Document:

Employment Agreement

 Exhibit 10(h) 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this
“Agreement”) is made and entered into as of the 13th day of February, 2012, by and between BLOUNT INTERNATIONAL, INC., a Delaware corporation (the “Company”), and ANDREW W. YORK (“Executive”). 

W I T N E S S E T H: 
 RECITALS 
  

	 	A.	The Company desires to employ and retain the unique experience, abilities, and services of Executive, and Executive desires to be employed by the Company, subject to
the terms and conditions of this Agreement. 

  

	 	B.	As Senior Vice President, Global Sales and Marketing, FLAG Division, Executive will be engaged in administrative, executive, or professional work in connection with
Executive’s employment with the Company. Executive will perform predominantly intellectual, managerial, or creative tasks and will earn a salary and be paid on a salary basis. 

 

	 	C.	The Company will have a protectable interest in connection with Executive’s employment with the Company. Executive will have access to trade secrets, as that term
is defined in ORS 646.461, or will have access to competitively sensitive confidential business and professional information that otherwise might not qualify as a trade secret, including product development plans, product launch plans, marketing
strategy, or sales plans. 

  

	 	D.	The Company informed Executive in a written employment offer received by Executive at least two weeks before the first day of Executive’s employment with the
Company that: (i) an arbitration agreement was required as a condition of Executive’s employment with the Company; and (ii) a noncompetition agreement was required as a condition of Executive’s employment with the Company.

 AGREEMENT 
 1. Employment and Term. 
 (a) Subject to the terms and conditions of this
Agreement, the Company hereby employs Executive, and Executive hereby accepts employment as the Company’s Senior Vice President, Global Sales and Marketing, FLAG Division and shall have such responsibilities, duties and authority that are
consistent with such positions as may be from time to time assigned to Executive by the Chief Executive Officer (the “CEO”) (or the CEO’s designee). Executive will comply with the reasonable instructions, policies, and rules that the
Company may establish from time to time. During the Term, Executive will devote Executive’s full time and attention to the performance of Executive’s duties under this Agreement and will discharge Executive’s duties to the best of
Executive’s ability, in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances, and in a manner Executive reasonably believes to be in the best interests of the Company. 

(b) Executive may serve in various volunteer capacities for various non-profit civic, charitable and educational organizations from time
to time, so long as such nonprofit activities do not materially interfere with Executive’s duties hereunder. 
 (c)
Executive may continue to serve as an advisor to the start-up entities, set forth in Schedule 1 hereto, so long as his activities do not create a conflict of interest with the Company and do not materially

 
interfere with Executive’s duties hereunder. Executive, with advance approval from the CEO, which shall not unreasonably be withheld, shall be allowed to serve on a for profit board of
directors organization or entity other than the Company. Notwithstanding the foregoing, Executive shall only serve on outside boards of directors and/or invest in outside entities to the extent such services do not create a conflict of interest with
the Company and do not materially interfere with Executive’s duties under this Agreement. 
 (d) Unless earlier terminated
as provided herein, Executive’s employment under this Agreement shall be for a two-year term (the “Initial Term”) commencing on February 13, 2012 (the “Effective Date”). At the end of the Initial Term, this Agreement
shall extend automatically without further action by either the Company or Executive for successive additional one (1) year periods (the Initial Term and the successive one-year extension periods are hereinafter referred to as the
“Term”) unless either party delivers to the other, at least ninety (90) days prior to the expiration of the Initial Term or any such one-year extension period, written notice of its decision not to extend this Agreement, in which
event this Agreement shall terminate upon the expiration of the then current Term. Following termination, those provisions that by their nature continue following termination, shall continue in full force and effect. 

(e) Executive represents and warrants to the Company that the signing and delivery of this Agreement by Executive and the performance by
Executive of all of Executive’s obligations under this Agreement will not (i) breach any agreement to which Executive is a party, or give any person the right to accelerate any obligation of Executive; (ii) violate any law, judgment,
or order to which Executive is subject; or (iii) require the consent, authorization, approval of any person, including but not limited to any governmental body. 
 (f) Executive acknowledges that the terms of this employment relationship may be supplemented by policies adopted by the Company from time to time. The Company may revise its policies any time in its sole
discretion. In the event of any conflict between the terms of this Agreement and the Company’s policies, the terms of this Agreement shall govern. 
 (g) Executive understands that Executive’s employment relationship with the Company is “AT-WILL,” and that the Company may, subject to the terms and conditions of this Agreement, terminate
the relationship at any time for any reason or no reason. 
 2. Compensation and Benefits. As compensation for
Executive’s services during the Term of this Agreement, Executive shall be paid and receive the amounts and benefits set forth in subsections (a) through (d) below: 

(a) An annual base salary (“Base Salary”) at a rate of Three Hundred Fifty Thousand Dollars ($350,000) per year, prorated for
any partial year of employment. Executive’s Base Salary shall be subject to annual review at such time as the Company conducts salary reviews for its executives generally. Executive’s salary shall be payable in substantially equal
installments on a semi-monthly basis, or in accordance with the regular payroll practices in effect and applicable to Executive from time to time. 
 (b) Executive shall be eligible to participate in the Company’s Executive Management Annual Incentive Program (“Incentive Program”). The Company will establish performance goals for
Executive each calendar year under the Incentive Program, and Executive’s annual Target Bonus shall be 50% of Base Salary. The annual incentive bonus payable under this subsection (b) shall be payable as a lump sum at the same time bonuses
are paid to other executives after certification by the Compensation Committee (or its designee) that the applicable performance objectives have been met, on or before March 15 of the following year. If permitted by the terms of the Incentive
Program for the applicable calendar year, Executive may elect to defer all or a portion of the bonus by making such election deferral by June 30 of each year; provided, however that for calendar year 2012, the election, if permitted, must be
within thirty (30) days of the Effective Date. 

  
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 (c) Executive shall be eligible to participate in the annual Long Term Incentive Program
(LTIP), as may be administered from time to time by the Compensation Committee, pursuant to the terms of the written agreement evidencing any award that is granted thereby. In 2012, Executive shall receive LTIP at a rate of 150% of Target Bonus, the
amount being awarded as 30% Restricted Stock Units (RSUs) and 70% Stock Appreciation Rights (SARs). 
 (d) Executive shall be
entitled to participate in, or receive benefits under, any “employee benefit plan” (as defined in Section 3(3) of ERISA) or employee benefit arrangement made generally available by the Company to its executives from time to time,
including plans providing 401(k) benefits, matching and Savings Plus benefits, deferred compensation, health care (including Exec-U-Care), dental and vision care, life insurance, disability, accidental death and similar benefits. 

