Document:

aub_Exhibit 10.14

		

			Exhibit 10.14

		

		

			Atlantic Union Bankshares Corporation

		

		

			Management Incentive Plan

		

		
			This document (the “Incentive Document”), together with the Atlantic Union Bankshares Corporation Incentive Plan Terms and Conditions (“T&C”) which are incorporated herein by reference, sets forth the Atlantic Union Bankshares Corporation Management Incentive Plan (collectively, the “Plan”).  The Plan is offered by Atlantic Union Bankshares Corporation (“Atlantic Union”), its subsidiary Atlantic Union Bank (the “Bank”), to the undersigned eligible executive (the “Participant”). 
		

		
			 
		

		
			 
		

		
			1.  Eligible Positions; Participation
		

		
			 
		

		
			Participation is limited to those executives recommended by the Chief Executive Officer (the “Plan Sponsor”) and approved by the Committee.  The Committee shall retain the discretion to include as a Participant any otherwise-eligible executive hired or promoted after the commencement of a Plan Year.     
		

		
			 
		

		
			 
		

		
			2.Basis of Incentive Compensation Awards
		

		
			 
		

		
			The Plan is a cash award plan.  The Participant’s incentive compensation award under the Plan is based on an incentive target that is approved at the beginning of the Plan Year by the Committee in its discretion.  The incentive compensation award is expressed as a percentage of the Participant’s base salary at the end of the Plan Year, and may be awarded if either or both the Atlantic Union corporate performance goals (the “Corporate Goals”) and the Participant’s individual performance goals (the “Individual Goals”) are achieved.    In no event shall a Participant receive payment under the Plan that exceeds 150% of the Participant’s base salary as of the end of the Plan Year.
		

		
			 
		

		
			 
		

		
			3.Plan Details
		

		
			 
		

		
			The amount of an incentive compensation award that the Participant is entitled to receive under the Plan is determined based on the Participant’s incentive target and weighting, achievement of the approved performance goals and taking into account individual performance specifically attributable to each participant and reflective of their role and area of responsibility.
		

		
			 
		

		
			A.Award Targets and Weightings
		

		
			 
		

		
			Each Participant shall be assigned an incentive target, calculated as a percentage of the Participant’s base salary, which may be awarded if Atlantic Union and the Participant achieve targeted performance goals.  
		

		
			 
		

		
			The incentive compensation award shall be weighted between Corporate Goals and Individual Goals.  The weightings for the two goal categories shall be recommended by the Plan Sponsor and approved by the Committee.    Threshold, target and superior achievement levels for each Corporate Goal will be recommended by the Plan Sponsor and approved by the Committee.  The payout for the threshold achievement level will be not less than 10% of the target payout, and the payout for the superior achievement level will be not more than 150% of the target payout.    
		

		
			 
		

		
			 
		

		
			 B.Corporate Goals
		

		
			 
		

		
			The Corporate Goals for the Plan Year will be recommended by the Plan Sponsor and approved by the Committee.  
		

		
			 
		

		
			

		 

		

			Page 1 of 4 

		

		

			 

		

		

			Atlantic Union Bankshares Corporation

		

		

			Management Incentive Plan

		

		

		
			C.Individual Goals
		

		
			 
		

		
			Individual Goals for the Plan Year will be established for the Participant in conjunction with his or her direct supervisor and approved by the Committee (or its delegee).
		

		
			 
		

		
			D.Determination of Incentive Compensation Award
		

		
			 
		

		
			Following the end of the Plan Year, the Committee will review performance against the Corporate Goals and any Individual Goals established for the Participant, certify in writing that the applicable performance goals were satisfied, and determine the amount of the incentive compensation award, if any, to be paid to each Participant under the Plan.  Notwithstanding any provision of the Plan to the contrary, in making this determination, the Committee may, in its discretion, in light of such considerations as it may deem relevant, increase or decrease an incentive compensation award to which a Participant would otherwise be entitled by such amount or percentage as the Committee deems appropriate.    
		

