Document:

Standby Purchase Agreement

 Exhibit 10.1 
 STANDBY PURCHASE AGREEMENT 
 This STANDBY PURCHASE AGREEMENT (this
“Agreement”), dated as of January 19, 2012, is by and among First Capital Bancorp, Inc., (the “Company”), and Kenneth R. Lehman (the “Standby Purchaser”). 

WITNESSETH: 
 WHEREAS,
the Company proposes pursuant to the Registration Statement (as defined herein), to commence an offering to holders of its common stock (the “Common Stock”) of record as of the close of business on a date during the first
quarter of 2012 that may be selected by the Company (the “Record Date”), of non-transferable rights (the “Rights”) to subscribe for and purchase Units consisting of additional shares of Common Stock
and warrants to purchase additional shares of Common Stock (the “Rights Offering”); and 
 WHEREAS,
pursuant to the Rights Offering, the Company will distribute to each of its shareholders of record as of the Record Date, at no charge, one Right for each share of Common Stock held by such shareholders as of the Record Date; each Right will entitle
the holder to purchase up to three units for $2.00 per unit (the “Subscription Price”); each Unit consisting of one share of Common Stock and one warrant to purchase one-half of a share of Common Stock pursuant to the terms
described herein (a “Unit”); 
 WHEREAS, each holder of Rights who exercises in full its Rights in the Rights Offering
(the “Basic Subscription Privilege”) will be entitled to subscribe for additional Units to the extent they are available, at the Subscription Price (the “Over-Subscription Privilege”); and 

WHEREAS, in order to facilitate the Rights Offering, the Company has requested the Standby Purchaser to agree, and the Standby Purchaser
has agreed, to acquire 350,000 Units from the Company at the Subscription Price, or an aggregate of $700,000, upon the terms and conditions set forth herein (the “Committed Offering”); and 

WHEREAS, the Standby Purchaser has requested, and in order to facilitate the Rights Offering the Company has agreed to grant, a right of
first refusal to purchase any Units not purchased in the Rights Offering upon the exercise of the Basic Subscription Privilege, which right of first refusal may be exercised prior to the Company’s acceptance of any subscriptions submitted upon
exercise of the Over-Subscription Privilege, but is subject to certain limitations described herein (the “Standby Offering”), and together with the Committed Offering and the Rights Offering (the “Stock
Offerings”). 
 NOW THEREFORE, in consideration of the foregoing and the mutual covenants herein contained and
other good and valuable consideration, the parties hereto, intending to be legally bound hereby, agree as follows: 

Section 1. Certain Other Definitions. The following terms used herein shall have the meanings set forth below:

 “Affiliate” shall mean an affiliate (as defined in Rule 12b-2 under the Exchange Act) of such
Standby Purchaser; provided that the Standby Purchaser or any of his affiliates exercises investment authority with respect to such affiliate, including, without limitation, voting and dispositive rights with respect to such affiliate.

 “Agent” shall have the meaning set forth in Section 4(e) hereof. 

“Agreement” shall have the meaning set forth in the preamble hereof. 

“Basic Subscription Privilege” shall have the meaning set forth in the recitals hereof. 

“Board” shall mean the Board of Directors of the Company. 

“Business Day” shall mean any day that is not a Saturday, a Sunday or a day on which banks are generally closed
in the Commonwealth of Virginia. 

 “Closing” shall mean the closing of the purchases described in
Section 2 hereof, which shall be held at the offices of LeClairRyan in Richmond, Virginia, at 10:00 a.m., Eastern Time, on the Closing Date or at such other place and time as shall be agreed upon by the parties hereto. 

“Closing Date” shall mean the date of the Closing. 

“Commission” shall mean the United States Securities and Exchange Commission, or any successor agency thereto.

 “Committed Offering” shall have the meaning set forth in the recitals hereof. 

“Common Stock” shall have the meaning set forth in the recitals hereof. 

“Company” shall have the meaning set forth in the preamble hereof. 

“Cure Period” shall have the meaning set forth in Section 8(a) hereof. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated by the Commission thereunder. 
 “Market Adverse Effect” shall have the meaning set forth in
Section 7(b)(iii) hereof. 
 “Material Adverse Effect” shall mean a material adverse effect on the
financial condition, or on the earnings, financial position, shareholders’ equity, operations, assets, results of operations, regulatory compliance or business of the Company and its subsidiaries taken as a whole; provided that the meaning
shall exclude any changes from general economic, industry, market or competitive conditions or changes in laws, rules or regulations generally affecting Persons in the Company’s industry. 

“Non-Disclosure Agreement” shall have the meaning set forth in Section 12 hereof. 

“Over-Subscription Privilege” shall have the meaning set forth in the recitals hereof. 

“Person” shall mean an individual, corporation, partnership, association, joint stock company, limited liability
company, joint venture, trust, governmental entity, unincorporated organization or other legal entity. 

“Prospectus” shall mean the final Prospectus, including any information relating to the offer and sale of Rights,
Units, Common Stock and Warrants in the Stock Offerings and any Public Offering, including (subject to Section 2(a)) the offer and sale of Units, Common Stock and Warrants to the Standby Purchaser, and the issuance of Common Stock upon exercise
of the Warrants including the issuance of Common Stock upon the exercise of Warrants issued to the Standby Purchaser, that is filed with the Commission pursuant to Rule 424(b) and deemed by virtue of Rule 430A of the Securities Act to be part
of such Registration Statement, each as amended, for use in connection with the offer and sale of such securities and the issuance of shares of Common Stock upon the exercise of such Warrants. 

“Public Offering” shall mean any best efforts offering to the public of shares of Common Stock that remain
unsubscribed after the Stock Offerings. 
 “Record Date” shall have the meaning set forth in the
recitals hereof. 
 “Registration Statement” shall mean the Company’s Registration Statement on
Form S-1 initially filed with the Commission during the first quarter of 2012, together with all exhibits thereto and the Prospectus and any prospectus supplement, relating to the offer and sale of Rights, Units, Common Stock and Warrants in the
Stock Offerings and any Public Offering, including (subject to Section 2(a)) the offer and sale of Units, Common Stock and Warrants to the Standby Purchaser, and the issuance of Common Stock upon exercise of the Warrants including the issuance
of Common Stock upon the exercise of Warrants issued to the Standby Purchaser, pursuant to which the offer and sale of such securities have been registered pursuant to the Securities Act. 

  
 2 

 “Rights” shall have the meaning set forth in the recitals hereof.

 “Rights Offering” shall have the meaning set forth in the recitals hereof. 

“Rights Offering Expiration Date” shall mean a date selected by the Company in March 2012, provided that the
Company shall have the option to extend the Rights Offering, for any reason, until June 30, 2012. 
 “Securities
Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated by the Commission thereunder. 
 “Standby Offering” shall have the meaning set forth in the recitals hereof. 
 “Standby Purchaser” shall mean the Standby Purchaser named in the recitals hereof. 
 “Stock Offerings” shall have the meaning set forth in the recitals hereof. 
 “Subscription Price” shall have the meaning set forth in the recitals hereof. 
 “Subsidiary” or “Subsidiaries” shall mean First Capital Bank and any other direct or indirect subsidiary of the Company. 

“Termination Notice” shall mean a notice from the Company indicating that the Board, in the exercise of its good
faith judgment, has determined to terminate or suspend indefinitely the Rights Offering contemplated hereby. 

