Document:

EX-10.7

 Exhibit 10.7 

AMENDED & RESTATED 

EMPLOYMENT AGREEMENT 

THIS AMENDED & RESTATED EMPLOYMENT AGREEMENT is made as of the 20th day
of August, 2014 (the “Effective Date”) by and between AVENUE FINANCIAL HOLDINGS. INC., a Tennessee corporation (the “Employer”), and BARBARA J. ZIPPERIAN, a resident of the State of Tennessee (the “Executive”).

 RECITALS: 

WHEREAS, the Employer and the Executive previously entered into an Employment Agreement; and 

WHEREAS, the Employer and the Executive now wish to amend and restate the Employment Agreement in its entirety with the terms set forth
herein; and 
 WHEREAS, the Employer desires to continue the employment of the Executive as its Executive Vice President and Chief
Financial Officer pursuant to the terms of this Agreement (the “Employment Agreement”) and the Employee desires to continue to be so employed; 

NOW, THEREFORE, in consideration of the above premises and the mutual agreements hereinafter set forth, the parties hereby agree as
follows: 
 1. Definitions. Whenever used in this Agreement, the following terms and their variant forms shall have the meaning set forth
below: 
 1.1 “Affiliate” shall mean any business entity which controls the Employer, is controlled by or is under
common control with the Employer. 
 1.2 “Agreement” shall mean this agreement and any exhibits incorporated herein
together with any amendments hereto made in the manner described in this agreement. 
 1.3 “Business of the
Employer” shall mean any business conducted by the Employer or any subsidiary of the Employer, including the business of commercial banking and the delivery of services and products related thereto. 

1.4 “Cause” shall mean: 

1.4.1 With respect to termination by the Employer: 

(a) conduct by the Executive that amounts to fraud, material dishonesty, gross negligence or willful misconduct in the
performance of Executive’s duties hereunder; 

 (b) the conviction (from which no appeal may be, or is, timely taken) of the
Executive of a felony; 
 (c) the initiation and the continuation without dismissal for six (6) months of suspension or
removal proceedings against the Executive by federal or state regulatory authorities acting under lawful authority pursuant to provisions of federal or state law or regulation which may be in effect from time to time; provided that such termination
is approved by a two-thirds (2/3rds) vote of the Board of Directors (with Executive not voting, if the Executive is a member of the Board of Directors); 

(d) violation of federal or state banking laws or regulations which is reasonably likely to have a material adverse effect on
the Executive or the Employer; 
 (e) willful violation of any code of conduct or standards of ethics applicable to employees
of the Employer that results in material and demonstrable damage to the business or reputation of the Employer; or 
 (f)
refusal to perform a duly authorized and lawful directive of the Employer’s Board of Directors; 
 provided, however, that with respect to the
condition described in item (e) of the foregoing, no determination of Cause shall be made by the Board of Directors on such basis unless the Board of Directors has provided written notice to the Executive of the existence of such condition and
the Executive has been granted a reasonable opportunity to appear before the Board of Directors in order to respond to such determination and the Executive fails to cure such condition within thirty (30) calendar days following receipt of
notice. 
 1.4.2 With respect to termination by the Executive: 

(a) a material change or diminution in the compensation, benefits, authority, powers, responsibilities, title or duties of the
Executive hereunder; 
 (b) a material breach of the terms of this Agreement by the Employer, which remains uncured after the
expiration of thirty (30) days following the delivery of written notice of such breach to the Employer by the Executive; or 

(c) the relocation of the Executive’s principal place of work to a location more than twenty five (25) miles from the
county limits of Davidson County, Tennessee. 

  
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 1.5 “Change of Control” means any one of the following events which
occurs on or after the Effective Date: 
 (a) the acquisition by any “person” or “group” (as defined in,
or pursuant to, Section 13(d) and Section 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), directly or indirectly, of “beneficial ownership” (as defined in Rule 13d- 2 under the Exchange
Act) of voting securities of the Employer, if, after the transaction, the acquiring “person” or “group” beneficially owns twenty-five percent (25%) or more of any class of voting securities of the Employer; 

(b) within any twelve (12)-month period (beginning on or after the Effective Date) the persons who were directors of the
Employer immediately before the beginning of such twelve (12)-month period (the “Incumbent Directors”) shall cease to constitute at least a majority of such Board of Directors; provided that any director who was not a director as of the
beginning of such twelve (12)-month period shall be deemed to be an Incumbent Director if that director were elected to such Board of Directors by, or on the recommendation of or with the approval of, at least a majority of the directors who then
qualified as Incumbent Directors; and provided further that no director whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of directors shall be deemed to be an Incumbent
Director; 
 (c) a reorganization, merger, share exchange combination, or consolidation, with respect to which persons who
were the stockholders of the Employer immediately prior to such reorganization, merger, share exchange combination, or consolidation do not, immediately thereafter, own more than fifty percent (50%) of the combined voting power entitled to vote
in the election of directors of the reorganized, merged, combined or consolidated company’s then outstanding voting securities; or 

(d) the sale, transfer or assignment of all or substantially all of the assets of the Employer or its subsidiaries to any third
party. 
 1.6 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 

1.7 “Confidential Information” means data and information relating to the Business of the Employer (which does not
rise to the status of a Trade Secret) which is or has been disclosed to the Executive or of which the Executive became aware as a consequence of or through the Executive’s relationship to the Employer and which has value to the Employer and is
not generally known to its competitors. Confidential Information shall not include any data or information that has been voluntarily disclosed to the public by the Employer (except where such public disclosure has been made by the Executive without
authorization) or that has been independently developed and disclosed by others, or that otherwise enters the public domain through lawful means. 

  
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 1.8 “Disability” shall mean the inability of the Executive to perform
each of Executive’s material duties under this Agreement for the duration of the short-term disability period under the Employer’s policy then in effect as certified by a physician chosen by the Employer and reasonably acceptable to the
Executive. 
 1.9 “Employer Information” means Confidential Information and Trade Secrets. 

1.10 “Release” means the release agreement in the form attached hereto as Appendix A, as amended from time to
time by the Employer to reflect updates or amendments to the statutes, laws, rules and regulations set forth therein or the adoption of other similar such stature, laws, rules or regulations customarily included in such release agreements. 

1.11 “Trade Secrets” means Employer information including, but not limited to, technical or nontechnical data,
formulas, patterns, compilations, programs, devices, methods, techniques, drawings, processes, financial data, financial plans, product plans or lists of actual or potential customers or suppliers which: 

(a) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by
proper means by, other persons who can obtain economic value from its disclosure or use; and 
 (b) is the subject of efforts
that are reasonable under the circumstances to maintain its secrecy. 
 2. Duties. 

2.1 Position. The Executive is employed as the Executive Vice President and Chief Financial Officer of the Employer and, subject
to the direction of the Board of Directors of the Employer or its designee(s), shall perform and discharge well and faithfully the duties commensurate with the position of Executive Vice President and Chief Financial Officer or as may be assigned to
him from time to time by the Board of Directors of the Employer in connection with the conduct of its business. The Executive shall also serve as Executive Vice President and Chief Financial Officer of Avenue Bank, a wholly-owned subsidiary of
Employer (“Bank”). 
 2.2 Full-Time Status. In addition to the duties and responsibilities specifically
assigned to the Executive pursuant to Section 2.1 hereof, the Executive shall: 
 (a) devote substantially all of
Executive’s time, energy and skill during regular business hours to the performance of the duties of his employment (reasonable vacations and reasonable absences due to illness excepted) and faithfully perform such duties; 

  
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 (b) diligently follow and implement all reasonable and lawful management policies
and decisions communicated to Executive by the Board of Directors of the Employer; and 
 (c) timely prepare and forward to
the Board of Directors of the Employer all reports and accountings as may reasonably be requested of the Executive. 
 2.3 Permitted
Activities. The Executive shall devote his entire business time, attention and energies to the Business of the Employer and shall not during the Term be engaged (whether or not during normal business hours) in any other business or
professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the Executive from: 

(a) investing his personal assets in businesses which (subject to clause (b) below) are not in competition with the
Business of the Employer and which will not require any services on the part of the Executive in their operation or affairs and in which his participation is solely that of an investor; 

(b) purchasing securities in any corporation, the securities of which are regularly traded provided that such purchase shall
not result in him collectively owning beneficially at any time five percent (5%) or more of the equity securities of any business in competition with the Business of the Employer; and 

(c) participating in charitable, civic and professional affairs and organizations and conferences, preparing or publishing
papers or books or teaching, and with the prior approval of the Board of Directors of the Employer, serve on boards of directors and/or advisory boards of for-profit entities. 

2.4 Indemnification. For service as an officer and employee of the Employer, Executive shall be entitled to the full protection
of the applicable indemnification provisions of the Charter and bylaws of the Employer, as they may be amended from time to time. For service as an officer and employee of the Bank, Executive shall be entitled to the full protection of the
applicable indemnification provisions of the Charter and bylaws of the Bank, as they may be amended from time to time. The Employer agrees that Executive shall be covered as an insured person under the Employer’s Directors’ and
Officers’ Errors and Omission Insurance during his or her employment hereunder. 
 3. Term and Termination. 

