SEC Contract Filing

Filing Date: 2015-05-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d921528dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AVENUE FINANCIAL HOLDINGS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ANNUAL EXECUTIVE INCENTIVE PLAN </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ANNUAL BONUS AWARD AGREEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FOR </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Fiscal Year 2015
</B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;1. Establishment </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Bonus Pool Award Agreement (the &#147;Agreement&#148;) is entered into as of the &nbsp;&nbsp;&nbsp;&nbsp;day of 2015 by and between Avenue
Financial Holdings, Inc., a Tennessee corporation (the &#147;Company&#148;), and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, an individual resident of the State of
Tennessee (&#147;Participant&#148;). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;2. The Plan </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has established the Avenue Financial Holdings, Inc., Annual Executive Incentive Plan (the &#147;Plan&#148;) for certain executive
officers. Participant has been selected by the Compensation Committee of the Company&#146;s Board of Directors (the &#147;Committee&#148;) to be eligible to participate in the Plan. Participant hereby acknowledges receipt of a copy of the Plan. This
Annual Bonus Award Agreement made to Participant hereby is subject to all of the terms and conditions of the Plan, which terms and conditions are hereby incorporated by reference herein and made a part hereof. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;3. Conditions to Participation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As a condition to participate in the Plan and to receive an annual bonus award, Participant shall execute and return to the Committee a
duplicate of this Agreement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;4. Performance Based Award </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Performance-Based Award</I>. The annual bonus award evidenced by this Agreement is intended to be a performance-based award within the
meaning of the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Performance Period</I>. This award applies to the Performance Period commencing January&nbsp;1, 2015 and
ending December&nbsp;31, 2015 (the &#147;Performance Period&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Performance Targets.</I> The Committee has established
threshold, target and maximum bonus payments for the Performance Period under this annual bonus award with respect to the Participant as set forth on Appendix I attached hereto based on the Committee&#146;s determination as to whether the
Participant has satisfied the relative goals for each performance factor set forth on Appendix I. All determinations as to whether individual goals are satisfied, in whole or in part, will be made by the Committee and such determinations shall be
final. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;5. Earned Awards </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Following December&nbsp;31, 2015 and prior to payment of any amount to any Participant under the Plan, the Committee must certify in writing as
to the computation of the annual bonus award. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;6. Award Payments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On or around February&nbsp;29, 2016, and following the computation of the annual bonus award, the Participant shall be paid an amount equal to
the earned award as follows: (i)&nbsp;80% of the earned award will be payable in cash and (ii)&nbsp;20% of the award will be payable, at the Committee&#146;s discretion, in shares of restricted common stock of the Company issued pursuant to the
Company&#146;s 2012 Long Term Incentive Plan, or LTIP. Any shares of restricted common stock shall be subject to the terms and conditions of the LTIP plan. Any portion of the payment made in the form of restricted stock awards will not be
transferable by the Participant until the restrictions on such awards lapse which shall occur as to one-half of the awards if the Participant remains an employee of the Company or one of its subsidiaries on December&nbsp;31, 2016 and as to the other
half of the awards if the Participant remains an employee of the Company or one of its subsidiaries on December&nbsp;31, 2017. During the period that a