“Warrant” shall mean a warrant issued by the Company in the Stock Offerings and any Public Offering that entitles
the holder to purchase one-half share of Common Stock for a purchase price of $2.00 per full share, which must be paid in cash at the time of exercise. Each Warrant shall be exercisable immediately upon completion of the Stock Offerings and shall
expire on the tenth anniversary of the Closing Date. The Common Stock issued upon the exercise of the Warrants will be issued pursuant to the Prospectus and registered pursuant to the Registration Statement. The Warrants are subject to redemption by
the Company for $0.01 per warrant, on not less than 30 days written notice, at any time after the closing price of the Common Stock exceeds $4.00 per share for 20 consecutive business days ending within 15 days of the date on which notice of
redemption is given; provided that the Warrants may not be redeemed before the first anniversary of the Closing Date. The Warrants shall be adjusted to reflect any stock split, stock dividend or similar recapitalization with respect to the
Common Stock. The Warrants shall be fully transferable and assignable. The terms of the Warrants shall not permit cashless exercise. The Warrants shall not have voting rights. 
 Section 2. Standby Purchase Commitment; Right of First Refusal.  
 (a) The Standby Purchaser hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Standby Purchaser, at the Subscription Price, 350,000 Units in the Committed Offering, if
(i) such Units are available after the exercise of the Basic Subscription Privilege and (ii) the Company receives valid subscriptions for a minimum of 2,500,000 Units in the Rights Offering and/or the Public Offering, including $1.0
million of subscriptions from the Company’s executive officers and directors. If the Company has not received valid subscriptions for a minimum of 2,500,000 Units in the Rights Offering and/or the Public Offering, including $1.0 million of
subscriptions from the Company’s executive officers and directors, the Standby Purchaser, in his sole discretion, may elect to complete the Committed Offering, provided that the Company must sell a minimum of 2,500,000 Units in the Rights
Offering, the Committed Offering, the Standby Offering and the Public Offering, if any. Subject to Section 6(l) and notwithstanding any other term to the contrary in this agreement, the Company may elect to offer and sell Units in the Committed
Offering in a transaction that is not registered under the Securities Act. 

  
 3 

 (b) The Standby Purchaser shall have the right of first refusal to purchase Units available
after the exercise of the Basic Subscription Privilege, provided that immediately following the Closing the Standby Purchaser shall not own more than 45% of the Company’s outstanding shares of Common Stock calculated on a fully-diluted basis by
assuming that all Warrants are exercised, provided that the Company may waive the 45% limitation in its sole discretion. The Standby Purchaser shall notify the Company how many Units he wishes to purchase at the Subscription Price in the Standby
Offering within five (5) days of receiving written notice as to how many Units were purchased by existing shareholders of the Company upon the exercise of the Basic Subscription Privilege, and how many Units were subscribed for pursuant to the
Over-Subscription Privilege in the Rights Offering. The Standby Purchaser shall have a right of first refusal to purchase shares in the Public Offering, subject to the limitations provided herein. He may purchase shares in the Public Offering by
notifying the Company, within 5 days of the completion of any offering period relating to such offering, as to how many Units he wishes to purchase in such offering. 
 (c) In each case, payment shall be made to the Company by the Standby Purchaser, on the Closing Date, against delivery of the Common Stock and Warrants that are part of the Units purchased by the Standby
Purchaser, in United States dollars by means of certified or cashier’s checks, bank drafts, money orders or wire transfers. 
 Section 3. Representations and Warranties of the Company. The Company represents and warrants to the Standby Purchaser as follows: 

(a) The Company is a corporation duly organized, validly existing and in good standing under the laws of the Commonwealth of Virginia and
has all requisite corporate power and authority to carry on its business as now conducted. 
 (b) This Agreement has been duly
and validly authorized, executed and delivered by the Company and constitutes a binding obligation of the Company enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing
(regardless of whether enforcement is sought in a proceeding at law or in equity). 
 (c) Prior to Closing, the Registration
Statement will have been declared effective by the Commission and no stop order will have been issued with respect thereto and no proceedings therefore will have been initiated or, to the knowledge of the Company, threatened by the Commission, and
any request on the part of the Commission for additional information will have been complied with. On the effective date, the Registration Statement will comply in all material respects with the requirements of the Securities Act and will not
contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. On the Closing Date, the Registration Statement and the Prospectus will not
include an untrue statement of a material fact nor omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading;
provided, however, that the representations and warranties in this subsection shall not apply to statements in or omissions from the Registration Statement or the Prospectus made in reliance upon and in conformity with the information
furnished to the Company in writing by the Standby Purchaser expressly for use in the Registration Statement or in the Prospectus pursuant to Section 6(c) below. 
 (d) All of the shares of Common Stock and Warrants issued in the Stock Offerings and any Public Offering will have been duly authorized for issuance prior to the Closing, and, when issued and distributed
as set forth in the Prospectus, will be validly issued, fully paid and non-assessable; and none of the shares of Common Stock and Warrants issued in the Stock Offerings and any Public Offering will have been issued in violation of the preemptive
rights of any security holders of the Company arising as a matter of law or under or pursuant to the Company’s Articles of Incorporation (as amended through the Closing Date), Amended and Restated Bylaws, or any material agreement or instrument
to which the Company is a party or by which it is bound. 
 (e) Neither the Company nor any Subsidiary is in violation of its
charter, certificate of trust or by-laws or in default under any agreement, indenture or instrument to which the Company or any Subsidiary is a party, the 

  
 4 

 
effect of which violation or default could reasonably be expected to have a Material Adverse Effect on the Company, and the execution, delivery and performance of this Agreement by the Company
and the consummation of the transactions contemplated hereby will not conflict with, or constitute a breach of, or default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the assets of the Company or any
Subsidiary pursuant to the terms of any agreement, indenture or instrument to which the Company or any Subsidiary is a party which lien, charge or encumbrance could reasonably be expected to have a Material Adverse Effect on the Company, or result
in a violation of the articles of incorporation, charter, or by-laws of the Company or any Subsidiary or any order, rule or regulation of any court or governmental agency having jurisdiction over the Company, any Subsidiary or any of their property;
and, except as required by the Securities Act, the Exchange Act, and applicable state securities law, no consent, authorization or order of, or filing or registration with, any court or governmental agency is required for the execution, delivery and
performance of this Agreement. 
 (f) Except as set forth in Schedule 3(f) hereto, the Company and the Subsidiaries have taken
all actions necessary to ensure that the transactions contemplated by this Agreement, individually or in the aggregate, shall not give rise to a change in control under, or result in the breach or the violation of, or the acceleration of any right
under, or result in any additional rights, or the triggering of any antidilution adjustment under any contract or agreement to which the Company or any Subsidiary is a party, including, without limitation, any employment agreement or employee
benefit plan of the Company or any Subsidiary. Such actions may include, without limitation, having any such contracts or agreements or rights granted under any such contract or agreement waived in writing or amended prior to Closing. 

(g) The Company’s Board of Directors have approved this Agreement and the transactions contemplated by this Agreement to the extent
required by the laws, regulations and policies of the Commonwealth of Virginia and the Nasdaq Capital Market, and such laws, regulations and policies do not require that the Company’s stockholders approve the Agreement and the transactions
contemplated by the Agreement. 
 Section 4. Representations and Warranties of the Standby Purchaser. The
Standby Purchaser represents and warrants to the Company as follows: 
 (a) The Standby Purchaser is an individual with full
power and authority to perform his obligations under this Agreement. 
 (b) The Standby Purchaser is acquiring his securities
for his own account, with the intention of holding the securities for investment and with no present intention of participating, directly or indirectly, in a distribution of the securities. 

(c) The Standby Purchaser is familiar with the business in which the Company is engaged, and based upon his knowledge and experience in
financial and business matters, he is familiar with the investments of the type that he is undertaking to purchase; he is fully aware of the problems and risks involved in making an investment of this type; and he is capable of evaluating the merits
and risks of this investment. The Standby Purchaser acknowledges that, prior to executing this Agreement, he has had the opportunity to ask questions of and receive answers or obtain additional information from a representative of the Company
concerning the financial and other affairs of the Company. 
 (d) This Agreement has been duly and validly executed and
delivered by such Standby Purchaser and constitutes a binding obligation of the Standby Purchaser enforceable against him in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, moratorium and similar laws
affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought
in a proceeding at law or in equity). 
 (e) The Standby Purchaser hereby acknowledges that the Company has retained
Davenport & Company, LLC to serve as the Agent (the “Agent”) in connection with the Rights Offering; pursuant to which the Agent will receive customary fees. The Company has requested the Agent to issue an opinion as
to the fairness, from a financial point of view of the consideration to be paid to the Company in connection with the stock offering and any Public offering. The Agent shall be entitled to rely and have the benefit of, as a third party beneficiary,
the representations, warranties, agreements, covenants and other provisions of this Agreement (in each case related to the Standby Purchaser). 