(e) Executive will be paid a One Hundred Fifty Thousand Dollar ($150,000) signing bonus that must be repaid to the Company if Executive
terminates his employment without Good Reason or the Company terminates Executive for Cause before the end of the Initial Term. 
 (f) Executive will be issued, from the Blount International, Inc. 2006 Equity Incentive Plan, 50,000 SARs, priced as of the close of business the Effective Date, subject to the terms of a Stock
Appreciation Rights Agreement and 10,000 RSUs subject to a Restricted Stock Unit Award Agreement. Both agreements will provide for vesting and exercisability of all SARs and RSUs at the end of three years of Executive’s employment with the
Company and not incrementally over such period (i.e. “cliff vesting”). Both agreements will provide for immediate vesting and exercisability (subject to any 409A restrictions) of all rights/units upon a Change in Control as defined by the
operative Plan. If Executive terminates his employment for Good Reason, or (iii) the Company terminates Executive without Cause (other than due to Executive’s death or Disability) the SARs and RSUs will immediately vest and will become
unrestricted at the end of the three year period following Executive’s Effective Date. 
 (g) Executive will be entitled
to five (5) weeks of vacation each calendar year. Executive will be provided an annual physical examination and a financial/tax consultant for personal financial and tax planning. Executive will be promptly reimbursed by the Company for all
reasonable business expenses Executive incurs in carrying out Executive’s duties and responsibilities under this Agreement. If any of the perquisite amounts provided to Executive pursuant to this subsection (f) are subject to federal,
state or local income taxes, Executive will be provided an appropriate tax gross-up on such amounts, which shall be paid to Executive in the last paycheck of each calendar year. 

3. Confidentiality and Noncompetition. 
 (a) For the purposes of this Section 3, Company shall include Blount International, Inc. and any of its subsidiaries and affiliates. Executive acknowledges that, prior to and during the Term of this
Agreement, the Company has furnished and will furnish to Executive Confidential Information which could be used by Executive on behalf of a competitor of the Company to the Company’s substantial detriment. Moreover, the parties recognize that
Executive during the course of Executive’s employment with the Company will develop important relationships with customers and others having valuable business relationships with the Company. In view of the foregoing, Executive acknowledges and
agrees that the restrictive covenants contained in this Section are reasonably necessary to protect the Company’s legitimate business interests and goodwill. If it is determined that any term of this Section 3 is overly broad or
unreasonable as applied to Executive, the parties agree that it is their mutual intention and agreement that these restrictive covenants be enforced to the fullest extent possible and the restrictive covenants shall be modified to the extent
necessary to accomplish such purpose. 
 (b) Executive agrees that Executive shall protect the Company’s Confidential
Information and shall not disclose to any Person, or otherwise use, except in connection with Executive’s duties performed in accordance with this Agreement or otherwise for the Company, any Confidential Information at any time, including
following the termination of Executive’s employment with the Company for any reason; provided, 

  
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however, that Executive may make disclosures required by a valid order or subpoena issued by a court or administrative agency of competent jurisdiction, in which event Executive will promptly
notify the Company of such order or subpoena to provide the Company an opportunity to protect its interests. Executive will promptly notify the Company of any unauthorized use or disclosure of Confidential Information, or any other breach of this
Section 3 and assist the Company in every reasonable way to retrieve any Confidential Information that was used or disclosed by Executive without the Company’s specific prior written authorization and to mitigate the harm caused by the
unauthorized use or disclosure. Executive’s obligations under this Section 3(b) shall survive any expiration or termination of this Agreement for any reason. 
 (c) Upon the termination or expiration of Executive’s employment hereunder, Executive agrees to deliver promptly to the Company all Company files, customer lists, management reports, memoranda,
research, Company forms, financial data and reports and other documents supplied to or created by Executive in connection with Executive’s employment hereunder (including all copies of the foregoing) in Executive’s possession or control,
and all of the Company’s equipment and other materials in Executive’s possession or control. Executive’s obligations under this Section 3(c) shall survive any expiration or termination of this Agreement. 

(d) Upon the termination or expiration of Executive’s employment under this Agreement, Executive agrees that for a period of one
(1) year from Executive’s Date of Termination (as defined in Section 6), Executive shall not (i) directly or indirectly advise, invest in, own, manage, operate, control, be employed by, provide services to, lend money to,
guarantee any obligation of, lend Executive’s name to, or otherwise assist any Person engaged in or planning to be engaged in any business whose products, services, or activities compete or will compete in whole or in part with the
Company’s products, services, or activities in the geographic areas of the world in which the Company conducts its principal manufacturing and sales operations as of the Date of Termination (for example, as of the Effective Date the geographic
areas include: China, Brazil, Germany, Canada and North America). 
 (e) Upon the termination or expiration of Executive’s
employment under this Agreement, Executive agrees that for a period of one (1) year from Executive’s Date of Termination, Executive shall not (i) divert or attempt to divert any person, concern or entity which is furnished products or
services by the Company, with whom Executive had dealings while employed by the Company, from doing business with the Company or otherwise cause any person, concern or entity with whom he had dealings while employed by the Company to change its
relationship with the Company, or (ii) solicit, lure or attempt to hire away any of the employees of the Company with whom Executive interacted directly or indirectly, while employed with the Company. 

(f) Executive acknowledges that if Executive breaches or threatens to breach this Section 3, Executive’s actions may cause
irreparable harm and damage to the Company that cannot be compensated in damages. Accordingly, if Executive breaches or threatens to breach this Section 3, the Company shall be entitled to seek injunctive relief, in addition to any other rights
or remedies available to the Company. This is an independent covenant on the part of Executive and the existence of any claim or cause of action by Executive against the Company, whether predicated on this Agreement or otherwise, shall not
constitute a defense to the enforcement by the Company of Executive’s agreement under this Section 3(e). 
 4.
Termination. 
 4.1 By Executive without Good Reason. Executive shall have the right to terminate
Executive’s employment hereunder at any time by Notice of Termination (as described in Section 6). If Executive terminates Executive’s employment for any reason other than Good Reason (as defined in Section 4.2 below), the
Company’s obligations under this Agreement shall cease as of the date of such termination and Executive shall not be entitled to any further compensation and benefits other than those due and payable as of the Date of Termination and as set
forth in Sections 4.5 and 4.6. 

