Document:

EX-10.3

 EXHIBIT 10.3 

EXECUTIVE EMPLOYMENT AGREEMENT 

As Amended and Restated 

THIS EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of the 16th day of November, 2016,
by and between MAINSTREET BANK, a Virginia chartered bank (the “Bank”), and JEFF W. DICK (the “Executive”). This Agreement collectively refers to the Bank and the Executive as the “Parties,”
and separately may refer to either one of them as a “Party.” 
 RECITALS 

R-1. The Bank is engaged in the operation of a bank with headquarters in Fairfax, Virginia,
serving the Washington D. C. Metropolitan area. 
 R-2. The Executive has been involved in
the formation and management of the Bank and previously was involved in the management of the business and affairs of an entity similar to the Bank, and, therefore, possesses managerial experience, knowledge, skills and expertise in such type of
business. 
 R-3. The continued employment of the Executive by the Bank is in the best
interests of the Bank and the Executive. 
 R-4. The Parties have mutually agreed upon the
terms and conditions of the Executive’s continued employment by the Bank as hereinafter set forth in this Agreement as an amendment and restatement of the prior Executive Employment Agreement dated as of January 15, 2010, as amended
(“the “Prior Agreement”). 
 TERMS OF AGREEMENT 

NOW, THEREFORE, for and in consideration of this Agreement’s Recitals, the mutual promises and undertakings of the Parties as
hereinafter set forth, and other good and valuable consideration which the Parties hereby agree is sufficient, the Parties covenant and agree as follows: 

Section 1. Employment. 

(a) The Executive shall be employed as the President and Chief Executive Officer of the Bank. He shall perform such services for the
Bank and/or one or more Affiliates as may be reasonably assigned to the Executive by the Bank’s board of directors (the “Board of Directors”) from time to time, upon the terms and conditions hereinafter set forth. As President
and Chief Executive Officer, there shall be no more senior officer of the Bank. The Executive shall report to the Board of Directors and shall be managed by the Board of Directors consistently with the terms of this Agreement. Except in connection
with the termination of the Executive’s employment with the Bank, the Board of Directors shall not, without the Executive’s approval or without cause, elect any person to a corporate position superior to any of the positions held by the
Executive on November 16, 2016, or remove him from the offices of President and Chief Executive Officer of the Bank, or in any other way fail to maintain the Executive in the then highest executive position in the Bank’s organization. All
other executive officers of the Bank or its Affiliates shall, in the normal course of business, report to the Chief 

 
Executive Officer, but the Board of Directors may request and receive reports from any employee. The Executive’s duties, responsibilities and authority as President and Chief Executive
Officer of the Bank shall be commensurate with those normally undertaken by presidents and chief executive officers of banks similar to the Bank in nature and size at the time the Executive exercises such duties, responsibilities or authority.
Additionally, in exercising his duties, the Executive shall have such authority and discretion to make decisions binding upon the Bank as are reasonable and consistent with the good faith discharge of duties set forth in this Agreement and the
policies established by the Board of Directors from time to time. The Bank shall cover as an insured person the Executive for all applicable director and officer liability insurance provided to other similarly situated executives of the Bank. 

(b) References in this Agreement to services rendered for the Bank and compensation and benefits payable or provided by the Bank shall
include services rendered for and compensation and benefits payable or provided by any Affiliate. References in this Agreement to the “Bank” also shall mean and refer to each Affiliate for which the Executive performs services.
References in this Agreement to an “Affiliate” shall mean any business entity that, directly or indirectly, through one or more intermediaries, controls, or is controlled by the Bank. 

(c) The Parties recognize that the Board of Directors shall manage the business affairs of the Bank at the policy level with
consultation with the Executive as appropriate and that the Executive shall manage the day to day operations of the Bank. The relationship between the Bank and the Executive shall be that of an employer and an employee. The Board of Directors shall
have the sole authority to set and establish terms, conditions and standards applicable to the Executive subject to the terms and conditions of this Agreement. The Executive shall be nominated and endorsed by the Bank’s Board of Directors to
serve as a member of the Bank’s Board of Directors. 
 (d) Executive shall perform his duties at the Bank’s offices in
Fairfax County, Virginia. The Executive shall travel for business reasons from time to time as is reasonably necessary for the performance of his duties hereunder. 

Section 2. Term. The Initial Term of this Agreement shall commence on November 16,
2016, (the “Effective Date”), and shall continue until December 31, 2018, unless sooner terminated under the terms of this Agreement (the “Initial Term”). The first renewal term of this Agreement shall commence
on January 1, 2018, and shall end on December 31, 2019, unless earlier terminated as provided herein. This Agreement will automatically renew for successive two year terms unless either party notifies the other in writing at least three
(3) months prior to the end of the Initial Term, or at least three (3) months prior to the end of any additional two-year renewal term, that the Agreement shall not be extended beyond its current
term, or unless sooner terminated under the terms of this Agreement. The term of this Agreement, including any renewal term, is referred to as the “Term.” 

Section 3. Exclusive Service. The Executive shall devote his best efforts and full time to
rendering services on behalf of the Bank in furtherance of its best interests, except for any period or periods of time during which the Executive’s ability to discharge any of such duties and responsibilities and devote such time and attention
are impaired as a result of a mental or physical disability of his, or he is on vacation, holiday or other leave, or as otherwise agreed by the Board of Directors. The Executive shall comply with all written policies, standards and

  
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regulations of the Bank now or hereafter promulgated and communicated to the Executive, and shall perform his duties under this Agreement to the best of his abilities and in accordance with
standards of conduct generally applicable to executive officers of similarly situated banks. The obligations of this Section 3 shall not be construed to mean that the Executive shall not be a director of any other
corporation, or be associated in any way whatsoever with any educational, charitable, civic, social, recreational, youth, sports or other organization or endeavor; provided, however, during the time of his employment under this Agreement, the
Executive shall not (1) serve as an officer or director of any other entity or corporation without the express and prior approval of the Board of Directors after full disclosure by the Executive, which approval may be withheld in the Board of
Director’s absolute discretion, or (2) be employed by any organization other than the Bank or a subsidiary or Affiliate of the Bank. 

Section 4. Salary and Other Compensation. 

(a) Base Salary. As compensation while employed hereunder, the Executive, during his faithful performance of this
Agreement, in whatever capacity rendered, shall receive an initial annual base salary of $367,510 (the “Base Salary”). Effective January 1, 2017, such Base Salary shall be increased to $385,886. Such Base Salary shall be
reviewed annually by the Board of Directors, to ascertain whether such Base Salary should be increased based on the performance of and contributions made by the Executive during the preceding year, the performance of the Bank during the preceding
year, the compensation being paid to other senior executives at the Bank, inflation, and other factors deemed appropriate. 
 (b)
Incentive Compensation. 
 (1) As additional compensation, the Executive shall be eligible to receive from the Bank either
(i) an annual cash bonus in an amount, if any, determined by the Board of Directors in its discretion or (ii) an annual performance-based incentive bonus earned under the MainStreet Bank Executive Incentive Plan (or any successor plan).

 (2) Clawback. Executive agrees that any incentive compensation (as determined by the Bank) that Executive receives from the Bank
or any Affiliate pursuant to this Agreement or otherwise is subject to repayment to (i.e., clawback by) the Bank or any Affiliate as required by federal law and on such basis as the Bank determines. Except where offset of, or recoupment from,
compensation covered by Code Section 409A (as defined in Section 21) is prohibited by Code Section 409A, to the extent allowed by law and as determined by the Bank, Executive agrees that such repayment may, in the discretion of the
Bank, be accomplished by withholding of future compensation to be paid to Executive by the Bank or any Affiliate. Any recovery of compensation covered by Code Section 409A shall be implemented in a manner which complies with Code
Section 409A. 
 (c) If the Bank were to implement either a deferred compensation program, supplemental executive retirement
plan or the like for its senior executives then the Executive will be entitled to participate in the implemented program at levels no lower than other senior executives of the Bank. 

  
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 (d) The Bank will pay to the Executive the Base Salary as provided in
Section 4(a) in appropriate installments to conform to the Bank’s regular payroll dates which shall be at least monthly. Further, the Bank will pay to the Executive the Base Salary and all other amounts set forth in
this Agreement less appropriate deductions as required by law, or otherwise permitted by the Executive. The Bank shall also withhold and remit to the proper party any amounts agreed to in writing by the Bank and the Executive for participation in
any corporate sponsored benefit plans for which a contribution is required. 
 (e) Except as otherwise expressly set forth hereunder,
no compensation shall be paid pursuant to this Agreement in respect of any month or portion thereof subsequent to any termination of the Executive’s employment by the Bank. 

Section 5. Corporate Benefit Plans. 

(a) General. In addition to those matters set forth in this Agreement, during his employment hereunder, the
Executive and, to the extent applicable, Executive’s spouse, dependents and beneficiaries shall be entitled to participate in or become a participant in all employee benefit plans and programs, including improvements or modifications of the
same, maintained by the Bank (including but not limited to the benefits of certain pension and other retirement benefit plans, profit sharing, stock option, or other plans, benefits, and privileges) and available to other executives of the Bank that
includes the Executive, on a basis not less favorable than that provided to such class of employees. 
 (b) Vacation and Other
Leave. Upon execution of this Agreement, the Executive shall be entitled to twenty-five (25) days of paid vacation annually (the “Vacation Leave”). Executive shall take at least two (2) consecutive weeks of
vacation annually that will not overlap with any vacation or planned leave taken by the President and Chief Executive Officer of the Bank. In addition to the Vacation Leave, the Executive shall accrue additional days of paid leave annually
(“Paid Leave Time”) according to the Paid Leave section of the Bank’s Employee Handbook. The Executive shall not at any one time take more than ten (10) consecutive business days of Vacation Leave, Paid Leave Time or
combination thereof without the prior approval of the Board of Directors. The Executive shall further be entitled to the number of paid holidays and leaves for illness or temporary disability in accordance with the Bank’s policies for its
senior executives. 
 (c) Health and Disability Insurance. During the term of his employment, the Executive
shall be entitled to participate in the medical (including hospitalization), dental, life and disability plans, to the extent offered by the Bank, and in amounts consistent with the Bank’s policy, for other senior executive officers of the
Bank, with premiums for all such insurance for the Executive and his dependents to be paid by the Bank in accordance with normal payroll practices but at least monthly. 

(d) Life Insurance. The Bank will obtain, and maintain at all times during the term of the Executive’s
employment, a group term insurance policy on the Executive’s life in an amount equal to two times his base salary under the Virginia Bankers Association group term life insurance program. The Bank will pay the premiums on this policy in
accordance with normal payroll practices but at least monthly. The Executive will have the right to designate the beneficiary of the policy. 