  
 5 

 Section 5. Deliveries at Closing. 

(a) At the Closing, the Company shall deliver to the Standby Purchaser a certificate or certificates representing the shares of Common
Stock, and the Warrant issued to the Standby Purchaser pursuant to Section 2 hereof, which certificate or certificates and Warrant shall not bear any restrictive legends. 
 (b) At the Closing, the Standby Purchaser shall deliver to the Company payment in an amount equal to the Subscription Price multiplied by the number of Units purchased by the Standby Purchaser.

 Section 6. Covenants. 
 (a) Covenants. The Company agrees and covenants with the Standby Purchaser, between the date hereof and the earlier of the Closing Date or the effective date of any termination pursuant to
Section 8 hereof, as follows: 
 (i) To use commercially reasonable efforts to effectuate the Rights Offering; 

(ii) As soon as reasonably practicable after the Company is advised or obtains knowledge thereof, to advise the Standby Purchaser with a
confirmation in writing, of (A) the time when the Prospectus or any amendment or supplement thereto has been filed, (B) the issuance by the Commission of any stop order, or of the initiation or threatening of any proceeding, suspending the
effectiveness of the Registration Statement or any amendment thereto or any order preventing or suspending the use of any preliminary prospectus or the Prospectus or any amendment or supplement thereto, (C) the issuance by any state securities
commission of any notice of any proceedings for the suspension of the qualification of the Common Stock or Warrants for offering or sale in any jurisdiction or of the initiation, or the threatening, of any proceeding for such purpose, (D) the
receipt of any comments from the Commission directed toward the Registration Statement or any document incorporated therein by reference and (E) any request by the Commission for any amendment to the Registration Statement or any amendment or
supplement to the Prospectus or for additional information. The Company will use its commercially reasonable efforts to prevent the issuance of any such order or the imposition of any such suspension and, if any such order is issued or suspension is
imposed, to obtain the withdrawal thereof as promptly as possible; 
 (iii) To operate the Company’s business in the
ordinary course of business consistent with past practice; 
 (iv) To notify the Standby Purchaser, or cause the Agent and/or
any subscription agent to notify the Standby Purchaser, on a daily basis or at such time as the Standby Purchaser may request, of the aggregate number of subscriptions received pursuant to the Basic Subscription Privilege and the Over-Subscription
Privilege in the Rights Offering, and the aggregate subscriptions received in any Public Offering, as of such time; and 
 (v)
Not to issue any shares of capital stock of the Company, or options, warrants, purchase rights, subscription rights, conversion rights, exchange rights, securities convertible into or exchangeable for capital stock of the Company, or other
agreements or rights to purchase or otherwise acquire capital stock of the Company, except for shares of Common Stock issuable upon exercise of the Company’s presently outstanding stock options. 

(b) Certain Acquisitions. Between the date hereof and the Closing Date, the Standby Purchaser and his Affiliates shall not acquire
any shares of Common Stock unless authorized to do so by the Company. 
 (c) Information. The Standby Purchaser agrees to
furnish to the Company all information with respect to the Standby Purchaser that the Company may reasonably request and any such information furnished to the Company expressly for inclusion in the Prospectus by the Standby Purchaser shall not
contain any untrue statement of material fact or omit to state a material fact required to be stated in the Prospectus or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading. 

  
 6 

 (d) Public Statements. Neither the Company nor the Standby Purchaser shall issue any
public announcement, statement or other disclosure with respect to this Agreement or the transactions contemplated hereby without the prior consent of the other parties hereto, which consent shall not be unreasonably withheld or delayed, except
(i) if such public announcement, statement or other disclosure is required by applicable law or applicable stock market regulations, in which case the disclosing party shall consult in advance with respect to such disclosure with the other
parties to the extent reasonably practicable, or (ii) with respect to the filing by the Standby Purchaser of any Schedule 13D or Schedule 13G, to which a copy of this Agreement may be attached as an exhibit thereto. 

(e) Regulatory Filing. If the Company or the Standby Purchaser determines a filing is or may be required under applicable law in
connection with the transactions contemplated hereunder, the Company and the Standby Purchaser shall use commercially reasonable efforts to promptly prepare and file all necessary documentation and to effect all applications that are necessary or
advisable under applicable law with respect to the transactions contemplated hereunder so that any applicable waiting period shall have expired or been terminated as soon as practicable after the date hereof. 

(f) Non-Solicit. 
 (i) The Company agrees that, following the date of this Agreement and prior to the earlier of the Closing or the date on which this Agreement is terminated pursuant to Section 8 hereof, it shall not,
and it shall cause each of its Subsidiaries and its and each of the Subsidiaries’ officers, directors, employees, advisors, agents and representatives, including any investment banker, attorney, advisor or accountant retained by it or any of
the Subsidiaries (“Representatives”) not to, directly or indirectly, (a) solicit, initiate, encourage (including by providing information or assistance) or facilitate any inquiries, proposals or offers with respect to, or the
making or completion of, any proposal that constitutes, or may reasonably be expected to lead to, an Alternative Transaction Proposal, (b) provide or cause to be provided any non-public information or data relating to the Company or the
Subsidiaries in connection with, or have any discussions with, any person relating to or in connection with an actual or proposed Alternative Transaction Proposal (except to disclose the existence of the provisions of this subsection, or
(c) engage in any discussions or negotiations concerning an Alternative Transaction Proposal (provided that the Company may refer any such person or entity to the provisions of this Subsection), or otherwise take any action to encourage
or facilitate any effort or attempt to make or implement an Alternative Transaction Proposal. Without limiting the foregoing, it is agreed that any violation of the restrictions set forth in this Subsection by the Company, any Subsidiary or
Representative of the Company or any Subsidiary shall constitute a breach of this Subsection by the Company and the Subsidiary. The Company shall, and shall cause each of the Subsidiaries to, and shall direct each of its Representatives
to, (x) immediately cease and cause to be terminated any existing activities, discussions or negotiations with any persons conducted heretofore with respect to any Alternative Transaction Proposal (except with respect to the transactions
contemplated by this Agreement), (y) request the prompt return or destruction of all confidential information previously furnished to any person (other than the parties hereto) that has made or indicated an intention to make an
Alternative Transaction Proposal, and (z) not waive or amend any “standstill” provision or provisions of similar effect to which it is a party or of which it is a beneficiary. 

(ii) The Company shall promptly (and in any event within two (2) days of the receipt thereof) notify the Standby Purchaser (in
writing) after: (a) receipt of an Alternative Transaction Proposal (including the identity of the offeror, a copy of such Alternative Transaction Proposal, or if such Alternative Transaction Proposal was not made in writing, a summary of
the terms of such Alternative Transaction Proposal), (b) any request for information relating to the Company or a Subsidiary (including nonpublic information) or for access to the properties, books or records of the Company or any
Subsidiary by any person that has made an inquiry that could reasonably lead to an Alternative Transaction Proposal, or (c) receipt of an amendment to a previously disclosed Alternative Transaction Proposal (including the identity of the
offeror, a copy of such amendment or, if such amendment was not made in writing, a summary of the terms of such amendment). 

