Document:

Change-in-Control Severance Agreement dated as of May 1, 1998

 Exhibit 10.4 
 AMENDMENT TO CHANGE-IN-CONTROL SEVERANCE AGREEMENT 
 This Amendment to the Change-in-Control
Severance Agreement (the “Severance Agreement”), dated as of May 1, 1998 and amended as of September 30, 1999 between Ventas, Inc., a Delaware corporation (the “Company”), and T. Richard Riney (the “Employee”)
is made as of March 19, 2007. 
 WITNESSETH: 
 WHEREAS, the Employee and the Company entered into the Severance Agreement; 
 WHEREAS, the
Executive Compensation Committee of the Board of Directors of the Company has determined that it is in the best interests of the Company to enter into this Amendment to the Severance Agreement. 
 NOW, THEREFORE, the Company and Employee agree as follows: 
 1. Section 3 of the Severance Agreement is amended and restated in its entirety as follows: 
 3.
Severance Benefits. If at any time following a Change in Control and continuing for two years thereafter, the Company terminates the Employee without Cause, or the Employee terminates employment with the Company either for Good Reason or during any
Window Period, then as compensation for services previously rendered the Employee shall be entitled to the following benefits: 
 a. Cash
Payment. The Employee shall be paid cash equal to two times the greater of: 
 (i) the sum of (x) the Employee’s
Base Salary and Target Bonus as of the Termination of Employment, and (y) the fair market value (determined as of the Termination of Employment) of any targeted number of restricted shares authorized to be issued to the Employee in respect of
the year in which such Termination of Employment occurs (without regard to any acceleration of the award for such year), assuming for such purpose that all performance criteria applicable to such award with respect to the year in which such
Termination of Employment occurs were deemed to be satisfied, or 
 (ii) the sum of (x) the Employee’s Base Salary
and Target Bonus as of the Change-in-Control Date, and (y) the fair market value (determined as of the Change-in-Control Date) of any targeted number of restricted shares authorized to be issued to the Employee in respect of the year in which
such Change-in-Control Date occurs (without regard to any acceleration of the award for such year), assuming for such purpose that all performance criteria applicable to such award with respect to the year in which such Change-in-Control Date occurs
were deemed to be satisfied. 
  

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 Notwithstanding the foregoing, in no event shall the Employee receive more than the Maximum Amount
pursuant to this Section 3(a). The term Maximum Amount, for purposes of this Agreement, shall mean $3,000,000, provided, however, that for any termination that occurs in calendar years subsequent to 2007, the Maximum Amount will be adjusted to
reflect increases, if any, in the Consumer Price Index that have occurred in the period between December 31, 2006 and the end of the calendar year immediately preceding the date of termination. As an example, if the termination occurs in 2008,
the Maximum Amount shall be adjusted for increases in the Consumer Price Index that occur between December 31, 2006-December 31, 2007 and if the termination occurs in 2009, the Maximum Amount shall be adjusted for increases in the Consumer
Price Index that occur between December 31, 2006-December 31, 2008. For purposes of this Agreement, Consumer Price Index means the CPI for All Urban Consumers (All Items; Base Year 1982 ), compiled and published by the Bureau of Labor
Statistics of the United States Department of Labor 
 For purposes of this Agreement, “fair market value” shall have the meaning
ascribed to such term under the Company’s Incentive Compensation Plan. Payment shall be made in a single lump sum upon the Employee’s effective date of termination. 
 b. Continuation of Benefits. 
 (i) For a period of two years following the Termination of Employment, the Company, at its sole cost and expense, shall provide health insurance benefits to Employee (and his family) equivalent to the coverage that the Employee would have
had had he remained a participant under the health insurance plans applicable to Employee on the date of Termination of Employment, or, at the Employee’s election, the plans applicable to Employee as of the Change-in-Control Date. Such health
insurance benefits shall not have any waiting period for coverage and shall provide coverage for any pre-existing condition. Following this continuation period, the Employee shall be entitled to receive continuation coverage under Part 6 of Title I
of ERISA (“COBRA Benefits”) treating the end of this period as a termination of the Employee’s employment if allowed by law. 
 (ii) For a period of two years following the Termination of Employment, the Company shall maintain in force, at its expense, the Employee’s life insurance benefits in effect as of the Change-in-Control Date or as
of the date of Termination of Employment, whichever coverage limits are greater. 
 (iii) For a period of two years following
the Employee’s Termination of Employment, the Company shall provide short-term and long-term disability insurance benefits to Employee equivalent to the coverage that the Employee would have had had he remained employed or a participant under
the disability insurance plans applicable to Employee on the date of Termination of Employment, or, at the Employee’s election, the plans applicable to Employee as of the Change-in-Control Date. Should Employee become disabled during such
period, Employee shall be entitled to receive such benefits, and for such duration, as the applicable plan provides. 
  

