E
xhibit 10.7(k2)
AMENDMENT TO LIMITED CONFIDENTIALITY AND
NON-COMPETE AGREEMENT
THIS AMENDMENT is dated as of the _____ day of
___________, 200__, by and between First Horizon National
Corporation and FTN Financial
(collectively the “Company”) and Jim L.
Hughes (“Hughes”).
WHEREAS , the parties hereto entered into a Limited
Confidentiality and Non-Compete Agreement dated October 19, 2006
(the “Agreement”); and
WHEREAS , the parties desire to make certain technical
changes to the Agreement in order for the Agreement to be fully
compliant with Section 409A of the Internal Revenue
Code.
NOW, THEREFORE , in consideration of the premises and the
mutual covenants and agreements herein contained, and other good
and valuable consideration, the receipt and sufficiency of which
are hereby expressly acknowledged, the parties agree as
follows:
1. Paragraph
I of the Agreement is hereby amended to delete the first
sentence of such paragraph in its entirety and to substitute
in lieu thereof the following:
Beginning
January 1, 2007, and for a period of up to five (5) years
thereafter, at Hughes’s sole option, the Company will
provide office space, and an administrative assistant paid by
the Company, equipment, and supplies for Hughes in an amount
not in excess of $100,000 for each year of the five (5) year
period in the event that Hughes opts to utilize the office and
services for the full fiv
