Document:

exhibit_10.htm

  

  

  

	  	  	
Exhibit 10.1

 

INDEMNIFICATION AGREEMENT

 

          This Indemnification Agreement (this "Agreement") is made as of July16, 2012, by and between Sovran Self Storage, Inc., a Maryland corporation (the "Corporation"), Sovran Acquisition Limited Partnership, a Delaware limited partnership (the "Operating Partnership" and, collectively with the Corporation, the "Indemnitors"), and Stephen R. Rusmisel, a director of the Corporation ("Director").

RECITALS

          WHEREAS, candidates highly qualified for service on the boards of directors of publicly-held corporations have become increasingly reluctant to serve in that capacity or in other related capacities unless they are provided with strong protection through indemnification and insurance against the substantial and escalating risks of, and potential liability from, claims and actions arising out of their service to and activities on behalf of such corporations, which risks, absent such adequate protection, would far outweigh the compensation and other benefits to such persons of serving as directors;

          WHEREAS, although the Board of Directors of the Corporation (the "Board") has determined that, in order to attract and retain such persons to serve on the Board, the Corporation will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving on the Board and in other related capacities from certain liabilities, the Board recognizes that such insurance may be available to it in the future only at higher premiums and with more exclusions from its coverage, which reduces the value of such insurance to directors and increases the importance of indemnification by the Corporation to protect directors against such liabilities;

          WHEREAS, it is essential for the Corporation to be able to attract and retain the most capable persons available to serve on the Board, and the uncertainties relating to such insurance and indemnification has increased the difficulty of attracting and retaining such persons;

          WHEREAS, the Corporation indirectly controls the Operating Partnership (through its ownership of the general partner of the Operating Partnership (the "General Partner")) and conducts substantially all of its business through the Operating Partnership, such that the Operating Partnership would benefit from the Corporation's ability to attract and retain the most qualified persons to serve on its Board of Directors;

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          WHEREAS, in order to induce the most qualified persons to serve and continue to serve as directors of the Corporation, the Indemnitors desire to provide directors with specific contractual assurance of their rights to full indemnification against litigation risks and expenses associated with their service as a director of the Corporation and in other related capacities regardless of, among other things, any amendment to or revocation of the Corporation's charter or Bylaws or any change in the ownership of the Corporation or in the composition of the Board;

          WHEREAS, the Indemnitors intend that this Agreement will provide Director with greater protection than that which is provided by the Corporation's charter and Bylaws, the Agreement of Limited Partnership of the Operating Partnership and that this Agreement shall supplement and be in furtherance of the By-laws of the Corporation and any resolutions adopted pursuant thereto as well as the Agreement of Limited Partnership of the Operating Partnership, shall not be deemed a substitute therefor, and shall not diminish or abrogate any rights of Director thereunder;

          WHEREAS, Director is relying upon the rights afforded under this Agreement in deciding to begin serving or continue to serve as a director of the Corporation; and

          NOW, THEREFORE, in consideration of the premises and covenants contained herein, and in order to induce Director to serve as or to continue to serve as a director of the Corporation and in consideration of Director's so serving, the Indemnitors and Director do hereby covenant and agree as follows:

          Section 1.  Services to the Corporation.  Director agrees to continue to serve as a director of the Corporation and may serve as a director, officer, employee, agent or fiduciary of one or more Covered Entities (as defined below).  Director may at any time and for any reason resign from any such position (subject to any other contractual obligation or any obligation imposed by operation of law), in which event the Corporation shall have no obligation under this Agreement to continue Director in any such position.  This Agreement shall not be deemed an employment contract between Director and the Corporation (or any Covered Entity).  The foregoing notwithstanding, this Agreement shall continue in force after Director has ceased to serve as a director of the Corporation or otherwise ceased to have Corporate Status (as defined below).

          Section 2.  Definitions.  As used in this Agreement:

                    (a)  A "Change in Control" shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the following events:

                              (i)  Acquisition of Stock by Third Party.  Unless explicitly approved by the Incumbent Board (as defined below), any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Corporation representing 20% or more of the combined voting power of the Corporation's then outstanding securities;

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                              (ii)  Change in Board of Directors.  A change in the composition of the Board of Directors of the Corporation such that the individuals who, as of the date hereof, constitute the Board of Directors of the Corporation (such Board of Directors shall be hereinafter referred to as the "Incumbent Board") cease for any reason to constitute at least a majority of the Board of Directors of the Corporation; provided, however, for purposes of this clause (ii), any individual who becomes a member of the Board of Directors of the Corporation subsequent to the date hereof whose election, or nomination for election by the Corporation's shareholders, was approved by a vote of at least a majority of those individuals who are members of the Board of Directors of the Corporation and who were also members of the Incumbent Board (or deemed to be such pursuant to this provision) shall be considered as though such individual were a member of the Incumbent Board; but, provided, further, that any such individual whose initial assumption of office occurs as a result of an actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board of Directors of the Corporation shall not be so considered as a member of the Incumbent Board; or

                              (iii)  Corporation Transactions.  The effective date of a merger or consolidation of the Corporation with any other entity, other than a merger or consolidation which would result in the voting securities of the Corporation outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 60% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

                              (iv)  Liquidation.  Unless the liquidation is explicitly approved by the Incumbent Board, the approval by the shareholders of the Corporation of a complete liquidation of the Corporation, or a plan therefor, or an agreement for the sale or disposition by the Corporation of all or substantially all of the Corporation's assets; and

                              (v)  Other Events.  Unless the event is explicitly approved by the Incumbent Board, there occurs any event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Exchange Act, as hereinafter defined, regardless of whether the Corporation is then subject to such reporting requirement.

          Solely for purposes of this Section 2(a), the following terms shall have the following meanings:

 

                              (A)  "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended.

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                              (B)  "Person" shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act and, for greater clarity, shall include, without limitation, any entity or "group" within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act; provided, however, that Person shall exclude (i) the Corporation, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Corporation, and (iii) any corporation owned, directly or indirectly, by the shareholders of the Corporation in substantially the same proportions as their ownership of stock of the Corporation.

                              (C)  "Beneficial Owner" shall have the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason of the shareholders of the Corporation approving a merger, consolidation or other business combination of the Corporation with another entity.

                    (b)  "Corporate Status" describes the status of a person who is or was a director, officer, employee, agent or fiduciary of the Corporation or any Covered Entity.

                    (c)  "Covered Entity" shall mean the Corporation, the Operating Partnership, the General Partner and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other entity or enterprise (as well as any domestic or foreign predecessor entity of each such entity in a merger, consolidation or other transaction) of which Director is, was or may be deemed to be serving at the request of the Corporation as a director, officer, employee, partner (limited or general), trustee, agent or fiduciary.  References to "serving at the request of the Corporation" shall include any service as a director, officer, employee, partner (limited or general), trustee, agent or fiduciary of a Covered Entity which imposes duties on, or involves services by, such director, officer, employee, partner (limited or general), trustee, agent or fiduciary with respect to an employee benefit plan, its participants or beneficiaries.

                    (d)  "Disinterested Director" means a director of the Corporation who is not and was not a party to the Proceeding in respect of which indemnification is sought by Director.

                    (e)  "Disqualifying Conduct" means (A) the act or omission of Director was material to the matter giving rise to the Proceeding and (1) was committed in bad faith or (2) was the result of active and deliberate dishonesty, (B) Director actually received an improper personal benefit in money, property or services, or (C) in the case of any criminal Proceeding, Director had reason to believe that his conduct was unlawful.

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                    (f)  "Expenses" shall include all reasonable attorneys' fees, retainers, court and arbitration costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, scanning and data processing charges, electronic legal research and other database charges, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding.  Expenses also shall include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including the premium, security for, and other costs relating to any cost bond, supersede as bond, or other appeal bond or its equivalent, and (ii) for purposes of Section 12(d) only, Expenses incurred by Director in connection with the interpretation, enforcement or defense of Director's rights under this Agreement, by litigation or otherwise.  Expenses, however, shall not include amounts paid in settlement by Director or the amount of judgments or fines (including any excise tax assessed with respect to any employee benefit plan) against Director.