  
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 Section 6. Expense Account and Use of Car. 

(a) General. The Bank shall reimburse the Executive for all reasonable and documented business expenses incurred
in the conduct of the Bank’s business. Such expenses will include business meals, out-of-town lodging and travel expenses, and memberships in professional
organizations and costs to attend meetings and conventions of business-appropriate organizations and associations. The Executive agrees to timely submit records and receipts and, as may be required by the Board of Directors, explanations of
reimbursable items and agrees that the Bank can adopt reasonable rules and policies regarding such reimbursement. The Bank agrees to make prompt payment to the Executive following receipt and verification of such reports. 

(b) Use of Car. During the term of this Agreement, the Bank shall provide Executive with a car, for business and
private travel in accordance with currently applicable Bank policy, and shall pay all running costs (for example, fuel, insurance, tax, service and maintenance). Executive’s spouse may also use the car. 

(c) Reimbursements and In-kind Benefits. All reimbursements and in-kinds benefits payable under this Agreement shall be made in accordance with the Bank’s written policies. If any reimbursement or in-kind benefit is subject to
Internal Revenue Code (the “Code”) Section 409A (as defined in Section 21), then such reimbursement or in-kind benefit shall comply with the applicable
requirements of Section 21, including the timing of payment and other provisions set forth in Section 21(d). 

Section 7. Termination and Termination Benefits. Notwithstanding the provisions of
Section 2, the Executive’s employment hereunder shall terminate under the following circumstances and shall be subject to the following provisions: 

(a) Death. If the Executive dies during the term of this Agreement, the Bank shall continue to pay to the
Executive’s estate an amount equal to the Executive’s then current Base Salary for 12 months after the Executive’s death with such payments to be made on the same periodic dates as salary payments would have been made to the Executive
had he not died. In addition, the Bank shall pay to the estate of the Executive within 60 days of the Executive’s death, any unpaid compensation or benefits, including accrued annual bonus, if any, which otherwise would have been payable to the
Executive through the end of the month in which his death occurs. In addition, upon the death of the Executive during the term of this Agreement, all of Executive’s unvested equity awards that were granted to the Executive by the Bank as
compensation and that have not previously been forfeited, exercised or settled will immediately vest upon the Executive’s death notwithstanding any provision in an equity award agreement to the contrary. 

(b) Disability. The Bank may terminate the Executive’s employment hereunder, after having established the
Executive’s Disability, by giving to the Executive written notice of the Bank’s intention to terminate the Executive’s employment for Disability. The Executive’s employment with the Bank shall terminate effective on the 90th day
after the Executive’s receipt of such notice if within 90 days after such receipt the Executive shall fail to return to the full-

  
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time performance of the essential functions of his position. If the Executive’s employment hereunder is terminated due to the Executive’s Disability, then all compensation and benefits
payable to the Executive shall cease on the date of termination; provided, however, that the Bank shall pay to the Executive within 60 days of the date of termination any accrued but unpaid compensation, including accrued annual bonus, if any, which
otherwise would have been payable to the Executive through the date of termination. In addition, all of Executive’s unvested equity awards that were granted to the Executive by the Bank as compensation and that have not previously been
forfeited, exercised or settled will immediately vest on the date of termination notwithstanding any provision in an equity award agreement to the contrary. 

(c) Termination by the Bank For Cause. The Bank may terminate the Executive’s employment hereunder For Cause,
in which event the Bank may elect to terminate the Executive’s employment immediately or upon the expiration of a set period not to exceed 30 days, as set forth in a written notice to the Executive. During any such period between the
Executive’s receipt of such notice and the date of termination, the Executive may be relieved of his duties as specified herein and assigned alternate duties by the Board of Directors. If the Executive’s employment hereunder is terminated
by the Bank For Cause, then all compensation and benefits payable to the Executive shall cease on the date of termination; provided, however, that the Bank shall pay to the Executive within 60 days of the date of termination any accrued but unpaid
compensation, including accrued annual bonus, if any, which otherwise would have been payable to the Executive through the date of termination. 

(d) Termination by the Bank Without Cause. The Bank may terminate the Executive’s employment hereunder
Without Cause, in which event the Bank may elect to terminate the Executive’s employment immediately or upon the expiration of a set period not to exceed 30 days, as set forth in a written notice to the Executive. During any period between the
Executive’s receipt of such notice and the date of termination, the Executive may be relieved of his duties as specified herein and assigned alternate duties by the Board of Directors. 

(i) If the Bank terminates the Executive’s employment hereunder Without Cause and not within one year following a Change of Control, then,
subject to Section 7(f), the Executive shall receive, in a lump sum on the 60th day following the date of termination, an amount equal to the greater of:
(A) the sum of his then current Base Salary for one year plus the average of any annual bonus payments made to the Executive during the three-year period ending on the date of termination, (B) the sum of his then current Base Salary
for the balance, if any, of the Initial Term plus the average of any annual bonus payments made to the Executive during the three-year period ending on the date of termination, or (C) 299% of the Executive’s “annualized includible
compensation for the base period” as defined in Code Section 280G. In addition, all of Executive’s unvested equity awards that were granted to the Executive by the Bank as compensation and that have not previously been forfeited,
exercised or settled will immediately vest on the date of termination notwithstanding any provision in an equity award agreement to the contrary. All benefits shall cease on the date of termination. 

  
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 (ii) If the Bank terminates the Executive’s employment hereunder Without Cause within
one year following a Change of Control, then, subject to Section 7(f), the Executive shall receive, in a lump sum within 30 days following the date of termination, an amount equal to the greater of: (A) the sum
of his then current Base Salary for one year plus the average of any annual bonus payments made to the Executive during the three-year period ending on the date of termination, (B) the sum of his then current Base Salary for the balance, if
any, of the Initial Term plus the average of any annual bonus payments made to the Executive during the three-year period ending on the date of termination, or (C) 299% of the Executive’s “annualized includible compensation for the base
period” as defined in Code Section 280G. In addition, all of Executive’s unvested equity awards that were granted to the Executive by the Bank as compensation and that have not previously been forfeited, exercised or settled will
immediately vest on the date of termination notwithstanding any provision in an equity award agreement to the contrary. All benefits shall cease on the date of termination. 

(e) Termination by the Executive. The Executive may terminate his employment hereunder by written notice to the
Bank effective not less than 60 days after the Bank’s receipt of such notice; provided, however, that subsequent to receipt of such notice, the Executive may be relieved of his duties and assigned alternate duties by the Board of Directors.

 (i) Termination by the Executive For Good Reason and Not Within One Year Following Change of Control. If the Executive terminates
his employment hereunder For Good Reason and not within one year following a Change of Control, then he shall receive the same compensation and benefits upon termination (including accelerated vesting of equity awards) that he would receive if he
were terminated Without Cause and not within one year following a Change of Control as specified in Section 7(d)(i). 

(ii) Termination by the Executive For Good Reason Within One Year Following Change of Control. If the Executive terminates his
employment hereunder For Good Reason within one year following a Change of Control, he shall receive the same compensation and benefits upon termination (including accelerated vesting of equity awards) that he would receive if he were terminated
Without Cause within one year following a Change of Control as specified in Section 7(d)(ii). 
 (iii)
Termination by the Executive other than For Good Reason. If the Executive terminates his employment hereunder other than For Good Reason, then all compensation and benefits payable to the Executive shall cease on the date of termination;
provided, however, that the Bank shall pay to the Executive within 60 days of the date of termination any accrued but unpaid compensation, including accrued annual bonus, if any, which otherwise would have been payable to the Executive through the
date of termination. 
 (f) Limitations on Termination Compensation. Notwithstanding anything in this Agreement
to the contrary: 
  

	 	(i)	 If the Executive is at anytime in breach of either Section 10 or
Section 11 of this Agreement, then the Executive shall not thereafter be entitled to receive any amounts payable pursuant to Section 7(d)(i), 7(d)(ii), 7(e)(i) or 7(e)(ii) (“Termination
Compensation”), and none of the Executive’s unvested equity awards will be subject to accelerated vesting. In addition, if such breach occurs within 12 months following the date of termination, the Executive shall repay to the Bank any
Termination Compensation received and all vested stock previously received as compensation, and any outstanding equity awards that were granted to the Executive by the Bank as compensation will be forfeited to the Bank. 

  
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	 	(ii)	 If the Executive engages in any activity seeking to establish a Competitive Business in the Trade Area during
the Non-Compete Period (as defined in Section 11(a) below), the Executive shall not be entitled to any Termination Compensation, the Executive shall repay to the Bank any Termination
Compensation received and all vested stock previously received as compensation, and any outstanding equity awards that were granted to the Executive by the Bank as compensation will be forfeited to the Bank. 

 

	 	(iii)	 The Bank shall not be required to make payment of the Termination Compensation or any portion thereof to the
extent such payment is prohibited by applicable banking regulations or to the extent that any other governmental approval of the payment required by law is not received. 

(g) Definitions. For purposes of this Agreement, the following terms have the following meanings: 

 

	 	(i)	 “Cause” shall mean: 

 

	 	(1)	 Gross incompetence, gross negligence, willful misconduct, or breach of a material fiduciary duty owed to the
Bank; 

  

	 	(2)	 Conviction of a felony, a crime of moral turpitude, commission of an act of embezzlement or fraud against the
Bank or any subsidiary or Affiliate thereof, the commission of repeated misdemeanors, or other willful misconduct that materially adversely affects the business or reputation of the Bank; 

 

	 	(3)	 Failure to cure a material breach by the Executive of a material term of this Agreement after 10 days written
notice of the breach; 

  

	 	(4)	 Deliberate dishonesty of the Executive with respect to the Bank or any subsidiary or Affiliate thereof; or

  

	 	(5)	 Permanent disbarment or suspension of the Executive by any regulatory body or agency lasting more than sixty
(60) days. 

