Document:

Base Salaries of Named Executive Officers of the Registrant

 Exhibit 10.6 
 Base Salaries of Named Executive Officers of the Registrant 
 As of November 1, 2007, the following are the base
salaries (on an annual basis) of the named executive officers (as defined in Item 402 (a)(3) of Regulation S-K) of Old Point Financial Corporation: 
  

				
	 Robert F. Shuford
	  	$	254,000
	 Chairman, President & Chief Executive Officer
	  		
	 Old Point Financial Corporation
	  		
		
	 Louis G. Morris
	  	$	210,000
	 Executive Vice President/OPNB
	  		
	 Old Point Financial Corporation
	  		

			
		
	 Cary B. Epes
	  	Resigned as of March 1, 2007

				
	 Senior Vice President/Business Development & Lending
	  		
	 Old Point Financial Corporation
	  		
		
	 Margaret P. Causby
	  	$	145,000
	 Senior Vice President/Risk Management
	  		
	 Old Point Financial Corporation
	  		
		
	 Laurie D. Grabow
	  	$	140,000
	 Chief Financial Officer & Senior Vice President/Finance
	  		
	 Old Point Financial CorporationMemorandum of Understanding

 EXHIBIT 10.8 
 MEMORANDUM OF UNDERSTANDING 
 This Memorandum
of Understanding (herein “MOU”) is made this 10th day of September, 2007, between The Old Point National Bank of Phoebus (“Old Point”)
and Tidewater Mortgage Services, Inc. (“Tidewater”). 
 RECITALS 
 The parties hereto have entered into a joint venture by forming Old Point Mortgage, LLC (“OPM”) in which Tidewater owns 51% and Old Point 49%.

 The parties hereto desire to memorialize their understanding on the business to be conducted by OPM. 
 NOW, THEREFORE, pursuant to the foregoing premises and the covenants hereinafter set forth, the parties agree as follows: 
 1. OPM Formation. The parties will simultaneous with the execution of this MOU execute the Operating Agreement for OPM. Old Point will place
$171,500.00 (49%) of initial capital into OPM and Tidewater will place $178,500.00 (51%) of initial capital in OPM. Old Point will own 49% of OPM and Tidewater 51%. 
 2. Employees. OPM will initially have five (5) employees which will be W-2d employees working full-time for OPM. There will be one
Operations/Sales Manager (“OSM”) and four (4) loan originators. The OSM shall be in charge of day-to-day management and operations of OPM. 
 3. Member Services to OPM. Attached hereto as Schedule A is a list of services which Old Point or Tidewater will initially provide to OPM and the fees to be charged. It is agreed that all fees charged OPM shall
be at fair market rates, the same as they would charge to other entities and the same as would be charged by independent third parties that provide similar services. To the extent that it is determined at any time that any fees charged by Old Point
or Tidewater to OPM do not comply with the foregoing requirement, they shall be adjusted to comply. Subject to the foregoing requirement, all fees will be reviewed annually to determined the appropriateness of any changes. No fees will be charged
that are not disclosed on Schedule A unless agreed by Old Point and Tidewater and they comply with RESPA. 
 4. RESPA. It is the
parties intent to ensure that the conduct of business for OPM complies with all requirements of the Real Estate Settlement Procedures Act (“RESPA”) and that OPM constitutes a bona fide provider of settlement services under RESPA. Any and
all actions or changes necessary for compliance will be implemented. Attached hereto as Schedule B is the HUD “Policy Statement on Sham Controlled Business Arrangements.” The parties shall periodically review OPM operations to maintain
compliance with the Policy Statement. 