                    (g)  "Independent Counsel" means a law firm, or a member of a law firm, that is experienced in matters of corporation law and that neither presently is, nor in the past five years has been, retained to represent any of the following:  (i) the Indemnitors or Director in any matter material to either such party (other than with respect to matters concerning Director under this Agreement, or of other Directors under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder.  Notwithstanding the foregoing, the term "Independent Counsel" shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Indemnitors or Director in an action to determine Director's rights under this Agreement.  The Indemnitors agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

                    (h)  "Losses" means Expenses, judgments, costs, fines (including any excise tax assessed with respect to any employee benefit plan) and amounts paid in settlement actually incurred by Director (net of any related insurance proceeds or other indemnification payments received by Director or paid on Director's behalf as described in Section 7(a)).

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                    (i)  "Proceeding" shall include any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Corporation or otherwise and whether of a civil, criminal, administrative or investigative nature, in which Director was, is or may be involved as a party or otherwise by reason of Director's Corporate Status or by reason of any action taken by him or of any action or omission on his part in connection with Director's Corporate Status, in each case regardless of whether Director retains Corporate Status at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses can be provided under this Agreement.  However, a "Proceeding" does not include an action, suit or proceeding initiated by Director to enforce his rights under this Agreement.

          Section 3.  Indemnification.  The Indemnitors shall indemnify Director and hold Director harmless against any and all Losses in connection with any present or future threatened, pending or completed Proceeding, regardless of whether such Proceeding is by or in the right of the Corporation, based upon arising from, relating to, or by reason of Director's Corporate Status; provided, that no indemnification pursuant to this Section 3 may be made to Director or on Director's behalf with respect to any Proceeding if a final judgment or other final adjudication adverse to Director establishes that Director engaged in Disqualifying Conduct with respect to such Proceeding.

          Section 4.  Indemnification for Expenses of a Party Who is Wholly or Partly Successful.  Notwithstanding any other provisions of this Agreement, to the fullest extent permitted by applicable law and to the extent that Director is a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in the defense of any claim, issue or matter therein, in whole or in part, the Indemnitors shall indemnify Director against all Expenses actually and reasonably incurred by him in connection therewith.  If Director is not wholly successful in such Proceeding, the Indemnitors also shall indemnify Director against all Expenses reasonably incurred in connection with each successfully resolved claim, issue or matter and each claim, issue or matter related to each successfully resolved claim, issue, or matter.  For purposes of this Section 4 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

          Section 5.  Indemnification For Expenses of a Witness.  Notwithstanding any other provision of this Agreement, to the fullest extent permitted by applicable law and to the extent that Director is, by reason of his Corporate Status, a witness in any Proceeding to which Director is not a party, he shall be indemnified by the Indemnitors against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith.

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          Section 6.  Additional Indemnification.

                    (a)  Notwithstanding any limitation in Sections 3 or 4, the Corporation shall indemnify Director to the fullest extent permitted by applicable law if Director is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Corporation to procure a judgment in its favor) against all Losses of Director in connection with the Proceeding.

                    (b)  For purposes of this Agreement, the meaning of the phrase "to the fullest extent permitted by applicable law" shall include the following:

                              (i)  with respect to the Corporation:

                                        (A)  to the fullest extent permitted by the provisions of Maryland law that authorize, permit or contemplate additional indemnification by agreement, or the corresponding provisions of any amendment to or replacement of such provisions of Maryland law; and

                                        (B)  to the fullest extent authorized or permitted by any amendments to or replacements of such provisions of Maryland law adopted after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors.

                              (ii)  with respect to the Operating Partnership:

                                        (A)  to the fullest extent permitted by the provisions of Delaware law that authorize, permit or contemplate additional indemnification by agreement, or the corresponding provisions of any amendment to or replacement of such provisions of Delaware law; and

                                        (B)  to the fullest extent authorized or permitted by any amendments to or replacements of such provisions of Delaware law adopted after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors.

          Section 7.  Exclusions.  Notwithstanding any provision in this Agreement, neither of the Indemnitors shall be obligated under this Agreement to make any indemnity or advance in connection with any claim made against Director: 

                    (a)  for which payment has actually been made to or for the account of Director under any insurance policy, other indemnity provision, contract or agreement, except with respect to any excess beyond the amount paid to Director under any insurance policy, other indemnity provision, contract or agreement;

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                    (b)  for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Director of securities of the Corporation that did, in fact, violate Section 16(b) of the Exchange Act or (ii) any reimbursement of the Corporation by Director of any bonus or other incentive-based or equity-based compensation or of any profits realized by Director from the sale of securities of the Corporation, as required in each case under the Exchange Act;

                    (c)  except as otherwise provided in Section 12(d) of this Agreement, in connection with any Proceeding (or any part of any Proceeding) initiated by Director, including any Proceeding (or any part of any Proceeding) initiated by Director against the Corporation or its directors, officers or employees, unless (i) the Board of Directors of the Corporation authorized the Proceeding (or any part of any Proceeding) prior to its initiation, or (ii) the Corporation provides the indemnification, in its sole discretion, pursuant to the powers vested in the Corporation under applicable law; or

                    (d)  in the event that the Indemnitors are advised, in a written opinion of their regular outside legal counsel, that their performance of any provision of this Agreement would violate Section 13(k) of the Exchange Act, then the parties agree to revise and replace such provision in a manner that will result in a new provision that does not violate such provision and the legal effect of which comes as close as possible to what the parties had intended to achieve with the original provision.

          Section 8.  Advances of Expenses.  Notwithstanding any provision of this Agreement to the contrary, the Indemnitors shall advance, to the extent not prohibited by law, the Expenses incurred by Director (or reasonably expected to be incurred by Director during the six months following any such request) in connection with any Proceeding, and such advancement shall be made within 30 days after the receipt by the Indemnitors of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding.  Advances shall be unsecured and interest free.  Advances shall be made without regard to Director's ability to repay the amounts advanced and without regard to Director's ultimate entitlement to indemnification under the other provisions of this Agreement.  Advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Indemnitors to support the advances claimed.  The Director shall qualify for advances from the Operating Partnership upon the execution and delivery to the Indemnitors of this Agreement, which shall constitute an undertaking providing that Director undertakes to repay the advance to the extent that it is ultimately determined that Director is not entitled to be indemnified by the Operating Partnership.  To qualify for advances from the Corporation, Director must execute and deliver to the Corporation (a) a written undertaking providing that Director undertakes to repay the advance to the Corporation to the extent that it is ultimately determined that Director is not entitled to be indemnified by the Corporation and (b) a written affirmation by Director of Director's good faith belief that the standard of conduct necessary for indemnification by the Corporation as authorized by Maryland law and this Agreement has been met.  This Section 8 shall not apply to any claim made by Director for which indemnity is excluded pursuant to Section 7.

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          Section 9.  Procedure for Notification and Defense of Claim.

                     (a)  Director shall notify the Indemnitors in writing of any matter with respect to which Director intends to seek indemnification or advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Director of written notice thereof.  The written notification to the Indemnitors shall include a description of the nature of the Proceeding and the facts underlying the Proceeding.  To obtain indemnification under this Agreement, Director shall submit to the Indemnitors a request, including therein or therewith such documentation and information as is reasonably available to Director and is reasonably necessary to determine whether and to what extent Director is entitled to indemnification following the final disposition of such action, suit or proceeding.  The omission by Director to notify the Indemnitors hereunder will not relieve the Indemnitors from any liability which they may have to Director hereunder or otherwise than under this Agreement, and any delay in so notifying the Indemnitors shall not constitute a waiver by Director of any rights under this Agreement.  The Secretary of the Corporation shall, promptly upon receipt of such a request for indemnification, advise the Board and the General Partner in writing that Director has requested indemnification.

                    (b)  Each of the Indemnitors will be entitled to participate in the Proceeding at its own expense.

          Section 10.  Procedure Upon Application for Indemnification.