  
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 (ii) Change of Control. “Change of Control” shall mean the
occurrence of any of the following events: 
 (1) Merger: The Bank or MainStreet Bancshares, Inc. (the “Company” or the
“Guarantor”) merges into or consolidates with another entity, or merges another bank or corporation into the Bank or the Company, and as a result, less than a majority of the combined voting power of the resulting corporation
immediately after the merger or consolidation is held by persons who were stockholders of the Bank or the Company immediately before the merger or consolidation; 

(2) Acquisition of Significant Share Ownership: A person or persons acting in concert has or have become the beneficial owner of 25% or more
of a class of the Bank’s or the Company’s voting securities; provided, however, this clause (2) shall not apply to beneficial ownership of the Bank’s or the Company’s voting shares held in a fiduciary capacity by an entity
of which the Bank or the Company directly or indirectly beneficially owns 50% or more of its outstanding voting securities; 
 (3) Change in
Board Composition: Individuals who constitute the Bank’s or the Company’s Board of Directors on the Effective Date hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof, provided
that any person becoming a director subsequent to the Effective Date whose election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board shall be considered, for purposes of this clause (3), as though he
or she was a member of the Incumbent Board; or 
 (4) Sale of Assets: The Bank or the Company sells to a third party all or substantially
all of its assets. 
 The definition of Change of Control shall be construed to be consistent with the requirements of Section 409A of
the Code, and Treasury Regulations promulgated thereunder. 
  

	 	(iii)	 “Disability” means either (i) disability which after the expiration of more than 13
consecutive weeks after its commencement is determined to be total and permanent by a physician selected and paid for by the Bank or its insurers, and acceptable to the Executive or his legal representative, which consent shall not be unreasonably
withheld or (ii) disability as defined in the policy of disability insurance maintained by the Bank or its Affiliates for the benefit of the Executive, whichever may be more favorable to the Executive. Notwithstanding any other provision of
this Agreement, the Bank shall comply with all requirements of the Americans with Disabilities Act, 42 U.S.C. § 12101 et seq. 

  
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	 	(iv)	 “For Good Reason” shall mean: 

 

	 	(1)	 Except as provided herein, the assignment of duties and responsibilities to the Executive by the Bank which are
inconsistent with the position referred to in Section 1(a) above or which result in the Executive’s having significantly less authority or responsibility than he has on the date hereof, without his advance and express
written consent; 

  

	 	(2)	 The removal of the Executive from or any failure to re-elect him to the
positions of President and Chief Executive Officer of the Bank or President and Chief Executive Officer of the Company, other than for Cause; 

  

	 	(3)	 The removal of the Executive from the Board of Directors of the Bank or the Company, the Executive’s
failure to be re-elected by the Company’s shareholders to continue to serve as a member of the Board of Directors of the Company for a new term of office beyond his then current term of office as a
director even after the Board of Directors of the Company shall have nominated the Executive for such additional term of office, any failure of the Executive to be endorsed and recommended by the Company for
re-election to the Company’s Board of Directors, or any failure of the Executive to be endorsed and recommended by the Bank for re-election to the Bank’s Board
of Directors; 

  

	 	(4)	 A reduction by the Bank of the Executive’s annual Base Salary unless salaries for all employees are
reduced, and the Executive’s salary is reduced proportionately; 

  

	 	(5)	 The failure of the Bank to provide the Executive with substantially the same fringe benefits that are provided
Executive at the inception of his employment; except as a result of severe financial distress that leads to a general decrease in the level of benefits of all or substantially all of the Bank’s employees; 

 

	 	(6)	 Failure to cure a material breach by the Bank of a material term of this Agreement after 30 days written notice
of the breach; 

  

	 	(7)	 Failure by any successor entity (an entity that assumes the assets or business of the Bank pursuant to
an acquisition of any kind including, without limitation, acquisition of assets or merger) to assume and agree to perform this Agreement in its entirety; or 

 

	 	(8)	 The occurrence of a Change of Control. 

  
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	 	(v)	 “Without Cause” shall mean termination of the Executive’s employment hereunder by the
Bank for any reason other than upon Disability or For Cause. 

 Section 8. Other Provisions Relating to
Termination. 
 (a) Notwithstanding the termination of the Executive’s employment pursuant to any provision of this
Agreement, the Parties shall be required to carry out any provisions of this Agreement which contemplate performance by them subsequent to such termination. In addition, no termination shall affect any liability or other obligation of either Party
which shall have accrued prior to such termination, including, but not limited to, any liability, loss or damage on account of breach, subject to the limitation on damages set forth below. No termination of employment shall terminate the obligation
of the Bank to make payments of any vested benefits provided hereunder or the obligations of the Executive under Sections 10, 11, and 12. 

(b) Notwithstanding anything herein to the contrary, the Executive acknowledges and agrees that the payment by the Bank of the
Termination Compensation shall constitute liquidated damages for, and shall be the Executive’s sole and exclusive remedy for, (1) the termination of the Executive by the Bank Without Cause or (2) the occurrence of any fact or
circumstance constituting Good Reason, including without limitation any breach of this Agreement by the Bank. The parties agree that it would be difficult or impossible to ascertain damages in the event of a breach by the Bank and, accordingly, the
parties have, through negotiation of this Agreement, established liquidated damages which they agree are a fair estimate of damages and not a penalty. 

(c) It is the intention of the Parties that no payment be made or benefit provided to the Executive pursuant to this Agreement that
would constitute an “excess parachute payment” within the meaning of Section 280G of the Code and any regulations thereunder, thereby resulting in a loss of an income tax deduction by the Bank or the Company, or the imposition of an
excise tax on the Executive under Section 4999 of the Code. If the independent accountants serving as auditors for the Bank on the date of a Change of Control (or any other accounting firm designated by the Bank only because such determination
by the auditors would be violative of auditor independence rules) determine that some or all of the payments or benefits scheduled under this Agreement, as well as any other payments or benefits on a Change of Control, would be nondeductible by the
Bank or the Company under Section 280G of the Code, then the payments scheduled under this Agreement will be reduced to one dollar less than the maximum amount which may be paid without causing any such payment or benefit to be nondeductible.
The determination made as to the reduction of benefits or payments required hereunder by the independent accountants shall be binding on the Parties. Any reduction of benefits or payments required to be made under this
Section 8(c) will be taken pro rata in the following order: first from payments or benefits that are equity compensation and, if necessary, second from payments or benefits that are cash compensation. 

(d) Notwithstanding any other provision of this Agreement, no payments or benefits under this Agreement that are subject to Code
Section 409A (as defined in Section 21) and that are to be paid upon the Executive’s termination of employment shall be paid or provided to the Executive until the Executive has experienced a “separation from
service”, as described in Section 21(c). Any such payments or benefits shall also be subject to the delay provisions in Section 21(c), if applicable. 

  
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 Section 9. Suspension. 

If the Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served
pursuant to the Federal Deposit Insurance Act, then the Bank’s obligations under this Agreement shall be suspended as of the date of service unless the Executive’s suspension or prohibition is stayed by appropriate proceedings. If the
charges in the notice are dismissed, then the Bank (i) will pay to the Executive all of the compensation withheld while the Bank’s contract obligations were suspended, and (ii) reinstate (in whole) any of its obligations which were
suspended. Nothing in this Section 9 shall be construed to limit the Bank’s right, pursuant to Section 7(g)(i)(5) to declare a suspension of the Executive lasting longer than sixty
(60) days as Cause for termination. 
 Section 10. Confidentiality/Nondisclosure. The
Executive covenants and agrees that any and all information concerning the customers, businesses and services of the Bank or the Company of which he has knowledge or access as a result of his association with the Bank or the Company in any capacity
(including, without limitation, information concerning the Bank’s or the Company’s trade secrets, business operations and operating methods, business records, customer lists or other customer information, research projects, costs, pricing,
financial data, business plans and proposals, data and information the Bank or the Company receives in confidence from any other party and, or any other information which is treated as confidential by the Bank or the Company) (“Confidential
Information”) is the sole and exclusive property of the Bank or the Company. The Executive shall not, without the prior written consent of the Bank or the Company, directly or indirectly use, disseminate, disclose or publish such
Confidential Information to third parties other than in connection with the usual conduct of the business of the Bank or the Company. Such information shall expressly include, but shall not be limited to, information concerning the Bank’s or
the Company’s trade secrets, business operations, business records, customer lists or other customer information. Upon termination of employment, the Executive shall deliver to the Bank or the Company all originals and copies of documents,
forms, records or other information in Executive’s possession, in whatever form it may exist, concerning the Bank or the Company or their business, customers, products or services, without retaining any copies. The Bank shall have the right to
review the Executive’s personal files, on demand, to evaluate compliance with this provision. In construing this provision it is agreed that it shall be interpreted broadly so as to provide the Bank or the Company with the maximum protection.
This Section 10 shall not be applicable to any information which, through no misconduct or negligence of the Executive, has previously or subsequently been disclosed to the public by anyone other than the Executive. The
provisions of this Section 10 shall expressly survive termination of this Agreement for any reason, including breach of this Agreement by the Bank or the Company. 

Section 11. Covenants Not to Compete and Not to Solicit. 

(a) The Executive covenants and agrees that during the term of his employment, and for a period of twelve (12) months from and
after the date that the Executive ceases to be employed by the Bank (the “Non-Compete Period”) for any reason other than for “cause”, he will not, directly or
indirectly, in any individual or representative capacity whatsoever be directly or indirectly 

  
 12 

 
employed by a Competitive Business as an employee, consultant or in any other capacity to provide or undertake those duties customarily performed by any executive, including a vice-president, or
senior loan officer of the Bank anywhere within a thirty-five (35) air mile radius of any office operated by the Bank on the date the Executive’s employment terminates (the “Trade Area”); Additionally, the Executive
covenants and agrees that during the term of his employment, and for a period of twelve (12) months from and after the date that the Executive ceases to be employed by the Bank for any reason, during the
Non-Compete Period, he will not, directly or indirectly, in any individual or representative capacity whatsoever: (i) solicit, or assist any other person or business entity in soliciting, any depositors or
other customers of the Bank to make deposits in or to become customers of any other financial institution conducting a Competitive Business; or (ii) knowingly induce any individuals to terminate their employment with the Bank or its Affiliates,
each of the aforesaid activities described in this paragraph 11(a) being deemed a “Competitive Activity”. The term “Competitive Business” means provision of those banking products and services that are substantially
similar to those offered by the Bank on the date that the Executive’s employment terminates. The Executive further agrees that if the Executive violates this Section 11 during the
Non-Compete Period, the Non-Compete Period shall be extended by an amount of time equal to the length of the period of any such violation(s). 

(b) The Executive hereby covenants and warrants that the covenants and restrictions set forth in
Section 11(a) are the product of negotiation between the Executive and the Bank and, in light of the Executive’s position as a founding Director and President and Chief Executive Officer of the Bank, are reasonable (as
to geographic scope, scope of activity, and duration) and necessary for the protection of the Bank’s legitimate business interests, including the protection of the significant investment of the Bank in developing, maintaining and expanding its
business. The Executive represents and warrants to the Bank and the Company that the covenants and restrictions set forth in Section 11(a) do not and will not unreasonably interfere with the Executive’s ability to earn
a livelihood. 
 Section 12. Injunctive Relief, Damages, Etc. 

