Document:

a2019rsuawardandagreemen

                                                                                         Exhibit 10.1                                          MVB FINANCIAL CORP.                                    RESTRICTED STOCK UNIT GRANT NOTICE                                2013 STOCK INCENTIVE PLAN (AMENDED)     MVB Financial Corp. (the “Company”) hereby awards to Participant the number of restricted stock units (“RSUs”)    set forth below (the “Award”). The Award is subject to all the terms and conditions as set forth in this Notice, the    MVB Financial Corp. 2013 Stock Incentive Plan (Amended) (the “Plan”) and the Restricted Stock Unit Agreement    (the “Award Agreement”), both of which are attached hereto and incorporated herein in their entirety. Capitalized    terms not explicitly defined herein but defined in the Plan or the Award Agreement will have the same definitions as    in the Plan or the Award Agreement. In the event of any conflict between the terms of the Award and the Plan, the    terms of the Plan will control.               Participant Name:             Date of Grant:             Vesting Commencement Date:             Vesting Date/Schedule                  As set forth on Exhibit A             Number of RSUs:     Vesting Schedule: The Award vests as of the Vesting Date, subject to Participant’s Continuous Service with the                      Company through each such vesting date. Each installment of RSUs that vests hereunder is a                      “separate payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2).    Issuance Schedule: Subject to any change on a Capitalization Adjustment, one share of Common Stock will be                      issued for each RSU which vests at the time set forth above.  Right of First Refusal:      Right of First Refusal: Yes: ☐ No: ☐     Payable in:           Stock Only:  ☐     Additional Terms/Acknowledgements: Participant acknowledges receipt of, and understands and agrees to, this    Restricted Stock Unit Grant Notice, the Award Agreement, the Plan and the stock plan prospectus for this Plan. As    of the Date of Grant, this Restricted Stock Unit Grant Notice, the Award Agreement and the Plan set forth the entire    understanding between Participant and the Company regarding the Award and supersede all prior oral and written    agreements on the terms of the Award, with the exception, if applicable, of (i) the written employment agreement or    offer letter agreement entered into between the Company and Participant specifying the terms that should govern    this Award, and  (ii)  any compensation recovery policy that is adopted by the Company or is otherwise required by    applicable law. By accepting this Award, you consent to receive Plan documents by electronic delivery and to    participate in the Plan through an on-line or electronic system established and maintained by the Company or    another third party designated by the Company.      MVB FINANCIAL CORP.                                PARTICIPANT:     By:                          Signature                                       Signature     Title:                                              Date:        Date:       ATTACHMENTS:   Award Agreement, 2013 Stock Incentive Plan (Amended)                                                      1    Rev 5.20.2019  

 

