Document:

Exhibit 10.1(d)

Salary Stock Unit Program
(Last revised as of January 23, 2013)

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 1.

 	
 Purpose.
 The purpose of the Program is to link more of each participant’s compensation
 to the company’s stock performance and facilitate retention of key
 executives. 

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 2.

 	
 Committee
 Actions. From time to time the Compensation Committee (CC) (a) will identify
 persons who are to receive a portion of salary in the form of salary stock
 units (SSUs), and (b) will determine the dollar amount of salary that each
 such person will receive in the form of SSUs, sometimes called the SSU
 crediting rate. The portion of salary in the form of SSUs may be in lieu of
 cash salary or supplemental to prior cash salary rates. The crediting of SSUs
 to each such person will continue while he or she is employed with FHN until
 the CC changes or ends the person’s participation or this SSU Program, unless
 the CC approves an automatic sunset date for participation in this Program or
 unless the CC limits participation to a specified year and fails to renew participation.
 It is expected that the CC will reconsider these determinations at least once
 each year, and in doing so the CC may make changes for a new year or period
 retroactive to the beginning of that year or period. The CC may change or
 eliminate the dollar amount of salary to be paid to a participant in the form
 of SSUs at any time; although such action would not affect
 previously-credited SSUs, no participant has any right to continue to receive
 new SSUs at any specific dollar level or at all. In addition, the CC may
 accelerate settlement of SSUs globally or for any participant based on the
 value of FHN stock at that time, and may change the terms of SSUs or this
 Program at any time. 

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 3.

 	
 SSU Terms
 and Mechanics. 

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 a.

 	
 For each
 person designated to participate in the Program by CC action beginning in
 2011, crediting of SSUs will occur quarterly in arrears commencing with the
 quarter in which CC action occurs, unless otherwise provided by the CC.
 Ideally, crediting dates will occur late in March, June, September, and
 December. However, in all cases crediting dates are subject to adjustment or
 delay for administrative reasons, and the CC may direct that a date be used
 in a particular instance. This provision does not disturb SSUs credited prior
 to January 1, 2011.

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 b.

 	
 When SSUs
 are credited to a participant for a particular quarter, the number of SSUs
 will equal the dollar amount of salary for that quarter to be paid in the
 form of SSUs (net of any applicable withholding taxes, as provided in
 paragraph f below) divided by the Ten-Day Average Value for that quarter. The
 number of credited SSUs will be calculated as the administrator determines
 but will not be rounded up. In any case where the pay period is less than a
 full quarter, a similar calculation using an appropriate Ten-Day Average
 Value will be performed for the shorter period as determined by the
 administrator. If the period is less than ten trading days, the value used
 will be the average closing price for all trading days within that period.

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 c.

 	
 For purposes
 of this Program, the “Ten-Day Average Value” for any quarter or shorter
 period is the average closing share price of FHN stock for any period of ten
 consecutive trading days selected by the administrator and occurring within
 that quarter or period. The administrator generally will favor the selection
 of a ten-day period later in the quarter or other period rather than earlier,
 but in each case may select the specific ten-day period based on
 administrative convenience. In addition, if a dividend record date or ex-date
 might occur within the valuation period the administrator may select the
 ten-day period to avoid unfair or inappropriate enlargement or dilution of
 value. 

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 d.

 	
 Settlement.

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (i)

 	
 SSUs credited in 2010 

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
 General Rule. Each SSU credited in 2010
 entitles the participant to receive the cash value of one share of FHN stock
 valued at the Ten-Day Average Value for the second quarter of 2012.

 

1

	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
 Settlement
 of SSUs will be made within 30 business days after the last day of the
 ten-day period used for valuation. In converting SSUs to cash values when
 settled, amounts will be calculated as the administrator determines but will
 not be rounded up.