  
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 4.2 By Executive for Good Reason. Executive may terminate Executive’s
employment for “Good Reason” if: (i) (a) there is a material diminution in Executive’s authority, duties, and responsibilities or the Executive no longer reports directly to the Office of the CEO, (b) the Company
requires Executive’s primary office to be located more than 50 miles from the Company’s principal executive offices in Portland, Oregon, except for reasonably required travel or expatriate services for Company business, (c) a material
reduction in the Executive’s Base Salary or Incentive Program Target Bonus percentage (except that it shall not constitute Good Reason if Executive’s Base Salary or compensation and benefits are materially reduced in connection with an
across-the-board reduction of pay or benefits for executives of similar status), or (d) the Company has materially breached this Agreement, and (i) Executive has provided written notice of such breach to the Company within ninety
(90) days after such breach occurring, and (ii) such breach has not been cured within thirty (30) days after written notice of such breach is given by Executive to the Company, and (iii) Executive terminates employment within
sixty (60) days of the expiration of such cure period by providing Notice of Termination. 
 (a) Severance. In the
event Executive terminates employment with the Company for “Good Reason,” in addition to the rights under Sections 4.5 and 4.6, Executive shall be entitled to receive a severance amount (the “Severance”) payable in equal
installments over the Severance Period, subject to Sections 4.2(b) through (f). The “Severance Period” means the 12-month period commencing on Executive’s Date of Termination. The aggregate amount of Severance shall be calculated as
follows and shall be subject to withholding of all applicable taxes: 
 (i) Severance Base Salary –
The amount of Base Salary that would have been paid to Executive over the Severance Period if Executive had been employed, based on the annual Base Salary in effect as of the Date of Termination; 

(ii) Severance Bonus – An amount calculated as follows: (i) the number of months in the Severance
Period, multiplied by (ii) one-twelfth of the Average Bonus. “Average Bonus” means the average of those cash bonuses awarded to Executive, if any, (including, if applicable, any completed calendar year for which the bonus has been
earned but has not yet been paid), for each of the two calendar years completed immediately preceding the year in which such termination occurs. If Executive has been employed for less than two completed calendar year cycles, the Average Bonus will
be calculated at 50% of the then Base Salary amount. 
 (iii) Prorated Bonus – An amount calculated
as follows: (i) the Average Bonus, multiplied by, (ii) the number of days Executive was employed by the Company in the calendar year in which the termination occurs divided by 365. 

(iv) Cash in Lieu of Health and Life Insurance Coverage – An amount equal to the amount the Company would
have spent on health insurance and life insurance on behalf of Executive and Executive’s dependents during the Severance Period had Executive continued to be employed during the Severance Period, based on the rates and coverage provided to
Executive and Executive’s dependents as of the Date of Termination. 
 (v) Cash in Lieu of Retirement
Funds – An amount equal to the amount the Company would have contributed on behalf of Executive to any employee retirement plans and deferred compensation plans during the Severance Period, based on the terms of the plans as of the Date of
Termination. 
 (b) Section 409A Treatment of Payments. Each installment payment under Section 4.2(a) is a
separate payment and the structure of the Severance is intended to satisfy the “short-term deferral exception” and/or the “two times pay exception” of Section 409A of the Code; provided that, if such exceptions do not apply
and Executive is determined by the Company to be a “specified employee” under Section 409A, no payments that are subject to Section 409A will be made under Section 4.2(a) until a date which is six (6) months after the
Date of Termination (and on such date the payments that would otherwise have been made during such six-month period shall be made). 

  
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 (c) Release of Claims. To be entitled to the Severance in Section 4.2(a)
Executive must sign a general release of claims in the form required by the Company, releasing the Company, its subsidiaries, affiliates, directors, officers, and employees from all claims, damages and liabilities related to Executive’s
employment and any benefit plans or agreements. No payments shall be made under Section 4.2(a) until such release has been properly executed and delivered to the Company and until the expiration of the revocation period, if any, provided under
the release. If the release is not properly executed by Executive and delivered to the Company within the reasonable time periods specified in the release, the Company’s obligations under Section 4.2(a) will terminate. 

(d) No Post-Employment Breach. As a condition to receipt of any installment of the Severance under Section 4.2(a), Executive
shall not have breached any post-employment obligation of Executive under this Agreement. If at any time Executive breaches this Agreement, in addition to any other remedies at law or in equity, all unpaid installments of Severance shall be
forfeited. 
 (e) No Duty to Mitigate. The Company agrees that if Executive is entitled to Severance, Executive shall
not be required to mitigate damages by seeking other employment, nor shall any amount Executive earns reduce the amount payable by the Company hereunder. 
 (f) Only Severance Benefits. Executive agrees that the Severance shall be the only severance benefit payable to Executive by the Company and Executive hereby waives Executive’s rights (if any)
to any severance benefits under any other plan or program of the Company and its affiliates. 
 4.3 By Company for Cause,
Death, or Disability. The Company shall have the right to terminate Executive’s employment under this Agreement at any time during the Term for Cause (defined in Section 5.2), upon Executive’s death, or due to Executive’s
Disability (defined in Section 5.5). In the event of termination for Cause, death or Disability, the Company’s obligations under this Agreement shall cease as of the Date of Termination; provided, however, that Executive will be entitled
to whatever benefits are payable as of, or as a result of, such termination pursuant to the terms of any health, life insurance, disability, welfare, retirement or other plan or program maintained by the Company in which Executive participates and
Executive shall be entitled to the rights under Sections 4.5, 4.6 and 4.7. 
 4.4 By Company Otherwise. If the Company
terminates Executive’s employment during the Term of this Agreement other than for Cause, death or Disability pursuant to Section 4.3, Executive shall be entitled to receive the Severance pursuant to Section 4.2(a), subject to all of
the terms and conditions of Sections 4.2(b) through (f). 
 4.5 Equity Awards/Stock Options. Under any circumstances of
termination of Executive’s employment, the vesting and exercisability of stock options, stock appreciation rights, restricted stock, restricted stock units and other equity awards held by Executive, shall be determined in accordance with the
agreements or plans for such awards. 
 4.6 Previously Earned Bonus. In the event of any termination, other than
termination for Cause, Executive shall be entitled to be paid any bonus that Executive had previously earned from the Company with respect to a completed calendar year, but which may not yet have been paid as of the Date of Termination. Such bonus
shall be payable on the date such amounts are payable to other executives and Executive’s termination shall not affect the payment of such bonus. 
 4.7 Accrued Obligations. In the event of any termination, Executive shall be entitled to be paid his Base Salary accrued through the date of termination, and any unreimbursed business expenses
submitted in accordance with Company policy (collectively “Accrued Obligations”). All payments of Accrued Obligations shall be made to Executive within thirty (30) business days of the date of termination of Executive’s
employment under this Agreement. 

