Document:

Form of Incentive Stock Option Agreement

 Exhibit 10.2 
  
 SERACARE LIFE SCIENCES, INC. 
 2001 STOCK INCENTIVE PLAN 
 INCENTIVE STOCK OPTION AGREEMENT 
  
 THIS INCENTIVE STOCK OPTION AGREEMENT (this “Option
Agreement”) by and between SeraCare Life Sciences, Inc., a California corporation (the “Corporation”), and Craig A. Hooson (the “Participant”) evidences the incentive stock option (the
“Option”) granted by the Corporation to the Participant as to the number of shares of the Corporation’s Common Stock, no par value, first set forth below. 
  

			
	 Number of Shares of Common Stock:1 100,000
	  	Award Date:                     
	 Exercise Price per Share:1
                    $                   
 
	  	Expiration Date:1,2 7th anniversary of the Award Date

  
 Vesting1,2 One-fourth of the total number of shares subject to the Option shall vest on each
of the first, second, third and fourth anniversaries of the Award Date. 
  
 The Option is granted under the SeraCare Life Sciences, Inc. 2001 Stock Incentive Plan (the “Plan”) and subject to the Terms and Conditions of Option (the “Terms”) attached to this Option Agreement
(incorporated herein by this reference) and to the Plan. The Option has been granted to the Participant in addition to, and not in lieu of, any other form of compensation otherwise payable or to be paid to the Participant. The Option is intended as
an incentive stock option within the meaning of Section 422 of the Code (an “ISO”). Capitalized terms are defined in the Plan if not defined herein. The parties agree to the terms of the Option set forth herein, and the Participant
acknowledges receipt of a copy of the Terms and the Plan. 
  

					
	“PARTICIPANT”	  	 “SERACARE LIFE SCIENCES, INC.”
 (a California corporation)

	  

	  	 	 	 
	Signature	  	 	 	 
			
	 Craig A. Hooson

 Print Name
	  	By:	 	  

	  	 	 	 
			
	  

 Address
	  	Its:	 	  

	  	 	 	 
			
	  

 City,
State, Zip Code
	  	 	 	 

  
 CONSENT OF SPOUSE

  
 In consideration of the Corporation’s execution of
this Option Agreement, the undersigned spouse of the Participant agrees to be bound by all of the terms and provisions hereof and of the Plan. 
  

			
	  

	  	  

	Signature of Spouse	  	Date

  

	1	Subject to adjustment under Section 5.2 of the Plan. 

	2	Subject to early termination under Sections 2.6, 5.2 or 5.3 of the Plan. 

 TERMS AND CONDITIONS OF OPTION 
  
 1. Vesting; Limits on Exercise. 
  
 As set forth in the Option Agreement, the Option shall vest and become exercisable in percentage installments of the aggregate number of shares of Common
Stock subject to the Option. The Option may be exercised only to the extent the Option is vested and exercisable. 
  

	 	•	 	Cumulative Exercisability. To the extent that the Option is vested and exercisable, the Participant has the right to exercise the Option (to the extent not previously
exercised), and such right shall continue, until the expiration or earlier termination of the Option. 

  

	 	•	 	No Fractional Shares. Fractional share interests shall be disregarded, but may be cumulated. 

  

	 	•	 	Minimum Exercise. No fewer than 100
shares of Common Stock may be purchased at any one time, unless the number purchased is the total number at the time exercisable under the Option. 

  

	 	•	 	ISO Value Limit. If the aggregate fair market value of the shares with respect to which ISOs (whether granted under the Option or otherwise) first become exercisable by the
Participant in any calendar year exceeds $100,000 as measured on the applicable Award Dates, the limitations of Section 2.3 of the Plan shall apply and to such extent the Option will be rendered a Nonqualified Stock Option. 

 
 2. Continuance of Employment Required; No Employment Commitment. 

 
 The vesting schedule requires continued service through each applicable
vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Partial service, even if substantial, during any vesting period will not entitle the Participant to any
proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. 
  