                                                                                       Exhibit 10.1                                       MVB FINANCIAL CORP.                                  RESTRICTED STOCK UNIT GRANT NOTICE                                  RESTRICTED STOCK UNIT AGREEMENT                                                          Pursuant to the Restricted Stock Unit Grant Notice (the “Grant Notice”) and this Restricted Stock Unit  Agreement (the “Agreement”) and in consideration of your services, MVB Financial Corp. (the “Company”) has  awarded you a Restricted Stock Unit award (the “Award”) under its 2013 Stock Incentive Plan (Amended) (the  “Plan”) for the number of Restricted Stock Units indicated in the Grant Notice. Capitalized terms not explicitly  defined in this Agreement or in the Grant Notice but defined in the Plan will have the same definitions as in the  Plan. In the event of any conflict between the terms in this Agreement and the Plan, the terms of the Plan will  control.               The details of your Award, in addition to those set forth in the Grant Notice and the Plan, are as follows.               1. GRANT OF THE AWARD. This Award represents your right to be issued on a future date one share of the  Company’s Common Stock for each Restricted Stock Unit that vests.               2. VESTING.               (a) Your Restricted Stock Units will vest as provided in the Grant Notice. Vesting will cease upon       the termination of your continued and unbroken service as a full-time employee of the Company subject to       vacations, holidays, and other leave periods as provided by the Company for its employees or as provided by       law (“Continuous Service”). Any Restricted Stock Units that have not yet vested will be forfeited on the       termination of your Continuous Service.                            (b) In the event of termination of your employment in connection with a Change in Control (as set       forth below), your Award of RSUs shall immediately vest upon such termination.  Termination of your       employment shall be in connection with a Change in Control only if termination occurs within twelve (12)       months following a Change in Control and either (i) your employment is terminated by the Company other       than for Cause, or (ii) your employment is voluntarily terminated by you for Good Reason.  For purposes of       this Award, “Good Reason” means your resignation of your employment with the Company as a result of one       or more of the following reasons: (i) the Company materially reduces the amount of your base salary or the       benefits provided to you by the Company, (ii) the Company materially diminishes your authority, duties, or       responsibilities, or (iii) the Company requires you that your principal place of work will be relocated by a       distance of 50 miles or more; provided that you must deliver to the Company written notice of your       resignation for Good Reason no later than 90 days after the occurrence of any such event in order for your       resignation with Good Reason to be effective hereunder, such resignation will not be effective until the 30th       day following receipt of such written notice by the Company and such resignation shall not be deemed to be       for Good Reason hereunder unless the circumstance giving rise to your Good Reason remains uncured at the       end of such 30-day period.  With respect to any performance based RSU Award, such as a TSR-Vested RSU       or an ROA-Vested RSU, accelerated vesting upon termination of employment in connection with a Change of       Control shall be limited to the Target Number of RSUs.  The Target Number of RSUs shall mean the RSUs       that would have vested had performance of the relevant vesting conditions at the end of the vesting period       been at the same level of performance that existed on the date of the Change in Control.              3. NUMBER OF RESTRICTED STOCK UNITS & SHARES OF COMMON STOCK.             (a) The Restricted Stock Units subject to your Award will be adjusted for capitalization changes, as       provided in the Plan.                         (b) Any additional Restricted Stock Units and any shares, cash or other property that become subject to       the Award pursuant to this Section 3 will be subject, in a manner determined by the Board, to the same       forfeiture restrictions, restrictions on transferability, and time and manner of delivery as applicable to the other       Restricted Stock Units and shares covered by your Award.                                                                 2  Rev 5.20.2019  

 

