Document:

aub_Exhibit 10.7.2

		
			Exhibit 10.7.2
		

		
			 
		

		
			NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR DIRECTORS
		

		
			(As Restated Effective January 1, 2018)
		

		
			ADOPTION AGREEMENT
		

		
			 
		

		
			(Updated Form January 1, 2020)
		

		
			 
		

		
			This Adoption Agreement is the companion document that allows a corporation to sponsor and adopt the Virginia Bankers Association Model Non-Qualified Deferred Compensation Plan for Directors (the “Plan”).  Each Corporation named below hereby adopts the Plan through this Adoption Agreement (the “Adoption Agreement”), to be effective as of the date(s) specified below, and elects the following specifications and provides the following information relating thereto.
		

		
			 
		

		
			In completing this Adoption Agreement, if additional space is required, insert additional sheets.
		

		
			 
		

		
			Adoption Agreement Contents
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						Page

				
	
					
						Option 1

					
					
						    

					
					
						Corporation(s) Adopting Plan

					
					
						    

					
1
				
	
					
						Option 2

					
					
						 

					
					
						General Plan Information

					
					
						 

					
1
				
	
					
						Option 3

					
					
						 

					
					
						Status of Plan and Effective Date(s)

					
					
						 

					
2
				
	
					
						Option 4

					
					
						 

					
					
						Definitions and Other Optional Provisions

					
					
						 

					
3
				
	
					
						Option 5

					
					
						 

					
					
						Time and Form of Payments

					
					
						 

					
5
				
	
					
						Option 6

					
					
						 

					
					
						Hardship Withdrawals

					
					
						 

					
7
				
	
					
						Option 7

					
					
						 

					
					
						Participant Deemed Investment Direction

					
					
						 

					
7
				

		
			 
		

			
					
						 

					
						 

					
					
						 

					
						 

					
						 

				
	
					
						 

					
						1.

					
						 

					
					
						CORPORATION(S) ADOPTING PLAN.

				
	
					
						 

					
					
						(a)

					
					
						Name of Plan Sponsor:

					
					
						(b)    Plan Sponsor’s Telephone

				
	
					
						 

					
					
						Atlantic Union Bankshares Corporation

					
					
						Number: (804) 633-5031

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						(c)

					
					
						Address of Plan Sponsor:

					
					
						(d)    Plan Sponsor’s EIN:

				
	
					
						 

					
					
						1051 E Cary Street, Suite 1200

					
					
						80-0463989

				
	
					
						 

					
					
						Richmond, VA  23219

					
					
						 

				
	
					
						 

					
					
						(e)    Plan Sponsor’s Tax Year  End: 12/31

				
	
					
						 

					
					
						(f)

					
					
						Other Participating Corporations Adopting the Plan:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[√]

					
					
						(1)

					
					
						All Affiliates are automatically participating Corporations in the Plan, except for the following:

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						_____________________________________________________________________________________.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[  ]

					
					
						(2)

					
					
						Each participating Corporation is listed individually on the attachment captioned “List of Participating Corporations,” which shall be updated as needed from time to time in compliance with ARTICLE XIII of the basic plan document.

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
						2.

					
						 

					
					
						GENERAL PLAN INFORMATION.

				
	
					
						 

					
					
						(a)

					
					
						Name of Plan:

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Atlantic Union Bankshares Corporation Director’s Deferred Compensation Plan

				
	
					
						 

					
					
						(b)

					
					
						Name, Address and EIN of Plan Administrator(s):  [If other than Plan Sponsor, appointment must be by resolution]

				

		
			
		

		

		 

	
					
						

					
						 

					
						3.

					
						 

					
					
						STATUS OF PLAN AND EFFECTIVE DATE(S).

