Document:

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                                                                    EXHIBIT 10.3

                              COMMUNITY FIRST, INC.
                         EMPLOYEE STOCK OPTION AGREEMENT

         THIS AGREEMENT (the "Agreement") is made and entered into as of this
_____ day of _______________, 2002, by and between COMMUNITY FIRST, INC. (the
"Company"), a Tennessee corporation and bank holding company with its principal
place of business in Columbia, Tennessee, and
___________________________________________________, ("Optionee").

         WHEREAS, the Company is the sole shareholder of Community First Bank &
Trust (the "Bank"); and

         WHEREAS, the Company became the sole shareholder of the Bank pursuant
to a share exchange effective as of August 1, 2002 (the "Share Exchange"); and

         WHEREAS, prior to the Share Exchange, the Bank had in place the
Community First Bank & Trust Stock Option Plan (the "Bank Plan") which among
other things authorized the grant of options to acquire stock of the Bank to
certain employees of the Bank at the discretion of the board of directors of the
Bank; and

         WHEREAS, pursuant to the Bank Plan, the Bank had entered into an
Employee Stock Option Agreement, dated as of ____________________, ____, (the
"Original Grant Date") with Optionee pursuant to which the Bank granted Optionee
the option to purchase certain stock of the Bank (the "Bank Option Agreement");
and

         WHEREAS, in connection with the Share Exchange, the Company and the
Bank entered into an agreement pursuant to which the Company assumed the
obligations of the Bank under the Bank Plan and under all stock option
agreements entered into by the Bank pursuant to the Bank Plan and further agreed
to amend and restate the Bank Plan and all such option agreements so that they
would be on substantially the same terms as immediately before the Share
Exchange except that such option agreements would provide for options to acquire
stock in the Company rather than stock in the Bank and all obligations of the
Bank thereunder would be obligations of the Company rather than the Bank; and

         WHEREAS, the Company has adopted the Community First, Inc. Stock Option
Plan (the "Plan") to amend, restate, replace, and supersede the Bank Plan in
accordance with the foregoing; and

         WHEREAS, the Company and the Optionee desire to enter into this
Agreement to amend, restate, replace, and supersede the Bank Option Agreement;

         NOW, THEREFORE, in consideration of the foregoing, the mutual covenants
contained herein, and other good and valuable consideration, the receipt and
sufficiency of all of which are hereby acknowledged, the parties agree as
follows:

         1.       The Plan amends, restates, replaces, and supersedes the Bank
Plan and this Agreement amends, restates, replaces, and supersedes the Bank
Option Agreement. Neither the Company nor the Bank shall have any further
obligations under the Bank Plan or under the Bank Option Agreement, and the
Optionee shall have no rights under the Bank Plan or the Bank Option Agreement.
The Optionee hereby waives any right he or she may have had to receive notice of
the Share Exchange or the amendment, restatement, replacement, and/or
superseding of the Bank Plan or the Bank Option Agreement. The Optionee agrees
that neither the Share Exchange nor the amendment, restatement, replacement, or
superseding of the Bank Plan or the Bank Option Agreement result in the vesting
of any options to acquire stock of the Bank or the Company.

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         2.       The Company hereby grants to Optionee, and Optionee hereby
accepts, an option to purchase ________________________________ (________)
shares of common stock, Ten and No/100 Dollars ($10.00) par value of the Company
(the "Stock"), at an option price of _______________________________ Dollars
($_______) per share of stock (the "Employee Options"). This Agreement shall be
limited and construed as necessary in order that the Employee Options may be
treated as Non-Qualified Stock Options for federal income tax purposes and not
be treated as Incentive Stock Options.

         3.       The Employee Options granted herein shall vest at the rate of
one-third (1/3) of the total number of shares granted under this Agreement,
rounded down to the nearest whole number of shares, on each of the first and
second anniversaries of the Original Grant Date and the remainder shall vest on
the third anniversary of the Original Grant Date.

         4.       Subject to the terms of paragraphs 5 and 6, any vested
Employee Options may be exercised at any time during the period between their
vesting date and the close of the business day coinciding with, or immediately
following, the tenth anniversary of the Original Grant Date. Any Employee
Options that are unexercised after such time shall expire immediately as of that
date.