                    (a)  Upon written request by Director for indemnification pursuant to the first sentence of Section 9(a), a determination, if required by applicable law or this Agreement, with respect to Director's entitlement thereto shall be made in the specific case:

                              (i)  if a Change in Control shall have occurred, by Independent Counsel selected in accordance with Section 10(b) in a written opinion to the Board, a copy of which shall be delivered to Director; or

                              (ii)  if a Change in Control shall not have occurred, in the following manner:

                                        (A)  by the Board acting by majority vote of  a quorum of Disinterested Directors; or

                                        (B)  if such a quorum is not obtainable or, even if obtainable, a quorum of Disinterested Directors, acting by majority vote, so directs, (x) by the Board upon the opinion in writing of Independent Counsel selected in accordance with Section 10(b), or (y) by the shareholders of the Corporation.

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If it is so determined that Director is entitled to indemnification, payment to Director shall be made within ten days after such determination.  Director shall cooperate with the person, persons or entity making such determination with respect to Director's entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information that is not privileged or otherwise protected from disclosure and that is reasonably available to Director and reasonably necessary to such determination.  Any costs or expenses (including attorneys' fees and disbursements) incurred by Director in so cooperating with the person, persons or entity making such determination shall be borne by the Indemnitors (irrespective of the determination as to Director's entitlement to indemnification) and the Indemnitors hereby indemnifies and agrees to hold Director harmless therefrom.

 

                    (b)  In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(a) hereof, the Independent Counsel shall be selected as provided in this Section 10(b).  If a Change in Control shall not have occurred, the Independent Counsel shall be selected by the Board, and the Corporation shall give written notice to Director advising him of the identity of the Independent Counsel so selected.  If a Change in Control shall have occurred, the Independent Counsel shall be selected by Director (unless Director shall request that such selection be made by the Board, in which event the preceding sentence shall apply), and Director shall give written notice to the Corporation advising it of the identity of the Independent Counsel so selected.  In either event, Director or the Corporation, as the case may be, may, within ten days after such written notice of selection shall have been given, deliver to the Corporation or to Director, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of "Independent Counsel" as defined in Section 2, and the objection shall set forth with particularity the factual basis of such assertion.  Absent a proper and timely objection, the person so selected shall act as Independent Counsel.  If such written objection is so made, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court or an arbitrator has determined that such objection is without merit.  If, within 20 days after the later of submission by Director of a written request for indemnification pursuant to Section 10(a) hereof and the final disposition of the Proceeding, no Independent Counsel shall have been selected and not objected to, either the Corporation or Director may petition a court of competent jurisdiction or commence an arbitration before a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association for resolution of any objection that shall have been made by the Corporation or Director to the other's selection of Independent Counsel or for the appointment as Independent Counsel of a person selected by such court or arbitrator or by such other person as such court or arbitrator shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 10(a) hereof.  Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 12(a), Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

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          Section 11.  Presumptions and Effect of Certain Proceedings.

                    (a)  In making a determination with respect to entitlement to indemnification hereunder, the person or entity making such determination shall, to the fullest extent permitted by law, presume that Director is entitled to indemnification under this Agreement if Director has submitted a request for indemnification in accordance with Section 9(a), and the Indemnitors shall, to the fullest extent permitted by law, have the burden of proof, by clear and convincing evidence, to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption.  Neither the failure of the Corporation (including by its directors or Independent Counsel) to have made a determination prior to the commencement of any action or arbitration pursuant to this Agreement that indemnification is proper in the circumstances because indemnification of Director is not barred pursuant to the provisions of this Agreement or otherwise, nor an actual determination by the Corporation (including by its directors or Independent Counsel) that indemnification of Director is barred pursuant to the provisions of this Agreement or otherwise, shall be a defense to such action or arbitration or create a presumption that Director is not entitled to indemnification.  The termination of any Proceeding or any claim, issue or matter therein by judgment, settlement, conviction or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that Director engaged in Disqualifying Conduct.

                    (b)  Subject to Section 12(e), if the person, persons or entity empowered or selected under Section 10 to determine whether Director is entitled to indemnification shall not have made a determination within 60 days (or 30 days if the request was for an advance) after receipt by the Indemnitors of the request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent permitted by law, be deemed to have been made and Director shall be entitled to such indemnification, absent (i) a misstatement by Director of a material fact, or an omission of a material fact necessary to make Director's statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional 30 days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation or information relating thereto; and provided, further, that the foregoing provisions of this Section 11(b) shall not apply (i) if the determination of entitlement to indemnification is to be made by the shareholders pursuant to Section 10(a) and if (A) within 15 days after receipt by the Indemnitors of the request for such determination the Board of Directors has resolved to submit such determination to the shareholders for their consideration at an annual meeting thereof to be held within 75 days after such receipt and such determination is made thereat, or (B) a special meeting of shareholders is called within 15 days after such receipt for the purpose of making such determination, such meeting is held for such purpose within 60 days after having been so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(a). 

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                    (c)  For purposes of any determination of whether Director acted in bad faith, Director shall be deemed to have acted in good faith if Director acted in reliance on the records or books of account of a Covered Entity, including financial statements, or on information supplied to Director by the officers of a Covered Entity in the course of their duties, or on the advice of legal counsel for the Covered Entity or on information or records given or reports made to the Covered Entity by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Covered Entity.  The provisions of this Section 11(c) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Director may be deemed to be entitled to indemnification.

                    (d)  A person who acted in good faith and in a manner he reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed not to have acted in "bad faith" as referred to in this Agreement.

                    (e)  The knowledge or actions, or failure to act, of any director, officer, agent or employee of the Covered Entity shall not be imputed to Director for purposes of determining the right to indemnification under this Agreement.

          Section 12.  Remedies of Director.

                    (a)  Subject to Section 12(c), in the event that (i) a determination is made pursuant to Section 10 that Director is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10(a) within 90 days (or 30 days if the request was for an advance) after receipt by the Indemnitors of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 4 or 5 or the last sentence of Section 10(a)  within ten days after receipt by the Indemnitors of a written request therefor, or (v) payment of indemnification pursuant to Section 3 or 6 is not made within ten days after a determination has been made that Director is entitled to indemnification, Director shall be entitled to an adjudication by a court of his entitlement to such indemnification or advancement of Expenses.  Alternatively, Director, at his option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association.  Director shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Director first has the right to commence such proceeding pursuant to this Section 12(a); provided, however, that the foregoing clause shall not apply in respect of a proceeding brought by Director to enforce his rights under Section 5.  The Indemnitors shall not oppose Director's right to seek any such adjudication or award in arbitration.

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                    (b)  In the event that a determination shall have been made pursuant to Section 10(a) that Director is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 12 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and Director shall not be prejudiced by reason of that adverse determination.  In any judicial proceeding or arbitration commenced pursuant to this Section 12 the Indemnitors shall have the burden of proving by clear and convincing evidence that Director is not entitled to indemnification or advancement of Expenses, as the case may be.

                    (c)  If a determination shall have been made pursuant to Section 10(a) that Director is entitled to indemnification, the Indemnitors shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12, absent (i) a misstatement by Director of a material fact, or an omission of a material fact necessary to make Director's statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

                    (d)  The Indemnitors shall, to the fullest extent permitted by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 12 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Indemnitors are bound by all the provisions of this Agreement.  It is the intent of the Indemnitors that Director not be required to incur legal fees or other Expenses associated with the interpretation, enforcement or defense of Director's rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to Director hereunder.  The Indemnitors shall indemnify Director against any and all Expenses and, if requested by Director, shall (within 10 days after receipt by the Indemnitors of a written request therefor) advance, to the extent not prohibited by law, such expenses to Director, which are incurred by Director in connection with any action brought by Director for indemnification or advance of Expenses from the Indemnitors under this Agreement or under any directors' and officers' liability insurance policies maintained by the Indemnitors, regardless of whether Director ultimately is determined to be entitled to such indemnification, advancement of Expenses or insurance recovery, as the case may be.

                    (e)  Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding, whether by settlement or otherwise.