				
	
					
						 

					
					
						(a)

					
					
						Effective Date of Plan:  The Effective Date of the Plan is  April 23,  1998.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						(b)

					
					
						Plan Status.  The adoption of the Plan through this Adoption Agreement is:

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[  ]

					
					
						(1)

					
					
						Initial Establishment.  The initial adoption and establishment of the Plan.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[√]

					
					
						(2)

					
					
						Restated Plan.  An amendment and restatement of the Plan (a Restated Plan).

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						(A)

					
					
						Effective Date of this Restatement.  The Effective Date of this Restatement is  January 1,  2020.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						(B)

					
					
						Prior Plan.  The Plan was last maintained under document dated January 1,  2018 , and was known as the Union Bankshares Corporation Director’s Deferred Compensation Plan 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						_______________________________________________________________________________.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						(C)

					
					
						409A Transitional Provisions (grandfathering election):

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						[  ]

					
					
						Election NOT to Grandfather Pre-January 1, 2005 Vested Balances.  If this Option is elected, all Deferral Accounts shall be subject to the rules set forth in the post-December 31, 2004 restatements.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						If the Option is not elected, the Deferral Accounts attributable to transfers from predecessor plans prior to December 31, 2004 and contributions that are vested as of December 31, 2004 shall be segregated from the Deferral Accounts attributable to contributions that are not vested as of December 31, 2004 and to contributions and transfers made on and after January 1, 2005.  The terms of the Plan in effect on and after January 1, 2005 shall only apply to transfers and contributions that are not vested as of December 31, 2004 and to contributions and transfers made on and after January 1, 2005.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[  ]

					
					
						(3)

					
					
						Special or Other Transitional Provisions.  [Use attachment if additional space is needed]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						[Enter any special provisions including alternate definitions or other transitional provisions relating to any Predecessor Plan Account and the Plan as restated] 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			
		

		

		 

		

			2

		

	
					
						

					
						 

					
						4.            DEFINITIONS AND OTHER OPTIONAL PROVISIONS.

					
						 

				
	
					
						(a)          Compensation

					
						Paragraph 1.10

					
					
						Compensation is used throughout the basic plan document for different purposes.  The following specific rules apply.

					
						 

				
	
					
						 

					
					
						(1)

					
					
						General Definition.  The Compensation definition in paragraph 1.10 of the basic plan document is modified as follows:

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						(A)         Retainer.  Retainer is more specifically defined to mean:

					
						Retainers paid to board members

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						(B)         Fees. Fees is more specifically defined to mean:

					
						Fees paid to board members

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						(2)

					
					
						Specific Definitions. When used with respect to Deferral Contributions under the Plan, Compensation shall include: [Check one] 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[   ]        (A)

					
					
						Retainer. 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[   ]        (B)

					
					
						Fees.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[√]         (C)

					
					
						Retainers and Fees.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						(b)          Eligible Director

					
						Paragraph 1.19

					
					
						Eligible Director shall mean only the following:

				
	
					
						 

					
					
						[√]        (1)

					
					
						All Directors.  Any individual serving as a Director of the Corporation.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[  ]        (2)

					
					
						All Non-Employee Directors.  Any individual serving as a Director of the Corporation, except Directors who are also common law employees of the Corporation.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[  ]        (3)

					
					
						Determination by Board.  Any individual who is designated as an Eligible Director by resolution of the [  ] Plan Sponsor’s    [  ] Corporation’s Board.  A copy of the resolution shall be attached to and incorporated by reference into the Plan.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						(c)          Plan Year

					
						Paragraph 1.24

					
					
						In the case of a Restated Plan, which prior to the Effective Date of this Restatement was maintained on the basis of a Plan Year beginning on a date other than January 1, the Plan Year shall begin on              , ____ and end on __________, ______, with the short Plan Year beginning on                                                        ,  ________ and ending on December 31, ________.  Thereafter, the Plan Year shall be the 12-month period beginning each January 1.