3.1 Term. The Employer agrees to employ the Executive as an “at will” employee, and the Executive agrees to continue
employment hereunder, until termination of this Agreement by either party, with or without cause, pursuant to Section 3.2 (the “Term”). 

  
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 3.2 Termination. During the Term, the employment of the Executive under this
Agreement may be terminated only as follows: 
 3.2.1 By the Employer: 

(a) For Cause, subject to approval by a two-thirds (2/3rds) vote of the Employer’s Board of Directors (excluding the
vote, if any, of the Executive) and upon written notice to the Executive pursuant to Section 1.4.1 hereof, in which event the Employer shall have no further obligation to the Executive except for payment of any Base Salary due and owing under
Section 4.1 on the effective date of termination and reimbursement under Section 4.6 of expenses incurred as of the effective date of termination; 

(b) Without Cause at any time, provided that the Employer shall give the Executive thirty (30) days’ prior written
notice of its intent to terminate (during which period the Employer may exclude Executive from performing any services or having any responsibilities), in which event the Employer shall be required to continue to meet its obligations to the
Executive for payment of Base Salary under Section 4.1 and, to the extent permitted by applicable law and the Employer’s insurance program, benefits listed under Section 4.8(b), for a period of twenty three (23) months (or thirty
five (35) months if the Employer elects a three (3) year noncompete period pursuant to Section 6 hereof) plus any annual bonus under Section 4.2 to the extent such bonus has been declared by the Employer and earned at the time of
termination; provided, however, that Executive’s right to receive the payments set forth herein shall be contingent upon Executive’s executing and complying with the terms of the Release and the other terms and provisions set
forth in this Agreement, including Sections 5 and 6; or 
 (c) Upon the Disability of the Executive at any time, provided
that the Employer shall give the Executive thirty (30) days’ prior written notice of its intent to terminate, in which event, the Employer shall be required to continue to meet its obligation to the Executive for payment of Base Salary
under Section 4.1 at the rate in effect on the effective date of termination for six (6) months following the effective date of termination or until the Executive begins receiving payments under the Employer’s long-term disability
policy, whichever occurs first; or 
 (d) In the event that the primary regulator for the Employer raises an objection to the
Executive’s service as Executive Vice President and Chief Financial Officer of the Employer pursuant to which the regulator requires the Executive’s removal from his position as Executive Vice President and Chief Financial Officer, in
which event the Employer shall have no further obligation to the Executive except for payment of 

  
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any Base Salary due and owing under Section 4.1 on the effective date of termination and reimbursement under Section 4.6 of expenses incurred as of the effective date of termination.

 3.2.2 By the Executive: 

(a) For Cause, upon written notice to the Employer pursuant to Section 1.4.2 hereof, in which event the Employer shall be
required to continue to meet its obligations to the Executive for payment of Base Salary under Section 4.1 for a period of twenty three (23) months and, to the extent permitted by applicable law and the Employer’s insurance program,
benefits listed in section 4.8(b) for a period of twenty four (24) months (or thirty six (36) months if the Employer elects a three (3) year noncompete period pursuant to Section 6 hereof) plus any annual bonus under
Section 4.2 to the extent such bonus has been declared by the Employee and earned at the time of termination; provided, however, that Executive’s right to receive the payments set forth herein shall be contingent upon
Executive’s executing and complying with the terms of the Release and the other terms and provisions set forth in this Agreement, including Sections 5 and 6; or 

(b) Without Cause, provided that the Executive shall give the Employer sixty (60) days’ prior written notice of
Executive’s intent to terminate, in which event the Employer shall have no further obligation to the Executive except for payment of Base Salary due and owing under Section 4.1 on the effective date of termination and reimbursement under
Section 4.6 of expenses incurred as of the effective date of termination. 
 3.2.3 At any time upon mutual, written
agreement of the parties, in which event the Employer shall have no further obligation to the Executive except for payment of any Base Salary due and owing under Section 4.1 on the effective date of termination and reimbursement under
Section 4.6 of expenses incurred as of the effective date of termination. 
 3.2.4 Notwithstanding anything in this
Agreement to the contrary, the Term shall end automatically upon the Executive’s death, in which event the Employer shall have no further obligation to the Executive’s estate except for payment of any Base Salary due and owing under
Section 4.1 on the effective date of termination and reimbursement under Section 4.6 of expenses incurred as of the effective date of termination. 

3.3 Change of Control. If, within eighteen (18) months following a Change of Control, the Executive terminates his
employment with the Employer for Cause or the Employer terminates the Executive’s employment without Cause, the Executive, or in the event of his subsequent death, his designated beneficiaries or his estate, as the case may be, shall receive,
as liquidated damages, in lieu of all other claims under Sections 3.2.1(b) 

  
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or 3.2.2(a), a lump sum severance payment equal to the sum of the remaining Base Salary that would have been payable to Executive for a period of thirty five (35) months plus, to the extent
permitted by applicable law and the Employer’s insurance program, the total amount of benefits listed under Section 4.8(b) for a period of thirty five (35) months plus any annual bonus under Section 4.2 to the extent such bonus
has been declared by the Employer and earned at the time of termination, such sum to be paid in full on the last day of the month following the date of termination. If the aggregate present value (determined as of the date of the Change of Control
in accordance with the provisions of Section 280G of the Code) of both the severance payment and all other payments to the Executive in the nature of compensation which are contingent on a change in ownership or effective control of the
Employer or in the ownership of a substantial portion of the assets of the employer (the “Aggregate Severance”) would result in a “parachute payment,” as defined under Section 280G(b)(2) of the Code (a “Parachute
Payment”), the Executive shall receive (a) the Aggregate Severance, unless (b) (i) the after-tax amount that would be retained by the Executive (after taking into account all federal, state and local income taxes payable by the
Executive and the amount of any excise taxes payable by the Executive under Section 4999 of the Code that would be payable by the Executive (“Excise Taxes”)) if he were to receive the Aggregate Severance has a lesser aggregate value
than (ii) the after-tax amount that would be retained by the Executive (after taking into account all federal, state and local income taxes payable by the Executive) if he were to receive the Aggregate Severance, reduced to the largest amount
as would result in no portion of the Aggregate Severance being subject to any Excise Taxes (the “Reduced Aggregate Severance”). If clause (b) above in this Section 3.3 applies, the Executive shall receive the Reduced Aggregate
Severance. If the Aggregate Severance is to be reduced pursuant to clause (b), the Executive shall be entitled to determine which of those payments and benefits to reduce and the relative portion of each of them to be reduced. Notwithstanding any
provision of this Agreement, if the Executive may exercise his right to terminate employment under this Section 3.3 or under Section 3.2.2(a), the Executive may choose which provision shall be applicable. Notwithstanding any provision in
this Agreement, if following a Change of Control the Employer terminates the Executive without Cause, the Executive may choose whether Section 3.3 or Section 3.2.1(b) shall be applicable. 

3.4 Effect of Termination. Upon termination of the Executive’s employment hereunder for any reason, the Employer shall have
no further obligation to the Executive or the Executive’s estate with respect to this Agreement, except for the payment of any amounts set forth in Section 3.2. Notwithstanding anything contained in this Agreement to the contrary, no
payments shall be made pursuant to this Section 3.4 or any other provision herein unless the requirements of Section 2[18(k)] of the Federal Deposit Insurance Act (12 U.S.C. 1828(k)) are satisfied, 

3.4 Regulatory Action. 

(a) If the Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs
by an order issued under Section 8(e)(4) or 8(g)(l) of the Federal Deposit Insurance Act (“FDIA”) (12 

  
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U.S.C. 1818(e)(4) and (g)(l)), all obligations of the Employer under this Agreement shall terminate, as of the effective date of such order, except for the payment of Base Salary due and owing
under Section 4.1 on the effective date of said order, and reimbursement under Section 4.6 of expenses incurred as of the effective date of termination. 

(b) If the Executive is suspended and/or temporarily prohibited from participating in the conduct of the Employer’s
affairs by a notice served under Section 8(e)(3) or 8(g)(l) of the FDIA (12 U.S.C. 1818(e)(3) and (g)(l)), all obligations of the Employer under this Agreement shall be suspended as of the date of service, unless stayed by appropriate
proceedings. If the charges in the notice are dismissed, the Employer shall (i) pay the Executive all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its
obligations which were suspended. 
 (c) If the Employer is in default (as defined in Section 3(x)(l) of the FDIA), all
obligations under this Agreement shall terminate as of the date of default, but the vested rights of the parties shall not be affected. 

(d) All obligations under this Agreement shall be terminated, except to the extent a determination is made that continuation of
the contract is necessary for the continued operation of the Employer (i) by the director of the Federal Deposit Insurance Corporation (the “FDIC”) or his or her designee (the “Director”), at the time the FDIC enters into an
agreement to provide assistance to or on behalf of the Employer under the authority contained in 13(c) of the FDIA; or (ii) by the Director, at the time the Director approves a supervisory merger to resolve problems related to operation of the
Employer when the Employer is determined by the Director to be in an unsafe and unsound condition. Any rights of the Executive that have already vested, however, shall not be affected by such action. 