                                                                                       Exhibit 10.1             (c) No fractional shares or rights for fractional shares of Common Stock will be created pursuant to this       Section 3. Any fraction of a share will be rounded down to the nearest whole share.                    4. SECURITIES LAW COMPLIANCE. You will not be issued any Common Stock underlying the Restricted Stock  Units or other shares with respect to your Restricted Stock Units unless either (i) the shares are registered under the  Securities Act, or (ii) the Company has determined that such issuance would be exempt from the registration  requirements of the Securities Act. Your Award also must comply with other applicable laws and regulations  governing the Award, and you will not receive shares underlying your Restricted Stock Units if the Company  determines that such receipt would not be in material compliance with such laws and regulations.           5. TRANSFERABILITY. Prior to the time that shares of Common Stock have been delivered to you, you may not  transfer, pledge, sell or otherwise dispose of any portion of the Restricted Stock Units or the shares in respect of  your Restricted Stock Units. This restriction on transfer will lapse upon delivery to you of shares in respect of your  vested Restricted Stock Units.                    (a) Death. Your Restricted Stock Units are not transferable other than by will and by the laws of       descent and distribution. Upon receiving written permission from the Board or its duly authorized designee,       you may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the       Company and any broker designated by the Company to effect transactions under the Plan, designate a third       party who, in the event of your death, will thereafter be entitled to receive any distribution of Common Stock       or other consideration to which you were entitled at the time of your death pursuant to this Agreement. In the       absence of such a designation, your executor or administrator of your estate will be entitled to receive, on       behalf of your estate, such Common Stock or other consideration.                         (b) Domestic Relations Orders. Upon receiving written permission from the Board or its duly       authorized designee, and provided that you and the designated transferee enter into transfer and other       agreements required by the Company, you may transfer your right to receive the distribution of Common       Stock or other consideration under your Restricted Stock Units, pursuant to the terms of a domestic relations       order or official marital settlement agreement that contains the information required by the Company to       effectuate the transfer. You are encouraged to discuss with the Company’s General Counsel the proposed       terms of any such transfer prior to finalizing the domestic relations order or marital settlement agreement to       help ensure the required information is contained within the domestic relations order or marital settlement       agreement. The Company is not obligated to allow you to transfer your Award in connection with your       domestic relations order or marital settlement agreement.                    6. DATE OF ISSUANCE.                    (a) The issuance of shares in respect of the Restricted Stock Units is intended to comply with Treasury       Regulation Section 1.409A-1(b)(4) and will be construed and administered in such a manner.                         (b) Subject to the satisfaction of the withholding obligations set forth in Section 10 of this Agreement,       in the event one or more Restricted Stock Units vests, the Company will issue to you, on the applicable       vesting date, one share of Common Stock for each Restricted Stock Unit that vests and such issuance date is       referred to as the “Original Issuance Date.” If the Original Issuance Date falls on a date that is not a business       day, delivery will instead occur on the next following business day.  However, if (i) the Original Issuance Date       does not occur (1) during an “open window period” applicable to you, as determined by the Company in       accordance with the Company’s then-effective policy on trading in Company securities, or (2) on a date when       you are otherwise permitted to sell shares of Common Stock on an established stock exchange or stock market       (including but not limited to under a previously established Company-approved 10b5-1 trading plan), and       (ii) the Company elects, prior to the Original Issuance Date, (1) not to satisfy the Withholding Taxes described       in Section 10 by withholding shares of Common Stock from the shares otherwise due, on the Original       Issuance Date, to you under this Award, (2) not to permit you to enter into a “same day sale” commitment       with a broker-dealer pursuant to Section 10 of this Agreement (including but not limited to a commitment       under a previously established Company-approved 10b5-1 trading plan) and (3) not to permit you to pay your       Withholding Taxes in cash, then the shares that would otherwise be issued to you on the Original Issuance                                                    3  Rev 5.20.2019  

 