  
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 4.7 Limitation on Payments. Notwithstanding anything in this Agreement to the
contrary, any benefits payable or to be provided to Executive by the Company or its affiliates, whether pursuant to this Agreement or otherwise, which are treated as severance payments under Code (defined in Section 5.3) Section 280G
(“Severance Payments”) shall be modified in the manner provided below to the extent necessary so that the benefits payable or to be provided to Executive under this Agreement that are treated as Severance Payments, as well as any payments
or benefits provided outside of this Agreement that are so treated, shall not cause the Company to have paid an excess Severance Payment. In computing such amount, the parties shall take into account all provisions of Code Section 280G, and the
regulations thereunder, including making appropriate adjustments to such calculation for amounts established to be reasonable compensation. In the event that the amount of any Severance Payments which would be payable to or for the benefit of
Executive under this Agreement must be reduced to comply with this Section 4.7, the amount of the Severance described in Section 4.2(a) shall be reduced. This Section 4.7 shall be interpreted so as to avoid the imposition of excise
taxes on Executive under Section 4999 of the Code or the disallowance of a deduction to the Company pursuant to Section 280G(a) of the Code with respect to amounts payable under this Agreement or otherwise. This determination will be made
after reasonable consultation with a national accounting firm selected by the Company. 
 4.8 Section 409A
Compliance. This Agreement shall at all times be interpreted and operated in good faith compliance in accordance with the requirements of Section 409A. Any action that may be taken (and, to the extent possible, any action actually taken) by
the Company shall not be taken (or shall be void and without effect), if such action violates the requirements of Section 409A. Any provision in this Agreement that is determined to violate the requirements of Section 409A shall be void
and without effect. In addition, any provision that is required to appear in this Agreement in accordance with Section 409A that is not expressly set forth herein shall be deemed to be set forth herein, and the Agreement shall be administered
in all respects as if such provision were expressly set forth. 
 5. Definitions. For purposes of this Agreement the
following terms shall have the meanings specified below: 
 5.1 “Board” or “Board of
Directors”. The Board of Directors of the Company. 
 5.2 “Cause”. Any of the following are grounds
for the Company’s termination of Executive for “Cause.” 
 (a) Any act by Executive which has been found in an
applicable court of law to constitute a felony;| 
 (b) Executive engages in any form of dishonesty or conduct involving moral
turpitude related to Executive’s employment relationship with the Company or that otherwise reflects adversely on the reputation or operations of the Company, as determined in the good faith judgment of the CEO (or the CEO’s designee);

 (c) Executive’s breach of any contractual, fiduciary or other recognized duty of Executive to Company or any of
its affiliates, or any other conduct that is patently inimical to the interests of the Company or any of its affiliates; 
 (d)
Executive materially breaches this Agreement; or 
 (e) The willful or continued failure by Executive substantially to perform
Executive’s duties with the Company or to comply with policies of the Company (other than any such failure resulting from incapacity due to mental or physical illness not constituting a Disability, as defined herein) if the CEO (or CEO’s
designee) has delivered to the Executive a notice setting forth (i) the performance failure or policy compliance 

  
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problem, (ii) the reasonable action that would remedy such failure or problem, and (iii) the required time frame for remedying such failure or problem (which in the case of a failure or
problem not capable of being remedied within thirty (30) days, the requirement that commencement of such remediation must occur within seven (7) days and be diligently pursued thereafter, or for a failure or problem capable of being
remedied within thirty (30) days, such 30-day deadline), and Executive shall not have complied with the required remediation timeframe, provided that direction in such notice is not inconsistent with this Agreement or Executive’s
responsibilities hereunder and the refusal or failure is not based on Executive’s reasonable and good faith belief, as expressed by written notice to the Company given within ten (10) business days of written direction from the Board, that
the implementation of such direction of the Company would be unlawful or unethical. 
 For purposes of this Agreement, no act or
failure to act by Executive shall be deemed to be “willful” unless done or omitted to be done by Executive not in good faith and without reasonable belief that Executive’s action or omission was in the best interests of the Company.
Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board of Directors or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by Executive
in good faith and in the best interests of the Company. 
 5.3 “Code”. The Internal Revenue Code of 1986, as
it may be amended from time to time. 
 5.4 “Confidential Information”. All technical, business, and other
information relating to the business of the Company or its subsidiaries or affiliates, including, without limitation, technical or nontechnical data, formulae, compilations, programs, devices, methods, techniques, processes, financial data,
financial plans, product plans, and lists of actual or potential customers or suppliers, that (i) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other
Persons, and (ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy or confidentiality. Such information and compilations of information shall be contractually subject to protection under this
Agreement whether or not such information constitutes a trade secret and is separately protectable at law or in equity as a trade secret. 
 5.5 “Disabled” or “Disability”. Executive’s inability to fully and competently perform Executive’s duties hereunder with or without a reasonable accommodation
for a period of more than 120 continuous days or more than 180 nonconsecutive days in any twelve (12) month period due to a physical or mental impairment or Executive becomes eligible for benefits under a long-term disability policy or similar
income replacement benefit offered by the Company. 
 5.6 “Person”. Any individual, corporation, bank,
partnership, joint venture, association, joint-stock company, trust, unincorporated organization or other entity. 
 6.
Termination Procedures. During the Term of this Agreement, any purported termination of Executive’s employment (other than by reason of death) shall be communicated by written notice (“Notice of Termination”) from one party
hereto to the other party hereto in accordance with Section 11. A Notice of Termination for Cause is required to include the information supporting a finding of “Cause” as defined in Section 5.2. “Date of Termination,”
with respect to any purported termination of Executive’s employment during the Term of this Agreement, shall mean (i) if Executive’s employment is terminated by Executive’s death, the date of Executive’s death, (ii) if
Executive’s employment is terminated for Disability, thirty (30) days after Notice of Termination is given (provided that Executive shall not have returned to the full-time performance of Executive’s duties during such thirty
(30) day period), and (iii) if Executive’s employment is terminated for any other reason, the date specified in the Notice of Termination (which, in the case of a termination by the Company, shall not be less than thirty
(30) days, except in the case of a termination for Cause in which case termination may be immediate; and in the case of a termination by Executive, the date specified in the Notice shall not be less than thirty (30) days nor more than
sixty (60) days, respectively, from the date such Notice of 

