Document:

2007 Special Discretionary Bonus Plan

 EXHIBIT 10.2 
 

 
 2007 SPECIAL DISCRETIONARY BONUS PLAN 
 Approved: February 16, 2007 

 THE COOPER COMPANIES, INC. 
 2007 SPECIAL DISCRETIONARY BONUS PLAN 
 SECTION I - NAME 
 The name of this plan is the “2007 Special Discretionary Bonus Plan” (the “Plan” or “2007 Special Plan”). 
 SECTION II - SCOPE 
 This Plan sets out guidelines for certain
executives of The Cooper Companies, Inc. and its subsidiaries (the “Company” or “TCC”) as set forth in Exhibit A (the “Participants”). 
 Where the terms of this Plan differ from the terms of any Participant’s employment or severance contract, the terms of such contract will dictate. No new such arrangements shall be entered into without the
advance written approval of the Organization and Compensation Committee of the Board of Directors (the “Committee”). 
 SECTION III -
PURPOSE 
 The purpose of the Plan is to provide for achievement of a special discretionary bonus for the executives named in Exhibit A upon the
accomplishment of certain specified objectives within the first 6 months of the 2007 fiscal year. 
 SECTION IV - DETERMINATION OF SPECIAL DISCRETIONARY
BONUS 
 Each Participant’s award opportunity will be based on the achievement of: a) projected levels of production of certain contact lens
products and b) increased sales of daily disposable contact lenses as compared to sales during the first two fiscal quarters of 2006. 
 Participants will be
eligible to receive awards of up to the amounts indicated in Exhibit A. Of these total possible award amounts, eligibility for 40% will be based on achievement of specified production targets during the month of April 2007, 40% will be based on
achievement of cumulative production targets for November 2006 through April 2007 (inclusive), and 20% will be based on increased sales of daily disposable products for November 2006 through April 2007 (inclusive) over the comparable prior year
period. Award achievement levels for each factor will be determined by target product production and sales levels, and associated award achievement levels for each of these factors, as set by the Committee. 
  

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 SECTION V - AMENDMENT OR TERMINATION 
 The Plan may be amended or terminated at any time by action of the Committee or the Board of Directors of the Company. 
 SECTION VI - ADMINISTRATION AND INTERPRETATION 
 The Committee shall be responsible, in its sole discretion, for administration and
interpretation of the Plan. Such interpretations shall be final. 
 Attachments: 
  

	 	•	 	 Exhibit A: Participating Executive Officers & Possible Bonus Amounts 

  

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 2007 Special Plan 
 EXHIBIT A 
 PARTICIPATING EXECUTIVE OFFICERS AND POSSIBLE AWARD AMOUNTS 
 Participating Executive Officers: 
  

			
	 A. Thomas Bender
	  	President & Chief Executive Officer
	 Robert S. Weiss
	  	Executive Vice-President & Chief Operating Officer
	 Gregory A. Fryling
	  	President & Chief Operating Officer of CooperVision, Inc.

 Possible Award Amounts: 
 Each of the executives named in Exhibit A is eligible to receive an award of up to the amount indicated: 
  

			
	 Name
	  	Total Possible Award
	 A. Thomas Bender
	  	$136,000
	 Robert S. Weiss
	  	$75,000
	 Gregory A. Fryling
	  	$69,000

  