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 c. Retirement Savings Plan. To the extent not already vested pursuant to the terms of such plan, the
Employee’s interests under the Retirement Savings Plan shall be automatically fully (i.e., 100%) vested, without regard to otherwise applicable percentages for the vesting of employer-matching contributions based upon the Employee’s years
of service with the Company. 
 d. Outstanding PCP Awards. The Company shall pay Employee within 30 days of the date of termination of
employment (but not earlier than the date on which the Release becomes irrevocable) a lump sum payment equal to the amount of awards under the Company’s Performance Cash Plan (“PCP”) that are based on actual performance for completed
fiscal years but have not yet been paid. As an example, assume that Employee, following the 2006 fiscal year, was awarded a PCP award of $100 that would, assuming continuous employment, have been paid out following the end of the 2008 fiscal year
(the “Outstanding PCP Award”). Upon a termination subject to this Section 3 that occurs prior to the payment of such Outstanding PCP Award, the Company would be obligated, pursuant to this Section 3(d), to pay Employee $100 in
respect of such Outstanding PCP Award. 
 e. Plan Amendments. The Company shall adopt such employee benefit plans or amendments to its
employee benefit plans, as applicable, as are necessary to effectuate the provisions of this Agreement. 
 2. A new Section 21 to the
Agreement shall be added as follows: 
 21. COMPLIANCE WITH SECTION 409A OF THE INTERNAL REVENUE CODE. All payments pursuant to this Agreement
shall be subject to the provisions of this Section 21. If Employee is a “Specified Employee” of the Company for purposes of Internal Revenue Code Section 409A (“Code Section 409A”) at the time of a payment event
set forth in this Agreement, then no severance or other payments pursuant to this Agreement shall be made to Employee by the Company until the amount of time has passed that is necessary to avoid incurring excise taxes under Code Section 409A.
Should this Section 21 result in a delay of payments to Employee, on the first day any such payments may be made without incurring a penalty pursuant to Code Section 409A (the “409A Payment Date”), the Company shall begin to make
such payments as provided for in this Agreement, provided that any amounts that would have been payable earlier but for the application of this Section 21, shall be paid in lump-sum on the 409A Payment Date along with accrued interest at the
rate of interest published in the Wall Street Journal as the “prime rate” (or equivalent) on the date that payments to Employee should have been made under this Agreement. For purposes of this provision, the term Specified Employee shall
have the meaning set forth in Section 409A(2)(B)(i) of the Internal Revenue Code of 1986, as amended or any successor provision and the treasury regulations and rulings issued thereunder. If any compensation or benefits provided by this
Agreement may result in the application of Code Section 409A, the Company shall, in consultation with the Employee, modify the Agreement in the least restrictive manner necessary in order to exclude such compensation from the definition of
“deferred compensation” within the meaning of such Code Section 409A or in order to comply with the provisions of Code Section 409A of the Code and without any diminution in the value of the payments or benefits to the Employee.

 3. In all other respects, the Severance Agreement shall continue in full force and effect. 
  

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	VENTAS, INC.
		
	By:	 	 /s/ Debra A. Cafaro

		 	Debra A. Cafaro,
		 	President and Chief Executive Officer
	
	EMPLOYEE
		
	By:	 	 /s/ T. Richard Riney

		 	T. Richard Riney

  

 -4-Restricted Stock Agreement dated July 5, 2005

 EXHIBIT 10.27 
 VALLEY FINANCIAL CORPORATION 
 RESTRICTED STOCK
AGREEMENT 
 July 5, 2005 
 Kimberly B. Snyder 
 Valley Bank 
 Dear Kimberly,

 I am pleased to inform you that effective as of July 5, 2005, Valley Financial Corporation (the “Company”) approved a grant
to you of shares of Company common stock, subject to the restrictions described below (the “Restricted Shares”). The grant is subject to the terms and conditions of this letter agreement (the “Agreement”) and the Valley Financial
Corporation 2005 Key Employee Equity Award Plan (the “Plan”), a copy of which has been provided to you, receipt of which is hereby acknowledged. The terms of the Plan are incorporated into this Agreement by reference. In the case of any
inconsistency between the Plan and this Agreement, the terms of the Plan shall control. Any term used in this Agreement that is defined in the Plan shall have the same meaning given to that term in the Plan. 
 1. Restricted Stock Award. The Company shall transfer 350 Restricted Shares to you as of July 5, 2005, (the “Grant Date”). The fair
market value of the Restricted Shares as of the Grant Date has been determined by the Company to be $12.50 per share. You have the right to elect to include the value of the Restricted Shares in gross income in the year of transfer pursuant to
Internal Revenue Code section 83(b) by completing the “Election to Include Value of Restricted Property in Gross Income in Year of Transfer Under Code Section 83(b)” form (the “83(b) Election Form”), attached as Exhibit A to
this Agreement. 
 2. Restrictions. Except as provided in this Agreement, the Restricted Shares are nontransferable and are subject to
a substantial risk of forfeiture. Your interest in the Restricted Shares shall become transferable and non-forfeitable (“Vested”) as of the date provided in Section 3 of this Agreement (the “Vesting Date”), if you are an
employee of the Company as of the applicable Vesting Date and have been so employed throughout the period beginning on the date of this Agreement and ending on the applicable Vesting Date and all of the following conditions have been satisfied in
their entirety based on the Company’s financial statements for the years ending December 31, 2005, 2006 and 2007, respectively: 
  

	 	a)	The Company shall have total assets of at least $600,000,000.00 as of December 31, 2007; and 

  

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	 	b)	The Company shall have achieved at least 15% average annual earnings per share growth year to year for each of the three fiscal years ending December 31, 2005, 2006 and 2007;
and 

  

	 	c)	The Company shall have at least a 15% return on average equity for fiscal year 2007. 