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                    (f)  During the interval between the Indemnitors' receipt of Director's request for indemnification and the later to occur of (a) payment in full to Director of such indemnification, or (b) a final determination (if required) pursuant to Sections 10 and 11 that Director is not entitled to indemnification, the Indemnitors shall protect Director against loss which, for purposes of this Agreement, shall mean the taking of the necessary steps (regardless of whether such steps require expenditures to be made by the Indemnitors at that time) to stay, pending a final determination of Director's entitlement to indemnification (and, if Director is so entitled, the payment thereof), the execution, enforcement or collection of any judgments, penalties, fines (including any excise tax assessed with respect to any employee benefit plan) or any other amounts for which Director may be liable in order to avoid his being or becoming in default with respect to any such amounts (such necessary steps to include, but not be limited to, the procurement of a surety bond to achieve such stay), within five business days after receipt of Director's written request therefor, together with a written undertaking by Director to repay, no later than 60 days following receipt of a statement therefor from the Indemnitors, amounts (if any) expended by the Indemnitors for such purpose, if it is ultimately determined (if such

determination is required) pursuant to Sections 10 and 11 that Director is not entitled to be indemnified against such judgments, penalties, fines (including any excise tax assessed with respect to any employee benefit plan) or other amounts.

          Section 13.  Non-exclusivity; Survival of Rights; Insurance; Subrogation.

                    (a)  The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Director may at any time be entitled under applicable law, the Corporation's charter, the Corporation's By-laws, the Agreement of Limited Partnership of the Operating Partnership, the organizational and governing documents of any Covered Entity, any agreement, a vote of shareholders or a resolution of directors, or otherwise.  No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Director under this Agreement in respect of any action taken or omitted by such Director in his Corporate Status prior to such amendment, alteration or repeal.  To the extent that a change in Maryland law or Delaware law, as applicable, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Corporation's charter and By-laws, the Agreement of Limited Partnership of the Operating Partnership and this Agreement, as applicable, it is the intent of the parties hereto that Director shall enjoy by this Agreement the greater benefits so afforded by such change.  No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

- 14 -

  

  

  

                    (b)  To the extent that either of the Indemnitors maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or agents of such Indemnitor or of any other Covered Entity, Director shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer, employee or agent under such policy or policies.  If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, either of the Indemnitors has director and officer liability insurance in effect, such Indemnitor shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies.  Such Indemnitor shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Director, all amounts payable as a result of such proceeding in accordance with the terms of such policies.

                    (c)  In the event of any payment under this Agreement, the Indemnitors shall be subrogated to the extent of such payment to all of the rights of recovery of Director, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Indemnitors to bring suit to enforce such rights.

          Section 14.  Contribution.  To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Director for any reason whatsoever, then the Indemnitors, in lieu of indemnifying Director, shall contribute to the Losses incurred by Director in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (a) the relative benefits received by the Covered Entities (and their directors, officers, employees and agents other than Director), on one hand, and Director, on the other hand, as a result of the events or transactions giving cause to such Proceeding, or (b) if the allocation described in clause (a) above is not permitted by applicable law, the relative fault of the Covered Entities (and their directors, officers, employees and agents other than Director), on one hand, and Director, on the other hand, in connection with such events or transactions.  The relative fault of the Covered Entities (and their directors, officers, employees and agents other than Director), on one hand, and Director, on the other hand, in connection with the events or transactions giving cause to such Proceeding shall be determined by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary, and the degree to which their conduct is active or passive.  The relative benefits received by the Covered Entities (and their directors, officers, employees and agents other than Director), on one hand, and Director, on the other hand, in connection with the events or transactions giving cause to such Proceeding shall be limited to direct and indirect financial benefits actually derived by the applicable person, his designees or his intended beneficiaries from the action or inaction in connection with the events or transactions giving cause to such Proceeding, and shall not include any non-financial benefits or any benefits that were not actually received by the applicable person, his designees or his intended beneficiaries.

- 15 -

  

  

  

          Section 15.  Joint and Several Obligations.  The obligations of the Corporation and the Operating Partnership under this Agreement shall be joint and several.

          Section 16.  Retroactive Effect; Binding Agreement.

                    (a)  All agreements and obligations of the Indemnitors contained herein shall commence upon the date that Director first became a director of the Corporation, shall continue during the period of Director's Corporate Status and shall continue thereafter so long as Director shall be subject to any possible Proceeding by reason of Director's Corporate Status.  In this regard, the provisions contained herein are intended to be retroactive and the full benefits hereof shall be available in respect of any alleged or actual occurrences, acts or failures to act that occurred prior to the date hereof.

                   (b)  This Agreement shall be binding upon the Indemnitors and their respective successors and assigns.  The Corporation shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporation or the Operating Partnership, by agreement in form and substance reasonably satisfactory to Director, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Indemnitors would be required to perform if no such succession had taken place.  To the extent that either of the Indemnitors maintains one or more insurance policies providing liability insurance for the directors and officers of the Corporation, upon any Change of Control, such Indemnitor shall use commercially reasonable efforts to obtain or arrange for continuation or "tail" coverage for Director to the maximum extent obtainable at such time.

                    (c)  This Agreement shall inure to the benefit of and be enforceable by Director's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.  Without limiting the generality of the preceding sentence, if Director should die while any amounts would still be payable to him hereunder if he had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to Director's devisee, legatee, or other designee, or if there be no such designee, to his estate.

- 16 -

  

  

  

          Section 17.  Severability; Invalidity.  If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever (i) the validity, legality and enforceability of the remaining provisions of this Agreement (including each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law, (ii) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto, and (iii) to the fullest extent possible, the provisions of this Agreement (including each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

          Section 18.  Entire Agreement.

                    (a)  Each of the Indemnitors expressly confirm and agree that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Director to continue to serve as a director of the Corporation, and each of the Indemnitors acknowledges that Director is relying upon this Agreement in serving as a director of the Corporation and having Corporate Status with respect to any Covered Entity.

                    (b)  This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the charter of the Corporation, the By-laws of the Corporation, the Agreement of Limited Partnership of the Operating Partnership and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Director thereunder.

          Section 19.  Modification and Waiver.  No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the parties thereto.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

          Section 20.  Notice by Director.  Director agrees promptly to notify the Indemnitors in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder.  The failure of Director to so notify the Indemnitors shall not relieve the Indemnitors of any obligation which it may have to Director under this Agreement or otherwise.

- 17 -

  

  

  

          Section 21.  Notices.  All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed, (c) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed or (d) sent by facsimile transmission, with receipt of oral confirmation that such transmission has been received:

                    (i)  If to Director, at the address or fax number indicated on the signature page of this Agreement, or such other address as Director shall provide to the Indemnitors; and

                    (ii)  If to the Indemnitors, at the address or fax number for each Indemnitor indicated on the signature page of this Agreement, or at such other address or fax number as may have been furnished to Director by such Indemnitor.

          Section 22.  Applicable Law and Consent to Jurisdiction.  This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Maryland, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Director pursuant to Section 10(b), the Corporation, the Operating Partnership and Director hereby irrevocably and unconditionally (a) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the courts of the State of Maryland (the "Designated Court"), and not in any other state or federal court in the United States of America or any court in any other country, (b) consent to submit to the exclusive jurisdiction of the Designated Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (c) waive any objection to the laying of venue of any such action or proceeding in the Designated Court, and (d) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Designated Court has been brought in an improper or inconvenient forum.

          Section 23.  Identical Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.  Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

- 18 -

  

  

  

          Section 24.  Miscellaneous.  Use of the masculine pronoun shall be deemed to include usage of the feminine or neuter pronoun where appropriate.  Use of the plural nouns shall be deemed to include usage of the singular form of such noun where appropriate.  Whenever the words "include," "includes" or "including" are used in this Agreement, they shall be deemed to be followed by the words "without limitation."  Unless otherwise indicated, references in this Agreement to any "Section" shall be deemed to refer to the indicated Section of this Agreement.  The headings set forth in this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

[SIGNATURE PAGE FOLLOWS]

- 19 -

  

  

  

          IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year first above written.

	
SOVRAN SELF STORAGE, INC.