 3Employment Continuation Agreement

 EXHIBIT 10.1 
 EMPLOYMENT CONTINUATION AGREEMENT 
 THIS AGREEMENT between ALABAMA NATIONAL
BANCORPORATION, a Delaware corporation (the “Company”), and James R. Thompson, III (the “Executive”), is dated as of this 20th day of February, 2007. 
 W I T N E S S E T H : 
 WHEREAS, the Company has employed the Executive
in a key executive officer position at First American Bank, a wholly-owned subsidiary of the Company, and has determined that the Executive holds a position which is of critical importance to the Company; 
 WHEREAS, the Company believes that, in the event it is confronted with a situation that could result in a change in ownership or control of the
Company, continuity of management will be essential to its ability to evaluate and respond to such situation in the best interests of stockholders; 
 WHEREAS, the Company understands that any such situation will present significant concerns for the Executive with respect to his financial and job security; 
 WHEREAS, the Company desires to assure itself of the Executive’s services during any period in which it is confronting such a situation and
to provide the Executive with certain financial assurances to enable the Executive to perform the responsibilities of his position without undue distraction and to exercise his judgment without bias due to his personal circumstances; 
 WHEREAS, to achieve these objectives, the Company and the Executive desire to enter into an agreement providing the Company and the Executive with
certain rights and obligations upon the occurrence of a Change of Control (as defined in Section 2 below); 
 NOW, THEREFORE, in
consideration of the premises and mutual covenants herein contained, it is hereby agreed by and between the Company and the Executive as follows: 
 Section 1. Operation of Agreement. 
 (a) Effective Date. The effective date of this Agreement shall be the
date on which a Change of Control occurs (the “Change of Control Date”); provided, however, that if the Executive is not employed by the Company on the Change of Control Date, this Agreement shall be void and without effect. 
 Section 2. Definitions. 
 (a) Average Closing Price. “Average Closing Price” shall mean the average of the daily closing prices for a share of the Company’s common stock for the twenty (20) trading days preceding the Change of Control Date
on the NASDAQ Stock Market, or, if the common stock is not listed on the NASDAQ Stock Market, on the principal United States securities exchange (an “Exchange”) registered under the Securities Exchange Act of 1934, as amended, on which the
common stock is listed, or, if the common stock is not listed on any Exchange, the average of the daily closing bid quotations with respect to a share of the common stock for such twenty (20) trading days on the over-the-counter stock market on
which the common stock is quoted. 
 (b) Award. “Award” shall have the meaning ascribed to such term in the Performance
Share Plan. 
 (c) Award Period. “Award Period” shall have the meaning ascribed to such term in the Performance Share Plan.

  

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 (d) Beneficial Owner. For purposes of this Agreement, “Beneficial Owner” shall have the
meaning ascribed to such term in Rule 13d 3 of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 
 (e) Change of Control. For the purposes of this Agreement, a “Change of Control” shall mean: 
 (i) any Person (other than those Persons in control of the Company as of the date of this Agreement, or other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company, or a
corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company) becomes the Beneficial Owner, directly or indirectly, of securities of the Company
representing twenty percent (20%) or more of the combined voting power of the Company’s then outstanding securities; or 
 (ii) upon the consummation of any merger, consolidation, or similar transaction or a purchase of securities pursuant to which (x) the members of the Board of Directors of the Company immediately prior to such transaction do not,
immediately after the transaction, constitute a majority of the Board of Directors of the surviving entity or (y) the stockholders of the Company immediately preceding the transaction do not, immediately after the transaction, own at least 50%
of the combined voting power of the outstanding securities of the surviving entity; or 
 (iii) a sale, lease, exchange or
other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company. 
 (f)
Change of Control Price. “Change of Control Price” shall have the meaning ascribed to such term in the Performance Share Plan. 
 (g) Performance Share. “Performance Share” shall have the meaning ascribed to such term in the Performance Share Plan. 
 (h) Performance Share Plan. “Performance Share Plan” means that certain Third Amendment and Restatement of the Alabama National BanCorporation Performance Share Plan, as such Plan has been and may be further amended from
time to time. 
 (i) Person. “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange
Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d). 
 (j) Potential Change
of Control. For the purposes of this Agreement, a “Potential Change of Control” shall be deemed to have occurred if: 
 (i) the Company enters into an agreement, the consummation of which would result in the occurrence of a Change of Control; 
 (ii) any Person publicly announces an intention to take or to consider taking actions which, if consummated, would constitute a Change of Control; 
 (iii) any Person (other than those Persons in control of the Company as of the date of this Agreement, or other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company, or a
corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company) hereafter becomes the Beneficial Owner, directly or indirectly, of securities of the
Company representing greater than 10% of the combined voting power of the Company’s then outstanding securities (determined by taking into account as though converted or exercised any securities convertible into voting securities or any options
exercisable for voting securities, but only to the extent such convertible securities or options are beneficially owned or held by such Person); 
 (iv) any Person files soliciting materials intended to result in a change in the composition of the Board of Directors of the Company; or 
  

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 (v) the Board of Directors of the Company adopts a resolution to the effect that, for
purposes of this Agreement, a Potential Change of Control has occurred. 
 Section 3. Events upon Change of Control.