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
 SEOs. For those participants who, in 2010,
 were “senior executive officers” (SEOs) under the Troubled Asset Relief
 Program (TARP) rules, the General Rule above applies subject to the changes
 provided in this paragraph. For SEOs, SSUs credited in the first two quarters
 of 2010 will be paid in March 2011, and SSUs credited in the second two
 quarters of 2010 will be paid in September 2011. The administrator will cause
 the SSUs to be paid early in each such month, subject to administrative
 considerations. Each SSU payment to SEOs will be calculated using the Ten-Day
 Average Value for February in respect of the March payment, and using the
 Ten-Day Average Value for August in respect of the September payment. 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (ii)

 	
 SSUs Credited after 2010 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
 Each SSU
 entitles the participant to receive the cash value of one share of FHN stock.
 SSUs credited in the first two quarters of any given year will be paid in
 June or July, and SSUs credited in the second two quarters of that year will
 be paid in December, of the year following the year of crediting. SSUs paid
 in June or July will be valued using the Ten-Day Average Value for the second
 quarter of the year of payment, and SSUs paid in December will be valued
 using the Ten-Day Average Value for the fourth quarter of that year. In
 converting SSUs to cash values when settled, dollar amounts will be
 calculated and rounded down (not up) as the administrator determines. 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 e.

 	
 SSUs will
 not be settled in actual shares of stock and will have no voting rights. An
 SSU will not be represented by any certificate or document, but instead will
 be credited on the books of FHN or its administrative agent. SSUs are a
 component of or supplement to salary and are not associated with any plan of
 FHN. 

 
	
  

 	
  

 	
  

 
	
  

 	
 f.

 	
 Taxes will
 be withheld in connection with a crediting or settlement event (as
 applicable) and remitted to government authorities as necessary or
 appropriate. Taxes withheld in connection with crediting may be withheld from
 salary paid in the form of cash or other contemporaneously paid compensation,
 or may reduce the number of SSUs credited, or both, as the administrator
 determines. Participants are not permitted to elect to be taxed on SSUs at
 the time of crediting. The current administrative determinations of these
 matters are: any FICA, medicare, and income taxes withheld in connection with
 crediting SSUs will reduce the dollar amount of salary which is to be
 converted into SSUs. 

 
	
  

 	
  

 	
  

 
	
  

 	
 g.

 	
 SSUs will be
 adjusted for stock dividends and splits that occur after crediting and prior
 to settlement in order to prevent enlargement or dilution of value. In making
 such adjustments, SSUs will be treated in a manner similar to ordinary shares
 except that calculated numbers of SSUs are to be rounded down (not up) as the
 administrator determines. The administrator will make appropriate adjustments
 for SSUs credited or settled near dividend and split record dates to account
 for the effects of ex-trading dates in the market prices of FHN shares, again
 in order to prevent enlargement or dilution of value. 

 
	
  

 	
  

 	
  

 
	
  

 	
 h.

 	
 If cash
 dividends are declared on FHN shares during the time that a participant holds
 SSUs, a cash amount will be credited to the participant equivalent to the
 cash dividend that would have been paid on a like number of ordinary FHN
 shares, calculated and rounded down (not up) as the administrator determines.
 Credited cash dividend equivalent amounts will not be converted into SSUs,
 will not accrue interest, and will be paid to the participant at the time
 that the associated SSUs are paid. Notwithstanding the foregoing, the administrator
 may prevent or omit the crediting of a cash dividend equivalent in order to
 prevent a participant from benefiting twice 

 

2

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 from that
 dividend whenever the dividend’s record date or ex-date occurs near the time
 of the ten-day period used for the Ten-Day Average Value.

 
	
  

 	
  

 	
  

 
	
  

 	
 i.

 	
 SSUs are not
 transferable. 

 
	
  

 	
  

 	
  

 
	
  

 	
 j.

 	
 Absent other
 action by the CC, if FHN merges or consolidates and as a result FHN shares
 cease to be publicly outstanding, then outstanding SSUs will be converted
 into units denominated in shares of the surviving or resulting company based
 on the transaction value. The conversion will be accomplished, to the extent
 practicable, so as to prevent enlargement or dilution of value. 

 
	
  

 	
  

 	
  

 
	
  

 	
 k.

 	
 SSUs are a
 special form of deferred salary. When cash salary no longer is paid to a
 participant, SSUs no longer will be credited. If cash salary previously paid
 to a participant were subject to forfeiture or reclamation for any reason,
 the associated SSUs similarly would be subject to forfeiture or reclamation.
 However, SSU crediting rates and cash salary rates may be adjusted
 independently of each other; a change in a participant’s cash salary rate
 does not automatically result in any change in that person’s SSU crediting
 rate, and vice-versa. 