(a) The Parties agree that in the event of any breach by the Executive of any of the provisions of Sections 10 or 11 that
monetary damages alone will not adequately compensate the Bank for its losses and, therefore, that it may seek any and all legal or equitable relief available to it, specifically including, but not limited to, injunctive relief. The covenants
contained in Sections 10 and 11 shall be construed and interpreted in any judicial proceeding to permit their enforcement to the maximum extent permitted by law. Should a court of competent jurisdiction determine that any provision of
the covenants and restrictions set forth in Section 11 is unenforceable as being overbroad as to time, area or scope, then the Parties agree that they shall enter into an amendment to this Agreement for the purpose of
rendering such provision enforceable to the maximum extent permitted by law. The Parties acknowledge and agree that the foregoing obligation to amend this Agreement shall survive the entry of any order or decree finding
Section 11 to be unenforceable. 
 (b) Nothing in this Section 12 will limit the
right of a Party to obtain from a court of competent jurisdiction any equitable relief such as an injunction, nor shall this Section 12 be construed to impair or otherwise affect any indemnification rights either Party may
have against the other arising under the Bank’s articles of incorporation or bylaws or pursuant to any other written agreement between the Parties not superseded by this Agreement. 

  
 13 

 Section 13. Binding Effect/Assignability.
This Agreement shall be binding upon and inure to the benefit of the Bank and the Executive and their respective heirs, legal representatives, executors, administrators, successors and assigns, but neither this Agreement, nor any of the rights
hereunder, shall be assignable by the Executive or any beneficiary or beneficiaries designated by the Executive. The Bank will require any successor (whether direct or indirect, by purchase, merger, consolidation, share exchange or otherwise) to all
or substantially all of the business, stock or assets of the Bank (a “Successor Entity”), by agreement in form and substance reasonably satisfactory to the Executive, to expressly assume and agree to perform this Agreement in its
entirety. 
 Section 14. Governing Law. This Agreement shall be subject to and construed in
accordance with the laws of the Commonwealth of Virginia, without giving effect to its principles of conflict of laws. 

Section 15. The parties will enter into a separate indemnification agreement regarding the Executive’s status
as a Bank director and officer. 
 Section 16. Invalid Provisions. The invalidity or
unenforceability of any particular provision of this Agreement shall not affect the validity or enforceability of any other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provisions were
omitted. 
 Section 17. Notices. Any and all notices, designations, consents, offers,
acceptance or any other communications provided for herein (“Notices”) shall be given in writing and shall be deemed properly delivered if delivered in person or (i) in the case of Notices deliverable to the Bank, by overnight
delivery by a reputable carrier or in person to Corporate Counsel for MainStreet Bank, Edward Crosland, Esq., Jones Walker LLP, 1227 25th St, NW Suite #200, Washington DC 20037; FAX# 202-434-4661 , and (ii) in the case of Notices to the Executive, by overnight delivery by a reputable carrier, addressed to his last known address. 

Section 18. Entire Agreement. 

(a) This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes any and
all other agreements, either oral or in writing, among the Parties, including the Prior Agreement, with respect to the subject matter hereof. 

(b) This Agreement may be executed in one or more counterparts, each of which shall be considered an original copy of this Agreement,
but all of which together shall evidence only one agreement. 
 Section 19. Amendment and Waiver.
This Agreement may not be amended except by an instrument in writing signed by or on behalf of each of the Parties. No waiver of any provision of this Agreement shall be valid unless in writing and signed by the person or Party to be charged.

  
 14 

 Section 20. Interpretation. The meaning
assigned to each term defined in this Agreement will be equally applicable to both the singular and the plural forms of the term. Whenever the context may require, any pronoun will include the corresponding masculine, feminine and neuter forms. The
headings in this Agreement are for reference only and will not affect this Agreement’s interpretation. Underscored references to Articles, Sections, Subsections, clauses, Exhibits or Schedules refer to those portions of this Agreement, and any
underscored references to a Subsection or clause, unless otherwise identified, refer to the appropriate Subsection or clause within the same Section in which the reference occurs. The Parties have participated jointly in the negotiation and drafting
of this Agreement. In the event an ambiguity or question of intent or interpretation arises, then this Agreement will be construed as if drafted jointly by the Parties, and no presumption or burden of proof will arise favoring or disfavoring any
Party by virtue of the authorship of any provisions of this Agreement. 
 Section 21. Code
Section 409A Compliance. 
 (a) The intent of the parties is that payments and benefits
under this Agreement comply with Section 409A of the Internal Revenue Code of 1986, as amended, and applicable guidance thereunder (“Code Section 409A”) or comply with an exemption from the application of
Code Section 409A and, accordingly, all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. 

(b) Neither the Executive nor the Bank shall take any action to accelerate or delay the payment of any monies and/or provision of any
benefits in any matter which would not be in compliance with Code Section 409A. 
 (c) A termination of employment shall not be
deemed to have occurred for purposes of any provision of this Agreement providing for the form or timing of payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from
service” (within the meaning of Code Section 409A) and, for purposes of any such provision of this Agreement under which (and to the extent) deferred compensation subject to Code Section 409A is paid, references to a
“termination” or “termination of employment” or like references shall mean separation from service. A “separation from service” shall not occur under Code Section 409A unless such Executive has completely severed
his relationship with the Bank or the Executive has permanently decreased his services to 20% or less of the average level of bona fide services over the immediately preceding 36 month period (or the full period if the Executive has been providing
services for less than 36 months). A leave of absence shall only trigger a termination of employment that constitutes a separation from service at the time required under Code Section 409A. If the Executive is deemed on the date of separation
from service with the Bank to be a “specified employee”, within the meaning of that term under Code Section 409A(a)(2)(B) and using the identification methodology selected by the Bank from time to time, or if none, the default
methodology, then with regard to any payment or benefit that is required to be delayed in compliance with Code Section 409A(a)(2)(B), such payment or benefit shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of the Executive’s separation from service or (ii) the date of the Executive’s death. In the case of benefits required to be delayed under Code
Section 409A, however, the Executive may pay the cost of benefit coverage, and thereby obtain benefits, during such six-month delay period and then be reimbursed by the Bank thereafter when delayed
payments are made pursuant to the next sentence. On the first day of the seventh month following the date of the Executive’s separation from service or, if earlier, on the date of the 

  
 15 

 
Executive’s death, all payments delayed pursuant to this Section 21 (whether they would have otherwise been payable in a single sum or in installments in the
absence of such delay) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. If
any cash payment is delayed under this Section 21, then interest shall be paid on the amount delayed calculated at the prime rate reported in The Wall Street Journal for the date of the Executive’s termination to the
date of payment. 
 (d) With regard to any provision herein that provides for reimbursement of expenses or in-kind benefits subject to Code Section 409A, except as permitted by Code Section 409A, (i) the right to reimbursement or in-kind benefits is not subject to
liquidation or exchange for another benefit, and (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for
reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered
by Code Section 105(b) solely because such expenses are subject to a limit related to the period the arrangement is in effect. All reimbursements shall be reimbursed in accordance with the Bank’s reimbursement policies but in no event
later than the calendar year following the calendar year in which the related expense is incurred. 
 (e) If under this Agreement, an
amount is to be paid in two or more installments, for purposes of Code Section 409A, each installment shall be treated as a separate payment. 

(f) When, if ever, a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment
shall be made within ten (10) days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Bank. 

(g) Notwithstanding any of the provisions of this Agreement, the Bank shall not be liable to the Executive if any payment or benefit
which is to be provided pursuant to this Agreement and which is considered deferred compensation subject to Code Section 409A otherwise fails to comply with, or be exempt from, the requirements of Code Section 409A. 

Section 22. Guaranty by MainStreet Bancshares, Inc. Notwithstanding anything in this Agreement to the
contrary, the Guarantor hereby unconditionally and irrevocably guarantees to make all payments of funds due and payable to the Executive as set forth in this Agreement, and to perform any and all financial obligations of the Bank set forth in this
Agreement to the extent that the Bank may fail to make such payments or perform such obligations on or after February 17, 2016, on a timely basis (the “Guaranty”). The Guarantor shall perform such Guaranty within ten
(10) days after receipt of written notice from the Executive to the Guarantor of the Bank’s failure to perform under this Agreement. Notwithstanding anything herein to the contrary, any payments made by the Guarantor to the Executive
pursuant to this Guaranty, shall be subject to and conditioned upon compliance with 12 U.S.C. § 1828(k) and the Federal Deposit Insurance Corporation Regulations at 12 C.F.R. Part 359, Golden Parachute and Indemnification Payments promulgated
thereunder. 

  
 16 

 [Signatures appear on the following page] 

  
 17 

 IN WITNESS WHEREOF, the Bank has caused this Agreement to be signed and sealed by its
duly authorized officer and the Executive has hereunto set his hand and seal on the day and year first above written. 
  

					
	BANK:	 	
		
	MAINSTREET BANK	 	
			
	By: 	 	/s/ William E. Cox	 	(SEAL)
		 	Name:William E. Cox	 	
		 	Title:Director	 	

 ATTEST: _______________________ 

 

			
	EXECUTIVE:	 	
		
	/S/ Jeff W. Dick	 	(SEAL)
	JEFF W. DICK	 	

 WITNESS: ______________________ 

  
 18 

 IN WITNESS WHEREOF, the undersigned parties hereby execute this Agreement as evidence
of approval by MainStreet Bancshares, Inc. of the Guaranty set forth in the Agreement and acceptance of such Guaranty by the Executive. 
  

			
	MAINSTREET BANCSHARES, INC.
		
	By: 	 	/s/ William E. Cox
		 	William E. Cox
	Its:	 	Director

  

	
	Acceptance of the Guaranty by Executive
	
	/s/ Jeff W. Dick
	Jeff W. Dick, Executive

 ATTEST: 
  

	
	/s/ Thomas J. Chmelik
	 Thomas J. Chemlik, Executive Vice President and

Chief Financial Officer

	MainStreet Bancshares, Inc.

  
 19EX-10.4

 EXHIBIT 10.4 

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of the 15th day of November, 2016,
by and between MAINSTREET BANK, a Virginia chartered bank (the “Bank”), and CHARLES C. BROCKETT (the “Executive”). This Agreement collectively refers to the Bank and the Executive as the
“Parties,” and separately may refer to either one of them as a “Party.” 
 RECITALS 

R-1. The Bank is engaged in the operation of a bank with headquarters in Fairfax, Virginia,
serving the Washington D. C. Metropolitan area. 
 R-2. The Executive has been involved in
the management of the business and affairs of other financial institutions similar to the Bank, and, therefore, possesses managerial experience, knowledge, skills and expertise in such type of business. 