 (a) Employment Period. Subject to Section 6 of this Agreement, the Company agrees to continue the Executive in its employ,
and the Executive agrees to remain in the employ of the Company, for the period (the “Employment Period”) commencing on the Change of Control Date and ending on the second anniversary of the Change of Control Date. 
 (b) Vesting and Related Rights. Notwithstanding anything to the contrary in this Agreement, in any other agreement between the Executive and the
Company or in any Company plan or elsewhere: 
 (i) upon the Change of Control Date, all of the Executive’s options to
purchase common stock or other securities of the Company shall immediately become exercisable in full, and such options may thereafter be exercised, in whole or in part, until the expiration of the applicable option term; if the Executive dies
within such period, any unexercised option held by the Executive shall thereafter be exercisable, in whole or in part, for the remainder of such period. All other terms and conditions with respect to such options, including the price, term and
treatment upon termination of employment, shall continue to be governed by the applicable Company plan(s) and stock option agreement(s) between the Executive and the Company, as such may be amended from time to time; and 
 (ii) the Executive shall be deemed to have earned Performance Shares with respect to each of his Awards outstanding at the Change of
Control Date. The number of Performance Shares so earned shall be computed by determining (based on the conditions set by the Compensation Committee of the Company’s Board for payment of Awards for the subject Award Period) the number of
Performance Shares that would have been paid if each subject Award Period had ended on the December 31st immediately preceding the Change of Control Date; provided that in no event shall the number of Performance Shares earned be less than the
aggregate number of Performance Shares at the target performance level (as identified in the applicable award letter) with respect to all such Awards. Thus, in the event of a Change of Control, the minimum Performance Shares to be awarded shall be
equal to the aggregate number of Performance Shares that would have been awarded at the end of the Award Period(s) if the target performance level(s) applicable thereto had been met. Performance Share Awards granted in the year of the Change of
Control shall be earned at the same percentage as Awards granted in the year preceding the year of the Change of Control. Each Performance Share so earned shall be payable in accordance with Section 21 of the Performance Share Plan. In
addition, upon the cash payment provided for in the preceding sentence, the Company agrees to pay a cash bonus to the Executive in an amount equal to the aggregate amount of the federal and state income taxes that will be incurred by the Executive,
based on the highest marginal income tax rates, as a result of (A) the cash payment provided for in the preceding sentence and (B) the cash bonus made pursuant to this sentence. 
 Section 4. Position and Duties. 
 (a) No Reduction in Position. During the Employment Period, the Executive’s position (including titles), authority and responsibilities shall be at least commensurate with those held, exercised and assigned immediately prior to
the public announcement of the transaction constituting the Change of Control. The Executive’s services shall be performed at the location where the Executive was employed immediately preceding the public announcement of the transaction
constituting the Change of Control. 
 (b) Business Time. From and after the Change of Control Date, the Executive agrees to devote
his full attention during normal business hours to the business and affairs of the Company and to perform faithfully and efficiently the responsibilities assigned to him hereunder, to the extent necessary to discharge such responsibilities, except
for periods of vacation, sick leave and other leave to which he is entitled. It is expressly understood and agreed that the Executive’s continuing service on any boards and committees on which he is serving or with which he is otherwise
associated immediately preceding the Change of Control Date shall not be deemed to interfere with the performance of the Executive’s services to the Company. 
  

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 Section 5. Compensation. 
 (a) Base Salary. During the Employment Period, the Executive shall receive a base salary at a monthly rate at least equal to the monthly salary
paid to the Executive by the Company immediately prior to the Change of Control Date. The base salary shall be reviewed at least once each year after the Change of Control Date, and may be increased (but not decreased) at any time and from time to
time by action of the Board of Directors or any committee thereof or any individual having authority to take such action in accordance with the Company’s regular practices. The Executive’s base salary, as it may be increased from time to
time, shall hereafter be referred to as “Base Salary”. Neither the Base Salary nor any increase in Base Salary after the Change of Control Date shall serve to limit or reduce any other obligation of the Company hereunder. 
 (b) Annual Bonus and Incentive Compensation. During the Employment Period, in addition to the Base Salary, for each fiscal year of the Company
ending during the Employment Period, the Executive shall be entitled to receive: 
 (i) an annual bonus which is at least
equal to the greater of (A) the highest annual bonus, including without limitation any bonus provided under the Company’s Annual Incentive Plan, that had been payable to the Executive in respect of either of the last two fiscal years ended
immediately prior to the Change of Control Date or (B) the amount that would have been payable to the Executive as a target bonus for the year in which the Change of Control occurs under the Company’s Annual Incentive Plan; and 

(ii) long term incentive compensation opportunities (including but not limited to Performance Share Awards) on terms and conditions no
less favorable to the Executive than those applicable to the Executive prior to the Change of Control Date. 
 Any amount payable hereunder as an annual
bonus shall be paid as soon as practicable following the year for which the amount is payable, unless electively deferred by the Executive pursuant to any deferral programs or arrangements that the Company may make available to the Executive.