 
	
  

 	
  

 	
  

 
	
  

 	
 l.

 	
 The timing,
 pricing, and other administrative determinations associated with SSU
 recipients who are subject to Form 4 reporting may differ from those of other
 Program participants. Currently, no such differences have been approved by
 the administrator. 

 
	
  

 	
  

 	
  

 
	
 4.

 	
 Termination
 of Employment.

 
	
  

 	
  

 	
  

 
	
  

 	
 a.

 	
 Subject to
 the exceptions set forth below, credited SSUs will be forfeited unless the
 participant is continuously employed by FHN or a subsidiary through the
 payment date of the SSUs. 

 
	
  

 	
  

 	
  

 
	
  

 	
 b.

 	
 Notwithstanding
 paragraph a., if a participant dies, his or her credited and unpaid SSUs will
 not be forfeited as a result of death, and settlement of the SSUs will be
 accelerated in an equitable and appropriate manner determined by the
 administrator. The valuation date for any such settlement will be the first
 trading day following the date of death. 

 
	
  

 	
  

 	
  

 
	
  

 	
 c.

 	
 Notwithstanding
 paragraph a., if a participant’s employment with FHN terminates as a result
 of disability, then his or her credited and unpaid SSUs will not be forfeited
 as a result of that termination, and settlement of the SSUs will occur at the
 ordinary times set forth in this Program. Moreover, the CC may approve a full
 or pro-rated waiver of forfeiture, and may approve an acceleration of
 vesting, in the context of a normal or early retirement. For this purpose,
 “normal retirement” and “early retirement” have the meanings given in the
 Equity Award Administration Procedures, and “disability” means a disability
 that would qualify as a total and permanent disability under the long-term
 disability plan then in effect at FHN, or (if different) at the FHN
 subsidiary employing the participant, at the onset of such total and
 permanent disability. 

 
	
  

 	
  

 	
  

 
	
  

 	
 d.

 	
 Notwithstanding
 paragraph c., a participant who has terminated employment but retained SSUs
 due to retirement or disability shall forfeit all of those retained SSUs if,
 at any time during the period prior to the latest payment date of any SSUs
 credited to him or her at the time of termination, the participant engages in
 any competitive activity. Each of the CC and the administrator has the
 discretion to determine whether any particular activity is competitive with
 FHN or any of its subsidiaries. 

 
	
  

 	
  

 	
  

 
	
 5.

 	
 No Elective
 Deferrals. Participants may not elect to defer the
 settlement of SSUs beyond the mandatory deferral period provided in the
 program above. SSUs are not eligible for elective deferral under any deferral
 plan or program of FHN, even if those plans or programs generally allow
 deferral of salary. Outstanding salary deferral elections shall not apply to
 SSUs. 

 
	
  

 	
  

 	
  

 
	
 6.

 	
 Treatment of
 SSUs as Base Salary. SSUs are, or are not, to be
 treated as base salary under the plans and programs listed below. For any
 plan or program not listed, SSUs shall not be treated as base salary unless
 the administrator determines otherwise; any such determinations must be
 reported to the CC at or before its next quarterly meeting. 

 

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 SSUs,
 measured at the crediting rate and date rather than the ultimate payment
 amount and date, are treated as base salary for the following (subject to the
 limitation in the next sentence): 

 
	
  

 	
  

 	
  

 
	
  

 	
 a.

 	
 For SSUs
 credited through December 31, 2012: retirement and retirement restoration
 plans, including pension plans and savings plans. 

 
	
  

 	
  

 	
  

 
	
  

 	
 b.

 	
 All life and
 disability benefit and insurance programs. 

 
	
  

 	
  

 	
  

 
	
  

 	
 c.

 	
 Other
 programs treated as ‘benefit’ programs by FHN’s Human Resources division.
 This provision does not include severance programs.

 
	
  

 	
  

 	
  

 
	
  

 	
 For each such case, the
 amount of SSUs treated as base salary shall not exceed $200,000 per person
 per calendar year. 

SSUs are not
 treated as base salary for the following: 

 
	
  

 	
  

 	
  

 
	
  

 	
 d.

 	
 For SSUs
 credited beginning January 1, 2013: retirement and retirement restoration
 plans, including pension plans and savings plans, whether or not frozen. 

