Document:

EX-10.2

 Exhibit 10.2 

Execution Version 

CONSENT AGREEMENT 
 This
CONSENT AGREEMENT (this “Consent”), is made and entered into as of April 26, 2016, by and among TALEN ENERGY SUPPLY, LLC, a Delaware limited liability company (the “Borrower”), CITIBANK, N.A., as administrative
agent (in such capacity, together with any permitted successor thereto, the “Administrative Agent”) and as collateral trustee (in such capacity, together with any permitted successor thereto, the “Collateral
Trustee”), and each of the undersigned Lenders (as defined herein). 
 W I T N E S S E T H 

WHEREAS, the Borrower, the Administrative Agent, the Collateral Trustee, the undersigned Lenders and the other Lenders parties thereto have
entered into that certain Credit Agreement, dated as of June 1, 2015 (the “Original Credit Agreement”; and as the same may be amended, restated, supplemented or otherwise modified from time to time, including pursuant to the
terms of this Consent, the “Credit Agreement”); 
 WHEREAS, the Borrower is a wholly-owned indirect subsidiary of Talen
Energy Corporation, a Delaware corporation (“Talen”); 
 WHEREAS, Talen intends to enter into a transaction or series of
transactions that results in one or more of Raven Power Holdings LLC, Sapphire Power Holdings LLC, C/R Energy Jade, LLC or their respective Affiliates owning at least a majority voting interest, directly or indirectly, in the Borrower (the
“Proposed Transfer”); 
 WHEREAS, the Borrower desires to obtain the consent of the Required Lenders under the Credit
Agreement to the Proposed Transfer; 
 WHEREAS, the undersigned Lenders are entitled to act as the Required Lenders under the Credit
Agreement; and 
 WHEREAS, the parties hereto desire to enter into this Consent in accordance with the provisions of Section 13.10 of
the Credit Agreement to permit the consummation of the Proposed Transfer and to make certain other modifications to the Original Credit Agreement, all as more fully set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and subject to the terms and conditions herein set forth, the
parties hereby agree as follows: 
 SECTION 1. DEFINITIONS 

Unless otherwise defined herein, including in the text of the recitals, all capitalized terms used herein shall have the respective meanings
given to such terms in Section 1 of the Credit Agreement. The principles of interpretation set forth therein shall apply to this Consent in all respects. 

 SECTION 2. CONSENT AND WAIVER  

By their execution hereof, and subject to the terms and conditions set forth in Section 5.1 below, the Required Lenders hereby
(a) consent to the Proposed Transfer in all respects and (b) waive any Default or Event of Default, or any breach of any provision of the Credit Agreement, that may otherwise have been deemed to occur as a result of the Proposed Transfer
(other than any such Default or Event of Default arising solely as a result of the Borrower’s failure to comply with any applicable repurchase offer obligations under any series of Material Indebtedness in connection with the Proposed
Transfer). 
 SECTION 3. AMENDMENTS, AGREEMENTS AND ACKNOWLEDGMENTS 

3.1 Initial Revolving Loan Commitments. The parties hereto hereby acknowledge and agree that, with effect on and as of the
Amendment Effective Date (as defined below): 
 (a) The Total Revolving Loan Commitment shall be reduced to
$1,400,000,000 pursuant to Section 4.02 of the Credit Agreement; and 
 (b) Each Lender’s Initial Revolving Loan
Commitment shall be reduced accordingly to the amount set forth opposite such Lender’s name on Annex A hereto. 
 3.2
Applicable Margin. With effect on and as of the Amendment Effective Date, the definition of “Applicable Margin” in Section 1 of the Original Credit Agreement shall be amended as follows: 

(a) Clause (ii) of such definition shall be amended and restated to read in its entirety as follows: 

“(ii) in the case of Unutilized Revolving Loan Commitments attributable to Initial Revolving Loan Commitments, 0.5%.” 

(b) The table set forth in such definition shall be replaced in its entirety with the following table: 

 

									
	 Total Leverage Ratio
	  	Initial Revolving Loan
and Swingline Loan
Base Rate Margin	 	 	Initial Revolving Loan
LIBO Rate Margin	 
	 Greater than or equal to 4.00:1.00
	  	 	1.75	% 	 	 	2.75	% 
	 Greater than or equal to 3.00:1.00 but less than 4.00:1.00
	  	 	1.50	% 	 	 	2.50	% 
	 Less than 3.00:1.00
	  	 	1.25	% 	 	 	2.25	% 

 3.3 Restricted Payments. For the avoidance of doubt, the Borrower hereby acknowledges and agrees
that any Restricted Payments made by it in connection with the Proposed Transfer shall be subject to and included in the calculations required under Section 10.03(a)(B) of the Credit Agreement for the purposes thereof.  

  
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 3.4 Borrower Reallocation Option. The parties hereto hereby acknowledge and agree
that, at any time from and after the date hereof, the Borrower shall have the option, upon two (2) Business Days’ prior written notice to the Administrative Agent, to (a) reduce the Maximum Incremental Facilities Amount by an
aggregate amount not to exceed $250,000,000 and (b) substantially concurrently therewith, increase the amount of aggregate outstanding obligations permitted to be secured by Liens pursuant to Section 10.01(bb) of the Credit Agreement by a
corresponding amount.  
 SECTION 4. REPRESENTATIONS AND WARRANTIES. 

4.1 Each of the Credit Parties represents and warrants to the Administrative Agent and the Lenders as of the Consent Effective Date (as defined
below) that: 
 (a) this Consent has been duly authorized, executed and delivered by it and constitutes a legal, valid and
binding obligation of each Credit Party party hereto, enforceable against such Credit Party in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws
affecting creditors’ rights generally and by general principles of equity; 
 (b) immediately before and after giving
effect to this Consent, no Default or Event of Default exists or will result from the execution of this Consent; and 
 (c)
all representations and warranties of the Borrower and each other Credit Party contained in Section 8 of the Credit Agreement or any other Credit Document are true and correct in all material respects (and in all respects if any such
representation or warranty is already qualified by materiality) on and as of the Consent Effective Date (immediately before and after giving effect to this Consent), except to the extent that such representations and warranties specifically refer to
an earlier date, in which case they are true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) as of such earlier date. 

