Blue Ridge Bankshares amends CEO Beale's employment agreement; severance, change-in-control terms revised

BLUE RIDGE BANKSHARES, INC.

Effective Jan 1, 2025, Beale's agreement: 2-year term, base salary floor $547,000; annual bonus up to 40% of base.
Severance period for without-cause termination changed to greater of months remaining or 12 months (from up to 12 months less months since May 2023).
Change-in-control payout revised to 2 times (base salary + highest bonus in prior 2 years), from months-remaining formula.
Non-compete covenant extended from 3 months to 12 months; fintech businesses removed from 'competitive business' definition.
CFO Judy Gavant's agreement amended with only ministerial and administrative changes; no material term alterations.

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