Document:

Exhibit

        
Exhibit 10.17
Union Bankshares Corporation
Management Incentive Plan

This document (the “Incentive Document”), together with the Union Bankshares Corporation Incentive Plan Terms and Conditions (“T&C”) which are incorporated herein by reference, sets forth the Union Bankshares Corporation Management Incentive Plan (collectively, the “Plan”).  The Plan is offered by Union Bankshares Corporation (“UNION”), its subsidiary Union Bank & Trust (the “Bank”), to the undersigned eligible executive (the “Participant”). 

1.      Eligible Positions; Participation

Participation is limited to those executives recommended by the Chief Executive Officer (the “Plan Sponsor”) and approved by the Committee.  The Committee shall retain the discretion to include as a Participant any otherwise-eligible executive hired or promoted after the commencement of a Plan Year.   

2.    Basis of Incentive Compensation Awards

The Plan is a cash award plan.  The Participant’s incentive compensation award under the Plan is based on an incentive target that is approved at the beginning of the Plan Year by the Committee in its discretion.  The incentive compensation award is expressed as a percentage of the Participant’s base salary at the end of the Plan Year, and may be awarded if either or both the UNION corporate performance goals (the “Corporate Goals”) and the Participant’s individual performance goals (the “Individual Goals”) are achieved.    In no event shall a Participant receive payment under the Plan that exceeds 150% of the Participant’s base salary as of the end of the Plan Year.

3.    Plan Details

The amount of an incentive compensation award that the Participant is entitled to receive under the Plan is determined based on the Participant’s incentive target and weighting and achievement of the approved performance goals.  The performance period for achievement of any performance goal(s) is the Plan Year.  

A.    Award Targets and Weightings

Each Participant shall be assigned an incentive target, calculated as a percentage of the Participant’s base salary, which may be awarded if UNION and the Participant achieve targeted performance goals.  

The incentive compensation award shall be weighted between Corporate Goals and Individual Goals.  The weightings for the two goal categories shall be recommended by the Plan Sponsor and approved by the Committee.  Threshold, target and superior achievement levels for each Corporate Goal will be recommended by the Plan Sponsor and approved by the Committee.  The payout for the threshold achievement level will be not less than 10% of the target payout, and the payout for the superior achievement level will be not more than 150% of the target payout.    

 B.    Corporate Goals

The Corporate Goals for the Plan Year will be recommended by the Plan Sponsor and approved by the Committee.  

C.    Individual Goals

Individual Goals for the Plan Year will be established for the Participant in conjunction with his or her direct supervisor and approved by the Committee (or its delegee).
 
D.    Determination of Incentive Compensation Award

Following the end of the Plan Year, the Committee will review performance against the Corporate Goals and any Individual Goals established for the Participant, certify in writing that the applicable performance goals were satisfied, and determine the amount of the incentive compensation award, if any, to be paid to each Participant under the Plan.  Notwithstanding any provision of the Plan to the contrary, in making this determination, the Committee may, in its discretion, in light of such considerations as it may deem relevant, increase or decrease an incentive compensation award to which a Participant would otherwise be entitled by such amount or percentage as the Committee deems appropriate.  

Unless the Committee deems otherwise, an incentive compensation award will not be earned or paid, regardless of Corporate or Individual performance, if 1) any regulatory agency issues a formal, written enforcement action, memorandum of understanding or other negative directive action to UNION or the Bank and where the Committee considers it imprudent to provide awards under the Plan, or 2) if after a review of the Bank’s credit quality measures the Committee considers it imprudent to provide awards under the Plan.  

A sample incentive compensation award calculation is set forth on the attached Appendix A.

4.    Payment of Awards

An incentive compensation award under the Plan will be calculated and paid in cash on an annual basis.  Payment of any incentive compensation award, less deferrals and applicable federal, state and local taxes, will be made as soon as practicable following the end of the Plan Year (the “Payment Date”), but in no event before certification of the Committee or later than March 15th following the end of the Plan Year. 

APPENDIX A

[omitted]

Union Bankshares Corporation 
Incentive Plan Terms & Conditions

The terms and conditions (“T&C”) set forth herein apply to, are an integral part of and are incorporated into the cash incentive plan document (the “Incentive Document”) to which the T&C are attached.  Collectively, the T&C and the Incentive Document constitute the “Plan.” Capitalized terms used but not defined in the T&C have the meaning assigned to them in the Incentive Document, unless the T&C provides, or the context requires, otherwise. 