  
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Termination is given). If Executive terminates Executive’s employment under Section 4.1 or 4.2, the Company, in its sole discretion, may require that Executive’s employment
terminate at any time after Executive has given Notice of Termination, which election shall not be deemed a termination by the Company under Section 4.4, provided that if the Company makes such an election, (i) in the case of termination
under Section 4.1, the Base Salary shall be paid through the notice period, and (ii) in the case of termination under Section 4.2, the Severance Period shall be extended by one month. Likewise, if the Company terminates the Executive
other than for Cause, in lieu of the applicable notice period, the Company may give notice of immediate termination and extend the Severance Period by one month. 
 7. Intellectual Property Rights. 
 7.1 Creative Work. Executive
agrees that all creative work and work product relating to the business of the Company or its subsidiaries or affiliates, including but not limited to all technology, designs, business management tools, processes, software, patents, trademarks, and
copyrights developed by Executive during employment with the Company, regardless of when or where such work or work product was produced, constitutes work made for hire, all rights of which are owned by the Company. 

7.2 Assignment. Executive hereby assigns to the Company all right, title and interest, whether by way of copyrights, trade
secrets, trademark, patent, or otherwise, in all such creative work or work products, as defined in section 7.1, regardless of whether the same is subject to protection by patent, trademark or copyright law. At the Company’s request and
expense, Executive will sign such documents and take such actions that the Company deems reasonably necessary to perfect, protect, and evidence the Company’s right in the creative work. 

8. Contract Non-Assignable. The parties acknowledge that this Agreement has been entered into due to, among other things, the
special skills of Executive, and agree that this Agreement may not be assigned or transferred by Executive, in whole or in part, without the prior written consent of the Company. 

9. Successors; Binding Agreement. 
 9.1 In addition to any obligations imposed by law upon any successor to, or transferee of, the Company, the Company will require any successor to, or transferee of, all or substantially all of the
business and/or assets of the Company or stock of the Company (whether direct or indirect, by purchase, merger, reorganization, liquidation, consolidation or otherwise) to expressly assume and agree to perform this Agreement, in the same manner and
to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this
Agreement. 
 9.2 This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal
representatives, executors, administrators, successors, heirs, distributees, devisees and legatees and by the Company’s successors and assigns. If Executive shall die while any amount would still be payable to Executive hereunder (other than
amounts which, by their terms, terminate upon the death of Executive) if Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal
representatives or administrators of Executive’s estate. 
 10. Other Agents. Nothing in this Agreement is to be
interpreted as limiting the Company from employing other personnel on such terms and conditions as may be satisfactory to the Company. 

  
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 11. Notices. All notices, requests, demands and other communications required or
permitted hereunder shall be in writing and shall be deemed to have been duly given if delivered or three (3) business days after mailing if mailed, first class, certified mail, postage prepaid: 

 

			
	To the Company	  	 Blount International, Inc.

4909 SE International Way
 Portland, OR
97222
  
 ATTN: General Counsel

		
	To the Executive:	  	 Andrew W. York
 1127 SW
Myrtle Drive
 Portland, Oregon 97201

 Any party may change the address to which notices, requests, demands and other communications shall be delivered or
mailed by giving notice thereof to the other party in the same manner provided herein. 
 12. Provisions Severable. If
any provision or covenant, or any part thereof, of this Agreement should be held by any court to be invalid, illegal or unenforceable, either in whole or in part, such invalidity, illegality or unenforceability shall not affect the validity,
legality or enforceability of the remaining provisions or covenants, or any part thereof, of this Agreement, all of which shall remain in full force and effect. 
 13. Waiver. Failure of either party to insist, in one or more instances, on performance by the other in strict accordance with the terms and conditions of this Agreement shall not be deemed a
waiver or relinquishment of any right granted in this Agreement or the future performance of any such term or condition or of any other term or condition of this Agreement, unless such waiver is contained in a writing signed by the party making the
waiver. 
 14. Indemnification. During the term of this Agreement and after Executive’s termination, the Company
shall indemnify Executive and hold Executive harmless from and against any claim, loss or cause of action arising from or out of Executive’s performance as an officer, director or employee of the Company or any of its subsidiaries or other
affiliates or in any other capacity, including any fiduciary capacity, in which Executive serves at the Company’s request, in each case to the maximum extent permitted by law and under the Company’s Articles of Incorporation and Bylaws
(the “Governing Documents”), provided that in no event shall the protection afforded to Executive hereunder be less than that afforded under the Governing Documents as in effect on the date of this Agreement except from changes mandated by
law. During the Term and after Executive’s termination, Executive shall be covered by any policy of directors’ and officers’ liability insurance maintained by the Company for the benefit of its officers and directors. 

15. Amendments and Modifications. This Agreement may be amended or modified only by a writing signed by both parties hereto.

 16. Governing Law. The validity and effect of this Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Oregon. 
 17. Arbitration of Disputes; Expenses. All claims by Executive for
compensation and benefits under this Agreement shall be directed to and determined by the Board (or its designee) and shall be in writing. Any denial by the Board (or its designee) of a claim for benefits under this Agreement shall be delivered to
Executive in writing and shall set forth the specific reasons for the denial and the specific provisions of this Agreement relied upon. The Board shall afford a reasonable opportunity to Executive for a review of a decision denying a claim and shall
further allow Executive to appeal to the Board a decision of the Board within sixty (60) days after notification by the Board that Executive’s claim has been denied. Unless prohibited by applicable law, any

  
 -10-

 
dispute or controversy arising under or in connection with this Agreement or with Executive’s employment shall be settled exclusively in Portland, Oregon, in accordance with the then
effective arbitration rules of the Arbitration Service of Portland, Inc. (or of the American Arbitration Association, if the Arbitration Service of Portland, Inc. no longer exists), with the exception of any rules allowing for class action
arbitration. To the extent administratively practicable, the Company and the Executive agree to select an arbitrator who is an attorney with experience in employment law disputes. Judgment may be entered on the arbitrator’s award in any court
having jurisdiction. The prevailing party shall, to the extent allowed by law, be entitled to attorney’s fees and costs, and any attorney’s fees and costs on appeal. However, nothing in this Section 17 will prohibit or otherwise
prevent either party from seeking equitable or injunctive relief or an order to compel arbitration; and any such action shall be brought in a state or federal court located in Multnomah County, Oregon, or Clackamas County, Oregon. The parties
hereto agree that they are subject to the jurisdiction of the federal and state courts of Oregon for the purpose of such actions. Except to the extent provided in this Section 17, each party shall pay its own legal fees and other expenses
associated with any dispute. 
 18. Entire Agreement. This Agreement contains the entire understanding of the parties
regarding the subject matter of this Agreement and supersedes all prior and contemporaneous negotiations and agreements, whether written or oral, between the parties with respect to the subject matter of this Agreement 

IN WITNESS WHEREOF, the parties have executed this Employment Agreement as of the day and year first above written. 

