Document:

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                                                                   EXHIBIT 10.14

                                 BANCTENN CORP.

                           DIRECTORS STOCK OPTION PLAN

         1.       PURPOSE OF THE PLAN.

                  The purpose of this BancTenn Corp. Directors Stock Option Plan
(the "Plan") is to advance the interests of the Company by providing Directors
of the Company and the Bank with the opportunity to acquire Shares of the
Company. By encouraging such stock ownership, the Company seeks to attract,
retain, and motivate the best available personnel for positions of substantial
responsibility and to provide additional incentive to Directors to promote the
success of the Company's business.

         2.       DEFINITIONS.

                  As used herein, the following definitions shall apply:

                  (a)      "Affiliate" shall mean any "parent corporation" or
"subsidiary corporation" of the Company as defined in Section 424(e) and (f) of
the Code, and any entity deemed to be an "affiliate" of the Company or Bank
under applicable federal banking regulations.

                  (b)      "Agreement" shall mean a written agreement entered
into in accordance with Paragraph 5(c).

                  (c)      "Bank" shall mean Bank of Tennessee.

                  (d)      "Board" shall mean the Board of Directors of the
Company.

                  (e)      "Change in Control" shall mean, with respect to the
Corporation or Bank, the happening of any of the following: (i) if any person or
entity, including a "group" as defined in the Securities Exchange Act of 1934
(other than (x) the Corporation or a wholly-owned subsidiary thereof, or (y) any
employee benefit plan of the Corporation or any of its subsidiaries, or (z)
William B. Greene, Jr. and his Related Interests) becomes the beneficial owner
of securities of the Corporation or the Bank having 50% or more of the combined
voting power of the then outstanding securities of the Corporation or the Bank
that may be cast in the election of directors of the Corporation or the Bank
(other than as a result of an issuance of securities initiated by the
Corporation or Bank in the ordinary course of business); (ii) if, as a result of
or in connection with any cash tender or exchange offer, merger or other
business combination, sale of assets or contested election, or any combination
of the foregoing, less than a majority of the securities of the Corporation or
the Bank, entitled to vote in the election of directors, are held by the holders
of the Corporation's or Bank's securities holding a majority of the outstanding
securities prior to such transaction; (iii) if, during any period of two (2)
consecutive years, the majority composition of the Board of Directors of the
Corporation or the Bank changes unless the election of each new director was
approved by 2/3 of the directors of the Corporation or the Bank, as the case may
be, then still in office who were directors of the Corporation or Bank at the
beginning of such period; or (iv) if William B. Greene, Jr. and his Related
Interests cease to own at least 25% of the outstanding Common Stock of the
Corporation unless William B. Greene, Jr. and his Related Interests remain the
Corporation's largest stockholder.

                  (f)      "Code" shall mean the Internal Revenue Code of 1986,
as amended.

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                  (g)      "Common Stock" shall mean the common stock, par value
$8.00 per share, of the Company.

                  (h)      "Continuous Service" shall mean the absence of any
interruption or termination of service as a Director of the Company or the Bank.
Continuous Service shall not be considered interrupted in the case of sick
leave, military leave or any other leave of absence approved by the Company's
Board of Directors or in the case of transfers between payroll locations of the
Company or Bank and an Affiliate or a successor of the Company or Bank.

                  (i)      "Company" shall mean BancTenn Corp.

                  (j)      "Director" shall mean any member of the Board of
Directors of the Company or Bank. Notwithstanding any other provision herein,
including the definition of "Affiliate," the only persons eligible to receive
grants of Options under this Plan are those persons who are now or hereafter
elected as members of the Board of Directors of the Company or the Board of
Directors of the Bank.

                  (k)      "Effective Date" shall mean the date specified in
Paragraph 13 hereof.

                  (l)      "Employee" shall mean any person employed by the
Company or the Bank.

                  (m)      "Exercise Price" shall mean the price per Optioned
Share at which an Option may be exercised.

                  (n)      "Market Value" shall mean the fair market value of
the Common Stock, as determined under Paragraph 7(b) hereof.

                  (o)      "Option" means an option to purchase Common Stock
which meets the requirements set forth in the Plan. Such Options shall not
constitute "incentive stock options" within the meaning of Section 422 of the
Code.

                  (p)      "Optioned Shares" shall mean Shares subject to an
Option granted pursuant to this Plan.

