Document:

<PAGE>

                                                                   Exhibit 4(v)

                      FOURTH AMENDMENT TO CREDIT AGREEMENT

     THIS FOURTH AMENDMENT TO CREDIT AGREEMENT, dated as of the 23rd day of
March, 2001 (this "Amendment"), is made among MARKEL NORTH AMERICA, INC., a
Virginia corporation formerly known as Markel Corporation (the "Borrower"),
MARKEL CORPORATION, a Virginia corporation formerly known as Markel Holdings,
Inc. ("Holdings"), the banks and financial institutions listed on the signature
pages thereof or that became parties thereto after the date thereof
(collectively the "Lenders"), and FIRST UNION NATIONAL BANK (the "Agent").

                                    RECITALS

     A.  The Borrower, Holdings, the Agent and the Lenders are parties to a
Credit Agreement, dated as of December 21, 1999 (as three times amended by
Amendments, dated February 4, 2000, March 17, 2000 and August 3, 2000, the
"Credit Agreement"), providing for the availability of a revolving credit
facility to the Borrower upon the terms and conditions set forth therein.
Capitalized terms used herein without definition shall have the meanings given
to them in the Credit Agreement.

     B.  The Borrower has notified the Agent that it intends to undertake a
corporate reorganization pursuant to which, among other things, the following
shall occur (the "Reorganization"): (i) the Target will create a new holding
company Subsidiary, (ii) Terra Nova UK shall transfer the Capital Stock of most
of its Subsidiaries to the Target which shall then contribute such capital stock
to its new holding company Subsidiary, and (iii) the Target shall transfer the
Capital Stock of Terra Nova UK to Holdings so that Terra Nova UK shall be a
direct Subsidiary of Holdings.

     C.  The Borrower has requested that the Agent and the Lenders agree to
amend the Credit Agreement (1) to treat, for purposes of the representations,
warranties, covenants and other terms of the Credit Agreement, Terra Nova UK and
its Subsidiaries after the Reorganization as if they are Subsidiaries of the
Target, and (2) to make certain amendments to the Credit Agreement. The Borrower
also desires to prepay in part the Loans and terminate in part the Commitments.
The Agent and the Lenders are willing to make the amendments set forth herein in
accordance with the terms hereof.

                             STATEMENT OF AGREEMENT

     NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

                                    ARTICLE 1

                   AMENDMENTS EFFECTIVE AS OF THE DATE HEREOF

     1.1 Definitions.

<PAGE>

     (a)   New Definitions. Section 1.1 of the Credit Agreement is hereby
amended by inserting the following definitions of "Fourth Amendment," "Fourth
Amendment Date" and "Rating Agencies" in appropriate alphabetical order:

                 "Fitch" shall mean Fitch, Inc. and any successor thereto.

                 "Fourth Amendment" shall mean the Fourth Amendment to Credit
           Agreement, dated as of March ___, 2001. between the Borrower,
           Holdings, the Agent and the Lenders.

                 "Fourth Amendment Date" shall mean the date of the Fourth
           Amendment.

                 "Rating Agencies" shall mean Standard & Poor's, Fitch and
           Moody's.

     (b)   Deleted Definition. The definition of Duff & Phelps is deleted in its
entirety.

     (c)   Available Dividend Amount. The definition of "Available Dividend
Amount" shall be amended and restated as follows:

                 "Available Dividend Amount" shall mean, with respect to any
           U.S. Insurance Subsidiary for any fiscal year, the aggregate maximum
           amount of dividends that is permitted by the Insurance Regulatory
           Authority of its jurisdiction of domicile, under Applicable Law
           (without the necessity of any consent, approval or other action of
           such Insurance Regulatory Authority involving the granting of
           permission or the exercise of discretion by such Insurance Regulatory
           Authority), to be paid by such U.S. Insurance Subsidiary to the
           Borrower or another Subsidiary of the Borrower during such fiscal
           year (whether or not any such dividends are actually paid).

     (d)   Statutory Capital and Surplus. The definition of "Statutory Capital
and Surplus" shall be amended and restated as follows:

                 "Statutory Capital and Surplus" shall mean, as to any Insurance
           Subsidiary, the "surplus as regards policyholders" as of the end of
           each of its fiscal quarters, as reported on line 27, column 1, page 3
           of the Annual Statement of such Insurance Subsidiary in the case of
           calculations made as of the last day of any fiscal year of such
           Insurance Subsidiary (or, with respect to any Insurance Subsidiary
           that is not a U.S. Insurance Subsidiary, such other line, column or
           page of the Annual Statement as appropriate), or as determined in a
           consistent manner for any date other than one of which an Annual
           Statement is prepared.