 

			
	EXECUTIVE:
	
	 /s/ Andrew W. York

	ANDREW W. YORK
	
	COMPANY:
	
	BLOUNT INTERNATIONAL, INC.
		
	By	 	 /s/ Josh Collins

	Joshua L. Collins, Chief Executive Officer

  
 -11-

 Schedule 1 
 Start-Up Entities Advised by Executive as of Effective Date 
 (1) Pro-Lift Suspension, LLC

 (2) York & Smith, Sporting Good Products 
 (3) Pendleton Arms/Rifle Company 
 (4) York Sporting Goods 

  
 -12-Exhibit 10.13

 EXHIBIT 10.13 
 (Restated Electronically for SEC filing purposes only) 

SUPPLEMENTAL RETIREMENT AGREEMENT 
 THIS SUPPLEMENTAL RETIREMENT AGREEMENT (“Agreement”), made and entered into this 27th day of May, 2008, by and between the Bank of Hampton Roads, a banking corporation organized and existing under the
laws of the commonwealth of Virginia, hereinafter called the Corporation, and Douglas J. Glenn, hereinafter called the Executive. 
 WITNESSETH: 
 WHEREAS, the Executive was employed by the Corporation on November 1, 2007 as
its Executive Vice President and General Counsel; 
 WHEREAS, the terms of this Agreement were contained in summary form in a letter outlining
the terms of employment between the Corporation and the Executive dated September 11, 2007; and, 
 WHEREAS, the Corporation and the
Executive now desire to enter into this Agreement as follows: 
 ARTICLE ONE 

Definitions 
 1.01
“Agreement Effective Date” is November 1, 2007. 
 1.02 “Plan Retirement Date” is the
Executive’s 65th birthday. 

1.03 “Plan Administrator” shall mean the Board of Directors of the Corporation or their designee. 

1.04 “Change in Control” is hereby defined as the date that (i) any one person, or more than one person, acting as a group, acquires
ownership of stock of Hampton Roads Bankshares, Inc. that, together with stock held by such person or group constitutes more than 50% of the total fair market value or total voting power of the stock of Hampton Roads Bankshares, Inc.,
(b) during any period of twelve consecutive months, individuals who at the beginning of such period constituted the Board and any new directors, whose election by the Board or nomination for election by Hampton Roads Bankshares, Inc.’s
stockholders was approved by a vote of at least three-fourths (3/4ths) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease
for any reason to constitute a majority of the Board, or (c) during any period of twelve consecutive months, (i) any one person, or more than one person, acting as a group, acquires ownership of stock of Hampton Roads Bankshares, Inc.
that, together with stock held by such person or group constitutes more than 30% of the total voting power of the stock of Hampton Roads Bankshares, Inc., and (ii) individuals who at the beginning of such period constituted the Board cease in
connection with such 30% change in voting stock ownership, cease to constitute a majority of the Board. Anything herein to the contrary notwithstanding, the definition of “Change in Control” shall be interpreted so as to comply with the
terms of Section 409A of the Internal Revenue Code and the regulations thereunder. 
 1.05 “Accrued Benefit” shall mean the
Executive’s Normal Retirement Benefit calculated on the basis of the Benefit Computation Base as of the date on which the Executive’s employment with the Corporation is terminated (to include voluntary retirement), multiplied by a
fraction: the numerator of which is: if employment is terminated prior to November 1, 2012, the numerator is zero (0); if employment is terminated on or after November 1, 2012 the numerator is the number of completed calendar months the
Executive has participated under this Agreement after November 1, 2007 to a maximum of 180; and the denominator of which is the number 180. 

  
 1 

 1.06 “Benefit Computation Base” shall mean the average of the Executive’s compensation
including bonuses (but excluding profit sharing contributions) from the Corporation and the Parent Company for his three highest compensation completed calendar years prior to the year during which the Plan Retirement Date occurs. 

1.07 “Normal Retirement Benefit” shall mean an annual benefit payable in fifteen (15) equal installments equal to the greater of:
(a) fifty percent (50%) of the Executive’s Benefit Computation Base, or (b) $150,000. 
 1.08 “Actuarial
Equivalent” shall mean a benefit of equivalent current value to the benefit which could otherwise have been provided to the Executive, computed on the basis of an interest rate of (7.0%) per year. 

1.09 “Disability” or “disability” shall mean that the Executive: (a) is unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (b) is receiving income replacement benefits for a
period of not less than three months under an accident and health plan covering employees of the Company because of any medically determinable physical or mental impairment expected to result in death or expected to last for a continuous period of
not less than 12 months. 
 1.10 “Parent Company” shall mean Hampton Roads Bankshares, Inc. 

ARTICLE TWO 
 2.01
Employment. The Corporation agrees to employ the Executive in such capacity as the Corporation may from time to time determine. The Executive will continue in the employ of the Corporation in such capacity and with such duties and
responsibilities as may be assigned to him, and with such compensation as may be determined from time to time by the Board of Directors of the Corporation. Executive agrees to devote his full time and attention exclusively to the business and
affairs of the Corporation, except during vacation periods and to use his best efforts to furnish faithful and satisfactory services to the Corporation. The Executive further agrees that during the period of his employment pursuant to this Agreement
he will not have any other business affiliations without the approval of the Board of Directors of the Corporation. 
 The supplemental
retirement benefits provided by this Agreement are granted by the Corporation as a fringe benefit and are not part of any salary reduction plan or an arrangement deferring a bonus or a salary increase. The Executive has no option to take any current
payment or bonus in lieu of these salary continuation benefits. 
 ARTICLE THREE 