4. Compensation. The Executive shall receive the following salary and benefits during the Term, except as otherwise provided below: 

4.1 Base Salary. Beginning as of the Effective Date, the Executive shall be compensated at a base rate of $200,000.00 per year
(the “Base Salary”). The Executive’s Base Salary shall be reviewed by the Board of Directors of the Employer at least annually, and the Executive shall be entitled to receive annually an increase in such amount, if any, as may be
determined by the Board of Directors of the Employer based on the evaluation of the Executive’s performance by the Board of Directors. Base Salary shall be payable in accordance with the Employer’s normal payroll practices. If the
Executive serves on the Board of Directors of the Employer, the Executive shall be entitled to any normal compensation paid to other members of the Board who are also officers of the Employer, and such amount shall be in addition to Base Salary.

  
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 4.2 Incentive Compensation. 

(a) Annual Bonus. Executive shall be entitled to an annual bonus of up to 100% of Base Salary, all determined in the
discretion of the Board of Directors of the Employer. 
 (b) Retirement Plan Agreement. Executive has been provided
with a fully vested retirement arrangement which provides that upon his retirement, Executive shall receive for the remainder of his life the annual compensation equal to 60% of his average Base Salary for the last five years of his employment with
the Employer. 
 4.3 Equity Compensation. The Executive shall be eligible to participate in any stock option, restricted stock
or other equity incentive program as may be established by the Employer for the benefit of its employees, in the amount as determined from time to time by the Board of Directors: 

4.4 Health Insurance. The Executive shall be entitled to such health insurance benefits as the Employer may make available from
time to time to other employees of the Employer similarly situated to the Executive. All such benefits shall be awarded and administered in accordance with, and subject to, the Employer’s standard policies and procedures, as they may change
from time to time, including, without limitation, eligibility restrictions. 
 4.5 Automobile. Beginning as of the Effective
Date, the Employer shall receive an automobile allowance equal to $500.00 per month. 
 4.6 Business Expenses; Memberships.
The Employer shall pay directly or reimburse the Executive for: 
 (a) reasonable and necessary business (including travel)
expenses incurred by Executive in the performance of Executive’s duties hereunder, consistent with the policy of the Employer; and 

(b) the reasonable dues and business related expenditures associated with membership in a lunch club and in professional
associations which are commensurate with Executive’s position; 
 provided, however, that the Executive shall, as a condition of reimbursement, submit
verification of the nature and amount of such expenses in accordance with reimbursement policies from time to time adopted by the Employer and in sufficient detail to comply with rules and regulations promulgated by the Internal Revenue Service. The
Employer makes no representation to the Executive regarding the taxability or nontaxability of any reimbursements provided pursuant to this Section. 

  
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 4.7 Vacation. The Executive shall be entitled to six (6) weeks of vacation on
a non-cumulative basis in each calendar year during the Term, during which the Executive’s compensation shall be paid in full. 

4.8 Benefits. 
  

	 	(a)	In addition to the benefits specifically described in this Agreement, during the Term, the Executive shall be entitled to such benefits as may be available from time to time to executives of the Employer similarly
situated to the Executive. All such benefits shall be awarded and administered in accordance with the Employer’s standard policies and practices. Such benefits may include, by way of example only, profit-sharing plans, retirement or investment
funds, dental, health, life and disability insurance benefits and such other benefits as the Employer deems appropriate. Subject to the terms of the benefit plans implemented by the Employer, the Executive will receive life insurance in an amount
equal to two (2) times Executive’s Base Salary, subject to a maximum amount of $500,000 and disability insurance benefits equal to 80% of his Base Salary. 

 

	 	(b)	After early termination of the Agreement under the circumstances set forth in Sections 3.2.1(b), 3.2.1(d) or 3.2.2(a), Employer shall reimburse the Executive for the cost of COBRA health insurance coverage or other
coverage obtained after expiration of COBRA benefits (subject to a maximum equal to the cost of continuing coverage under COBRA) for the Executive only for the period of time after termination as set forth in such section; provided, however, that if
the Executive becomes eligible under another group plan during such period, the Employer shall only be responsible for any out-of-pocket expense the Executive incurs with respect to such coverage for himself. 

4.9 Withholding. The Employer may deduct from each payment of compensation hereunder all amounts required to be deducted and
withheld in accordance with applicable federal and state income tax, FICA and other withholding requirements. 
 5. Employer Information.

 5.1 Ownership of Employer Information. All Employer Information received or developed by the Executive while employed
by the Employer will remain the sole and exclusive property of the Employer. 
 5.2 Obligations of the Executive. The
Executive agrees: 
 (a) to hold Employer Information in strictest confidence; 

(b) not to use, duplicate, reproduce, distribute, disclose or otherwise disseminate Employer Information or any physical
embodiments of Employer Information; and 
 (c) in any event, not to take any action causing or fail to take any action
necessary in order to prevent any Employer Information from losing its character or ceasing to qualify as Confidential Information or a Trade Secret. 

  
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 In the event that the Executive is required by law to disclose any Employer Information, the
Executive will not make such disclosure unless (and then only to the extent that) the Executive has been advised by independent legal counsel that such disclosure is required by law and then only after prior written notice is given to the Employer
when the Executive becomes aware that such disclosure has been requested and is required by law. With respect to Confidential Information, this Section 5 shall survive for a period of twenty four (24) months following termination of this
Agreement for any reason, and shall survive termination of this Agreement for any reason for so long as is permitted by applicable law, with respect to Trade Secrets. 

5.3 Delivery upon Request or Termination. Upon request by the Employer, and in any event upon termination of Executive’s
employment with the Employer, the Executive will promptly deliver to the Employer all property belonging to the Employer, including, without limitation, all Employer Information then in Executive’s possession or control. 

6. Non-Competition/ Non-Solicitation. The Executive agrees that during his employment by the Employer hereunder, and, in the event of his
termination of employment hereunder for any reason and by either party, for a period of two (2) years thereafter (or for a period of three (3) years if the Employer notifies the Executive before or within thirty (30) days after
termination that the Employer elects a three (3) year period), 
  

	 	(a)	 the Executive shall not, either separately, jointly, or in association with others, directly or indirectly, as an agent, employee, owner, partner,
stockholder, or otherwise, allow the Executive’s name to be used by, or establish, engage in, or become interested in any business, trade, or occupation competitive with the business being conducted by the Employer or the Bank, in the
Employer’s Market Area, as defined below. The Employer and the Executive acknowledge that during the term of the Executive’s employment with the Employer the Executive has acquired and will acquire special knowledge and skill that can be
used to compete with the Employer or the Bank. Furthermore, although not a term or condition of this Agreement, the Employer and the Executive acknowledge that the Executive’s services are being and will be used by the Employer and the Bank in
executive, managerial, and supervisory capacities throughout the areas in which employer and the Bank conduct business. For purposes of this Agreement, the term “Market Area” shall mean the geographic area within the boundaries of the
Metropolitan Statistical Area of Nashville, Tennessee (as used by the U.S. Census Bureau) and all other counties in which the 

  
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Employer, the Bank or any subsidiary of the Employer or the Bank maintains a branch or office during the term of Executive’s employment with the Employer. 

 

	 	(b)	the Executive shall not (x) directly or indirectly solicit or attempt to solicit any customer of the Employer or the Bank to accept or purchase financial products or services of the same nature, kind or variety
provided to the customer by the Employer or the Bank at any time during Executive’s employment with the Employer, (y) directly or indirectly influence or attempt to influence any customer, joint venture, or other business partner of the
Employer or the Bank to alter that person or entity’s business relationship with the Employer or the Bank in any way, and (z) accept the financial products or services business of any customer or provide financial products or services to
any customer on behalf of anyone other than the Employer or the Bank. In addition, the Executive shall not solicit or attempt to solicit and shall not encourage or induce in any way any employee, joint venturer, or business partner of the Employer
or the Bank to terminate an employment or contractual relationship with the Employer or the Bank, and shall not hire any person employed by Employer or the Bank during the two-year period immediately before the Executive’s employment
termination or any person employed by the Employer or the Bank during the term of this covenant. 

  

	 	(c)	For purposes of this Agreement the term “customer” shall mean any individual, joint venturer, entity of any sort, or other business partner of the Employer or the Bank with, for, or to whom the Employer or the
Bank has provided financial products or services during the final two years of the Executive’s employment with the Employer or the Bank, or any individual, joint venturer, entity of any sort, or business partner whom the Employer or the Bank
has identified as a prospective customer of financial products or services within the final two years of the Executive’s employment with the Employer or the Bank. For purposes of this Agreement the term financial products or services shall mean
any product or service that a financial institution or a financial holding company could offer by engaging in any activity that is financial in nature or incidental to such a financial activity under Section 4(k) of the Bank Holding Company Act
of 1956 and that is offered by the Employer, the Bank, or an affiliate on the date of the Executive’s employment termination, including but not limited to banking activities and activities that are closely related and a proper incident to
banking, or other products or services of the type in which the Executive was involved during the Executive’s employment with the Employer or the Bank. For purposes of this Agreement, the term “affiliate” means the Bank and any entity
that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the Employer. 