				

		
			
		

		

		 

		

			3

		

	
					
						

					
						(d)          Effective Date of Coverage

					
						Paragraph 2.1

					
					
						The effective date of coverage for an Eligible Director shall be [Check one]

				
	
					
						 

					
					
						[  ]        (1)

					
					
						Immediate.  The first day of the first payroll period beginning on or after the date the individual became an Eligible Director.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[  ]        (2)

					
					
						Monthly.  The first day of the first payroll period beginning on or after the first day of _________  [Complete with 1st, 2nd, or other] month next following the date the individual became an Eligible Director.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[  ]        (3)

					
					
						Semi-Annually.  The first day of the Plan Year or the first day of the seventh month of the Plan Year on or next following the date the individual became an Eligible Director.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[√]        (4)

					
					
						Annually.  The first day of the Plan Year on or next following the date the individual became an Eligible Director.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						[√]         (e)          Cancellation of Deferred Compensation Election For Disability Paragraph 3.5

					
					
						If this Option is elected, the Plan Sponsor:

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[   ]        (1)

					
					
						Mandatory Cancellation.  Will cancel the Deferred Compensation Election of an Eligible Director who experiences a Disability as defined in subparagraph 3.5(b).

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[√]        (2)

					
					
						Optional Cancellation.  May permit an Eligible Director who experiences a Disability as defined in subparagraph 3.5(b) to cancel his Deferred Compensation Election.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						If this Option is not selected, no cancellation will be required or permitted upon the occurrence of a Disability.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						[√]         (f)          Rules Relating to Final Check of Year

					
					
						If this Option is elected, Compensation payable after the last day of the calendar year solely for services performed during the final payroll period which contains the last day of the year will be treated as Compensation for services performed in the taxable year in which the payroll period began.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						If this Option is not elected, Compensation payable after the last day of the calendar year solely for services performed during the final payroll period which contains the last day of the year will be treated as Compensation for services performed in the subsequent taxable year in which the payment is made.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Any change in election relating to the final check of the Participant’s taxable year may not be effective for 12 months from the date the amendment is adopted and executed.

				

		
			 
		

		
			
		

		

		 

		

			4

		

	
					
						

					
						 

					
						5.            TIME AND FORM OF PAYMENTS.

					
						 

				
	
					
						(a)          Benefit Commencement Date Paragraph 7.1

					
					
						Benefit Commencement Date shall mean the first day of the calendar quarter coinciding with or next following the designated time or event as follows: 

					
						[Check one, and complete where applicable]

					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[   ]

					
					
						(1)

					
					
						Selected By Plan Sponsor.  The Plan Sponsor hereby selects payment commencement on the Participant’s Separation from Service as a Director of the Corporation for whatever reason.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						If elected here [  ], the Plan Sponsor elects for payment to be accelerated upon a Change in Control, but only with respect to contributions made after this Adoption Agreement is executed, unless the Plan Sponsor previously made such an election under Option 3(b)(3).

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[√]

					
					
						(2)

					
					
						Selected By Participant.  The date selected by the Participant in accordance with the following: [Select options to be available to Participant]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[√]

					
					
						(A)         The Participant’s Separation from Service as a Director (for reasons other than death).

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[√]

					
					
						(B)         A date certain stated clearly in the Participant’s Deferred Compensation Election form which shall be without regard to when service as a Director ends.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[√]

					
					
						(D)         The earlier of a date certain or Separation from Service as a Director (for reasons other than death).

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[√]

					
					
						(E)          Change in Control.  The Participant may elect to have payment accelerated upon a Change in Control.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						(b)          Form of Payment to Participant Paragraph 7.2

					
					
						The form of payment to the Participant will be determined as follows:

					
						[Check one, and complete where applicable]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[  ]

					
					
						(1)

					
					
						Selected By Plan Sponsor.  The Plan Sponsor selects the following form of payment: [Select One]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[  ]

					
					
						(A)         Lump Sum.  Deferral Benefits will be paid to the Participant in a single, lump-sum payment.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[  ]

					
					
						(B)         Periodic Installments.  Deferral Benefits will be paid to the Participant in annual periodic installment payments made over the following period: [Select One]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[   ]