3.01 Retirement Benefit. The Executive shall receive his Normal Retirement Benefit on the first day of the month following the attainment of his
Plan Retirement Date. 
 3.02 Retirement Death Benefit. The Corporation agrees that if the Executive shall so retire, but shall die
before receiving the fifteen (15) annual payments, it will continue to make such annual payments to such individual or individuals as the Executive may have designated in writing, filed with and been approved by the Corporation, until the
expiration of fifteen (15) years from the date such payments commence. In the absence of any effective designation of beneficiary any such amounts becoming due and payable upon the death of the Executive shall be payable to his duly qualified
executor or administrator. 
 ARTICLE FOUR 
 4.01 Death Prior to Retirement. In the event the Executive should die while actively employed by the Corporation at any time after November 1, 2027 but prior to his retirement from the
Corporation, the Corporation shall pay the greater of [a] the sum of Five Hundred Thousand Dollars ($500,000.00) in equal annual installments of Fifty Thousand Dollars ($50,000.00) for a period of ten (10) years, or [b] the Normal
Retirement Benefit calculated using the Executive’s date of death as the date of his termination of employment with the Corporation, to such individual or individuals as the Executive may have designated in writing, filed with and approved by
the Corporation. The said annual payments shall begin on the first day of the third month following the Executive’s date of death. In the absence of any effective designation of beneficiary by the Executive, any such amounts becoming due and
payable upon the death of the Executive shall be payable to his duly qualified executor or administrator, or, if none shall be appointed, as provided by applicable law. 

  
 2 

 ARTICLE FIVE 
 5. 01 Involuntary Termination. If the Corporation terminates the Executive’s employment prior to his Plan Retirement Date for “Cause”, the Executive Shall not be entitled to any
benefits under the terms of this Agreement. For purposes of this Agreement, “Cause shall mean: 
 (a) deliberate dishonesty
with respect to the Corporation or any subsidiary or affiliate thereof; 
 (b) conviction of a crime involving moral turpitude;
or 
 (c) gross and willful failure to perform a substantial portion of the Executive’s duties and, responsibilities
hereunder, which failure continues for more than thirty days after written notice given to the Executive pursuant to a two-thirds vote of the Board of Directors then in office, such vote set forth in reasonable detail the nature of such failure.

 5.02 Other Termination of Service. The corporation reserves the right to terminate the employment of the Executive at any time prior
to retirement. In the event that the employment of the Executive shall terminate prior to his Plan Retirement Date, other than by his death or his discharge for actions inimical to the Corporate interests, but including his disability, then this
Agreement shall terminate upon the date of such termination of employment and the Corporation shall pay to the Executive as severance compensation the present value (“Actuarial Equivalent”) of his “Accrued Benefit”. This amount
shall be paid to the Executive in a LUMP SUM with the payment due on the first day of the second month following the month in which such severance occurs. 
 5.03 Benefits Payable When An Executive’s Services Are Terminated Following A Change In Control. If the termination of an Executive’s service occurs within twenty-four (24) months
following a Change in Control, then Executive will be entitled to a lump sum payment equal to his (i) Normal Retirement Benefit increased by 50% if he has not attained his Plan Retirement Date, or (ii) the sum of his remaining installment
payments increased by 50% if he has attained his Plan Retirement Date. This amount shall be paid to the Executive on the first day of the second month following the month in which such severance occurs. For example, assume that: (a) the
Executive’s annual benefit is $50,000, (b) he received 5 annual installments under the terms of the plan and (c) the Change in Control occurs before the 6th annual installment. The Executive would be entitled to a lump sum payment of $750,000 which is the sum of the
remaining 10 installments of $50,000 increased by 50%. 
 ARTICLE SIX 
 6.01 Alienability. Neither the Executive, his widow, nor any other beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage,
commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or his
beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, insolvency, or otherwise. In the event the Executive or any beneficiary attempts assignment, commutation, hypothecation, transfer, or disposal of the
benefit hereunder the Corporation’s liabilities shall forthwith cease and terminate. 
 ARTICLE SEVEN 

7.01 Participation in Other Plans. Nothing contained in this Agreement shall be construed to altar, abridge, or in any manner affect the rights
and privileges of the executive to participate in and be covered by any pension, profit-sharing, group insurance, bonus or similar employee plans which the Corporation may now or hereafter have. 

  
 3 

 ARTICLE EIGHT 
 8.01 Funding. The Corporation reserves the absolute right at its sole and exclusive discretion either to fund the obligations of the Corporation undertaken by this agreement or to refrain from
funding the same, and to determine the extent, nature, and method of such funding. Should the Corporation select to fund this Agreement, in whole or in part, through the medium of life insurance or annuities, or both, the Corporation shall be the
owner and beneficiary of the policy. The Corporation reserves the absolute right, in its sole discretion, to terminate such life insurance or annuities, as well as any other funding program, at any time, either in whole or in part. At no time shall
the Executive be deemed to have any right, title or interest in or to any specified asset or assets of the Corporation, including, but not by way of restriction, any insurance or annuity contract or contracts or the proceeds therefrom. 

Any such policy shall not in any way be considered to be security of the performance of the obligations of this Agreement. It shall be, and remain, a
general, unpledged, unrestricted asset of the Corporation. 
 If the Corporation purchases a life insurance or annuity policy on the life of the
Executive, he agrees to sign any papers that may be required for that purpose and to undergo any medical examination or tests which may be necessary. 
 If the Executive is asked to submit information to an insurance company and if the Executive makes a material misrepresentation in an application for any insurance that may be used by the Corporation to
insure any or all of its obligations under this Agreement, and if as a result of that material misrepresentation the insurance company is not required to pay all or any part of the benefits provided under that insurance, the Executive shall forfeit
all rights and benefits payable under this Agreement. 
 8.02 This Article shall not be construed as giving the Executive or his beneficiary any
greater rights than those of any other unsecured creditor of the Corporation. 
 ARTICLE NINE 

9.01 Reorganization. The Corporation shall not merge or consolidate into or with another corporation, or reorganize, or sell substantially all of
its assets to another corporation, firm, or person unless and until such succeeding or continuing corporation, firm, or person agrees to assume and discharge the obligations of the Corporation under this Agreement. Upon the occurrence of such event,
the term “Corporation” as used in this Agreement shall be deemed to refer to such successor or survivor Corporation. 

ARTICLE TEN 
 10.01 Benefits
and Burdens. This Agreement shall be binding upon and inure to the benefit of the Executive and his personal representatives, and the Corporation, and any successor organization which shall succeed to substantially all of either the
Corporation’s assets or its business without regard to the form of such succession. 
 ARTICLE ELEVEN 

11.01 Communications. Any notice or communication required of either party with respect to this Agreement shall be made in writing and may either
be delivered personally or sent by first class mail to: Bank of Hampton Roads, 999 Waterside Dr., Suite 200, Norfolk, VA 23510. Each party shall have the right by written notice to change the place to which any notice may be addressed. 

