Base Salary Schedule for Named Executive Officers of Old Point Financial Corporation (as of March 1, 2005)
This document lists the annual base salaries for key executive officers of Old Point Financial Corporation and its subsidiary, The Old Point National Bank of Phoebus, as of March 1, 2005. It identifies the officers by name and title, and specifies their respective base salary amounts. The agreement serves as a formal record of executive compensation for regulatory and disclosure purposes.
Exhibit 10.7
Base Salaries of Named Executive Officers of the Registrant
As of March 1, 2005, the following are the base salaries (on an annual basis) of the named executive officers (as defined in Item 402 (a)(3) of Regulation S-K) of Old Point Financial Corporation:
| Robert F. Shuford Chairman, President & CEO Old Point Financial Corporation | $ | 225,000 | |
| Louis G. Morris President & CEO The Old Point National Bank of Phoebus | $ | 190,000 | |
| Cary B. Epes Executive Vice President/Chief Credit Officer The Old Point National Bank of Phoebus | $ | 136,000 | |
| Margaret P. Causby Executive Vice President/Chief Administrative Officer The Old Point National Bank of Phoebus | $ | 136,000 | |
| Laurie D. Grabow Executive Vice President/Chief Financial Officer The Old Point National Bank of Phoebus | $ | 115,000 | |
