Document:

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                                                                  EXHIBIT 10.16

                        AMENDED AND RESTATED TRUST UNDER
                           UNION PLANTERS CORPORATION
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

         This Amended and Restated Trust Agreement ("Trust Agreement") made
this 31st day of August, 1999, amends and restates that certain Trust Agreement
dated as of May 9, 1995, as previously amended on May 23, 1995 and April 17,
1997, by and between Union Planters Corporation as grantor ("Company") and the
Union Planters Bank, N. A. Trust Department as trustee ("Trustee").

         WHEREAS, Company adopted the Supplemental Executive Retirement Plan
("Plan"), effective February 23, 1995, for selected executive officers of Union
Planters Corporation and its subsidiaries ("Participants"), and such Plan and
Participant Agreements under the Plan are included with this Trust Agreement as
Appendix A;

         WHEREAS, those terms which are defined in the Plan and accompanying
Participant Agreements shall have the same meaning in this trust Agreement as
they do in the Plan and accompanying Participant Agreements;

         WHEREAS, Company has incurred or experts to incur liability under the
terms of such Plan and accompanying Participant Agreements;

         WHEREAS, Company wishes to establish a trust (hereinafter called
"Trust") and to contribute to the Trust assets that shall be held therein,
subject to the claims of Company's creditors in the event of Company's
insolvency, as herein defined, until paid to Participants and their
Beneficiaries in such manner and at such times as specified in the Plan;

         WHEREAS, it is the intention of the parties that this Trust shall
constitute an unfunded arrangement and shall not affect the status of the Plan
as an unfunded plan maintained for the purpose of providing deferred
compensation under Title I of the Employee Retirement Income Security Act of
1914;

         WHEREAS, it is the intention of Company to make Contributions to the
Trust to provide itself with a source of funds to assist it in the meeting of
its liabilities under the Plan;

         NOW, THEREFORE, the Company and Trustee do hereby establish this Trust
and agree that this Trust shall be comprised, held and disposed of as follows:

                                   SECTION 1
                             ESTABLISHMENT OF TRUST

         1.1      The Trust hereby established is irrevocable by Company.

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         1.2      Within sixty (60) days from the establishment of this Trust,
Company shall irrevocably deposit in this Trust the sum necessary to fund the
current aggregate payment obligations to Participants under the Plan. For these
purposes, the current funding obligation shall be that amount required to be
placed on the Company's financial statements in accordance with the provisions
of Generally Accepted Accounting Principles ("GAAP") as a liability for future
payment obligations under the Plan. Furthermore, in its sole discretion,
additional amounts in excess of the current funding obligation may also be
irrevocably deposited by Company in the Trust. Such amounts shall become the
initial principal of the Trust to be held, administered and disposed of by
Trustee as provided in this Trust Agreement.

         Although sums deposited by Company into the Trust may be held in the
form of one or more common, pooled investment funds, for administrative
accounting purposes, subaccounts shall be established under the Trust Agreement
for each Participant ("Participant Subaccounts"). The Trustee shall allocate to
such Participant Subaccounts amounts deposited by Company to the Trust under
the provisions of Sections 1.2, 1.3, and 1.4 of the Trust Agreement. Such
allocations, shall be in the sole discretion of the Trustee and Individual
Participant allocations need not necessarily conform to that amount required to
be placed on the Company's financial statements in accordance with the
provisions of Generally Accepted Accounting Principles ("GAAP") as a liability
for future payment obligations under the Plan. For purposes of such
allocations, Trustee may utilize any information provided by the Company as
deemed relevant, including any annual or more frequent statements prepared by
Company for Participants showing those benefits which have accrued to
Participants.

         1.3      Company shall, within ninety (90) days following the end of
any calendar year during which a Participant is covered under the Plan, make
additional irrevocable deposits of cash or other property to the Trust to
augment the initial principal under the provisions of Section 1.2 of this
Trust. The amount of such additional deposits shall be equal to the additional
amount required to be placed on the Company's financial statements during such
calendar year in accordance with the provisions of Generally Accepted
Accounting Principles ("GAAP") as a liability for future payment obligations
under the Plan. Furthermore, in its sole discretion, amounts in excess of the
additional amount required to be placed on the Company's financial statements
may also be irrevocably deposited by Company in the Trust. Such additional
amounts shall be hold, administered and disposed of by the Trustee as provided
in this Trust Agreement.

         1.4      Upon a Change of Control or Involuntary Termination of
Employment, as defined in Sections 13.4 and 13.5 of this Trust, Company shall
within thirty (30) days following the Change of Control or Involuntary
Termination of Employment, make an additional Irrevocable contribution to the
Trust.

         In the case of a Change of Control, the contribution shall be an
amount that, when combined with previous contributions to the Trust under
Sections 1.2 and 1.3 of this Trust, is sufficient to pay all participants or
Beneficiaries, the benefits to which each Participant or their Beneficiaries
would be entitled pursuant to the terms of the Plan assuming termination of
employment as of the date on which the Change of Control occurred. In the case
of an

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Involuntary Termination of Employment, the contribution shall be an amount
that, when combined with previous contributions to the Trust under Sections 1.2
and 1.3 of this Trust, is sufficient to pay each Participant subject to the
Involuntary Termination of Employment the benefits to which such Participant or
his Beneficiary would be entitled pursuant to the terms of the Plan assuming
termination of employment as of the date on which the Involuntary Termination
of Employment occurred. Furthermore, in its sole discretion, additional amounts
in excess of that required in the case of a Change of Control or Involuntary
Termination of Employment may also be irrevocably deposited by Company in the
Trust.