SECTION 5. EFFECTIVENESS 
 5.1 Consent
Effective Date. This Consent shall become effective without any further action or consent of any other Person upon the satisfaction or waiver of the following conditions precedent in accordance with the terms of Section 13.10(a) of the
Credit Agreement (the date of such satisfaction or waiver, the “Consent Effective Date”): 
 (a) the
Administrative Agent shall have received a duly executed counterpart to this Consent from Borrower, each Credit Party party hereto and the Required Lenders; 

(b) the Administrative Agent shall have received from New York counsel to the Credit Parties (to be reasonably acceptable to
the Administrative Agent) a customary opinion addressed to the Administrative Agent, the Collateral Trustee and each of the Lenders and dated the Consent Effective Date; and 

  
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 (c) the Administrative Agent shall have received an officer’s certificate
executed by an officer of the Borrower in form and substance reasonably acceptable to the Administrative Agent. 
 5.2 Amendment
Effective Date. The Amendments in Section 3 hereof shall become effective without any further action or consent of any other Person upon the satisfaction or waiver of the following conditions precedent in accordance with the terms of
Section 13.10(a) of the Credit Agreement (the date of such satisfaction or waiver, the “Amendment Effective Date”): 
  

	 	(a)	the Consent Effective Date shall have occurred; and 

  

	 	(b)	the Proposed Transfer shall have been consummated. 

 SECTION 6. CONSENT FEE 

6.1 Consent Fee. Upon and substantially concurrently with the consummation of the Proposed Transfer on the Amendment Effective
Date, the Borrower shall pay to the Administrative Agent, for distribution to each of the Required Lenders that has delivered a counterpart signature page to this Consent at or prior to 1:00 p.m. on the date hereof, a non-refundable fee (the
“Consent Fee”) equal to the product of 0.50% and the amount of such Lender’s Initial Revolving Loan Commitment as of the date hereof.  

6.2 Event of Default. The failure of the Credit Parties to pay the Consent Fee in accordance with Section 6.1 above shall
constitute an Event of Default under Section 11.01(b) of the Credit Agreement.  
 SECTION 7. MISCELLANEOUS 

7.1 Indemnification; Costs and Expenses. Borrower hereby agrees to indemnify and reimburse the Administrative Agent for its reasonable
and documented out-of-pocket expenses in connection with this Amendment, including the reasonable fees, charges and disbursements of one counsel for the Administrative Agent, all in accordance with the terms and conditions of Section 13.01 of
the Credit Agreement. 
 7.2 Headings. The headings of the several sections and subsections of this Consent are inserted for
convenience only and shall not in any way affect the meaning or construction of any provision of this Consent. 
 7.3
Assignment. Each of the undersigned Lenders hereby agrees that it will not assign all or any portion of its Initial Revolving Loan Commitment unless the assignee executes a joinder to this Consent with respect to such assigned Initial
Revolving Loan Commitment. 
 7.4 Counterparts. This Consent may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to this Consent by electronic delivery
shall be effective as delivery of a manually executed counterpart of this Consent. 

  
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 7.5 Governing Law. Section 13.07 of the Credit Agreement is incorporated
herein by reference mutatis mutandis. 
 7.6 Reference to and Effect on the Credit Agreement. 

(a) On and after the date hereof, each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by this Consent, and each reference to the Credit Agreement in the other Credit Documents (as defined in
the Credit Agreement) shall mean the Credit Agreement, as amended by this Consent. 
 (b) The Credit Agreement and each of
the other Credit Documents is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed. 

(c) The execution, delivery and effectiveness of this Consent shall not, except as expressly provided herein, operate as a
waiver of any right, power or remedy of any party to the Credit Agreement. On and after the effectiveness of this Consent, this Consent shall for all purposes constitute a Credit Document under and as defined in the Credit Agreement. 

7.7 Certain Collateral Matters. Within sixty (60) days after the Amendment Effective Date, unless waived or extended by the
Administrative Agent, the Borrower shall, or with respect to clause (a) below, shall use its commercially reasonable efforts to, deliver to the Administrative Agent either the items listed in paragraph (a) or the items listed in paragraph
(b), as follows: 
 (a) a written confirmation or an opinion from local counsel in the jurisdiction in which the Mortgaged
Property is located that this Consent does not adversely affect the enforceability of the existing Mortgage as security for payment and performance of the Obligations evidenced by the Credit Agreement as amended hereby; and (ii) a current title
search confirming that such Mortgaged Property is free and clear of all Liens except those Liens created or permitted under the Credit Agreement; or 

(b) (i) an amendment to the existing Mortgage (the “Mortgage Amendment”) in form for recording, together with such
certificates, affidavits, questionnaires or returns as shall be required in connection with the recording or filing thereof under applicable law; (ii) a favorable opinion, addressed to the Administrative Agent and the Secured Parties covering,
among other things, the due authorization, execution, delivery and enforceability of the applicable Mortgage as amended by the Mortgage Amendment; and (iii) a date down endorsement to the existing title policy insuring each Mortgage, confirming
that the lien of such Mortgage is free and clear of all liens except those Liens permitted under the Credit Agreement. 
 7.8
Acknowledgement and Affirmation. Each Credit Party hereby expressly acknowledges that (i) all of its obligations under the Security Documents and the other Credit Documents to which it is a party are reaffirmed and remain in full force
and effect on a  

  
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continuous basis, (ii) its grant of security interests pursuant to the Security Documents are reaffirmed and remain in full force and effect after giving effect to this Consent and
(iii) except as expressly set forth herein, the execution of this Consent shall not operate as a waiver of any right, power or remedy of the Administrative Agent or Lenders, constitute a waiver of any provision of any of the Credit Documents or
serve to effect a novation of the Obligations. 
 [REMAINDER OF PAGE LEFT BLANK INTENTIONALLY] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered
as of the day and year first above written. 
  