1.        Purpose 

The purpose of the Plan is to reward the performance of the Participants in a manner that is consistent with UNION’s strategic plan and the attainment of a growing return to the shareholders of UNION.  The Plan is further intended to assist UNION and the Bank in their ability to motivate, attract and retain qualified teammates. 

2.    Effective Date

The Plan is in effect January 1, 2019 through December 31, 2019, and will continue to renew for successive one-year periods (each calendar year being a “Plan Year”) unless otherwise terminated or modified in accordance with the Plan.
 
3.      Eligibility

A teammate who is hired into an eligible position, as defined within the Incentive Document, subsequent to the commencement of the Plan Year may be deemed eligible by the Compensation Committee (the “Committee”) of the UNION Board of Directors (the “Board”) (or its delegee) for participation in the Plan, in the Committee’s discretion (or in the delegee’s discretion). The Plan Sponsor will recommend to the Committee (or its delegee) the terms and conditions upon which such employee may participate during his or her partial year of eligibility.

A Participant who transfers into or out of an eligible position with UNION or the Bank during the Plan Year, will be treated for purposes of eligibility as being in the position they hold on December 31st of the Plan Year. The Plan Sponsor will recommend to the Committee (or its delegee) the terms and conditions upon which such employee may participate during his or her partial year of eligibility.

For a Participant who is on a performance improvement plan or similar counseling or performance document, the Plan Sponsor, following consultation with the Chief Human Resources Officer, may, in his or her discretion, modify the incentive to result in a zero or reduced award unless and until the Participant’s manager documents in writing that the Participant is performing at an appropriate level to be eligible for the incentive compensation.

No Participant will be eligible to participate in other short-term, annual cash incentive plans or programs offered by UNION or the Bank while he or she is a Participant in the Plan.

4.    Active Participation

In the event, during the Plan Year, of the Participant’s death, permanent disability (as determined by the Committee in its discretion) or retirement at or after age 65 (each, an “Early Termination Event”), any incentive compensation award shall be based on performance for the Plan Year, but prorated through the end of the month in which the Early Termination Event occurs and shall be paid at the same time as would be otherwise due under the Plan, but in no event later than March 15th following the end of the Plan Year. 

In the event the Participant’s employment ceases prior to the payment of any incentive compensation award under the Plan for any reason other than an Early Termination Event, including, without limitation, a voluntary termination of employment by the Participant, or an involuntary termination with or without cause, the Participant shall not be entitled to, and shall not have earned, any incentive compensation award under the Plan.

5.    Administration

Responsibility for the administration of the Plan rests with its Plan Sponsor and/or the Chief Human Resources Officer.  The Plan Sponsor shall monitor for accuracy the performance reporting of the Participant and determine the amount of a Participant’s award, if any, under the Plan.  In addition, the Committee, and ultimately the Board, is responsible for the overall oversight, supervision and existence of the Plan.  The Committee has been delegated the sole discretion to interpret the terms of the Plan and to determine whether an individual is eligible to participate in the Plan.  The Committee shall also be empowered to make any and all of the determinations not herein specifically authorized which may be necessary or desirable for the effective administration of the Plan. 

Notwithstanding any provision to the contrary contained in the Plan, no incentive compensation award is earned until paid, and the Committee, may withhold (as not earned) or adjust any incentive compensation award in its sole discretion as it deems appropriate and will notify the Participants of its decision to withhold or adjust the Participant’s incentive compensation award.

Any decision or interpretation of any provision of the Plans adopted by the Committee shall be final and conclusive.    

6.    Modification and Termination of the Plans 

The Plans may be modified or changed at any time by the Committee (or its delegee) in its discretion, followed by written notification to the Participant as soon as reasonably practicable.  The Plan may be terminated at any time by the Committee in its discretion, followed by written notification to the Participant as soon as reasonably practicable.  In the event of a Plan termination, a Participant shall continue to be eligible for incentive compensation awards for the Plan Year prorated through the Plan’s termination date, unless the Committee determines in its discretion that no incentive compensation should be paid.   Any incentive compensation awards shall be calculated through the date of the Plan termination on such basis as the Committee  deems appropriate in its discretion and will be payable as soon as practicable after the termination of the Plan but in no event later than March 15th following the end of the Plan Year in which the termination occurs.