                  (q)      "Participant" shall mean any person who receives an
Option pursuant to the Plan.

                  (r)      "Plan" shall mean the BancTenn Corp. Directors Stock
Option Plan.

                  (s)      "Rule 16b-3" shall mean Rule 16b-3 of the General
Rules and Regulations under the Securities Exchange Act of 1934, as amended.

                  (t)      "Share" shall mean one share of Common Stock.

                  (u)      "William B. Greene, Jr. and his Related Interests"
shall mean William B. Greene, Jr., Greene Investment Corporation, any trust of
which Mr. Greene is a trustee, co-trustee, or beneficiary, and any partnership,
corporation or limited liability company of which Mr. Greene is an officer,
director, stockholder, member or equity owner.

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         3.       TERM OF THE PLAN AND OPTIONS.

                  (a)      Term of the Plan. The Plan shall continue in effect
for a term of five (5) years from the Effective Date, unless sooner terminated
pursuant to Paragraph 14 hereof. No Option shall be granted under the Plan after
five (5) years from the Effective Date.

                  (b)      Term of Options. The term of each Option granted
under the Plan shall be ten (10) years. The vesting formula set forth in
Paragraph 6(c) shall not have the effect of extending the ten (10) year term of
any option.

         4.       SHARES SUBJECT TO THE PLAN.

                  The aggregate number of Shares deliverable pursuant to Options
under this Plan shall not exceed 50,000 shares (subject to such adjustments as
may be made pursuant to Paragraph 10 hereof). Such Shares may either be
authorized but unissued Shares or Shares held in treasury. If Options should
expire, become unexercisable or be forfeited for any reason without having been
exercised or become vested in full, the Optioned Shares shall, unless the Plan
shall have been terminated, be available for the grant of additional Options
under the Plan.

         5.       ADMINISTRATION OF THE PLAN.

                  (a)      General Rule. The Plan shall be administered by the
Board, provided that the Board may appoint a committee of Directors to make any
determinations required pursuant to the Plan.

                  (b)      Powers. Except as limited by the express provisions
of the Plan, the Board shall have sole and complete authority and discretion (i)
to determine the form and content of Options to be issued in the form of
Agreements under the Plan, (ii) to interpret the Plan, (iii) to prescribe, amend
and rescind rules and regulations relating to the Plan, and (iv) to make other
determinations necessary or advisable for the administration of the Plan.

                  (c)      Agreement. Each Option shall be evidenced by a
written agreement containing such provisions as may be approved by the Board.
Each such Agreement shall constitute a binding contract between the Company and
the Participant, and every Participant, upon acceptance of such Agreement, shall
be bound by the terms and restrictions of the Plan and of such Agreement. The
terms of each such Agreement shall be in accordance with the Plan. In
particular, the Board shall set forth in this Agreement (i) the Exercise Price
of an Option, (ii) the number of Shares subject to, and the expiration date of,
the Option, (iii) the manner, time, and rate (cumulative or otherwise) of
exercise or vesting of such Option, and (iv) the restrictions, if any, to be
placed upon such Option, or upon Shares which may be issued upon exercise of
such Option. The terms and restrictions of each award may vary as determined by
the Board in its sole discretion, provided, however, no award shall be
inconsistent with the terms of this Plan.

                  The President of the Company and such Directors as shall be
designated by the Board are hereby authorized to execute Agreements on behalf of
the Company, and to cause them to be delivered to the recipients of Options.

                  (d)      Effect of the Board's Decisions. All decisions,
determinations, and interpretations of the Board shall be final and conclusive
on all persons affected thereby.

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                  (e)      Indemnification. In addition to such other rights of
indemnification as they may have, the members of the Board shall be indemnified
by the Company in connection with any claim, action, suit or proceeding relating
to any action taken or failure to act under or in connection with the Plan or
any Option, granted hereunder to the full extent provided for under the
Company's governing instruments with respect to the indemnification of
Directors.

                  (f)      Certain Mandatory Abstentions. Notwithstanding
anything herein to the contrary, no Director shall have any vote with regard to
any Option previously granted to himself or herself.

         6.       FORMULA GRANTS OF OPTIONS.

                  (a)      Grants on the Effective Date. On the Effective Date,
and upon approval of the Board, each Director shall receive Options to purchase
up to 1,000 Shares at an Exercise Price per Share equal to the Market Value on
the Effective Date. Any person who is a Director of both the Company and the
Bank shall be entitled to receive only one (1) Option grant pursuant to the Plan
in any given calendar year.