					
					
						(i)

					
					
						Five (5) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			
		

		

		 

		

			5

		

	
					
						

					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[   ]

					
					
						(ii)

					
					
						Ten (10) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[   ]

					
					
						(iii)

					
					
						Fifteen (15) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[   ]

					
					
						(iv)

					
					
						Twenty (20) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[√]

					
					
						(2)

					
					
						Selected By Participant.  The Participant may elect from among the following forms of payment [Select options to be available to Participants]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[√]

					
					
						(A)

					
					
						Lump Sum.  Deferral Benefits may be paid to the Participant in a single, lump-sum payment.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[√]

					
					
						(B)

					
					
						Periodic Installments.  Deferral Benefits may be paid to the Participant in annual periodic installment payments made over the following period:

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[√]

					
					
						(i)

					
					
						Five (5) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[√]

					
					
						(ii)

					
					
						Ten (10) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[√]

					
					
						(iii)

					
					
						Fifteen (15) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[√]

					
					
						(iv)

					
					
						Twenty (20) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						(c)          Form of Payment to Beneficiary

					
						Paragraph 7.2

					
					
						The form of payment to the Beneficiary will be determined as follows:

					
						[Check one, and complete where applicable]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[  ]

					
					
						(1)

					
					
						Selected By Plan Sponsor.  The Plan Sponsor selects the following form of payment to the Beneficiary:  [Select One]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[  ]

					
					
						(A)        Lump Sum.  Deferral Benefits will be paid to the Beneficiary in a single, lump-sum payment.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[  ]

					
					
						(B)         Periodic Installments.  Deferral Benefits will be paid to the Beneficiary in annual periodic installment payments made over the following period: [Select One]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[  ]

					
					
						(i)

					
					
						Five (5) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[  ]

					
					
						(ii)

					
					
						Ten (10) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[  ]

					
					
						(iii)

					
					
						Fifteen (15) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[  ]

					
					
						(iv)

					
					
						Twenty (20) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[√]

					
					
						(2)

					
					
						Selected By Participant.  The Participant may elect the form of payment to the Beneficiary from among the following forms of payment [Select options to be available to Participants]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						[√]

					
					
						(A)

					
					
						Lump Sum.  Deferral Benefits may be paid to the Beneficiary in a single, lump-sum payment.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			
		

		
			

		 

		

			6

		

		

		
			 
		

			
					
						 

					
					
						 

					
					
						[√]

					
					
						(B)

					
					
						Periodic Installments.  Deferral Benefits may be paid to the Beneficiary in annual periodic installment payments made over the following periods:

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[√]

					
					
						(i)

					
					
						Five (5) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[√]

					
					
						(ii)

					
					
						Ten (10) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[√]

					
					
						(iii)

					
					
						Fifteen (15) years.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[√]

					
					
						(iv)

					
					
						Twenty (20) years.

				

		
			 
		

			
					
						 

					
						6.            HARDSHIP WITHDRAWALS.

					
						 

					
					
						 

				
	
					
						(a)          Availability Generally

					
						Paragraph 8.1

					
					
						A Participant [Check one]

				
	
					
						 

					
					
						[  ]

					
					
						(1)

					
					
						Not Permitted.  May not make Hardship Withdrawals.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[√]

					
					
						(2)

					
					
						Permitted.  May make a Hardship Withdrawal for an Unforeseeable Emergency.