7.    Participant Rights Not Assignable; Plan not a Contract

Any award made pursuant to the Plan shall not be subject to assignment, pledge or other disposition, nor shall such amounts be subject to garnishment, attachment, transfer by operation of law, or any legal process.  Nothing contained in the Plan shall affect an employee’s at-will status or confer upon any employee any right to continued employment or to receive or continue to receive any rate of pay or other compensation, nor does the Plan affect the right of UNION or the Bank to terminate a Participant’s employment.  Participation in the Plan does not confer rights to participation in other UNION or Bank programs or plans, including annual or long-term incentive plans or non-qualified retirement or deferred compensation plans.

8.    Ethical Statement 

The Participant is subject to UNION’s Code of Business Conduct and Ethics.  Any violation of this Code or any other policy of UNION or the Bank, or any breach by the Participant of the provisions of the Plan, as determined by the Committee (or its delegee) in its sole discretion, may result in a reduction of or ineligibility from payments under the Plan and disciplinary action up to and including termination.  

The Plan is designed to promote honest and ethical conduct.  On occasion, acting in the best interests of clients, customers, the Bank and/or UNION may not result in the maximum incentive payout for the Participant.  Participants must never let potential incentive payments dictate their actions or conduct in disregard of established banking practices, policies and procedures. Any action or conduct performed by the Participant or at the Participant’s direction for the sole purpose of earning an incentive may result in disciplinary action up to and including termination.

9.    Governing Law and Venue

The parties agree that the interpretation and enforcement of the Plan shall be governed by the laws of the Commonwealth of Virginia, and that any action to enforce or determine any rights under the Plan shall be brought exclusively in the Circuit Court of Caroline County, Virginia or the applicable federal court in Richmond, Virginia, at the option of UNION and/or the Bank.  The Participant consents and waives any objection to personal jurisdiction and venue in such court.  The Plan, and any payments thereunder, shall not be subject to the Employee Retirement Income Security Act.  

10.    Attorney’s Fees and Costs

The parties agree that in the event of any legal action arising out of or relating to the interpretation or enforcement of the Plan, UNION and the Bank shall be entitled to recover their attorney’s fees and costs in the event that they are (or any of them is) the prevailing party.  

11.    No Oral or Written Representations

The parties agree that the terms of the Plan are set forth solely in the T&C and the Incentive Document and the T&C and the Incentive Document collectively constitute the Plan.  The Plan constitutes the complete and entire agreement of the parties relating to the subject matter thereof.  The parties have relied on no oral or written representation or promises not set forth in the Plan.

12.    Clawback

A Participant, while employed by UNION or the Bank and in the conduct of his or her duties as an employee, shall not expose UNION or the Bank to any unreasonable or unnecessary risk.  All incentive compensation awards under the Plans are subject to the terms of UNION’s Compensation Clawback Policy or similar policy as such may be in effect from time to time, as well as any similar provisions of applicable federal law or regulation and any applicable listing standard of the national securities exchange on which UNION’s common stock is listed, which could in certain circumstances require repayment of an incentive compensation award or portion thereof.  

13.    Banking Regulatory Provision

All incentive compensation awards under the Plan are subject to any condition, limitation or prohibition under any financial institution regulatory policy or rule to which UNION or the Bank is subject.  

14.    Severability

In the event one or more of the provisions of the Plan shall for any reason be held to be illegal or unenforceable, the remaining provisions of the Plan shall remain in full force and effect.Exhibit

