Document:

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                                                                    EXHIBIT 10.9

                     FORM OF DIRECTOR STOCK OPTION AGREEMENT
                               HEALTHSTREAM, INC.
                            2000 STOCK INCENTIVE PLAN

 OPTION GRANTED THIS ____ DAY OF ______, 200__ ("GRANT DATE") BY HEALTHSTREAM,
               INC. (THE "COMPANY") TO Optionee (THE "DIRECTOR").

            1. Stock Option. The Company hereby grants to the Director an option
(the "Option") to purchase up to ______ shares of the common stock of the
Company, no par value, to be issued upon the exercise of the Option, in the
manner hereafter set forth, fully paid and nonassessable. This Option is being
granted under the provisions of the Company's 2000 Stock Incentive Plan (the
"Plan"), which are incorporated herein by reference. The Plan is administered by
the Compensation Committee of the Board of Directors of the Company.

            2. Time of Exercise. This Option shall be exercisable and have a
term as follows:

                  (a) This Option shall expire on the tenth anniversary of the
      Grant Date.

                  (b) One hundred percent (100%) of the shares granted under
      this Option shall vest and become exercisable on the Grant Date.

                  (c) This Option shall be exercisable only in the lesser of
      round lots of One Hundred (100) shares or the total number of shares
      remaining under this Grant.

            3. Purchase Price. The purchase price per share shall be _____,
being not less than the fair market value of the common stock as of the Grant
Date.

            4. Rights as a Shareholder. The Director shall have no rights as a
shareholder with respect to any shares covered by this Option until the Director
has given written notice of exercise, has paid in full for such shares and taken
such other actions as may be required by the Committee in accordance with the
provisions of the Plan. No adjustment shall be made for dividends for which the
record date is prior to the date of issuance of such stock certificate.

HEALTHSTREAM, INC.

_____________________________________

_____________________________________

The undersigned:

            (a) Acknowledges receipt of the foregoing Option and the attachments
referenced therein and understands that all rights and liabilities with respect
to this Option and the Plan; and

            (b) Acknowledges that as of the date of grant of this Option, it
sets forth the entire understanding between the undersigned Director and the
Company and its Affiliates regarding the acquisition of stock in the Company
pursuant to this grant and supersedes all prior oral and written agreements on
that subject.

_____________________________________

OPTIONEE<PAGE>

                                                                   EXHIBIT 10.10

          FORM OF EMPLOYEE AND EXECUTIVE OFFICER STOCK OPTION AGREEMENT
                               HEALTHSTREAM, INC.
                            2000 STOCK INCENTIVE PLAN

  OPTION GRANTED THIS ____ DAY OF ______, 200__ ("GRANT DATE") BY HEALTHSTREAM,
               INC. (THE "COMPANY") TO Optionee (THE "EMPLOYEE").

            1. Stock Option. The Company hereby grants to the Employee an option
(the "Option") to purchase up to _____ shares of the common stock of the
Company, no par value, to be issued upon the exercise of the Option, in the
manner hereafter set forth, fully paid and nonassessable. This Option is being
granted under the provisions of the Company's 2000 Stock Incentive Plan (the
"Plan"), which are incorporated herein by reference. The Plan is administered by
the Compensation Committee of the Board of Directors of the Company.

            2. Time of Exercise. This Option shall be exercisable and have a
term as follows:

                  (a) This Option shall expire on the eighth anniversary of the
      Grant Date.

                  (b) One fourth (1/4) of the shares granted under this Option
      shall vest and become exercisable on the first anniversary of the Grant
      Date.

                  (c) One half (1/2) of the shares granted under this Option
      shall vest and become exercisable on the second anniversary of the Grant
      Date.

                  (d) Three fourths (3/4) of the shares granted under this
      Option shall vest and become exercisable on the third anniversary of the
      Grant Date.

                  (e) The remaining one fourth (1/4) of the shares granted under
      this Option shall vest and become exercisable on the fourth anniversary of
      the Grant Date.

                  (f) This Option shall be exercisable only in the lesser of
      round lots of One Hundred (100) shares or the total number of shares
      remaining under this Grant.

            3. Purchase Price. The purchase price per share shall be _______,
being not less than the fair market value of the common stock as of the Grant
Date.

            4. Rights as a Shareholder. The Employee shall have no rights as a
shareholder with respect to any shares covered by this Option until the Employee
has given written notice of exercise, has paid in full for such shares and taken
such other actions as may be required by the Committee in accordance with the
provisions of the Plan. No adjustment shall be made for dividends for which the
record date is prior to the date of issuance of such stock certificate.