(iii) For purposes of this Agreement, the term “Alternative Transaction Proposal” shall mean (a) any proposal or
offer with respect to a merger, joint venture, partnership, consolidation, dissolution, liquidation, tender offer, recapitalization, reorganization, rights offering, share exchange, business combination or similar transaction involving the Company
or any Subsidiary or (b) any acquisition by any person other than the Standby Purchaser resulting in, or proposal or offer, which, if consummated, would result in any person becoming the beneficial owner, directly or indirectly, in one
or a series of related transactions, of 5% or more of the total voting 

  
 7 

 
power of any class of equity securities of the Company or any Subsidiary, or 5% or more of the consolidated total assets (including, without limitation, equity securities of any Subsidiary) of
the Company, in each case other than the transactions contemplated by this Agreement. 
 (g) Expenses. On the earlier of
the Closing Date and the termination of this Agreement, other than a termination under circumstances that are directly and solely attributable to a material breach of this Agreement by the Standby Purchaser, the Company shall reimburse the Standby
Purchaser for all out-of-pocket fees and expenses incurred in connection with the transactions contemplated hereby, including due diligence efforts, the negotiation and preparation of documents relating to the transaction, the preparation and filing
of regulatory applications and notices, and the undertaking of the transactions contemplated hereby, including, but not limited to, the fees and expenses of the Standby Purchaser’s accounting, financial and investment banking advisors, legal
counsel and credit review. Such reimbursement shall not exceed $75,000. 
 (h) Due Diligence. Should the Standby
Purchaser at any time request a financial institution to extend credit to him collateralized by shares of the Company, and should such financial institution request reasonable access to information concerning the Company in order to underwrite such
credit request, then the Company shall grant such financial institution reasonable access to the information so requested. 

(i) Asset Resolution Plan. Within 10 days after Closing, the Standby Purchaser may identify assets with a carrying value of up to
$50 million as of the month-end prior to the Closing Date (the “Work-Out Assets”). Within 20 days thereafter, the Company shall adopt a plan (the “Asset Resolution Plan”) to accelerate its strategy with respect to the Work-Out
Assets, and the Plan shall provide for the disposition, work out or other resolution of the Work-Out Assets on or prior to December 31, 2013, based upon the additional capital raised. The Asset Resolution Plan requires the consent of the
Standby Purchaser, which consent shall not unreasonably be withheld. The Company shall promptly write-down or charge-off such assets, or increase the specific loan loss reserves relating to such assets, according to the Plan, to account for any
change in the Company’s work-out strategy with respect to each such assets; provided, however, that any write-down, charge-off or increase to loan loss reserves shall comply with generally accepted accounting principles in the United States and
applicable regulatory guidance issued by applicable banking regulators and the Commission. Notwithstanding the above, in no event shall the Company be required to accelerate its work-out strategy to a degree that would result in after-tax
credit-related charges that exceed the lesser of $15 million and the amount raised in the Stock Offerings and any Public Offering. 
 (j) Issuances Requiring Regulatory Approval. The Company shall not issue securities to any Person whose acquisition or ownership of such securities requires the prior clearance or nonobjection of,
or approval from, any state or federal bank or securities regulatory authority if the Standby Purchaser objects to such issuance or if such clearance, nonobjection or approval, has not been obtained, and any applicable waiting period expired, prior
to the Closing Date. The Company may elect not issue securities to any Person other than the Standby Purchaser whose acquisition of such securities requires the filing of Schedules 13D or 13G under Regulation 13D-G of the Exchange Act. 

(k) Nasdaq Listing Application. The Company will timely file an “Additional Listing Application” with the Nasdaq Capital
Market in connection with the Common Stock issued in the Stock Offerings and any Public Offering, and the Common Stock issued upon the exercise of the Warrants. The Company will use its best efforts to obtain, effect and maintain the listing of such
securities on the Nasdaq Capital Market and will file with the Nasdaq Capital Market all documents and notices required by the Nasdaq Capital Market of companies that have securities that are listed on the Nasdaq Capital Market. 

(l) Registration of Securities Issued to the Standby Purchaser. Subject to Section 2(a), the Company will register under the
Securities Act the Common Stock offered and/or sold to the Standby Purchaser in the offering and pursuant to his exercise of Warrants, and maintain a current prospectus relating to such shares. If for any reason any offer or sale of such shares to
the Standby Purchaser is not registered under the Securities Act, the Company shall enter into a registration rights agreement with the Standby Purchaser. Any such registration rights agreement shall include reasonable terms pursuant to which the
Company agrees to register, under the Securities Act and applicable state securities laws and regulations, the Standby Purchaser’s resale of any of his shares of Common Stock, at no cost to the Standby Purchaser. 

  
 8 

 Section 7. Conditions to Closing. 

(a) The obligations of the Standby Purchaser to consummate the transactions contemplated hereunder are subject to the fulfillment, prior
to or on the Closing Date, of the following conditions: 
 (i) The representations and warranties of the Company in
Section 3 shall be true and correct in all material respects as of the date hereof and at and as of the Closing Date as if made on such date (except for representations and warranties made as of a specified date, which shall be true and correct
in all material respects as of such specified date) and the Company shall have performed all of its obligations hereunder; 

(ii) Subsequent to the execution and delivery of this Agreement and prior to the Closing Date, there shall not have been any Material
Adverse Effect, nor shall there have occurred any breach of any covenant of the Company set forth in Section 7 hereof; 

(iii) As of the Closing Date, trading in the Common Stock shall not have been suspended by the Commission or Nasdaq Capital Market or
trading in securities generally on the Nasdaq Capital Market shall not have been suspended or limited or minimum prices shall not have been established on the Nasdaq Capital Market (a “Market Adverse Effect”); 

(iv) The Company shall have obtained any required federal, state and regulatory approvals for the Stock Offerings on conditions
reasonably satisfactory to the Standby Purchaser; and 
 (v) The Federal Reserve Bank of Richmond shall have approved the
holding company or change in control application of the Standby Purchaser without the imposition of any restrictions or conditions, which the Standby Purchaser determines is, in his reasonable discretion, unreasonably burdensome; 

(vi) The Virginia Corporation Commission, Bureau of Financial Institutions shall have approved the Standby Purchaser’s acquisition
of shares of the Company under Virginia law without the imposition of any restrictions or conditions, which the Standby Purchaser determines is, in his reasonable discretion, unreasonably burdensome; and 

(vii) If required by Section 6(l), the Company shall have executed and delivered a registration rights agreement substantially in
the form of Exhibit A hereto, or if such form of registration rights agreement is not included as Exhibit A hereto, a registration rights agreement that includes reasonable terms pursuant to which the Company agrees to register, under
the Securities Act and applicable state securities laws and regulations, the Standby Purchaser’s resale of any of his shares of Common Stock, at no cost to the Standby Purchaser. 

(b) The obligations of the Standby Purchaser to consummate the Committed Offering are subject to fulfillment, prior to or on the Closing
Date, of the following additional conditions: 
 (i) The Company shall have received valid subscriptions for a minimum of
2,500,000 Units in the Rights Offering and/or the Public Offering, including $1.0 million of subscriptions from the Company’s executive officers and directors, and 
 (ii) Units are available for purchase after the exercise of the Basic Subscription Privilege, in which case the Standby Purchaser shall purchase 350,000 Units, or such lesser number as may be available.