ARTICLE TWELVE 
 12.01 Not a
Contract of Employment. This Agreement shall not be deemed to constitute a contract of employment between the parties hereto, nor shall any provision hereof restrict the right of the Corporation to discharge the Executive, or restrict the right
of the Executive to terminate his employment. 
 ARTICLE THIRTEEN 
 13.01 Claims Procedure. In the event that benefits under this Plan Agreement are not paid to the Executive (or his beneficiary on the case of the Executive’s death), and such person feel
entitled to receive them, a claim shall be made in writing to the Plan Administrator within sixty (60) days from the date payments are not made. Such claim 

  
 4 

 
shall be reviewed by the Plan Administrator and the Corporation. If the claim is denied, in full or in part, the Plan Administrator shall provide a written notice within ninety (90) days
setting forth the specific reasons for denial, specific reference to the provisions of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim, if any. Also, such written notice shall
indicate the steps to be taken if a review of the denial is desired. 
 If a claim is denied and a review is desired, the Executive (or his
beneficiary in the case of the Executive’s death), shall notify the Plan Administrator in writing within sixty (60) days (and a claim shall be deemed denied if the Plan Administrator does not take any action within the aforesaid ninety
(90) day period). In requesting a review, the Executive or his beneficiary may review this Plan Agreement or any documents relating to it and submit any written issues and comments he or she may feel appropriate. In its sale discretion the Plan
Administrator shall then review the claim and provide a written decision within sixty (60) days. This decision likewise shall state the specific reason for the decision and shall include reference to specific provisions of this Plan Agreement
on which the decision is based. 
 For purposes of implementing this claims procedure (but not for any other purpose),
(                    ) is hereby designated as the Named Fiduciary and Plan Administrator of this Plan Agreement. 

ARTICLE FOURTEEN 
 14.01 This
agreement shall be construed in accordance with and governed by the laws of the Commonwealth of Virginia. 
 ARTICLE FIFTEEN

 15.01 Compliance with Section 409A of the Internal Revenue Code (“Code”). Any benefit, payment or other right provided
by the Plan shall be provided or made in a manner, and at such time, in such form and subject to such election procedures (if any), as complies with the applicable requirements of Code Section 409A(a)(1), including without limitation, deferring
payment until the occurrence of a specified payment event described in Code Section 409A(a)(2). Notwithstanding any other provision hereof or document pertaining hereto, the Plan shall be so construed and interpreted to meet the applicable
requirements of Code Section 409A to avoid a plan failure described in Code Section 409A(a)(1). 
 15.02 Delay in
Distributions. To the extent required by Section 409A of the Code, in the event the Executive is a “specified employee” as provided in Section 409A(a)(2)(b)(i) on his date of termination from employment, any amounts payable
hereunder shall be paid no earlier than the first business day after the six month anniversary of the date of termination. Whether the Executive is a specified employee and whether an amount payable to the Executive hereunder is subject to
Section 409A of the Code shall be determined by the Company. 
 15.03 Anti-Acceleration. The Company shall not accelerate the time
over which payments shall be made to the Executive; provided, however, the Company, in its discretion, may accelerate payments under the Plan in accordance with each of the payment events contained in Treasury Regulation section 1.409A-3(j)(4)(ii)
through (xiv). 
 ARTICLE SIXTEEN 
 16.01 For purposes of this Article 16, a parachute payment is defined in Q&A 3 of Notice 2008-TAAP as any payment in the nature of compensation paid on account of an applicable severance of
employment to the extent that the aggregate present value of such payments equals or exceeds an amount equal to three times the base amount. A parachute payment shall be interpreted in a manner that is consistent with Notice 2008-TAAP, Notice
2008-94 and all other current or future guidance issued pursuant to Section 111(b)(2)(C) of EESA or Section 280G(e) of the Internal Revenue Code of 1986, as amended (“Code”). 

  
 5 

 16.02 To the extent that any payment under the Agreement would be forfeited as a prohibited parachute
payment under Section 111(b)(2)(C) of EESA, the Bank agrees to pay the Executive an additional payment equal to the forfeited payment plus one dollar, on July 1, 2012, or if later, the earliest date when Section 111(b)(2)(C) of EESA
no longer prohibits such payment. Such payment shall be made in a single lump sum in cash, without interest. The Executive may be entitled to severance payments from multiple agreements and plans. The Bank, it its sole discretion, shall determine
which payments shall be delayed. Notwithstanding anything in this paragraph to the contrary, the additional amounts due under the Agreement shall not be paid if the Treasury Department or other governmental agency issues guidance subsequent to the
date of the Agreement that would prohibit such payment. 
 ARTICLE SEVENTEEN 

17. Forfeiture of Benefits. Notwithstanding any provision of this Agreement, the Bank and Executive hereby agree that any payment or Gross-Up,
including but not limited to payments pursuant to Section 5.03 of the Agreement, that may otherwise be paid under the “change in control” provisions of this Agreement as a result of the Transaction, as such term is defined below,
shall be forfeited and such provision shall be null and void. The Bank in its sole and absolute discretion shall determine which payments are required to be forfeited to comply with the Investor Requirement. Moreover, the Bank and the Executive
hereby agree that any provision accelerating payment or benefits under the “change in control” provisions as a result from the Transaction shall be null and void. For the purposes of this Article 17, the term “Transaction” shall
mean the transactions contemplated by the Transaction Documents, as such term is defined in that certain investment agreement dated August 11, 2010, by and between Hampton Roads Bankshares, Inc., Carlyle Global Financial Services Partners, L.P.
and ACMO-HR, L.L.C. 

  
 6 

 IN WITNESS WHEREOF, the Corporation has caused this Agreement to be duly executed and its
corporate seal affixed, duly attested by its Secretary, and the Executive has hereunto sat his hand and seal at Norfolk, Virginia, the day and year first above written. 

 

			
	THE BANK OF HAMPTON ROADS
		
	By:	 	/s/ Emil A. Viola
		 	Emil A. Viola, Chairman

  

	
	ATTEST:
	
	/s/ Tiffany K. Glenn
	Tiffany K. Glenn, Secretary

  

	
	EXECUTIVE:
	
	/s/ Douglas J. Glenn
	Douglas J. Glenn

  

			
	Acknowledged and Affirmed:
	
	HAMPTON ROADS BANKSHARES, INC.
		
	By:	 	/s/ Emil A. Viola
		 	Emil A. Viola, Chairman

  

	
	ATTEST:
	
	/s/ Tiffany K. Glenn
	Tiffany K. Glenn, Secretary

  
 7

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