         5.       Subject to the terms of paragraph 6, in the event of the
Optionee's death, the transferee of the Employee Options granted by this
Agreement shall have one year after the date of the Optionee's death to exercise
all, or any portion of, such Employee Options which have become vested, and any
Employee Options that are unexercised as of the close of the business day
coinciding with, or immediately following, such date shall expire immediately.

         6.       Notwithstanding any provision of this Agreement, in the event
the Company or the Bank fails to satisfy the minimum regulatory requirements
relating to its capitalization, vested and unvested Employee Options shall be
subject to one or more of the following actions by the primary state or federal
regulator:

                  (a)      The requirement of immediate exercise of all, or any
         portion of, Optionee's unexercised Employee Options;

                  (b)      The suspension of the right to exercise all, or any
         portion of, Optionee's unexercised Employee Options;

                  (c)      The forfeiture of all, or any portion of, Optionee's
         unexercised Employee Options.

         7.       Payment of the option price shall be made in cash or any other
form acceptable to the Board of Directors of the Company.

         8.       In the event of any increase in the number of issued shares of
the Stock by reason of stock dividends or stock splits, the Company, in its
discretion, may make any such adjustment that it deems appropriate in the total
number of shares covered by any unexercised Employee Options and the exercise
price thereof.

         9.       If the Company shall be consolidated with or merged with or
into another entity (whether or not the Company shall be the surviving entity),
or shall enter into a share exchange, or shall sell all or substantially all of
its assets as part of a reorganization within the meaning of Section 368 of the
Internal Revenue Code of 1986, as amended, or shall reclassify or reorganize its
capital structure (except a stock dividend, split, or combination covered by
Section 8 hereof), the number and kind of shares subject to the Employee Options
shall be increased or decreased to reflect the number and kind of shares to
which the Optionee would have been entitled to receive in connection with such
transaction if the shares subject to the Employee Options had been issued and
held by

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Optionee on the record date for such transaction. Notice of such consolidation,
merger, sale, share exchange, reclassification, or reorganization and of said
provisions proposed to be made shall be mailed to the Optionee not less than
thirty (30) days prior to such record date. As a condition to any
reorganization, reclassification, consolidation, merger or sale, in which the
Company is not the survivor, or any share exchange in which the shareholders
exchange or are deemed to have exchanged all of their shares of stock in the
Company for shares of stock of some other entity, the Company or any successor,
surviving, acquiring, or purchasing corporation, or other party to an exchange,
as the case may be, shall agree that it is bound by this Agreement, that it will
satisfy all of the obligations of the Company hereunder and that the Optionee
shall have the right, upon exercise of the Employee Options, on the terms and
conditions hereof, to receive the kind and amount of stock, securities or assets
receivable upon such reorganization, reclassification, consolidation, merger,
sale, or exchange by a shareholder of the number of shares of Stock issuable
upon exercise of this Option immediately prior to such reorganization,
reclassification, consolidation, merger, or sale, subject to adjustments which
shall be as nearly equivalent as may be practicable to the adjustments provided
for in this Section 9; provided, however, that Optionee shall be required to
exercise all such options within twenty-four (24) months from the date of such
reorganization, reclassification, consolidation, merger, sale, or exchange.

         10.      When the transfer of the Stock covered by the Employee Options
may, in the opinion of the Company, conflict or be inconsistent with any
applicable law or regulation of any governmental agency having jurisdiction over
the Company or the Bank or any subsidiary of either the Company or the Bank, the
Company reserves the right to refuse to transfer such Stock, and shall return
any tendered option price therefore.

         11.      The Optionee shall have none of the rights of a shareholder
with respect to any Stock subject to the Employee Options until such Stock shall
be issued upon exercise of such Option.

         12.      The Optionee may freely assign or transfer the Options granted
in this Agreement to the extent permitted by law. Options so transferred or
assigned shall remain subject to the provisions of Paragraphs 5 and 6 of this
Agreement.

         13.      The terms of the Plan, pursuant to which this Agreement is
made, are incorporated herein by reference and expressly made a part of this
Agreement.