 (c) The obligations of the Company to consummate the transactions contemplated hereunder are subject to the fulfillment,
prior to or on the Closing Date, of the following conditions: 
 (i) The representations and warranties of the Standby Purchaser
in Section 4 shall be true and correct in all material respects as of the date hereof and at and as of the Closing Date as if made as of such date (except for representations and warranties made as of a specified date, which shall be true and
correct in all material respects as of such specified date) and the Standby Purchaser shall have performed all of its obligations hereunder; 

  
 9 

 (ii) The Standby Purchaser shall have executed and delivered (i) a lock-up agreement
substantially in the form of Exhibit B hereto, or if such form of lock-up agreement is not included as Exhibit B hereto, a reasonable lock-up agreement that restricts his resale of any shares purchased in the Stock Offerings or any
Public Offering for a period of up to 90 days, and (ii) a standstill agreement substantially in the form of Exhibit C hereto, or if such form of standstill agreement is not included as Exhibit C hereto, a reasonable standstill agreement
that restricts his ability to vote shares of Common Stock in excess of 45% of the Company’s outstanding shares; 
 (iii)
Standby Purchaser shall own less than 45% of the voting shares of the Company (calculated on a fully-diluted basis assuming that all Warrants are exercised) after the completion of the Stock Offerings and any Public Offering, which condition may be
waived by the Company; and 
 (iv) The Company shall have received valid subscriptions for a minimum of 2,500,000 Units in the
Stock Offerings and any Public Offering. 
 (d) The obligations of the Company and the Standby Purchaser to consummate the
transactions contemplated hereunder in connection with the Stock Offerings are subject to the fulfillment, prior to or on the Closing Date, of the following conditions: 
 (i) No judgment, injunction, decree, regulatory proceeding or other legal restraint shall prohibit, or have the effect of rendering unachievable, the consummation of the Stock Offerings or the material
transactions contemplated by this Agreement; 
 (ii) No stop order suspending the effectiveness of the Registration Statement or
any part thereof shall have been issued and no proceeding for that purpose shall have been initiated or threatened by the Commission; and any request of the Commission for inclusion of additional information in the Registration Statement or
otherwise shall have been complied with; and 
 (iii) The Common Stock issued in the Stock Offerings and any Public Offering
shall have been authorized for listing on the Nasdaq Capital Market.
 Section 8. Termination. 

(a) This Agreement may be terminated at any time prior to the Closing Date, by the Standby Purchaser by written notice to the Company if
there is (i) a Material Adverse Effect or (ii) a Market Adverse Effect that is not cured within twenty-one (21) days after the occurrence thereof (the “Cure Period”), provided that the right to terminate
this Agreement after the occurrence of each Material Adverse Effect or a Market Adverse Effect, which has not been cured within the Cure Period, shall expire seven (7) days after the expiration of such Cure Period. 

(b) This Agreement may be terminated by the Company on one hand or by the Standby Purchaser on the other hand, by written notice to the
other party hereto: 
 (i) At any time prior to the Closing Date, if there is a material breach of this Agreement by the other
party that is not cured within fifteen (15) days after the non-breaching party has delivered written notice to the breaching party of such breach; 
 (ii) At any time after June 30, 2012, unless the Closing has occurred prior to such date; or 
 (iii) Consummation of the Standby Offering is prohibited by law, rule or regulation. 
 (c) This Agreement may be terminated by the Company in the event that the Company determines that it is not in the best interests of the Company and its shareholders to go forward with the Stock
Offerings. 
 (d) The Company and the Standby Purchaser hereby agree that any termination of this Agreement pursuant to
Sections, 8(a), 8(b)(ii), 8(b)(iii), or 8(c) shall be without liability of the Company or the Standby Purchaser, except that should the Company terminate this Agreement pursuant to Section 8(c), the Company will pay the Standby Purchaser
liquidated damages in the amount of $150,000 (in addition to the expense reimbursement required by Section 6(g)). Such payment shall be made within three (3) Business Days of such termination. 

  
 10 

 Section 9. Survival. The representations and warranties of the Company
and the Standby Purchaser contained in this Agreement or in any certificate delivered hereunder shall survive the Closing hereunder. 
 Section 10. Notices. All notices, communications and deliveries required or permitted by this Agreement shall be made in writing signed by the party making the same, shall specify the
Section of this Agreement pursuant to which it is given or being made and shall be deemed given or made (a) on the date delivered if delivered in person, (b) on the third (3rd) Business Day after it is mailed if mailed by registered
or certified mail (return receipt requested) (with postage and other fees prepaid) or (c) on the day after it is delivered, prepaid, to an overnight express delivery service that confirms to the sender delivery on such day, as follows:

 If to the Company: 
 John M.
Presley 
 Chief Executive Officer and Managing Director 
 4222 Cox Road 
 Glen Allen, Virginia 2306 
 Telephone: (804) 273-1160 
 with a copy to: 

Kevin D. Pomfret, Esq. 
 LeClairRyan, A
Professional Corporation 
 951 East Byrd Street, 8th Floor 

Richmond, Virginia 23219 
 Telephone:
(804) 343-4384 
 If to the Standby Purchaser: 
 Kenneth R. Lehman 
 1408 N. Abingdon Street 

Arlington, Virginia 22207 
 Telephone:
(703) 812-5230 
 E-mail: ken@bankvc.net 
 with a copy to: 
 Luse Gorman Pomerenk & Schick, PC 

5335 Wisconsin Ave., NW 
 Suite 400 

Washington, DC 20015 
 Attention: Robert Lipsher,
Esq. or Ned A. Quint, Esq. 
 Telephone: (202) 274-2000 
 or to such other representative or at such other address of a party as such party hereto may furnish to the other parties in writing in accordance with this Section 10. 

Section 11. Assignment. This Agreement will be binding upon, and will inure to the benefit of and be enforceable by,
the parties hereto and their respective successors and assigns. 
 Section 12. Entire Agreement. Except as
specifically set forth herein, the Company and the Standby Purchaser mutually agree to be bound by the terms of the non-disclosure agreement dated August 8, 2011 (the “Non-Disclosure Agreement”) previously executed by
the Company and the Standby Purchaser, which Non-Disclosure Agreement is hereby incorporated herein by reference, and all information furnished by either party to the other party or its representatives pursuant hereto shall be subject to, and the
parties shall hold such information in confidence in accordance with, the provisions of the Non-Disclosure Agreement. The Company and the Standby Purchaser agree that such Non-Disclosure Agreement shall continue in accordance with their respective
terms, notwithstanding the termination of this Agreement. The Non-Disclosure Agreement and this Agreement embody the 

  
 11 

 
entire agreement and understanding between the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties, or undertakings, other than those
set forth or referred to herein or in the Non-Disclosure Agreement, with respect to the standby purchase commitments with respect to the Company’s securities. Other than with respect to matters set forth or referred to in the Non-Disclosure
Agreement, this Agreement supersedes all prior agreements and understandings between the parties with respect to the subject matter of this Agreement. 
 Section 13. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the Commonwealth of Virginia (other than its rules of conflict of
laws to the extent the application of the laws of another jurisdiction would be required thereby). 
 Section 14.
Severability. If any provision of this Agreement or the application thereof to any person or circumstances is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the
application of such provision to persons or circumstances other than those as to which it has been held invalid, void or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long
as the economic or legal substance of the transactions contemplated hereby is not affected in any manner adverse to any party. Upon such determination, the parties shall negotiate in good faith in an effort to agree upon a suitable and equitable
substitute provision to affect the original intent of the parties. 
 Section 15. Extension or Modification of the
Stock Offerings. 
 (a) Waiver. The Company may (a) waive irregularities in the manner of exercise of the
Rights, and (b) waive conditions relating to the method (but not the timing) of the exercise of the Rights to the extent that such waiver does not materially adversely affect the interests of the Standby Purchaser. 

(b) Issuance of Units in the Committed Offering Prior to the Record Date. With the consent of the Standby Purchaser, the Company
may elect to issue all or a portion of Units in the Committed Offering prior to the Record Date, provided that (i) a stockholder vote is not required for such issuance and (ii) all required regulatory approvals have been received. If the
Company elects to issue all or a portion of Units in the Committed Offering prior to the Record Date, the Standby Purchaser agrees to waive the requirements set forth in Sections 2(a)(i), 2(a)(ii), 7(b)(i) and 7(b)(ii), and the parties agree to
establish reasonable procedures to effect such issuance. 
 Section 16. Miscellaneous. 

(a) The Company shall not after the date of this Agreement enter into any agreement with respect to its securities which is inconsistent
with or violates the rights granted to the Standby Purchaser in this Agreement. 
 (b) Notwithstanding any term to the contrary
herein, no Person other than the Company, the Standby Purchaser and, where specifically stated, the Agent, shall be entitled to rely on and/or have the benefit of, as a third party beneficiary or under any other theory, any of the representations,
warranties, agreements, covenants or other provisions of this Agreement. 
 (c) The headings in this Agreement are for purposes
of reference only and shall not limit or otherwise affect the meaning of this Agreement. 
 (d) This Agreement may be executed
in any number of counterparts, each of which shall be deemed to be an original, but all of which, when taken together, shall constitute one and the same instrument. 
 [Remainder of this page intentionally left blank.] 