 (c) Benefit Plans. During the Employment Period, the Executive (and, to the extent applicable, his dependents) shall be entitled to
participate in or be covered under all pension, retirement, deferred compensation, savings, medical, dental, health, disability, group life, accidental death and travel accident insurance plans at a level that is commensurate with the
Executive’s participation in such plans immediately prior to the Change of Control Date, or, if more favorable to the Executive, at the level made available to the Executive or other similarly situated officers at any time thereafter. The
Executive shall also be entitled to receive such perquisites as were generally provided to the Executive in accordance with the Company’s policies and practices immediately prior to the Change of Control Date. 
 (d) Expenses. During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred
by the Executive in accordance with the policies and procedures of the Company as in effect immediately prior to the Change of Control Date. Notwithstanding the foregoing, the Company may apply the policies and procedures in effect after the Change
of Control Date to the Executive, if such policies and procedures are more favorable to the Executive than those in effect immediately prior to the Change of Control Date. 
 (e) Indemnification. During and after the Employment Period, the Company shall indemnify the Executive and hold the Executive harmless from and
against any claim, loss or cause of action arising from or out of the Executive’s performance as an officer, director or employee of the Company or any of its subsidiaries or in any other capacity, including any fiduciary capacity, in which the
Executive serves at the request of the Company to the maximum extent permitted by applicable law and the Company’s Certificate of Incorporation and By Laws (the “Governing Documents”); provided, however, that in no event shall the
protection afforded to the Executive hereunder be less than that afforded under the Governing Documents as in effect immediately prior to the Change of Control Date. 
  

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 Section 6. Termination. 
 (a) Death, Disability or Retirement. This Agreement shall terminate automatically upon the Executive’s death, termination due to
“Disability” (as defined below) or voluntary retirement under any of the Company’s retirement plans as in effect from time to time. For purposes of this Agreement, Disability shall mean the Executive’s inability to perform the
duties of his position, as determined in accordance with the policies and procedures applicable with respect to the Company’s long term disability plan, as in effect immediately prior to the Change of Control Date. 
 (b) Voluntary Termination. Notwithstanding anything in this Agreement to the contrary, following a Change of Control the Executive may, upon not
less than 10 days’ written notice to the Company, voluntarily terminate his employment for any reason (including early retirement under the terms of any of the Company’s retirement plans as in effect from time to time); provided, however,
that any termination by the Executive pursuant to Section 6(d) on account of Good Reason (as defined therein) shall not be treated as a voluntary termination under this Section 6(b). 
 (c) Cause. The Company may terminate the Executive’s employment for Cause. For purposes of this Agreement, “Cause” means:

 (i) the Executive’s conviction or plea of nolo contendere to a felony; 
 (ii) an act or acts of extreme dishonesty or gross misconduct on the Executive’s part which result or are intended to result in
material damage to the Company’s business or reputation; or 
 (iii) repeated material violations by the Executive of his
obligations under Section 4 of this Agreement, which violations are demonstrably willful and deliberate on the Executive’s part and which result in material damage to the Company’s business or reputation. 
 (d) Good Reason. Following the occurrence of a Change of Control, the Executive may terminate his employment for Good Reason. For purposes of this
Agreement, “Good Reason” means the occurrence of any of the following, without the express written consent of the Executive, after the occurrence of a Change of Control: 
 (i) (A) the assignment to the Executive of any duties inconsistent in any material adverse respect with the Executive’s position,
authority or responsibilities as contemplated by Section 4 of this Agreement, or (B) any other material adverse change in such position, including titles, authority or responsibilities; 
 (ii) any failure by the Company to comply with any of the provisions of Section 5 of this Agreement, other than an insubstantial or
inadvertent failure remedied by the Company promptly after receipt of notice thereof given by the Executive; 
 (iii) the
Company’s requiring the Executive to be based, or to perform a substantial potion of his duties with the Company, at any office or location more than 20 miles from that location at which he performed his services specified under the provisions
of Section 4 immediately prior to the Change of Control Date, except for travel reasonably required in the performance of the Executive’s responsibilities; or 
 (iv) any failure by the Company to obtain the assumption and agreement to perform this Agreement by a successor as contemplated by
Section 11(b). 
 In no event shall the mere occurrence of a Change of Control, absent any further impact on the Executive, be deemed to
constitute Good Reason. 
 (e) Notice of Termination. Any termination by the Company for Cause or by the Executive for Good Reason
shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 12(e). For purposes of this Agreement, a “Notice of Termination” means a written notice given, in the case of a termination for
Cause, within 10 business days of the Company’s having actual knowledge of the events giving rise 