         The amount to be transferred to the Trust upon a Change in Control
shall include the aggregate amount of all future premiums that are scheduled to
be paid following the Change in Control on any insurance policies which insure
the life of a Participant or a Participant and his spouse pursuant to a split
dollar life insurance program maintained by Company. On or about August 31,
1999, Company has delivered to Trustee a schedule of such future payments,
which shall be considered definitive and binding unless and until Company
presents a revised schedule of future premium payments to Trustee, provided,
however, that if such revised schedule reflects a reduced premium for any
policy year, then such schedule shall not be effective unless it is accompanied
by the written consent of the Participant whose life is insured by the policy
with such reduced premium(s). In addition, the amount to be transferred to the
Trust upon a Change in Control shall include an amount equal to two percent
(2%) of the fair market value of assets of the Trust following the Change in
Control transfer described in this paragraph, such amount representing a good
faith estimate of the future cost of administering the Trust to completion.

         Additional amounts shall subsequently be contributed by the Company to
the Trust with ninety (90) days following the end of each calendar year to
insure that the Trusts assets are sufficient to pay each Participant or
Beneficiary described above the Benefits to which such Participants or their
Beneficiaries would be entitled pursuant to the terms of the Plan. Such
additional amounts shall be hold, administered and disposed of by the Trustee
as provided in this Trust Agreement.

         1.5      The Trust is intended to be a grantor trust, of which Company
is the grantor, within the meaning of Subpart E, Part 1, Subchapter J, Chapter
1, Subtitle A of the Internal Revenue Code of 1986, as amended, and shall be
construed accordingly.

         1.6      The principal of the Trust, and any earnings thereon shall be
held separate and apart from other funds of Company and shall be used
exclusively for the uses and purposes of Participants and general creditors as
herein set forth. Participants and their Beneficiaries shall have no preferred
claim on, or any beneficial ownership interest in, any assets of the Trust. Any
rights created under the Plan and this Trust Agreement shall be mere unsecured
contractual rights of Participants and their Beneficiaries against Company. Any
assets held by the Trust will be subject to the claims of Company's general
creditors under federal and state law in the event of insolvency, as defined in
Section 3.1.

                                   SECTION 2
                PAYMENTS TO PARTICIPANTS AND THEIR BENEFICIARIES

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         2.1      Company shall deliver to Trustee a schedule (the "Payment
Schedule") that: (i), indicates the amounts payable with respect of each
Participant (and his Beneficiaries), (ii) provides a formula or other
instructions acceptable to Trustee for determining the amounts so payable,
(iii) indicates the form in which such amounts are to be paid (as provided for
or available under the Plan), and (iv) provides the time of commencement for
payment of such amounts. Except as otherwise provided herein, Trustee shall
make payments to the Participants and their Beneficiaries in accordance with
such Payment Schedule. The Trustee shall make provision for the reporting and
withholding of any federal, state or local taxes that may be required to be
withheld with respect to the payment of benefits pursuant to the terms of the
Plan and shall pay amounts withheld to the appropriate taxing authorities or
determine that such amounts have been reported, withheld and paid by Company.

         2.2      The entitlement of a Participant or his Beneficiaries to
benefits under the Plan shall be determined by Company or such party as: it
shall designate under the Plan, and any claim for such benefits shall be
considered and reviewed under the procedures set out in the Plan.

         2.3      Company may make payment of benefits directly to Participants
or their Beneficiaries as they become due under the terms of the Plan. Company
shall notify Trustee of its decision to make payment of benefits directly prior
to the time amounts are payable to Participants or their Beneficiaries. In
addition, if the principal of the Trust, and any earnings thereon, are not
sufficient to make payments of benefits in accordance with the terms of the
Plan, Company shall make the balance of each such payment as it falls due.
Trustee shall notify Company where principal and earnings are not sufficient.

                                   SECTION 3
                  TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO
                  TRUST BENEFICIARY WHEN COMPANY IS INSOLVENT

         3.1      Trustee shall cease payment of benefits to Participants and
their Beneficiaries if the Company to insolvent. Company shall be considered
"Insolvent" for purposes of this Trust Agreement if; (i) Company is unable to
pay its debts as they become due, (ii) Company is subject to a pending
proceeding as a debtor under the United States Bankruptcy Code, or (iii)
Company is determined to be insolvent or in receivership by its appropriate
bank regulatory agency.

         3.2      At all times during the continuance of this Trust, as
provided in Section 1.4, the principal and income of the Trust shall be subject
to claims of general creditors of Company under federal and state law as set
forth below.

                  (a)      The Board of Directors and the Chief Executive
         Officer of Company shall have the duty to inform Trustee in writing of
         Company's insolvency. If a person claiming to be a creditor of Company
         alleges in writing to Trustee that Company has become insolvent,
         Trustee shall determine whether Company is insolvent and, pending such
         determination, Trustee shall discontinue payment of benefits to
         Participants or their Beneficiaries.

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                  (b)      Unless Trustee has actual knowledge of Company's
         insolvency, or has received notice from Company or a person claiming
         to be a creditor alleging that company is insolvent, Trustee shall
         have no duty to inquire whether Company is insolvent. Trustee may in
         all events rely on such evidence concerning Company's solvency as may
         be furnished to Trustee and that provides Trustee with a reasonable
         basis for making a determination concerning Company's solvency.