     1.2   Target and its Subsidiaries. Notwithstanding the fact that after the
consummation of the Reorganization Terra Nova UK and its Subsidiaries will not
be a Subsidiaries of the

                                        2

<PAGE>

Target, Terra Nova UK and its Subsidiaries shall be deemed to be Subsidiaries of
the Target for purposes of this Credit Agreement.

     1.3 Leverage Ratio. Section 6.1 of the Credit Agreement is hereby amended
and restated as follows:

                6.1 Leverage Ratio. The Parent will not permit the Leverage
         Ratio to be greater than, as of any date on or after the Fourth
         Amendment Date, 0.40 to 1.00; provided, however, that if on any date,
         the Borrower's senior unsecured debt rating by two Rating Agencies is
         BBB-/Baa3 (as applicable) or lower, the Leverage Ratio shall not be
         greater than 0.375 to 1.00 (but if at any time during the 90 days
         immediately preceding such date, the Borrower's senior unsecured debt
         rating by two Rating Agencies was BBB/Baa2 (as applicable) or higher,
         the Leverage Ratio may be greater than 0.375 to 1.00 but not greater
         than 0.40 to 1.00); provided further, however, that, if after the
         Fourth Amendment Date the Borrower has never maintained a senior
         unsecured debt rating by two Rating Agencies of BBB/Baa2 (as
         applicable) or higher, the Leverage Ratio may be greater than 0.375 to
         1.00 but not greater than 0.40 to 1.00 for a period of not greater than
         90 days if the increase in the Leverage Ratio is on account of the
         incurrence of new Permitted Indebtedness by the Parent or one of its
         Subsidiaries. Nothing in this Section 6.1 shall be deemed to allow the
         Leverage Ratio to be greater than 0.40 to 1.00 at any time. If, on any
         date, any Rating Agency does not provide a senior unsecured debt rating
         of the Borrower, for purposes of this Section 6.1, its senior unsecured
         debt rating of the Borrower as of such date shall be the senior
         unsecured debt rating of Holdings. If, on any date, any Rating Agency
         does not provide a senior unsecured debt rating of the Borrower or
         Holdings, its senior unsecured debt rating of the Borrower as of such
         date shall be deemed to be BBB-/Baa3.

     1.4 Interest Coverage Ratio. Section 6.2 of the Credit Agreement is hereby
deleted in its entirety and the following is substituted therefor: "6.2
[Intentionally Omitted]."

     1.5 Debt Service Reserve and Interest Reserve. Sections 6.3 and 6.4 of the
Credit Agreement are hereby amended by deleting the references to "two (2)"
therein and replacing such reference with "one and one-half (1.5)".

     1.6 Statutory Capital and Surplus. Section 6.5 of the Credit Agreement is
hereby amended and restated as follows:

                6.5 Statutory Capital and Surplus. The Borrower and Holdings
         will not permit the aggregate Statutory Capital and Surplus of the
         Insurance Subsidiaries to be less than (i) at any time from and
         including the Fourth Amendment Date to and including

                                        3

<PAGE>

            December 31, 2001, $509,185,070, and (ii) at any time thereafter,
            the greater of (A) 75% of the actual aggregate Statutory Capital and
            Surplus of the Insurance Subsidiaries as of the last day of the
            immediately preceding fiscal year, or (B) the aggregate Statutory
            Capital and Surplus required to have been maintained by the
            Insurance Subsidiaries under this Section 6.5 during the immediately
            preceding fiscal year.

     1.7    Available Dividend Amount. The following is inserted as a new
Section 7.11 of the Credit Agreement:

                 7.11  Available Dividend Amount. The Borrower and Holdings will
            not permit, as of any date on or after the Fourth Amendment Date,
            the aggregate Available Dividend Amount for the U.S. Insurance
            Subsidiaries (other than each U.S. Insurance Subsidiary that is a
            Subsidiary of another U.S. Insurance Subsidiary) for the fiscal year
            in which such date occurs to be less than (i) at any time from and
            including the Fourth Amendment Date to and including December 31,
            2001, $32,487,332, and (ii) at any time thereafter, the greater of
            (A) the product of (x) 10% of the the aggregate Statutory Capital
            and Surplus of the U.S. Insurance Subsidiaries as of the last day of
            the immediately preceding fiscal year and (y) 75%, or (2) the
            aggregate Available Dividend Amount required to have been maintained
            by the U.S. Insurance Subsidiaries under this Section 7.11 during
            the immediately preceding fiscal year.

     1.8    Compliance Certificate. Attachment A of Exhibit C-2 (Form of SAP
Compliance Certificate) is hereby amended and restated as set forth on Exhibit A
hereto.

