Username:
  
  Password:
  
  

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


This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more