		
			 
		

		
			Unless the Committee deems otherwise, an incentive compensation award will not be earned or paid, regardless of Corporate or Individual performance, if 1) any regulatory agency issues a formal, written enforcement action, memorandum of understanding or other negative directive action to Atlantic Union or the Bank and where the Committee considers it imprudent to provide awards under the Plan, or 2) if after a review of the Bank’s credit quality measures the Committee considers it imprudent to provide awards under the Plan.  
		

		
			 
		

		
			A sample incentive compensation award calculation is set forth on the attached Appendix A.
		

		
			 
		

		
			 
		

		
			4.Payment of Awards
		

		
			 
		

		
			An incentive compensation award under the Plan will be calculated and paid in cash on an annual basis.  Payment of any incentive compensation award, less deferrals and applicable federal, state and local taxes, will be made as soon as practicable following the end of the Plan Year (the “Payment Date”), but in no event before certification of the Committee or later than March 15th following the end of the Plan Year. 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			Page 2 of 4 

		

		

			 

		

		

			Atlantic Union Bankshares Corporation

		

		

			Management Incentive Plan

		

		

		
			 
		

		
			APPENDIX A
		

		
			 
		

		
			Example Incentive Award Calculation
		

		
			 
		

		
			The following illustrates a sample incentive compensation award calculation under the Plan.  This is offered for illustration only and is not a guarantee of the occurrence or amount of any incentive compensation award to any Participant.
		

		
			 
		

		
			 
		

		
			
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			Page 3 of 4 

		

		

			 

		

		

			Atlantic Union Bankshares Corporation

		

		

			Management Incentive Plan

		

		

		
			 
		

		
			PARTICIPANT’S ACKNOWLEDGEMENT FORM
		

		
			I acknowledge that I have read and understand the T&C and the Incentive Document (collectively, the Plan) described above.  I understand that the Plan is not a contract and may be revised, amended, or terminated at any time as more fully set forth above.
		

		
			 
		

		
			PARTICIPANT:
		

		
			 
		

		
			__________________________
		

		
			Signature
		

		
			 
		

		
			 
		

		
			__________________________
		

		
			Print Name
		

		
			 
		

		
			
		

		
			__________________________
		

		
			Date
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			Please read, sign, and return a copy of the Plan to:
		

		
			 
		

		
			Head of Total Rewards
		

		
			Human Resources Department
		

		
			Interoffice Location: Richmond HQ/11th Floor
		

		
			 
		

		 

		

			Page 4 of 4aub_Exhibit 10.15

		

			Exhibit 10.15

		

		

			 

		

		
			Atlantic Union Bankshares Corporation
		

		
			Stock Ownership Policy
		

		
			Adopted January 1, 2018
		

		
			 
		

		
			Purpose
		

		
			 
		

		
			The Board of Directors (the “Board”) of Atlantic Union Bankshares Corporation (“Atlantic Union” or the "Corporation") believes that it is in the best interest of the Corporation to align the financial interests of Atlantic Union executive officers with those of the Corporation’s shareholders. In this regard, the Compensation Committee (the “Committee”) recommended and the Board adopted minimum stock ownership and retention guidelines as set forth in this Policy. The Committee may modify this Policy and these guidelines in its discretion, to the extent permitted by the Corporation’s Bylaws.
		

		
			 
		

		
			Applicability and Effective Date
		

		
			 
		

		
			This Policy is effective January 1, 2018, and supersedes the policy in effect January 31, 2013, and is applicable to any individual who is an executive officer of the Corporation, as defined in Section 16 of the Securities Exchange Act of 1934, as amended (the "Participants"). Questions regarding this Policy should be directed to the Corporation’s Chief Human Resource Officer.
		