R-3. The employment of the Executive by the Bank is in the best interests of the Bank and the
Executive. 
 R-4. The Parties have mutually agreed upon the terms and conditions of the
Executive’s commencement of employment with the Bank as hereinafter set forth. 
 TERMS OF AGREEMENT 

NOW, THEREFORE, for and in consideration of this Agreement’s Recitals, the mutual promises and undertakings of the Parties as
hereinafter set forth, and other good and valuable consideration which the Parties hereby agree is sufficient, the Parties covenant and agree as follows: 

Section 1. Employment. 

(a) The Executive shall be employed as the President of the Bank. The Executive shall report to the Chief Executive Officer of
the Bank and shall be managed by the Chief Executive Officer consistent with the terms of this Agreement. The Executive’s duties, responsibilities and authority as President of the Bank shall be commensurate with those normally undertaken by
presidents of banks similar to the Bank in nature and size at the time the Executive exercises such duties, responsibilities or authority. Additionally, in exercising his duties, the Executive shall have such authority and discretion to make
decisions binding upon the Bank as are reasonable and consistent with the good faith discharge of duties set forth in this Agreement and the policies established by the Board of Directors from time to time. The Bank shall cover as an insured person
the Executive for all applicable director and officer liability insurance provided to other similarly situated executives of the Bank. 

(b) References in this Agreement to services rendered for the Bank and compensation and benefits payable or provided by the Bank shall
include services rendered for and compensation and benefits payable or provided by any Affiliate. References in this Agreement to the “Bank” also shall mean and refer to each Affiliate for which the Executive performs services.
References in this Agreement to an “Affiliate” shall mean any business entity that, directly or indirectly, through one or more intermediaries, controls, or is controlled by the Bank. 

 (c) The relationship between the Bank and the Executive shall be that of an employer
and an employee. The Board of Directors shall have the sole authority to set and establish terms, conditions and standards applicable to the Executive subject to the terms and conditions of this Agreement. The Executive shall be nominated and
endorsed by the Bank’s Board of Directors to serve as a member of the Bank’s Board of Directors. 
 (d) Executive shall
perform his duties at the Bank’s offices in Fairfax County, Virginia. The Executive shall travel for business reasons from time to time as is reasonably necessary for the performance of his duties hereunder. 

(e) Upon the termination of employment of the Executive as an officer and employee of the Bank or MainStreet Bancshares, Inc. (the
“Company” or the “Guarantor”) for any reason, the Executive hereby agrees and acknowledges that this Agreement shall constitute such individual’s letter of resignation as a member of the Board of Directors of the Company,
the Bank, and all related entities of the Company and the Bank, effective as of the date of such termination of employment. 

Section 2. Term. The Initial Term of this Agreement shall commence on January 1, 2017
(the “Effective Date”), and shall continue until December 31, 2018, unless sooner terminated under the terms of this Agreement (the “Initial Term”). The first renewal term of this Agreement shall commence on
January 1, 2018, and shall end on December 31, 2019, unless earlier terminated as provided herein. This Agreement will automatically renew for successive two year terms unless either party notifies the other in writing at least three
(3) months prior to the end of the Initial Term, or at least three (3) months prior to the end of any additional two-year renewal term, that the Agreement shall not be extended beyond its current
term, or unless sooner terminated under the terms of this Agreement. The term of this Agreement, including any renewal term, is referred to as the “Term.” 

Section 3. Exclusive Service. The Executive shall devote his best efforts and full time to
rendering services on behalf of the Bank in furtherance of its best interests, except for any period or periods of time during which the Executive’s ability to discharge any of such duties and responsibilities and devote such time and attention
are impaired as a result of a mental or physical disability of his, or he is on vacation, holiday or other leave, or as otherwise agreed by the Board of Directors. The Executive shall comply with all written policies, standards and regulations of
the Bank now or hereafter promulgated and communicated to the Executive, and shall perform his duties under this Agreement to the best of his abilities and in accordance with standards of conduct generally applicable to chief executive officers of
similarly situated banks. The obligations of this Section 3 shall not be construed to mean that the Executive shall not be a director of any other corporation, or be associated in any way whatsoever with any educational,
charitable, civic, social, recreational, youth, sports or other organization or endeavor; provided, however, during the time of his employment under this Agreement, the Executive shall not (1) serve as an officer or director of any other entity
or corporation without the express and prior approval of the Board of Directors after full disclosure by the Executive, which approval may be withheld in the Board of Director’s absolute discretion, or (2) be employed by any organization
other than the Bank or a subsidiary or Affiliate of the Bank. 

  
 2 

 Section 4. Salary and Other Compensation. 

(a) Base Salary. As compensation while employed hereunder, the Executive, during his faithful performance of this
Agreement, in whatever capacity rendered, shall receive an initial annual base salary of $265,000 (the “Base Salary”). Such Base Salary shall be reviewed annually by the Board of Directors or its Compensation Committee, to ascertain
whether such Base Salary should be increased based on the performance of and contributions made by the Executive during the preceding year, the performance of the Bank during the preceding year, the compensation being paid to other senior executives
at the Bank, inflation, and other factors deemed appropriate. 
 (b) Incentive Compensation. 

(1) As additional compensation, the Executive shall be eligible to receive from the Bank either (i) an annual cash bonus in an amount, if
any, determined by the Board of Directors in its discretion or (ii) an annual performance-based incentive bonus earned under the MainStreet Bank Executive Incentive Plan (or any successor plan). The aggregate of such incentive compensation
shall provide the Executive with a target incentive compensation opportunity to earn incentive compensation of up to 50% of Base Salary. 

(2) Clawback. Executive agrees that any incentive compensation (as determined by the Bank) that Executive receives from
the Bank or any Affiliate pursuant to this Agreement or otherwise is subject to repayment to (i.e., clawback by) the Bank or any Affiliate as required by federal law and on such basis as the Bank determines. Except where offset of, or recoupment
from, compensation covered by Code Section 409A (as defined in Section 21) is prohibited by Code Section 409A, to the extent allowed by law and as determined by the Bank, Executive agrees that such repayment may, in the discretion of
the Bank, be accomplished by withholding of future compensation to be paid to Executive by the Bank or any Affiliate. Any recovery of compensation covered by Code Section 409A shall be implemented in a manner which complies with Code
Section 409A. 
 (c) If the Bank were to implement either a deferred compensation program, supplemental executive retirement
plan or the like for its senior executives then the Executive will be entitled to participate in the implemented program at levels no lower than other senior executives of the Bank. 

(d) The Bank will pay to the Executive the Base Salary as provided in Section 4(a) in appropriate
installments to conform to the Bank’s regular payroll dates which shall be at least monthly. Further, the Bank will pay to the Executive the Base Salary and all other amounts set forth in this Agreement less appropriate deductions as required
by law, or otherwise permitted by the Executive. The Bank shall also withhold and remit to the proper party any amounts agreed to in writing by the Bank and the Executive for participation in any corporate sponsored benefit plans for which a
contribution is required. 

  
 3 

 (e) Except as otherwise expressly set forth hereunder, no compensation shall be paid
pursuant to this Agreement in respect of any month or portion thereof subsequent to any termination of the Executive’s employment by the Bank. 

(f) Equity Compensation. The Executive will be awarded 10,000 shares of Common Stock of the Company on terms to be set forth in
a stock award agreement authorized by the Compensation Committee of the Company’s Board of Directors, including that such shares shall become earned and non-forfeitable at the rate of 20% per year upon
the Executive’s anniversary of his date of employment with the Bank during periods of continued employment with the Bank; provided that such awards shall become immediately vested upon a Change of Control of the Bank or the Company. 

Section 5. Corporate Benefit Plans. 

(a) General. In addition to those matters set forth in this Agreement, during his employment hereunder, the
Executive and, to the extent applicable, Executive’s spouse, legal dependents and beneficiaries shall be entitled to participate in or become a participant in all employee benefit plans and programs, including improvements or modifications of
the same, maintained by the Bank (including but not limited to the benefits of certain pension and other retirement benefit plans, profit sharing, stock option, or other plans, benefits, and privileges) and available to other executives of the Bank
that includes the Executive, on a basis not less favorable than that provided to such class of employees. 
 (b) Vacation and
Other Leave. Upon execution of this Agreement, the Executive shall be entitled to twenty-five (25) days of paid vacation annually (the “Vacation Leave”). Executive shall take at least two (2) consecutive
weeks of vacation annually that will not overlap with any vacation or planned leave taken by the Chief Executive Officer of the Bank. In addition to the Vacation Leave, the Executive shall accrue additional days of paid leave annually (“Paid
Leave Time”) according to the Paid Leave section of the Bank’s Employee Handbook. The Executive shall not at any one time take more than ten (10) consecutive business days of Vacation Leave, Paid Leave Time or combination thereof
without the prior approval of the Board of Directors. The Executive shall further be entitled to the number of paid holidays and leaves for illness or temporary disability in accordance with the Bank’s policies for its senior executives. 

(c) Health and Disability Insurance. During the term of his employment, the Executive shall be entitled to
participate in the medical (including hospitalization), dental, life and disability plans, to the extent offered by the Bank, and in amounts consistent with the Bank’s policy, for other senior executive officers of the Bank, with premiums for
all such insurance for the Executive and his dependents to be paid by the Bank in accordance with normal payroll practices but at least monthly. 

(d) Life Insurance. The Bank will obtain, and maintain at all times during the term of the Executive’s
employment, a group term insurance policy on the Executive’s life in an amount equal to two times his base salary under the Virginia Bankers Association group term life insurance program. The Bank will pay the premiums on this policy in
accordance with normal payroll practices but at least monthly. The Executive will have the right to designate the beneficiary of the policy. 

  
 4 

 Section 6. Expense Account and Use of Car. 

(a) General. The Bank shall reimburse the Executive for all reasonable and documented business expenses incurred
in the conduct of the Bank’s business. Such expenses will include business meals, out-of-town lodging and travel expenses, and memberships in professional
organizations and costs to attend meetings and conventions of business-appropriate organizations and associations. The Executive agrees to timely submit records and receipts and, as may be required by the Board of Directors, explanations of
reimbursable items and agrees that the Bank can adopt reasonable rules and policies regarding such reimbursement. The Bank agrees to make prompt payment to the Executive following receipt and verification of such reports. 