                                   ARTICLE II

                   AMENDMENTS EFFECTIVE AS OF OCTOBER 1, 2001

     Effective October 1, 2001, the definition of "Applicable Margin Percentage"
shall be amended and restated as follows:

                 "Applicable Margin Percentage" shall mean, (a) at any time from
            and after October 1, 2001, the applicable percentage to be added to
            the LIBOR Rate pursuant to Section 2.8 for purposes of determining
            the Adjusted LIBOR Rate, and (b) at any time from and after October
            1, 2001 the applicable percentage to be used in calculating the
            commitment fee payable pursuant to Section 2.9(c), in each case as
            determined under the following matrix with reference to the
            Borrower's senior unsecured debt rating, or if the Borrower does not
            then have a senior unsecured debt rating, Holding's senior unsecured
            debt rating, by Standard & Poor's,

                                        4

<PAGE>

                  Fitch and Moody's (in each case based upon the higher of the
                  rating of Standard & Poor's and the highest rating of the
                  other two Rating Agencies):

<TABLE>
<CAPTION>
                                                                  Applicable           Applicable Margin
                                Standard & Poor's/ Fitch/           Margin              Percentage for
                                     Moody's Rating             Percentage for            Unutilized
                  Level              --------------               LIBOR Loans           Commitments Fee
                  -----                                           -----------           ---------------
                  <S>           <C>                             <C>                    <C>
                    I               A-/A-/A3 or above               1.000%                   0.20%

                   II                BBB+/BBB+/Baa1                 1.125%                   0.25%

                   III                BBB/BBB/Baa2                  1.250%                    .30%

                   IV                BBB-/BBB-/Baa3                 1.500%                    .35%

                    V             Below BBB-/BBB-/Baa3              2.500%                    .50%
</TABLE>

                  Notwithstanding anything set forth herein to the contrary, if
                  at any time the difference between the senior unsecured debt
                  rating of Standard & Poor's and the highest senior unsecured
                  debt rating of the other two Rating Agencies is more than one
                  rating grade, then for purposes of determining the applicable
                  level set forth above, the applicable rating shall be one
                  rating grade higher than the lower of such two ratings. If the
                  rating system of Standard & Poor's, Fitch or Moody's changes,
                  or if any such Rating Agency ceases to be in the business of
                  rating corporate debt obligations, the Borrower and the
                  Lenders agree to negotiate in good faith to amend the
                  references to specific ratings in this definition to reflect
                  such changed rating system or nonavailability of ratings from
                  such Rating Agency.

                  On each Adjustment Date (as hereinafter defined), the
                  Applicable Margin Percentage for all Loans and the commitment
                  fee payable pursuant to Section 2.9(c) shall be adjusted
                  effective as of such date in accordance with the above matrix.
                  For purposes of this definition, "Adjustment Date" shall mean
                  the fifth (5/th/) Business Day after the announcement by
                  Standard & Poor's, Fitch or Moody's of any change in its
                  rating with respect to the Borrower's or Holding's (as
                  applicable) senior unsecured debt.

                                        5

<PAGE>

                                  ARTICLE III

                        PREPAYMENT; COMMITMENT REDUCTION

     3.1 Prepayment. On or before March 26, 2001, the Borrower shall effect a
optional partial prepayment of the Loans pursuant to Section 2.7(a) of the
Credit Agreement in an aggregate amount of not less than $175,000,000.

     3.2 Notice of Commitment Reduction. Pursuant to Section 2.5(c) of the
Credit Agreement, the Borrower hereby gives notice that it terminates the
Commitments in part in an aggregate amount of $100,000,000, such termination to
be effective simultaneously with the prepayment contemplated by Section 3.1
hereof. In the event that the prepayment contemplated by Section 3.1 hereof
occurs prior to the date five (5) Business Days after the date hereof, the Agent
and the Lenders hereby waive the notice requirement with respect thereto.

                                   ARTICLE IV

                         REPRESENTATIONS AND WARRANTIES

     The Borrower and Holdings hereby represent and warrant to the Agent and the
Lenders as follows:

     4.1 Representations and Warranties. After giving effect to this Amendment,
each of the representations and warranties of the Borrower and Holdings
contained in Sections 4.1 and 4.3 the Credit Agreement is true and correct on
and as of the date hereof with the same effect as if made on and as of the date
hereof (except to the extent any such representation or warranty is expressly
stated to have been made as of a specific date, in which case such
representation or warranty is true and correct as of such date).