  
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 7. Remedies; Reformation. The Executive agrees that the covenants contained in Sections 5 and 6 of
this Agreement are of the essence of this Agreement; that each of the covenants is reasonable and necessary to protect the business, interests and properties of the Employer, and that irreparable loss and damage will be suffered by the Employer
should Executive breach any of the covenants. Therefore, the Executive agrees and consents that, in addition to all the remedies provided by law or in equity, the Employer shall be entitled to a temporary restraining order and temporary and
permanent injunctions to prevent a breach or contemplated breach of any of the covenants. The Employer and the Executive agree that all remedies available to the Employer or the Executive, as applicable, shall be cumulative. The parties have
attempted to limit Executive’s right to compete only to the extent necessary to protect the Employer from unfair competition. If the scope or enforceability of any of the restrictions in Section 6 are in any way disputed at any time, a
court or other trier of fact may modify and reform such provision to substitute such other terms as are reasonable to protect the legitimate business interests of the Employer. 

8. Severability. The parties agree that each of the provisions included in this Agreement is separate, distinct and severable from the other
provisions of this Agreement and that the invalidity or unenforceability of any Agreement provision shall not affect the validity or enforceability of any other provision of this Agreement. Further, if any provision of this Agreement is ruled
invalid or unenforceable by a court of competent jurisdiction because of a conflict between the provision and any applicable law or public policy, the provision shall be redrawn to make the provision consistent with and valid and enforceable under
the law or public policy. 
 9. Notice. All notices and other communications required or permitted under this Agreement shall be in writing
and shall be delivered by hand or, if mailed, shall be sent via the United States Postal Service, certified mail, return receipt requested, or by overnight courier. All notices hereunder may be delivered by hand or overnight courier, in which event
the notice shall be deemed effective when delivered. All notices and other communications under this Agreement shall be given to the parties hereto at the following addresses: 
  

	 	(i)	If to the Employer, at: 

 Avenue Financial Holdings, Inc. 

111 Tenth Avenue, South 

Nashville, TN 37203 
  

	 	(ii)	If to the Executive, at: 

 Barbara J. Zipperian 

908 Gold Hill Court 
 Franklin,
TN 37069 

  
 14 

 Any party hereto may change his, her or its address by advising the others, in writing, of such change of
address. 
 10. Assignment; Binding Effect. Neither party hereto may assign or delegate this Agreement or any of its rights and obligations
hereunder without the written consent of the other party to this Agreement. This Agreement shall be binding upon and inure to the benefit of the Employer and the Executive and their respective heirs, legal representatives, executors, administrators,
successors and permitted assigns. 
 11. No Set-Off by the Executive. The existence of any claim, demand, action or cause of action by the
Executive against the Employer, or any Affiliate of the Employer, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the enforcement by the Employer of any of its rights hereunder. 

12. Compliance with Internal Revenue Code Section 409A. The Employer and the Executive intend that their exercise of authority or
discretion under this Agreement shall comply with section 409A of the Code. If when the Executive’s employment terminates the Executive is a specified employee, as defined in section 409A of the Code, and if any payments under this Agreement,
will result in additional tax or interest to the Executive because of section 409A, then despite any provision of this Agreement to the contrary the Executive will not be entitled to the payments until the earliest of (a) the date that is at
least six months after termination of the Executive’s employment for reasons other than the Executive’s death, (b) the date of the Executive’s death, or (c) any earlier date that does not result in additional tax or interest
to the Executive under section 409A. As promptly as possible after the end of the period during which payments are delayed under this provision, the entire amount of the delayed payments shall be paid to the Executive in a single lump sum. If any
provision of this Agreement does not satisfy the requirements of section 409A, such provision shall nevertheless be applied in a manner consistent with those requirements. If any provision of this Agreement would subject the Executive to additional
tax or interest under section 409A, the Employer shall reform the provision. However, the Employer shall maintain to the maximum extent practicable the original intent of the applicable provision without subjecting the Executive to additional tax or
interest, and the Employer shall not be required to incur any additional compensation expense as a result of the reformed provision. References in this Agreement to section 409A of the Code include rules, regulations, and guidance of general
application issued by the Department of the Treasury under Code section 409A. 
 13. Waiver. A waiver by one party to this Agreement of any
breach of this Agreement by the other party to this Agreement shall not be effective unless in writing, and no waiver shall operate or be construed as a waiver of the same or another breach on a subsequent occasion. 

14. Arbitration. Other than for matters arising under Sections 5 and 6, which shall be governed by Section 7, any controversy or claim
arising out of or relating to this contract, or the breach thereof, which cannot be resolved by the parties, shall be submitted to mediation. If mediation is unsuccessful, in resolving the matter within 90

  
 15 

 
days after it is submitted for mediation, the matter shall be resolved by binding arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association. Judgment
upon the award rendered by the arbitrator may be entered only in the Chancery or Circuit Court of Davidson County, Tennessee, or the federal court for the Middle District of Tennessee. The Employer and the Executive agree to share equally the fees
and expenses associated with the arbitration proceedings. Executive must initial here: /s/ BZ 
 15. Attorneys’ Fees. In the event
that the parties have complied with this Agreement with respect to arbitration of disputes and litigation ensues between the parties concerning the enforcement of an arbitration award, the party prevailing in such litigation shall be entitled to
receive from the other party all reasonable costs and expenses, including without limitation attorneys’ fees, incurred by the prevailing party in connection with such litigation, and the other party shall pay such costs and expenses to the
prevailing party promptly upon demand by the prevailing party. 
 16. Consultation with Counsel and Interpretation of this Agreement. The
Executive acknowledges and agrees that Executive has had the assistance of counsel of Executive’s choosing in the negotiation of this Agreement, or Executive has chosen not to have the assistance of Executive’s own counsel. Both parties
hereto having participated in the negotiation and drafting of this Agreement, and they hereby agree that there shall not be interpretation against either party in connection with any review of this Agreement in which interpretation thereof is an
issue. 
 17. Applicable Law. This Agreement has been executed in Davidson County, Tennessee, and shall be construed and enforced under and in
accordance with the laws and regulations of the State of Tennessee and agencies thereof, and to the extent applicable, federal law and regulations, including, but not limited to, Section 1828(k) of the Federal Deposit Insurance Act and Part 359
of the FDIC Rules and Regulations. 
 18. Interpretation. Words importing any gender include all genders. Words importing the singular form
shall include the plural and vice versa. The terns “herein,” “hereunder,” “hereby,” “hereto,” “hereof” and any similar terms refer to this Agreement. Any captions, titles or headings preceding the
text of any article, section or subsection herein are solely for convenience of reference and shall not constitute part of this Agreement or affect its meaning, construction or effect. 

19. Entire Agreement. This Agreement embodies the entire and final agreement of the parties on the subject matter stated in this Agreement and
replaces any and all prior employment agreements between the parties. No amendment or modification of this Agreement shall be valid or binding upon the Employer or the Executive unless made in writing and signed by both parties. All prior
understandings and agreements relating to the subject matter of this Agreement are hereby superseded and expressly terminated. 
 20. Rights of Third
Parties. Nothing herein expressed is intended to or shall be construed to confer upon or give to any person, firm or other entity, other than the parties hereto and their permitted assigns, any rights or remedies under or by reason of this
Agreement. 

  
 16 

 21. Survival. The obligations of the Executive pursuant to Sections 5 and 6 shall survive the
termination of the employment of the Executive hereunder for the period designated under each of those respective Sections. The obligations of the Employer pursuant to Sections 3 and 4 shall survive the termination of this Agreement until such time
as those obligations are paid. 
 22. Counterparts. This Agreement may be execute in two or more counterparts, all of which together shall
constitute one and the same Agreement. 
 [The remainder of this page intentionally left blank.] 

  
 17 

 IN WITNESS WHEREOF, the Employer and the Executive have executed and delivered this Agreement as
of the date first shown above. 
  

			
	THE EMPLOYER:
	
	AVENUE FINANCIAL HOLDINGS, INC.
		
	By:	 	/s/ G. Kent Cleaver
		
	Title:	 	President
	
	EXECUTIVE:
	
	/s/ Barbara J. Zipperian
	Barbara J. Zipperian

  
 18 

 Form of Release Agreement 

General Release 
 I,
                    , in consideration of the performance by Avenue Financial Holdings, Inc, a Tennessee corporation (the
“Company”), of its obligations under the Amended & Restated Employment Agreement, dated                     , between the
Company and myself (as amended from time to time, the “Agreement”), do hereby release and forever discharge as of the date hereof the Company, its subsidiaries, and their Affiliates and all present and former members, managers,
directors, officers, agents, representatives, employees, successors and assigns of the Company and its Affiliates (collectively, the “Released Parties”) to the extent provided below. Capitalized terms used but not defined herein
shall have the meanings given to them in the Agreement. 
  

	1.	I understand and agree that I will not receive any severance payments (a) unless I execute this General Release and do not revoke this General Release within the time period permitted hereafter, (b) if I
breach this General Release or (c) if I breach any provision of the Agreement, including Sections 5 and 6. Such payments will not be considered compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or
hereafter established by the Company or any of its Affiliates. I also acknowledge and represent that I have received all payments and benefits that I am entitled to receive (as of the date hereof) by virtue of any employment by the Company.