                  (b)      Annual Grants Subsequent to the Effective Date. On
January 15, 2001 and on each succeeding January 15, each Director shall receive
additional Options to purchase Shares at an Exercise Price per Share equal to
the Market Value on the date of each such grant. The Board shall determine the
number of shares subject to each such Option but no individual, annual Option
shall be for more than 1,000 shares. Any person who is a Director of both the
Company and the Bank shall be entitled to receive only one (1) Option grant
pursuant to the Plan in any given calendar year.

                  (c)      Vesting.  The  Board  shall  have  the  discretion
to determine the vesting schedule, if any, for each Option granted pursuant to
the Plan; provided, however, no such vesting schedule shall have the effect of
extending the term of any such Option beyond the maximum ten (10) year term
provided for in Paragraph 3(b).

         7.       EXERCISE PRICE FOR OPTIONS.

                  (a)      General Rule. The Exercise Price as to any particular
Option shall be the Market Value of the Optioned Shares on the date of grant, as
determined by the Board.

                  (b)      Standards for Determining Exercise Price. If the
Common Stock is listed on a national securities exchange (including the NASDAQ
National Market System) on the date in question, then the Market Value per Share
shall be not less than the average of the highest and lowest selling price on
such exchange on such date, or if there were no sales on such date, then the
Exercise Price shall be not less than the mean between the bid and asked price
on such date. If the Common Stock is traded otherwise than on a national
securities exchange on the date in question, then the Market Value per Share
shall be not less than the mean between the bid and asked price on such date,
or, if there is no bid and asked price on such date, then on the next prior
business day on which there was a bid and asked price. If no such bid and asked
price is available, then the Market Value per Share shall be its fair market
value as determined by the Board, in its sole and absolute discretion.

         8.       EXERCISE OF OPTIONS.

                  (a)      Generally. Any Option granted hereunder shall be
exercisable at such times and under such conditions as shall be permissible
under the terms of the Plan and under the terms of the Option Agreement granting
Options to a Participant. An Option may not be exercised for a fractional Share.

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                  (b)      Procedure for Exercise. Options may be exercised from
time to time by (i) written notice of intent to exercise the Option with respect
to all or a specified number of the Optioned Shares, and (ii) payment to the
Company (contemporaneously with the delivery of such notice), in cash, in Common
Stock, or a combination of cash and Common Stock, of the amount of the Exercise
Price for the number of the Optioned Shares with respect to which the Option is
then being exercised. Each such notice and payment shall be delivered, or mailed
by prepaid registered or certified mail, addressed to the Treasurer of the
Company at the Company's executive offices. A Director who exercises Options may
satisfy all applicable federal, state and local income and employment tax
withholding obligations, in whole or in part, by irrevocably electing to have
the Company withhold shares of Common Stock, or to deliver to the Company shares
of Common Stock that he already owns, having a value equal to the amount
required to be withheld.

                  (c)      Exercisability. Options granted hereunder may be
exercised only while the Participant is a Director of the Company or the Bank,
or within three (3) years after termination of the Participant's Continuous
Service as a Director, but in no event later than the date on which such Options
would otherwise expire. In the event of such Director's death during the term of
his directorship, Options granted under this Paragraph may be exercised within
three (3) years from the date of his death by the personal representatives of
his estate or person or persons to whom his rights under such Option shall have
passed by will or by laws of descent and distribution, but in no event later
than the date on which such Options would otherwise expire.

                  (d)      Forfeiture. Options granted hereunder shall be
automatically and completely forfeited in the event a Participant is removed
from the Board of the Company or the Bank for "cause". As used herein, "cause"
shall include indictment on any criminal felony, conviction of any criminal
felony, engaging in any act of moral turpitude, failure to satisfy attendance
requirements as established by the Board or the applicable regulatory
authorities from time to time, the removal of the Participant at any
shareholders meeting specifically called to consider termination or removal of
the Participant as a Director, and any other act which the Board of the Company,
in its sole discretion, determines to be materially harmful or injurious to the
reputation and standing of the Company or the Bank.