     4.2 No Default. After giving effect to this Amendment, no Default or Event
of Default has occurred and is continuing.

                                   ARTICLE V

                                 ACKNOWLEDGEMENT

     Holdings hereby acknowledges that the Borrower, the Agent and the Lenders
have agreed, as provided herein, to amend the Credit Agreement as provided
herein. Holdings hereby approves and consents to the transactions contemplated
by this Amendment and agrees that its obligations under Article IX of the Credit
Agreement and the other Credit Documents to which it is a party shall not be
diminished as a result of the execution of this Amendment. This acknowledgement
by Holdings is made and delivered to induce the Agent and the Lenders to enter
into this Amendment, and Holdings acknowledges that the Agent and the Lenders
would not enter into this Amendment in the absence of the acknowledgements
contained herein.

                                       6

<PAGE>

                                   ARTICLE VI

                                  MISCELLANEOUS

     6.1 Effect of Amendment. From and after the effective date of the
amendments to the Credit Agreement set forth herein, all references to the
Credit Agreement set forth in any other Credit Document or other agreement or
instrument shall, unless otherwise specifically provided, be references to the
Credit Agreement as amended by this Amendment and as may be further amended,
modified, restated or supplemented from time to time. This Amendment is limited
as specified and shall not constitute or be deemed to constitute an amendment,
modification or waiver of any provision of the Credit Agreement except as
expressly set forth herein. Except as expressly amended hereby, the Credit
Agreement shall remain in full force and effect in accordance with its terms.

     6.2 Governing Law. This Amendment shall be governed by and construed and
enforced in accordance with the laws of the Commonwealth of Virginia (without
regard to the conflicts of law provisions thereof).

     6.3 Fees; Expenses. The Borrower and Holdings agree to pay (i) to each
Lender executing this Amendment, an amendment fee equal to such Lender's pro
rata share (based upon on such Lender's Commitment as compared with the
aggregate Commitments of the Lenders executing this Amendment) of $200,000, and
(ii) upon demand all reasonable out-of-pocket costs and expenses of the Agent
(including, without limitation, the reasonable fees and expenses of counsel to
the Agent) in connection with the preparation, negotiation, execution and
delivery of this Amendment and the other Credit Documents delivered in
connection herewith.

     6.4 Severability. To the extent any provision of this Amendment is
prohibited by or invalid under the applicable law of any jurisdiction, such
provision shall be ineffective only to the extent of such prohibition or
invalidity and only in any such jurisdiction, without prohibiting or
invalidating such provision in any other jurisdiction or the remaining
provisions of this Amendment in any jurisdiction.

     6.5 Successors and Assigns. This Amendment shall be binding upon, inure to
the benefit of and be enforceable by the respective successors and assigns of
the parties hereto.

     6.6 Construction. The headings of the various sections and subsections of
this Amendment have been inserted for convenience only and shall not in any way
affect the meaning or construction of any of the provisions hereof.

     6.7 Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto on separate counterparts, each of
which when so executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument.

                                       7

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized officers as of the date first above written.

                                     MARKEL NORTH AMERICA, INC. (formerly known
                                        as Markel Corporation)

                                     By:      _______________________________

                                     Title:   _______________________________

                                     MARKEL CORPORATION
                                     (formerly known as Markel Holdings, Inc.)

                                     By:      _______________________________

                                     Title:   _______________________________

                                     FIRST UNION NATIONAL BANK, as Agent and as
                                     a Lender

