Document:

Exhibit 10.6

 EXHIBIT 10.6 

August 11, 2010 
 Anchorage
Advisors, L.L.C. 
 610 Broadway, 6th Floor 

New York, N.Y. 10012 
 Anchorage Capital Master
Offshore, Ltd. 
 610 Broadway, 6th Floor 

New York, N.Y. 10012 
 Ladies and Gentlemen:

 Reference is made to the Second Amended and Restated Investment Agreement dated as of August 11, 2010 (as amended, supplemented or
otherwise modified from time to time, the “Investment Agreement”) by and among Carlyle Global Financial Services Partners, L.P., ACMO-HR, L.L.C. (the “Investor”) and Hampton Roads Bankshares, Inc. (the “Company”).
Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Investment Agreement. The Company and Anchorage Capital Master Offshore, Ltd. (the “Fund” and, together with the Investor,
“Anchorage”) hereby agree as follows: 
 On the First Closing Date, the Company will issue to the Anchorage Anchor Investor (i) a
warrant to purchase a number of shares equal to 2% of the sum of (A) the outstanding Common Stock of the Company as of the First Closing Date immediately after giving effect to the Closing, (B) the number of shares of Common Stock to be
issued by the Company pursuant to the Rights Offering and pursuant to any sale to the CapGen Investor of any unsubscribed shares in the Rights Offering, and (C) the number of shares of Common Stock to be issued at or simultaneously with the
Second Closing pursuant to the Transaction Documents, subject to adjustment as set forth therein, which warrant shall be exercisable immediately upon issuance thereof (the “Anchorage Closing Warrant”); and (ii) a warrant to purchase a
number of shares equal to 1% of the sum of (A) the outstanding Common Stock of the Company as of the First Closing Date immediately after giving effect to the Closing, (B) the number of shares of Common Stock to be issued by the Company
pursuant to the Rights Offering and pursuant to any sale to the CapGen Investor of any unsubscribed shares in the Rights Offering, and (C) the number of shares of Common Stock to be issued at or simultaneously with the Second Closing pursuant
to the Transaction Documents, subject to adjustment as set forth therein, which warrant shall be exercisable upon the earlier of (a) the written stay, modification, termination, or suspension by the Federal Reserve Bank of Richmond and the
Virginia Bureau of Financial Institutions of the Written Agreement and (b) the occurrence of a Sale Event (as defined in such warrant) (the “Anchorage Contingent Warrant” and together with the Anchorage Closing Warrants, the
“Anchorage Warrants”). Each such Anchorage Warrant shall be substantially in the form attached hereto as Exhibit A-1 and as Exhibit A-2, respectively. The Anchorage Warrants will be issued as an inducement for
Anchorage’s participation in the transactions contemplated by the Transaction Documents. 

 For the avoidance of doubt, (i) the issuance of the Anchorage Warrants shall not have any effect on the
amount of the expenses of the Anchorage Anchor Investor and its Affiliates to be payable by the Company pursuant to the Investment Agreement, and (ii) the parties hereto agree that the letters dated as of May 23, 2010 and June 30,
2010, between the Company and Carlyle, regarding the same subject matter, shall be superseded by this letter agreement and shall have no further effect after this letter agreement has been executed and delivered by the parties hereto. 

The Company hereby agrees and acknowledges that the registration rights set forth in the Investment Agreement are applicable to the Anchorage Warrants
and the Common Shares issuable upon exercise of the Anchorage Warrants, each of which shall be deemed to be “Registrable Securities” thereunder, and the Investor shall be deemed to be a “Holder” for purposes of such registration
rights. 
 The Company and Anchorage hereby agree to make, no later than the Effectiveness Deadline, any revisions to the Anchorage Warrants
acceptable to Anchorage and necessary in order to permit a public distribution thereof, including entering into a customary warrant agreement, appointing a warrant agent and taking such other steps as will be needed to facilitate such a public
distribution. 
 For the convenience of the parties hereto, this letter agreement may be executed in any number of separate counterparts, each
such counterpart being deemed to be an original instrument, and all such counterparts will together constitute the same agreement. Executed signature pages to this letter agreement may be delivered by facsimile and such facsimiles will be deemed as
sufficient as if actual signature pages had been delivered. 
 This letter agreement will be governed by and construed in accordance with the
Laws of the State of New York applicable to contracts made and to be performed entirely within such State. 
 [Signature page
follows] 
  

 2 

 If you agree with the foregoing, please sign and return a copy of this letter, which will
constitute our agreement with respect to the subject matter of this letter. 
  

			
	Very truly yours,
	
	HAMPTONS ROADS BANKSHARES, INC.
		
	By:	 	  

		 	Douglas J. Glenn
		 	Executive Vice-President, General Counsel and Chief Operating Officer

  

			
	 CONFIRMED AND AGREED

as of the date first above written:

	
	ANCHORAGE CAPITAL MASTER OFFSHORE, LTD.
		