 

 

By:        /s/  Robert J. Attea            

Name:  Robert J. Attea

Title:    Executive Chairman of the Board

	
 

	
 

Address:

	
 

6467 Main Street

Buffalo, NY  14221

	  
	
 

Fax Number:

	
 

(716) 633-3397

	  
	  	  
	  	  
	
SOVRAN ACQUISITION LIMITED PARTNERSHIP

BY:     SOVRAN HOLDINGS, INC, its general partner

 

 

By:        /s/  Robert J. Attea              

Name:  Robert J. Attea

Title:    Executive Chairman of the Board

	
 

	
 

Address:

	
 

6467 Main Street

Buffalo, NY  14221

	  
	
 

Fax Number:

	
 

(716) 633-3397

	  
	  	  
	  	  
	
DIRECTOR

 

 

  /s/  Stephen R. Rusmisel              

Name:  Stephen R. Rusmisel

	  
	
 

Address:

	
 

345 Burnt Mills Road

Bedminster, NJ 07921

	  
	
 

Fax Number:

	
 

(908) 722-3867

	  
	  	  

[SIGNATURE PAGE TO INDEMNIFICATION AGREEMENT]

- 20 -Exhibit 10.1

First Horizon National Corporation 

Savings Restoration Plan

Effective January 1, 2013

Contents

	
  

 
	
 Article 1. The
 Plan

 
	
 1.1 Purpose of Plan

 
	
 1.2 Applicability of Plan

 
	
  

 
	
 Article 2.
 Definitions

 
	
 2.1 Account

 
	
 2.2 Affiliate

 
	
 2.3 Beneficiary

 
	
 2.4 Board

 
	
 2.5 Change in Control

 
	
 2.6 Code

 
	
 2.7 Committee

 
	
 2.8 Company

 
	
 2.9 Compensation

 
	
 2.10 Employee

 
	
 2.11 Employer

 
	
 2.12 ERISA

 
	
 2.13 Investment Funds

 
	
 2.14 Participant

 
	
 2.15 Plan

 
	
 2.16 Plan Year

 
	
 2.17 Savings Plan

 
	
 2.18 Separation from Service

 
	
 2.19 Valuation Date

 
	
  

 
	
 Article 3.
 Participation

 
	
 3.1 Eligibility

 
	
 3.2 Duration

 
	
  

 
	
 Article 4.
 Benefits

 
	
 4.1 Separation Benefits

 
	
 4.2 Death Benefits

 
	
 4.3 Change in Control

 
	
 4.4 Permissible Delays or
 Accelerations

 
	
 4.5 Payment to Minors or Persons
 Under Legal Disability

 
	
 4.6 Inability to Locate
 Participant or Beneficiary

 
	
  

 
	
 Article 5.
 Financing

 
	
 5.1 Financing

 
	
 5.2 Unsecured Interest

 
	
  

 
	
 Article 6.
 Administration

 
	
 6.1 Administration

 
	
 6.2 Appeals from Denial of Claims

 
	
 6.3 Tax Withholding

 
	
 6.4 Expenses

 
	
  

 
	
 Article 7.
 Adoption of the Plan by Affiliate; Amendment and Termination of the Plan

 
	
 7.1 Adoption of the Plan by
 Affiliate

 
	
 7.2 Amendment and Termination

 
	
 7.3 Successors

 
	
  

 
	
 Article 8.
 Miscellaneous Provisions

 
	
 8.1 No Contract of Employment

 
	
 8.2 Nonalienation of Benefits

 
	
 8.3 Severability

 
	
 8.4 Applicable Law

 

Article 1. The Plan

1.1 Purpose of Plan

The Plan is intended to provide a form of deferred compensation, based
on compensation that is not limited pursuant to Code section 401(a)(17). 

The Plan is intended to be a plan maintained for the purposes of
providing deferred compensation to a “select group of management or highly
compensated employees” within the meaning of section 201(2) of ERISA. The Plan
is also intended to be exempt from the participation, vesting, funding, and
fiduciary requirements of Title I of ERISA.

1.2 Applicability of Plan

This Plan applies only to eligible Employees who are in the active
employ of the Company or a participating Affiliate on or after January 1, 2013.

Article 2. Definitions

Whenever used in the Plan, the following terms shall have the meanings
set forth below unless otherwise expressly provided. When the defined meaning
is intended, the term is capitalized. The definition of any term in the
singular shall also include the plural, whichever is appropriate in the
context.

2.1 Account

“Account” means the record maintained with respect to the amounts
credited to, and other adjustments made to each Participant’s bookkeeping
Account, as more fully provided in the Plan. 

2.2 Affiliate

“Affiliate” means:

	
  

 	
  

 
	
 (a)

 	
 any corporation
 while it is a member of the same “controlled group” of corporations (within
 the meaning of Code section 414(b)) as the Company;

 
	
  

 	
  

 
	
 (b)

 	
 any other trade or
 business (whether or not incorporated) while it is under “common control”
 (within the meaning of Code section 414(c)) with the Company;

 
	
  

 	
  

 
	
 (c)

 	
 any organization
 during any period in which it (along with the Company) is a member of an
 “affiliated service group” (within the meaning of Code section 414(m)); or

 
	
  

 	
  

 
	
 (d)

 	
 any other entity
 during any period in which it is required to be aggregated with the Company
 under Code section 414(o).

 

2.3 Beneficiary

“Beneficiary” means any person (natural or otherwise) designated by a
Participant in writing to receive any death benefits payable under the Plan, or
in the absence of any such designation, the person or entity determined to be
the Participant’s Beneficiary under the Savings Plan.

2.4 Board

“Board” means the Company’s Board of Directors.

2.5 Change in Control

“Change in Control” means the occurrence of any one of the following
events:

	
  

 	
  

 	
  

 
	
 (a)

 	
 the occurrence of
 an acquisition (“Acquisition”) by any individual, entity, or group (“Person”)
 within the meaning of section 13(d)(3) or 14(d)(2) of the Securities Exchange
 Act of 1934, as amended (the “Exchange Act”), of beneficial ownership (within
 the meaning of Rule 13d−3 promulgated under the Exchange Act) of a
 percentage of the combined voting power of the then outstanding voting
 securities of the Company entitled to vote generally in the election of
 directors (“Company Voting Securities”) that is 30 percent or more of the
 Company Voting Securities, but excluding:

 
	
  

 	
  

 	
  

 
	
  

 	
 (1)

 	
 any acquisition
 directly from the Company (other than an acquisition by virtue of the
 exercise of a conversion privilege of a security that was not acquired directly
 from the Company), 

 
	
  

 	
  

 	
  

 
	
  

 	
 (2)

 	
 any acquisition by
 the Company or an Affiliate, and 

 
	
  

 	
  

 	
  

 
	
  

 	
 (3)

 	
 any acquisition by
 an employee benefit plan (or related trust) sponsored or maintained by the
 Company or any Affiliate;

 
	
  

 	
  

 	
  

 
	
 (b)

 	
 during any
 12-month period, a majority of the directors who at the beginning of such
 period constitute the Board are replaced by directors whose appointment or
 election is not endorsed by a majority of the members of the Board before the
 date of the appointment or election;

 
	
  

 	
  

 	
  

 
	
 (c)

 	
 the consummation
 of a merger, consolidation, reorganization, or similar corporate transaction,
 whether or not the Company is the surviving company in such transaction,
 other than a merger, consolidation, or reorganization that would result in
 the Persons who are beneficial owners of the Company Voting Securities
 outstanding immediately prior thereto continuing to beneficially own,
 directly or indirectly, in substantially the same proportions, at least 50
 percent of the combined voting power of the Company Voting Securities (or the
 voting securities of the surviving entity) outstanding immediately after such
 merger, consolidation or reorganization; or

 

	
  

 	
  

 	
  

 
	
 (d)

 	
 the sale or other
 disposition of the assets of the Company during any period of 12 consecutive
 months having a total gross fair market value equal to or more than 40
 percent of the total gross fair market value of the assets of the Company and
 its Affiliates immediately before such sale or disposition.

 

The foregoing definition of “Change in Control” is intended to comply
with the requirements of Code section 409A and Treasury Regulation section
1.409A-3(i)(5), and shall be interpreted and applied by the Committee in a
manner consistent with this intent.

2.6 Code

“Code” means the Internal Revenue Code of 1986, as amended, or as it
may be amended from time to time. A reference to a particular section of the
Code shall also be deemed to refer to regulations and other regulatory guidance
issued under that Code section.

2.7 Committee

“Committee” means the Administration Committee appointed by the Board
to administer the Plan.

2.8 Company

“Company” means First Horizon National Corporation and any successor
thereto.