                                     By:      _______________________________

                                     Title:   _______________________________

                                     BANK ONE, NA

                                     By:      _______________________________

                                     Title:   _______________________________

                                     BARCLAYS BANK PLC

                                     By:      _______________________________

                                     Title:   _______________________________

                                       8

<PAGE>

                                       THE CHASE MANHATTAN BANK

                                       By:      _______________________________

                                       Title:   _______________________________

                                       CREDIT LYONNAIS NEW YORK BRANCH

                                       By:      _______________________________

                                       Title:   _______________________________

                                       SUNTRUST BANK

                                       By:      _______________________________

                                       Title:   _______________________________

                                       FLEET NATIONAL BANK

                                       By:      _______________________________

                                       Title:   _______________________________

                                       THE NORTHERN TRUST COMPANY

                                       By:      _______________________________

                                       Title:   _______________________________

                                       9Exhibit 10.1

   
 Exhibit 10.1
 EMPLOYMENT AGREEMENT BETWEEN

MAINSTREET BANKSHARES, INC.
 AND BRENDA SMITH
 

     This Employment Agreement (“Agreement”), dated for purposes of identification, October 1, 2002, is made and entered into between MainStreet Bankshares, Inc.
(“Employer”), a bank holding company which owns all of the outstanding common stock of Smith River Community Bank, N.A. (“Bank”) and Brenda Smith (“Employee”).
      WHEREAS, Employer desires to employ Employee as Executive Vice President of Employer and Bank;
      WHEREAS, Employee is willing to accept
such positions with the Employer and Bank.
 NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements hereinafter set forth, the parties hereto agree as
follows:
 SECTION 1. DEFINITIONS. As used in this Agreement, the following capitalized terms have the indicated meanings unless the context clearly requires otherwise:
 1.01 “Board” means the Board of Directors of the Employer and “Bank Board” means the Board of Directors of Bank, as the same may be constituted from time to time unless otherwise expressly provided
herein.
 1.02 “Cause” means (a) the continued failure by Employee to perform his duties hereunder (other than any such failure resulting from his incapacity due to physical or mental
illness) or otherwise to comply with his obligations hereunder after a written demand for performance with respect thereto is delivered to the Employee by the Board or the Bank Board (excluding Employee, if a member of the Board or Bank Board at
such time, in each case), respectively, and which failure has not been cured as hereinafter provided, which demand specifically identifies the manner in which the Board or Bank Board believes that Employee has not performed his duties or is
otherwise in breach of his obligations hereunder; or (b) the engaging by the Employee in illegal conduct or any conduct which is demonstrably and materially injurious to the Employer or Bank in the sole discretion and judgment of the Board or the
Bank Board; or (c) the issuance of a removal order or similar or der by a governmental regulatory agency with appropriate jurisdiction prohibiting Employee from participating in the affairs of the Employer or Bank. Any act or failure to act by
Employee based upon authority given pursuant to a resolution duly adopted by the Board
 1

  or Bank Board or based upon the advice of counsel for the Employer or Bank shall be conclusively presumed to be done, or omitted to be done, by the Employee in good faith and
in the best interests of the Employer or Bank, as the case may be, and shall not be a basis for termination for Cause. It is also expressly understood that the Employee’s attention to matters not directly related to the business of the Employer
or Bank shall not provide a basis for termination for Cause so long as the Board or Bank Board, as the case may be, has approved Employee’s engagement in such activities. Upon the issuance of a written demand for performance under Section
1.02(a), Employee shall have 30 days in which to correct the deficiency, and if the Employee corrects such deficiency within this period the deficiency shall not constitute Cause. If the Employee does not correct the deficiency, in the sole
discretion and judgment of the Board or Bank Board (without Employee if a member of the Board or Bank Board at such time, in either case), within the thirty (30) day period, such deficiency shall constitute Cause for purposes of the termination of
this Agreement. The conditions constituting Cause under Section 1.02 (b) or (c) above shall not require prior notice, a written demand for performance or an opportunity to cure. Termination for Cause by the Bank shall automatically constitute
Termination for Cause by the Employer and Termination for Cause by the Employer shall automatically constitute Termination for Cause by Bank.
 1.03 “Date of Termination” means the date
Employee’s employment hereunder is deemed terminated, as follows: (a) other than as provided in Section 1.03(b), (c) or (d), the date specified in the Notice of Termination, which date shall be at least 15 days, but not more than 30 days, after
the date of the Notice of Termination except in the case of termination by Employer for Cause, which may be effective as of the date of the Notice of Termination, (b) if Employee’s employment is to be terminated by Employer for Disability,
thirty (30) days after Notice of Termination is given (provided that in the case of Disability the Employee shall not have returned to the performance of his duties on a full-time basis during such thirty (30) day period), (c) if Employee’s
employment is terminated by death, the date of Employee’s death, or (d) if Employee retires, the date of Employee’s Retirement.
 1.04. “Disability” means (a) as a result of
Employee’s physical or mental illness, Employee shall have been absent from the full-time performance of his duties with the Employer and/or Bank for six (6) consecutive months, and (b) within thirty (30) days after Notice of Termination
pursuant to Section 1.03(b) is given Employee shall not have returned to the full-time performance of his duties.
 1.04 “Employer” and “Bank” includes any corporation or other
entity which is the surviving or
 2

