August 23rd, 2016 Mr. G. William Beale President and Chief Executive Officer Union Bankshares Corporation Richmond, Virginia 23219 Dear Billy:Transition Agreement • August 24th, 2016 • Union Bankshares Corp • State commercial banks • Virginia
We appreciate your participation and guidance as a member of the search committee in our successful search for your successor. Now that we have identified your successor, this letter will set forth our binding agreement (herein the “Transition Agreement”) regarding the terms of your continuing role with the Company, including facilitating the leadership transition, and the terms of your service as a senior advisor to the Company following such transition.
MANAGEMENT CONTINUITY AGREEMENTManagement Continuity Agreement • August 24th, 2016 • Union Bankshares Corp • State commercial banks • Virginia
This Management Continuity Agreement, dated as of August 23, 2016 (“Agreement”), is by and between Union Bankshares Corporation, a Virginia corporation (the “Company”), and John C. Asbury (the “Executive”).
EMPLOYMENT AGREEMENTEmployment Agreement • August 24th, 2016 • Union Bankshares Corp • State commercial banks • Virginia
This Employment Agreement (the “Agreement”) is made as of August 23, 2016, by and between Union Bankshares Corporation, a Virginia corporation (the “Company”), and John C. Asbury.