         14.      This Agreement shall be construed under the substantive laws
and procedural provisions of the State of Tennessee, without regard to
principles of conflict of laws, unless otherwise governed by federal law.

         15.      This Agreement and the Plan represent the entire agreement
with respect to the subject matter hereof and supercede all previous agreements,
including without limitation, the Bank Option Agreement.

         IN WITNESS WHEREOF, the Company has caused this Agreement to be
executed by its duly authorized officer and Optionee has accepted the Employee
Options, subject to the terms and conditions herein set forth, as of the date
first written above.

COMMUNITY FIRST, INC.                                 OPTIONEE

By:
   --------------------------------    -----------------------------------------

     Title:                            Print Name:
           ------------------------               ------------------------------<PAGE>

                                                                    EXHIBIT 10.4

                    AMENDED AND RESTATED EMPLOYMENT AGREEMENT

         This Amended and Restated Employment Agreement (the Agreement) is made
effective as of May 15, 2002, by and between COMMUNITY FIRST BANK AND TRUST (the
Bank), Columbia, Tennessee, and Mark W. Hines (the Executive).

                                   WITNESSETH:

         WHEREAS, the Bank wishes to assure itself of the services of Executive
for the period provided in this Agreement;

         WHEREAS, the Executive is willing to serve in the employment of the
Bank on a full-time basis for said period; and

         WHEREAS, the Agreement modifies, amends and restates that certain
Employment Agreement dated May 17, 1999 between Executive and Bank.

         NOW, THEREFORE, in consideration of the mutual covenants herein
contained, and upon the other terms and conditions hereinafter provided, the
parties hereby agree as follows:

         1.       POSITION AND RESPONSIBILITIES.

         During the period of his employment hereunder, Executive agrees to
serve as President of the Bank.

         2.       TERMS AND DUTIES.

         (a)      The term of this Agreement shall be deemed to have commenced
as of the date first above written and shall continue for a period of
twenty-four (24) calendar full months thereafter. Commencing on the first
anniversary date, which is defined as the last day of the 24-month term, the
Agreement will renew automatically for an additional twenty-four (24) months
provided that notice to the other party of an intent to terminate has not been
delivered not more than one hundred eighty (180) but not less than ninety (90)
days prior to the renewal date or unless the Agreement is otherwise terminated
or amended by mutual agreement. Unless amended by the parties hereto in writing,
the term of this Agreement shall continue in this fashion at successive
twenty-four (24) month intervals.

         (b)      During the period of his employment hereunder, except for
periods of absence occasioned by illness, vacation periods, and leaves of
absence, Executive shall devote substantially all his business time, attention,
skill, and efforts to the faithful performance of his duties hereunder including
activities and services related to the organization, operation and management of
the Bank;

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provided, however, that, from time to time, Executive may serve, or continue to
serve, on the boards of directors of, and hold any other offices or positions
in, companies or organizations, which will not materially affect the performance
of Executive I s duties pursuant to this Agreement.

         3.       COMPENSATION AND REIMBURSEMENT.

         (a)      The compensation specified under this Agreement shall
constitute the salary and benefits paid for the duties described in Sections I
and 2. The Bank shall pay Executive as compensation a salary of
_________________ Thousand Dollars ($112,750) per year (Base Salary). Such Base
Salary shall be payable in accordance with the customary payroll practices of
the Bank. During the period of this Agreement, Executive's Base Salary shall be
reviewed at least annually; the first such review will be made no later than one
(1) year from the date of this Agreement. Such review shall be conducted by a
Committee designated by the Board, and the Board may increase (but not decrease)
Executive's Base Salary. In addition to the Base Salary provided in this Section
3 (a), the Bank shall provide to Executive at no additional cost to Executive
all such other benefits as are provided to regular full-time employees of the
Bank.

         (b)      Executive will be entitled to participate in or receive
benefits under any employee benefit plans including, but not limited to, stock
options, retirement plans, supplemental retirement plans, pension plans,
profit-sharing plans, health-and-accident plans, medical coverage or any other
employee benefit plan or arrangement made available by the Bank in the future to
its senior executives and key management employees, subject to, and on a basis
consistent with, the terms, conditions and overall administration of such plans
and arrangements. Executive will be entitled to incentive compensation and
bonuses as provided in any plan, or pursuant to any arrangement of the Bank, in
which Executive is eligible to participate. Nothing paid to the Executive under
any such plan or arrangement will be deemed to be in lieu of other compensation
to which the Executive is entitled under this Agreement, except as provided
under Section 5(e).