			
	TALEN ENERGY SUPPLY, LLC, as Borrower
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	TALEN INVESTMENT CORPORATION, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	TALEN GENERATION, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer

 [Signature Page to Consent Agreement] 

			
	
	RAVEN POWER GENERATION HOLDINGS, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	JADE POWER GENERATION HOLDINGS, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	SUSQUEHANNA NUCLEAR, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	MARTINS CREEK, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	BRUNNER ISLAND, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer

 [Signature Page to Consent Agreement] 

 
			
	PENNSYLVANIA MINES, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	MONTOUR, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	LOWER MOUNT BETHEL ENERGY, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	RAVEN POWER FINANCE LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	RAVEN POWER OPERATING LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer

 [Signature Page to
Consent Agreement] 

 
			
	
	RAVEN POWER MARKETING LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	RAVEN POWER FORT SMALLWOOD LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	RAVEN LOT 15 LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	RAVEN FS PROPERTY HOLDINGS LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	FORT ARMISTEAD ROAD – LOT 15 LANDFILL, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer

 [Signature Page to Consent Agreement] 

 
			
	H.A. WAGNER LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	BRANDON SHORES LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	C/R TOPAZ HOLDINGS, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	TOPAZ POWER GROUP GP II, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer

 [Signature Page to Consent Agreement] 

 
			
	TOPAZ POWER GROUP LP II, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	TOPAZ POWER HOLDINGS, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	BARNEY M. DAVIS, LP, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	LAREDO WLE, LP, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer
	
	NUECES BAY WLE, LP, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer

 [Signature Page to Consent Agreement] 

 
			
	TALEN ENERGY MARKETING, LLC, as Subsidiary Guarantor
		
	By:	 	 /s/ Russell R. Clelland

	Name:	 	Russell R. Clelland
	Title:	 	Vice President and Treasurer

 [Signature Page to Consent Agreement] 

 
			
	CITIBANK, N.A., as Administrative Agent and as Collateral Trustee
		
	 By:
	 	 /s/ Michael V. Moore

	 Name:
	 	Michael V. Moore
	 Title:
	 	Vice President

 [Signature Page to Consent Agreement] 

 
			
	MORGAN STANLEY BANK, N.A., as a Lender
		
	By:	 	 /s/ Patrick Layton

	Name:	 	Patrick Layton
	Title:	 	Authorized Signatory

 [Signature Page to Consent Agreement] 

 
			
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	 /s/ William A. Merritt, III

	Name:	 	William A. Merritt, III
	Title:	 	Director

 [Signature Page to Consent Agreement] 

 
			
	 UBS AG, Stamford Branch,
 as a
Lender

		
	By:	 	 /s/ Darlene Arias

	Name:	 	Darlene Arias
	Title:	 	Director
		
	By:	 	 /s/ Craig Pearson

	Name:	 	Craig Pearson
	Title:	 	Associate Director

 [Signature Page to Consent Agreement] 

 
			
	 Royal Bank of Canada,
 as a
Lender

		
	By:	 	 /s/ Frank Lambrinos

	Name:	 	Frank Lambrinos
	Title:	 	Authorized Signatory

 [Signature Page to Consent Agreement] 

 
			
	 BARCLAYS BANK PLC,
 as a
Lender

		
	By:	 	 /s/ Kevin Crealese

	Name:	 	Kevin Crealese
	Title:	 	Managing Director

 [Signature Page to Consent Agreement] 

 
			
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

	as a Lender
		
	By:	 	 /s/ Mikhail Faybusovich

	Name:	 	Mikhail Faybusovich
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Karim Rahimtoola

	Name:	 	Karim Rahimtoola
	Title:	 	Authorized Signatory

 [Signature Page to Consent Agreement] 

 
			
	 GOLDMAN SACHS BANK USA,
 as a
Lender

		
	By:	 	 /s/ Jerry Li

	Name:	 	Jerry Li
	Title:	 	Authorized Signatory

 [Signature Page to Consent Agreement] 

 
			
	 DEUTSCHE BANK AG NEW YORK BRANCH,

as a Lender

		
	By:	 	 /s/ Marcus M. Tarkington

	Name:	 	Marcus M. Tarkington
	Title:	 	Director
		
	By:	 	 /s/ Michael Shannon

	Name:	 	Michael Shannon
	Title:	 	Vice President

 [Signature Page to Consent Agreement] 

 
			
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a Lender

		
	By:	 	 /s/ Nietzsche Rodricks

	Name:	 	Nietzsche Rodricks
	Title:	 	Managing Director

 [Signature Page to Consent Agreement] 

 
			
	BNP PARIBAS, as a Lender
		
	By:	 	 /s/ Francis J. Delaney

	Name:	 	Francis J. Delaney
	Title:	 	Managing Director
		
	By:	 	 /s/ Mark Renaud

	Name:	 	Mark Renaud
	Title:	 	Managing Director

 [Signature Page to Consent Agreement]EX-10.2

 EXHIBIT 10.2 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT, dated as of this 3rd day of June, 2016, by and between UNITED BANKSHARES, INC., a West
Virginia corporation and registered bank holding company (the “Holding Company”), UNITED BANK, a commercial bank chartered under the laws of the Commonwealth of Virginia (the “Bank”) and MICHAEL P. FITZGERALD (the
“Executive”). 
 WHEREAS, the Executive was a key executive of Bank of Georgetown, a District of Columbia chartered
commercial bank; and 
 WHEREAS, Bank of Georgetown merged with (or will merge as of the date first above written) and into Bank (the
“Merger”) pursuant to the Agreement and Plan of Reorganization dated November 9, 2015, by and between the Holding Company and Bank of Georgetown (the “Merger Agreement”), and the Merger became or will become effective at the
time and in the manner set forth in the Merger Agreement (the “Effective Time”); and 
 WHEREAS, it has been the desire of
the Bank to have the benefit of Executive’s continued loyalty and service from and after the Effective Time, and Bank now desires to continue to have the benefit thereof, from and after the date of this Agreement first above written; and 

WHEREAS, the Executive wishes to continue in the employ of the Bank, subject to the conditions set forth herein; and 

WHEREAS, the Executive entered into an Employment Agreement with Bank of Georgetown as of February 2, 2004, which Employment
Agreement was amended by a First Amendment dated December 24, 2015 (said Employment Agreement and First Amendment are sometimes hereinafter referred to as the “Former Employment Agreement”); and 

WHEREAS, the Bank and the Executive wish to set forth the terms and conditions for the remainder of the period of employment until its
termination on June 1, 2018, and to set forth certain covenants and agreements to survive thereafter, by Amending and Restating the Former Employment Agreement in full as set forth herein. 