  
 12 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered
as of the date first above written. 
  

			
	COMPANY
	
	FIRST CAPITAL BANCORP, INC.
		
	BY:	 	 /s/ John M. Presley

		 	Name: John M. Presley
		 	Title: Managing Director & CEO
	
	STANDBY PURCHASER
		
		 	 /s/ Kenneth R. Lehman

		 	Kenneth R. Lehman

  
 13Control Severance Agreement for the Holding Company

 Exhibit 10.1 
 OPENWAVE SYSTEMS INC. 
 CHANGE OF CONTROL SEVERANCE AGREEMENT

 This Change of Control Severance Agreement (the “Agreement”) is made and entered into by and between
                    (the “Employee”) and Openwave Systems Inc., a Delaware corporation (the “Company”), effective as of
                    , 2011 (the “Effective Date”). 
 RECITALS 
 A. It is expected that the Company from time to time will consider the
possibility of an acquisition by another company or other change of control. The Board of Directors of the Company (the “Board”) recognizes that such consideration can be a distraction to the Employee and can cause the Employee to consider
alternative employment opportunities. The Board has determined that it is in the best interests of the Company and its shareholders to ensure that the Company will have the continued dedication and objectivity of the Employee, notwithstanding the
possibility, threat or occurrence of a Change of Control (as defined below) of the Company. 
 B. The Board believes that it is
in the best interests of the Company and its shareholders to provide the Employee with an incentive to continue his or her employment and to motivate the Employee to maximize the value of the Company upon a Change of Control for the benefit of its
shareholders. 
 C. The Board believes that it is imperative to provide the Employee with certain benefits upon the
Employee’s termination of employment following a Change of Control that provide the Employee with enhanced financial security and incentive and encouragement to the Employee to remain with the Company notwithstanding the possibility of a Change
of Control. 
 D. The Board has approved this Agreement and wishes to replace any existing individual agreements or arrangements
with the Employee entered into prior to the Effective Date and that relate to severance payments or vesting acceleration with respect to options, restricted stock or other compensatory stock-based awards upon a change of control of the ownership of
the Company, with this Agreement which is now the Company’s standard form of agreement with its officers with respect to this subject matter. 
 E. The benefits which are provided by virtue of this Agreement are in consideration of the Employee’s future execution of an agreement to certain terms, including a release of all claims against the
Company and related parties that releases the Company and such parties from any claims whatsoever arising from or related to the Employee’s employment relationship with the Company substantially in the form attached hereto Exhibit A of this
Agreement (the “Separation and Mutual Release Agreement”). 

 F. Certain capitalized terms used in the Agreement are defined in Section 6 below.

 The parties hereto agree as follows: 
 1. TERM OF AGREEMENT. This Agreement became effective on the Effective Date and shall terminate only upon the date that all obligations of the parties hereto with respect to this Agreement have
been satisfied. Except as otherwise expressly provided in Section 3(a) below, this Agreement supersedes and replaces any individual agreements or arrangements, or any relevant portions thereof, between the Company or any of its subsidiaries and
the Employee entered into prior to the Effective Date that relate to (1) any severance payments or benefits, (2) any other payments or benefits, or (3) any vesting acceleration, lapse of restrictions or other amendment with respect to
options or restricted stock of the Company, in each case related to a change of control of the ownership of the Company (however defined in any such agreements or arrangements). Any such individual agreements or arrangements, or any relevant
portions thereof addressing this subject matter (whether in the form of offer letters, employment agreements, change of control agreements, severance agreements, transition agreements, severance policies or plans, or otherwise) are hereby terminated
and shall no longer have any force or effect. 
 2. AT-WILL EMPLOYMENT. The Company and the Employee acknowledge that
this Agreement does not change the “at-will” status of Employee’s employment with the Company, as defined under applicable law. If the Employee’s employment terminates for any reason not in connection with a Change of Control,
the Employee shall not be entitled to any benefits, damages, awards or compensation under Section 3 of this Agreement but may be entitled to payments or benefits in accordance with the Company’s other established employee plans and
practices or pursuant to other agreements with the Company. 
 3. SEVERANCE AND OTHER BENEFITS. 

(a) Termination in Connection with a Change of Control. If the Employee’s employment terminates as a result of Involuntary
Termination at any time during the period commencing two (2) months prior to a Change of Control and ending eighteen (18) months following a Change of Control, then immediately after the later of (i) five (5) business days after
the Employee’s last date of employment with the Company and (ii) seven (7) calendar days after the execution and delivery of the Mutual Separation and Release Agreement,100% of the unvested portion of any stock option, restricted
stock or any other compensatory stock award granted to the Employee by the Company and then held by the Employee (except for any stock option, restricted stock or other compensatory stock award which by the express terms of the grant or by express
designation by the Board are expressly excluded from the effect of this Agreement) shall automatically be accelerated in full so as to become immediately and completely vested and no longer subject to any contractual restrictions. 

  
 2 

 In addition to such vesting acceleration, on the date that such acceleration occurs, the
Employee shall receive the following payments and benefits; provided, however, that it is the intention of the parties that the payments described in Section 3(a)(i) shall be made not later than March 15 of the calendar year after the
Involuntary Termination occurs, and, if not made by such date, because of the Employee’s failure to deliver an effective release of claims to the Company on or before March 8, the Employee shall be subject to the six-month delay described
in Section 8(f) if applicable: 
 (i) A lump sum cash payment equal to the Employee’s then current annual base salary
and target annual bonus multiplied by the factor specified below (without taking into account any reduction in base salary which could trigger an Involuntary Termination), less applicable withholding taxes or other withholding obligations of the
Company. The factor to be applied to the lump sum payment above shall be two (2) if the Employee is the Chief Executive Officer, one and one-half (1.5) if the Employee is the General Counsel or a member of E-Staff, and one (1) in all
other cases; in each case measured as of the date of the event constituting or giving rise to the occurrence of an Involuntary Termination. For example, if the Employee is a member of E-Staff, then the lump sum cash payment shall be equal to one and
one-half times the amount equal to the Employee’s annual base salary plus target annual bonus. 
 (ii) At the
Company’s expense, the Company will continue to provide Employee, and eligible dependents or other qualified beneficiaries of Employee, with medical, dental and vision insurance benefit coverage in coordination with the provisions of the
Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) eighteen (18) months if the Employee is the Chief Executive Officer, the General Counsel or a member of E-Staff, and twelve (12) months in all other cases,
provided that the Employee completes and timely files all necessary COBRA election documentation which will be sent to Employee after the last day of employment. After the periods specified in this Section 3(a)(ii), if Employee
wishes to continue such COBRA coverage, Employee will be required to pay all requisite premiums for such continued coverage. 

(b) Voluntary Resignation; Termination For Cause. If the Employee’s employment terminates by reason of the Employee’s
voluntary resignation (which is not an Involuntary Termination) or if the Employee is terminated for Cause, then the Employee shall not be entitled to receive any benefits under this Agreement, but may be entitled to benefits and other rights (if
any) as may then be established under the terms of the Company’s other then-existing severance and benefits plans and programs or pursuant to other agreements with the Company. 

(c) Disability; Death. If the Company terminates the Employee’s employment as a result of the Employee’s Disability, or
such Employee’s employment is terminated due to the death of the Employee, then the Employee shall not be entitled to receive any benefits under this Agreement, but may be entitled to benefits and other rights (if any) as may then be
established under the Company’s other then-existing severance and benefits plans and programs or pursuant to other agreements with the Company. 