                                                                                       Exhibit 10.1        Date will not be delivered on such Original Issuance Date and will instead be delivered on the first business       day when you are not prohibited from selling shares of the Company’s Common Stock in the open public       market, but in no event later than December 31 of the calendar year in which the Original Issuance Date       occurs (that is, the last day of your taxable year in which the Original Issuance Date occurs), or, if and only if       permitted in a manner that complies with Treasury Regulation Section 1.409A-1(b)(4), no later than the date       that is the 15th day of the third calendar month of the year following the year in which the shares of Common       Stock under this Award are no longer subject to a “substantial risk of forfeiture” within the meaning of       Treasury Regulation Section 1.409A-1(d).                    7. DIVIDENDS. Dividends and other distributions with respect to RSU’s will be withheld by the Company and  credited to your RSU Account; provided that any dividends or other distributions shall vest only if and to the extent  that the underlying RSU Award vests, as determined by the Committee. Any dividends or distributions so withheld  by the Committee and attributable to any particular share of an RSU Award shall be subject to the same restrictions  on transferability as the shares of the RSU Award with respect to which they were paid, and, if such RSU’s are  forfeited, you shall have no right to such dividends or distributions.              8. RESTRICTIVE LEGENDS. The Common Stock issued with respect to your Restricted Stock Units will be  endorsed with appropriate legends determined by the Company. Shares of stock issued by the Company hereunder  may, at the discretion of the Committee, be issued subject to a right of first refusal on the part of the Company to  purchase such shares in the event you, or your  heirs, successors, executors, administrators, or assigns should ever  desire to sell, transfer, assign, pledge, or otherwise dispose of such shares, in whole or in part (“a Disposition”).  In  any such event, the you or such heir, executor, administrator, or assign (a “Disposing Participant”) shall notify the  Company of such desire and the Company shall have, for a period of thirty (30) days following receipt of such  notice, the right and option to purchase such shares upon the same terms and conditions and at the same price as the  Disposing Participant proposes to dispose of such shares.  If the Company desires to exercise its right and option, it  shall so notify the Disposing Participant of such desire within said thirty (30) day period.  In the event the proposed  Disposition is for consideration other than cash, and the Company and the Disposing Participant cannot agree on the  cash equivalent to be paid by the Company to the Disposing Participant, the Disposing Participant may dispose of  the shares, but the shares shall remain subject to Company’s right of first refusal until such time as they are proposed  to be disposed of for cash and the Company elects not to exercise its right of first refusal.  Shares subject to a right  of first refusal shall contain the following legend:                     THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO         A  RIGHT  OF  FIRST  REFUSAL  HELD  BY  MVB  FINANCIAL  CORP.  PURSUANT  TO  MVB         FINANCIAL CORP. 2013 STOCK INCENTIVE PLAN.  A COPY OF MVB FINANCIAL CORP.         2013 STOCK INCENTIVE PLAN IS AVAILABLE FOR INSPECTION AT THE OFFICE OF THE         BANK.              9. AWARD NOT A SERVICE CONTRACT. Your Continuous Service is not for any specified term and may be  terminated by you or by the Company or an affiliate at any time, for any reason, with or without cause and with or  without notice. Nothing in this Agreement (including, but not limited to, the vesting of your Restricted Stock Units  or the issuance of the shares subject to your Restricted Stock Units), the Plan or any covenant of good faith and fair  dealing that may be found implicit in this Agreement or the Plan shall: (i) confer upon you any right to continue in  the employ or service of, or affiliation with, the Company or an affiliate; (ii) constitute any promise or commitment  by the Company or an affiliate regarding the fact or nature of future positions, future work assignments, future  compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this  Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or  Plan; or (iv) deprive the Company of the right to terminate you at will and without regard to any future vesting  opportunity that you may have.           10. WITHHOLDING OBLIGATIONS.                    (a) On each vesting date, and on or before the time you receive a distribution of the shares underlying       your Restricted Stock Units, and at any other time as reasonably requested by the Company in accordance       with applicable tax laws, you agree to make adequate provision for any sums required to satisfy the federal,                                                    4  Rev 5.20.2019  

 