HEALTHSTREAM, INC.

_______________________________

_______________________________

The undersigned:

            (a) Acknowledges receipt of the foregoing Option and the attachments
referenced therein and understands that all rights and liabilities with respect
to this Option and the Plan; and

            (b) Acknowledges that as of the date of grant of this Option, it
sets forth the entire understanding between the undersigned Employee and the
Company and its Affiliates regarding the acquisition of stock in the Company
pursuant to this grant and supersedes all prior oral and written agreements on
that subject.

_______________________________

OPTIONEE<PAGE>

                                                                   EXHIBIT 10.11

                             FORM OF CASH BONUS PLAN
                               HEALTHSTREAM, INC.

Methodology

The primary financial measurement underlying our cash bonus plan will be EBITDA.
This measure is intended to allow for comparability between periods and
generally will exclude the impact of non-cash items or accounting changes. If
net revenues are less than 95% of budgeted revenues, management will reduce the
bonus calculations by 5-10 % depending on the extent and circumstances of the
unfavorable variance. Only non-commissioned employees are eligible for
participation in the cash bonus plan.

Method of Bonus Calculation

The calculation is based on the employee's level and role within the company.
Bonus amounts shall be adjusted to reflect movement from commissioned to
non-commissioned roles, as well as leave of absences, employment for less than
the entire year or other changes in roles and responsibilities.

Participant Level descriptions and participation

Once results have exceeded budgeted EBITDA results, bonuses will begin to be
earned. Calculations by participant shall be subject to the following levels and
participation:

Level 1- Includes all positions within the company that generally don't have
         managerial responsibilities as a component of their job description
        (up to 10% of base compensation)

Level 2- Includes positions that have supervisory and/or project
         responsibilities and have the title of Manager (up to 15% of base
         compensation)

Level 3- Includes Business Directors and Vice Presidents (up to 20% of base
         compensation)

Level 4- Includes the CEO and Senior Vice Presidents (up to 25% of base
         compensation)

Bonus Amount - Any payout over the budgeted EBITDA target will be self-funding
(that is to say, bonus payout would represent only a portion of the incremental
EBITDA achievement over budget).

Timing - The Plan will run from January 1 through December 31. A summary of the
plan shall be provided to all employees explaining the plan.

Administration - The plan shall be administered by the Compensation Committee of
the Board of Directors.

Payout - On or about March 15 of the following year, contingent upon employment
on the payment date. Management has been granted discretion with regard to
timing of payment for up to 75% of any bonus earned during the first half of the
year for Level 1 and 2 employees.<PAGE>

                                                                    EXHIBIT 10.9

              NAMED EXECUTIVE OFFICER SALARIES AND BONUS PAYMENTS

Base Salaries

      The base salaries for 2006 for the executive officers of Heritage
Financial Group (the "Company") and HeritageBank of the South (the "Bank") who
will be named in the compensation table that will appear in the Company's
upcoming 2006 annual meeting proxy statement (the "named executive officers")
are as follows:

<TABLE>
<CAPTION>
                  Name and Title                                 Base Salary
<S>                                                              <C>
O. Leonard Dorminey
President and Chief Executive of the Company                      $263,952
Chief Executive Officer of the Company

Carol W. Slappey
President of the Bank                                             $162,282

Tammy W. Burdette
Executive Vice President and Chief Financial Officer of           $126,672
the Company and the Bank

O. Mitchell Smith                                                 $124,821
Executive Vice President and Senior Credit Officer of the
Company and the Bank
</TABLE>

Bonus Payments

      The Company has a discretionary bonus plan. In November 2005, the
Compensation Committee authorized a discretionary bonus of 25 % of 2005 base
salary to the named executive officers listed below. In determining this bonus,
the Compensation Committee considered the successful completion of the public
offering and the data processing conversion in 2005 and the Company's earnings
as compared to earnings of regional peers.

<TABLE>
<CAPTION>
   Name and Title                            Amount of Bonus
   --------------                            ---------------
<S>                                          <C>
O. Leonard Dorminey                              $63,500

Carol W. Slappey                                 $39,000

Tammy W. Burdette                                $30,500
</TABLE>

      In 2005, the President and Chief Executive Officer of the Company had
authority to approve bonuses to our fourth named executive officer, O. Mitchell
Smith. During 2005, Mr. Smith received a $15,000 signing bonus when he joined
the Company in February and was awarded a 15% of salary, or $16,800
discretionary bonus in December 2005. In 2006, Mr. Smith's bonuses will be
determined by the Compensation Committee.

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