  

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to such termination, and in the case of a termination for Good Reason, within 180 days of the Executive’s having actual knowledge of the events giving
rise to such termination, and which (i) indicates the specific termination provision in this Agreement relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the
Executive’s employment under the provision so indicated, and (iii) if the termination date is other than the date of receipt of such notice, specifies the termination date of this Agreement (which date shall be not more than 15 days after
the giving of such notice). The failure by the Executive to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason shall not waive any right of the Executive hereunder or preclude the Executive
from asserting such fact or circumstance in enforcing his rights hereunder. 
 (f) Date of Termination. For the purpose of this
Agreement, the term “Date of Termination” means (i) in the case of a termination for which a Notice of Termination is required, the date of receipt of such Notice of Termination or, if later, the date specified therein, as the case
may be, and (ii) in all other cases, the actual date on which the Executive’s employment terminates during the Employment Period. 
 Section 7. Obligations of the Company upon Termination. 
 (a) Death or Disability. If the Executive’s
employment is terminated during the Employment Period by reason of the Executive’s death or Disability, this Agreement shall terminate without further obligations to the Executive or the Executive’s legal representatives under this
Agreement other than those obligations accrued hereunder at the Date of Termination, and the Company shall pay to the Executive (or his beneficiary or estate): 
 (i) the Executive’s full Base Salary through the Date of Termination (the “Earned Salary”), 
 (ii) any vested amounts or benefits owing to the Executive under the Company’s otherwise applicable employee benefit plans and
programs, including any compensation previously deferred by the Executive (together with any accrued earnings thereon) and not yet paid by the Company and any accrued vacation pay not yet paid by the Company (the “Accrued Obligations”),
and 
 (iii) any other benefits payable due to the Executive’s death or Disability under the Company’s plans,
policies or programs (the “Additional Benefits”). 
 Any Earned Salary shall be paid in cash in a single lump sum as soon as practicable, but in no
event more than 10 business days (or at such earlier date required by law), following the Date of Termination. Accrued Obligations and Additional Benefits shall be paid in accordance with the terms of the applicable plan, program or arrangement.

 (b) Cause and Voluntary Termination. If, during the Employment Period, the Executive’s employment shall be terminated for
Cause or voluntarily terminated by the Executive (other than on account of Good Reason following a Change of Control) in accordance with Section 6(b), the Company shall pay the Executive (i) the Earned Salary in cash in a single lump sum
as soon as practicable, but in no event more than 10 days, following the Date of Termination, and (ii) the Accrued Obligations in accordance with the terms of the applicable plan, program or arrangement. 
 (c) Termination by the Executive for Good Reason and Termination by the Company other than for Cause. 
 (i) Lump Sum Payments. If (X) the Company terminates the Executive’s employment other than for Cause during the
Employment Period or (Y) the Executive terminates his employment for Good Reason at any time during the Employment Period, then the Company shall pay to the Executive the following amounts: 
 (A) the Executive’s Earned Salary; 
 (B) a cash amount (the “Severance Amount”) equal to three (3) times the sum of (1) the Executive’s annual Base Salary; (2) the greater of (X) the average of the bonus amount payable
(including any amounts payable under the Annual Incentive Plan) to the Executive for the three fiscal years of the Company immediately preceding the Change of Control Date or (Y) the 

  