		
			 
		

		
			Minimum Ownership Guidelines
		

		
			 
		

		
			Participants must own shares of common stock of the Corporation equal in value to the following schedule:
		

		
			 
		

			
					
						Participant

					
					
						Value of Shares Owned

				
	
					
						Chief Executive Officer

					
					
						3x Base Salary

				
	
					
						President and Chief Financial Officer 

					
					
						2x Base Salary

				
	
					
						Other Executive Officers

					
					
						1x Base Salary

				

		
			 
		

		
			Satisfaction of Guidelines
		

		
			 
		

		
			Participants may satisfy the ownership guidelines with common stock in the following categories:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			Shares owned directly

			
	
			
				 ·
			

			
	
			
			Shares owned indirectly (e.g., by a spouse or a trust) if the Participant has a pecuniary interest in such shares

			
	
			
				 ·
			

			
	
			
			Time vested restricted stock and/or restricted stock units granted under the Corporation’s incentive plans or other equity compensation arrangements

			
	
			
				 ·
			

			
	
			
			Time vested phantom stock, payable in shares, granted under the Corporation's incentive plans or other equity compensation arrangements

			
	
			
				 ·
			

			
	
			
			Shares held in benefit plans (e.g. ESOP)

		
			 
		

		
			Unexercised options and unearned performance shares are not counted toward meeting the guidelines. In addition, the minimum ownership guidelines must be satisfied exclusive of any shares hedged, pledged or held in margin accounts.
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

		

			 

		

		

		
			Accumulation Period
		

		
			 
		

		
			All Participants must accumulate the minimum number of shares to satisfy the ownership guidelines over a five- year period. The period will be measured using the calendar year. Participants identified or hired in the future shall be required to accumulate the minimum number of shares beginning on January 1st of the year following hiring or promotion.
		

		
			 
		

		
			Valuation
		

		
			 
		

		
			The Committee will review at least annually the value of a Participant’s holdings as of a selected date (the “Valuation Date”).  The holdings value to be based on the average closing price of a share of the Corporation’s common stock for the 90 day period preceding the annual valuation date, the number of shares held in compliance with the guidelines, and the Participant’s then current base salary all determined as of the Valuation Date.
		

		
			 
		

		
			Retention Ratio
		

		
			 
		

		
			If a Participant is not in compliance with this Policy at any Valuation Date, such Participant must retain 50 percent of his or her vested full value shares of the Corporation’s common stock acquired through the Corporation’s incentive plans or other equity compensation arrangements after such Valuation Date.
		

		
			 
		

		
			Stock Option Holding Period
		

		
			 
		

		
			If a Participant is not in compliance with this Policy at any Valuation Date, such Participant is prohibited from selling Corporation common stock acquired after such Valuation Date by exercising stock options. Notwithstanding the preceding sentence, Participants may immediately sell Corporation common stock acquired by exercising stock options for the limited purposes of paying the exercise price of the stock option and any applicable tax withholding.
		

		
			 
		

		
			Reporting and Compliance
		

		
			 
		

		
			Progress and compliance in achieving the minimum ownership guidelines will be reviewed at least annually and reported to the Committee.
		

		
			 
		

		
			Participants not in compliance with the minimum ownership guidelines will receive written notification from the Corporation that the Retention Ratio and Stock Option Holding Period described above will apply until the Participant provides written notification and documentation satisfactory to the Corporation indicating that he or she has come into compliance with this Policy.
		

		
			 
		

		
			The Committee may make changes to this Policy as it deems appropriate. Violations of this Policy may result in adjustments to incentive-based compensation, such as the loss of future grants of incentive plan awards.
		

		
			 
		

		
			Administration
		

		
			 
		

		
			The Committee shall be responsible for monitoring the application of this Policy. In the event of any conflict or inconsistency between this Policy and any other policies, plans, or other materials of the Corporation, this Policy shall govern.
		

		
			 
		

		 

		

			Approved: Atlantic Union Bankshares Corporation, July 30, 2018

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