SEC Contract Filing

Filing Date: 2020-05-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>sona-20200331xex10d4.htm
<DESCRIPTION>EX-10.4
<TEXT>
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 <font style="display:inline;font-family:Times;font-weight:bold;font-size:11pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a name="_Hlk36451811"></a></font><font style="display:inline;font-weight:bold;font-size:12pt;">Exhibit 10.4</font>
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 <font style="display:inline;font-size:12pt;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-size:12pt;">THIS SEPARATION AGREEMENT (this &#x201C;</font><font style="display:inline;font-size:12pt;text-decoration:underline;">Agreement</font><font style="display:inline;font-size:12pt;">&#x201D;) is entered into as of the Effective Date, as defined in Section 6 hereof, by and between Southern National Bancorp of Virginia, Inc. (the &#x201C;</font><font style="display:inline;font-size:12pt;text-decoration:underline;">Company</font><font style="display:inline;font-size:12pt;">&#x201D;) and Mr. R. Roderick Porter (&#x201C;</font><font style="display:inline;font-size:12pt;text-decoration:underline;">Employee</font><font style="display:inline;font-size:12pt;">&#x201D;).&nbsp;&nbsp;Together, the Company and Employee may be referred to hereinafter as the &#x201C;Parties.&#x201D;&nbsp; </font>
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 <font style="display:inline;font-size:12pt;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-size:12pt;">In consideration of the payments, covenants and releases described below, and in consideration of other good and valuable consideration, the receipt and sufficiency of all of which is hereby acknowledged, the Company and Employee agree as follows:</font>
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 <font style="display:inline;font-size:12pt;text-decoration:underline;">Resignations</font><font style="display:inline;font-size:12pt;">.&nbsp;&nbsp;In order to effect Employee&#x2019;s separation from the Company and its wholly-owned subsidiary, Sonabank, Employee hereby resigns (a) Employee&#x2019;s position as Executive Vice Chairman of the Board of each of the Company and Sonabank, effective as of March 30, 2020 (the &#x201C;</font><font style="display:inline;font-size:12pt;text-decoration:underline;">Separation Date</font><font style="display:inline;font-size:12pt;">&#x201D;), (b) Employee&#x2019;s position as a member of the boards of directors of each of the Company and Sonabank, effective as of the date of the Company&#x2019;s 2020 annual meeting of stockholders, which is currently expected to be held on May 23, 2020 (the &#x201C;Annual Meeting Date&#x201D;), (c) Employee&#x2019;s employment with the Company and Sonabank and, except as set forth in Section 1(b), all other positions Employee holds wi