Exhibit 10.24

SEPARATION AGREEMENT
THIS SEPARATION AGREEMENT (this "Agreement") is entered into among MICHAEL W. CLARKE (the "Executive"), ACCESS NATIONAL CORPORATION (the "Company") and ACCESS NATIONAL BANK, (the "Bank" and together with the Company, the "Employer"), to be effective immediately before the occurrence of the Effective Time (as defined in the Agreement and Plan of Reorganization dated October 4, 2018 (the "Merger Agreement") by and between the Company and Union Bankshares Corporation ("Union")). If the Effective Time does not occur, this Agreement shall be null and void ab initio and of no further force and effect. All capitalized terms that are not defined in this Agreement shall have the meanings ascribed to such terms in the Employment Agreement (as defined below).
WITNESSETH:
WHEREAS, the Employer and the Executive have agreed that Executive's employment under the Employment Agreement between the Executive and the Employer dated August 8, 2017 (the "Employment Agreement") with the Employer will terminate effective immediately before the Effective Time and that such termination of employment shall be a termination by the Employer without Cause (as defined in the Employment Agreement); and
WHEREAS, the Employment Agreement provides upon such a termination that certain severance benefits shall be payable upon Executive signing and not revoking a general release; and
WHEREAS, Union is executing this Agreement to evidence its acceptance of the terms of this Agreement as a successor to the Employer.
NOW, THEREFORE, in consideration of the premises and mutual covenants contained in this Agreement, the Employer and the Executive, intending to be legally bound hereby, mutually agree as follows:
1.Separation Date. The Executive's employment with the Employer under the Employment Agreement shall terminate effective immediately before the Effective Time. The termination of the Executive's employment shall be a termination by the Employer without Cause (as defined in the Employment Agreement). The date on which the Executive's employment under the Employment Agreement terminates is referred to in this Agreement as the "Separation Date." The Executive shall be entitled to receive the Separation Benefits (as defined below) in accordance with Section 5 of this Agreement.
2.Accrued Obligations: Benefits. On the first regular payroll date following the fifth business day after the Separation Date, the Employer (or its successors) will pay the Executive, to the extent not previously paid (i) any unpaid Base Salary through the Separation Date; (ii) any 

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incentive or annual bonus compensation earned during the calendar year preceding the calendar year in which the Separation Date occurs, but not yet paid as of the Separation Date; and (iii) any accrued but unused paid-time off or vacation entitlement in accordance with the terms of the Employer's policies. On and after the Separation Date, the Executive shall be entitled to receive benefits or awards vested, due and owing pursuant to the terms of any other plans, policies or programs of the Employer, payable when otherwise due.

3.    Equity Awards. The Executive's rights with respect to any options to purchase Company common stock held by the Executive and outstanding at the Effective Time shall be governed by the terms of the applicable equity plan, award agreement and the Merger Agreement.
4.    Expenses. The Executive agrees that, within seven business days after the Separation Date, the Executive will submit to the Employer (or its successors) all requests for payment of reimbursable business expenses incurred on or before the Separation Date. To the extent not previously paid, and to the extent reimbursable under the expense reimbursement policy of the Company or the Bank, such expenses shall be paid promptly to the Executive in accordance with such policy.
5.    Separation Benefits. If the Executive satisfies the requirements of Section 6 of this Agreement, the Employer (or its successors) will pay the Executive the amounts described in Section 5(a) below:
(a)The Executive will receive a single cash payment (the "Separation Benefits") equal to the sum of (i) the cash separation payment due under Section 8(a)(i) of the Employment Agreement, which is equal to 2.75 times the average of the Executive's compensation as reported in Box 1 of the Form W-2 over the five calendar years immediately preceding the calendar year in which the Separation Date occurs and (ii) an amount representing the accelerated, lump sum value of the continuation of health benefits under Section 8(a)(ii) of the Employment Agreement for 12 months following the Separation Date. The Separation Benefits will be paid to the Executive no later than the first regular payroll date following the fifth business day after the Release Effective Date (as defined in Section 6 of this Agreement), and in all cases by March 15 of the year following the year in which the Separation Date occurs.
(b)If the Executive dies on or after the Separation Date and before payment of all of the Separation Benefits, then any unpaid Separation Benefits shall be paid to the Executive's spouse, if the spouse survives the Executive, or, if not, the Executive's estate; provided, however, that if the Executive dies before the Release Effective Date, then the unpaid Separation Benefits will not be paid until the spouse or estate, as applicable, has executed the Release on behalf of the Executive and the Release has become effective and irrevocable.