(b) Car Allowance. During the term of this Agreement, the Bank shall provide the Executive with a car allowance of
$600 per month. 
 (c) Reimbursements and In-kind Benefits. All reimbursements
and in-kinds benefits payable under this Agreement shall be made in accordance with the Bank’s written policies. If any reimbursement or in-kind benefit is subject
to Internal Revenue Code (the “Code”) Section 409A (as defined in Section 21), then such reimbursement or in-kind benefit shall comply with the applicable
requirements of Section 21, including the timing of payment and other provisions set forth in Section 21(d). 

Section 7. Termination and Termination Benefits. Notwithstanding the provisions of
Section 2, the Executive’s employment hereunder shall terminate under the following circumstances and shall be subject to the following provisions: 

(a) Death. If the Executive dies during the term of this Agreement, the Bank shall continue to pay to the
Executive’s estate an amount equal to the Executive’s then current Base Salary for 12 months after the Executive’s death with such payments to be made on the same periodic dates as salary payments would have been made to the Executive
had he not died. In addition, the Bank shall pay to the estate of the Executive within 60 days of the Executive’s death, any unpaid compensation or benefits, including accrued annual bonus, if any, which otherwise would have been payable to the
Executive through the end of the month in which his death occurs. In addition, upon the death of the Executive during the term of this Agreement, all of Executive’s unvested equity awards that were granted to the Executive by the Bank as
compensation and that have not previously been forfeited, exercised or settled will immediately vest upon the Executive’s death notwithstanding any provision in an equity award agreement to the contrary. 

(b) Disability. The Bank may terminate the Executive’s employment hereunder, after having established the
Executive’s Disability, by giving to the Executive written notice of the Bank’s intention to terminate the Executive’s employment for Disability. The Executive’s employment with the Bank shall terminate effective on the 90th day
after the Executive’s receipt of such notice if within 90 days after such receipt the Executive shall fail to return to the full-time performance of the essential functions of his position. If the Executive’s employment hereunder is
terminated due to the Executive’s Disability, then all compensation and benefits 

  
 5 

 
payable to the Executive shall cease on the date of termination; provided, however, that the Bank shall pay to the Executive within 60 days of the date of termination any accrued but unpaid
compensation, including accrued annual bonus, if any, which otherwise would have been payable to the Executive through the date of termination. In addition, all of Executive’s unvested equity awards that were granted to the Executive by the
Bank as compensation and that have not previously been forfeited, exercised or settled will immediately vest on the date of termination notwithstanding any provision in an equity award agreement to the contrary. 

(c) Termination by the Bank For Cause. The Bank may terminate the Executive’s employment hereunder For Cause,
in which event the Bank may elect to terminate the Executive’s employment immediately or upon the expiration of a set period not to exceed 30 days, as set forth in a written notice to the Executive. During any such period between the
Executive’s receipt of such notice and the date of termination, the Executive may be relieved of his duties as specified herein and assigned alternate duties by the Board of Directors. If the Executive’s employment hereunder is terminated
by the Bank For Cause, then all compensation and benefits payable to the Executive shall cease on the date of termination; provided, however, that the Bank shall pay to the Executive within 60 days of the date of termination any accrued but unpaid
compensation, including accrued annual bonus, if any, which otherwise would have been payable to the Executive through the date of termination. 

(d) Termination by the Bank Without Cause. The Bank may terminate the Executive’s employment hereunder
Without Cause, in which event the Bank may elect to terminate the Executive’s employment immediately or upon the expiration of a set period not to exceed 30 days, as set forth in a written notice to the Executive. During any period between the
Executive’s receipt of such notice and the date of termination, the Executive may be relieved of his duties as specified herein and assigned alternate duties by the Board of Directors. 

(i) If the Bank terminates the Executive’s employment hereunder Without Cause and not within one year following a Change of Control, then,
subject to Section 7(f), the Executive shall receive, in a lump sum on the 60th day following the date of termination, an amount equal to the greater of:
(A) the sum of his then current Base Salary for one year plus the average of any annual bonus payments made to the Executive during the two-year period ending on the date of termination, or
(B) the sum of his then current Base Salary for the balance, if any, of the two year renewal term plus the average of any annual bonus payments made to the Executive during the two-year period
ending on the date of termination, or (C) the sum of his then current Base Salary for the balance, if any, of the Initial Term plus the average of any annual bonus payments made to the Executive during the
two-year period ending on the date of termination. In addition, all of Executive’s unvested equity awards that were granted to the Executive by the Bank as compensation and that have not previously been
forfeited, exercised or settled will immediately vest on the date of termination notwithstanding any provision in an equity award agreement to the contrary. All benefits shall cease on the date of termination. Notwithstanding anything herein to the
contrary, in the event that the Executive’s employment hereunder is terminated Without Cause within one year of the date of commencement of employment of the Executive with the Bank and which is not within one year

  
 6 

 
following a Change of Control, then, subject to Section 7(f), the Executive shall receive, in a lump sum payment on the 60th day following the date of termination of employment, an amount
equal to the sum of his then current Base Salary for one year and the immediate vesting of twenty percent (20%) of the aggregate equity awards granted to the Executive within such first year of employment that have not previously been forfeited,
exercised or settled notwithstanding any provision in an equity award agreement to the contrary. The balance of any previously granted equity awards will be forfeited as of such date of termination of employment. 

(ii) If the Bank terminates the Executive’s employment hereunder Without Cause within one year following a Change of Control, then,
subject to Section 7(f), the Executive shall receive, in a lump sum within 30 days following the date of termination, an amount equal to the greater of: (A) the sum of his then current Base Salary for one year
plus the average of any annual bonus payments made to the Executive during the three-year period ending on the date of termination, (B) the sum of his then current Base Salary for the balance, if any, of the Initial Term plus the average of any
annual bonus payments made to the Executive during the three-year period ending on the date of termination, or (C) 299% of the Executive’s “annualized includible compensation for the base period” as defined in Code Section 280G.
In addition, all of Executive’s unvested equity awards that were granted to the Executive by the Bank as compensation and that have not previously been forfeited, exercised or settled will immediately vest on the date of termination
notwithstanding any provision in an equity award agreement to the contrary. Notwithstanding anything herein to the contrary, in the event that there is a Change of Control within one year following the Executive’s date of commencement of
employment with the Bank and the Executive’s employment hereunder is terminated Without Cause within one year following such Change of Control, then, subject to Section 7(f), the Executive shall receive, in a lump sum payment on the 30th
day following the date of termination of employment, an amount equal to the sum of his then current Base Salary for one year and the immediate vesting of twenty percent (20%) of the aggregate equity awards granted to the Executive within such first
year of employment that have not previously been forfeited, exercised or settled notwithstanding any provision in an equity award agreement to the contrary. All benefits shall cease on the date of termination. 

(e) Termination by the Executive. The Executive may terminate his employment hereunder by written notice to the
Bank effective not less than 60 days after the Bank’s receipt of such notice; provided, however, that subsequent to receipt of such notice, the Executive may be relieved of his duties and assigned alternate duties by the Board of Directors.

 (i) Termination by the Executive For Good Reason and Not Within One Year Following Change of Control. If the Executive terminates
his employment hereunder For Good Reason and not within one year following a Change of Control, then he shall receive the same compensation and benefits upon termination (including accelerated vesting of equity awards) that he would receive if he
were terminated Without Cause and not within one year following a Change of Control as specified in Section 7(d)(i). 

  
 7 

 (ii) Termination by the Executive For Good Reason Within One Year Following Change of
Control. If the Executive terminates his employment hereunder For Good Reason within one year following a Change of Control, he shall receive the same compensation and benefits upon termination (including accelerated vesting of equity awards)
that he would receive if he were terminated Without Cause within one year following a Change of Control as specified in Section 7(d)(ii). 

(iii) Termination by the Executive other than For Good Reason. If the Executive terminates his employment hereunder other than For Good
Reason, then all compensation and benefits payable to the Executive shall cease on the date of termination; provided, however, that the Bank shall pay to the Executive within 60 days of the date of termination any accrued but unpaid compensation,
including accrued annual bonus, if any, which otherwise would have been payable to the Executive through the date of termination. 

(f) Limitations on Termination Compensation. Notwithstanding anything in this Agreement to the contrary: 

 

	 	(i)	 If the Executive is at anytime in breach of either Section 10 or
Section 11 of this Agreement, then the Executive shall not thereafter be entitled to receive any amounts payable pursuant to Section 7(d)(i), 7(d)(ii), 7(e)(i) or 7(e)(ii) (“Termination
Compensation”), and none of the Executive’s unvested equity awards will be subject to accelerated vesting. In addition, if such breach occurs within 12 months following the date of termination, the Executive shall repay to the Bank any
Termination Compensation received and all vested stock previously received as compensation, and any outstanding equity awards that were granted to the Executive by the Bank as compensation will be forfeited to the Bank. 

 

	 	(ii)	 If the Executive engages in any activity seeking to establish a Competitive Business in the Trade Area during
the Non-Compete Period (as defined in Section 11(a) below), the Executive shall not be entitled to any Termination Compensation, the Executive shall repay to the Bank any Termination
Compensation received and all vested stock previously received as compensation, and any outstanding equity awards that were granted to the Executive by the Bank as compensation will be forfeited to the Bank. 

 

	 	(iii)	 The Bank shall not be required to make payment of the Termination Compensation or any portion thereof to the
extent such payment is prohibited by applicable banking regulations or to the extent that any other governmental approval of the payment required by law is not received. 

  
 8 

 (g) Definitions. For purposes of this Agreement, the following
terms have the following meanings: 
  

	 	(i)	 “Cause” shall mean: 

 

	 	(1)	 Gross incompetence, gross negligence, willful misconduct, or breach of a material fiduciary duty owed to the
Bank; 

  

	 	(2)	 Conviction of a felony, a crime of moral turpitude, commission of an act of embezzlement or fraud against the
Bank or any subsidiary or Affiliate thereof, the commission of repeated misdemeanors, or other willful misconduct that materially adversely affects the business or reputation of the Bank; 

 

	 	(3)	 Failure to cure a material breach by the Executive of a material term of this Agreement after 10 days written
notice of the breach; 

  

	 	(4)	 Deliberate dishonesty of the Executive with respect to the Bank or any subsidiary or Affiliate thereof; or

  

	 	(5)	 Permanent disbarment or suspension of the Executive by any regulatory body or agency lasting more than sixty
(60) days. 