         (c)      Executive will be reimbursed for reasonable travel and
entertainment expenses.

         (d)      Executive will have access to the Bank's corporate membership
in the Graymere Country Club in Columbia, Tennessee. The Bank will pay the
monthly country club dues, the capital improvement fund fee and applicable taxes
as well as the country club's per month standard meal allowance charge and
business-related entertainment at the country club. Executive will reimburse the
Bank for any personal expenditures at the country club not related to the
business of the Bank. Executive will maintain accurate records segregating
business and personal expenditures at the country club.

         4.       PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION.

         (a)      Upon the occurrence of an Event of Termination (as herein
defined) during the Executive's term of employment under this Agreement, the
provisions of this Section shall apply. As used in this Agreement, an Event of
Termination shall mean and include any one or more of the following: (i) the
termination of Executive's full-time employment hereunder due to expiration of
this Agreement pursuant to Paragraph 2(a); (ii) the termination by the Bank of
Executive's full-time employment hereunder for any reason other than a Change in
Control as defined in Paragraph 5(a) hereof-, disability, as defined in
Paragraph 6(a) hereof-, death; retirement, as defined in Section 7 hereof; for
Cause, as defined in Section 8 hereof; or termination by the Executive except as
set for in (iii) hereof; (iii) Executive's resignation from the Bank's
employment, upon (A), unless consented to by the Executive, a material change in
Executive's function, duties, or responsibilities, which change would cause
Executive's position to become one of lesser responsibility,

<PAGE>

importance, or scope from the position and attributes thereof described in
Sections I and 2, above, (any such material change shall be deemed a continuing
breach of this Agreement); (B) a relocation of Executive's principal place of
employment by more than forty (40) miles from its location at the effective date
of this Agreement, or a material reduction in the benefits and perquisites to
Executive from those being provided as of the effective date of this Agreement;
(C) the liquidation or dissolution of the Bank; or (D) any breach of this
Agreement by the Bank. Upon the occurrence of any event described in clauses
(A), (B), (C) or (D), above, Executive shall have the right to elect to
terminate his employment under this Agreement by resignation upon not less than
sixty (60) days prior written notice to the Bank given within a reasonable
period of time not to exceed, except in case of a continuing breach, four (4)
calendar months after the event giving rise to said right to elect.

         (b)      Upon the occurrence of an Event of Termination, the Bank shall
pay Executive, or, in the event of his subsequent death, his beneficiary or
beneficiaries, or his estate, as the case may be, as severance pay or liquidated
damages, or both, a lump sum payment equal to twenty-four (24) months Base
Salary.

         (c)      Upon the occurrence of an Event of Termination, the Bank will
cause life, medical, dental and disability coverage substantially identical to
the coverage maintained by the Bank for Executive prior to his termination to be
continued for a period of twenty-four (24) months at the Bank's expense. A COBRA
notice will issue upon the date of termination. Any COBRA-mandated coverage
extensions beyond the first twenty-four (24) months will be at the option of the
Executive and paid for by him as provided by law unless he has secured other
coverage from another source extinguishing his coverage rights.

         5.       CHANGE IN CONTROL.

         (a)      No benefit shall be paid under this Section 5 unless there
shall have occurred a Change in Control of the Bank. For purposes of this
Agreement, a Change in Control of the Bank shall be deemed to occur if and when:

                  (i)      there occurs an acquisition in one or more
         transactions of at least fifteen percent (15%) but less than
         twenty-five percent (25%) of the Common Stock by any Person, or by two
         or more Persons acting as a group (excluding officers and directors of
         the Bank), and the adoption by the Board of Directors or a resolution
         declaring that a change in control of the Bank has occurred; or