  
 3 

 (d) Termination Not in Connection With a Change of Control. In the event the
Employee’s employment terminates not in connection with a Change of Control, for any reason or no reason, whether on account of Disability, death, or otherwise, either prior to the period commencing two (2) months before the occurrence of
a Change of Control or after the eighteen (18) month period following a Change of Control, then the Employee shall not be entitled to receive severance and any other benefits under this Agreement, but only as may then be established under the
Company’s other then-existing severance and benefits plans and programs or pursuant to other agreements with the Company. 

(e) Mitigation. The Employee shall not be required to mitigate damages or the amount of any payment or benefit provided under this
Agreement by seeking other employment or otherwise, nor shall the amount of any payment provided for under this Agreement be reduced by any compensation earned by the Employee as a result of employment by another employer or by any retirement
benefits received by the Employee after the date of the termination of employment, or otherwise. 
 4. ATTORNEY FEES, COSTS
AND EXPENSES. The Company shall promptly reimburse the Employee, on a monthly basis, for one-half (1/2) of the reasonable attorney fees, costs and expenses (collectively “Fees”) incurred by the Employee in connection with any
action brought by the Employee to enforce his or her rights hereunder. In the event the Employee is the prevailing party, the Company shall reimburse the Employee for any Fees incurred by the Employee not previously reimbursed by the Company.
However, if the Employee is not the prevailing party, the Employee shall immediately repay to the Company all previously paid reimbursements. The prevailing party shall be determined based upon the applicable court’s or arbitrator’s
determination of which party prevailed on the major contested issues, with reference to the amount awarded or agreed to and without regard to whether or not the action resulted in a final judgment or was settled. 

5. RESERVED. 
 6. DEFINITION OF TERMS. The following terms used in this Agreement shall have the following meanings: 
 (a) Cause. “Cause” shall mean (i) gross negligence or willful misconduct in the performance of the Employee’s duties to the Company; (ii) repeated unexplained or
unjustified absences from the Company; (iii) a material and willful violation of any federal or state law which if made public would injure the business or reputation of the Company as reasonably determined by the Board of Directors of the
Company; (iv) refusal or willful failure to act in accordance with any specific lawful direction or order of the Company or stated lawful written policy of the Company; (v) commission of any act of fraud with respect to the Company; or
(vi) conviction of a felony or a crime involving moral turpitude causing material harm to the standing and reputation of the Company, in each case as reasonably determined by the Board of Directors of the Company. 

  
 4 

 (b) Change of Control. “Change of Control” means the occurrence of any of
the following events: 
 (i) The sale, exchange, lease or other disposition of all or substantially all of the assets of the
Company to a person or group of related persons (as such terms are defined or described in Sections 3(a)(9) and 13(d)(3) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) that will continue the business of the
Company in the future; 
 (ii) The sale, exchange, lease or other disposition of both the Mediation Business Unit of the
Company and the Messaging Business Unit of the Company (whether through an asset sale or otherwise and whether in a series of related or unrelated transactions) to a person or group of related persons (as such terms are defined or described in
Sections 3(a)(9) and 13(d)(3) of the Exchange Act); 
 (iii) A merger or consolidation involving the Company in which the
voting securities of the Company owned by the shareholders of the Company immediately prior to such merger or consolidation do not represent, after conversion if applicable, more than fifty percent (50%) of the total voting power of the
surviving controlling entity outstanding immediately after such merger or consolidation; provided that any person who (1) was a beneficial owner (within the meaning of Rules 13d-3 and 13d-5 promulgated under the Exchange Act) of the voting
securities of the Company immediately prior to such merger or consolidation, and (2) is a beneficial owner (or is part of a group of related persons that is a beneficial owner) of more than 20% of the securities of the Company immediately after
such merger or consolidation, shall be excluded from the list of “shareholders of the Company immediately prior to such merger or consolidation” for purposes of the preceding calculation); or 

(iv) The direct or indirect acquisition of beneficial ownership of at least fifty percent (50%) of the voting securities of the
Company by a person or group of related persons (as such terms are defined or described in Sections 3(a)(9) and 13(d)(3) of the Exchange Act); provided, that “person or group of related persons” shall not include the Company, a subsidiary
of the Company, or an employee benefit plan sponsored by the Company or a subsidiary of the Company (including any trustee of such plan acting as trustee). 
 For purposes of this section, the Mediation Business Unit of the Company is comprised of the business units of the Company that develop and market service mediation products, including but not limited to,
MAG, Integra, Web Adaptor (Openweb), Mobile Edge Security Suite, Passport, Smart Policy, Web Security, Web Optimization, Media Optimization, Amplicity and Analytics, and the Messaging Business Unit of the Company is comprised of the business units
of the Company that market and develop Email MX, Richmail and Edge GX. 
 (c) Disability. “Disability” shall
mean that the Employee has been unable to perform his or her Company duties as the result of his or her incapacity due to physical or mental illness or injury, and such inability, at least twenty-six (26) weeks

  
 5 

 
after its commencement, is determined to be total and permanent by a physician selected by the Employee or the Employee’s legal representative and acceptable to the Company or its insurers
(such agreement as to acceptability not to be unreasonably withheld). Termination resulting from Disability may only be effected after at least thirty (30) days’ written notice by the Company of its intention to terminate the
Employee’s employment. In the event that the Employee resumes the performance of substantially all of his or her duties hereunder before the termination of his or her employment becomes effective, the notice of intent to terminate shall
automatically be deemed to have been revoked. 
 (d) E-Staff. “E-Staff” shall mean the senior executives of the
Company who report directly to the Chief Executive Officer. 
 (e) Involuntary Termination. “Involuntary
Termination” shall mean the Company’s termination of Employee’s employment or the Employee’s resignation from the Company, as applicable, in either case upon or within 3 months after the occurrence of any of the following events:
(i) without the Employee’s express written consent, the material reduction of the Employee’s duties, authority, responsibilities, job title or reporting relationships relative to the Employee’s duties, authority,
responsibilities, job title, or reporting relationships as in effect immediately prior to such reduction, or the assignment to the Employee of such reduced duties, authority, responsibilities, job title, or reporting relationships; (ii) without
the Employee’s express written consent, a material reduction, without good business reasons, of the facilities and perquisites (including office space, secretarial support, other support staff, and location) available to the Employee
immediately prior to such reduction; (iii) a material reduction by the Company in the base salary of the Employee as in effect immediately prior to such reduction; (iv) a material reduction by the Company in the kind or level of employee
benefits, including bonuses, to which the Employee was entitled immediately prior to such reduction with the result that the Employee’s overall benefits package is materially reduced; (v) the relocation of the Employee to a facility or a
location more than twenty-five (25) miles from the Employee’s then present location, without the Employee’s express written consent; (vi) any termination of the Employee by the Company which is not effected for Disability or for
Cause, or any actual or purported termination effected by the Company for Disability or for Cause for which the grounds relied upon are not valid; (vii) the failure of the Company to obtain the assumption of this Agreement by any successors
contemplated in Section 7(a) below; or (viii) any act or set of facts or circumstances which would, under California case law or statute, constitute a constructive termination of the Employee. For purposes of clause (i) of the
immediately preceding sentence, the Employee’s responsibilities shall be deemed to be materially reduced if the Employee is no longer an executive officer (in the case of current executive officers) or on the executive officer management staff
(in the case of current E-Staff) of such ultimate parent entity. Notwithstanding the foregoing, an Involuntary Termination only shall be deemed to have occurred upon the Employee’s resignation from the Company if (i) the Employee provides
notice to the Company within ninety (90) days after the initial occurrence of the event forming the basis for the resignation and (ii) the Company fails to substantially cure the event within thirty (30) days after receiving notice.

  
 6 

 7. SUCCESSORS. 

(a) Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase, merger,
consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the obligations under this Agreement and agree expressly to perform the obligations under this Agreement in the same
manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company” shall include any successor to the Company’s business
and/or assets which executes and delivers the assumption agreement described in this Section 7(a) or which becomes bound by the terms of this Agreement by operation of law or otherwise. 