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average of the bonus amount payable (including any amount payable under the Annual Incentive Plan) to the Executive for the three fiscal years of the Company
ending immediately prior to the Date of Termination; and (3) an amount determined by multiplying (i) the aggregate number of Performance Shares, as designated in the award letter issued in the calendar year in which the Change of Control
occurs, to be awarded to the Executive at the target performance level, and (ii) the Average Closing Price; and 
 (C)
the Accrued Obligations. 
 The Earned Salary and Severance Amount shall be paid in cash in a single lump sum as soon as practicable, but in
no event more than 10 business days (or at such earlier date required by law), following the Date of Termination. Accrued Obligations shall be paid in accordance with the terms of the applicable plan, program or arrangement. 
 (ii) Continuation of Benefits. In the event the Executive is entitled to receive the Severance Amount described in
Section 7(c)(i), the Executive (and, to the extent applicable, his dependents) shall be entitled, after the Date of Termination until the earlier of (1) the second anniversary of the Date of Termination (the “End Date”) or
(2) the date the Executive becomes eligible for comparable benefits under a similar plan, policy or program of a subsequent employer, to continue participation in all of the Company’s employee welfare benefit plans including, without
limitation, the Company’s hospital, medical, accident, disability and life insurance plans (the “Benefit Plans”) as were generally provided to the Executive in accordance with the Company’s policies and practices immediately
prior to the Change of Control Date. To the extent any such benefits cannot be provided under the terms of the applicable plan, policy or program, the Company shall provide a comparable benefit under another plan or from the Company’s general
assets. The Executive’s participation in the Benefit Plans will be on the same terms and conditions that would have applied had the Executive continued to be employed by the Company through the End Date. 
 (d) Discharge of the Company’s Obligations. Except as expressly provided in the last sentence of this Section 7(d), the amounts payable
to the Executive pursuant to this Section 7 (whether or not reduced pursuant to Section 7(e)) following termination of his employment shall be in full and complete satisfaction of the Executive’s rights under this Agreement and any
other claims he may have in respect of his employment by the Company or any of its subsidiaries. Such amounts shall constitute liquidated damages with respect to any and all such rights and claims and, upon the Executive’s receipt of such
amounts, the Company shall be released and discharged from any and all liability to the Executive in connection with this Agreement or otherwise in connection with the Executive’s employment with the Company and its subsidiaries. Nothing in
this Section 7(d) shall be construed to release the Company from its commitment to indemnify the Executive and hold the Executive harmless from and against any claim, loss or cause of action arising from or out of the Executive’s
performance as an officer, director or employee of the Company or any of its subsidiaries or in any other capacity, including any fiduciary capacity, in which the Executive served at the request of the Company to the maximum extent permitted by
applicable law and the Governing Documents. 
 (e) Certain Further Payments by the Company. 
 (i) In the event that any amount or benefit paid or distributed to the Executive pursuant to this Agreement, taken together with any
amounts or benefits otherwise paid or distributed to the Executive by the Company or any affiliated company including, without limitation, any distribution or payment made pursuant to the terms of the Company’s compensation plans or
arrangements (collectively, the “Covered Payments”), are or become subject to the tax (the “Excise Tax”) imposed under Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”), or any similar tax
that may hereafter be imposed, the Company shall pay to the Executive at the time specified in Section 7(e)(v) below an additional amount (the “Tax Reimbursement Payment”) such that the net amount retained by the Executive with
respect to such Covered Payments, after deduction of any Excise Tax on the Covered Payments and any Federal, state and local income or employment tax and Excise Tax on the Tax Reimbursement Payment provided for by this Section 7(e), but before
deduction for any Federal, state or local income or employment tax withholding on such Covered Payments, shall be equal to the amount of the Covered Payments. 
  

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 (ii) For purposes of determining whether any of the Covered Payments will be subject to the Excise Tax
and the amount of such Excise Tax, (A) such Covered Payments will be treated as “parachute payments” within the meaning of Section 280G of the Code, and all “parachute payments” in excess of the “base amount”
(as defined under Section 280G(b)(3) of the Code) shall be treated as subject to the Excise Tax, unless, and except to the extent that, in the good faith judgment of the Company’s independent certified public accountants appointed prior to
the Change of Control Date or tax counsel selected by such Accountants (the “Accountants”), the Company has a reasonable basis to conclude that such Covered Payments (in whole or in part) either do not constitute “parachute
payments” or represent reasonable compensation for personal services actually rendered (within the meaning of Section 280G(b)(4)(B) of the Code) in excess of the “base amount,” or such “parachute payments” are otherwise
not subject to such Excise Tax, and (B) the value of any non cash benefits or any deferred payment or benefit shall be determined by the Accountants in accordance with the principles of Section 280G of the Code. 
 (iii) For purposes of determining the amount of the Tax Reimbursement Payment, the Executive shall be deemed to pay: 
 (A) Federal income taxes at the highest applicable marginal rate of Federal income taxation for the calendar year in which the Tax
Reimbursement Payment is to be made, and 
 (B) any applicable state and local income taxes at the highest applicable marginal
rate of taxation for the calendar year in which the Tax Reimbursement Payment is to be made, net of the maximum reduction in Federal income taxes which could be obtained from the deduction of such state or local taxes if paid in such year.