                  (ii)     any person or entity, including a "group" as defined
         in Section 13 (d) (3) of the Securities Exchange Act of 1934, other
         than the Bank or a wholly-owned subsidiary thereof or any employee
         benefit plan of the Bank or any of its subsidiaries, becomes the
         beneficial owner of the Bank's securities having 25 % or more of the
         combined voting power of the then outstanding securities if the Bank
         that may be cast for the election of directors of the Bank (other than
         as a result of an issuance of securities initiated by the Bank in the
         ordinary course of business); or

                  (iii)    as the result of, or in connection with, any cash
         tender or exchange offer, merger or other business combination, sale of
         substantially all of the assets or contested election, or any
         combination of the foregoing transactions less than a majority of the
         combined voting power of the then-outstanding securities of the Bank or
         any successor corporation or entity entitled to vote generally in the
         election of the directors of the Bank or such other corporation or
         entity after such

<PAGE>

         transaction are held in the aggregate by the holders of the Bank's
         securities entitled to vote generally in the election of directors of
         the Bank immediately prior to such transaction; or

                  (iv)     during any period of two consecutive years,
         individuals who at the beginning of any such period constitute the
         Board of Directors of the Bank cease for any reason to constitute at
         least a majority thereof, unless the election, or the nomination for
         election by the Bank's shareholders, of each director of the Bank first
         elected during such period was approved by a vote of at least
         two-thirds of the directors of the Bank then still in office who were
         directors of the Bank at the beginning of any such period.

         (b)      If any of the events described in Paragraph 5(a) hereof
constituting a Change in Control have occurred or if the Board of the Bank
otherwise has determined that a Change in Control has occurred, Executive shall
be entitled to the benefits provided in Paragraphs (c), (d) and (e) of this
Section 5 upon his subsequent voluntary termination of employment at any time
during the term of this Agreement, unless such termination is because of his
death, retirement as provided in Section 7, or termination for Disability.

         (c)      Upon the occurrence of a Change in Control followed by the
Executive's termination of employment, the Bank shall pay Executive, or in the
event of his subsequent death, his beneficiary or beneficiaries, or his estate,
as the case may be, as severance pay or liquidated damages, or both, a sum equal
to two (2) times the Executive's base amount, currently in effect, within the
meaning of '280G(b)(3) of the Internal Revenue Code of 1986 (Code), as amended.
Such payment shall be made in a lump sum paid within ten (10) days of the
Executive's Date of Termination.

         (d)      Upon the occurrence of a Change in Control followed by the
Executive's termination of employment, the Bank will cause to be continued life,
medical, dental and disability coverage substantially identical to the coverage
maintained by the Bank for Executive prior to his severance. In addition,
Executive shall be entitled to receive the value of employer contributions that
would have been made on the Executive's behalf over the remaining term of the
agreement to any tax-qualified retirement plan sponsored by the Bank as of the
Date of Termination. Such coverage and payments shall cease upon the expiration
of twenty-four (24) months.

         (e)      Upon the occurrence of a Change in Control the Executive shall
be entitled to receive benefits due him under, or contributed by the Bank on his
behalf, pursuant to any retirement, incentive, profit-sharing, bonus,
performance, disability or other employee benefit plan maintained by the Bank on
the Executive's behalf to the extent that such benefits are not otherwise paid
to the Executive upon a Change in Control.

         (f)      Notwithstanding the preceding paragraphs of this Section 5, in
the event that the aggregate payments or benefits to be made or afforded to the
Executive under this Section would be deemed to include an "excess parachute
payment" under '280G of the Code, such payments or benefits shall be payable or
provided to Executive in equal monthly installments over the minimum period
necessary to reduce the present value of such payments or benefits to an amount
which is One Dollar ($1.00) less than two (2) times the Executive's base amount
currently in effect, under '280G(b)(3) of the Code.

         6.       TERMINATION FOR DISABILITY.

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         (a)      If the Executive shall become permanently and totally disabled
as defined in the Bank's then current disability plan (or, if no such plan is
then in effect, if the Executive is permanently and totally disabled within the
meaning of Section 22(e)(3) of the Code as determined by a physician reasonably
satisfactory to both the Board and Executive), the Bank may terminate
Executive's employment for Disability.