2.9 Compensation

“Compensation” means that part of the Participant’s regular wages,
salaries, fees for professional service and other regular amounts received for
personal services actually rendered in the course of employment with the
Employer (including, but not limited to, commissions paid salesmen,
compensation for services on the basis of a percentage of profits, commissions
on insurance premiums, and tips), except Compensation does not include bonuses,
reimbursements or other expense allowances, fringe benefits (cash and noncash),
moving expenses and welfare benefits. Compensation also includes Elective
Contributions made by an Employer on the Participant’s behalf under the Savings
Plan. “Elective Contributions” for this purpose are amounts excludible from the
Participant’s gross income under Code sections 125, 402(a)(8), 402(h), 403(b)
or 132(f)(4), and contributed by the Employer at the Participant’s election, to
a Code section 401(k) arrangement, a simplified employee pension, cafeteria
plan, tax sheltered annuity or qualifying transportation fringe benefit plan. 

Compensation shall be determined prior to reduction for any
contribution by the Participant to this Plan or the Savings Plan. 

For those Participants who are paid on a commission basis or production
basis but not employed by the FTN Financial Division of First Tennessee Bank
National Association, by FTN Financial Securities Corporation, by FTN Midwest
Securities Corporation or by First Tennessee Capital Assets Corporation,
Compensation shall consist of that portion of their Compensation that consists
of such commissions or production pay. 

The term “Compensation” does not include:

	
  

 	
  

 
	
 (i)

 	
 Employer
 contributions (other than Elective Contributions to the Savings Plan or
 deferrals elected by the Participant to this Plan or any other nonqualified
 deferred compensation plan) to a plan of deferred compensation to the extent
 the contributions are not included in the gross income of the Employee for
 the taxable year in which contributed, on behalf of an Employee to a
 Simplified Employee Pension Plan to the extent such contributions are excludible
 from the Employee’s gross income, and any distributions from a plan of
 deferred compensation, regardless of whether such amounts are includible in
 the gross income of the Employee when distributed. 

 
	
  

 	
  

 
	
 (ii)

 	
 Amounts realized
 from the exercise of a non qualified stock option, or when restricted stock
 (or property) held by an Employee either becomes freely transferable or is no
 longer subject to a substantial risk of forfeiture.

 
	
  

 	
  

 
	
 (iii)

 	
 Amounts realized
 from the sale, exchange or other disposition of stock acquired under a stock
 option described in Part II, Subchapter D, Chapter 1 of the Code.

 
	
  

 	
  

 
	
 (iv)

 	
 Other amounts
 which receive special tax benefits, such as premiums for group term life
 insurance (but only to the extent that the premiums are not includible in the
 gross income of the Participant), or contributions made by an Employer
 (whether or not under a salary reduction agreement) towards the purchase of
 an annuity contract described in Code section 403(b) (whether or not the
 contributions are excludible from the gross income of the Participant, other
 than “elective contributions.”

 
	
  

 	
  

 
	
 (v)

 	
 Any amount taken
 into account as Eligible Earnings for purposes of calculating matching
 contributions under the Savings Plan.

 

For a Participant’s initial year of participation, Compensation shall
be recognized as of the Participant’s effective date of participation in the
Plan.

An individual receiving a differential wage payment, as defined by Code
§3401(h)(2), is treated as an Employee of the Employer making the payment, (ii)
the differential wage payment is treated as Compensation, and (iii) the Plan is
not treated as failing to meet the requirements of any provision described in
Code §414(u)(1)(C) by reason of any contribution or benefit which is based on
the differential wage payment. The foregoing (iii) applies only if all
employees of the Employer performing service in the uniformed services
described in Code §3401(h)(2)(A) are entitled to receive differential wage
payments (as defined in Code §3401(h)(2)) on reasonably equivalent terms and,
if eligible to participate in a retirement plan maintained by the employer, to
make contributions based on the payments on reasonably equivalent terms (taking
into account Code §§410(b)(3), (4), and (5)).

2.10 Employee

“Employee” means any person who is employed by an Employer.

2.11 Employer

“Employer” means the Company and each Affiliate that has adopted this
Plan for the benefit of its eligible Employees.

2.12 ERISA

“ERISA” means the Employee Retirement Income Security Act of 1974, as
amended, or as it may be amended from time to time. A reference to a particular
section of ERISA shall also be deemed to refer to regulations and other
regulatory guidance issued under that section.

2.13 Investment Funds

“Investment Funds” means the hypothetical investment options made
available to Participants. The Investment Funds shall be determined and
specified by the Committee from time to time, and shall serve as the indices
for adjustments to Participant Accounts as an investment experience equivalent.
Each Investment Fund is for reference only, as a deemed investment index, and
shall not bind the Employer to make or fund any actual investments. If,
however, the Employer chooses to invest funds to provide for its liabilities
under the Plan, the Employer shall retain complete discretion over the
investment of the assets and shall be under no obligation to make any
investment to reflect any Participant’s Investment Fund selections.

2.14 Participant

“Participant” means an Employee who has met, and continues to meet, the
eligibility requirements of section 3.1.

2.15 Plan

“Plan” means this First Horizon National Corporation Savings
Restoration Plan, as amended from time to time.

2.16 Plan Year

“Plan Year” means the calendar year.

2.17 Savings Plan

“Savings Plan” means the First Horizon National Corporation Savings
Plan, as amended from time to time.

2.18 SEC Officer

“SEC Officer” means an Employee who is an officer of the Company within
the meaning of Section 16a-1f of the Securities Exchange Act of 1934.

2.19 Separation from Service

“Separation from Service” means, subject to subsections (a) and (b), an
Employee’s termination from employment with the Company and all Affiliates,
whether by retirement or resignation from or discharge by the Company or an
Affiliate.

	
  

 	
  

 	
  

 
	
 (a)

 	
 A Separation from
 Service shall be deemed to have occurred if an Employee and the Company or
 any Affiliate reasonably anticipate, based on the facts and circumstances,
 that either:

 
	
  

 	
  

 	
  

 
	
  

 	
 (1)

 	
 the Employee will
 not provide any additional services for the Company or an Affiliate after a
 certain date; or 

 
	
  

 	
  

 	
  

 
	
  

 	
 (2)

 	
 the level of bona
 fide services performed by the Employee after a certain date will permanently
 decrease to no more than 20 percent of the average level of bona fide services
 performed by the Employee over the immediately preceding 36 months. 

 
	
  

 	
  

 	
  

 
	
 (b)

 	
 If an Employee is
 absent from employment due to military leave, sick leave, or any other bona
 fide leave of absence authorized by the Company or an Affiliate and there is
 a reasonable expectation that the Employee will return to perform services
 for the Company or an Affiliate, a Separation from Service shall not occur
 until the later of:

 
	
  

 	
  

 	
  

 
	
  

 	
 (1)

 	
 the first date
 immediately following the date that is six months after the first date that
 an Employee was absent from employment; and 

 
	
  

 	
  

 	
  

 
	
  

 	
 (2)

 	
 to the extent the
 Employee retains a right to reemployment with the Company or any Affiliates
 under applicable law or by contract, the date the Employee no longer retains
 a right to reemployment. 

 

If a Participant fails to return to work upon the expiration of any
military leave, sick leave, or other bona fide leave of absence where such
leave is for less than six months, the Separation from Service shall occur as
of the date of the expiration of such leave. 

2.20 Valuation Date

“Valuation Date” means the last day of each Plan Year and such other
date(s) as the Committee shall determine in its sole discretion for the book
valuation of Participant Accounts.

2.21 Year of Service

 “Year of Service” means a Year
of Service for vesting purposes, as determined under the provisions of the
Savings Plan. 

Article 3. Participation

3.1 Eligibility

Any Employee shall become a Participant on the date as of which the
Employee is designated by the Chief Executive Officer of the Company, or in the
case of an SEC Officer is designated by the Compensation Committee of the
Board, as a Participant. An Employee may be designated as a Participant for any
particular future calendar year if the Employee’s annual Compensation for such
future calendar year is expected to exceed the compensation limitation which
will be in effect for such year for purposes of Section 401(a)(17) of the Code.
Participation in the Plan shall be limited to Employees who are members of a “select
group of management or highly compensated employees” within the meaning of
ERISA section 201(2).