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(c)Except as specifically provided in Sections 2, 3, 4 or 5, Executive shall not be entitled to any additional compensation or benefits from the Employer (or its successor) in connection with his employment with the Employer or termination therefrom.
6.    Release. The Employer's obligation to pay or provide the Separation Benefits is conditioned upon the Executive's execution of the Release attached hereto as Exhibit A (the "Release") and the Release becoming effective and irrevocable within the period set forth in the Release. The date on which the Release becomes effective and irrevocable is referred to in this Agreement as the "Release Effective Date."
7.    Section 280G: Potential Recoupment.
(a)    The Executive acknowledges and agrees that the Separation Benefits and accelerated vesting of equity awards previously granted to the Executive constitute payments of compensation contingent upon a "change in control" of the Company under Section 280G of the Internal Revenue Code of 1986, as amended (the "Code"). The Separation Benefits, accelerated vesting of equity awards and any other compensation that is subject to Code Section 280G are referred to in this Agreement as "Parachute Payments". The Executive further acknowledges and agrees that the provisions of Section 10(b) of the Employment Agreement (280G Cutback) shall remain in effect in accordance with its terms following the Separation Date, notwithstanding the termination of the Employment Agreement.
(b)    To the extent any Parachute Payments paid to the Executive would constitute an "excess parachute payment" within the meaning of Code Section 280G, thereby resulting in a loss of an income tax deduction by the Employer under Code Section 280G or the imposition of an excise tax on the Executive under Code Section 4999, Executive agrees to promptly repay to the Employer (or its successor) all amounts in excess of the maximum amount that may be paid or retained by Executive without causing the loss of such income tax deduction or the imposition of such excise tax on the Executive. The independent accountants serving as auditors for the Employer (or its successor) shall determine, at the Employer's expense, whether any Parachute Payment would constitute an "excess parachute payment" for purposes of this Section 7(b), and such determination shall be subject to review by the parties to this Agreement and any final determination will be binding on the parties to this Agreement. If repayment is required under this Section 7(b), then the Parachute Payments to be repaid shall be determined in accordance with the provisions of Section 10(b) of the Employment Agreement.
8.Tax Withholdings. All payments that are made pursuant to this Agreement shall be reduced by withholdings for applicable income and employment taxes.
9.Restrictive Covenants. The Executive acknowledges and agrees that the obligations, covenants and other terms (collectively, the "Covenants") set forth in Section 8(b) (Non-Competition), Section 8(c) (Non-Piracy), Section 8(d) (Non-Solicitation), Section 8(f) 

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(Remedies), Section 8(g) (Breach Does Not Excuse Performance), and Section 9 (Confidentiality) of the Employment Agreement shall continue to apply to the Executive in accordance with their terms, notwithstanding the termination of the Employment Agreement. The Executive hereby agrees to comply with the Covenants; provided that, references to the "Company" in the Covenants shall be deemed to be references to the Employer and Union and its affiliates. The Executive acknowledges and agrees that the Executive's right to receive the Separation Benefits provides sufficient consideration in exchange for the Executive's obligation to comply with the Covenants.
10.Termination of Employment Agreement: Survival. The Employer and the Executive agree that the following provisions of the Employment Agreement shall remain in effect in accordance with their terms, notwithstanding the termination of the Employment Agreement, and shall apply to this Agreement as if fully set forth herein: Section 4(d) (Clawback); Section 11 (Documents); Section 12 (Severability); Section 13 (Governing Law/Venue); Section 16 (Binding Effect); Section 17 (No Construction Against Any Party); Section 18 (Code Section 409A Compliance); Section 19 (Regulatory Limitation); Section 20 (Arbitration Disputes); and Section 22 (Survivability). Except (i) as expressly provided in Section 7, Section 9 or Section 10 of this Agreement, and (ii) with respect to definitions used in this Agreement that refer to the corresponding definition from the Employment Agreement, the Employment Agreement shall terminate on the Separation Date. This Agreement does not affect or impair the Executive's rights under the Merger Agreement.
11.Entire Agreement: Amendment. This Agreement and the Release contain the entire agreement between the Employer and the Executive with respect to the termination of the Executive's employment with the Employer. This Agreement and the Release may not be amended, waived, changed, modified or discharged except by an instrument in writing executed by the Company, the Bank and the Executive.
12.Binding Agreement: Successors. This Agreement shall be binding upon and inure to the benefit of the Executive and the Executive's heirs, executors, administrators and legal representatives. This Agreement shall be binding upon and inure to the benefit of the Employer and the Employer's successors, including, but not limited to, Union Bankshares Corporation and Union Bank & Trust.
13.No Mitigation. The Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for in this Agreement be reduced by any compensation earned by the Executive as the result of employment with another employer or by retirement benefits payable to the Executive.
14.Severability. If any provision of this Agreement, or part thereof, is determined to be unenforceable for any reason whatsoever, it shall be severable from the remainder of this 

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Agreement and shall not invalidate or affect the other provisions of this Agreement, which shall remain in full force and effect and shall be enforceable according to their terms. No covenant shall be dependent upon any other covenant or provision herein, each of which stands independently.
15.Union Bankshares Corporation Acceptance. Union Bankshares Corporation is executing this Agreement to evidence its acceptance of the terms of this Agreement as a successor to the Employer.
16.Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.
17.No Right to Rehire. The Executive agrees that the Employer (including its successor) has no obligation, contractual or otherwise, to rehire, reemploy or recall Executive in the future.
Signature Block on Next Page

