First Horizon National Corporation Pension Restoration Plan

Employee Benefits Plan Agreement

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First Horizon National Corporation

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Title: First Horizon National Corporation Pension Restoration Plan
Date: 11/7/2007
Industry: BANKRG Sector: Financial

Search Employee Benefits Plan Agreement by:

Exhibit 10.7(e)

First Horizon National Corporation

Pension Restoration Plan

(Amended and Restated as of January 1, 2008)

Contents

Article 1. The Plan ................................................................................................................................1

1.1 Background of Plan ...................................................................................................................................1

1.2 Purpose of Plan ........................................................................................................................................1

1.3 Applicability of Plan ...................................................................................................................................1

Article 2. Definitions ...........................................................................................................................2

2.1 Actuarial Equivalent ...................................................................................................................................2

2.2 Affiliate .....................................................................................................................................................2

2.3 Beneficiary ...............................................................................................................................................2

2.4 Board ......................................................................................................................................................2

2.5 Change in Control .....................................................................................................................................2

2.6 Code .......................................................................................................................................................3

2.7 Committee ................................................................................................................................................3

2.8 Company .................................................................................................................................................4

2.9 Employee .................................................................................................................................................4

2.10 Employer ................................................................................................................................................4

2.11 ERISA ...................................................................................................................................................4

2.12 Normal Retirement Date ............................................................................................................................4

2.13 Participant ...............................................................................................................................................4

2.14 Pension Plan ...........................................................................................................................................4

2.15 Plan .......................................................................................................................................................4

2.16 Plan Year ...............................................................................................................................................4

2.17 Separation from Service ...........................................................................................................................4

2.18 Ten-Year Certain and Life Annuity ..............................................................................................................5

2.19 Vesting Service .......................................................................................................................................6

Article 3. Participation ......................................................................................................................7

3.1 Eligibility ..................................................................................................................................................7

3.2 Duration ...................................................................................................................................................7

Article 4. Benefits ................................................................................................................................8

4.1 Retirement Benefits ....................................................................................................................................8

4.2 Preretirement Death Benefits ......................................................................................................................10

4.3 Change in Control ....................................................................................................................................11

4.4 Permissible Delays or Accelerations ...........................................................................................................13

Article 5. Article 5. Financing .......................................................................................................14

5.1 Financing ................................................................................................................................................14

5.2 Unsecured Interest ...................................................................................................................................14

Article 6. Administration ................................................................................................................15

6.1 Administration ..........................................................................................................................................15

6.2 Appeals from Denial of Claims ...................................................................................................................15

6.3 Tax Withholding .......................................................................................................................................16

6.4 Expenses ...............................................................................................................................................16

Article 7. Adoption of the Plan by Affiliate;

Amendment and Termination of the Plan ...............................................................................17

7.1 Adoption of the Plan by Affiliate ..................................................................................................................17

7.2 Amendment and Termination ......................................................................................................................17

7.3 Successors ............................................................................................................................................17

Article 8. Miscellaneous Provisions .........................................................................................18

8.1 No Contract of Employment ......................................................................................................................18

8.2 Nonalienation of Benefits ...........................................................................................................................18

8.3 Severability ............................................................................................................................................18

8.4 Applicable Law ........................................................................................................................................18

Article 1. The Plan

1.1 Background of Plan

First Horizon National Corporation (the “Company”) presently maintains a supplemental retirement plan for eligible Employees of the Company and participating Affiliates. This plan was originally effective as of January 1, 1984, and it is known as the First Horizon National Corporation Pension Restoration Plan (the “Plan”). The Plan was previously amended and restated as of January 16, 2007.

The Plan is hereby amended and restated, effective as of January 1, 2008, to comply with the American Jobs Creation Act of 2004 and to make other related changes.

1.2 Purpose of Plan

The Plan restores benefits that are curtailed as a result of legal limits applicable to the First Horizon National Corporation Pension Plan (the “Pension Plan”).

The portion of the Plan that restores benefits affected by the limits described in Code section 415 is intended to be an “excess benefit plan” as defined in section 3(36) of ERISA. The portion of the Plan that restores benefits affected by the limit described in Code section 401(a)(17) is intended to be a plan maintained for the purposes of provided deferred compensation to a “select group of management or highly compensated employees” within the meaning of section 201(2) of ERISA.

The Plan is intended to be exempt from the participation, vesting, funding, and fiduciary requirements of Title I of ERISA.

1.3 Applicability of Plan

This Plan applies only to eligible Employees who are in the active employ of the Company or a participating Affiliate on or after January 1, 2008. Except as otherwise provided in this restatement, any Employee who was covered by the Plan as in effect before January 1, 2008 and who terminated employment before that date, shall continue to be entitled to the benefits (if any) provided under the Plan as in effect before January 1, 2008.

Article 2. Definitions

Whenever used in the Plan, the following terms shall have the meanings set forth below unless otherwise expressly provided. When the defined meaning is intended, the term is capitalized. The definition of any term in the singular shall also include the plural, whichever is appropriate in the context.

2.1 Actuarial Equivalent

“Actuarial Equivalent” means a benefit having the same value as the benefit it replaces, as determined on the basis of the actuarial equivalence assumptions in effect under the Pension Plan, as adjusted to comply with any required law changes.

2.2 Affiliate

“Affiliate” means:

(a)	any corporation while it is a member of the same “controlled group” of corporations (within the meaning of Code section 414(b)) as the Company;

(b)	any other trade or business (whether or not incorporated) while it is under “common control” (within the meaning of Code section 414(c)) with the Company;

(c)	any organization during any period in which it (along with the Company) is a member of an “affiliated service group” (within the meaning of Code section 414(m)); or

(d)	any other entity during any period in which it is required to be aggregated with the Company under Code section 414(o).

