Summary of OAK RIDGE FINANCIAL SERVICES, INC.

ITEM 8.01. OTHER EVENTS.

Oak Ridge Financial Services, Inc. (the "Company") and its banking subsidiary, Bank of Oak Ridge (the "Bank"), are parties to employment agreements, as amended, with certain of their executive officers, dated as of the dates indicated in the copy agreements attached hereto as Exhibits (10)(i) to
(10)(iii), and salary continuation agreements with certain of their executive officers, dated as of the dates indicated in the copy agreements attached hereto as Exhibits (10)(ix) to (10)(xi), which agreements are incorporated herein by reference. In addition, the Company and the Bank are parties to certain agreements for the lease of premises, dated as of the dates indicated in the copy agreements attached hereto as Exhibits (10)(iv) to (10)(vi), which agreements are incorporated herein by reference. The Bank has also adopted certain stock option plans as more particularly set forth on the attached Exhibits (10)(vii) and (10)(viii), which are incorporated herein by reference. The Company has also adopted a Code of Ethics for Senior Officers as more particularly set forth on the attached Exhibit (14), which is incorporated herein by reference.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

Exhibit (10)(i)      Employment Agreement with Ronald O. Black, as amended.

Exhibit (10)(ii)     Employment Agreement with L. William Vasaly, as amended.

Exhibit (10)(iii)    Employment Agreement with Thomas W. Wayne, as amended

Exhibit (10)(iv)     Outparcel Ground Lease between J. P. Monroe, L.L.C. and Bank of Oak
                     Ridge dated June 1, 2002.

Exhibit (10)(v)      Ground and Building Lease between KRS of Summerfield, LLC and Bank
                     of Oak Ridge dated September 25, 2002.

Exhibit (10)(vi)     Ground Lease between Friendly Associates XVIII, LLP and Bank of Oak
                     Ridge dated September 13, 2004.

Exhibit (10)(vii)    Bank of Oak Ridge Second Amended and Restated Director Stock Option
                     Plan.

Exhibit (10)(viii)   Bank of Oak Ridge Second Amended and Restated Employee Stock Option
                     Plan.

Exhibit (10)(ix)     Salary Continuation Agreement with Ronald O. Black dated January 20,
                     2006.

Exhibit (10)(x)      Salary Continuation Agreement with L. William Vasaly, III dated
                     January 20, 2006.

Exhibit (10)(xi)     Salary Continuation Agreement with Thomas W. Wayne dated January 20,
                     2006.

Exhibit (14)         Code of Ethics for Senior Officers Policy