 NOW THEREFORE WITNESSETH: 

In consideration of the mutual covenants and agreements set forth herein, the parties agree as follows: 

1. Effect of Merger on This Amended and Restated Employment Agreement and on the Former Employment Agreement. Executive and Bank, as
successor by merger to Bank of Georgetown, acknowledge and agree that, from and after the Effective Time, this Amended and Restated Employment Agreement, upon its effective date, shall immediately and fully, amend and restate, and fully supersede,
the Former Employment Agreement, provided that in the event that the Merger does not occur for any reason, this Amended and Restated Employment Agreement will automatically become null and void, and neither party shall be required to perform any
duties or obligations set forth herein. 
 2. Employment and Duties. The Executive shall continue to be employed by the Bank from and
after the date first above written, during the Term set forth in Section 3, as Vice Chairman of Bank (the “Position”) on the terms and subject to the conditions of this Agreement. Executive shall also, if so elected, serve as Vice
Chairman of the Board of Directors of the Bank and as a Director of the Holding Company. The Executive accepts such employment and agrees to perform the duties and responsibilities consistent with the Position. The Executive agrees to devote the
necessary time and attention to the discharge of such duties and responsibilities relating to the Position. Although the Executive’s principal residence is in the State of Florida, he agrees that he will make himself available at such times as
the Bank may reasonably request. 
 3. Term. The Term of this Agreement is effective as of the date first above written, and will
continue through June 1, 2018, (the “Term”) unless earlier terminated as hereinafter provided. 

  
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 4. Compensation. 

(a) Base Salary. The Bank shall pay the Executive an initial annual base salary of Three Hundred Thousand Dollars ($300,000.00),
subject to all applicable withholdings, and subject to periodic review (at least annually) by the Board of Directors of the Bank, the Holding Company, or its Compensation Committee or designees, for consideration of increases (but not decreases). In
reviewing adjustments to base salary, the Board of Directors of the Bank, the Holding Company or its Compensation Committee or designees, shall consider relevant market data, as determined in its sole discretion, the performance of the Bank, and the
Executive’s performance. The base salary shall be paid to the Executive in accordance with established payroll practices of the Bank (but no less frequently than monthly). 

(b) Incentive Pay. In addition to the base salary herein provided for, Executive shall be entitled to receive incentive compensation
from Holding Company or Bank in accordance with plans adopted by their Boards of Directors, subject to recommendations and approvals from senior management and the Bank’s Compensation Committee, and such incentive compensation if not deferred
by Executive pursuant to any deferral election which may be available to Executive under any plan adopted by Holding Company or Bank (if any), shall be paid with respect to services rendered by Executive in any year no later than the fifteenth day
of the third month of the following year. Notwithstanding the foregoing, Bank and Executive agree that Executive has not received and is not entitled to receive any payment of incentive pay during the calendar year 2016, but shall be entitled to
receive incentive compensation from Holding Company or Bank in accordance with plans adopted by their Boards of Directors, subject to recommendations and approvals from senior management and the Bank’s Compensation Committee, beginning with
services provided in 2016, with payment of such incentive pay, if any, no later than the fifteenth day of the third month of the year next following. 

(c) Retention Bonus. As an incentive for retention of Executive hereunder, the Holding Company and Bank agree to pay to Executive as a
Retention Bonus, payable upon termination and separation from service of Executive as an employee, from Bank and its affiliates, the sum of Seven Hundred Thirty Nine Thousand Two Hundred Dollars ($739,200) payable in equal installments, over a
period of twenty-three months beginning thirteen months after such date of separation from service, (all subject to Section 18,) and payable in such frequency as Base Salary was being paid to Executive immediately prior to the date of such
termination and separation 

  
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from service, all provided that such Retention Bonus shall vest on June 3, 2017 and, if the Executive shall terminate his employment without Good Reason or his employment hereunder shall be
terminated for Cause, prior to June 3, 2017, then such Retention Bonus shall be forfeited in its entirety by Executive and no such Retention Bonus shall be due and payable to Executive under this Agreement. 

(d) Stock Compensation. The Executive shall be eligible to participate to the extent and in the manner provided and to receive stock
options, restricted stock, stock appreciation rights or other awards under any Long-Term Incentive Plan of the Holding Company, if any, in accordance with the terms of such plan, as the Board of Holding Company, or the Compensation Committee of
Holding Company may determine, and which terms may be modified in the discretion of the Board of Holding Company, or the Compensation Committee of Holding Company. Notwithstanding the foregoing, Bank and Executive agree the Executive was not
eligible to receive such stock options, restricted stock, stock appreciation rights or other awards in 2016, based upon services rendered in 2015, and shall only be eligible to receive stock options, restricted stock, stock appreciation rights or
other awards of any Long-Term Incentive Plan of the Company, if any, in accordance with the terms of such plan, as the Board of Holding Company, or the Compensation Committee of Holding Company may determine, and which terms may be modified in the
discretion of the Board of Holding Company, during calendar year 2016 at the earliest. 
 (e) Bank of Georgetown Stock Grants Prior to
Effective Time. In any event, with respect to any shares of stock of Bank of Georgetown awarded to Executive under an incentive plan or plans, if any, of Bank of Georgetown, and vested prior to the Effective Time, this Agreement shall have no
effect on (i) the ownership rights, if any, of Executive with respect thereto, and (ii) the rights, if any, of Executive to receive the Merger Consideration therefor, as defined in the Merger Agreement. 

5. Benefits. 
 (a)
Fringe Benefits. The Bank shall afford to Executive and his family the benefit of all fringe benefits afforded to other Holding Company or Bank officers, such as participation in the United Bankshares, Inc. Savings and Stock Investment Plan,
life insurance, health and accident insurance benefits, under the terms and conditions of such plans, and on a basis that is the same as the class of employees that includes the Executive. 

  
 4 

 (b) Automobile. The Bank shall provide the Executive with either use of a Bank owned
automobile or a reasonable monthly automobile allowance on terms comparable to similarly situated Bank executives, during the Term of this Agreement, subject to periodic review for adjustments in the discretion of the Bank. The reimbursement of an
eligible expense shall be made by Bank as soon as practicable after such expense is incurred and substantiated by Executive and otherwise in accordance with Section 18(d) of this Agreement. 

