Amendment to Bylaws of Heritage Bankshares, Inc. Regarding Director Age Limit
Heritage Bankshares, Inc. has amended its bylaws to require that any director who reaches the age of 75 must step down from active directorship at the end of their current term. After stepping down, the individual will become a Director Emeritus, with rights and privileges determined by the Board of Directors. This amendment clarifies the company's policy on director retirement due to age.
EXHIBIT 10.11
Amendment to Bylaws
The second grammatical paragraph of Section 2.4 of the Bylaws of the Corporation is amended to read in its entirety as follows:
“Any director, upon reaching the age of seventy-five (75) years, shall, effective upon the expiration of the term for which he or she is elected, relinquish active directorship and shall become a Director Emeritus with such rights and privileges attendant thereto as are established from time to time by the Board of Directors.”