                                                                                       Exhibit 10.1        state, local and foreign tax withholding obligations of the Company or any affiliate that arise in connection       with your Award (the “Withholding Taxes”). Specifically, the Company or an affiliate may, in its sole       discretion, satisfy all or any portion of the Withholding Taxes relating to your Award by any of the following       means or by a combination of such means: (i) withholding from any compensation otherwise payable to you       by the Company or an affiliate; (ii) causing you to tender a cash payment; (iii) permitting or requiring you to       enter into a “same day sale” commitment with a broker-dealer that is a member of the Financial Industry       Regulatory Authority (a “FINRA Dealer”) whereby you irrevocably elect to sell a portion of the shares to be       delivered in connection with your Restricted Stock Units to satisfy the Withholding Taxes and whereby the       FINRA Dealer irrevocably commits to forward the proceeds necessary to satisfy the Withholding Taxes       directly to the Company and/or its affiliates; or (iv) withholding shares of Common Stock from the shares of       Common Stock issued or otherwise issuable to you in connection with your Restricted Stock Units with a Fair       Market Value (measured as of the date shares of Common Stock are issued to you) equal to the amount of       such Withholding Taxes; provided, however, that the number of such shares of Common Stock so withheld       will not exceed the amount necessary to satisfy the Company’s required tax withholding obligations using the       minimum statutory withholding rates for federal, state, local and foreign tax purposes, including payroll taxes,       that are applicable to supplemental taxable income.                         (b) Unless the Withholding Taxes of the Company and/or any affiliate are satisfied, the Company will       have no obligation to deliver to you any Common Stock.                         (c) In the event the Company’s obligation to withhold arises prior to the delivery to you of Common       Stock or it is determined after the delivery of Common Stock to you that the amount of the Company’s       withholding obligation was greater than the amount withheld by the Company, you agree to indemnify and       hold the Company harmless from any failure by the Company to withhold the proper amount.                    11. UNSECURED OBLIGATION. Your Award is unfunded, and as a holder of vested Restricted Stock Units, you  will be considered an unsecured creditor of the Company with respect to the Company’s obligation, if any, to issue  shares or other property pursuant to this Agreement. You will not have voting or any other rights as a stockholder of  the Company with respect to the shares to be issued pursuant to this Agreement until such shares are issued to you.  Upon such issuance, you will obtain full voting and other rights as a stockholder of the Company. Nothing contained  in this Agreement, and no action taken pursuant to its provisions, will create or be construed to create a trust of any  kind or a fiduciary relationship between you and the Company or any other person.              12.  NON-SOLICITATION; NON-INTERFERENCE. You hereby agree that, during the term of employment with  the Company or any affiliate and for a one-year period following the termination of such employment (collectively,  the “Restricted Period”), you  will not, directly or indirectly, solicit business from any person, firm, corporation or  other entity which was a customer or supplier of Company or any affiliate during the term of your employment, or  from any successor in interest in any such person, firm, corporation or other entity for the purpose of securing  business or contracts related to the business of the Company and its affiliates. During the Restricted Period, you  shall not directly or indirectly, as employee, agent, consultant, stockholder, director, co-partner or in any other  individual or representative capacity: (a) engage, recruit or solicit for employment or engagement, any person who is  or becomes employed or engaged by Company or any of its affiliates during the Restricted Period, or otherwise seek  to influence or alter any such person’s relationship with the Company or any of its affiliates, or (b) solicit or  encourage any present or future customer or supplier of Company to terminate or otherwise alter his, her or its  relationship with Company. You acknowledge that the provisions of this section are reasonable and will not cause  you undue economic hardship.               13. OTHER DOCUMENTS. You hereby acknowledge receipt of and the right to receive a document providing  the information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan  prospectus. In addition, you acknowledge receipt of the Company’s policy permitting certain individuals to sell  shares only during certain “window” periods and the Company’s insider trading policy, in effect from time to time.           14. NOTICES. Any notices provided for in this Agreement or the Plan will be given in writing (including  electronically) and will be deemed effectively given upon receipt or, in the case of notices delivered by the  Company to you, five days after deposit in the United States mail, postage prepaid, addressed to you at the last                                                    5  Rev 5.20.2019  

 