(c) Business Club Membership. Bank shall pay for, or reimburse Executive for payment of, membership of Executive in a business club,
in the geographic area of Bank during the Term. The reimbursement of an eligible expense shall be made by Bank as soon as practicable after such expense is incurred and substantiated by Executive and otherwise in accordance with Section 18(d)
of this Agreement. 
 (d) Business Expenses. Bank shall reimburse Executive for all reasonable expenses incurred by Executive in
carrying out his duties and responsibilities, all provided such expense is incurred by Executive during the Term or any renewal Term, if any, of this Agreement and prior to Separation from Service. The reimbursement of an eligible expense shall be
made by Bank as soon as practicable after such expense is incurred and substantiated by Executive and otherwise in accordance with Section 18(d) of this Agreement. 

(e) Five Weeks’ Vacation. During the Term, the Executive is entitled to up to five (5) weeks paid vacation in any calendar
year (prorated in any calendar year including but not limited to 2016 during which the Executive is employed for less than all of the year). The parties understand that the Executive will be a resident of the State of Florida and agree that he will
not be treated as on vacation when he is performing services for the Bank while in Florida. 
 6. Termination of Employment. 

(a) Death or Incapacity. The Executive’s employment under this Agreement shall terminate automatically upon the Executive’s
death or Incapacity. 

  
 5 

 (b) Voluntary Resignation without “Good Reason.” The Executive may voluntarily
terminate employment without “Good Reason” (as “Good Reason” is defined under Section 6(d) below,) under this Agreement on written notice at any time. 

(c) Termination by Bank With or Without Cause. The Bank may terminate the Executive’s employment on written notice during the
Term. Termination for “Cause” shall include termination for: (i) material breach of this Agreement by Executive; (ii) intentional nonperformance or misperformance of such duties, or refusal to abide by or comply with the
reasonable directives of his superior officers, or the Bank’s policies and procedures; (iii) Executive’s abuse of alcohol or drugs (legal or illegal) that substantially impairs Executive’s ability to perform his duties under this
Agreement; (iv) Executive’s gross negligence in the performance of his material duties under this Agreement; (v) Executive’s willful dishonesty, fraud or willful misconduct with respect to the business or affairs of the Bank,
that materially and adversely affects the Bank; (vi) the Executive’s conviction of a felony, fraud, or crime involving moral turpitude; or (vii) the commission of any act in direct or indirect competition with or materially
detrimental to the best interests of Bank that is in breach of Executive’s fiduciary duties of care, loyalty and good faith to Bank. 

Cause will not, however, include any actions or circumstances constituting Cause under (i), (ii), (iii) or (iv) above if Executive
cures such actions or circumstances within 30 days of receipt of written notice from Bank setting forth the actions or circumstances constituting Cause. In the event Executive’s employment under this Agreement is terminated for Cause, Executive
shall thereafter have no right to receive compensation or other benefits under this Agreement. 
 (d) Termination by Executive for Good
Reason. The Executive may terminate employment for “Good Reason,” which for purposes of this Agreement shall mean: 
 (i) the
assignment to the Executive of continued duties materially inconsistent with the Executive’s Position, authority, duties or responsibilities as set forth in the Agreement; or 

  
 6 

 (ii) the relocation of the Executive to any other primary place of employment that is located
more than fifty (50) miles from the Executive’s assigned place of employment as of the Effective Time, without the Executive’s express written consent to such relocation; or 

(iii) without the Executive’s consent, a material reduction of the Executive’s then-current annual base salary or Executive’s
health, welfare and retirement benefits hereunder; provided, however, this subsection (iii) shall be inapplicable in the event substantially similar reductions are being made with respect to all executive officers of the Bank; or 

(iv) a material breach of this Agreement by the Bank. 

As a condition to the Executive’s assertion of Good Reason as a basis for terminating employment, the Executive must first have provided
written notice to the Bank within ninety (90) days after the initial occurrence of any of the foregoing events, and the Bank must have failed to remedy the condition. 

Notwithstanding the foregoing, the Executive’s purported termination of employment for Good Reason shall not be effective if Cause for
termination of the Executive’s employment by the Bank then exists. 
 In addition, the parties acknowledge and agree that
Executive’s waiver of the right to assert “Good Reason” termination, as set forth in that certain Waiver dated December 24, 2015 by and between Bank of Georgetown, predecessor by merger to Bank, Holding Company and Executive (the
“Waiver”), based on any difference between this Agreement and the Former Employment Agreement shall survive the execution of this Agreement, shall survive any termination of this Agreement and shall remain in effect at all times. 

7. Obligations Upon Termination. 

(a) Voluntary Resignation by Executive without “Good Reason,” Death, Incapacity or Termination by Bank Without Cause or by
Executive for Good Reason. 

  
 7 

 (i) Death or Incapacity. In the event of the separation from service and termination of
employment of Executive by death or Incapacity, Bank shall have no further obligation hereunder other than the payment to the Executive or his estate, as the case may be, of (1) any unpaid Base Salary for the time worked through the date of
termination payable in a lump sum as soon as administratively feasible following termination, (2) the Retention Bonus as set forth under Section 4(c) of this Agreement, regardless of whether such termination takes place before, on, or
after June 3, 2017, and (3) any benefits due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due. 

(ii) Termination by Bank Without Cause or by Executive for Good Reason. In the event of separation from service and termination of
Executive due to (a) resignation by Executive for Good Reason, or (b) termination of Executive’s employment by Bank or Holding Company without Cause, then Bank shall continue to be obligated to pay Executive (in addition to the
Retention Bonus as set forth in Section 4(c) regardless of whether such termination occurs before, on, or after June 3, 2017): 

(1) his Base Salary for the remainder of the Term, at the same time and in the same installments as Executive would have received if
Executive had not Separated from Service, and 
 (2) also, for the remainder of the Term, an amount payable semi-monthly equal to the full
semi-monthly cost (including COBRA administrative fees, if applicable) for continued health care (medical, dental and vision) coverage (“Continued Health Coverage”) under the current or any successor health plan provided by Holding Company
or Bank to its employees (the “United Health Plan”) (with the Executive eligible to elect any health plan option for the Executive and the Executive’s spouse and dependents that is then available under the United Health Plan,) all
subject to Section 18, and all provided that Executive signs the Release attached as Exhibit A, in a timely fashion so that such Release is signed and not be revoked (“becomes effective”) within sixty (60) days after
termination of employment, and in the event that Executive does not sign said Release and it does not become effective (is not revoked) within said time period, said payments of Base Salary and such payments for Continued Health Care shall cease on
the date that is sixty (60) days after said termination and Bank and Holding Company shall have no further obligation hereunder. 