 
	
  

 	
  

 	
  

 
	
  

 	
 e.

 	
 Change in
 control severance agreements and any change in control severance plan or
 program that may apply to a holder of SSUs.

 
	
  

 	
  

 	
  

 
	
  

 	
 f.

 	
 Any other present or future
 severance plan, program, or agreement. 

 
	
  

 	
  

 	
  

 
	
 7.

 	
 Administration.
 The Chief Human Resources Officer is the program administrator with authority
 to oversee all administrative matters related to the SSU program. All
 administrative actions must further the purposes of the program and be
 compatible with legal requirements and appropriate tax and accounting
 outcomes. The administrator may deviate from or modify the following program
 provisions under this authority: any provision governing a crediting date or
 a settlement date or a date as of which FHN stock is valued to convert cash
 amounts into SSUs, or SSUs into cash, provided that such a provision may be
 changed only out of demonstrable administrative necessity and must be
 reported at the next quarterly CC meeting; for any calculation, any provision
 governing a number of decimal places or a rounding convention; and, any
 provision to the extent necessary to comply with legal requirements, to avoid
 a legal penalty or forfeiture, or to obtain or preserve appropriate tax and
 accounting outcomes, provided that in no case may actual shares of stock be
 issued in settlement of SSUs. 

 

4EXHIBIT 10.4(k)

SECTIONS OF DIRECTOR POLICY

PERTAINING TO COMPENSATION

 

(As amended January 23, 2013)

 

This exhibit sets forth excerpts from the Director Policy of First
Horizon National Corporation of all sections in that Policy pertaining to compensation of directors. Other sections of the Policy
have been omitted.

______________________________________________________________

 

I.  STATEMENT
  OF POLICY

* * * * *

Compensation (effective starting April 1, 2013)

In addition to the other compensation set forth in this section,
outside directors on the FHNC Board will receive the compensation set forth in the table below for their service as a director.
Scheduled daily fees for any period are based on regular meeting days scheduled for that period. Such fees vary with committee
assignment and chair rank but do not vary with actual attendance. No extra compensation is paid for special meetings. Outside directors
are not separately compensated for FTB Board or FTB committee service except for regular scheduled meetings (if any) that do not
occur jointly with the FHNC Board or committee. Inside directors will receive no compensation for Board or committee membership,
Board or committee chairmanship, or attendance.

	Retainer	$25,000 annually ($6,250 quarterly), 	Cash
	$45,000 annually ($11,250 quarterly)	RSUs
	Scheduled Daily Board Fee	$2,000 per regular scheduled meeting day	FSUs
	Scheduled Daily Committee Fees (non-

    chairperson committee members)	 	 
	Audit	$2,000 per regular scheduled meeting day	FSUs
	All Other Committees	$1,500 per regular scheduled meeting day	FSUs
	Scheduled Daily Committee Fees 

    (committee chairpersons)	 	 
	Audit and Executive & Risk	$5,000 per regular scheduled meeting day	FSUs
	Compensation	$6,000 per regular scheduled meeting day	FSUs
	All Other Committees	$4,000 per regular scheduled meeting day	FSUs
	Outside Chairman of the Board 

    Additional Retainer*	$125,000 annually ($31,250 quarterly)	Cash*
	Lead
        Director Additional Retainer	$20,000 annually (grant in advance)	FSUs

*  Amount shown is an addition to the
regular retainer. The Board may determine to pay this additional retainer in whole or part in RSUs. If there is an outside Chairman,
the Chairman’s additional retainer is to be paid in lieu of all scheduled daily committee fees other than for service on
the Executive & Risk Committee.

The cash portion of the retainer will be paid quarterly in
advance. The RSU portion of the retainer, the scheduled daily fees, and the lead director additional retainer will be paid in RSUs
and FSUs, respectively, granted annually in 

 

advance
  as provided below. Directors are permitted to elect to defer cash payments
  from the quarterly retainer and from FSU vestings into an interest-accruing
  account of the First Horizon National Corporation Non-Qualified Deferred Compensation
  Plan or any other duly adopted deferral plan, now existing or hereafter approved.
  As used in this section of this Policy, a “year” consists of the
  last three quarters of a calendar year plus the first quarter of the next year.