  

	2.	 Except for the provisions of the Agreement which expressly survive the termination of my employment with the Company, I knowingly and voluntarily (for
myself and any Person acting through, in the right of, jointly or in concert with myself or whose rights derive from any relationship with myself, including, but not limited to, my spouse, my heirs, executors, attorneys, representatives, agents,
administrators and assigns (the “Releasing Parties”)) fully and unconditionally release and forever discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’
fees, or liabilities of any nature whatsoever in law and in equity, both past and present (through the date this General Release becomes effective and enforceable) and whether known or unknown, suspected, or claimed against the Company or any of the
other Released Parties which I or any Releasing Party, may have, which arise out of or are connected with my employment with, or my separation or termination from, the Company and its Affiliates (including, but not limited to, any allegation, claim
or violation, arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act); the Equal Pay Act of
1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the 

  
 19 

	 	
Employee Retirement Income Security Act of 1974; the Fair Labor Standards Act; the Tennessee Wage Regulation Act, the Tennessee Human Rights Act, or the Tennessee Handicap Act) [LIST TO BE
UPDATED UPON TERMINATION TO REFLECT ALL LAWS THEN APPLICABLE REGARDING EMPLOYMENT AND TERMINATION OF EMPLOYMENT] or their state or local counterparts; or under any other federal, state or local civil or human rights law, or under any other
local, state, or federal law, regulation or ordinance; or under any public policy, contract or tort, or under common law; or arising under any employment policies, practices or procedures of the Company or any of its Affiliates; or any claim for
wrongful discharge, breach of contract, infliction of emotional distress, defamation; or any claim for costs, fees, or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as
the “Claims”). 

  

	3.	I represent that I have made no assignment or transfer of any right, claim, demand, cause of action, or other matter covered by paragraph 2 above. 

 

	4.	In signing this General Release, I acknowledge and intend that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. I expressly consent that this General Release shall be
given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims (notwithstanding any state statute that expressly limits the effectiveness of a general release of
unknown, unsuspected or unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. I acknowledge and agree that this waiver is an essential and material term of this General Release and that
without such waiver the Company would not have agreed to the terms of the Agreement. I further agree that in the event I should bring a Claim seeking damages against the Company or any Released Party, or in the event I should seek to recover against
the Company or any Released Party in any Claim brought by a governmental agency on my behalf, this General Release shall serve as a complete defense to such Claims. I further waive any right to recovery in a proceeding instituted on my behalf by an
administrative agency or other entity regarding my employment with, or separation from, the Company. I further agree that I am not aware of any pending charge or complaint of the type described in paragraph 2 as of the execution of this
General Release. 

  

	5.	I represent that I am not aware of any Claim by me other than the claims that are released by this Agreement. I agree to expressly waive any rights I may have under any state statue that expressly limits the
effectiveness of a general release of unknown, unsuspected or unanticipated Claims, as well as under any other statute or common law principles of similar effect. 

 

	6.	I agree that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or construed at any time to be an admission by the Company, any other Released Party or myself
of any improper or unlawful conduct. 

  
 20 

	7.	I agree that I will forfeit all Severance Payments payable by the Company pursuant to the Agreement if I challenge the validity of this General Release. I also agree that if I violate this General Release by suing the
Company or the other Released Parties in respect of a Claim, I will pay all reasonable costs and expenses of defending against the suit incurred by the Released Parties in the event that they are the prevailing party, including reasonable
attorneys’ fees, and return all payments received by me pursuant to the Agreement. 

  

	8.	I acknowledge and reaffirm my obligation to abide by the covenants set forth in the Agreement. I further agree that as of the date hereof, I have returned to the Company any and all property, tangible or intangible,
relating to the Business, which I possessed or had control over at any time (including, but not limited to, company-provided credit cards, building or office access cards, keys, computer equipment, manuals,
files, documents, records, software, customer data base and other data) and that I shall not retain any copies, compilations, extracts, excerpts, summaries or other notes of any such manuals, files, documents, records, software, customer data base
or other data. 

  

	9.	Notwithstanding anything in this General Release to the contrary, this General Release shall not relinquish, diminish, or in any way affect any rights or claims arising out of any breach by the Company or by any other
Released Party of the Agreement after the date hereof. 

  

	10.	I hereby waive any reinstatement or future employment with the Company or any of its Affiliates and agree never to apply for employment or otherwise seek to be hired, rehired, employed, reemployed, or reinstated by the
Company or any of its Affiliates without the prior written approval of the Company. 

  

	11.	Whenever possible, each provision of this General Release shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this General Release is held to be invalid,
illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this General Release shall be reformed,
construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. Upon a finding by a court of competent jurisdiction that any release or agreement in this General Release is illegal,
void or unenforceable, I agree, at the Company’s option, to execute promptly a release and agreement that is legal and enforceable. My failure to comply with the obligations to promptly execute such release will constitute a material breach of
this General Release. 

 BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 

 

	 	(i)	I HAVE READ IT CAREFULLY; 

  
 21 

	 	(ii)	I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF
1964, AS AMENDED; THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED [UPDATE AS OF SIGNING]; 

 

	 	(iii)	I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

  

	 	(iv)	I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION; 

 

	 	(v)	I HAVE HAD AT LEAST 21 DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE SUBSTANTIALLY IN ITS FINAL FORM ON
                         ,              TO CONSIDER IT AND THE
CHANGES MADE SINCE THE                          ,             
VERSION OF THIS RELEASE ARE NOT MATERIAL AND WILL NOT RESTART THE REQUIRED 21-DAY PERIOD; 

  

	 	(vi)	I UNDERSTAND THAT I HAVE SEVEN DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 

 

	 	(vii)	I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND 

 

	 	(viii)	I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME. 

DATED AS OF                     ,
             
  

	
	  

	[name of Executive]

  
 22EX-10.8

 Exhibit 10.8 

Avenue Bank 
 Supplemental Executive Retirement Plan Agreement

  
  

AVENUE BANK 

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AGREEMENT 

THIS SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AGREEMENT (this “Agreement”) is adopted this 26 day of October, 2007, by and between
AVENUE BANK, a state-chartered commercial bank located in Nashville, Tennessee (the “Bank”), and RONALD SAMUELS (the “Executive”). 

The purpose of this Agreement is to provide specified benefits to the Executive, a member of a select group of management or highly
compensated employees who contribute materially to the continued growth, development and future business success of the Bank. This Agreement shall be unfunded for tax purposes and for purposes of Title I of the Employee Retirement Income Security
Act of 1974 (“ERISA”), as amended from time to time. 
 Article 1 

Definitions 
 Whenever used
in this Agreement, the following words and phrases shall have the meanings specified: 
  

	1.1	“Base Salary” means the annualized cash compensation relating to services performed during any calendar year, excluding distributions from nonqualified deferred compensation plans, bonuses, commissions,
overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, and other fees, and automobile and other allowances paid to the Executive for employment rendered (whether or not such allowances are included in
the Executive’s gross income). Base Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Executive pursuant to all qualified or non-qualified plans of
the Bank and shall be calculated to include amounts not otherwise included in the Executive’s gross income under Code Sections 125, 402(e)(3), 402(h), or 403(b) pursuant to plans established by the Bank; provided, however, that all such amounts
will be included in compensation only to the extent that had there been no such plan, the amount would have been payable in cash to the Executive. 

  

	1.2	“Beneficiary” means each designated person or entity, or the estate of the deceased Executive, entitled to any benefits upon the death of the Executive pursuant to Article 4. 

 

	1.3	“Beneficiary Designation Form” means the form established from time to time by the Plan Administrator that the Executive completes, signs and returns to the Plan Administrator to designate one or more
Beneficiaries. 

  

	1.4	“Board” means the Board of Directors of the Bank as from time to time constituted. 

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

	1.5	“Change in Control” means a change in the ownership or effective control of the Bank, or in the ownership of a substantial portion of the assets of the Bank, as such change is defined in Code
Section 409A and regulations thereunder. 

  

	1.6	“Code” means the Internal Revenue Code of 1986, as amended, and all regulations and guidance thereunder, including such regulations and guidance as may be promulgated after the Effective Date.

  

	1.7	“Disability” means the Executive: (i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result
in death or can be expected to last for a continuous period of not less than twelve (12) months; or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected
to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Bank. The Executive shall
be deemed to be disabled if determined to be totally disabled by the Social Security Administration. The Executive will also be deemed to be disabled if determined to be disabled in accordance with a disability insurance program covering employees
of the Bank provided that the definition of “disability” applied under such insurance program complies with the requirements of the preceding sentence. Upon the request of the Plan Administrator, the Executive must submit proof to the Plan
Administrator of the Social Security Administration’s or the provider’s determination. 

  

	1.8	“Early Termination” means Separation from Service before attainment of Normal Retirement Age except when such Separation from Service occurs within twenty-four (24) months following a Change in
Control or due to death or Termination for Cause. 

  

	1.9	“Effective Date” means September 1, 2007. 

  

	1.10	“Normal Retirement Age” means November 1, 2011. 

  

	1.11	“Normal Retirement Date” means the later of Normal Retirement Age or Separation from Service. 

  

	1.12	“Plan Administrator” means the Board or such committee or person as the Board shall appoint. 

  

	1.13	“Plan Year” means each twelve (12) month period commencing on January 1 and ending on December 31 of each year. The initial Plan Year shall commence on the Effective Date of this
Agreement and end on the following December 31. 