         9.       CHANGE IN CONTROL.

                  (a) General Rule. At the time of a Change in Control, all
Options shall be deemed fully exercisable and any waiting period or vesting
period shall be deemed automatically terminated. In any such instance, each
holder of an Option shall be entitled, at his discretion and choice, to (i)
receive cash from the Company in an amount equal to the excess of the Market
Value of the Common Stock subject to the Option over the Exercise Price of the
Optioned Shares, in exchange for the cancellation of such Option, or (ii)
exercise the Option in full according to its terms. Notwithstanding the
foregoing, a Participant's election to exercise his Options shall not give the
Participant any greater rights or different legal position vis-a-vis the rights
of the Company's other stockholders in regard to the event constituting the
Change of Control.

                  (b) Exception to General Rule. Notwithstanding subparagraph
(a) of this Paragraph, if otherwise prohibited by applicable securities law or
regulation, an Option may not be cancelled in exchange for cash within the
six-month period following the date of its grant.

         10.      EFFECT OF CHANGES IN COMMON STOCK SUBJECT TO THE PLAN.

                  (a) Recapitalizations; Stock Splits, Etc. The number and kind
of shares reserved for issuance under the Plan, and the number and kind of
shares subject to outstanding Options (and the Exercise Price thereof) shall be
proportionately adjusted for any increase, decrease, change or exchange of
Shares for a different number or kind of shares or other securities of the
Company which results from a merger, consolidation, recapitalization,
reorganization, reclassification, stock dividend, split-up, combination of
shares,

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or similar event in which the number or kind of shares is changed without the
receipt or payment of consideration by the Company.

                  (b)      Transactions in Which the Company is Not the
Surviving Entity. Subject to Paragraph 9 hereof, in the event of (i) the
liquidation or dissolution of the Company, (ii) a merger or consolidation in
which the Company is not the surviving entity, or (iii) the sale or disposition
of all or substantially all of the Company's assets (any of the foregoing to be
referred to herein as a "Transaction"), all outstanding Options shall be
surrendered. With respect to each Option so surrendered, the holder of the
surrendered Option may elect to receive:

                           (1)      for each Share then  subject  to an
outstanding Option the number and kind of shares into which each outstanding
Share (other than Shares held by dissenting stockholders) is changed or
exchanged, together with an appropriate adjustment to the Exercise Price; or

                           (2)      a cash payment (from the Company or the
successor corporation), in an amount equal to the Market Value of the Shares
subject to the Option on the date of the Transaction, less the Exercise Price of
the Option.

                  (c)      Conditions and Restrictions on New, Additional, or
Different Shares or Securities. If, by reason of any adjustment made pursuant to
this Paragraph, a Participant becomes entitled to new, additional, or different
shares of stock or securities, such new, additional, or different shares of
stock or securities shall thereupon be subject to all of the conditions and
restrictions which were applicable to the Shares pursuant to the Option before
the adjustment was made.

                  (d)      Other Issuances. Except as expressly provided in this
Paragraph, the issuance by the Company or the Bank of shares of stock of any
class, or of securities convertible into Shares or stock of another class, for
cash or property or for labor or services either upon direct sale or upon the
exercise of rights or warrants to subscribe therefor, shall not affect, and no
adjustment shall be made with respect to, the number, class, or Exercise Price
of Shares then subject to Options or reserved for issuance under the Plan. There
shall be no preemptive rights with respect to Shares covered by unexercised
Options.

         11.      NON-TRANSFERABILITY OF OPTIONS.

                  Options may not be sold, pledged, assigned, hypothecated,
transferred or disposed of in any manner other than by will or by the laws of
descent and distribution, or pursuant to the terms of a "qualified domestic
relations order" (within the meaning of Section 414(p) of the Code and the
regulations and rulings thereunder).

         12.      TIME OF GRANTING OPTIONS.

                  The date of grant of an Option shall, for all purposes, be the
date on which the Board makes the determination granting such Option. Notice of
the determination shall be given to each Participant to whom an Option is so
granted within a reasonable time after the date of such Grant.

         13.      EFFECTIVE DATE.

                  The Plan shall become effective April 24, 2000 (the "Effective
Date") upon approval of the Plan by the stockholders of the Company.

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         14.      AMENDMENT AND TERMINATION OF THE PLAN.