 (iv) In the event that the Excise Tax is subsequently determined by the Accountants or pursuant to any proceeding or negotiations with the
Internal Revenue Service to be less than the amount taken into account hereunder in calculating the Tax Reimbursement Payment made, the Executive shall repay to the Company, at the time that the amount of such reduction in the Excise Tax is finally
determined, the portion of such prior Tax Reimbursement Payment that would not have been paid if such Excise Tax had been applied in initially calculating such Tax Reimbursement Payment, plus interest on the amount of such repayment at the rate
provided in Section 1274(b)(2)(B) of the Code. Notwithstanding the foregoing, in the event any portion of the Tax Reimbursement Payment to be refunded to the Company has been paid to any Federal, state or local tax authority, repayment thereof
shall not be required until actual refund or credit of such portion has been made to the Executive, and interest payable to the Company shall not exceed interest received or credited to the Executive by such tax authority for the period it held such
portion. The Executive and the Company shall mutually agree upon the course of action to be pursued (and the method of allocating the expenses thereof) if the Executive’s good faith claim for refund or credit is denied. 
 In the event that the Excise Tax is later determined by the Accountants or pursuant to any proceeding or negotiations with the Internal Revenue Service to exceed the
amount taken into account hereunder at the time the Tax Reimbursement Payment is made (including, but not limited to, by reason of any payment the existence or amount of which cannot be determined at the time of the Tax Reimbursement Payment), the
Company shall make an additional Tax Reimbursement Payment in respect of such excess (plus any interest or penalty payable with respect to such excess) at the time that the amount of such excess is finally determined. 
 (v) The Tax Reimbursement Payment (or portion thereof) provided for in Section 7(e)(i) above shall be paid to the Executive not later than 10
business days following the payment of the Covered Payments; provided, however, that if the amount of such Tax Reimbursement Payment (or portion thereof) cannot be finally determined on or before the date on which payment is due, the Company shall
pay to the Executive by such date an amount estimated in good faith by the Accountants to be the minimum amount of such Tax Reimbursement Payment and shall pay the remainder of such Tax Reimbursement Payment (together with interest at the rate
provided in Section 1274(b)(2)(B) of the Code) as soon as the amount thereof can be determined, but in no event later than 45 calendar days after payment of the related Covered Payment. In the event that the amount of the estimated Tax
Reimbursement Payment exceeds the amount subsequently determined to have been due, such excess shall constitute a loan by the Company to the 

  