  
 8 

 (iii) Termination by Bank for Cause or by Executive by Voluntary Resignation without Good
Reason. If the Executive’s employment is terminated by Bank for Cause, or by Executive by Voluntary Resignation without “Good Reason,” this Agreement shall terminate without any further obligation of the Bank to the Executive
other than the payment to the Executive of (1) any unpaid Base Salary for the time worked through the date of termination payable in a lump sum as soon as administratively feasible following termination, (2) the Retention Bonus as set
forth under Section 4(c) of this Agreement, if such termination takes place on or after June 3, 2017 and such Retention Bonus is thereby vested, and (3) any benefits due and owing pursuant to the terms of any plans, policies or
programs, payable when otherwise due. 
 (b) Non-Competition for Separation from Service for Any Reason. Notwithstanding the
foregoing, all such payments and benefits under Section 7(a), and Section 4(c), if any, otherwise continuing for periods after the Executive’s separation from service (other than for ‘Cause’) shall cease to be paid, and the
Bank shall have no further obligation due with respect thereto, in the event the Executive engages in “Competition” or makes any “Unauthorized Disclosure of Confidential Information,” as defined below, or otherwise engages in any
other activity prohibited in this Section 7. If Executive separates from service for any reason or no reason before June 1, 2018, the Executive agrees that the Executive will not engage in Competition for a period equal to twelve
(12) months after the Executive’s employment with the Bank ceases. For purposes hereof, “Competition” means the Executive’s performing duties that are the same as or substantially similar to those duties performed by
Executive for the Bank within the twenty-four (24) months prior to the cessation of his employment, as an officer, a director, an employee, a partner or in any other capacity, within twenty-five (25) miles of the headquarters or any branch
office of the Bank as they exist as of the date Executive’s employment ceases, if those duties are performed for a business that is the same as or substantially similar to the business in which the Bank was engaged at the time Executive’s
employment ceases. 

  
 9 

 (c) Non-Piracy. In exchange for the benefits promised in this Agreement and other
valuable consideration, the Executive agrees that for a period equal to twelve (12) months after his employment ceases for any reason, he will not, directly or indirectly, solicit, divert from the Bank or do business with any depositors or
other customers of the Bank with whom he had material contact during the last twenty-four (24) months of his employment or about whom he obtained any information while acting within the scope of his employment during the last twenty-four
(24) months of employment, if the purpose of such solicitation, diversion or transaction is to provide products or services that are the same as or substantially similar to those offered by the Bank at the time Executive’s employment
ceases. “Material contact” means that Executive personally communicated with the Customer, either orally or in writing, for the purpose of providing, offering to provide or assisting in providing products or services of the Bank.
“Customer” means any person or entity with whom the Bank had a depository or other contractual relationship, pursuant to which the Bank provided products or services within twenty-four (24) months of the cessation of Executive’s
employment. 
 (d) Non-Solicitation for Hire. If Executive separates from service for any reason or no reason before June 1,
2018, in exchange for the benefits promised in this Agreement and other valuable consideration, the Executive agrees that for a period of twelve (12) months after his employment ceases, for any reason, he will not, directly or indirectly, hire
or solicit for hire or induce any person to cease their employment with the Bank, if the purpose is to compete with the Bank. 
 (e)
Limitation. Nothing in Section 7(b) or (c) shall prohibit Executive from working in any role or engaging in any job or activity that can reasonably be construed to be non-competitive with the Bank. 

(f) Unauthorized Disclosure. For purposes of this Section 7, “Unauthorized Disclosure of Confidential Information”
means the use or disclosure of information in violation of Section 8 of this Agreement. 
 (g) Remedies. The Executive
acknowledges that the covenants set forth in Section 7 of this Agreement are just, reasonable, and necessary to protect the legitimate business interests of the Bank. The Executive further acknowledges that if the Executive

  
 10 

 
breaches or threatens to breach any provision of Section 7, the Bank’s remedies at law will be inadequate, and the Bank will be irreparably harmed. Accordingly, the Bank shall be
entitled to an injunction, both preliminary and permanent, restraining the Executive from such breach or threatened breach, such injunctive relief not to preclude the Bank from pursuing all available legal and equitable remedies. In addition to all
other available remedies, if the Executive violates any of the provisions of Section 7, the Executive shall pay all reasonable costs and reasonable attorney’s fees incurred by the Bank in enforcing the provisions of that Section. 

(h) Breach Does Not Excuse Performance. Executive agrees that a breach by the Bank of any provision of this Agreement shall not excuse
his obligation to adhere to the covenants in Section 7 and shall not constitute a defense to the enforcement thereof by the Bank. 
 8.
Confidentiality. As an employee of the Bank, the Executive will have access to and may participate in the origination of non-public, proprietary and confidential information relating to the Bank and/or its subsidiaries, and the Executive
acknowledges a fiduciary duty owed to the Bank and its subsidiaries not to disclose impermissibly any such information. Confidential information may include, but is not limited to, trade secrets, customer lists and information, internal corporate
planning, methods of marketing and operation, and other data or information of or concerning the Bank or its customers that is not generally known to the public or generally in the banking industry. The Executive agrees that for a period of five
(5) years following the cessation of his employment, he will not use or disclose to any third party any such confidential information, either directly or indirectly, except as may be authorized in writing specifically by the Bank; provided,
however that to the extent the information covered by this Section 8 is otherwise protected by the law, such as “trade secrets,” as defined by the Virginia Uniform Trade Secrets Act, or customer information protected by banking
privacy laws, that information shall not be disclosed or used for however long the legal protections applicable to such information remain in effect. 