  

	1.14	 “Separation from Service” means termination of the Executive’s employment with the Bank for reasons other than death. Whether a
Separation from Service has occurred is determined in accordance with the requirements of Code Section 409A based on whether the facts and circumstances indicate that the Bank and Executive reasonably anticipated

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

	 	
that no further services would be performed after a certain date or that the level of bona fide services the Executive would perform after such date (whether as an employee or as an independent
contractor) would permanently decrease to no more than twenty percent (20%) of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36) month
period (or the full period of services to the Bank if the Executive has been providing services to the Bank less than thirty-six (36) months). 

  

	1.15	“Specified Employee” means an employee who at the time of Separation from Service is a key employee of the Bank, if any stock of the Bank is publicly traded on an established securities market or
otherwise. For purposes of this Agreement, an employee is a key employee if the employee meets the requirements of Code Section 416(i)(1)(A)(i), (ii), or (iii) (applied in accordance with the regulations thereunder and disregarding section
416(i)(5)) at any time during the twelve (12) month period ending on December 31 (the “identification period”). If the employee is a key employee during an identification period, the employee is treated as a key employee for
purposes of this Agreement during the twelve (12) month period that begins on the first day of April following the close of the identification period. 

  

	1.16	“Termination for Cause” means Separation from Service for: 

  

	 	(a)	Gross negligence or gross neglect of duties to the Bank; 

  

	 	(b)	Conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the Executive’s employment with the Bank; or 

 

	 	(c)	Fraud, disloyalty, dishonesty or willful violation of any law or significant Bank policy committed in connection with the Executive’s employment and resulting in a material adverse effect on the Bank.

 Article 2 

Distributions During Lifetime 
  

	2.1	Normal Retirement Benefit. Upon Separation from Service on or after attaining Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.1 in lieu of any other
benefit under this Article. 

  

	 	2.1.1	Amount of Benefit. The annual benefit under this Section 2.1 is an amount equal to sixty percent (60%) of the average Base Salary for the sixty (60) full months immediately preceding Separation
from Service. If Separation from Service is prior to sixty (60) full months of employment, then Base Salary is the average of Base Salary for the period served. 

 

	 	2.1.2	Distribution of Benefit. The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following the Separation from
Service. The annual benefit shall be distributed to the Executive for the greater of: (i) fifteen (15) years; or (ii) the Executive’s lifetime. 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

	2.2	Early Termination Benefit. If Early Termination occurs, the Bank shall distribute to the Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Article.

  

	 	2.2.1	Amount of Benefit. The annual benefit under this Section 2.2 is an amount equal to sixty percent (60%) of the average Base Salary for the sixty (60) full months immediately preceding Separation
from Service subject to the following vesting schedule: 

  

					
	 Date in which Separation from Service occurs
	  	Vesting Percentage	 
	 Before 11/1/2007
	  	 	0	% 
	 11/1/2007 – 10/31/2008
	  	 	20	% 
	 11/1/2008 – 10/31/2009
	  	 	40	% 
	 11/1/2009 – 10/31/2010
	  	 	60	% 
	 11/1/2010 – 10/31/2011
	  	 	80	% 
	 After 10/31/2011
	  	 	100	% 

 If Separation from Service is prior to sixty (60) full months of employment, then Base Salary is the
average Base Salary for the period served. 
  

	 	2.2.2	Distribution of Benefit. The Bank shall distribute the benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Normal Retirement Age. The annual
benefit shall be distributed to the Executive for the greater of: (i) fifteen (15) years; or (ii) the Executive’s lifetime. 

  

	2.3	Disability Benefit. If the Executive experiences a Disability which results in a Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in
this Section 2.3 in lieu of any other benefit under this Article. 

  

	 	2.3.1	Amount of Benefit. The annual benefit under this Section 2.3 is an amount equal to sixty percent (60%) of the average Base Salary for the sixty (60) full months immediately preceding Separation
from Service subject to the following vesting schedule: 

  

					
	 Date in which Separation from Service occurs
	  	Vesting Percentage	 
	 Before 11/1/2007
	  	 	0	% 
	 11/1/2007 – 10/31/2008
	  	 	20	% 
	 11/1/2008 – 10/31/2009
	  	 	40	% 
	 11/1/2009 – 10/31/2010
	  	 	60	% 
	 11/1/2010 – 10/31/2011
	  	 	80	% 
	 After 10/31/2011
	  	 	100	% 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

 If Separation from Service is prior to sixty (60) full months of employment, then Base
Salary is the average Base Salary for the period served. 
  

	 	2.3.2	Distribution of Benefit. The Bank shall distribute the benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Normal Retirement Age. The annual
benefit shall be distributed to the Executive for the greater of: (i) fifteen (15) years; or (ii) the Executive’s lifetime. 

  

	2.4	Change in Control Benefit. If a Change in Control occurs, followed within twenty (24) months by a Separation from Service, the Bank shall distribute to the Executive the benefit described in this
Section 2.4 in lieu of any other benefit under this Article. 

  

	 	2.4.1	Amount of Benefit. The annual benefit under this Section 2.4 is an amount equal to sixty percent (60%) of the average Base Salary for the sixty (60) full months immediately preceding
Separation from Service. If Separation from Service is prior to sixty (60) full months, then Base Salary is the average Base Salary for the period served. 

  

	 	2.4.2	Distribution of Benefit. The Bank shall distribute the benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The
annual benefit shall be distributed to the Executive for the greater of: (i) fifteen (15) years; or (ii) the Executive’s lifetime. 

  

	 	2.4.3	Excess Parachute Payment Gross-up. If any benefit distributable under this Agreement would create an excise tax under the excess parachute rules of Code Section 280G, the Bank shall distribute to the
Executive an additional amount (the “Gross-up”) equal to: the Executive’s excise penalty tax and any Medicare or Social Security taxes under this Agreement amount divided by the difference between (one minus the sum of (the
penalty tax rate plus the Executive’s marginal income tax rate)). The Gross-up shall be paid in the same matter as in Section 2.4.2. 

  

	2.5	 Medicare/Social Security Gross-Up. The Bank shall annually pay to the Executive an amount equal to the Medicare and Social Security taxes
attributable to the Executive under this Agreement. The Bank shall calculate the amount due to the Executive by multiplying, one and forty-five one hundredths percent (1.45%) times any amounts under

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

	 	
this Agreement causing Medicare taxes and by multiplying six and twenty one hundred percent (6.20%) times any amounts under this Agreement causing Social Security taxes for amounts below the
FICA Wage Limit. If the Executive’s Social Security wages exceed the FICA Wage Limit and this Agreement does not cause any additional Social Security tax to be paid by the Executive, Social Security taxes will not be grossed up under this
Agreement. 

 The Medicare/Social Security gross-up shall be paid within two and one-half (2
 1⁄2) months following the end of each calendar year. 
  

	2.6	Restriction on Commencement of Distributions. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a Specified Employee, the provisions of this Section 2.6
shall govern all distributions hereunder. If benefit distributions which would otherwise be made to the Executive due to Separation from Service are limited because the Executive is a Specified Employee, then such distributions shall not be made
during the first six (6) months following Separation from Service. Rather, any distribution which would otherwise be paid to the Executive during such period shall be accumulated and paid to the Executive in a lump sum on the first day of the
seventh month following Separation from Service. All subsequent distributions shall be paid in the manner specified. 

  

	2.7	Distributions Upon Taxation of Amounts Deferred. If, pursuant to Code Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Executive becomes subject to tax on the
amounts deferred hereunder, then the Bank may make a limited distribution to the Executive in a manner that conforms to the requirements of Code section 409A. Any such distribution will decrease the Executive’s benefits distributable under this
Article 2. 

  

	2.8	Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the
timing or change the form of distributions. Any such amendment: 

  

	 	(a)	may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; 

  

	 	(b)	must, for benefits distributable under Section 2.5, be made at least twelve (12) months prior to the first scheduled distribution; 

 

	 	(c)	must, for benefits distributable under Sections 2.1, 2.2, 2.3, 2.4 and 2.5, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to
be made; and 

  

	 	(d)	must take effect not less than twelve (12) months after the amendment is made. 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

 Article 3 

Distribution at Death 
  

	3.1	Death During Active Service. If the Executive dies prior to Separation from Service, the Bank shall distribute to the Beneficiary the benefit described in this Section 3.1. This benefit shall be distributed
in lieu of any benefit under Article 2. 

  

	 	3.1.1	Amount of Benefit. The annual benefit under this Section 3.1 is an amount equal to sixty percent (60%) of the average Base Salary for the sixty (60) full months immediately preceding Separation
from Service. If Separation from Service is prior to sixty (60) full months of employment, then Base Salary is the average Base Salary for the period served. 

 

	 	3.1.2	Distribution of Benefit. The Bank shall distribute the annual benefit to the Beneficiary in twelve (12) equal monthly installments for fifteen (15) years commencing within sixty (60) days following
the Executive’s death. The Beneficiary shall be required to provide to the Bank the Executive’s death certificate. 

  

	3.2	Death During Distribution of a Benefit. If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the
Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived; provided, however, for benefits payable under Article 2, if the Executive has received less
than one hundred eighty (180) equal consecutive monthly installments, the Beneficiary shall continue to receive the same amounts at the same times until the sum of the installments to the Beneficiary and Executive total one hundred eighty
(180). 