                  (c)      If at any time Trustee has determined that Company
         is insolvent Trustee shall discontinue payments to Participants or
         their Beneficiaries and shall hold the assets of the Trust for the
         benefit of Company's general creditors. Nothing in this Trust
         Agreement shall in any way diminish any rights of Participants or
         their Beneficiaries to pursue their rights as general creditors of
         Company with respect to benefits due under the Plan or otherwise.

                  (d)      Trustee shall resume the payment of benefits to
         Participants or their Beneficiaries in accordance with Section 2 of
         this Trust Agreement only after Trustee has determined that Company is
         not insolvent (or is no longer insolvent).

         3.3      Provided that there are sufficient assets, if Trustee
discontinues the payment of benefits from the Trust pursuant to Section 3.2 and
subsequently resumes such payments, the first payment following such
discontinuance shall include the aggregate amount of all payments due to
Participants or their Beneficiaries under the terms of the Plan for the period
of such discontinuance, less the aggregate amount of any payments made to
Participants or their Beneficiaries by Company in lieu of the payments provided
under during any such period of discontinuance.

                                   SECTION 4
                      REVERSION OF TRUST ASSETS TO COMPANY

         4.1      The Trust is irrevocable and the Company shall have no right
or power to direct Trustee to return to Company or to divert to others any of
the Trust assets before all payment of benefits have been made to Participants
and their Beneficiaries pursuant to the terms of the Plan.

                                   SECTION 5
                              INVESTMENT AUTHORITY

         5.1      The duties, powers, and responsibilities of the Trustee shall
be limited as specifically set forth in this Section 6 and as otherwise limited
in this Trust Agreement. The Trustee's powers shall include the following.

                  (a)      The power to invest only in United States Treasury
         Department Securities (or, where necessary) Money Market Mutual Funds
         which are invested solely in United States Treasury Department
         Securities or obligations), hereinafter referred to as "Treasury
         Securities." All rights associated with such Treasury Securities,
         including any voting

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         rights and dividend rights, shall be exercised by Trustee or the
         person designated by Trustee, and shall in no event be exercisable by
         or rest with Participants.

                  (b)      The power to hold, manage and control the Treasury
         Securities hold in trust, to invest and reinvest the same, in such
         manner as the Trustee deems to be reasonably sound. Company shall
         establish an investment policy for Trustee which shall state Trust
         asset investment and reinvestment policy. The Trustee shall not be
         held responsible for any loss incurred through an investment error
         made in good faith, but shall be liable only for the Trustee's willful
         misconduct.

                  (c)      The power to take and hold title to Treasury
         Securities in the name of the Trustee or a nominee of the Trustee
         without disclosing the name or existence of the Trust.

                  (d)      The power to give general and special powers of
         attorney with or without rights of substitution, and generally to
         exercise any powers of an owner with regard to investment of the Trust
         assets.

                  (e)      The power to sue or defend in any suit or legal
         proceeding by or against the Trust. The Trustee shall have full power
         in the Trustee's discretion to compound, compromise, and adjust all
         claims and demand in favor of or against the Trust upon such terms and
         conditions as the Trustee deemed appropriate; provided, however, that
         the Trustee shall be indemnified by the Company for all expenses and
         liabilities in connection with any such proceedings.

                  (f)      The power to employ such agents, attorneys in fact,
         experts, and investment and legal counsel, and to delegate
         discretionary powers to or rely upon information or advice furnished
         by any such persons.

                  (g)      The power to do all acts, whether or not expressly
         authorized, which may be necessary or proper for the protection of the
         assets of the Trust, or for carrying out any duty imposed hereunder.

         5.2      Notwithstanding any powers granted to the Trustee, pursuant
to this Trust Agreement or to applicable law, the Trustee shall not have any
power that could give this Trust the objective of carrying on a lousiness and
dividing the gains therefrom, within the meaning of Section 301.7701-2 of the
Procedure and Administrative Regulations promulgated pursuant to the Internal
Revenue Code.

         5.3      To the extent that the Trustee is directed by the Company to
invest part or all of the Trust Fund in insurance contracts, the type and
amount thereof shall be specified by the Company. The Trustee shall be under no
duty to make inquiry as to the propriety of the type or amount so specified.

         Each insurance contract issued shall provide that the Trustee shall be
the owner thereof with the power to exercise all rights, privileges, options
and elections granted by or permitted under such contract or under the rules of
the insurer. Prior to a Change in Control, the exercise

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by the Trustee of any incidents of ownership under any contract shall be
subject to the direction of the Company, and after a Change in Control, such
exercise shall be at the discretion of the Trustee.

         The Trustee shall have no power to name a beneficiary of the policy
other than the Trust, to assign the policy (as distinct from conversion of the
policy to a different form) other than to a successor Trustee, or to loan to
any person the proceeds of any borrowing against such policy. Despite the
foregoing, the Trustee may (i) loan to the Company the proceeds of any
borrowing against an insurance policy held in the Trust Fund or (ii) assign
all, or any portion, of a policy to the Company if under other provisions of
this Trust Agreement the Company is entitled to receive assets from the Trust.

                                   SECTION 6
                             DISPOSITION OF INCOME

         6.1      During the term of this Trust, all of the income received by
the Trust, not of expenses and taxes, shall be accumulated and reinvested by
the Trustee in accordance with the terms of the Trust Agreement. Such
accumulated and reinvested income may be used by the Trustee in calculating the
Company's required contributions to the Trust under the provisions of Sections
1.3 and 1.4 of the Trust Agreement.