         (b)      Upon the Executive's termination of employment for Disability,
the Bank will pay Executive, as disability pay, a bi-weekly payment equal to
Executive's bi-weekly rate of Base Salary on the effective date of such
termination. These disability payments shall commence on the effective date of
Executive's termination and continue through the earlier of (i) the expiration
of this Agreement pursuant to Paragraph 2(a); (ii) Executive's full-time
employment by another employer; (iii) Executive retiring under the Bank's
retirement plan; or (iv) Executive's death. The disability pay shall be reduced
by the any amount paid to the Executive under any plan of the Bank providing
disability benefits to the Executive.

         (c)      The Bank will cause to be continued life, medical, dental and
disability coverage substantially identical to the coverage maintained by the
Bank for Executive prior to his termination for Disability. This coverage and
payments shall cease upon the earlier of (i) the expiration of this Agreement
pursuant to Paragraph 2(a).; (ii) Executive's full-time employment by another
employer; (iii) Executive retiring under the Bank's retirement plan; or (iv)
Executive's death.

         (d) Notwithstanding the foregoing, there will be no reduction in the
compensation otherwise payable to Executive during any period during which
Executive is incapable of performing his duties hereunder by reason of temporary
disability.

         7.       TERMINATION UPON RETIREMENT; DEATH OF EXECUTIVE.

         Termination by the Bank of Executive based on Retirement shall mean
normal retirement in accordance with any retirement arrangement established with
Executive's consent with respect to him. Upon termination of Executive upon
Retirement, Executive shall be entitled to all benefits under any retirement
plan of the Bank and other plans to which Executive is a party. Upon the death
of the Executive during the term of this Agreement, the Bank shall pay to
Executive's estate the compensation due to the Executive through the last day of
the calendar month in which his death occurred.

         8.       TERMINATION BY THE EXECUTIVE.

         The Executive may terminate his employment hereunder (i) at any time if
his health should become impaired to an extent that makes continued performance
of his duties hereunder hazardous to his physical or mental health, or (ii) upon
sixty (60) days notice for any other reason.

         9.       TERMINATION FOR CAUSE.

         For purposes of this Agreement, Termination for Cause shall include
termination because of the Executive's personal dishonesty, willful misconduct,
breach of fiduciary duty involving personal profit, intentional failure to
perform stated duties, willful violation of any law, rule, or regulation which
negatively impacts the Bank (other than traffic violations or similar offenses)
or final cease-and-desist order, written instructions from a regulatory
authority of the Bank requiring the termination of Executive, or material breach
of any provision of this Agreement. For purposes of this Section, the term
willful is defined to include any act or omission which demonstrates an
intentional or reckless disregard for the duties and responsibilities owed to
the business of the Bank by the Executive.

<PAGE>

         Notwithstanding the foregoing, Executive shall not be deemed to have
been terminated for Cause unless and until there shall have been delivered to
him a copy of a resolution duly adopted by the affirmative vote of not less than
two-thirds (b) of the members of the Board at a meeting of the Board called and
held for that purpose, finding that in the good faith opinion of the Board,
Executive was guilty of conduct justifying termination for Cause and specifying
the reasons thereof. The Executive shall not have the right to receive
compensation or other benefits for any period after termination for Cause. Any
unvested stock options granted to Executive under any stock option plan or any
unvested awards granted under any stock benefit plan of the Bank, or any
subsidiary or affiliate thereof, shall become null and void effective upon
Executive's Termination for Cause pursuant to Section 9 hereof, and shall not be
exercisable by Executive at any time subsequent to such Termination for Cause.

         10.      NOTICE.

         (a)      Any purported termination by the Bank or by Executive shall be
communicated by Notice of Termination to the other party hereto. For purposes of
this Agreement, a Notice of Termination shall mean a written notice which shall
indicate the specific termination provision in this Agreement relied upon and
shall set forth in reasonable detail the facts and circumstances claimed to
provide a basis for termination of Executive's employment under the provision so
indicated.

         (b)      Date of Termination shall mean (A) if Executive's employment
is terminated for Disability, thirty (30) days after a Notice of Termination is
given (provided that he shall not have returned to the performance of his duties
on a full-time basis during such thirty (30) day period); and (B) if his
employment is terminated for any other reason, the date specified in the Notice
of Termination (which, in the case of a Termination for Cause, shall not be less
than thirty (30) days from the date such Notice of Termination is given).