                  The Board may from time to time amend the terms of the Plan
and, with respect to any Shares at the time not subject to Options, suspend or
terminate the Plan; provided that no provision hereof may be amended more than
once every six months (other than to comport with changes in the Code, the
Employee Retirement Income Security Act of 1974, as amended, or the rules
thereunder), and provided further that any amendment that is "material" within
the meaning of Rule 16b-3 shall be subject to stockholder approval. No
amendment, suspension or termination of the Plan shall, without the consent of
any affected holders of an Option, alter or impair any rights or obligations
under any Option theretofore granted.

         15.      CONDITIONS UPON ISSUANCE OF SHARES.

                  (a)      Compliance with Securities Laws. Shares of Common
Stock shall not be issued with respect to any Option unless the issuance and
delivery of such Shares shall comply with all relevant provisions of law,
including, without limitation, the Securities Act of 1933, as amended, the rules
and regulations promulgated thereunder, any applicable state securities law, and
the requirements of any stock exchange upon which the Shares may then be listed.

                  (b)      Special Circumstances. The inability of the Company
to obtain approval from any regulatory body or authority deemed by the Company's
counsel to be necessary to the lawful issuance and sale of any Shares hereunder
shall relive the Company of any liability in respect of the non-issuance or sale
of such Shares. As a condition to the exercise of an Option, the Company may
require the person exercising the Option to make such representations and
warranties as may be necessary to assure the availability of an exemption from
the registration requirements of federal and state securities law.

         16.      RESERVATION OF SHARES.

                  The Company, during the term of the Plan, will reserve and
keep available a number of Shares sufficient to satisfy the requirements of the
Plan.

         17.      WITHHOLDING TAX.

                  The Company's obligation to deliver Shares upon exercise of
Options shall be subject to the Participant's satisfaction of all applicable
federal, state and local income and employment tax withholding obligations. Each
Participant may satisfy the obligation, in whole or in part, by irrevocably
electing to have the Company withhold Shares, or to deliver to the Company
Shares that he already owns, having a value equal to the amount required to be
withheld. The value of Shares to be withheld, or delivered to the Company, shall
be based on the Market Value of the Shares on the date the amount of tax to be
withheld is to be determined. As an alternative, the Company may retain, or sell
without notice, a number of such Shares sufficient to cover the amount required
to be withheld.

         18.      NO EMPLOYMENT OR OTHER RIGHTS.

                  In no event shall a Director's eligibility to participate or
participation in the Plan create or be deemed to create any legal or equitable
right of the Director, or any other party to continue service with the Company
or the Bank, whether as a Director or employee. Without limiting the foregoing,
neither a Director's eligibility to participate in the Plan, nor the granting of
any Options under the Plan, nor the exercise of any Options, shall be construed
to guarantee or assure any Director of continued service as a Director or
reelection

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as a Director at any time. No Director shall have a right to be
granted an Option or, having received an Option, the right to again be granted
any further Options. However, a Director who has been granted an Option may, if
otherwise eligible and upon approval of the Board, be granted an additional
Option or Options.

         19.      GOVERNING LAW.

                  The Plan shall be governed by and construed in accordance with
the laws of the State of Tennessee, except to the extent that federal law shall
be deemed to apply.

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                                                                  EXHIBIT 10.15

                                 BANCTENN CORP.
                          DIRECTORS FEE DEFERRAL PLAN

         1.       PURPOSE OF THE PLAN.

                  The purpose of this BancTenn Corp. Directors Fee Deferral
Plan (the "Plan") is to advance the interests of the Company by providing
Directors of the Company and the Bank with the opportunity to defer receipt of
their directors fees in a manner which suits each individual director's
individual circumstances and preferences. By making this Plan available, the
Company seeks to provide each Director with a degree of flexibility in planning
his or her personal financial matters.

         2.       DEFINITIONS.

                  As used herein, the following definitions shall apply.

                  (a)      "Bank" shall mean Bank of Tennessee.

                  (b)      "Board" shall mean the Board of Directors of the
Company.