                                                                                       Exhibit 10.1   address you provided to the Company. The Company may, in its sole discretion, decide to deliver any documents  related to participation in the Plan and this Award by electronic means or to request your consent to participate in  the Plan by electronic means. By accepting this Award, you consent to receive such documents by electronic  delivery and to participate in the Plan through an on-line or electronic system established and maintained by the  Company or another third party designated by the Company.               15. MISCELLANEOUS.                    (a) The rights and privileges granted pursuant to this Agreement may not be transferred or assigned by       any person other than the Employee, except as provided in the Plan. If any rights and obligations of the       Company under your Award are transferable to any one or more persons or entities, and all covenants and       agreements hereunder will inure to the benefit of and be enforceable by the Company’s successors and       assigns.                         (b) You agree upon request to execute any further documents or instruments necessary or desirable in       the sole determination of the Company to carry out the purposes or intent of your Award.                         (c) You acknowledge and agree that you have reviewed your Award in its entirety, have had an       opportunity to obtain the advice of counsel prior to executing and accepting your Award, and fully understand       all provisions of your Award.                         (d) This Agreement will be subject to all applicable laws, rules, and regulations, and to such approvals       by any governmental agencies or national securities exchanges as may be required.                         (e) All obligations of the Company under the Plan and this Agreement will be binding on any successor       to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger,       consolidation, or otherwise, of all or substantially all the business and/or assets of the Company.                    16. GOVERNING PLAN DOCUMENT. Your Award is subject to all the provisions of the Plan, the provisions of  which are hereby made a part of your Award, and is further subject to all interpretations, amendments, rules and  regulations which may from time to time be promulgated and adopted pursuant to the Plan. Except as expressly  provided in this Agreement, in the event of any conflict between the provisions of your Award and those of the Plan,  the provisions of the Plan will control. In addition, your Award (and any compensation paid, or shares issued under  your Award) is subject to recoupment in accordance with The Dodd–Frank Wall Street Reform and Consumer  Protection Act and any implementing regulations thereunder, any clawback policy adopted by the Company and any  compensation recovery policy otherwise required by applicable law.               17. SEVERABILITY. If all or any part of this Agreement or the Plan is declared by any court or governmental  authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this Agreement  or the Plan not declared to be unlawful or invalid. Any Section of this Agreement (or part of such a Section) so  declared to be unlawful or invalid shall, if possible, be construed in a manner which will give effect to the terms of  such Section or part of a Section to the fullest extent possible while remaining lawful and valid.           18. EFFECT ON OTHER EMPLOYEE BENEFIT PLANS. The value of the Award subject to this Agreement will not  be included as compensation, earnings, salaries, or other similar terms used when calculating the Employee’s  benefits under any employee benefit plan sponsored by the Company or any affiliate, except as such plan otherwise  expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company’s  or any affiliate’s employee benefit plans.               19. AMENDMENT. Any amendment to this Agreement must be in writing, signed by a duly authorized  representative of the Company. The Board reserves the right to amend this Agreement in any way it may deem  necessary or advisable to carry out the purpose of the grant as a result of any change in applicable laws or  regulations or any future law, regulation, interpretation, ruling, or judicial decision.                                                            6  Rev 5.20.2019  

 

                                                                                       Exhibit 10.1         20. COMPLIANCE WITH SECTION 409A OF THE CODE. This Award is intended to comply with the “short-term  deferral” rule set forth in Treasury Regulation Section 1.409A-1(b)(4). However, if this Award fails to satisfy the  requirements of the short-term deferral rule and is otherwise not exempt from, and therefore deemed to be deferred  compensation subject to, Section 409A of the Code, and if you are a “Specified Employee” (within the meaning set  forth Section 409A(a)(2)(B)(i) of the Code) as of the date of your separation from service (within the meaning of  Treasury Regulation Section 1.409A-1(h)), then the issuance of any shares that would otherwise be made upon the  date of the separation from service or within the first six months thereafter will not be made on the originally  scheduled dates and will instead be issued in a lump sum on the date that is six months and one day after the date of  the separation from service, with the balance of the shares issued thereafter in accordance with the original vesting  and issuance schedule set forth above, but if and only if such delay in the issuance of the shares is necessary to avoid  the imposition of taxation on you in respect of the shares under Section 409A of the Code. Each installment of  shares that vests is a “separate payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2).                21. NO OBLIGATION TO MINIMIZE TAXES. The Company has no duty or obligation to minimize the tax  consequences to you of this Award and will not be liable to you for any adverse tax consequences to you arising in  connection with this Award. You are hereby advised to consult with your own personal tax, financial and/or legal  advisors regarding the tax consequences of this Award and by signing the Grant Notice, you have agreed that you  have done so or knowingly and voluntarily declined to do so.                                              *        *        *        This Restricted Stock Unit Agreement will be deemed to be signed by you upon the signing by you of the  Restricted Stock Unit Grant Notice to which it is attached.                                                        7  Rev 5.20.2019  

 