  

	3.3	Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are
scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall commence within sixty (60) days following
the Executive’s death for a total of one hundred eighty (180) equal consecutive monthly installments. 

 Article 4

 Beneficiaries 
  

	4.1	In General. The Executive shall have the right, at any time, to designate a Beneficiary to receive any benefit distributions under this Agreement upon the death of the Executive. The Beneficiary designated under
this Agreement may be the same as or different from the beneficiary designated under any other plan of the Bank in which the Executive participates. 

  

	4.2	 Designation. The Executive shall designate a Beneficiary by completing and signing the Beneficiary Designation Form and delivering it to the
Plan Administrator or its 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

	 	
designated agent. If the Executive names someone other than the Executive’s spouse as a Beneficiary, the Plan Administrator may, in its sole discretion, determine that spousal consent is
required to be provided in a form designated by the Plan Administrator, executed by the Executive’s spouse and returned to the Plan Administrator. The Executive’s beneficiary designation shall be deemed automatically revoked if the
Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved. The Executive shall have the right to change a Beneficiary by completing, signing and otherwise complying with the
terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled.
The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Executive and accepted by the Plan Administrator prior to the Executive’s death. 

 

	4.3	Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted and acknowledged in writing by the Plan Administrator or its designated agent.

  

	4.4	No Beneficiary Designation. If the Executive dies without a valid beneficiary designation, or if all designated Beneficiaries predecease the Executive, then the Executive’s spouse shall be the designated
Beneficiary. If the Executive has no surviving spouse, any benefit shall be paid to the Executive’s estate. 

  

	4.5	Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the
disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan
Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as
the case may be, and shall completely discharge any liability under this Agreement for such distribution amount. 

 Article
5 
 General Limitations 
  

	5.1	Termination for Cause. Notwithstanding any provision of this Agreement to the contrary, the Executive shall not be entitled to, and the Bank shall not distribute, any benefit under this Agreement if the
Executive’s employment with the Bank is terminated by the Bank or an applicable regulator due to a Termination for Cause. 

  

	5.2	Suicide or Misstatement. No benefit shall be earned or distributed if the Executive commits suicide within two (2) years after the Effective Date, or if an insurance company which issued a life insurance
policy covering the Executive and owned by the Bank denies coverage (i) for material misstatements of fact made by the Executive on an application for such life insurance, or (ii) for any other reason. 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

	5.3	Removal. Notwithstanding any provision of this Agreement to the contrary, the Executive shall not be entitled to, and the Bank shall not distribute, any benefit under this Agreement if the Executive is subject to
a final removal or prohibition order issued by an appropriate federal banking agency pursuant to Section 8(e) of the Federal Deposit Insurance Act. Notwithstanding anything herein to the contrary, any payments made to the Executive pursuant to
this Agreement, or otherwise, shall be subject to and conditioned upon compliance with 12 U.S.C. 1828 and FDIC Regulation 12 CFR Part 359, Golden Parachute Indemnification Payments and any other regulations or guidance promulgated thereunder.

  

	5.4	Forfeiture Provision. The Executive shall forfeit any non-distributed benefits under this Agreement if during the term of this Agreement and within thirty-six (36) months following a Separation from Service,
the Executive, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding
an ownership interest of three percent (3%) or less in the stock of a publicly-traded company): 

  

	 	(i)	becomes employed by, participates in, or becomes connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the Executive’s
responsibilities will include providing banking or other financial services within twenty-five (25) miles of any office maintained by the Bank as of the date of the termination of the Executive’s employment; 

 

	 	(ii)	participates in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a regular or temporary, part-time or full-time basis, any individual who was employed
by the Bank as of the date of termination of the Executive’s employment; 

  

	 	(iii)	assists, advises, or serves in any capacity, representative or otherwise, any third party in any action against the Bank or transaction involving the Bank; 

 

	 	(iv)	sells, offers to sell, provides banking or other financial services, assists any other person in selling or providing banking or other financial services, or solicits or otherwise competes for, either directly or
indirectly, any orders, contract, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Bank (the preceding hereinafter referred to as “Services”),
to or from any person or entity from whom the Executive or the Bank, to the knowledge of the Executive provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three
(3) year period immediately prior to the termination of the Executive’s employment; 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

	 	(v)	divulges, discloses, or communicates to others in any manner whatsoever, any confidential information of the Bank, to the knowledge of the Executive, including, but not limited to, the names and addresses of customers
or prospective customers, of the Bank, as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the Bank, earnings or other
information concerning the Bank. The restrictions contained in this subparagraph (v) apply to all information regarding the Bank, regardless of the source who provided or compiled such information. Notwithstanding anything to the contrary, all
information referred to herein shall not be disclosed unless and until it becomes known to the general public from sources other than the Executive. 

  

	5.5	Change in Control. The forfeiture provision detailed in Section 5.4 hereof shall not be enforceable following a Change in Control. 

Article 6 

Administration of Agreement 
  

	6.1	Plan Administrator Duties. The Plan Administrator shall administer this Agreement according to its express terms and shall also have the discretion and authority to (i) make, amend, interpret and enforce all
appropriate rules and regulations for the administration of this Agreement and (ii) decide or resolve any and all questions, including interpretations of this Agreement, as may arise in connection with this Agreement to the extent the exercise
of such discretion and authority does not conflict with Code Section 409A. 

  

	6.2	Agents. In the administration of this Agreement, the Plan Administrator may employ agents and delegate to them such administrative duties as the Plan Administrator sees fit, including acting through a duly
appointed representative, and may from time to time consult with counsel who may be counsel to the Bank. 

  

	6.3	Binding Effect of Decisions. Any decision or action of the Plan Administrator with respect to any question arising out of or in connection with the administration, interpretation or application of this Agreement
and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in this Agreement. 

  

	6.4	Indemnity of Plan Administrator. The Bank shall indemnify and hold harmless the Plan Administrator against any and all claims, losses, damages, expenses or liabilities arising from any action or failure to act
with respect to this Agreement, except in the case of willful misconduct by the Plan Administrator. 

  

	6.5	Bank Information. To enable the Plan Administrator to perform its functions, the Bank shall supply full and timely information to the Plan Administrator on all matters relating to the date and circumstances of
the Executive’s death, Disability or Separation from Service, and such other pertinent information as the Plan Administrator may reasonably require. 

  

	6.6	Annual Statement. The Plan Administrator shall provide to the Executive, within one hundred twenty (120) days after the end of each Plan Year, a statement setting forth the benefits to be distributed under
this Agreement. 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

 Article 7 

Claims and Review Procedures 
  

	7.1	Claims Procedure. An Executive or Beneficiary (“claimant”) who has not received benefits under this Agreement that he or she believes should be distributed shall make a claim for such benefits as
follows: 

  

	 	7.1.1	Initiation – Written Claim. The claimant initiates a claim by submitting to the Plan Administrator a written claim for the benefits. If such a claim relates to the contents of a notice or statement received
by the claimant, the claim must be made within sixty (60) days after such notice or statement was received by the claimant. All other claims must be made within one hundred eighty (180) days of the date on which the event that caused the
claim to arise occurred. The claim must state with particularity the determination desired by the claimant. 

  

	 	7.1.2	Timing of Plan Administrator Response. The Plan Administrator shall respond to such claimant within ninety (90) days after receiving the claim. If the Plan Administrator determines that special
circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional ninety (90) days by notifying the claimant in writing, prior to the end of the initial ninety (90) day
period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision. 

 

	 	7.1.3	Notice of Decision. If the Plan Administrator denies part or all of the claim, the Plan Administrator shall notify the claimant in writing of such denial. The Plan Administrator shall write the notification in a
manner calculated to be understood by the claimant. The notification shall set forth: 

  

	 	(a)	The specific reasons for the denial; 

  

	 	(b)	A reference to the specific provisions of this Agreement on which the denial is based; 

  

	 	(c)	A description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed; 

 

	 	(d)	An explanation of this Agreement’s review procedures and the time limits applicable to such procedures; and 

  

	 	(e)	A statement of the claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review. 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

	7.2	Review Procedure. If the Plan Administrator denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of the denial as follows:

  

	 	7.2.1	Initiation – Written Request. To initiate the review, the claimant, within sixty (60) days after receiving the Plan Administrator’s notice of denial, must file with the Plan Administrator a written
request for review. 

  

	 	7.2.2	Additional Submissions – Information Access. The claimant shall then have the opportunity to submit written comments, documents, records and other information relating to the claim. The Plan Administrator
shall also provide the claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits.

  

	 	7.2.3	Considerations on Review. In considering the review, the Plan Administrator shall take into account all materials and information the claimant submits relating to the claim, without regard to whether such
information was submitted or considered in the initial benefit determination. 

  

	 	7.2.4	Timing of Plan Administrator Response. The Plan Administrator shall respond in writing to such claimant within sixty (60) days after receiving the request for review. If the Plan Administrator determines
that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional sixty (60) days by notifying the claimant in writing, prior to the end of the initial sixty
(60) day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision. 