The dollar amount of the RSU portion of the retainer will
be converted into an annual award of restricted stock units (“RSUs”) granted under FHNC’s Equity Compensation
Plan or any duly adopted successor plan. The aggregate dollar amounts of the scheduled daily fees associated with each non-employee
director, and the annual amount of the lead director additional retainer, will be converted into an annual award of fee stock units
(“FSUs”) granted under FHNC’s Equity Compensation Plan or any duly adopted successor plan. However, the Board’s
Compensation Committee may determine that FSUs are to be granted outside of such Plan if appropriate and convenient. An RSU and
an FSU each represent the value of a share of FHNC common stock as provided below. An RSU is paid in stock at vesting, while an
FSU is paid in cash at vesting.

RSU and FSU (collectively, “Stock Unit”) awards
for any given year are to be granted annually in advance promptly after the organization meeting of the Board following the annual
meeting of shareholders based on committee assignments and lead director status established or continued at that Board meeting
and the meeting days scheduled for that year. The number of RSUs to be granted for the year will be determined by dividing the
annual dollar amount of the RSU-retainer by the average fair market value of FHNC’s common stock measured during the period
of five consecutive trading days ending on the trading day immediately preceding the organization meeting of the Board for the
year. The number of FSUs to be granted to any non-employee director for the year will be determined by dividing the aggregate annual
dollar amount of scheduled daily Board and committee fees by the same average fair market value used for the RSUs for that year.

Stock Units granted to directors: generally will vest on
April 2 of the year following grant; will earn dividend equivalents that will cumulate without interest and be paid in cash at
vesting; and will carry no voting or other rights associated with actual stock. When FSUs vest the cash amount will be determined
using the average fair market value of FHNC’s common stock measured during the period of five consecutive trading days ending
on the trading day immediately preceding the vesting date. When vesting occurs, shares or cash (as applicable) will be delivered
reasonably promptly (but no more than four weeks) thereafter, and may be delivered electronically, through an administrative vendor,
or otherwise as is administratively convenient. Each director is responsible for any income or other taxes associated with Stock
Units.

If a director ceases to serve on the Board for any reason,
then all unvested Stock Units will be forfeited unless the departure is due to one of these exceptions: death, disability, acceptance
of a Bylaw tender, normal shareholder action, or change in control. In cases involving one of those exceptions: forfeiture will
be avoided and vesting of Stock Units will be accelerated to the date of departure. In addition, in connection with retirement
a director may request the Board to waive forfeiture caused by that departure in whole or part. For purposes of non-employee director
equity-based awards: “disability” means total and permanent disability; and “fair market value” and “change
in control” have the meanings given in the plan under which the award was granted. A “Bylaw tender” by a director
is a tender of resignation required by Section 7.1(b) of FHNC’s Bylaws (or any successor section) associated with the director
leaving his or her principal outside position; and, an “acceptance” of a Bylaw tender means the acceptance by the Board
of such a tender of resignation. A director would leave the Board by “normal shareholder action” if he or she stands
for re-election at the annual or other meeting of shareholders and either is voted out of office directly or fails to receive a
majority of the votes cast and as a result is required to tender his or her resignation which is accepted by the Board. “Normal
shareholder action” does not include removal from the Board for misconduct or other cause. Although the Board may act as
it deems appropriate, traditionally for non-employee directors “retirement” means any termination, not caused by death
or disability, after the attainment of age 65 or ten years of service as a director of FHNC.

No director who is not standing for re-election at the next
annual meeting is entitled to any portion of the retainer pertaining to the second quarter of his or her final year in office.
No continuing director is entitled to any portion of the retainer pertaining to the second quarter of any year, nor to any award
of Stock Units for the year, unless and until: (a) he or she has been re-elected at the annual meeting of shareholders that year
and has not resigned pursuant to a Bylaw tender; or (b) if the regular Board meeting of the second quarter begins prior to the
annual meeting, he or she attends and participates as a director in that regular Board meeting.

