Exhibit 10.2

FIRST CAPITAL BANK

EXECUTIVE ENDORSEMENT SPLIT DOLLAR AGREEMENT

THIS AGREEMENT is entered into this 12th day of May, 2011, by First Capital Bank, a Virginia commercial bank located in Glen Allen, Virginia (the “Bank”) and Robert G. Watts, Jr. (the “Insured”).

RECITALS

The Insured is an executive and a key employee of the Bank. To encourage the Insured to remain an employee of the Bank, the Bank is willing to divide the death proceeds of one or more life insurance policies (collectively referred to hereinafter as the “policy”) on the Insured’s life.

The cash value of the policy and the Bank’s share of the death benefit proceeds will be used by the Bank to offset the costs of benefits the Bank provides its employees including the Insured.

The Insured’s share of the death benefit proceeds shall be payable solely from the policy. The Insured shall have no claim against the Bank for any death proceeds.

By executing this Agreement, the Insured consents to the Bank acquiring, owning, and holding the policy on his or her life for the purposes described herein. Subject to the specific terms and conditions of this Agreement, the details of the policy are described as follows:

Policy Number:                     

Face Amount:           $4,131,300.00

NOW, THEREFORE, in consideration of the foregoing the parties agree as follows:

Refer to policy contract for the definition of all insurance terms in this Agreement. The following additional terms shall have the following meanings:

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Title and all incidents of ownership shall reside in the Bank. The Bank shall be the direct beneficiary of an amount of death proceeds equal to the greater of (a) the cash surrender value of the policy, (b) the aggregate premiums paid on the policy by the Bank less any outstanding indebtedness to the Insurer, or (c) the total death proceeds of the policy minus the Insured’s interest in the death proceeds as set forth in Paragraph VI. The Bank alone may, to the extent of its interest, exercise the right to borrow or withdraw on the policy cash values. When the Bank and the Insured (or assignee, with the consent of the Insured) mutually agree to exercise the right to increase the coverage under the policy, then, in such event, the rights, duties and benefits of the parties to such increased coverage shall continue to be subject to the terms of this Agreement.

The Insured (or assignee) shall have the right and power to designate a beneficiary or beneficiaries to receive the Insured’s share of the proceeds payable upon the death of the Insured, and to elect and change a payment option for such beneficiary, subject to any right or interest the Bank may have in such proceeds, as provided in this Agreement.

2

The Bank shall pay an amount equal to the planned premiums and any other premium payments that might become necessary to keep the policy in force.

Annually the Insured will receive a taxable benefit equal to the assumed cost of insurance as required by the Internal Revenue Service. The Bank (or its administrator) will report to the Insured the amount of imputed income each year on Form W-2 for executives or its equivalent.

Subject to Paragraphs II, VII, and IX herein, the Insured’s interest in the death proceeds in the policy is as follows:

The Bank shall at all times be entitled to an amount equal to the policy’s total account value, as that term is defined in the policy contract, less any policy loans

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and unpaid interest or cash withdrawals previously incurred by the Bank and any applicable surrender charges. Such account value shall be determined as of the date of surrender or death as the case may be.

In the event the policy involves an endowment or annuity element, the Bank’s right and interest in any endowment proceeds or annuity benefits, on expiration of the deferment period, shall be determined under the provisions of this Agreement by regarding such endowment proceeds or the commuted value of such annuity benefits as the policy’s cash value. Such endowment proceeds or annuity benefits shall be considered to be like death proceeds for the purposes of division under this Agreement.

4

The Insured may not, without the written consent of the Bank, assign to any individual, trust or other organization, any right, title or interest in the subject policy nor any rights, options, privileges or duties created under this Agreement.

This Agreement shall bind the Insured and the Bank, their heirs, successors, personal representatives and assigns.

The following provisions are part of this Agreement and are intended to meet the requirements of the Employee Retirement Income Security Act of 1974 (“ERISA”):

The “Named Fiduciary and Plan Administrator” of this Endorsement Split Dollar Agreement shall be the Bank. As Named Fiduciary and Plan Administrator, the Bank shall be responsible for the management, control, and administration of this Split Dollar Plan as established herein. The Named Fiduciary may delegate to others certain aspects of the management and operational responsibilities of the Plan, including the employment of advisors and the delegation of any ministerial duties to qualified individuals.

5

The funding policy for this Split Dollar Plan shall be to maintain the policy in force by paying, when due, all premiums required.

Direct payment by the Insurer is the basis of payment of benefits under this Agreement, with those benefits in turn being based on the payment of premiums as provided in this Agreement.

Claim forms or claim information as to the policy can be obtained by contacting MMB Consulting, LLC (804-762-7036). When the Named Fiduciary has a claim which may be covered under the provisions described in the policy, they should contact the office named above, and they will either complete a claim form and forward it to an authorized representative of the Insurer or advise the named Fiduciary what further requirements are necessary. The Insurer will evaluate and make a decision as to payment. If the claim is payable, a benefit check will be issued in accordance with the terms of this Agreement.

In the event that a claim is not eligible under the policy, the Insurer will notify the Named Fiduciary of the denial pursuant to the requirements under the terms of the policy. If the Named Fiduciary is dissatisfied with the denial of the claim and wishes to contest such claim denial, they should contact the office named above and they will assist in making an inquiry to the Insurer. All objections to the Insurer’s actions should be in writing and submitted to the office named above for transmittal to the Insurer.

6

Whenever in this Agreement words are used in the singular, they shall be read and construed as in the plural, whenever they should so apply. Whenever in this Agreement words are used in the masculine or neuter gender, they shall be read and construed as in the masculine, feminine or neuter gender, whenever they should so apply.

The Insurer shall not be deemed a party to this Agreement, but will respect the rights of the parties as herein developed upon receiving an executed copy of this Agreement. Payment or other performance in accordance with the policy provisions shall fully discharge the Insurer from any and all liability.

7

During the lifetime of the Insured, this Agreement may be amended or revoked at any time or times, in whole or in part, by the mutual written consent of the Insured and the Bank. The Bank may amend this Agreement to the extent such amendment is, in the judgment of the Bank’s outside legal counsel, necessary to conform the Agreement to the requirements of the Internal Revenue Code of 1986, as amended, and the rules, regulations, and guidance of general application issued there under by the Department of Treasury.

The Effective Date of this Agreement shall be May 12, 2011.

If a provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall nonetheless be enforceable according to their terms. Further, in the event that any provision is held to be overbroad as written, such provision shall be deemed amended to narrow its application to the extent necessary to make the provision enforceable according to law and enforced as amended.

The validity and interpretation of this Agreement shall be governed by the laws of the Commonwealth of Virginia.

Executed at First Capital Bank, this 12th day of May, 2011.

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