  continuing entity in respect of any merger, consolidation or form of business combination in which the Employer or Bank, respectively, ceases to exist.
 1.05 “Employment Year” means the 12-month period beginning with the Initial Date and each 12-month period beginning on the annual anniversary of such Initial Date thereafter.
 1.06 “Initial Date” means the date first written above.
 1.07 “Notice of Termination” means a written notice that Employee’s employment with
Employer is terminated that specifies the Date of Termination when required in accordance with Section 1.03.
 1.09. “Person” has the meaning ascribed to that term in Sections 3(a)(9) and
13(d)(3) of the Exchange Act.
 1.10. “Retirement” means termination of Employee’s employment hereunder after the attainment of age sixty-five (65) or otherwise in accordance with
Employer’s or Bank’s then established retirement policies.
 1.11. “Successor” means any Person that succeeds to, or has the practical ability to control (either immediately or
with the passage of time) the Employer’s business directly, by merger or consolidation, or indirectly by purchase of the Employer’s voting securities, all or substantially all of its assets or otherwise.
 SECTION II. TERM OF EMPLOYMENT AND DUTIES.
 2.01. Employment with Employer and Bank. Employer employs Employee under the terms of this Agreement as of
the Initial Date as Executive Vice President of Employer and Bank. Employee shall be expected to perform such services as are generally performed by the executive vice president of a bank holding company, in the case of Employer, and of a community,
commercial bank in the case of the Bank, responsible, in each case, for financial matters. Employee shall comply fully with all policies and procedures established, and all directives given, from time to time, by the Board and/or Employer’s
more senior officers, in the case of the Employer, or by the Bank Board and/or Bank’s more senior officers, in the case of the Bank.
 2.02. Acceptance of Employment. Employee accepts
such employment and shall devote his full-time, attention and best efforts to the diligent performance of his duties herein specified and as an officer of Employer and Bank; provided, however, that Employee shall be given reasonable flexibility, in
the discretion of the senior management of the Employer and Bank, with respect to work periods in order to accomodate legitimate personal matters. While employed hereunder, Employee will not, without the prior express written consent of the Board,
accept employment with any other individual, corporation,
 3

  partnership, governmental authority or other entity, or engage in any other venture for profit which the Board or the Bank Board, respectively, may consider in its sole
discretion and judgment to be in conflict with Employer’s or Bank’s best interest or to be in competition with Employer’s or Bank’s business, or which may interfere in any way with Employee’s performance of his duties
hereunder. It is understood and agreed that Employee has the right to participate in passive investments including income producing real estate.
 2.03. Term of Employment. Employee shall be
employed by Employer pursuant hereto until the third year anniversary of the Initial Date unless Employee’s employment is sooner terminated as set forth herein; provided, however, that beginning with the first anniversary of the Initial Date
and each anniversary thereafter, the term of Employee’s employment shall automatically be extended for one additional Employment Year unless at least ninety (90) days prior to such anniversary date, the Employer or the Bank, on the one hand or
the Employee, on the other, shall have given written notice that the Employee’s employment shall not be so extended.
 2.04. Offices. Termination of employment hereunder shall include
termination of employment as Executive Vice President of Employer of the Bank and of all other positions with the Employer and the Bank. 
 SECTION III. COMPENSATION AND RELATED
MATTERS.
 3.01. Base Salary. From the date hereof and until the Date of Termination. Employee shall have an annual base salary of SEVENTY THOUSAND SIX HUNDRED TWENTY AND NO/100 DOLLARS
($70,620.00), as the same may be adjusted from time to time pursuant hereto.
 3.02. Employee Benefits. Subject to meeting applicable eligibility provisions, Employee shall be entitled to the
same medical and health insurance coverage as provided by Employer to its employees generally from time to time.
 SECTION IV. RIGHTS ON TERMINATION OF EMPLOYMENT.
 4.01. Mutual Terminations. In the event that the Bank terminates Employee as its Executive Vice President under one or more provisions of this Agreement, such
 4

  termination shall automatically be deemed an effective termination by Employer of Employee as its Executive Vice President under the same provision or provisions of this
Agreement unless the Board (excluding Employee, if a member of the Board at such time) expressly and in writing agrees otherwise. In the event that the Employer terminates Employee as its Executive Vice President under one or more provisions of this
Agreement, such termination shall automatically be deemed an effective termination by Bank of Employee as its Executive Vice President under the same provision or provisions of this Agreement unless the Bank Board (excluding Employee if a member of
the Bank Board at such time) expressly and in writing agrees otherwise.
 4.02. Termination for Cause by Employer and Bank, Termination for Any Reason by Employee, Termination on Account of
Death. If Employer and Bank terminate Employee’s employment for Cause or if Employee terminates his employment with Employer and Bank for any reason, or if the Employee’s employment is terminated on account of his death, the Employer
shall pay the Employee his full base salary through the Date of Termination at the rate in effect at the time Notice of Termination is given. No Notice of Termination is required hereunder in the event of Employee’s death, and the foregoing
amounts shall be determined on the date of death.
 4.03. Termination by Employer and Bank Without Cause. Upon the termination of the Employee’s employment by Employer and Bank without
Cause, Employer shall pay Employee a lump sum payment equal to (a) the total base salary that Employee would have earned had Employee continued in the Employer’s employ through the remaining term of employment as then in effect, without
reference to his termination, such base salary to be at the rate in effect at the time Notice of Termination is given, and (b) the present value of the Employer’s cost of all welfare and pension benefits then being provided to Employee
calculated as if the Employee had continued in the Employer’s employ through the remaining term of employment as then in effect with the same benefits at the same cost to Employer.
 4.04.
Other Terminations. In the event of any termination of Employee’s employment as then in effect which is not provided for in Section 4.03, Employee shall be entitled to no compensation or other benefits whatsoever beyond the Date of
Termination.
 4.05. Offset. The amount of any payment provided for in this Section IV shall not be reduced, offset or subject to recovery by the Employer, Bank or Successor by reason of any
compensation earned by Employee as the result of employment by another employer after the Date of Termination, or otherwise.
 5