                                   SECTION 7
                             ACCOUNTING BY TRUSTEE

         7.1      Trustee shall keep accurate and detailed records of all
investments, receipts, disbursements, and all other transactions required to be
made, including such specific records as shall be agreed upon in writing
between Company and Trustee. Within ninety (90) days following the close of
each calendar year and within ninety (90) days after the removal or resignation
of Trustee, Trustee shall deliver to Company a written account of its
administration of the Trust during such year or during the period from the
close of the last preceding year to the date of such removal or resignation,
setting forth all investments, receipts, disbursements and other transactions
effected by it, including a description of all securities and investments
purchased and sold with the cost or not proceeds of sum purchases or sales
(accrued interest paid or receivable being shown separately), and showing all
cash, securities and other property held in the Trust at the end of such year
or as of the date of such removal or resignation, as the case may be.

                                   SECTION 8
                           RESPONSIBILITY OF TRUSTEE

         8.1      Trustee shall act with we care, skill, prudence and diligence
under the circumstances then prevailing that a prudent person acting in like
capacity and familiar with such matters would use in the conduct; of an
enterprise of a like character and with like aims, provided, however, that
Trustee shall incur no liability to any person for any action taken pursuant to
a direction, request or approval given by Company which is contemplated by, and
in conformity with, the terms of the Plan or this Trust and is given in writing
by Company. In the event of a dispute

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between Company and any third party, including a Participants or Beneficiary,
Trustee may apply to a Court of competent jurisdiction to resolve the dispute.

         8.2      If Trustee undertakes or defends any litigation arising in
connection with this Trust Agreement Company agrees to indemnify Trustee
against Trustee's costs, expenses and liabilities (including, without
limitation, attorneys' fees and expenses) relating thereto and to be primarily
liable for such payments. If Company does not pay such costs, expenses and
liabilities in a reasonably timely manner, Trustee may obtain funds to make
payment from the Trust.

         8.3      Trustee may consult with legal counsel (who may also be
counsel for Company generally) with respect to any of its duties or obligations
hereunder.

         8.4      Trustee may hire agents, accountants, attorneys, actuaries,
investment advisors, financial consultants or other professionals to assist it
in performing any of its duties or obligations hereunder.

         8.5      Trustee shall have, without exclusion, all powers conferred
on Trustees by applicable law, unless expressly provided otherwise in this
Trust Agreement; provided, however, that if an insurance policy is held as an
asset of the Trust, Trustee shall have no power to name a Beneficiary of the
policy other than the Trust, to assign the policy (as distinct from conversion
of the policy to a different form) other than to a successor Trustee, or to
loan to any person the proceeds of any borrowing against such policy.

                                   SECTION 9
                      COMPENSATION AND EXPENSES OF TRUSTEE

         9.1      Company shall pay any administrative and Trustee's fees and
expenses.

                                   SECTION 10
                       RESIGNATION AND REMOVAL OF TRUSTEE

         10.1     Trustee may resign at any time by written notice to Company,
which shall be effective thirty (30) days after receipt of such notice unless
Company and Trustee agree otherwise.

         10.2     Trustee may be removed by Company on thirty (30) days notice
or upon shorter notice accepted by Trustee. Notwithstanding the foregoing, for
a period of five (5) years following a Change in Control, Trustee may be
removed by Company only with the prior written consent of a majority of
Participants who are entitled to any future benefit under the Plan at the time
of such proposed removal.

         10.3     Upon resignation or removal of Trustee and appointment of a
successor Trustee, all assets shall subsequently be transferred to the
successor Trustee. The transfer shall be completed within sixty (60) days after
receipt of notice of resignation, removal or transfer, unless Company extends
the time limit.

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         10.4     If Trustee resigns or is removed, a successor shall be
appointed in accordance with Section 11 by the effective date of resignation or
removal under Sections 10.1 or 10.2. If no such appointment has been made,
Trustee may apply to a court of competent jurisdiction for appointment of a
successor or for instructions. All expenses of Trustee in connection with the
termination proceeding shall be allowed as administrative expenses of the
Trust.

         10.5     Notwithstanding anything to the contrary in this Section 10,
upon a Change in Control, (a) Union Planters Bank, N.A. Trust Department shall
automatically cease to serve as Trustee, without the necessity of executing any
documentation or taking further action, and (b) Wachovia Bank, N.A. shall
automatically become the successor Trustee, without the necessity of executing
any documentation other than a written acknowledgement of its acceptance of
such successor trusteeship. If Wachovia Bank, N.A. fails or refuses to execute
such acknowledgement within five (5) business days following the Change in
Control, then the successor trustee shall be appointed by Company, but only
with the prior approval of a majority of Participants eligible to receive
benefits under the Plan, pursuant to the provisions of Section 11.1.

                                   SECTION 11
                            APPOINTMENT OF SUCCESSOR

         11.1     If Trustee resigns (or is removed) in accordance with
Sections 10.1 or 10.2, Company may appoint any third party, such as a bank
trust department or other party that may be granted corporate trustee powers
under state law, as a successor to replace Trustee upon resignation or removal.
The appointment shall require the prior approval in writing of a majority of
Participants eligible to receive benefits under the Plan and shall subsequently
be effective when accepted in writing by the new Trustee, who shall have all of
the rights and powers of the former Trustee, including ownership rights in the
Trust assets. The former Trustee shall execute any instrument necessary or
reasonably requested by Company or the successor Trustee to evidence the
transfer.

         11.2     The successor Trustee need not examine the records and acts
of any prior Trustee and may retain or dispose of existing Trust assets,
subject to Sections 7 and 8. The successor Trustee shall not be responsible for
and Company shall indemnify and defend the successor Trustee from any claim or
liability resulting from any action or inaction of any prior Trustee or from
any other past event, or any condition existing at the time it becomes
successor Trustee.