3.2 Duration

An Employee who becomes a Participant under section 3.1 shall remain an
active Participant until the earlier of:

	
  

 	
  

 
	
 (a)

 	
 his or her
 Separation from Service; or

 
	
  

 	
  

 
	
 (b)

 	
 the effective date
 for a declaration by the Chief Executive Officer of the Company in the case
 of a Participant who is not an SEC Officer, or by the Compensation Committee
 of the Board in the case of an SEC Officer, that the Employee is no longer
 eligible to participate in the Plan.

 

An individual whose active participation is terminated under this
section shall continue to be an inactive Participant until all benefits to
which he or she is entitled under this Plan have been paid.

Article 4. Benefits

4.1 Separation Benefits

	
  

 	
  

 	
  

 
	
 (a)

 	
 Eligibility. A
 Participant who incurs a Separation from Service shall be eligible for a lump
 sum payment of the Participant’s vested Account balance, payable at the time
 specified in subsection (c). 

 
	
  

 	
  

 	
  

 
	
 (b)

 	
 Participant
 Bookkeeping Accounts. 

 
	
  

 	
  

 	
  

 
	
  

 	
 (1)

 	
 In advance of each
 Plan Year and not later than such date that the Committee may specify, each
 Participant may irrevocably elect in writing, whether on paper or in
 electronic or other form and during such election period as may be acceptable
 to the Committee, to defer into a bookkeeping Account any whole percentage of
 the Compensation which would otherwise be paid to the Participant in the
 following Plan Year. A Participant’s election to defer the receipt of
 Compensation shall be deemed a continuing election for all succeeding Plan
 Years and shall remain in effect for each succeeding Plan Year unless, prior
 to a later Plan Year, in such form and during such period as the Committee
 may specify, the Participant revokes or amends the existing election and, in
 such event, the Participant’s 

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 new election shall
 thereafter remain in effect for each succeeding Plan Year until again revised
 or revoked in accordance with the foregoing with respect to future Plan
 Years. A Participant’s bookkeeping account which reflects the Participant’s
 elective deferral of Compensation which would otherwise have been currently
 payable to the Participant is fully vested at all times.

 
	
  

 	
  

 	
  

 
	
  

 	
 (2)

 	
 For each Plan
 Year, the Company will allocate to the Participant’s bookkeeping Account a
 Matching Contribution equal to one hundred percent (100%) of the
 Participant’s deferred Compensation for the Plan Year under this Plan,
 disregarding for this purpose any amount deferred by the Participant in
 excess of six percent (6%) of the Participant’s Compensation for the Plan
 Year. Any Matching Contribution may be determined, made and allocated as of
 any day in the Plan Year; provided, however, that if the Matching
 Contribution is made on other than an annual basis, any pre-funded Matching
 Contributions for a Plan Year shall be subject to a Plan Year-end true up
 adjustment to provide the amount of Matching Contributions which would be
 made on a full Plan Year contribution basis. A Participant’s Matching
 Contribution Account will only be payable to the Participant if the
 Participant’s Matching Contribution Account has become vested. A
 Participant’s Matching Contribution Account shall become vested as of and
 after the date when the Participant (i) is credited with three (3) Years of
 Service, (ii) attains age sixty five (65) while an Employee, (iii) dies while
 an Employee, or (iv) suffers a condition while an Employee which qualifies
 the Participant for disability benefits under the Social Security Act. If a
 Participant terminates employment with the Company for any reason prior to
 becoming vested in accordance with this paragraph, then notwithstanding any
 other provision of the Plan the Participant’s Matching Contribution Account
 shall be forfeited and shall not be payable to the Participant, any
 Beneficiary, or any other party.

 
	
  

 	
  

 	
  

 
	
  

 	
 (3)

 	
 All amounts
 deferred by a Participant under paragraph (1) of this Section and all
 Matching Contributions credited under paragraph (2) of this Section will be
 credited to the Participant’s bookkeeping Account, within an administratively
 practicable time after the date as of which such deferral or contribution is
 made, as determined by the Committee in its discretion. All amounts credited
 to a Participant’s Account shall thereafter be subject to adjustment for an
 investment experience equivalent amount as of each Valuation Date. In advance
 of a Participant’s first deferrals to the Plan and periodically thereafter at
 such times and under such procedures as the Committee may establish from time
 to time, each Participant shall designate the portion of the Participant’s
 Account which shall be deemed for bookkeeping purposes as being thereafter
 invested in one or more Investment Fund(s). The Participant’s deemed
 investment election shall be considered to remain in effect until the
 effective date of a modified election, again among such Investment Funds, at
 such times, and under such procedures as the Committee may determine. To the
 extent a Participant neglects or refuses to provide a valid or clear election
 for the deemed investment of the Participant’s entire Account, the Committee
 may, in its discretion, hold as if uninvested the portion of the Account for
 which a valid and clear election is lacking, or may instead invest such portion
 in such conservative Investment Fund as it determines in its discretion.

 

	
  

 	
  

 	
  

 
	
  

 	
 (c)

 	
 Account Payment
 Date. Payment of a Participant’s Account shall be made as of the first day of
 the month coinciding with or next following the six-month anniversary of the
 Participant’s Separation from Service, or as soon as is administratively
 practical after that date, but in no event later than the last day permitted
 under Code section 409A for treating a delayed payment as having been made on
 such payment date.

 
	
  

 	
  

 	
  

 
	
  

 	
 (d)

 	
 Form of Payment.
 Each Participant’s Account shall be paid as a cash, lump sum payment.

 

4.2 Death Benefits

The Beneficiary of a Participant shall be eligible to receive a death
benefit if the Participant dies prior to the date as of which the Participant’s
Account is paid to the Participant. The amount of any such death benefit shall
be equal to the unpaid Account balance as of the Valuation Date coinciding with
or next preceding the date of payment to the Beneficiary. The death benefit
shall be paid to the Beneficiary in a single lump sum payment on the first
business day of the second calendar month which begins after the date of the
Participant’s death (“Death Benefit Payment Date”), or as soon as is
administratively practicable after that date, but in no event later than the
last day permitted under Code section 409A for treating a delayed payment as
having been made on such payment date.

4.3 Change in Control

Notwithstanding anything contained in this Plan to the contrary, the
provisions of this section shall govern and supersede any inconsistent terms or
provisions of this Plan in the event of a Change in Control of the Company.

	
  

 	
  

 
	
 (a)

 	
 Notwithstanding
 anything herein to the contrary, the benefits payable under the Plan (both
 benefits that have accrued and vested at the time of a Change in Control and
 those that accrue and vest thereafter) may not be reduced or terminated after
 a Change in Control for any individual who was a participant in the Plan at
 the time of the Change in Control.

 
	
  

 	
  

 
	
 (b)

 	
 In the event that
 the Plan is continued and not terminated following a Change in Control,
 additional amounts may be allocated to a Participant’s Account after a
 distribution made pursuant to this section as a result of continued
 employment with the Employer and continued participation in this Plan. Any
 such Account balance shall be paid to the Participant pursuant to section
 4.1.

 

4.4 Permissible Delays or Accelerations

Payment of a Participant’s Account shall not be delayed or accelerated,
except as provided in this section. If the Company or the Committee determines
that a delay or an acceleration of a Participant’s retirement benefit complies
with the requirements under Code section 409A (including a delay to comply with
Code section 162(m) or an acceleration to pay employment taxes), the Company or
the Committee may either delay or accelerate the payment of a Participant’s
retirement benefit in accordance with the terms of Code section 409A as it
deems advisable in its sole discretion. If any payment is delayed in accordance
with this provision, the Participant shall be entitled to 

receive such delayed payments, as adjusted for interim deemed
investment experience to a reasonably practicable date on or prior to the date
of distribution.

4.5 Payment to Minors or Persons Under Legal
Disability

If any benefit becomes payable to a minor or a person under a legal
disability, payment of such benefit may be made to the conservator or guardian
of the intended recipient appointed by a court of competent jurisdiction or any
other individual or institution maintaining or having custody of the intended
recipient. A release by any such conservator, guardian, individual or
institution shall constitute a legal discharge of any obligation of the Plan,
Company, Employer, Committee or other party to the intended recipient. Any Plan
benefit is earned contingent upon acceptance by the Participant or Beneficiary
of this provision.