2.3 Beneficiary

“Beneficiary” means any person (natural or otherwise) designated by a Participant to receive any death benefits payable on the Participant’s behalf under the Pension Plan, or in the absence of any such designation, the person or entity determined to be the Participant’s beneficiary under the Pension Plan.

2.4 Board

“Board” means the Company’s Board of Directors.

2.5 Change in Control

“Change in Control” means the occurrence of any one of the following events:

(a)

the occurrence of an acquisition (“Acquisition”) by any individual, entity, or group (“Person”) within the meaning of section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) of beneficial ownership (within the meaning of Rule 13d−3 promulgated under the Exchange Act) of a percentage of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (“Company Voting Securities”) that is 30 percent or more of the Company Voting Securities, but excluding:

(1)	any acquisition directly from the Company (other than an acquisition by virtue of the exercise of a conversion privilege of a security that was not acquired directly from the Company),

(2)	any acquisition by the Company or an Affiliate, and

(3)	any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company or any Affiliate;

(b)	during any 12-month period, a majority of the directors who at the beginning of such period constitute the Board are replaced by directors whose appointment or election is not endorsed by a majority of the members of the Board before the date of the appointment or election;

(c)

the consummation of a merger, consolidation, reorganization, or similar corporate transaction, whether or not the Company is the surviving company in such transaction, other than a merger, consolidation, or reorganization that would result in the Persons who are beneficial owners of the Company Voting Securities outstanding immediately prior thereto continuing to beneficially own, directly or indirectly, in substantially the same proportions, at least 50 percent of the combined voting power of the Company Voting Securities (or the voting securities of the surviving entity) outstanding immediately after such merger, consolidation or reorganization; or

(d)

the sale or other disposition of the assets of the Company during any period of 12 consecutive months having a total gross fair market value equal to or more than 40 percent of the total gross fair market value of the assets of the Company and its Affiliates immediately before such sale or disposition.

The foregoing definition of “Change in Control” is intended to comply with the requirements of Code section 409A and Treasury Regulation section 1.409A-3(i)(5), and shall be interpreted and applied by the Committee in a manner consistent with this intent.

2.6 Code

“Code” means the Internal Revenue Code of 1986, as amended, or as it may be amended from time to time. A reference to a particular section of the Code shall also be deemed to refer to regulations and other regulatory guidance issued under that Code section.

2.7 Committee

“Committee” means the Administration Committee appointed by the Board to administer the Plan.

2.8 Company

“Company” means First Horizon National Corporation and any successor thereto.

2.9 Employee

“Employee” means any person who is employed by an Employer.

2.10 Employer

“Employer” means the Company and each Affiliate that has adopted this Plan for the benefit of its eligible Employees.

2.11 ERISA

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, or as it may be amended from time to time. A reference to a particular section of ERISA shall also be deemed to refer to regulations and other regulatory guidance issued under that section.

2.12 Normal Retirement Date

“Normal Retirement Date” means Normal Retirement Date as defined in the Pension Plan.

2.13 Participant

“Participant” means an Employee who has met, and continues to meet, the eligibility requirements of section 3.1.

2.14 Pension Plan

“Pension Plan” means the First Horizon National Corporation Pension Plan, as amended from time to time.

2.15 Plan

“Plan” means this First Horizon National Corporation Pension Restoration Plan, as amended from time to time.

2.16 Plan Year

“Plan Year” means the calendar year.

2.17 Separation from Service

“Separation from Service” means, subject to subsections (a) and (b), an Employee’s termination from employment with the Company and all Affiliates, whether by retirement or resignation from or discharge by the Company or an Affiliate.

(a)	A Separation from Service shall be deemed to have occurred if an Employee and the Company or any Affiliate reasonably anticipate, based on the facts and circumstances, that either:

(1)	the Employee will not provide any additional services for the Company or an Affiliate after a certain date; or

(2)	the level of bona fide services performed by the Employee after a certain date will permanently decrease to no more than 20 percent of the average level of bona fide services performed by the Employee over the immediately preceding 36 months.

(b)

If an Employee is absent from employment due to military leave, sick leave, or any other bona fide leave of absence authorized by the Company or an Affiliate and there is a reasonable expectation that the Employee will return to perform services for the Company or an Affiliate, a Separation from Service shall not occur until the later of:

(1)	the first date immediately following the date that is six months after the first date that an Employee was absent from employment; and

(2)	to the extent the Employee retains a right to reemployment with the Company or any Affiliates under applicable law or by contract, the date the Employee no longer retains a right to reemployment.

If a Participant fails to return to work upon the expiration of any military leave, sick leave, or other bona fide leave of absence where such leave is for less than six months, the Separation from Service shall occur as of the date of the expiration of such leave.

2.18 Ten-Year Certain and Life Annuity

“Ten-Year Certain and Life Annuity” means a monthly benefit payable for the life of the Participant, and if he or she dies before receiving 120 monthly payments, payments shall continue to the Participant’s Beneficiary until a total of 120 monthly payments have been made.

(a)	Death of Beneficiary . If a Beneficiary dies after payments begin to the Beneficiary, but before a total of 120 payments have been made to the Participant and the Beneficiary, the Actuarial Equivalent value of any remaining payments shall be paid in a single sum to the Beneficiary’s estate.

(b)	Death of Participant . If a Participant dies before receiving 120 monthly payments and there is no surviving designated Beneficiary, the Actuarial Equivalent value of any payments shall be paid in a single sum to:

(1)	the Participant’s surviving spouse;

(2)

if there