                  (c)      "Change in Control" shall mean, with respect to the
Corporation or Bank, the happening of any of the following: (i) if any person
or entity, including a "group" as defined in the Securities Exchange Act of
1934 (other than (x) the Corporation or a wholly-owned subsidiary thereof, or
(y) any employee benefit plan of the Corporation or any of its subsidiaries, or
(z) William B. Greene, Jr. and his Related Interests) becomes the beneficial
owner of securities of the Corporation or the Bank having 50% or more of the
combined voting power of the then outstanding securities of the Corporation or
the Bank that may be cast in the election of directors of the Corporation or
the Bank (other than as a result of an issuance of securities initiated by the
Corporation or Bank in the ordinary course of business); (ii) if, as a result
of or in connection with any cash tender or exchange offer, merger or other
business combination, sale of assets or contested election, or any combination
of the foregoing, less than a majority of the securities of the Corporation or
the Bank, entitled to vote in the election of directors, are held by the
holders of the Corporation's or Bank's securities holding a majority of the
outstanding securities prior to such transaction; (iii) if, during any period
of two (2) consecutive years, the majority composition of the Board of
Directors of the Corporation or the Bank changes unless the election of each
new director was approved by 2/3 of the directors of the Corporation or the
Bank, as the case may be, then still in office who were directors of the
Corporation or Bank at the beginning of such period; or (iv) if William B.
Greene, Jr. and his Related Interests cease to own at least 25% of the
outstanding Common Stock of the Corporation unless William B. Greene, Jr. and
his Related Interests remain the Corporation's largest stockholder.

                  (d)      "Code" shall mean the Internal Revenue Code of 1986,
as amended.

                  (e)      "Continuous Service" shall mean the absence of any
interruption or termination of service as a Director of the Company or the
Bank. Continuous Service shall not be considered interrupted in the case of
sick leave, military leave or any other leave of absence approved by the
Company or in the case of transfers between payroll locations of the Company or
between the Company, an Affiliate or a successor.

                  (f)      "Company" shall mean BancTenn Corp.

                  (g)      "Deferral Account" shall mean the account
established at the Bank to hold the deferred fees of the Directors who elect to
participate in the Plan.

                  (h)      "Director" shall mean any member of the Board of
Directors of the Company or the Board of Directors of the Bank.

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                  (i)      "Effective Date" shall mean the date specified in
Paragraph 8 hereof.

                  (j)      "Employee" shall mean any person employed by the
Company or the Bank.

                  (k)      "Interest Rate" shall mean an annual rate of
interest equal to (i) the interest rate yield on United States Treasury Bill
obligations having a maturity of one (1) year, quoted as of the first business
day of January of each calendar year, plus (ii) 250 basis points. The Interest
Rate, as so determined on the first business day of each January, shall be
fixed for the entire calendar year.

                  (l)      "Plan" shall mean the BancTenn Corp. Directors Fee
Deferral Plan.

                  (m)      "William B. Greene, Jr. and his Related Interests"
shall mean William B. Greene, Jr. and, Greene Investment Corporation, any trust
of which Mr. Greene is a trustee, co-trustee, or beneficiary, and any
partnership, corporation or limited liability company of which Mr. Greene is an
officer, director, stockholder, member or equity owner.

         3.       TERM OF THE PLAN.

                           The Plan shall continue in effect for a term of five
(5) years from the Effective Date, unless sooner terminated pursuant to
Paragraph 9 hereof: provided, however, the Board of Directors of the Company
shall be entitled to terminate the Plan effective at the end of each calendar
year upon a vote of not less than two-thirds of the Directors then holding
office.

         4.       ADMINISTRATION OF THE PLAN.

                  (a)      Procedure for Election. Not later than December 1 of
each calendar year, each Director shall be entitled to make a Deferral Election
for the next succeeding calendar year, the effect of which is that the Director
waives his right to receive his Director fees in cash on a current basis during
such next succeeding calendar year. Such Deferral Election shall remain in
effect until revoked in writing by such Director. If a Director does not make
an affirmative Deferral Election, then he or she shall receive his or her
Director fees in cash payments according to the customary payment schedule.

                  (b)      Interest. Funds held in the Deferral Account shall
bear interest at the Interest Rate, compounded annually, until withdrawn.

                  (c)      General Rule. The Plan shall be administered by the
Board, provided that the Board may appoint a committee of Directors to make any
determinations required pursuant to the Plan.

                  (d)      Powers. Except as limited by the express provisions
of the Plan, the Board shall have sole and complete authority and discretion
(i) to interpret the Plan, (ii) to prescribe, amend and rescind rules and
regulations relating to the Plan, and (iii) to make other determinations
necessary or advisable for the administration of the Plan.

                  (e)      Effect of the Board's Decisions. All decisions,
determinations, and interpretations of the Board shall be final and conclusive
on all persons affected thereby.