 5. Financial Records. OPM will provide full access to its financial records to Old Point,
Tidewater and internal and external auditors of Old Point and Tidewater. 
 6. Offices. OPM may lease office space from Old Point or
Tidewater at fair market value and operate at such location subject to compliance with RESPA. 
 7. Reporting. A management
representative of OPM will provide production reports to Old Point and Tidewater and if requested, attend various monthly meetings of Old Point and Tidewater to present such reports. 
 8. Holiday Functions. OPM employees will be invited to social/holiday functions of Old Point and Tidewater. 
 9. Deposit Accounts. OPM will maintain deposit accounts at Old Point on the same terms as any other depositor. 
 10. Financial Reporting. Financial Reporting will be provided by the second business day of each month. Warehouse line reconciliation will occur
daily. 
 11. Old Point Purchase of Loans. From time to time, Old Point may purchase an OPM originated loan in which event the
purchase price shall be the same as a third party independent investor would pay for the same loan. 
 12. Budget. Attached as
Schedule C is the initial budget prepared by OSM, Old Point and Tidewater. 
 13. Amendment. This MOU may be amended from time to time
by the mutual agreement of Old Point and Tidewater. 
 IN WITNESS WHEREOF, the parties have set forth their signatures below. 
  

									
	THE OLD POINT NATIONAL BANK OF PHOEBUS	 		 	TIDEWATER MORTGAGE SERVICES, INC.
					
	By	 	 /s/ Louis G. Morris
	 		 	By	 	 /s/ Tom Harriman

		 	President/CEO	 		 		 	President

  

 2Change in Control Agreement of R. Moyle Fritz, Jr. dated September 20, 2007

 Exhibit 10.7 
 BANK OF FLORIDA CORPORATION 
 AMENDED & RESTATED 
 CHANGE IN CONTROL AGREEMENT 
 THIS AMENDED & RESTATED CHANGE IN CONTROL AGREEMENT (“Agreement”) is entered into by and between Bank of Florida Corporation (“Employer”) and R. Moyle Fritz, Jr. (“Employee”). 

WHEREAS, in recognition of Employee’s prior and continuing contribution to Employer and its subsidiaries, Employer wishes to
protect Employee’s position therewith in the manner provided in the Agreement in the event of a Change in Control of the Employer. 
 NOW, THEREFORE, in consideration of Employee’s management position, contribution and responsibilities, Employer hereby agrees to provide Employee with certain severance benefits as specifically provided herein.

 SECTION 1 – DEFINITIONS 
 (a) “Change in Control” means an event that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (“Exchange
Act”) or any successor disclosure item; provided that, without limitation, such a Change in Control (as set forth in 12 U.S.C. Section 1841 (a)(2) of the Bank Holding Company Act of 1956, as amended) shall be deemed to have occurred if any
person (as such term is used in Sections 13(d) and 14(d) of the Exchange Act), other than any person who on the date hereof is a director or officer of Employer: (i) directly or indirectly, or acting in concert through one or more other
persons, owns, controls, or has power to vote 25% or more of any class of the then outstanding voting securities of Employer; or (ii) controls in any manner the election of the directors of Employer. For purposes of this Agreement, a
“Change in Control” shall be deemed not to have occurred in connection with a reorganization, consolidation, or merger of Employer whereby the stockholders of Employer, immediately before the consummation of the transaction, will own over
50% of the total combined voting power of all classes of stock entitled to vote of the surviving entity immediately after the transaction. 
 (b) Termination for “just cause” means termination because of Employee’s personal dishonesty, incompetence, insubordination, misconduct or conduct which negatively reflects upon the Employer, breach of fiduciary duty,
intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than minor traffic violations or similar offenses), or final cease-and desist order. In determining “incompetence,” the acts or
omissions shall be measured against standards generally prevailing in the banking industry. No act, or failure to act on Employee’s part, shall be considered “willful” unless done, or omitted to be done, by Employee not in good faith
and without reasonable belief that Employee’s action or omission was in the best interest of Employer; provided that any act or omission to act on Employee’s behalf in reliance upon advice or written opinion of Employer’s counsel
shall not be deemed to be willful. 
  

