Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment if Certain Officers; Compensatory Arrangements of Certain Officers.
On May 5, 2009, John P. Perseo, Jr., Executive Vice President - Operations and
Technology, of Virginia Commerce Bank (the "Bank"), resigned, effective
immediately, for personal reasons. The Bank expects that it will enter into a
consulting agreement with Mr. Perseo, pursuant to which Mr. Perseo will provide
continuing services to the Bank on projects in process as of the date of his
resignation, for a period of approximately three months, and such other matters
as may be mutually agreed upon. Mr. Perseo's compensation under the consulting
agreement is expected to be at an annualized rate equal to his current base
salary of $164,800.
Michael G. Anzillotti, President of the Company, will assume Mr. Perseo's duties
as acting head of the departments until a successor is appointed.
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