                                   SECTION 12
                            AMENDMENT OR TERMINATION

         12.1     This Trust Agreement may be amended by a written instrument
executed by Trustee and Company. Notwithstanding the foregoing, no such
amendment shall conflict with the terms of the Plan or shall make the Trust
revocable. Notwithstanding the foregoing, for a period of five (5) years
following a Change in Control, the Trust may not be amended without the written
consent of a majority of Participants who are entitled to any future benefit
under the Plan at the time of such amendment.

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         12.2     The Trust shall not terminate until the date on which all
Participants and their Beneficiaries are no longer entitled to benefits,
pursuant to the terms of the Plan.

         12.3     Notwithstanding the provisions of Section 12.2 of the Trust,
upon written approval of all Participants (or, if the Participant is deceased,
the Participant's Beneficiary) entitled to payment of benefits pursuant to the
terms of the Plan, Company may terminate this Trust prior to the time all
benefit payments under the Plan have been made. All assets in the Trust at
termination shall then be returned to Company, provided appropriate provisions
are made for no payment of any benefits to Participants (or, if a Participant
is deceased, a Participant's Beneficiary).

                                   SECTION 13
                                 MISCELLANEOUS

         13.1     Any provision of this Trust Agreement prohibited by law shall
be ineffective to the extent of any such prohibition, without invalidating the
remaining provisions hereof.

         13.2     Benefits payable to Participants and their Beneficiaries
under this Trust Agreement may not be anticipated, assigned (either at law or
in equity), alienated, pledged, encumbered or subjected to attachment,
garnishment, levy, execution or other legal or equitable process.

         13.3     This Trust Agreement shall be governed by and construed in
accordance with the laws of Tennessee.

         13.4     For purposes of this Trust Agreement, Change of Control shall
mean the occurrence of any of the following events:

                  (i)      The acquisition by any individual, entity or group
         (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities
         Exchange Act of 1934, as amended (the "Exchange Act")) (a "Person") of
         beneficial ownership (within the meaning of Rule 13d-3 promulgated
         under the Securities Exchange Act of 1934, as amended) of 25% or more
         of either (A) the then outstanding shares of common stock of Company
         (the "Outstanding Company Common Stock") or (B) the combined voting
         power of the then outstanding voting securities of Company entitled to
         vote generally in the election of directors (the "Outstanding Company
         Voting Securities"); provided, however, that for purposes of this
         subsection (i), the following acquisitions shall not constitute a
         Change of Control (w) any acquisition directly from Company, (x) any
         acquisition by Company, (y) any acquisition by any employee benefit
         plan (or related trust) sponsored or maintained by Company or any
         corporation controlled by Company, or (z.) any acquisition by any
         Person pursuant to a transaction which complies with clauses (A), (B)
         and (C) of subsection (iii) of this Section 13.4; or

                  (ii)     Individuals who, as of the date hereof, constitute
         the Board of Directors of Company (the "Incumbent Board") cease for
         any reason to constitute at least a majority of the Board; provided,
         however, that any individual becoming a director subsequent to the
         date hereof whose election, or nomination for election by Company's
         shareholders,

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         was approved by a vote of at least a majority of the directors then
         comprising the Incumbent Board shall be considered as though such
         individual were a member of the incumbent Board, but excluding, for
         this purpose, any such individual whose initial assumption of office,
         occurs as a result of an actual or threatened election contest with
         respect to the election or removal of directors or other actual or
         threatened solicitation of proxies or consents by or on behalf of a
         Person other than the Board, or

                  (iii)    Consummation of a reorganization, merger or
         consolidation or sale or other disposition of all or substantially all
         of the assets of Company (a "Business Combination") in each case,
         unless, following such Business Combination,

                           (A)      all or substantially all of the individuals
                  and entities who were the beneficial owners, respectively, of
                  the Outstanding Company Common Stock and outstanding Company
                  Voting Securities immediately prior to such Business
                  Combination beneficially own, directly or indirectly, more
                  than 65% of, respectively, the then outstanding shares of
                  common stock and the combined voting power of the outstanding
                  voting securities entitled to vote generally in the election
                  of directors, as the case may be, of the corporation
                  resulting from such Business Combination (including, without
                  limitation, a corporation, which as a result of such
                  transaction owns Company or all or substantially all of
                  Company's assets either directly or through one or more
                  subsidiaries) in substantially the same proportions as their
                  ownership, immediately prior to such Business Combination of
                  the Outstanding Company Common Stock and Outstanding Company
                  Voting Securities, as the case may be, and

                           (B)      no Person (excluding any corporation
                  resulting from such Business Combination or any employee
                  benefit plan (or related trust) of Company or such
                  corporation resulting from such Business Combination)
                  beneficially owns, directly or indirectly, 25% or more at
                  respectively, the then outstanding shares of common stock of
                  the corporation resulting from such Business Combination or
                  the combined voting power of the then outstanding voting
                  securities of such corporation except to the extent that such
                  ownership existed prior to the Business Combination, and

                           (C)      at least a majority of the members of the
                  board of directors of the corporation resulting from such
                  Business Combination were members of the Incumbent Board at
                  the time of the execution of the initial agreement or of the
                  action of the Board, providing for such Business Combination.

         13.5     For purposes of this Trust Agreement an Involuntary
Termination of Employment shall consist of a termination of employment by a
Participant due to: (i) Good Reason (as defined under a Participants
Agreement), (ii) death or disability, or (iii) any termination of employment
following the date a Participant reaches Normal Retirement Age or becomes an
Eligible Participant under the Participation Agreement.