                  (f)      Indemnification. In addition to such other rights of
indemnification as they may have, the members of the Board shall be indemnified
by the Company in connection with any claim, action, suit or proceeding
relating to any action taken or failure to act under or in connection with the
Plan, granted hereunder to the full extent provided for under the Company's
governing instruments with respect to the indemnification of Directors.

         5.       WITHDRAWAL OF FUNDS.

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                  (a)      Procedure. Deferred fees, together with the
allocable interest earned thereon, may be withdrawn from time to time by the
Director's written notice of withdrawal. Each such notice shall be delivered,
or mailed by prepaid registered or certified mail, addressed to the Treasurer
of the Company at the Company's executive offices. A Director who exercises his
right of withdrawal shall provide the Company satisfactory evidence as to the
proper handling of all applicable federal, state and local income and
employment taxes withholding obligations.

                  (b)      Heirs and Successors. Withdrawal rights created
hereunder may be exercised only while the Participant is a Director of the
Company or the Bank, or within one (1) year after termination of the
Participant's Continuous Service as a Director. In the event of such Director's
death during the term of his directorship, the withdrawal rights granted herein
may be exercised within one (1) year from the date of his death by the personal
representatives of his estate or by the person or persons to whom his rights
under such rights shall have passed by will or by laws of descent and
distribution.

                  (c)      Forfeiture. A Director's right to withdraw Deferred
Fes shall be automatically and completely forfeited in the event a Director is
removed from the Board of the Company or the Bank for "cause". As used herein,
"cause" shall include indictment on any criminal felony, conviction of any
criminal felony, engaging in any act of moral turpitude, failure to satisfy
attendance requirements as established by the Board or the applicable
regulatory authorities from time to time, the removal of the Director at any
shareholders meeting specifically called to consider termination or removal of
the Participant as a Director, and any other act which the Board of the
Company, in its sole discretion, determines to be materially harmful or
injurious to the reputation and standing of the Company or the Bank.

         6.       CHANGE IN CONTROL.

                  Upon the occurrence of a Change of Control, the Company, and
its successors, shall have the right to terminate this Plan and require each
participant to withdraw all deferred fees, and all allocable interest thereon.

         7.       NON-TRANSFERABILITY.

                  Neither the Directors Fees deferred under this Plan, nor the
interest earned thereon, may be pledged, assigned, hypothecated, transferred or
disposed of in any manner other than by will or by the laws of descent and
distribution, or pursuant to the terms of a "qualified domestic relations
order" (within the meaning of Section 414(p) of the Code and the regulations
and rulings thereunder).

         8.       EFFECTIVE DATE.

                  The Plan shall become effective as of January 1, 2001 (the
"Effective Date"); provided, however, the first election to be made by the
Directors under the Plan shall be no later than December 1, 2000.

         9.       AMENDMENT AND TERMINATION OF THE PLAN.

                  The Board may from time to time amend, suspend or terminate
the Plan; provided that no provision hereof may be amended more than once every
six months (other than to comport with changes in the Code, the Employee
Retirement Income Security Act of 1974, as amended, or the rules thereunder),
and provided further that any amendment that is "material" within the meaning
of Rule 16b-3 of the Securities Exchange Commission shall be subject to
stockholder approval. No amendment, suspension or termination of the Plan
shall, without the consent of any affected then-participating Director, alter
or impair any deferral theretofore created.

         10.      WITHHOLDING TAX.

                  The Company's obligation to deliver Deferred Fees and the
interest earnings thereon shall be subject to the Participant's satisfaction of
all applicable federal, state and local income and employment tax withholding
obligations.

         11.      NO EMPLOYMENT OR OTHER RIGHTS.

                                       3
<PAGE>   4

                  In no event shall a Director's eligibility to participate or
participation in the Plan create or be deemed to create any legal or equitable
right of the Director, or any other party to continue service with the Company
or the Bank in any capacity. Without limiting the foregoing, neither a
Director's eligibility to participate in the Plan, nor the election to so
participate, shall be construed to guarantee or assure any Director of
continued service as a Director or reelection as a Director at any time.

         12.      GOVERNING LAW.

                  The Plan shall be governed by and construed in accordance
with the laws of the State of Tennessee, except to the extent that federal law
shall be deemed to apply.

Argabrite/Bank of Tennessee

                                       4

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