  

	 	(ii)	 Change of Control. “Change of Control” shall mean the occurrence of any of the
following events: 

 (1) Merger: The Bank or the Company merges into or consolidates with another entity, or merges
another bank or corporation into the Bank or the Company, and as a result, less than a majority of the combined voting power of the resulting corporation immediately after the merger or consolidation is held by persons who were stockholders of the
Bank or the Company immediately before the merger or consolidation; 
 (2) Acquisition of Significant Share Ownership: A person or persons
acting in concert has or have become the beneficial owner of 25% or more of a class of the Bank’s or the Company’s voting securities; provided, however, this clause (2) shall not apply to beneficial ownership of the Bank’s or the
Company’s voting shares held in a fiduciary capacity by an entity of which the Bank or the Company directly or indirectly beneficially owns 50% or more of its outstanding voting securities; 

(3) Change in Board Composition: Individuals who constitute the Bank’s or the Company’s Board of Directors on the Effective Date
hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the Effective Date whose election was approved by a vote of at least three-quarters
of the directors comprising the Incumbent Board shall be considered, for purposes of this clause (3), as though he or she was a member of the Incumbent Board; or 

  
 9 

 (4) Sale of Assets: The Bank or the Company sells to a third party all or substantially all
of its assets. 
 The definition of Change of Control shall be construed to be consistent with the requirements of Section 409A of the
Code, and Treasury Regulations promulgated thereunder. 
  

	 	(iii)	 “Disability” means either (i) disability which after the expiration of more than 13
consecutive weeks after its commencement is determined to be total and permanent by a physician selected and paid for by the Bank or its insurers, and acceptable to the Executive or his legal representative, which consent shall not be unreasonably
withheld or (ii) disability as defined in the policy of disability insurance maintained by the Bank or its Affiliates for the benefit of the Executive, whichever may be more favorable to the Executive. Notwithstanding any other provision of
this Agreement, the Bank shall comply with all requirements of the Americans with Disabilities Act, 42 U.S.C. § 12101 et seq. 

  

	 	(iv)	 “For Good Reason” shall mean: 

 

	 	(1)	 Except as provided herein, the assignment of duties and responsibilities to the Executive by the Bank which are
inconsistent with the position referred to in Section 1(a) above or which result in the Executive’s having significantly less authority or responsibility than he has on the date hereof, without his advance and express
written consent; 

  

	 	(2)	 The removal of the Executive from or any failure to re-elect him to the
positions of President of the Bank or President of the Company, if applicable, other than for Cause; 

  

	 	(3)	 The removal of the Executive from the Board of Directors of the Bank or the Company, the Executive’s
failure to be re-elected by the Company’s shareholders, once appointed to such Board, to continue to serve as a member of the Board of Directors of the Company for a new term of office beyond his then
current term of office as a director even after the Board of Directors of the Company shall have nominated the Executive for such additional term of office, any failure of the Executive to be endorsed and recommended by the Company for re-election to the Company’s Board of Directors, or any failure of the Executive to be endorsed and recommended by the Bank for re-election to the Bank’s Board of
Directors; 

  
 10 

	 	(4)	 A reduction by the Bank of the Executive’s annual Base Salary unless salaries for all employees are
reduced, and the Executive’s salary is reduced proportionately; 

  

	 	(5)	 The failure of the Bank to provide the Executive with substantially the same fringe benefits that are provided
Executive at the inception of his employment; except as a result of severe financial distress that leads to a general decrease in the level of benefits of all or substantially all of the Bank’s employees; 

 

	 	(6)	 Failure to cure a material breach by the Bank of a material term of this Agreement after 30 days written notice
of the breach; 

  

	 	(7)	 Failure by any successor entity (an entity that assumes the assets or business of the Bank pursuant to
an acquisition of any kind including, without limitation, acquisition of assets or merger) to assume and agree to perform this Agreement in its entirety; or 

 

	 	(8)	 The occurrence of a Change of Control. 

 

	 	(v)	 “Without Cause” shall mean termination of the Executive’s employment hereunder by the
Bank for any reason other than upon Disability or For Cause. 

 Section 8. Other Provisions Relating to
Termination. 
 (a) Notwithstanding the termination of the Executive’s employment pursuant to any provision of this
Agreement, the Parties shall be required to carry out any provisions of this Agreement which contemplate performance by them subsequent to such termination. In addition, no termination shall affect any liability or other obligation of either Party
which shall have accrued prior to such termination, including, but not limited to, any liability, loss or damage on account of breach, subject to the limitation on damages set forth below. No termination of employment shall terminate the obligation
of the Bank to make payments of any vested benefits provided hereunder or the obligations of the Executive under Sections 10, 11, and 12. 

(b) Notwithstanding anything herein to the contrary, the Executive acknowledges and agrees that the payment by the Bank of the
Termination Compensation shall constitute liquidated damages for, and shall be the Executive’s sole and exclusive remedy for, (1) the termination of the Executive by the Bank Without Cause or (2) the occurrence of any fact or
circumstance constituting Good Reason, including without limitation any breach of this Agreement by the Bank. The parties agree that it would be difficult or impossible to ascertain damages in the event of a breach by the Bank and, accordingly, the
parties have, through negotiation of this Agreement, established liquidated damages which they agree are a fair estimate of damages and not a penalty. 

  
 11 

 (c) It is the intention of the Parties that no payment be made or benefit provided to
the Executive pursuant to this Agreement that would constitute an “excess parachute payment” within the meaning of Section 280G of the Code and any regulations thereunder, thereby resulting in a loss of an income tax deduction by the
Bank or the Company, or the imposition of an excise tax on the Executive under Section 4999 of the Code. If the independent accountants serving as auditors for the Bank on the date of a Change of Control (or any other accounting firm designated
by the Bank only because such determination by the auditors would be violative of auditor independence rules) determine that some or all of the payments or benefits scheduled under this Agreement, as well as any other payments or benefits on a
Change of Control, would be nondeductible by the Bank or the Company under Section 280G of the Code, then the payments scheduled under this Agreement will be reduced to one dollar less than the maximum amount which may be paid without causing
any such payment or benefit to be nondeductible. The determination made as to the reduction of benefits or payments required hereunder by the independent accountants shall be binding on the Parties. Any reduction of benefits or payments required to
be made under this Section 8(c) will be taken pro rata in the following order: first from payments or benefits that are equity compensation and, if necessary, second from payments or benefits that are cash compensation.

 (d) Notwithstanding any other provision of this Agreement, no payments or benefits under this Agreement that are subject to Code
Section 409A (as defined in Section 21) and that are to be paid upon the Executive’s termination of employment shall be paid or provided to the Executive until the Executive has experienced a “separation from
service”, as described in Section 21(c). Any such payments or benefits shall also be subject to the delay provisions in Section 21(c), if applicable. 

Section 9. Suspension. 

If the Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served
pursuant to the Federal Deposit Insurance Act, then the Bank’s obligations under this Agreement shall be suspended as of the date of service unless the Executive’s suspension or prohibition is stayed by appropriate proceedings. If the
charges in the notice are dismissed, then the Bank (i) will pay to the Executive all of the compensation withheld while the Bank’s contract obligations were suspended, and (ii) reinstate (in whole) any of its obligations which were
suspended. Nothing in this Section 9 shall be construed to limit the Bank’s right, pursuant to Section 7(g)(i)(5) to declare a suspension of the Executive lasting longer than sixty
(60) days as Cause for termination. 
 Section 10. Confidentiality/Nondisclosure. The
Executive covenants and agrees that any and all information concerning the customers, businesses and services of the Bank or the Company of which he has knowledge or access as a result of his association with the Bank or the Company in any capacity
(including, without limitation, information concerning the Company’s or the Bank’s trade secrets, business operations and operating methods, business records, customer lists or other customer information, research projects, costs, pricing,
financial data, business plans and proposals, data and information the Bank or the Company receives in confidence from any other party and, or any other information which is treated as confidential by the Bank or the Company) (“Confidential
Information”) is the sole and exclusive property of the Bank or the Company. The Executive shall not, without the prior written consent of the Bank, directly or indirectly use, disseminate, disclose or publish such Confidential Information
to third parties other than in connection with the usual conduct of the business of the Bank or the Company. Such information 

  
 12 

 
shall expressly include, but shall not be limited to, information concerning the Company’s or the Bank’s trade secrets, business operations, business records, customer lists or other
customer information. Upon termination of employment, the Executive shall deliver to the Bank all originals and copies of documents, forms, records or other information in Executive’s possession, in whatever form it may exist, concerning the
Company, the Bank or their business, customers, products or services, without retaining any copies. The Bank shall have the right to review the Executive’s personal files, on demand, to evaluate compliance with this provision. In construing
this provision it is agreed that it shall be interpreted broadly so as to provide the Company and the Bank with the maximum protection. This Section 10 shall not be applicable to any information which, through no misconduct
or negligence of the Executive, has previously or subsequently been disclosed to the public by anyone other than the Executive. The provisions of this Section 10 shall expressly survive termination of this Agreement for any
reason, including breach of this Agreement by the Bank or the Company. 
 Section 11. Covenants Not to Compete and Not to
Solicit. 
 (a) The Executive covenants and agrees that during the term of his employment, and for a period of twelve
(12) months from and after the date that the Executive ceases to be employed by the Bank (the “Non-Compete Period”) for any reason other than for “cause”, he will not, directly
or indirectly, in any individual or representative capacity whatsoever be directly or indirectly employed by a Competitive Business as an employee, consultant or in any other capacity to provide or undertake those duties customarily performed by any
executive, including a vice-president, or senior loan officer of the Bank anywhere within a thirty-five (35) air mile radius of any office operated by the Bank on the date the Executive’s employment terminates (the “Trade
Area”); Additionally, the Executive covenants and agrees that during the term of his employment, and for a period of twelve (12) months from and after the date that the Executive ceases to be employed by the Bank for any reason, during
the Non-Compete Period, he will not, directly or indirectly, in any individual or representative capacity whatsoever: (i) solicit, or assist any other person or business entity in soliciting, any depositors or
other customers of the Bank to make deposits in or to become customers of any other financial institution conducting a Competitive Business; or (ii) knowingly induce any individuals to terminate their employment with the Bank or its Affiliates,
each of the aforesaid activities described in this paragraph 11(a) being deemed a “Competitive Activity”. The term “Competitive Business” means provision of those banking products and services that are substantially
similar to those offered by the Bank on the date that the Executive’s employment terminates. The Executive further agrees that if the Executive violates this Section 11 during the
Non-Compete Period, the Non-Compete Period shall be extended by an amount of time equal to the length of the period of any such violation(s). 