				

		
			 
		

			
					
						 

					
						7.          PARTICIPANT DEEMED INVESTMENT DIRECTION.

					
						 

				
	
					
						(a)          Availability Generally

					
						Paragraph 4.2

					
					
						A Participant [Check one]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[  ]

					
					
						(1)

					
					
						Not Permitted.  May not make deemed investment directions.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[√]

					
					
						(2)

					
					
						Permitted.  May make deemed investment directions for his Deferral Account.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						(b)          Permissible Investments

					
					
						Unless the Plan Sponsor elects a different option below, a Participant’s Deferral Account may be invested in the investment funds which are designed to mirror the investment options available under the VBA Plan as adopted by the Plan Sponsor, to the extent legally practical, with alternate funds designated where collective investment funds may not be offered under a nonqualified plan.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[√]

					
					
						(1)

					
					
						VBA Plan Plus Company Stock.  In addition to the funds available under the VBA Plan, a Company Stock Fund will also be available for directed investment.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[  ]

					
					
						(2)

					
					
						VBA Plan Without Company Stock.  Regardless of whether a Company Stock Fund is available under the VBA Plan, no Company Stock Fund will be available for directed investment.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						[  ]

					
					
						(3)

					
					
						Company Stock Only.  In lieu of the funds available under the VBA Plan, a Company Stock Fund will be the only fund available for directed investment.

				

		
			
		

		
			

		 

		

			7

		

		

		
			IN WITNESS WHEREOF, each Corporation, by its duly authorized representatives, has executed this Adoption Agreement this  14th       day of  November      ,  2019.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						    

					
					
						Atlantic Union Bankshares Corporation

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[Enter Name of Plan Sponsor]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By

					
					
						/s/ Loreen Lagatta

				
	
					
						 

					
					
						 

					
					
						 

					
					
						   Its

					
					
						Chief Human Resource Officer and EVP

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						[SEAL]

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						ATTEST:

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						/s/ Rachael L. Lape

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Its

					
					
						General Counsel and SVP

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[Enter Name of Corporation]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						   Its

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						[SEAL]

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						ATTEST:

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Its

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						[Enter Name of Corporation]

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						   Its

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						[SEAL]

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						ATTEST:

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Its

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		 

		

			8aub_Exhibit 10.13

		
			Exhibit 10.13
		

		
			 
		

		
			 
		

		
			SCHEDULE OF NON-EMPLOYEE DIRECTORS’ ANNUAL COMPENSATION 
		

		
			OF 
		

		
			ATLANTIC UNION BANKSHARES CORPORATION 
		

		
			 
		

		
			Effective January 1, 2020
		

			
					
						 

					
					
						 

				
	
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Amount

				
	
					
						Annual Retainer Cash Fees (1)

					
					
						 

				
	
					
						Service as a Director

					
					
						$35,000

				
	
					
						Service as Chairman of the Board of Directors

					
					
						$80,000 (additional)

				
	
					
						Service as Vice Chairman of the Board of Directors 

					
					
						$20,000 (additional)

				
	
					
						Service as Chairman of Audit Committee

					
					
						$20,000 (additional)

				
	
					
						Service as Chairman of Compensation Committee

					
					
						$13,500 (additional)

				
	
					
						Service as Chairman of Risk Committee

					
					
						$15,000 (additional)

				
	
					
						Service as Chairman of Nominating and Corporate Governance Committee

					
					
						$10,000 (additional)

				
	
					
						Service as Chairman of Trust Committee

					
					
						$10,000 (additional)

				
	
					
						Members of Audit, Compensation, Risk, Nominating and Corporate Governance and Trust Committees

					
					
						$8,000 (additional)

				
	
					
						 

					
					
						 

				
	
					
						Meeting Fees Per Meeting

					
					
						 

				
	
					
						Executive Committee (in person)

					
					
						$1,000

				
	
					
						Executive Committee (telephonic lasting under an hour)

					
					
						$500

				
	
					
						Meetings above the maximum number of meetings during the year 

					
					
						$1,000

				
	
					
						 

					
					
						 

				
	
					
						Equity Compensation

					
					
						 

				
	
					
						In addition to cash compensation, non-employee directors receive an annual stock retainer of $50,000 paid quarterly in advance in unrestricted shares of the Company’s common stock. 

				
	
					
						 

					
					
						 

				
	
					
						(1) The retainer fees are payable in advance in quarterly installments.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}]]