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 (c) “Protected Period” means the term of this Agreement and six months following termination
hereof, if Employee is employed by Employer at the time Employer enters into a definitive agreement which is in fact later consummated and results in a Change in Control of Employer. 
 SECTION 2 – TERM OF AGREEMENT 
 This Agreement shall remain in effect for
two years commencing on January 1, 2007, and terminating on December 31, 2008, unless extended or terminated in accordance with the terms and conditions set forth in Section 8 herein. 
 SECTION 3 – PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL 
 If Employer terminates Employee’s employment without “just cause,” Employee shall be entitled to receive the termination benefits described in Section 4 herein, if a Change in Control also occurs
or has occurred within the Protected Period. Employee shall also be entitled to receive such termination benefits described in Section 4 herein, if within 120 days of a Change in Control Employee elects to terminate his employment; provided,
however, if the surviving entity following a Change in Control offers Employee a position with the same title and at the same salary as he was receiving from Employer at the time of the Change in Control, Employee shall not be entitled to receive
the termination benefits described in Section 4 herein. 
 SECTION 4 – TERMINATION BENEFITS 
 (a) Upon a termination described in Section 3, Employer or its successor(s) shall pay Employee, or in the event of Employee’s subsequent death,
Employee’s estate, as severance pay, a sum equal to one and one-half years of Employee’s “highest annual base salary.” For purposes of this Agreement, Employee’s “highest annual base salary” shall mean the
Employee’s highest base salary during the three years immediately preceding Employee’s termination. Such payment shall be made in one lump sum payment within ten business days of such a termination of employment. 
 (b) Upon a termination described in Section 3, Employer or its successor(s) shall continue to provide life, health, and disability coverage
(“Coverage”) comparable to the coverage maintained by Employer for Employee prior to Employee’s severance. Such Coverage shall cease upon the earlier of Employee obtaining new employment and receiving Coverage through another
employer, which provides comparable coverage, or six months from the date of Employee’s termination. 
 SECTION 5 – SUSPENSION OF
OBLIGATIONS 
 (a) If Employee is suspended from office and/or temporarily prohibited from participating in the conduct of
Employer’s affairs pursuant to an action brought by the Florida Office of Financial Regulation, Office of the Comptroller of the Currency, Office of Thrift Supervision, or the Federal Deposit Insurance Corporation (any and all referred to
herein as “Regulatory Agency”), Employer’s obligations under this Agreement shall be suspended as of the date of such action. The obligations of this Agreement shall be reinstated if the charges of the Regulatory Agency are
subsequently dismissed, or if the Employee is otherwise determined to be not guilty of such charges. 
  

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 (b) If Employee is removed from office and/or permanently prohibited from participating in the conduct or
affairs of Employer by a final order resulting from an action brought by a Regulatory Agency, all obligations of Employer under this Agreement shall terminate as of the effective date of such order. 
 SECTION 6 – NOTICE OF TERMINATION 
 Any purported termination by Employer or by Employee shall be communicated by a Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall
indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Employee’s employment under the provision so indicated.

 SECTION 7 – AGREEMENT NOT TO COMPETE 
 (a) In consideration of the benefits and protections provided under this Agreement, Employee agrees that while currently employed by Employer, and for a period of one year following the termination of Employee’s
employment for any reason, other than a termination that would entitle Employee to receive the severance benefits described in Section 4, Employee shall not become employed, directly or indirectly, whether as an employee, independent
contractor, consultant, or otherwise, with any federally-insured financial institution, financial holding company, bank holding company, or other financial services provider located in Broward, Miami-Dade, or Palm Beach Counties, Florida that offers
similar products or services as those offered by the Employer, or with any person or entity whose intent it is to organize another such company or entity located in any of the above listed counties. 
 (b) Employee further agrees that for a period of one year following the termination of Employee’s employment hereunder for any reason, Employee
shall not, directly or indirectly: (i) solicit the business of any then current customer (e.g., borrower or depositor) of the Employer or any of Employer’s subsidiaries, regardless of whether or not Employee was responsible for generating
such customer’s business; or (ii) solicit any employees of Employer or its subsidiaries. 
 (c) Employee hereby agrees that the
durations of the anti-competitive covenants set forth herein are reasonable, and that the geographic scope is not unduly restrictive. 
 (d)
The parties acknowledge and agree that money damages cannot fully compensate Employer in the event of Employee’s violation of the provisions of this Section 7. Thus, in the event of a breach of any of the provisions of this Section 7,
Employee agrees that Employer, upon application to a court of competent jurisdiction, shall be entitled to an injunction restraining Employee from any further breach of the terms and provisions of this Section 7. Employee’s sole remedy, in
the event of the wrongful entry of such injunction, shall be the dissolution of such injunction and any costs as provided for in Section 10 herein. Employee hereby waives any and all claims for damages by reason of the wrongful issuance of any
such injunction. 
  

