SEC Contract Filing

Filing Date: 2019-01-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>d682443dex104.htm
<DESCRIPTION>EX-10.4
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.4</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.4 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROMISSORY NOTE </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">December 28, 2018</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">$29,600.00</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">FOR VALUE RECEIVED, Robert B. Anderson (the &#147;<B>Borrower</B>&#148;), promises and agrees to pay to the
order of CAPSTAR BANK, a Tennessee state banking corporation (the &#147;<B>Lender</B>&#148;), at its offices in Nashville, TN, or at such other place as may be designated in writing by the holder, in lawful money of the United States of America and,
the principal sum of Twenty Nine Thousand Six Hundred dollars and no/100 ($29,600.00), together with interest from the date hereof on the unpaid principal balance outstanding from time to time hereon computed at a variable rate of interest equal to
Lender&#146;s Prime Rate. As used herein, &#147;<B>Lender&#146;s Prime Rate</B>&#148; means a base rate of interest which Lender establishes from time to time and which serves as the basis upon which effective rates of interest are calculated for
those loans making reference thereto. Any change in the rate of interest on this Note due to a change in Lender&#146;s Prime Rate shall become effective on the date each change in its Prime Rate is announced by Lender. Lender&#146;s Prime Rate is
distinct to Lender and may or may not correspond with the Federal Funds Target Rate, the Composite Prime Rate set forth in the Wall Street Journal, or any other financial institution&#146;s prime rate (the &#147;<B>Index</B>&#148;). All interest
under this Note shall be computed based upon a 360 day year for the actual number of days elapsed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Note is issued in connection
with, and subject to the terms and provisions of, the certain Letter Agreement by and between Borrower and Lender dated December 28, 2018 (the &#147;<B>Letter Agreement</B>&#148;), a copy of which is attached hereto as <U>Exhibit A</U>. Without
limiting the generality of the foregoing, the Letter Agreement specifically includes provisions related to repayment of this Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
Note shall be payable as follows: (a)&nbsp;on December 28, 2019 and December 28, 2020, Borrower shall pay to Lender a principal reduction payment equal to $9,866.66, plus all accrued and unpaid interest; and (b)&nbsp;this Note shall mature on
December&nbsp;28, 2021 (the &#147;<B>Maturity Date</B>&#148;), at which time Borrower shall pay to Lender an amount equal to all outstanding principal, plus all accrued and unpaid interest, along with any additional fees and expenses as may be due
hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Note may be prepaid in whole or in part without premium or penalty. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any of the following events shall be considered an &#147;<B>Event of Default</B>&#148; hereunder: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Principal and Interest Payments</U>. Borrower fails to pay any installment of principal or interest on this Note, or any other amount
due hereunder or under any other agreement executed in connection herewith or related hereto, within 10 calendar days of the applicable due date; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>For Cause Termination</U>. Lender terminates its employment of Borrower for cause (cause being defined as, but not limited to, fraud,
theft, embezzlement, dishonesty, disloyalty, willful neglect of duties, insubordination or any other act of comparable misconduct), as described in more detail within the Letter Agreement; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Resignation</U>. Borrower voluntarily resigns from his employment with Lender prior to the Maturity Date, as described in more detail
within the Letter Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Upon the occurrence of an Event of Default, the entire indebtedness evidenced hereby shall automatically be
immediately due and payable, without notice. Lender may waive any Event of Default before or after the same has been declared and restore this Note to full force and effect without impairing any rights hereunder, such right of waiver being a
continuing one, but one waiver shall not imply any additional or subsequent waiver. </P>
</DIV></Center>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-