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

	
		
	 
	ACCESS NATIONAL CORPORATION

	 
	 

	 Date:  January 31, 2019
	By: /s/ Robert C. Shoemaker

	 
	Its: EVP

	
		
	 
	ACCESS NATIONAL BANK

	 
	 

	 Date:  January 31, 2019
	By: /s/ Robert C. Shoemaker

	 
	Its: EVP

	
		
	 
	EXECUTIVE

	 
	 

	 Date:  January 31, 2019
	/s/ Michael W. Clarke

	 
	

	
		
	Agreed and Accepted: 
	 

	 
	 

	UNION BANKSHARES CORPORATION

	 

	 
	 

	 
	 

	By: /s/ Loreen A. Lagatta

	 

	Name: Loreen A. Lagatta
	

	Title: EVP & Chief Human Resource Officer  
	 

	Date: January 31, 2019

	 

	 
	 

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EXHIBIT A
RELEASE
In consideration of the benefits promised in the Separation Agreement referenced below, Michael W. Clarke ("Employee"), hereby irrevocably and unconditionally releases, acquits and forever discharges Access National Corporation, Access National Bank (together with Access National Corporation, the "Employer"), Union Bankshares Corporation and Union Bank & Trust, and each of their respective current, former, or future agents, directors, members, shareholders, affiliated entities, predecessors, successors, assigns, officers, employees, attorneys and all persons acting by, though, under or in concert with any of them (collectively "Releasees") from any and all charges, complaints, claims, liabilities, grievances, obligations, promises, agreements, controversies, damages, policies, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses of any nature whatsoever, known or unknown, suspected or unsuspected, including, but not limited to, any rights arising out of alleged violations or breaches of any contracts, express or implied, or any tort, or any legal restrictions on Releasees' right to terminate employees, or any federal, state or other governmental statute, regulation, law or ordinance, including without limitation (1) Title VII of the Civil Rights Act of 1964, as amended by the Civil Rights Act of 1991; (2) the Americans with Disabilities Act; (3) 42 U.S.C. § 1981; (4) the federal Age Discrimination in Employment Act (age discrimination); (5) the Older Workers Benefit Protection Act; (6) the Equal Pay Act; (7) the Family and Medical Leave Act; and (8) the Employee Retirement Income Security Act ("ERISA"), which Employee now has, owns or holds, or claims to have, own or hold, or which Employee at any time heretofore had owned or held, or claimed to have owned or held, against each or any of the Releasees at any time up to and including the date of the execution of this Release.
Employee hereby acknowledges and agrees that the execution of this Release and the cessation of Employee's employment and all actions taken in connection therewith are in compliance with the federal Age Discrimination in Employment Act and the Older Workers Benefit Protection Act and that the releases set forth above shall be applicable, without limitation, to any claims brought under these Acts. Employee further acknowledges and agrees that:
a.The Release given by Employee is given solely in exchange for the benefits set forth in the Separation Agreement among Access National Corporation, Access National Bank and Employee, to be effective immediately before the occurrence of the Effective Time (as defined in the Agreement and Plan of Reorganization dated October 4, 2018, by and between Access National Corporation and Union Bankshares Corporation), and such consideration is in addition to anything of value which Employee was entitled to receive prior to entering into this Release;
b.By entering into this Release, Employee does not waive rights or claims that may arise after the date this Release is executed;

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c.Employee has been advised to consult an attorney prior to entering into this Release, and this provision of the Release satisfies the requirements of the Older Workers Benefit Protection Act that Employee be so advised in writing;
d.Employee has been offered twenty-one (21) days from receipt of this Release within which to consider whether to sign this Release; and
e.For a period of seven (7) days following Employee's execution of this Release, Employee may revoke this Release by delivering the revocation to an Access National Corporation or Access National Bank officer. This Release, to the extent not revoked by Employee during such seven day period, shall become effective and enforceable upon the expiration of such seven day period.
This Release shall be binding upon the heirs and personal representatives of Employee and shall inure to the benefit of the successors and assigns of Access National Corporation and Access National Bank, including Union Bankshares Corporation and Union Bank & Trust.
PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.
Please indicate your acceptance of the terms of this Release by signing your name in the space provided below.

	
		
	 
	 

	February 1, 2019
	/s/ Michael W. Clarke

	Date
	Michael W. Clarke

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