Notwithstanding the foregoing, nothing in this Agreement is intended to prohibit the Executive from performing any duty or obligation that
shall arise as a matter of law. Specifically, the Executive shall continue to be under a duty to truthfully respond to any legal 

  
 11 

 
and valid subpoena or other legal process. This Agreement is not intended in any way to proscribe the Executive’s right and ability to provide information to any federal, state or local
agency in response or adherence to the lawful exercise of such agency’s authority. In the event the Executive is requested to disclose confidential information by subpoena or other legal process or lawful exercise of authority, the Executive
shall promptly provide the Bank with notice of the same and either receive approval from the Bank to make the disclosure or cooperate with the Bank in the Bank’s effort, at its sole expense, to avoid disclosure. 

9. Survival of Provisions. The obligations and covenants of Sections 4(c), 7 and 8 shall survive termination, expiration or nonrenewal
of this Agreement. 
 10. Documents. All documents, records, tapes and other media of any kind or description relating to the
business of the Bank or any of its subsidiaries (the “Documents”), whether or not prepared by the Executive, shall be the sole and exclusive property of the Bank. The Documents (and any copies) shall be returned to the Bank upon the
Executive’s termination of employment for any reason or at such earlier time or times as the Board of Directors of the Bank, or its designee, may specify. 

11. Severability. If any provision of this Agreement, or part thereof, is determined to be unenforceable for any reason whatsoever, it
shall be severable from the remainder of this Agreement and shall not invalidate or affect the other provisions of this Agreement, which shall remain in full force and effect and shall be enforceable according to their terms. No covenant shall be
dependent upon any other covenant or provision herein, each of which stands independently. 
 12. Modification. The parties expressly
agree that should a court find any provision of this Agreement, or part thereof, to be unenforceable or unreasonable, the court may modify the provision, or part thereof, in a manner which renders that provision reasonable, enforceable, and in
conformity with the public policy of Virginia. 
 13. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the Commonwealth of Virginia. 

  
 12 

 14. Notices. All written notices required by this Agreement shall be deemed given when
delivered personally or sent by registered or certified mail, return receipt requested, to the parties at their addresses set forth on the signature page of this Agreement. Each party may, from time to time, designate a different address to which
notices should be sent. 
 15. Amendment. This Agreement may not be varied, altered, modified or in any way amended except by an
instrument in writing executed by the parties hereto or their legal representatives. 
 16. Binding Effect. This Agreement shall be
binding upon the Executive and on the Bank, its successors and assigns effective on the date first above written subject to the approval by the Board of Directors of the Bank. The Bank will require any successor to all or substantially all of the
business and/or assets of the Bank to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Bank would be required to perform it if no such succession had taken place. 

17. No Construction Against Any Party. This Agreement is the product of informed negotiations between the Executive and the Bank. If
any part of this Agreement is deemed to be unclear or ambiguous, it shall be construed as if it were drafted jointly by all parties. The Executive and the Bank agree that neither party was in a superior bargaining position regarding the substantive
terms of this Agreement. 
 18. Code Section 409A Compliance. 

(a) The intent of the parties is that payments and benefits under this Agreement comply with Section 409A of the Internal Revenue Code
of 1986, as amended, and applicable guidance thereunder (“Code Section 409A”) or comply with an exemption from the application of Code Section 409A and, accordingly, all provisions of this Agreement shall be construed in a manner
consistent with the requirements for avoiding taxes or penalties under Code Section 409A. 
 (b) Neither the Executive nor the Bank
shall take any action to accelerate or delay the payment of any monies and/or provision of any benefits in any matter which would not be in compliance with Code Section 409A. 

  
 13 

 (c) A termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the form or timing of payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” (within the meaning of Code
Section 409A) and, for purposes of any such provision of this Agreement under which (and to the extent) deferred compensation subject to Code Section 409A is paid, references to a “termination” or “termination of
employment” or like references shall mean separation from service. If the Executive is deemed on the date of separation from service with the Bank to be a “specified employee,” within the meaning of that term under Code
Section 409A(a)(2)(B) and using the identification methodology selected by the Bank from time to time, or if none, the default methodology, then with regard to any payment or benefit that is required to be delayed in compliance with Code
Section 409A(a)(2)(B), such payment or benefit shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of the Executive’s separation from service or (ii) the date of
the Executive’s death. In the case of benefits required to be delayed under Code Section 409A, however, the Executive may pay the cost of benefit coverage, and thereby obtain benefits, during such six-month delay period and then be
reimbursed by the Bank thereafter when delayed payments are made pursuant to the next sentence. On the first day of the seventh month following the date of the Executive’s separation from service or, if earlier, on the date of the
Executive’s death, all payments delayed pursuant to this Section 18(c) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Executive in a lump
sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. If any cash payment is delayed under this Section 18(c), then interest shall
be paid on the amount delayed, with such interest to be calculated at the prime rate reported in The Wall Street Journal for the date of the Executive’s termination to the date of payment. 

(d) With regard to any provision herein that provides for reimbursement of expenses or in-kind benefits subject to Code Section 409A,
except as permitted by Code Section 409A, (i) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit, and (ii) the amount of expenses eligible for reimbursement, or in-kind
benefits, provided during any taxable year shall not affect the 

  
 14 

 
expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing clause (ii) shall not be violated with regard to expenses
reimbursed under any arrangement covered by Code Section 105(b) solely because such expenses are subject to a limit related to the period the arrangement is in effect. All reimbursements shall be reimbursed in accordance with the Bank’s
reimbursement policies but in no event later than the calendar year following the calendar year in which the related expense is incurred. 

(e) If under this Agreement, an amount is to be paid in two or more installments, for purposes of Code Section 409A, each installment
shall be treated as a separate payment. In the event any payment payable upon termination of employment would be exempt from Code Section 409A under Treas. Reg. § 1.409A-1(b)(9)(iii) but for the amount of such payment, the determination of
the payments to the Executive that are exempt under such provision shall be made by applying the exemption to payments based on chronological order beginning with the payments paid closest in time on or after such termination of employment. 

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

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

19. Regulatory Limitation. (a) Notwithstanding any other provision of this Agreement, neither the Bank nor any subsidiary shall be
obligated to make, and the Executive shall have no right to receive, any payment, benefit or amount under this Agreement that would violate any law, regulation or regulatory order applicable to the Bank or the subsidiary at the time such payment is
due, including without limitation, any regulation or order of the Federal Deposit Insurance Corporation or the Board of Governors of the Federal Reserve System. In the event any payment, benefit or amount under this Agreement may be payable with
regulatory approval, the Bank agrees to take all reasonable steps to obtain such regulatory approval. 