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         13.6     Notwithstanding anything to the contrary contained in this
Trust Agreement or in the Plan: (i) in the event that the Internal Revenue
Service prevails in its claim that amounts contributed to and held in the
Trust, and/or earnings thereon, constitute taxable income to a Participants or
his Beneficiary for any taxable year of him , prior to the taxable year in
which such contributions and/or earnings are distributed to him, or (ii) in the
event that legal counsel satisfactory to the Company, the Trustee and the
applicable Participants or his Beneficiary renders an opinion that the Internal
Revenue Service would likely prevail in such a claim, the assets in the Trust
Fund shall be immediately distributed to the Participants or his Beneficiary.
For purposes of this Section 13.6, the Internal Revenue Service shall be deemed
to have prevailed in a claim if such claim is upheld by a court of final
jurisdiction, or if the Trustee, based upon an opinion of legal counsel
satisfactory to the Company, the Trustee and the Participants or his
Beneficiary, fails to appeal a decision of the internal Revenue Service, or of
a court of applicable jurisdiction, with respect to such claim, to an
appropriate internal Revenue Service appeals authority of to a court of higher
jurisdiction within the appropriate time period.

                                   SECTION 14
                                 EFFECTIVE DATE

         14.1     Effective date of this Amended and Restated Trust Agreement
shall be August 31, 1999.

UNION PLANTERS CORPORATION                   UNION PLANTERS BANK, N.A.
                                             TRUST DEPARTMENT

BY: /s/ Benjamin W. Rawlins, Jr.             BY: /s/ E. J. House, Jr.
    ----------------------------                -------------------------------
    Benjamin W. Rawlins, Jr.
    Chairman and CEO                            TITLE: Executive Vice President

                                      12<PAGE>
                                                                   EXHIBIT 10.18

            REGIONS FINANCIAL CORPORATION MANAGEMENT INCENTIVE PLAN
                   AMENDED AND RESTATED AS OF JANUARY 1, 1999

I.       PURPOSE OF THE PLAN

         The purpose of the Plan is to:

         A.       Optimize the soundness, profitability and growth of Regions
Financial Corporation (the "Company");

         B.       Promote and encourage excellence in the performance of
individual responsibilities; and

         C.       Provide an incentive opportunity and ensure appropriate total
cash compensation for those members of management who are positioned to make
significant contributions to the Company's success.

II.      PLAN ADMINISTRATION

         The Committee shall be responsible for the management and
administration of the Plan. The Committee has full authority to interpret,
apply, and administer the Plan as it may be deemed to be in the best interests
of the Company and its shareholders. The Committee may delegate certain
administrative responsibilities as it deems appropriate to officers of the
Company. Any decision by the Committee relating to the Plan or to awards
thereunder shall be final and binding on the Participants.

III.     PARTICIPATION IN THE PLAN

         A.       The Committee shall, with respect to each Plan Year, determine
which employees of the Company shall participate in the Plan for that Plan Year,
based upon recommendations from the Chairman. Selection of Participants shall be
made from among those senior Company staff members who are deemed to be
sufficiently experienced and capable of making significant contributions to the
Company. Participation is conditional; participation in one Plan Year does not
guarantee participation in successive years. With respect to any employee of the
Company who is a member of the Executive Advisory Council, selection of that
employee to be a Participant shall be made no later than March 31 of the Plan
Year to which participation relates, and shall be made in writing.

         B.       Participation Tiers

         The Committee shall assign all Participants to Participation Tiers on
the basis of their roles and responsibilities and/or Base Compensation grade for
the Plan Year to which participation relates. With respect to any Participant
who is a member of the Executive Advisory

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Council, assignment of the Participant to a Participation Tier shall be made no
later than March 31 of the Plan Year to which participation relates, and shall
be made in writing.

         C.       Within each Participation Tier, Participants shall be assigned
performance goals related to corporate, regional, unit and personal goals. With
respect to any Participant who is a member of the Executive Advisory Council,
the Committee's assignment of goals to that Participant shall be made by March
31 of the Plan Year to which the goals relate, and shall be in writing.

         D.       For each Participation Tier, the Committee shall determine the
target award opportunities that shall apply to Participants in that
Participation Tier. Target award opportunities shall be expressed as a
percentage of Base Compensation. The maximum target award permissible under the
Plan shall be 60%. With respect to any Participant who is a member of the
Executive Advisory Council, the determination of the target award opportunity
applicable to that Participant shall be made by March 31 of the Plan Year to
which the target award applies, and shall be in writing.

         E.       Depending upon the extent to which performance goals are met
or exceeded, the actual award opportunities for a Participant shall range from
no award to a maximum of two times the target award opportunity, according to
the provisions of Section IV.

IV.      PERFORMANCE CRITERIA AND ANNUAL PLAN THRESHOLD

         A.       Company performance. The Committee shall establish corporate,
regional, and unit performance goals based on consolidated income before
securities transactions, return on assets, return on equity, average loan
growth, deposit growth, and other quantifiable financial objectives.

         B.       Personal performance. Personal performance goals shall consist
of annually established objectives and such other identified key aspects of
performance as may be determined to be appropriate for the Participant.