 

	 	7.2.5	Notice of Decision. The Plan Administrator shall notify the claimant in writing of its decision on review. The Plan Administrator shall write the notification in a manner calculated to be understood by the
claimant. The notification shall set forth: 

  

	 	(a)	The specific reasons for the denial; 

  

	 	(b)	A reference to the specific provisions of this Agreement on which the denial is based; 

  

	 	(c)	A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA
regulations) to the claimant’s claim for benefits; and 

  

	 	(d)	A statement of the claimant’s right to bring a civil action under ERISA Section 502(a). 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

 Article 8 

Amendments and Termination 
  

	8.1	Amendments. This Agreement may be amended only by a written agreement signed by the Bank and the Executive. However, the Bank may unilaterally amend this Agreement to conform with written directives to the Bank
from its auditors or banking regulators or to comply with legislative changes or tax law, including without limitation Code Section 409A. 

  

	8.2	Plan Termination Generally. This Agreement may be terminated only by a written agreement signed by the Bank and the Executive. The benefit shall be the vested benefit as specified in Article 2 or Article 3 as
applicable as of the date this Agreement is terminated. Except as provided in Section 8.3, the termination of this Agreement shall not cause a distribution of benefits under this Agreement. Rather, upon such termination benefit distributions
will be made at the earliest distribution event permitted under Article 2 or Article 3. 

  

	8.3	Plan Terminations Under Code Section 409A. Notwithstanding anything to the contrary in Section 8.2, if the Bank terminates this Agreement in the following circumstances: 

 

	 	(a)	Within thirty (30) days before or twelve (12) months after a Change in Control, provided that all distributions are made no later than twelve (12) months following such termination of this Agreement and
further provided that all the Bank’s arrangements which are substantially similar to this Agreement are terminated so the Executive and all participants in the similar arrangements are required to receive all amounts of
compensation deferred under the terminated arrangements within twelve (12) months of such termination; 

  

	 	(b)	Upon the Bank’s dissolution or with the approval of a bankruptcy court provided that the amounts deferred under this Agreement are included in the Executive’s gross income in the latest of (i) the
calendar year in which this Agreement terminates; (ii) the calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or (iii) the first calendar year in which the distribution is administratively
practical; or 

  

	 	(c)	Upon the Bank’s termination of this and all other arrangements that would be aggregated with this Agreement pursuant to Treasury Regulations Section 1.409A-1(c) if the Executive participated in such
arrangements (“Similar Arrangements”), provided that (i) the termination and liquidation does not occur proximate to a downturn in the financial health of the Bank, (ii) all termination distributions are made no earlier than
twelve (12) months and no later than twenty-four (24) months following such termination, and (iii) the Bank does not adopt any new arrangement that would be a Similar Arrangement for a minimum of three (3) years following the
date the Bank takes all necessary action to irrevocably terminate and liquidate the Agreement; 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

 the Bank may distribute the amount the Executive is vested in under this Agreement,
determined as of the date of the termination of this Agreement, to the Executive in a lump sum subject to the above terms. 
 Article 9

 Miscellaneous 
  

	9.1	Binding Effect. This Agreement shall bind the Executive and the Bank and their beneficiaries, survivors, executors, administrators and transferees. 

 

	9.2	No Guarantee of Employment. This Agreement is not a contract for employment. It does not give the Executive the right to remain as an employee of the Bank nor interfere with the Bank’s right to discharge the
Executive. It does not require the Executive to remain an employee nor interfere with the Executive’s right to terminate employment at any time. 

  

	9.3	Non-Transferability. Benefits under this Agreement cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner. 

 

	9.4	Tax Withholding and Reporting. The Bank shall withhold any taxes that are required to be withheld, including but not limited to taxes owed under Code Section 409A from the benefits provided under this
Agreement. The Executive acknowledges that the Bank’s sole liability regarding taxes is to forward any amounts withheld to the appropriate taxing authorities. The Bank shall satisfy all applicable reporting requirements, including those under
Code Section 409A. 

  

	9.5	Applicable Law and Forum. This Agreement and all rights hereunder shall be governed by the laws of the State of Tennessee, except to the extent preempted by the laws of the United States of America. Any legal
action arising out of or related to this Agreement shall be brought in a court of competent jurisdiction located in Davidson County, Tennessee. 

  

	9.6	Unfunded Arrangement. The Executive and the Beneficiary are general unsecured creditors of the Bank for the distribution of benefits under this Agreement. The benefits represent the mere promise by the Bank to
distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors. Any insurance on the Executive’s life or other
informal funding asset is a general asset of the Bank to which the Executive and Beneficiary have no preferred or secured claim. 

  

	9.7	Reorganization. The Bank shall not merge or consolidate into or with another bank, or reorganize, or sell substantially all of its assets to another bank, firm or person unless such succeeding or continuing bank,
firm or person agrees to assume and discharge the obligations of the Bank under this Agreement. Upon the occurrence of such an event, the term “Bank” as used in this Agreement shall be deemed to refer to the successor or survivor entity.

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

	9.8	Entire Agreement. This Agreement constitutes the entire agreement between the Bank and the Executive as to the subject matter hereof. No rights are granted to the Executive by virtue of this Agreement other than
those specifically set forth herein. 

  

	9.9	Interpretation. Wherever the fulfillment of the intent and purpose of this Agreement requires and the context will permit, the use of the masculine gender includes the feminine and use of the singular includes
the plural. This Agreement shall be interpreted without the benefit of any rule of interpretation or construction under which a contract is or may be construed against the drafter. 

 

	9.10	Alternative Action. In the event it shall become impossible for the Bank or the Plan Administrator to perform any act required by this Agreement due to regulatory or other constraints, the Bank or Plan
Administrator may perform such alternative act as most nearly carries out the intent and purpose of this Agreement and is in the best interests of the Bank, provided that such alternative act does not violate Code Section 409A.

  

	9.11	Headings. Article and section headings are for convenient reference only and shall not control or affect the meaning or construction of any provision herein. 

 

	9.12	Validity. If any provision of this Agreement shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Agreement shall be construed and
enforced as if such illegal or invalid provision had never been included herein. The parties agree that a court of competent jurisdiction shall have the power to revise or reform this Agreement, if necessary, to make this Agreement enforceable to
the maximum extent permitted by law. 

  

	9.13	Notice. Any notice or filing required or permitted to be given to the Bank or Plan Administrator under this Agreement shall be sufficient if in writing and hand-delivered or sent by registered or certified mail
to the address below: 

  

	
	 Avenue Bank

	 111 Tenth Avenue South, Suite 400

	 Nashville TN 37203

 Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date
shown on the postmark on the receipt for registration or certification. 
 Any notice or filing required or permitted to be given to the
Executive under this Agreement shall be sufficient if in writing and hand-delivered or sent by registered or certified mail to the last known address of the Executive. 
  

	9.14	 Deduction Limitation on Benefit Payments. If the Bank reasonably anticipates that the Bank’s deduction with respect to any distribution
under this Agreement would be limited or eliminated by application of Code Section 162(m), then to the extent deemed 

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
  

 
  

	 	
necessary by the Bank to ensure that the entire amount of any distribution from this Agreement is deductible, the Bank may delay payment of any amount that would otherwise be distributed under
this Agreement. The delayed amounts shall be distributed to the Executive (or the Beneficiary in the event of the Executive’s death) at the earliest date the Bank reasonably anticipates that the deduction of the payment of the amount will not
be limited or eliminated by application of Code Section 162(m). 

  

	9.15	Compliance with Section 409A. This Agreement shall be interpreted and administered consistent with Code Section 409A. 

IN WITNESS WHEREOF, the Executive and a duly authorized representative of the Bank have signed this Agreement. 

 

							
	EXECUTIVE	 		 	AVENUE BANK
				
	 /s/ Ronald Samuels
	 		 	By:	 	 /s/ Kent Cleaver

	Ronald Samuels	 		 	Title:	 	Chief Operating Officer

  

 Avenue Bank 

Supplemental Executive Retirement Plan Agreement 
 Beneficiary
Designation Form 
  
  

 

	{    }	New Designation 

  

	{    }	Change in Designation 

 I, Ronald Samuels, designate the following as Beneficiary under this Agreement: 

 

					
	 Primary:
	  			
		  	 	    	% 
		  	 	    	% 
	 Contingent:
	  			
		  	 	    	% 
		  	 	    	% 

 Notes: 
  

	 	•	 	PRINT CLEARLY or TYPE the name(s) of the Beneficiary(ies). 

  

	 	•	 	To name a trust as a Beneficiary, provide the name of the trustee(s) and the exact name and date of the trust agreement.  

 

	 	•	 	To name your estate as a Beneficiary, write “Estate of [your name]”. 

  

	 	•	 	Be aware that none of the contingent Beneficiaries will receive anything unless ALL of the primary beneficiaries predecease you. 

I understand that I may change these Beneficiary designations by delivering a new written designation to the Plan Administrator, which shall be effective only
upon receipt and acknowledgment by the Plan Administrator prior to my death. I further understand that the designations will be automatically revoked if the Beneficiary(ies) predeceases me, or, if I have named my spouse as a Beneficiary and I become
divorced or legally separated from such spouse. 
  

									
	Name:	 	  
	 		 		 	
					
	Signature:	 	  
	 		 	Date:	 	  

 Received by the Plan Administrator this      day of
            , 200   
  

			
	 By:
	 	  

		
	 Title:

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