  

	 	d)	If any one of the above conditions are not satisfied in their entirety, the Restricted Shares will not vest and will be automatically forfeited on January 31, 2008

 3. Vesting 
 (a) Vesting Dates: January 31, 2008 
 (b) Death or Disability. If you die or become Disabled (as defined below)
before all of the Restricted Shares become Vested, all of the Restricted Shares shall be transferable and non-forfeitable as of the date of your death or Disability. For purposes of this Agreement, the term “Disabled” or
“Disability” means a condition resulting from bodily injury or disease that renders you unable to perform any and every duty pertaining to your employment with the Company. The Board of Directors of the Company, in its sole discretion,
will determine whether you are Disabled based on medical evidence and your eligibility for benefits under the long-term disability policy maintained by the Company, if any. The date of the Board of Director’s determination will be considered
your date of Disability for purposes of this Agreement. 
 (c) The Company, in its sole discretion, may accelerate the vesting of your
Restricted Shares. 
 4. Custody of Certificates. The Company shall retain custody of all stock certificates evidencing Restricted
Shares. You shall not be entitled to obtain custody of your stock certificate until you become Vested in your Restricted Shares. The stock certificate shall bear a legend referencing this Agreement and describing the terms and conditions of the
applicable restrictions on transfer. 
 5. Restrictions on Transfer of Restricted Shares. By signing the Agreement, you agree that you
will not sell or transfer your Vested Restricted Shares to a third party unless the Company does not agree to purchase such stock, as provided under Section 6 below, and the Company approves the sale to the third party. As a consequence of the
foregoing, the certificates for Restricted Shares shall contain a legend substantially in the following form: 
 The sale or other transfer of
the Shares of Stock represented by this certificate, whether voluntary, involuntary or by operation of law, is subject to certain restrictions on transfer set forth in the 2005 Valley Financial Corporation Key Employee Equity Plan, in the rules and
administration procedures adopted pursuant to such Plan and in an Agreement dated April 27, 2005. A copy of the Plan, such rules and procedures and such Restricted Stock Agreement may be obtained from the Secretary of Valley Financial
Corporation. 
  

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 6. Effect of Termination of Employment. If your employment with the Company terminates for any or
no reason (other than retirement, Disability or death), all Restricted Shares that are not then Vested shall be forfeited. You shall not be entitled to any payment for or compensation with respect to such unvested Restricted Shares. 
 7. Tax Liability and Income Tax Withholding. You agree as a condition of this Restricted Stock award to pay to the Company, or make arrangements
satisfactory to the Company regarding the payment to the Company of, the aggregate amount of any federal, state or local income taxes of any kind required by law to be withheld with respect to the Restricted Shares when the fair market value of the
Restricted Shares become taxable. You hereby authorize the Company to sell all or any part of the Restricted Shares if necessary to protect the Company from incurring a withholding tax liability. 
 8. Adjustments. If the number of outstanding shares of Company stock is increased or decreased as a result of a subdivision or consolidation of
shares, the payment of a stock dividend, stock split, or any other similar changes in capitalization, the number of Restricted Shares shall be appropriately adjusted by the Company, whose determination shall be binding. 
 9. Employment Rights. The award of Restricted Shares under this Agreement does not confer upon you any right to continue as an employee of the
Company or limit in any respect the right of the Company to terminate your employment. 
 10. Shareholder Rights. You will have the
right to receive dividends and distributions and will have the right to vote Restricted Shares, both unvested and Vested. If any such dividends or distributions are paid in share of the Company’s stock, the shares will be subject to the same
restrictions on transferability and the other provisions of this Agreement as are the Restricted Shares with respect to which they were distributed. 
 11. Governing Law. This Agreement shall be governed by the laws of Virginia. 
 12. Acceptance of
Award. You may accept this award and elect to receive the Restricted Shares by signing and returning the enclosed copy of this Agreement. Your signature will evidence your agreement to the terms and conditions set forth in this Agreement and the
Plan. This Agreement will not be effective until is signed and returned. 
 13. Entire Agreement, Amendment. This Agreement
constitutes the entire agreement between you and the Company and shall be binding upon your legatees, distributees, and personal representatives and the successors of the Company. This Agreement may only be amended by a writing signed by both you
and the Company. 
  

			
	Valley Financial Corporation
		
	By:	 	 /s/ Ellis L. Gutshall

		
	Its:	 	President / Chief Executive Officer
	Date:	 	July 5, 2005

			
		
	Signature:	 	 /s/ Kimberly B. Snyder

  

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