         (c)      If, within thirty (30) days after any Notice of Termination is
given, the party receiving such Notice of Termination notifies the other party
that a dispute exists concerning the termination, except upon the occurrence of
a Change in Control and voluntary termination by Executive in which case the
Date of Termination shall be the date specified in the Notice, the Date of
Termination shall be the date on which the dispute is finally determined, either
by mutual written agreement of the parties by a binding arbitration award, or by
a final judgment, order or decree of a court of competent jurisdiction (the time
for appeal there from having expired and no appeal having been perfected) and
provided further that the Date of Termination shall be extended by a notice of
dispute only if such notice is given in good faith and the party giving such
notice pursues the resolution of such dispute with reasonable diligence.
Notwithstanding the pendency of any such dispute, the Bank will continue to pay
Executive his full compensation in effect when the notice giving rise to the
dispute was given (including, but not limited to, Base Salary) and continue him
as a participant in all compensation, benefit and insurance plans in which he
was participating when the notice of dispute was given, until the dispute is
finally resolved in accordance with this Agreement. Amounts paid under this
Section are in addition to all other amounts due under this Agreement and shall
not be offset against or reduce any other amounts due under this Agreement.

         11.      NON-COMPETITION.

         (a)      Upon any termination of Executive's employment hereunder for
any reason except when a Change of Control has occurred, including, but not
limited to, expiration of this Agreement, Executive

<PAGE>

agrees not to compete with Bank for a period of twenty-four (24) months
following such termination within Maury County, Tennessee and all counties
contiguous thereto. Additionally, during the twenty-four (24) months, Executive
shall not call upon, solicit, service or interfere with or divert in any way any
customers served by the Bank at the Date of Termination. The Bank agrees that
Executive may work for an entity that competes with the depository, lending or
other business activities of the Bank as long as the Executive works in an
office that is not in Maury County, Tennessee or a county contiguous thereto and
does not advise, consult or have any direct involvement with the entity's
activities within Maury County, Tennessee or a county contiguous thereto or with
the commercial loan customers served by the Bank at the Date of Termination.

                  The parties hereto, recognizing that irreparable injury will
result to the Bank, its business and property in the event of Executive's breach
of this Subsection I 0(a) agree that in the event of any such breach by
Executive, the Bank will be entitled, in addition to any other remedies and
damages available, to an injunction to restrain the violation hereof by
Executive, Executive's partners, agents, servants, employers, employees and all
persons acting for or with Executive. Executive represents and admits that in
the event of the termination of his employment with Bank, Executive's experience
and capabilities are such that Executive can obtain employment in a business,
engaged in other lines and/or of a different nature than the Bank, and that the
enforcement of a remedy by way of injunction will not prevent Executive from
earning a livelihood. Nothing herein will be construed as prohibiting the Bank
from pursuing any other remedies available to the Bank for such breach or
threatened breach, including the recovery of damages from Executive.

         (b)      Executive recognizes and acknowledges that the knowledge of
the business activities and plans for business activities of the Bank and
affiliates thereof, as it may exist from time to time, is a valuable, special
and unique asset of the business of the Bank. Executive will not, during or
after the term of his employment, disclose any knowledge of the past, present,
planned or considered business activities of the Bank or affiliates thereof to
any person, firm, corporation or other entity for any reason or purpose
whatsoever. Notwithstanding the foregoing, Executive may disclose any knowledge
of banking, financial and/or economic principles, concepts or ideas which are
not solely and exclusively derived from the business plans and activities of the
Bank. In the event of a breach or threatened breach by the Executive of the
provisions of this Section, the Bank will be entitled to an injunction
restraining Executive from disclosing, in whole or in part, the knowledge of the
past, present, planned or considered business activities of the Bank or
affiliates thereof, or from rendering any services to any person, firm,
corporation, or other entity to whom such knowledge, in whole or in part, has
been disclosed or is threatened to be disclosed. Nothing herein will be
construed as prohibiting the Bank from pursuing any other remedies available to
the Bank for such breach or threatened breach, including the recovery of damages
from Executive.

         12.      SOURCE OF PAYMENTS.

         All payments provided in this Agreement shall be timely paid in cash or
check from the general funds of the Bank.

