIGNEE

            	 
      
	 
      
	
              _______________________________________________________________________________________________________________________________________________________

            
	
              (PLEASE
      PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE OF
      ASSIGNEE)

            
	 
      
	
                    
                _______________________________________________________________________________________________________________________________________________________

              

            
	 
      
	
                    
                _______________________________________________________________________________________________________________________________________________________

              

            
	 
      
	
                    
                _______________________________________________________________________________________________________________________________________________________

              

            
	 
      
	
              _____________________________________________________________________________
      shares of the capital
      stock represented by the within Certificate, and do hereby irrevocably
      constitute and appoint

            
	 
      
	
              _____________________________________________________________________________,
      Attorney to transfer the
      said stock on the books of the within named Corporation with full power of
      substitution in the premises.

            
	 
      
	
              Dated
      _______________________

            
	 
      
	
              X
      ________________________________________________________________________________

            
	
              THE
      SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON
      THE FACE OF 

              THIS
      CERTIFICATE IN EVERY PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT OR ANY
      CHANGE WHATSOEVER.  

              THE
      SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
      

              (Banks,
      Stockbrokers, Savings and Loan Associations and Credit
    Unions)

            

    

    

    

    

    SIGNATURE
GUARANTEED:

    

    

    

    

    

    TRANSFER
FEE WILL APPLY

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