	By:	 	Anchorage Advisors, L.L.C., its investment manager
		
	By:	 	  

		 	Name:
		 	Title:

  

 3Exhibit 10.7

 EXHIBIT 10.7 

August 11, 2010 
 CapGen
Capital Group VI LP 
 280 Park Avenue 

40th Floor West, Suite 401 
 New York, New York
10017 
 Ladies and Gentlemen: 

Reference is made to the Amended and Restated Investment Agreement dated as of August 11, 2010 (as may be further amended,
supplemented or otherwise modified from time to time, the “Investment Agreement”) by and between CapGen Capital Group VI LP (“CapGen”) and Hampton Roads Bankshares, Inc. (the “Company”). Capitalized
terms used herein and not otherwise defined shall have the meanings given to them in the Investment Agreement. Reference is also made to the letter agreement, dated as of June 30, 2010, between CapGen and the Company (the “June Letter
Agreement”). 
 The Company and CapGen hereby agree as follows: 

On the Closing Date, the Company will issue to CapGen: 

(i) A warrant in substantially the form attached hereto as Exhibit A-1 (the “1.0% Warrant”) to purchase Common
Shares at an exercise or strike price of $0.40 per Common Share aggregating 7,846,859 Common Shares or such greater number of shares, which in all cases, shall equal 1.0% of the outstanding Common Stock of the Company, on a fully diluted basis,
immediately after giving effect to the transactions contemplated by the Transaction Documents, including, without limitation, giving effect to the issuance of all shares of Common Stock offered pursuant to the Rights Offering and regardless of
whether purchased in the Rights Offering or pursuant to the backstop thereto, the issuance of Common Stock and warrants through the “Second Closing Date” (as defined in the Second Amended and Restated Investment Agreement, by and among
Carlyle Global Financial Services Partners, L.P., ACMO-HR, L.L.C. and the Company, as amended from time to time) and assuming the issuance of all Common Stock issuable pursuant to all outstanding warrants, which shall be exercisable beginning
immediately upon issuance; and 
 (ii) A warrant in substantially the form attached hereto as Exhibit A-2 (the
“0.5% Warrant”) to purchase Common Shares at an exercise or strike price of $0.40 per Common Share aggregating 3,923,429 Common Shares or such greater number of shares, which in all cases shall equal 0.5% of the outstanding Common
Stock of the Company, on a fully diluted basis, immediately after giving effect to the transactions contemplated by the Transaction Documents, including, without limitation, giving effect to the issuance

 
of all shares of Common Stock offered pursuant to the Rights Offering and regardless of whether purchased in the Rights Offering or pursuant to the backstop thereto, the issuance of Common Stock
and warrants through the Second Closing Date, and assuming the issuance of all Common Stock issuable pursuant to all outstanding warrants, which shall be exercisable upon the earlier of (a) the written stay, modification, termination, or
suspension by the Federal Reserve Bank of Richmond or another responsible official of the Board of Governors of the Federal Reserve System or its delegee and the Virginia Bureau of Financial Institutions of the Written Agreement and (b) the
sale of the Company or the Bank. 
 Herein, the 1.0% Warrant and the 0.5% Warrant are sometimes collectively referred to as the “CapGen
Warrants”). The CapGen Warrants will be issued as an inducement to, and in consideration of, CapGen’s participation pursuant to the Investment Agreement, as an investor in the transactions contemplated by the Transaction Documents.

 The issuance of the CapGen Warrants shall not have any effect on the amount of the expenses of CapGen and its Affiliates to
be payable by the Company in cash pursuant to the Investment Agreement. 
 The Company hereby agrees and acknowledges that the
registration rights set forth in the Investment Agreement are applicable to the CapGen Warrants and the Common Shares issuable upon exercise of the CapGen Warrants, each of which shall be deemed to be “Registrable Securities” thereunder.

 The Company and CapGen hereby agree to make, no later than the Effectiveness Deadline, any revisions to the CapGen Warrants
acceptable to CapGen and necessary in order to permit a public distribution thereof, including entering into a customary warrant agreement, appointing a warrant agent and taking such other steps as will be needed to facilitate such a public
distribution. 
 For the convenience of the parties hereto, this letter agreement may be executed in any number of separate
counterparts, each such counterpart being deemed to be an original instrument, and all such counterparts will together constitute the same agreement. Executed signature pages to this letter agreement may be delivered by facsimile or electronic copy
and such facsimiles or electronic copy will be deemed as sufficient and legally binding as if actual signature pages had been delivered. 

This letter agreement will be governed by and construed in accordance with the Laws of the State of New York applicable to contracts made
and to be performed entirely within such State. 
 This letter agreement supersedes the June Letter Agreement, which shall be of
no further force or effect as of the effectiveness hereof. 
 [Signature page follows] 

 

 -2- 

 If you agree with the foregoing, please sign and return a copy of this letter, which will
constitute our agreement with respect to the subject matter of this letter. 
  

			
	Very truly yours,
	
	HAMPTON ROADS BANKSHARES, INC.
		
	By:	 	  

		 	Douglas J. Glenn
		 	Executive Vice President, General Counsel and Chief Operating Officer

CONFIRMED AND AGREED 
 as of the date first
above written: 
  

					
	CAPGEN CAPITAL GROUP VI LP
		
		 	By: CAPGEN CAPITAL GROUP VI, LLC,
		 	ITS GENERAL PARTNER
			
		 	By:	 	  

		 		 	John P. Sullivan
		 		 	Managing Director

 [Signature Page to
CapGen Investment Letter]

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