         C.       Each Plan Year the Committee will establish performance goals
that define the range of performance which the Plan will recognize for the Plan
Year to which the goals relate. With respect to any Participant who is a member
of the Executive Advisory Council, such performance goals shall be in writing
and shall be established before the earlier of (i) the date on which the outcome
under the goals is substantially certain or (ii) March 31 of the Plan Year to
which the goals relate. Corporate performance goals shall be recommended by the
Chairman or Vice Chairman. Regional goals and unit bank goals shall be approved
by the Regional Presidents. Corporate performance goals and regional goals must
also be approved by the Chairman and the Committee. Personal performance goals
shall be established by the Participant's manager and the next higher level of
management, subject to the overall review and approval by the Chairman.

         D.       If the Participant is a member of the Executive Advisory
Council, Company performance goals and personal performance goals established by
the Committee shall be objective performance goals within the meaning of Section
162(m) of the Internal Revenue Code and treasury regulations promulgated
thereunder. Pursuant to those regulations, a performance

                                       2
<PAGE>

goal shall be considered objective only if a third party having knowledge of the
relevant facts could determine whether the goals have been met. Furthermore, and
notwithstanding any other provision of the Plan to the contrary, once the
Committee has established performance goals for a Participant who is a member of
the Executive Advisory Council, the Committee shall have no discretion to (i)
increase the amount of compensation that would otherwise be due upon the
attainment of the goals or (ii) alter the goals for the Plan Year to which they
relate.

         E.       Levels of goal achievement shall be characterized as (i)
threshold achievement, below which no award is payable; (ii) target achievement,
or; (iii) maximum achievement, above which no additional award is payable.

         F.       The Chairman shall recommend, subject to the approval of the
Committee, the threshold, target, and maximum levels of achievement with respect
to a Plan Year. The Chairman shall also recommend, subject to the approval of
the Committee, specific floors and caps on these levels of achievement. With
respect to Participants who are members of the Executive Advisory Council,
threshold, target, and maximum levels shall be established by the Committee, in
writing, no later than March 31 of each Plan Year, and shall remain in effect
for the remainder of the Plan Year.

         G.       For each Performance Tier, the Committee shall assign
weightings to indicate the relative importance of each criterion in determining
incentive awards earned under the Plan. The sum of weightings assigned to any
Participant must equal 100%. These weightings may vary from Plan Year to Plan
Year, and shall be based on recommendations by the Chairman or Vice Chairman
subject to approval by the Committee. With respect to any Participant who is a
member of the Executive Advisory Council, the Committee shall assign such
weightings on or before March 31 of each Plan Year, and such weightings shall
remain in effect for the remainder of the Plan Year.

V.       PLAN ADMINISTRATOR'S DISCRETION

         The Committee, as plan administrator, is authorized to administer the
Plan, subject to and in accordance with the provisions set forth herein, and
shall have all powers necessary and appropriate to enable it to properly
administer the Plan, including but not limited to the power to:

         A.       approve the establishment and range of corporate goals,
recommendations regarding participation, the amounts of individual award
pay-outs, and all matters relating to the day-to-day operation of the Plan;

         B.       construe and interpret the Plan, establish rules and
regulations, delegate such administrative responsibilities as it deems proper,
and to perform all other acts it deems necessary to carry out the intent and
purpose of the Plan;

         C.       modify or amend the terms of the Plan, as it becomes
appropriate;

         D.       cancel the participation of any person who conducts himself in
a manner which the Committee, in the exercise of reasonable discretion,
determines to be inimical to the best interests of the Company;

                                       3
<PAGE>

         E.       correct any defect, supply any omission, or reconcile any
inconsistency in the Plan, in the manner and to the extent it shall deem
necessary; and,

         F.       adopt and modify, as needed, guidelines for identifying
Participation Tiers and Performance Criterion, assigning Participants to
Participation Tiers and determining target awards for Participants within each
Participation Tier.

         The Committee's determination under the Plan of the persons to
participate and receive awards and the terms and conditions of such awards need
not be uniformly applicable to all Participants, but may be made by the
Committee on a selective basis among persons who receive or are eligible to
receive awards under the Plan, whether or not such persons are similarly
situated. The Committee shall have final approval authority over the payment of
all awards under this Plan, whether individually or collectively.

VI.      PLAN FUNDING AND ACCRUALS OF AWARDS

         The Plan is unfunded and awards hereunder shall be paid from general
corporate funds.

VII.     NEW PARTICIPANTS, PROMOTIONS, OR TRANSFERS

         All participation in the Plan is subject to approval by the Committee.
Newly hired or promoted employees who enter positions which are considered to be
eligible for participation in the Plan normally will enter the Plan on January 1
next following the date of hire or promotion. The Chairman, however, subject to
approval by the Committee, may authorize immediate participation upon hire or
promotion. In this event, Participants who enter the Plan during the Plan Year
will receive awards calculated on a pro rata basis using the Base Compensation
earned and levels of performance achieved for that eligible portion of the Plan
Year.

VIII.    TERMINATION OF EMPLOYMENT

         If a Participant terminates employment during a Plan Year for any
reason other than Retirement, Disability, or death, no award will be payable
under the Plan.

         If a Participant's employment terminates during a Plan Year as a result
of Retirement, Disability, or death, the Participant, his Beneficiary, or his
estate will receive a pro-rata portion of the incentive award determined as of
the end of the Plan Year. The proration will be based on the Participant's
year-to-date Base Compensation for the Plan Year and the achieved levels of
performance as of the end of the Plan Year. The pro-rated award will be paid at
the same time as awards are paid to active Participants.

         If a Participant's employment terminates between the end of the Plan
Year and the Award Payment Date for any reason other than willful dishonesty or
gross misconduct, the full award earned as of December 31 of the Plan Year will
be paid. If the Participant's employment is terminated during this period for
willful dishonesty or gross misconduct, no award will be payable.

