Exhibit 10.26
FORM OF AMENDMENT
TO
EMPLOYMENT
AGREEMENT
WHEREAS,
(the “Executive” ) is a party with Heritage
Bankshares Inc., ( “Bankshares” ), to an
Employment Agreement dated
(the “Agreement” ); and
WHEREAS, Bankshares intends to enter
into a letter agreement with the United States Department of the
Treasury (the “UST” ) pursuant to which
Bankshares shall issue shares of preferred stock and the UST shall
purchase from Bankshares the shares of preferred stock (the
“Program” ); and
WHEREAS, it is a condition to
participation in the Program under the Emergency Economic
Stabilization Act of 2008, as amended ( “EESA”
), and rules, regulations, guidance or other requirements issued
thereunder (collectively, along with the EESA, the “EESA
Restrictions” ), that (i) employment agreements and
other agreements with the Executive and certain other employees of
Bankshares (the “Covered Employees” ) be amended
to comply with the EESA Restrictions; and (ii) the Covered
Employees execute a form of waiver (the “Waiver”
); and
WHEREAS, the Executive intends to
execute the Waiver, wherein the Executive: (i) acknowledges
that the EESA Restrictions may require m