  
 15 

 (b) No Excess Parachute Payment. It is the intention of the parties that no payment be
made or benefit provided to Executive pursuant to this Agreement or otherwise that would constitute an “excess parachute payment” within the meaning of Section 280G of the Internal Revenue Code and any regulations thereunder
(“Code Section 280G”), thereby resulting in a loss of an income tax deduction by the Bank or the imposition of an excise tax on Executive under Section 4999 of the Internal Revenue Code. If a final determination from the Internal
Revenue Service or a court of competent jurisdiction determines that some or all of the payments or benefits scheduled under this Agreement, as well as any other payments or benefits received by the Executive in connection with the change in
control, would be nondeductible by the Bank under Code Section 280G, then the Executive’s payments shall be reduced to the greatest amount that would not be subject to the excise tax if, after taking into account applicable federal, state,
local and foreign income and employment taxes, the excise tax, and any other applicable taxes, the Executive would retain a greater amount on an after-tax basis following such reduction. Any reduction of benefits or payments required to be made
under this Section 19(b) shall be taken in the following order: first from cash compensation, on a pro rata basis, and then from stock compensation, on a pro rata basis. 

20. Entire Agreement. Except as otherwise provided herein, this Agreement and the Waiver constitute the entire agreement of the parties
with respect to the matters addressed herein and it supersedes all other prior agreements and understandings, both written and oral, express or implied, with respect to the subject matter of this Agreement. It is further specifically agreed and
acknowledged that, except as provided herein, the Executive shall not be entitled to severance payments or benefits under any severance or similar plan, program, arrangement or agreement of or the Bank for any cessation of employment occurring
during the Term of this Agreement. 
 21. Survivability. The provisions of Section 4(c), the Waiver by Executive referenced in
the last paragraph of Section 6, the provisions of Section 7 and the provisions of Section 8 shall survive the termination, expiration or non-renewal of this Agreement. 

  
 16 

 22. Title. The titles and sub-headings of each Section and Sub-Section in the Agreement
are for convenience only and should not be considered part of the Agreement to aid in interpretation or construction. 
 23. Payment of
Legal Fees. All reasonable legal fees paid or incurred by the Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid by the Bank, provided that the dispute or interpretation has been resolved in
the Executive’s favor pursuant to arbitration or other permitted legal proceeding. 

  
 17 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written
herein. 
  

			
	UNITED BANK
		
	By:	 	/s/ James J. Consagra, Jr.
	Name:	 	James J. Consagra, Jr.
	Title:	 	Chief Executive Officer
	
	 2071 Chain Bridge Road

	 Suite 600

	 Vienna, Virginia 22182

  

			
	UNITED BANKSHARES, INC.
		
	By:	 	/s/ Richard M. Adams, Jr.
	Name:	 	Richard M. Adams, Jr.
	Title:	 	President
	
	514 Market Street
	Parkersburg, West Virginia 26101

  

			
	EXECUTIVE:
	
	 /s/ Michael P. Fitzgerald

	Michael P. Fitzgerald
		
	Address:	 	  

		 	  

  
 18 

 EXHIBIT A 

GENERAL RELEASE AGREEMENT 

For good and valuable consideration, the receipt of which is hereby acknowledged, Michael P. Fitzgerald (“Executive”), hereby
irrevocably and unconditionally releases, acquits, and forever discharges United Bank (“the Bank”) and United Bankshares, Inc. (“the Holding Company”) and each of their current and former agents, directors, members, affiliated
entities, officers, executives, employees, attorneys, and all persons acting by, through, under or in concert with any of them (collectively “Releasees”) from any and all charges, complaints, claims, liabilities, grievances, obligations,
promises, agreements, controversies, damages, policies, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses of any nature whatsoever, known or unknown, suspected or unsuspected, including, but not limited to, any
rights arising out of alleged violations or breaches of any contracts, express or implied, or any tort, or any legal restrictions on their right to terminate Executive’s employment, or any federal, state or other governmental statute,
regulation, law or ordinance, including without limitation (1) Title VII of the Civil Rights Act of 1964, as amended by the Civil Rights Act of 1991; (2) the Americans with Disabilities Act; (3) 42 U.S.C. § 1981; (4) the
federal Age Discrimination in Employment Act (age discrimination); (5) the Older Workers Benefit Protection Act; (6) the Equal Pay Act; (7) the Family and Medical Leave Act; and (8) the Executive Retirement Income Security Act
(“ERISA”) (“Claim” or “Claims”), which Executive now has, owns or holds, or claims to have, own or hold, or which Executive at any time heretofore had owned or held, or claimed to have owned or held, against each or any
of the Releasees at any time up to and including the date of the execution of this General Release Agreement (“Release”). 

Executive hereby acknowledges and agrees that the execution of this Release and the cessation of Executive’s employment and all actions
taken in connection therewith are in compliance with the Federal Age Discrimination in Employment Act and the Older Workers Benefit Protection Act and that the releases set forth above shall be applicable, without limitation, to any claims brought
under these Acts. Executive further acknowledges and agrees that: 

 (a) This Release given by Executive is given solely in exchange for the consideration set forth
in the Employment Agreement between the Bank and Executive to which this Release was initially attached and such consideration is in addition to anything of value which Executive was entitled to receive prior to entering into this Release; 

(b) By entering into this Release, Executive does not waive rights or claims that may arise after the date this Release is executed; 

(c) Executive has been advised to consult an attorney prior to entering into this Release, and this provision of this Release satisfies the
requirements of the Older Workers Benefit Protection Act that Executive be so advised in writing; 
 (d) Executive has been offered
[twenty-one (21)][forty-five (45)] days from receipt of this Release within which to consider whether to sign this Release; and 
 (e) For
a period of seven (7) days following Executive’s execution of this Release, Executive may revoke this Release by delivering or mailing the revocation to the Chief Executive Officer of the Bank and this Release shall not become effective or
enforceable until such seven (7) day period has expired. 
 This Release shall be binding upon the heirs and personal representatives
of Executive and shall inure to the benefit of the successors and assigns of the Bank and the Holding Company. 
  

					
	 June 3, 2016
	 		  	 /s/ Michael P. Fitzgerald

	Date	 		  	Michael P. Fitzgerald

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