                                       4
<PAGE>

IX.      MISCELLANEOUS PROVISIONS

         A.       Nonalienation of benefit. No benefit under the Plan shall be
subject in any manner to anticipation, alienation, sale, transfer, assignment,
pledge, encumbrance or charge, and any attempt to do so shall be void.

         B.       Withholding of taxes. The Company shall have the right to
deduct from any award payable under this Plan all applicable withholding and
employment taxes at such times as they are due.

         C.       Establishment of Base Compensation. All awards under the Plan
shall be calculated on Base Compensation earned during the Plan Year.

         D.       Other benefit plans. No awards, payments, or benefits paid
under this Plan shall be taken into account in determining any benefits under
any retirement, profit-sharing, or other employee benefit plan to which the
Company contributes.

         E.       Plan expenses. Any expenses incurred in the administration of
this Plan shall be borne by the Company.

         F.       Right to continued employment. Participation in this Plan
shall not be construed as giving any Participant the right to be retained in the
employ of the Company. Further, the Company expressly reserves the right at any
time to dismiss any Participant with or without cause, such dismissal to be free
from any liability or any claim under the Plan, except as provided herein.

         G.       Construction of the Plan. The Plan shall be governed and
interpreted in accordance with the laws of the State of Alabama, and shall be
binding on and inure to the benefit of any successor or successors of the
Company.

         H.       Headings. The heading and subheadings in the Plan have been
inserted for convenience and reference only and are not to be used in construing
the instrument or any provisions hereof.

         I.       Number and gender. The masculine pronoun used shall include
the feminine pronoun and the singular number shall include the plural number
unless the context of the Plan requires otherwise.

         J.       Power to amend and terminate the Plan. The Committee may, at
any time, without the need for obtaining approval of the shareholders, by an
instrument in writing, suspend or terminate the Plan, in whole or in part, or
amend it in such respects as the Committee, in its sole discretion, deems
appropriate and in the best interests of the Company; provided, however, that
shareholder approval shall be required for any amendment that changes the
material terms of the Plan applicable to any Participant who is a member of the
Executive Advisory Council.

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<PAGE>

X.       DEFINITIONS

         When used herein, the following words and phrases shall have the
meanings set forth below, unless a different meaning is clearly required by the
context of the Plan.

         A.       Award Payment Date shall mean the date on which incentive
awards are paid to Participants, which may not be later than March 31 of the
year following the Plan Year.

         B.       Base Compensation shall mean income provided to the
Participant for services rendered, also referred to as base salary, excluding
overtime, commissions, awards from other incentive programs, Company
contributions to fringe benefit programs (other than pre-tax contributions by
employees to plans maintained under Sections 125 or 401(k) of the Internal
Revenue Code), and other "non-salary" income.

         C.       Beneficiary shall mean the person or persons designated by the
Participant to receive amounts payable under the Plan in the event of the
Participant's death.

         D.       Committee shall mean the Directors Personnel Committee of the
Board of Directors of Regions Financial Corporation.

         E.       Company shall mean Regions Financial Corporation, its
affiliates and subsidiaries, or any successor(s) thereto.

         F.       Deferred Award shall mean that portion of an award which is
held for payment at a designated future time in accordance with the provisions
of the Regions Financial Corporation Optional Deferred Compensation Plan for
Management Employees.

         G.       Disability shall mean a physical or mental condition which
renders the Participant incapable of performing the work for which he was
employed or similar work, as evidenced by eligibility for and actual receipt of
benefits payable under the Company's long-term disability program and/or Social
Security.

         H.       Executive Advisory Council shall mean the management committee
of the Company, the membership of which is determined from time to time by the
Chairman and CEO. As of the date of this amendment and restatement of the Plan,
membership on the Executive Advisory Council consisted of the Chairman and CEO,
the Vice Chairman/Executive Financial Officer, and the Regional Presidents.

         I.       Participant shall mean any employee who is selected from the
ranks of senior company staff who is selected by the Committee to be a member of
the Plan, based on experience and capability.

         J.       Participation Tier shall mean the level of participation
assigned to each member of the Plan, based generally on the Participant's roles
and responsibilities and/or Base Compensation, which determines the amount of
the award in terms of a percentage of Base Compensation.

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<PAGE>

         K.       Performance Criteria shall mean those specific financial
statement items and personal goals which are determined to be the measurements
of performance success in a given Plan Year.

         L.       Plan shall mean the Regions Financial Corporation Management
Incentive Plan, as set forth herein or in any amendments hereto.

         M.       Plan Year shall mean any performance period which begins on
January 1 and ends on December 31, i.e., the calendar year.

         N.       Retirement shall mean the cessation of active employment by a
Participant, whether such cessation is designated as "normal" (at age 65) or
"early" (prior to age 65) retirement under the terms and conditions of the
Regions Financial Corporation Retirement Plan.

         IN WITNESS WHEREOF, Regions Financial Corporation has caused this
Amended and Restated Management Incentive Plan to be executed as of this the 1st
day of January, 1999.

                               REGIONS FINANCIAL CORPORATION

                               By: /s/ CARL E. JONES, JR.
                                  ---------------------------------------------
                                  Name:  Carl E. Jones, Jr.
                                  Its: President and Chief Executive Officer

                               ATTEST:

                               /s/ SAMUEL E. UPCHURCH, JR.
                               ------------------------------------------------
                               Name: Samuel E. Upchurch, Jr.
                               Its: Corporate Secretary

                                       7

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