(b) The Executive hereby covenants and warrants that the covenants and restrictions set forth in
Section 11(a) are the product of negotiation between the Executive and the Bank and, in light of the Executive’s position as a Director and President of the Bank, are reasonable (as to geographic scope, scope of
activity, and duration) and necessary for the protection of the Bank’s legitimate business interests, including the protection of the significant investment of the Bank in developing, maintaining and expanding its business. The Executive
represents and warrants to the Bank and the Company that the covenants and restrictions set forth in Section 11(a) do not and will not unreasonably interfere with the Executive’s ability to earn a livelihood. 

  
 13 

 Section 12. Injunctive Relief, Damages, Etc. 

(a) The Parties agree that in the event of any breach by the Executive of any of the provisions of Sections 10 or 11 that
monetary damages alone will not adequately compensate the Bank for its losses and, therefore, that it may seek any and all legal or equitable relief available to it, specifically including, but not limited to, injunctive relief. The covenants
contained in Sections 10 and 11 shall be construed and interpreted in any judicial proceeding to permit their enforcement to the maximum extent permitted by law. Should a court of competent jurisdiction determine that any provision of
the covenants and restrictions set forth in Section 11 is unenforceable as being overbroad as to time, area or scope, then the Parties agree that they shall enter into an amendment to this Agreement for the purpose of
rendering such provision enforceable to the maximum extent permitted by law. The Parties acknowledge and agree that the foregoing obligation to amend this Agreement shall survive the entry of any order or decree finding
Section 11 to be unenforceable. 
 (b) Nothing in this Section 12 will limit the
right of a Party to obtain from a court of competent jurisdiction any equitable relief such as an injunction, nor shall this Section 12 be construed to impair or otherwise affect any indemnification rights either Party may
have against the other arising under the Bank’s articles of incorporation or bylaws or pursuant to any other written agreement between the Parties not superseded by this Agreement. 

Section 13. Binding Effect/Assignability. This Agreement shall be binding upon and inure to the
benefit of the Bank and the Executive and their respective heirs, legal representatives, executors, administrators, successors and assigns, but neither this Agreement, nor any of the rights hereunder, shall be assignable by the Executive or any
beneficiary or beneficiaries designated by the Executive. The Bank will require any successor (whether direct or indirect, by purchase, merger, consolidation, share exchange or otherwise) to all or substantially all of the business, stock or assets
of the Bank (a “Successor Entity”), by agreement in form and substance reasonably satisfactory to the Executive, to expressly assume and agree to perform this Agreement in its entirety. 

Section 14. Governing Law. This Agreement shall be subject to and construed in accordance with
the laws of the Commonwealth of Virginia, without giving effect to its principles of conflict of laws. 
 Section 15.
The parties will enter into a separate indemnification agreement regarding the Executive’s status as a Bank director and officer. 

Section 16. Invalid Provisions. The invalidity or unenforceability of any particular provision
of this Agreement shall not affect the validity or enforceability of any other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provisions were omitted. 

Section 17. Notices. Any and all notices, designations, consents, offers, acceptance or any
other communications provided for herein (“Notices”) shall be given in writing and shall be deemed properly delivered if delivered in person or (i) in the case of Notices deliverable to the Bank, by overnight delivery by a
reputable carrier or in person to Corporate Counsel for MainStreet Bank, Edward Crosland, Esq., Special Counsel, Jones Walker LLP, 1227 25th St, NW, Suite #200, Washington DC 20037; FAX # 202-434-4661 , and (ii) in the case of Notices to the Executive, by overnight delivery by a reputable carrier, addressed to his last known address. 

  
 14 

 Section 18. Entire Agreement. 

(a) This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes any and
all other agreements, either oral or in writing, among the Parties with respect to the subject matter hereof. 
 (b) This Agreement
may be executed in one or more counterparts, each of which shall be considered an original copy of this Agreement, but all of which together shall evidence only one agreement. 

Section 19. Amendment and Waiver. This Agreement may not be amended except by an instrument in
writing signed by or on behalf of each of the Parties. No waiver of any provision of this Agreement shall be valid unless in writing and signed by the person or Party to be charged. 

Section 20. Interpretation. The meaning assigned to each term defined in this Agreement will be
equally applicable to both the singular and the plural forms of the term. Whenever the context may require, any pronoun will include the corresponding masculine, feminine and neuter forms. The headings in this Agreement are for reference only and
will not affect this Agreement’s interpretation. Underscored references to Articles, Sections, Subsections, clauses, Exhibits or Schedules refer to those portions of this Agreement, and any underscored references to a Subsection or clause,
unless otherwise identified, refer to the appropriate Subsection or clause within the same Section in which the reference occurs. The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or
question of intent or interpretation arises, then this Agreement will be construed as if drafted jointly by the Parties, and no presumption or burden of proof will arise favoring or disfavoring any Party by virtue of the authorship of any provisions
of this Agreement. 
 Section 21. Code Section 409A Compliance.

 (a) The intent of the parties is that payments and benefits under this Agreement comply with Section 409A of the Internal
Revenue Code of 1986, as amended, and applicable guidance thereunder (“Code Section 409A”) or comply with an exemption from the application of Code Section 409A and, accordingly, all provisions of this
Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. 

(b) Neither the Executive nor the Bank shall take any action to accelerate or delay the payment of any monies and/or provision of any
benefits in any matter which would not be in compliance with Code Section 409A. 
 (c) A termination of employment shall not be
deemed to have occurred for purposes of any provision of this Agreement providing for the form or timing of payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from
service” (within the meaning of Code Section 409A) and, for purposes of any such provision of this Agreement under which (and to the extent) deferred compensation subject 

  
 15 

 
to Code Section 409A is paid, references to a “termination” or “termination of employment” or like references shall mean separation from service. A “separation from
service” shall not occur under Code Section 409A unless such Executive has completely severed his relationship with the Bank or the Executive has permanently decreased his services to 20% or less of the average level of bona fide services
over the immediately preceding 36 month period (or the full period if the Executive has been providing services for less than 36 months). A leave of absence shall only trigger a termination of employment that constitutes a separation from service at
the time required under Code Section 409A. If the Executive is deemed on the date of separation from service with the Bank to be a “specified employee”, within the meaning of that term under Code Section 409A(a)(2)(B) and using
the identification methodology selected by the Bank from time to time, or if none, the default methodology, then with regard to any payment or benefit that is required to be delayed in compliance with Code Section 409A(a)(2)(B), such payment or
benefit shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of the Executive’s separation from service or (ii) the date of the
Executive’s death. In the case of benefits required to be delayed under Code Section 409A, however, the Executive may pay the cost of benefit coverage, and thereby obtain benefits, during such
six-month delay period and then be reimbursed by the Bank thereafter when delayed payments are made pursuant to the next sentence. On the first day of the seventh month following the date of the
Executive’s separation from service or, if earlier, on the date of the Executive’s death, all payments delayed pursuant to this Section 21 (whether they would have otherwise been payable in a single sum or in
installments in the absence of such delay) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified
for them herein. If any cash payment is delayed under this Section 21, then interest shall be paid on the amount delayed calculated at the prime rate reported in The Wall Street Journal for the date of the Executive’s
termination to the date of payment. 
 (d) With regard to any provision herein that provides for reimbursement of expenses or in-kind benefits subject to Code Section 409A, except as permitted by Code Section 409A, (i) the right to reimbursement or in-kind benefits is not subject to
liquidation or exchange for another benefit, and (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for
reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered
by Code Section 105(b) solely because such expenses are subject to a limit related to the period the arrangement is in effect. All reimbursements shall be reimbursed in accordance with the Bank’s reimbursement policies but in no event
later than the calendar year following the calendar year in which the related expense is incurred. 
 (e) If under this Agreement, an
amount is to be paid in two or more installments, for purposes of Code Section 409A, each installment shall be treated as a separate payment. 

(f) When, if ever, a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment
shall be made within ten (10) days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Bank. 

  
 16 

 (g) Notwithstanding any of the provisions of this Agreement, the Bank shall not be
liable to the Executive if any payment or benefit which is to be provided pursuant to this Agreement and which is considered deferred compensation subject to Code Section 409A otherwise fails to comply with, or be exempt from, the requirements
of Code Section 409A. 
 Section 22. Guaranty by MainStreet Bancshares, Inc. Notwithstanding
anything in this Agreement to the contrary, the Guarantor hereby unconditionally and irrevocably guarantees to make all payments of funds due and payable to the Executive as set forth in this Agreement, and to perform any and all financial
obligations of the Bank set forth in this Agreement to the extent that the Bank may fail to make such payments or perform such obligations on or after the Effective Date, on a timely basis (the “Guaranty”). The Guarantor shall perform such
Guaranty within ten (10) days after receipt of written notice from the Executive to the Guarantor of the Bank’s failure to perform under this Agreement. Notwithstanding anything herein to the contrary, any payments made by the Guarantor to
the Executive pursuant to this Guaranty, shall be subject to and conditioned upon compliance with 12 U.S.C. § 1828(k) and the Federal Deposit Insurance Corporation Regulations at 12 C.F.R. Part 359, Golden Parachute and Indemnification Payments
promulgated thereunder. 
 [Signatures appear on the following page] 

  
 17 

 IN WITNESS WHEREOF, the Bank has caused this Agreement to be signed and sealed by its
duly authorized officer and the Executive has hereunto set his hand and seal on the day and year first above written. 
  

					
	BANK:	 	
		
	MAINSTREET BANK	 	

 
					
			
	By: 	 	/s/ Jeff W. Dick	 	(SEAL)
		 	Name: Jeff W. Dick	 	
		 	Title: Chairman and CEO	 	

 ATTEST: _______________________ 
  

 

			
	EXECUTIVE:	 	
		
	/S/ CHARLES C. BROCKETT	 	(SEAL)
	CHARLES C. BROCKETT	 	

 WITNESS: ______________________ 

  
 18 

 IN WITNESS WHEREOF, the undersigned parties hereby execute this Agreement as evidence
of approval by MainStreet Bancshares, Inc. of the Guaranty set forth in the Agreement and acceptance of such Guaranty by the Executive. 
  

			
	MAINSTREET BANCSHARES, INC.
		
	By:	 	 /s/ Jeff W. Dick

		 	Jeff W. Dick
	Its:	 	Chairman and CEO

  

	
	Acceptance of the Guaranty by Executive
	
	/s/ Charles C. Brockett
	Charles C. Brockett, Executive

 ATTEST: 
  

	
	/s/ Thomas J. Chmelik
	Thomas J. Chmelik, Corporate Secretary
	MainStreet Bancshares, Inc.

  

  
 19

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