  SECTION V. STOCK OPTIONS.
 5.01. Stock Options. Employer intends to propose to Employer’s Board of
Directors for its consideration and approval a Stock Option Plan (the “Stock Option Plan”). If such Plan is adopted by Employer’s Board of Directors, it is Employer’s intent to propose that Employee be granted (the
“Grant”) 30,000 options (“Option(s)”) to purchase Employer common stock vesting annually in blocks of 10,000 shares over a two year period with the first such 10,000 share block vesting on the date of Grant, upon the terms and
conditions set forth in the Stock Option Plan and at a purchase price per share which is equal to the fair market value of Employer common stock on the date of grant as specified in the Grant.
 The
Options shall be subject in all respects to the terms and conditions of the Stock Option Plan and the Grant may be exercised only in the manner provided therein.
 5.02. Restrictions. The
Options and the shares of common stock issuable upon exercise of such Options will not be registered under the Securities Act of 1933 (“Securities Act”), or under the Blue Sky or other securities laws of any state, and cannot be sold or
offered for sale unless subsequently so registered or an exemption from registration is available. Employee understands that these securities will be issued in reliance on § 4(2) of the Securities Act and other available exemptions from
registration under federal and state securities laws and that he may be required to hold the securities indefinitely. All certificates representing the securities shall be subject to stop transfer orders and shall bear an appropriate restrictive
legend. Employee agrees that he will not dispose of any of the securities except in a manner and fashion which is in total compliance with the law and unless and until either (i) Employer shall have received an opini on of legal counsel satisfactory
to it that such disposition does not violate the Securities Act and regulations promulgated thereunder and any applicable state securities laws or regulations, or (ii) the securities have been validly registered under the Securities Act and any
applicable state Blue Sky or securities law. The foregoing notwithstanding, Employer shall, at its expense, register any stock issuable pursuant to the exercise of an Option under the Securities Act and any applicable state Blue Sky or securities
law upon Employee’s request, provided, however, that the federal registration can be accomplished on Form S-8, and, in the sole and exclusive opinion of Employer, would have no adverse effect on any offering or sale of Employer securities
contemplated or underway.
 5.03. Forfeiture. If at any time while the Options are exercisable, the Board of Governors of the Federal Reserve System makes a formal capital call on the Employer
or the Comptroller of the Currency makes a formal capital call on the Bank, Employee will be required to exercise all exercisable Options in whole or
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  part as may be needed for additional required capital or such exercisable options shall be forfeited. Any Options not required to be exercised under the terms of any such
capital call may be exercised under the original terms of the Grant.
 5.04. Qualified Stock Options. If the Stock Option Plan is adopted by Employer’s Board in 2002, it is the intent of
Employer to seek approval by Employer’s shareholders of the Stock Option Plan at Employer’s 2003 annual shareholders’ meeting and, if approved by such shareholders, the Options may constitute incentive stock options as such term is
defined under Section 422 of the United States Internal Revenue Code; provided, however, that in the event such Stock Option Plan is not, for any reason, adopted by the Board or placed before Employer’s shareholders at the 2003 annual
shareholders’ meeting or any other meeting or is not approved by such shareholders, the Options shall be nonqualified options. Neither Employer nor Bank represents or warrants that the Options will be or are capable of becoming qualified stock
options within the meaning of Section 422 of the U.S. Internal Revenue Code or that the Plan will be adopted by the Bo ard, and if adopted, presented to Employer’s shareholders for approval or, if so presented, will be approved at any time.
Nothing herein shall obligate Employer or Bank to take any act or refrain from taking any act in furtherance of qualifying such Options under Section 422.
 SECTION VI.
MISCELLANEOUS.
 6.01. Agreement of Employer’s Successor. Upon Employee’s written request, Employer will have any Successor, by agreement in form and substance satisfactory to
Employee, assent to the fulfillment by Employer of its obligations under this Agreement. 6.02. Binding Agreement. This Agreement shall inure to the benefit of and be enforceable by Employee’s personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees. If Employee should die while any amount would still be payable to Employee hereunder if the Employee had continued to live, all such amounts, unless otherwise provided herein,
shall be paid in accordance with the terms of this Agreement to Employee’s beneficiary designated in writing and delivered to Employer, if any, and if none to Employee’s estate.
 6.03.
Legal Fees. Employer shall pay up to but not in excess of $750 in total of legal fees incurred by the Employee for the purpose of consulting with Employee’s own legal counsel regarding the Employee’s rights and obligations under
this Agreement so long as, at the time of any such consultation for which Employee seeks reimbursement, there is no claim or controversy between Employee and Employer regarding this Agreement and such consultation does not involve any claim or
controversy. Except as
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  provided in the immediately preceding sentence and in Section VII, each party shall pay its own legal fees and related or other expenses incurred in connection with this
Agreement, whether or not such party prevails, including, without limitation all such fees and expenses, if any, incurred in contesting or disputing any termination or seeking to obtain or enforce any right or benefit provided by this
Agreement.
 6.04. Taxes. All payments to be made to Employee under this Agreement will be subject to required withholding of federal, state and local and employment and other
taxes.
 6.05. Notice. For the purposes of this Agreement, notices and all other communications provided for in the Agreement shall be in writing and shall be deemed to have been duly given
when delivered to Employee or the Chairman of the Board of Employer or mailed by United States registered mail, return receipt requested, postage prepaid and addressed:
 in the case of Employer, to
the attention of the Chairman of the Board at the following address:

	 	MainStreet Bankshares, Inc.
	 	730 East Church Street
	 	Suite 12
	 	Martinsville, Virginia 24112

 in the case of Bank, to the attention of the Chairman of the Board at the
following address:

	 	Smith River Community Bank, N.A.
	 	730 East Church Street
	 	Suite 12
	 	Martinsville, Virginia 24112

 or, in the case of Employee, to the address set forth below the Employee’s
signature, provided that all notices may be sent to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon receipt.

6.06. Modification; Waiver. No provision of this Agreement may be modified, waived or discharged unless such modification, waiver or discharge is agreed to in writing signed by Employee and the Chief
Executive Officer of Employer. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of
a similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which
are not expressly set forth in this Agreement. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the Commonwealth of Virginia.
 8

  To the extent that any provision of any other agreement between Employer or any of its subsidiaries and Employee shall limit, qualify or be inconsistent with any provision of
this Agreement, then for purposes of this Agreement, while the same shall remain in force, the provision of this Agreement shall control and such provision of such other agreement shall be deemed to have been superseded, and to be of no force or
effect, as if such other agreement had been formally amended to the extent necessary to accomplish such purpose.
 6.07. Validity. The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original
but all of which together will constitute one and the same instrument.
 SECTION VII. CONFIDENTIALITY.
 7.01. Confidentiality.
Employee agrees that subsequent to his period of employment with Employer, he will not at any time communicate or disclose to any unauthorized person, without the express prior written consent of the Employer, any proprietary, confidential or
nonpublic information concerning the Employer or any subsidiary of the Employer, its operations, finances, condition, properties, assets, business or strategic plans, employees, budgets, or any other matter, it being understood, however, that the
obligations of this Section shall not apply to the extent that the aforesaid matters (i) are disclosed in circumstances where Employee is legally required to do so or (ii) become generally known to and available for use by the public otherwise than
by the Employee’s wrongful act or omission.
 7.02. Relief. In the event of Employee’s actual or threatened breach of this Section, Employer or Successor, as the case may be, shall
be entitled to a preliminary restraining order and an injunction restraining the Employee from violating its provisions. Notwithstanding anything to the contrary herein, Employee agrees that it shall pay all costs and expenses of Employer, including
but not limited to reasonable expert witness and legal fees, in connection with any litigation regarding the enforcement of this Section VII.
 7.03. Other Remedies. Nothing in this Agreement
shall be construed to prohibit the Company or Successor from pursuing any other available remedies for such breach or threatened breach, including the recovery of damages from the Employee.
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  IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first above written.

	 	MAINSTREET BANKSHARES, INC.
	 	 
	 	 
	 	By: /s/ C. R. McCullar
	 	 
	 	Its: President and CEO
	 	 
	 	 
	 	/s/Brenda Smith
	 	Brenda Smith
	 	 
	 	Address: 115 Farmingdale Drive
	 	                  Martinsville, VA 24112

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