                                              Exhibit A                                        MVB FINANCIAL CORP.                                       RSU VESTING SCHEDULE       PROGRAM ELEMENT                         NUMBER OF RSU’S                              VESTING   Time-Vested RSU’s                                                              100% 5-year graded vesting                                                                                 schedule:  20%  per  year  of                                                                                 continuous  service.    TSR-Vested RSU’s           ,  If Total  Shareholder  Return (“TSR”)  for  the  Company 100%  on  the 3rd Anniversary                             meets the 50th percentile of the Peer Group as defined by of the Commencement Date, if                             the Company during the entire 3-year vesting period.  If and to the extent TSR goals are                             TSR exceeds the 50th percentile of the Peer Group, but is met.                             less than 75th percentile, the number of shares of common                             stock  awarded  upon  vesting  will  be  calculated  on  a                             prorated  basis.  If  TSR  is  below  the  50th percentile,  no                             award will be granted.                               , If  TSR  for  the  Company  meets  or  exceeds  the 75th                             percentile  of  the  Peer  Group  during  the  entire 3-year                             vesting  period,  then  the  number  of  shares of  common                             stock awarded upon vesting will equal 150% of one share                             of common stock.   ROA-Vested RSU’s           , If the Return on Assets (“ROA”) in the third year of the 100% on the 3rd Anniversary of                             three-year vesting period is equal to 1.0%. If ROA exceeds the  Commencement  Date  if                             1.0%,  but  is  less  than  1.15%,  the  number  of  shares  of and  to  the  extent  ROA  goals                             common stock awarded upon vesting will be calculated on are met.                             a prorated basis.  If ROA is below 1.0%, no award will be                             granted.                              , If the  ROA in  the  third  year  of  the  three-year  vesting                             period is equal to or greater than 1.15%, the number of                             shares of common stock awarded upon vesting will equal                             150% of one share of common stock.mvbstockownershipguideli

                                                                                          Exhibit 10.2                                      MVB FINANCIAL CORP.                                STOCK OWNERSHIP GUIDELINES                           Approved by the Board of Directors:  5/21/2019     Ownership Requirement         •   Team Executives           o   President and Chief Executive Officer – Tier I - 3x annual base salary           o   Executives – Tier II - 1x annual base salary         •   Outside Directors           o   10x annual cash retainer (annual MVB Financial Corp. and MVB Bank)    The following will be used for determination of share ownership:       •   Shares owned outright by the Executive or Director, or his or her immediate family           members residing in the same household       •   Shares held in trust for the benefit of the Executive or Director, or his or her immediate family           members       •   Unvested time-based restricted stock units       •   “In-the-money” value of vested stock options    The following do not count towards satisfaction the stock ownership guidelines for determination of share  ownership:       •   Unvested stock options        •   Unvested performance-based restricted stock units      Additional share retention requirements:         •   The Human Resources and Compensation Committee (“Committee”) is responsible           for assessing compliance with the ownership guidelines.       •   Ownership will be reviewed annually and presented to the Committee, at its regularly scheduled           January meeting.        •   Shares of Company common stock purchased on the open market are valued at cost, restricted           stock and restricted stock units acquired under any Company stock incentive plan are valued at           the fair market value (as defined under the applicable equity incentive plan) on the date of grant,           and shares acquired upon the exercise of stock options and any stock purchase plan are valued at           the fair market value at the time of exercise. These values remain constant for purposes of these           Guidelines.       •   For purposes of vested stock options, “In-the-money” value will be based on the average daily           closing price in the month coincident with or immediately prior to determination.  That value will           remain fixed until revalued the following year, or until stock options are exercised.       •   Executives have five years from the date this policy is adopted, or of initial election, whichever is           greater, to meet the ownership requirements. Directors have three years from the date this           policy is adopted, or of initial election, whichever is greater, to meet the ownership requirements.           Individuals will be viewed by the Committee to be complying if they are progressing on a           consistent basis.       •   Until these Guidelines have been achieved with respect to any Executive/Director, the Company           expects the Executive/Director to show sustained progress toward meeting these Guidelines.         •   The Executive/Director shall be required to hold a minimum of 100 percent (100%) in value           (valued as set out in these Guidelines) of their annual equity awards, net of shares sold or           withheld to pay any applicable exercise price for an equity award or satisfy withholding tax           obligations arising in connection with the exercise, vesting or payment of an equity award (“Net           Shares”).       •   The Committee may consider an Executive’s/Director’s compliance with this policy or progress           towards achieving compliance with this policy in making future equity grant decisions.

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