If a new non-employee director first is elected to the Board
after the annual meeting of shareholders, his or her quarterly retainer generally will begin with that quarter during which he
or she first attends, and participates as a director in, a regular quarterly Board meeting. For example, a new non-employee director
who is first elected in October, who attends the regular Board meeting for the fourth quarter, and who participates in that meeting
as a director, would receive the quarterly retainer for the fourth quarter. A partial-year award of retainer RSUs will be granted,
in advance, based on that pro-rating process. A similar pro-rating process will apply to determining the amount of scheduled daily
board and committee fees used to make a partial-year award of FSUs. Such fees for the 

 

remainder
  of the year will be determined based on the new director’s initial committee
  assignments and the first committee meetings he or she is scheduled to attend
  and participate as a director in. Partial-year RSUs and FSUs will be granted
  at such time or times as management determines to be convenient and appropriate.

If a non-employee director’s committee assignments
are changed after the grant date of unvested FSUs, management shall determine if that change would have increased or reduced such
FSUs had the new assignment been in place at the beginning of that year. If the assignment change would have increased the FSUs,
the director will receive a supplemental award of FSUs based on a pro-rating process administered by management similar to that
used for new directors. If the assignment change would have decreased the FSUs, the unvested FSUs shall not be reduced or adjusted.
If assignment changes are made more than once for a particular director during a year, management shall apply the principles of
this paragraph as equitably as possible to avoid an unfair windfall or shortfall.

If at the time of FSU grant the meeting schedule for the
new year has not been established, the grant for that year will be based on the schedule for the most recently completed year.
If the regular meeting schedule for a year is finalized in manner different from that used to grant FSUs or is altered after FSUs
are granted (collectively, a “schedule change”), then no supplemental FSUs will be granted automatically, nor will
outstanding FSUs be reduced automatically, as a result of the schedule change. The Board may elect to make a supplemental grant
of FSUs consistent with the schedule change; the Board may not cause a unilateral reduction of outstanding FSUs as a result of
a schedule change.

If a grant date for Stock Units specified above would occur
within five trading days prior to FHNC’s announcement of quarterly earnings, the grant date will be postponed until shortly
after the earnings announcement, consistent with the Compensation Committee’s regular grant practices for employee stock
awards.

The foregoing Stock Unit awards are to be made automatically
without further action by the Board. However, in a particular case or circumstance, the Board may change or make specific exceptions
to any equity award otherwise called for above. The Board may waive any forfeiture in whole or part in its discretion, subject
to any conditions the Board may choose to impose. Directors may receive such other awards under the Company’s Equity Compensation
Plan, or any duly adopted successor plan, as may be approved by the Board. Perquisites and other benefits for non-employee directors
are to be provided or paid as approved by the Board.

To improve the directors’ knowledge and understanding
of FHNC and FTB and their markets, customers, and officers, and to enhance each director’s service as a director of FHNC,
FHNC’s non-employee directors are encouraged to become, where practicable, members of one of FTB’s Regional Boards.
A director who becomes a member of a Regional Board shall not be compensated as a member of the Regional Board but shall receive
attendance fees for attendance at Regional Board meetings (at the same rate as is paid for other Regional Board members, not to
exceed $500 per meeting) as part of his or her FHNC director compensation. Such director shall report back to the FHNC Board regarding
his or her attendance at Regional Board meetings. Membership by an FHNC director on a Regional Board is deemed by FHNC’s
Board of Directors to be part of the FHNC director’s service as a director of FHNC.

The provisions of this Compensation section which were in
effect on October 16, 2012 will continue in effect through March 31, 2013.

* * * * *

Retirement

Directors of FHNC or FTB shall be retired
from the Board of Directors in accordance with the applicable provisions of the Bylaws of FHNC or FTB as in effect on the date
hereof and as they may be amended from time to time.

Other

This policy shall be implemented by the
Chairman of the Board in cooperation with the Nominating and Corporate Governance Committee of the Board of Directors of FHNC and
FTB. The Chairman of the Board may adopt appropriate interpretations and procedures to assist in implementation of this Policy.

III.   DELEGATION
OF AUTHORITY

The Chairman of the Board and the Nominating and Corporate
Governance Committee severally are delegated the authority to make exceptions to any provision of this Policy except the provisions
dealing with compensation, retirement, and any matter required by the Charter or Bylaws of FHNC or FTB, or by any law, regulation
or listing standard, to be acted upon only by the Board. Any exception to this policy shall be reported to the Board at its next
regularly scheduled meeting.

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