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 SECTION 8 – MODIFICATION AND WAIVER 
 (a) This Agreement may not be modified or amended except as agreed to in writing by the parties hereto. 
 (b) No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppels against the enforcement of any provision
of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the
specific term or condition waived and shall not constitute a waiver of such term or condition in the future, or as to any act other than that specifically waived. 
 SECTION 9 – ARBITRATION 
 The parties agree that, except for the specific remedies for
injunctive relief as contained in Section 7, any controversy or claim arising out of or relating to this Agreement or any breach hereof, including, without limitation, any claim that this Agreement or any portion hereof is invalid, illegal, or
otherwise voidable, shall be submitted to binding arbitration before and in accordance with the rules of the American Arbitration Association and judgment upon the determination and/or award of such arbitrator(s) may be entered in any court having
jurisdiction thereof. Provided, however, that this Section shall not be construed to permit the award of punitive damages to either party. The venue of any arbitration shall be in Collier County, Florida. 
 SECTION 10 – ATTORNEYS’ FEES 
 In the event of any proceeding occurring out of or involving this Agreement, the prevailing party shall be entitled to the recovery of reasonable attorneys’ fees, expenses, and costs, including fees and costs to enforce an award.

 SECTION 11 – SEVERABILITY 
 The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 
 SECTION 12 – HEADINGS FOR REFERENCE ONLY 
 The headings of the Sections herein are included solely for convenient reference and shall not control the meaning or the interpretation of any of the provisions of this Agreement. 
 SECTION 13 – APPLICABLE LAW AND VENUE 
 This Agreement shall be governed in
all respects and shall be interpreted by and under the laws of the State of Florida. Any litigation regarding this Agreement shall be brought in the appropriate court in Collier County, Florida. 
  

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 SECTION 14 – SUCCESSORS 
 Employer shall require any successor to the business and/or assets of Employer in connection with a Change in Control to assume and agree to perform its
obligations under this Agreement in writing. 
 SECTION 15 – NO CONTRACT OF EMPLOYMENT 
 This Agreement shall not, under any circumstances, be deemed to constitute an employment contract between Employer and Employee or to be in consideration
of or an inducement for the continued employment of Employee. Nothing contained in this Agreement shall be deemed to give Employee the right to be retained in the service of Employer, or to interfere with the right of Employer to discharge Employee
at any time. 
 SECTION 16 – LIMITATION OF RIGHTS 
 Neither this Agreement, nor any amendment hereof, nor the payment of any benefits hereunder shall be construed as giving Employee or any other person any legal or equitable right against Employer except as expressly
provided herein. 
 SECTION 17 – AMENDMENT & RESTATEMENT 
 This Agreement amends and completely restates any other employment related agreements by and between Employee and Employer. By executing this Agreement,
Employee completely releases Employer and all of its subsidiaries from any obligations that may have existed under any such other agreements. 
 IN WITNESS WHEREOF, Employer has duly executed this Agreement this 20th day of September, 2007. 
  

							
	EMPLOYEE	 		 	BANK OF FLORIDA CORPORATION
				
	 /s/ R. Moyle Fritz, Jr.
	 		 	By:	 	 /s/ Michael L. McMullan

	R. Moyle Fritz, Jr.	 		 		 	Michael L. McMullan
		 		 		 	Chief Executive Officer & President

  

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