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Exhibit 10.1
PERSONAL AND
CONFIDENTIAL
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TO:
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«FULL_NAME»
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FROM:
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C. Dowd
Ritter
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DATE:
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«DATE»
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RE:
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Performance
Unit Grant
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I am pleased to inform you as a key member of
AmSouth’s Senior Management Team that AmSouth Bancorporation
has granted you Performance Units under the 1996 Long Term
Incentive Compensation Plan (the Plan). Your Performance Units give
you a potential cash payout based on AmSouth’s performance
for the period «PERIOD» as follows:
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Performance Measure
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Threshold
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Target
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Maximum
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ROE
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«EPSThreshold»
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«ROETarget»
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«ROEMaximum»
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EPS Growth
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«EPSThreshold»
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«EPSTarget»
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«EPSMaximum»
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Total
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«TotalThreshold»
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«TotalTarget»
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«TotalMaximum»
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This grant is being made under the Plan in
conjunction with your stock option grant, and therefore has the
same effective date of «DATE». Actual payouts will be
determined based on AmSouth’s performance against its peer
banks (traditional U.S. banks with assets from $20B - $125B) over a
three year Performance Period from «DATE» through
«DATE». The performance measures will be Return on Equity
(ROE) and Earnings Per Share (EPS) Growth. ROE will be the average
for the Performance Period, and EPS Growth will be calculated as
the average of the annual growth rates over the same Performance
Period. Each performance measure will be weighted equally, and
therefore, will determine one half of the potential
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