4.6 Inability to Locate Participant or
Beneficiary

If a Participant or Beneficiary cannot be located by the Committee
using the Participant’s or Beneficiary’s last known address on file with the
Company, within one (1) year of the Participant’s Separation from Service or
death, all benefits under the Plan are forfeited. It is the sole responsibility
of each Participant and Beneficiary to maintain a current address on file with
the Company.

Article 5. Financing

5.1 Financing

The benefits under this Plan shall be paid out of the general assets of
the Employer, except to the extent they are paid from the assets of a grantor
trust established by an Employer to pay these benefits. Nothing shall require
the Company or any Employer to set aside assets nor to hold any assets in trust
for the benefit of any Participant or Beneficiary. Any funds which the Company
or Employer elects to put into a trust or account or otherwise to set aside for
the payment of expected Plan benefits shall be subject to the claims of the
general creditors of the Employer. Each Participant and Beneficiary has the
status of a general unsecured creditor of the Employer with respect to Plan
benefits.

5.2 Unsecured Interest

No Participant shall have any interest whatsoever in any specific asset
of the Company or any Affiliate. To the extent that any person acquires a right
to receive payment under this Plan, such right shall be no greater than the
right of any unsecured general creditor of the Employer.

Article 6. Administration

6.1 Administration

The Plan shall be administered by the Committee.

The Committee shall have all powers necessary or appropriate to carry
out the provisions of the Plan. It may, from time to time, establish rules for
the administration of the Plan 

and the transaction of the Plan’s business. In its sole discretion, the
Committee may delegate any or all of its responsibilities relative to
administration of the Plan to such officers of the Company as it designates.

The Committee shall have the exclusive right to make any finding of
fact necessary or appropriate for any purpose under the Plan including, but not
limited to, the determination of eligibility for and amount of any benefit.

The Committee shall have the exclusive right to interpret the terms and
provisions of the Plan and to determine any and all questions arising under the
Plan or in connection with its administration, including, without limitation,
the right to remedy or resolve possible ambiguities, inconsistencies, or
omissions by general rule or particular decision, all in its sole and absolute
discretion.

To the extent permitted by law, all findings of fact, determinations,
interpretations, and decisions of the Committee shall be conclusive and binding
upon all persons having or claiming to have any interest or right under the
Plan.

6.2 Appeals from Denial of Claims

If any claim for benefits under the Plan is wholly or partially denied,
the claimant shall be given notice of the denial. This notice shall be given in
writing within a reasonable period of time after receipt of the claim by the
Committee. This period will not exceed 90 days after receipt of the claim,
except that if the Committee determines that special circumstances require an
extension of time, the period may be extended up to an additional 90 days.
Written notice of the extension shall be furnished to the claimant prior to
termination of the initial 90-day period, and it shall indicate the special
circumstances requiring an extension of time and the date by which the benefit
determination is expected.

Notice of any claim denial shall be written in a manner calculated to
be understood by the claimant and shall set forth the following information:

	
  

 	
  

 
	
 (a)

 	
 the specific
 reasons for the denial;

 
	
  

 	
  

 
	
 (b)

 	
 a specific
 reference to the Plan provisions on which the denial is based;

 
	
  

 	
  

 
	
 (c)

 	
 a description of
 any additional material or information necessary for the claimant to perfect
 the claim and an explanation of why this material or information is
 necessary;

 
	
  

 	
  

 
	
 (d)

 	
 an explanation
 that a full and fair review by the Committee of the decision denying the
 claim may be requested by the claimant or an authorized representative by
 filing with the Committee, within 60 days after the notice has been received,
 a written request for review; and

 
	
  

 	
  

 
	
 (e)

 	
 a statement of the
 claimant’s right to bring a civil action under ERISA section 502(a) following
 an adverse decision upon review.

 

If a claimant files a written request for review of a denied claim, the
claimant or his or her authorized representative may request, free of charge,
reasonable access to and copies 

of all documents, records, and other information relevant to the claim
and may submit written comments, documents, records, and other information
relevant to the claim within the 60 day period specified in subsection (d)
above. The notice of claim denial shall include a statement of the claimant’s
rights to review and submit information pursuant to this paragraph.

The review by the Committee shall take into account all comments,
documents, records, and other information submitted by the claimant relating to
the claim without regard to whether such material was submitted or considered
as part of the initial determination. The decision of the Committee upon review
shall be made promptly, and not later than 60 days after the Committee’s
receipt of the request for review. However, if the Committee determines that
special circumstances require an extension of time, this period may be extended
up to an additional 60 days. Written notice of the extension shall be furnished
to the claimant prior to termination of the initial 60 day period, and it shall
indicate the special circumstances requiring an extension of time and the date
by which the decision on review is expected.

If the claim is denied, wholly or in part, the claimant shall be given
a copy of the decision promptly. The decision shall be in writing and shall be
written in a manner calculated to be understood by the claimant. The decision
shall include specific reasons for the denial; specific references to the
pertinent Plan provisions on which the denial is based; a statement that the
claimant may request, free of charge, reasonable access to and copies of all
documents, records, and other information relevant to the claim; and a
statement of the claimant’s right to bring a civil action under ERISA section
502(a).

6.3 Tax Withholding

The Employer may withhold from any payment under this Plan any federal,
state, or local taxes required by law to be withheld with respect to the
payment and any sum the Employer may reasonably estimate as necessary to cover
any taxes for which the Employer may be liable and that may be assessed with
regard to the payment.

6.4 Expenses

All expenses incurred in the administration of the Plan shall be paid
by the Employer.

Article 7. Adoption of the Plan by Affiliate;
Amendment and Termination of the Plan

7.1 Adoption of the Plan by Affiliate

An Affiliate may adopt the Plan by appropriate action of its board of
directors or authorized officers or representatives, subject to the approval of
the Board.

7.2 Amendment and Termination

The Company hereby reserves the right to amend, modify, or terminate
the Plan at any time, and for any reason, by written resolution of the Board.
However, no amendment or termination shall have the effect of reducing or
terminating benefits for any Participant who has become entitled to a vested
benefit under section 4.1.

7.3 Successors

This Plan shall bind any successor of the Company, its assets, or its
businesses (whether direct or indirect, by purchase, merger, consolidation, or
otherwise) in the same manner and to the same extent that the Company would be
obligated under this Plan if no succession had taken place. In the case of any
transaction in which a successor would not be bound by this Plan pursuant to
the preceding sentence or by operation of law, the Company shall require such
successor expressly and unconditionally to assume and agree to perform the
Company’s obligations under this Plan in the same manner and to the same extent
that the Company would be required to perform if no such succession had taken
place. The term “Company,” as used in the Plan, shall mean the Company as
defined in Article 2 and any successor or assignee to the business or assets
that by reason hereof becomes bound by this Plan.

Article 8. Miscellaneous Provisions

8.1 No Contract of Employment

Nothing contained in the Plan shall be construed to give any
Participant the right to be retained in the service of the Company or its
Affiliates or to interfere with the right of the Company or its Affiliates to
discharge a Participant at any time.

8.2 Nonalienation of Benefits

No benefit payable at any time under the Plan shall be subject in any
manner to alienation, sale, transfer, assignment, pledge, attachment or other
legal process, or encumbrances of any kind. Any attempt to alienate, sell,
transfer, assign, pledge, or otherwise encumber any such benefit, whether
currently or hereafter payable, shall be void. Except as otherwise specifically
provided by law, no such benefit shall, in any manner, be liable for or subject
to the debts or liabilities of any Participant or any other person entitled to
such benefit.

8.3 Severability

If any provision of this Plan shall be held illegal or invalid, the
illegality or invalidity shall not affect its remaining parts. The Plan shall
be construed and enforced as if it did not contain the illegal or invalid provision.

8.4 Applicable Law

Except to the extent preempted by applicable federal law, this Plan
shall be governed by and construed in accordance with the laws of the state of
Tennessee.

In Witness Whereof, the authorized officers of the Company have signed
this document and have affixed the corporate seal on__________________, 2012,
effective as of January 1, 2013. 

	
  

 	
  

 	
  

 
	
 First Horizon
 National Corporation

 	
  

 
	
  

 	
  

 	
  

 
	
 By:

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
  

 	
  

 
	
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 Attest:

 	
  

 
	
  

 	
  

 	
  

 
	
 By:

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
  

 	
  

 
	
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