SEC Contract Filing

Filing Date: 2015-12-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex10-3.htm
<DESCRIPTION>AMENDMENT TO EQUITY AWARDS
<TEXT>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit 10.3</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">HAMPTON ROADS BANKSHARES, INC.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">UNDER THE 2011 OMNIBUS INCENTIVE PLAN</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>THIS AMENDMENT, dated as of the __ day of December 2015, between Hampton Roads Bankshares, Inc., a Virginia corporation (the &#8220;Company&#8221;), and ______________ (&#8220;Participant&#8221;) is made pursuant and subject to the provisions of the Hampton Roads Bankshares, Inc. 2011 Omnibus Incentive Plan (the &#8220;Plan&#8221;).&#160;&#160;All terms used herein that are defined in the Plan have the same meaning given them in the Plan.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>1.&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Awards to be Amended</font>.&#160;&#160;Pursuant to the Plan, the Company has granted restricted stock units (the &#8220;Stock Units&#8221;) to Participant.&#160;&#160;The dates and number of shares of Common Stock covered by the Stock Units are set forth on Exhibit A attached hereto.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>2.&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Vesting and Exercisability</font>.&#160;&#160;The Awards set forth on Exhibit A are hereby amended on the following terms:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Awards of Stock Units shall become fully (100%) &#8220;Vested&#8221; (as such term is used of the applicable Stock Unit Agreement) in the event (i) Participant&#8217;s employment with the Company and Bank of Hampton Roads, Inc. (together, the &#8220;Employer&#8221;) is terminated other than for &#8220;Cause&#8221; (as defined under Participant&#8217;s employment agreement with the Employer, as such agreement may be amended from time to time (the &#8220;Employment Agreement&#8221;)) or (ii) Participant resigns from employment with the Employer for &#8220;Good Reason,&#8221; (as defined under the Employment Agreement).&#160;&#160;Accordingly, the term &#8220;Vested&#8221; in Section 3 of the applicable Stock Unit Agreement includes vesting in accordance with the preceding sentence.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>3.&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">No Effect on Other Terms.</font>&#160;&#160;Other than as set forth in Section 2 above, the Stock Units remain unaffected by this Amendment.</font></div>

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