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Executive, payable on the fifth business day after written demand by the Company for payment (together with interest at the rate provided in
Section 1274(b)(2)(B) of the Code). 
 Section 8. Non-Exclusivity of Rights. Except as expressly provided herein,
nothing in this Agreement shall prevent or limit the Executive’s continuing or future participation in any benefit, bonus, incentive or other plan or program provided by the Company or any of its affiliated companies and for which the Executive
may qualify, nor shall anything herein limit or otherwise prejudice such rights as the Executive may have under any other agreements with the Company or any of its affiliated companies. Amounts which are vested benefits or which the Executive is
otherwise entitled to receive under any plan or program of the Company or any of its affiliated companies at or subsequent to the Date of Termination shall be payable in accordance with such plan or program. 
 Section 9. Full Settlement. The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform
its obligations hereunder shall not be affected by any circumstances, including, without limitation, any set off, counterclaim, recoupment, defense or other right which the Company may have against the Executive or others whether by reason of the
subsequent employment of the Executive or otherwise. 
 Section 10. Legal Fees and Expenses. If the Executive asserts any
claim in any contest (whether initiated by the Executive or by the Company) as to the validity, enforceability or interpretation of any provision of this Agreement, the Company shall pay the Executive’s legal expenses (or cause such expenses to
be paid) including, without limitation, his reasonable attorney’s fees, on a quarterly basis, upon presentation of proof of such expenses; provided, however, that the Executive shall reimburse the Company for such amounts, plus simple interest
thereon at the 90 day United States Treasury Bill rate as in effect from time to time, compounded annually, if the Executive shall not prevail, in whole or in part, as to any material issue as to the validity, enforceability or interpretation of any
provision of this Agreement. 
 Section 11. Successors. 
 (a) This Agreement is personal to the Executive and, without the prior written consent of the Company, shall not be assignable by the Executive otherwise
than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives. 
 (b) This Agreement shall inure to the benefit of and be binding upon the Company and its successors. The Company shall require any successor to all or substantially all of the business and/or assets of the Company,
whether direct or indirect, by purchase, merger, consolidation, acquisition of stock or otherwise, by an agreement in form and substance satisfactory to the Executive, expressly to assume and agree to perform this Agreement in the same manner and to
the same extent as the Company would be required to perform if no such succession had taken place. 
 Section 12.
Miscellaneous. 
 (a) Applicable Law. This Agreement shall be governed by and construed and conferred in accordance with the
laws of the State of Delaware (and, as applicable, Title 9 of the U.S. Code) applied without reference to principles of conflict of laws. 
 (b) Arbitration. Any dispute or controversy arising under or in connection with this Agreement shall be resolved by binding arbitration. The arbitration shall be held at a site selected by the arbitrators and except to the extent
inconsistent with this Agreement, shall be conducted in accordance with the Expedited Employment Arbitration Rules of the American Arbitration Association then in effect at the time of the arbitration, and otherwise in accordance with principles
which would be applied by a court of law or equity. The arbitrator shall be acceptable to both the Company and the Executive. If the parties cannot agree on an acceptable arbitrator, the dispute shall be heard by a panel of three arbitrators, one
appointed by each of the parties and the third appointed by the other two arbitrators. 
 (c) Amendments. This Agreement may be
amended or modified by the Board of Directors at any time prior to a Change in Control; provided, however, that subsequent to the occurrence of a Potential Change in Control, this Agreement may not be amended or modified otherwise than by a written
agreement executed by the parties hereto or their respective successors and legal representatives. Notwithstanding the foregoing sentence, in 

  

 9 

 
the event that subsequent to the occurrence of a Potential Change in Control (i) the Board of Directors makes a good faith determination that the events
giving rise to a Potential Change in Control will not result in the occurrence of a Change in Control or (ii) an actual Change in Control has not occurred after the first anniversary of the occurrence of a Potential Change in Control (or any
Potential Change in Control events occurring after the initial Potential Change in Control), the foregoing limitation on the amendment or modification of this Agreement shall cease to apply unless and until it thereafter again becomes effective by
reason of the occurrence of another Potential Change in Control or any actual Change in Control. 
 (d) Notices. All notices and other
communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

			
	 If to the Executive:
	  	at the home address of the Executive noted
		  	on the records of the Company
		
	 If to the Company:
	  	Alabama National BanCorporation
		  	1927 First Avenue North
		  	Birmingham, Alabama 35203
		  	Attn.: Chairman of the Board of Directors
		
		  	With a copy to:
		
		  	Mark L. Drew
		  	Maynard, Cooper & Gale, P.C.
		  	1901 Sixth Avenue North
		  	2400 AmSouth/Harbert Plaza
		  	Birmingham, Alabama 35203

 or to such other address as either party shall have furnished to the other in writing in accordance herewith.
Notice and communications shall be effective when actually received by the addressee. 
 (e) Entire Agreement. Upon the Change of
Control Date, unless otherwise provided herein, this Agreement shall constitute the entire agreement between the parties hereto with respect to the matters referred to herein. There are no promises, representations, inducements or statements between
the parties other than those that are expressly contained herein. In the event any provision of this Agreement is invalid or unenforceable, the validity and enforceability of the remaining provisions hereof shall not be affected. The Executive
acknowledges that he is entering into this Agreement of his own free will and accord, and with no duress, that he has read this Agreement and that he understands it and its legal consequences. 
 [signature page follows] 
  

 10 

 IN WITNESS WHEREOF, the Executive has hereunto set his hand and the Company has caused this
Agreement to be executed in its name on its behalf, and its corporate seal to be hereunto affixed and attested by its Secretary, all as of the day and year first above written. 
  

			
	ALABAMA NATIONAL BANCORPORATION
		
	By:	 	 /s/ John H. Holcomb, III

	Name:	 	John H. Holcomb, III
	Title:	 	Chairman and Chief Executive Officer

  

			
	EXECUTIVE
		
	Signature:	 	 /s/ James R. Thompson, III

	Name:	 	James R. Thompson, III
	Title:	 	Chief Executive Officer of
		 	First American Bank

  

 11

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