(b) Employee’s Successors. The terms of this Agreement and all rights of the Employee hereunder shall inure to the benefit
of, and be enforceable by, the Employee’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 
 8. MISCELLANEOUS. 
 (a) General. Notices and all other
communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given either (i) when personally delivered or sent by facsimile or (ii) five (5) days after being mailed by U.S. registered or
certified mail, return receipt requested and postage prepaid. In the case of the Employee, mailed notices shall be addressed to him or her at the home address or facsimile number which he or she most recently communicated to the Company in writing.
In the case of the Company, mailed notices or notices sent by facsimile shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its General Counsel or Chief Financial Officer. 

(b) Governing Law; Jurisdiction and Venue. This Agreement shall be governed by the internal laws of the State of California. Both
Employee and the Company hereby agree to the jurisdiction and venue of the courts of the State of California and Federal Courts of the United States of America located within the County of Santa Clara for all actions relating to this Agreement.
Employee further agrees that service upon Employee in any such action or proceeding may be made by first class mail, certified or registered, to the Employee’s address as last appearing on the records of the Company or by personal service on
Employee. 
 (c) Counterparts; Facsimile. This Agreement may be executed in separate counterparts, any one of which need
not contain signatures of more than one party, but all of which taken together will constitute one and the same Agreement. The executed copy of this Agreement may be delivered by facsimile or in original form. 

(d) Waiver. If either party should waive any breach of any provisions of this Agreement, they shall not thereby be deemed to have
waived any preceding or succeeding breach of the same or any other provision of this Agreement. 

  
 7 

 (e) Headings. The headings of the sections hereof are inserted for convenience only
and shall not be deemed to constitute a part hereof or to affect the meaning thereof. 
 (f) Construction; Six-Month Delay
for Specified Employees. It is the intent of the parties hereto that this Agreement be in compliance with Section 409A of the Code and the Treasury Regulations promulgated thereunder. If any amounts to be paid under Section 3(a)(i)
hereof are determined to constitute non-qualified deferred compensation subject to Internal Revenue Code Section 409A, then such amounts payable to “specified employees” of the Company (as that term is defined in Treasury Regulation
Section 1.409A-1(i)) shall be delayed for six months in accordance with Treasury Regulation Section 1.409A-3(i)(2), but only to the extent necessary to avoid the imposition of the 20 percent additional tax imposed pursuant to Internal
Revenue Code Section 409A(a) as a result of the application of Internal Revenue Code Section 409A(a)(2)(B)(i). 
 IN
WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the date set forth above. 
  

							
	COMPANY	 		 	OPENWAVE SYSTEMS INC.
			
		 		 	  

		 		 	Name:	 	Michael Mulica
		 		 	Title:	 	President and CEO
		 		 	
				
	 EMPLOYEE
	 		 	Signature:	 	 
		 		 	Name:	 	

  
 8 

 EXHIBIT A 
 DO NOT SIGN BELOW UNLESS AND UNTIL OPENWAVE SYSTEMS INC. HAS ADVISED YOU THAT YOU ARE ELIGIBLE FOR A SEVERANCE PAYMENT PURSUANT TO THE TERMS OF YOUR CHANGE OF CONTROL SEVERANCE AGREEMENT. 

RELEASE OF CLAIMS 
 1. In exchange for the severance payment and other benefits described in Section 3 of my Change of Control Severance Agreement with Openwave Systems Inc. (the “Company”), I and my
successors and assigns release the Company and its successors and assigns, and each of their respective parents, divisions, subsidiaries, and affiliated entities, and each of those entities’ respective current and former shareholders,
investors, directors, officers, employees, agents, attorneys, insurers, legal successors and assigns, from any and all claims, actions and causes of action, whether now known or unknown, that I have, or at any other time had, or shall or may have
against those released parties based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever occurring or existing at any time up to and including the date on which I sign this Release of Claims, including, but not limited
to, any claims of wrongful termination, breach of express or implied contract, fraud, negligent misrepresentation, defamation, infliction of emotional distress, retaliation or national origin, race, age, sex, disability, sexual orientation or other
discrimination or harassment under the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans With Disabilities Act, the Fair Employment and Housing Act, or any other applicable law. This Release of Claims will not apply
to any rights or claims that cannot be released as a matter of law, including any statutory indemnity rights, to any claims under the terms of the Indemnity Agreement entered into by me and the Company, if any, and it will not apply to any claims
that arise after the date on which I sign this Release of Claims. 
 2. I acknowledge that I have read section 1542 of the Civil
Code of the State of California which, in its entirety, states: 
 A general release does not extend to claims which the creditor
does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 
 I hereby waive any rights that I have under section 1542 of the Civil Code of the State of California (or any similar provision of the laws of any other jurisdiction) to the fullest extent that I may
lawfully waive such rights pertaining to this Release of Claims, and I affirm that it is my intention to release all known and unknown claims that I have against the parties released in Paragraph 1 above. 

 3. I acknowledge that I have been paid all earned wages and accrued, unused vacation/paid
time off that I earned during my employment with the Company. 
 4. I agree that I will not, at any time in the future, make any
critical or disparaging statements about the Company, its products or its employees, unless such statements are made truthfully in response to a subpoena or other legal process. The Company agrees that its officers and directors will not, at any
time in the future, make any critical or disparaging statements about me to any third party, unless such statements are made truthfully in response to a subpoena or other legal process. 

5. I acknowledge that I have returned to the Company all Company property and documents (whether in paper or electronic form, and all
copies thereof) and any Company proprietary or confidential information (and all reproductions thereof, in whole or in part) that were in my possession, custody, or control. I acknowledge and agree that following the termination of my employment
with the Company, I continue to be bound by, and will comply with, the terms of the Confidential Information and Invention Assignment Agreement between me and the Company of             ,
20    . 
 6. This Release of Claims constitutes the entire agreement between the Company and me with regard
to the subject matter hereof. Both parties acknowledge that they have carefully read and fully understand this Release of Claims and I have not relied on any statement, written or oral, which is not set forth in this document. Both parties
understand and agree that this Release of Claims cannot be modified or amended except by a document signed by me and an authorized officer of the Company. 
 I UNDERSTAND THAT I SHOULD CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS RELEASE OF CLAIMS AND THAT I AM GIVING UP ANY LEGAL CLAIMS I HAVE AGAINST THE PARTIES RELEASED ABOVE BY SIGNING THIS RELEASE OF
CLAIMS. I ALSO UNDERSTAND THAT I MAY HAVE UP TO 21 DAYS TO CONSIDER AND SIGN THIS RELEASE OF CLAIMS, THAT I MAY REVOKE THIS RELEASE OF CLAIMS AT ANY TIME DURING THE SEVEN DAY PERIOD AFTER I SIGN IT BY WRITTEN NOTICE OF REVOCATION TO THE GENERAL
COUNSEL OF THE COMPANY, AND THAT THIS RELEASE OF CLAIMS WILL NOT BECOME EFFECTIVE UNLESS I DO NOT REVOKE IT DURING THAT SEVEN DAY PERIOD. I ACKNOWLEDGE THAT I HAVE READ AND UNDERSTAND THIS RELEASE OF CLAIMS, AND I AM SIGNING THIS RELEASE OF CLAIMS
KNOWINGLY, WILLINGLY AND VOLUNTARILY IN EXCHANGE FOR THE SEVERANCE PAYMENT AND BENEFITS DESCRIBED ABOVE, WHICH PAYMENT AND BENEFITS I AM NOT ENTITLED TO RECEIVE EXCEPT AS A RESULT OF SIGNING THIS RELEASE OF CLAIMS. 

[Signature page follows.] 

							
	 Dated:                ,
20    
	 	Signature:	 	  

		 		 		 	Name:
			
		 		 	OPENWAVE SYSTEMS INC.
				
	 Dated:                ,
20    
	 		 	By:	 	  

		 		 	Its:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00198-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00198-of-00352.parquet"}]]