<PAGE>

         13.      EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS.

         This Agreement contains the entire understanding between the parties
hereto and supersedes any prior employment agreement between the Bank or any
predecessor of the Bank and Executive, except that this Agreement shall not
affect or operate to reduce any benefit or compensation inuring to the Executive
of a kind elsewhere provided. No provision of this Agreement shall be
interpreted to mean that Executive is subject to receiving fewer benefits than
those available to him without reference to this Agreement.

         14.      NO ATTACHMENT; SUCCESSORS AND ASSIGNS.

         (a)      Except as required by law, no right to receive payments under
this Agreement shall be subject to anticipation, commutation, alienation, sale,
assignment, encumbrance, charge, pledge, or hypothecation, or to execution,
attachment, levy, or similar process or assignment by operation of law, and any
attempt, voluntary or involuntary, to affect any such action shall be null,
void, and of no effect.

         (b)      This Agreement shall be binding upon, and inure to the benefit
of, Executive and the Bank and their respective successors and assigns.

         15.      MODIFICATION AND WAIVER.

         (a)      This Agreement may not be modified or amended except by an
instrument in writing signed by the parties hereto.

         (b)      No term or condition of this Agreement shall be deemed to have
been waived, nor shall there by any estoppel against the enforcement of any
provision of this Agreement, except by written instrument of the party charged
with such waiver or estoppel. No such written waiver shall be deemed a
continuing waiver unless specifically stated therein, and each such waiver shall
operate only as to the specific term or condition waived and shall not
constitute a waiver of such term or condition for the future as to any act other
than that specifically waived.

         16.      SEVERABILITY.

         If, for any reason, any provision of this Agreement, or any part of any
provision, is held invalid, such invalidity shall not affect any other provision
of this Agreement or any part of such provision not held so invalid, and each
such other provision and part thereof shall to the full extent consistent with
law continue in full force and effect.

         17.      HEADINGS FOR REFERENCE ONLY.

         The headings of sections and paragraphs herein are included solely for
convenience of reference and shall not control the meaning or interpretation of
any of the provisions of this Agreement.

         18.      GOVERNING LAW.

         This Agreement shall be governed by the substantive laws and procedural
provisions of the State of Tennessee, unless otherwise specified herein;
provided, however, that in the event of a conflict

<PAGE>

between the terms of this Agreement and any applicable federal or state law or
regulation, the provisions of such law or regulation shall prevail.

         19.      PAYMENT OF LEGAL FEES.

         All reasonable legal fees paid or incurred by the Bank or the Executive
pursuant to any dispute or question of interpretation relating to this Agreement
shall be paid or reimbursed by the prevailing party in such judgment,
arbitration or settlement.

         20.      INDEMNIFICATION.

         The Bank shall provide Executive with coverage under a standard
directors' and officers' liability insurance policy at its expense, or in lieu
thereof, shall indemnify Executive to the fullest extent permitted under
applicable Tennessee and federal law and the Articles of the Association against
all expenses and liabilities reasonably incurred by him in connection with or
arising out of any action, suit or proceeding in which he may be involved by
reason of his having been a director or officer of the Bank (whether or not he
continues to be a director or officer at the time of incurring such expenses or
liabilities), such expenses and liabilities to include, but not be limited to,
judgment, court costs and attorneys' fees and the cost of reasonable
settlements.

         21.      SUCCESSOR TO THE BANK.

         The Bank shall require any successor or assignee, whether direct or
indirect, by purchase, merger, consolidation or otherwise, to all or
substantially all the business or assets of the Bank, expressly and
unconditionally to assume and agree to perform the Bank's obligations under this
Agreement, in the same manner and to the same extent that the Bank would be
required to perform if no such succession or assignment had taken place.

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed and their seal to be affixed hereunto by a duly authorized officer or
director, and Executive has signed this Agreement, all as of the 15 day of May,
2002.

                               COMMUNITY FIRST BANK & TRUST

                               BY:              /s/ Eslick Daniel
                                   ---------------------------------------------
                                                Eslick Daniel, MD, Chairman

                               BY:              /s/ Mark W. Hines
                                   ---------------------------------------------
                                                Mark W. Hines

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