 Nothing contained in this Option Agreement or the Plan constitutes an employment commitment by the Company, affects the
Participant’s status as an employee at will who is subject to termination without cause, confers upon the Participant any right to remain employed by the Company or any Subsidiary, interferes in any way with the right of the Company or any
Subsidiary at any time to terminate such employment, or affects the right of the Company or any Subsidiary to increase or decrease the Participant’s other compensation. 
  
 3. Method of Exercise of Option. 
  
 The Option shall be exercisable by the delivery to the Secretary of the Corporation of a written notice stating the number of shares of Common Stock to be
purchased pursuant to the Option and accompanied by: 
  

	 	•	 	delivery of an executed Exercise Agreement in substantially the form attached hereto as Exhibit A or such other form as from time to time may be required by the Committee
(the “Exercise Agreement”); 

  

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	 	•	 	payment in full for the Exercise Price of the shares to be purchased, by check or electronic funds transfer to the Corporation, subject to such specific procedures or directions as
the Committee may establish; 

  

	 	•	 	satisfaction of the tax withholding provisions of Section 5.5 of the Plan; and 

  

	 	•	 	any written statements or agreements required pursuant to Section 5.4 of the Plan. 

  
 The Committee also may but is not required to authorize a non-cash payment alternative specified below at or prior to the time of exercise.
In which case, the Exercise Price and/or applicable withholding taxes, to the extent so authorized, may be paid in full or in part by shares of Common Stock already owned by the Participant, valued at their Fair Market Value on the exercise date,
provided, however, that any shares acquired upon exercise of a stock option or otherwise directly from the Corporation must have been owned by the Participant for at least six (6) months before the date of such exercise. 
  
 4. Early Termination of Option. 
  
 The Option, to the extent not previously exercised, and all other rights
hereunder, whether vested and exercisable or not, shall terminate and become null and void prior to the Expiration Date in the event of: 
  

	 	•	 	the Participant’s termination of employment or services as provided in Sections 2.6 and 5.3 of the Plan, or 

  

	 	•	 	the termination of the Option pursuant to Section 5.2 of the Plan. 

  
 Notwithstanding anything to the contrary in the Plan, the Option shall not continue to vest during any leave of absence of the Participant, unless the
Committee otherwise expressly provides in connection with the leave or unless continued vesting is required as a matter of law in respect of the nature of the leave. 
  
 Notwithstanding any post-termination exercise period provided for herein or in the Plan, the Option will qualify as an ISO
only if it is exercised within the applicable exercise periods for ISOs under, and meets all of the other requirements of, the Code. If the Option is not exercised within the applicable exercise periods for ISOs or does not meet such other
requirements, the Option will be rendered a Nonqualified Stock Option. 
  
 5.
Non-Transferability and Other Restrictions. 
  
 The
Option and any other rights of the Participant under this Option Agreement or the Plan are nontransferable and exercisable only by the Participant, except as set forth in Section 1.8 of the Plan. 
  
 6. Notices. 
  
 Any notice to be given under the terms of this Option Agreement or the Exercise Agreement shall be in writing and addressed
to the Corporation at its principal office to 

  

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the attention of the Secretary, and to the Participant at the address given beneath the Participant’s signature hereto, or at such other address as
either party may hereafter designate in writing to the other. Any such notice shall be given only when received, but if the Participant is no longer an Eligible Person, shall be deemed to have been duly given when enclosed in a properly sealed
envelope addressed as aforesaid, registered or certified, and deposited (postage and registry or certification fee prepaid) in a post office or branch post office regularly maintained by the United States Government. 
  
 7. Plan. 
  
 The Option and all rights of the Participant under this Option Agreement are subject to, and the Participant agrees to be
bound by, all of the terms and conditions of the Plan, incorporated herein by this reference. In the event of a conflict or inconsistency between the terms and conditions of this Option Agreement and of the Plan, the terms and conditions of the Plan
shall govern. The Participant acknowledges receipt of a copy of the Plan and agrees to be bound by the terms thereof. The Participant acknowledges reading and understanding the Plan. Unless otherwise expressly provided in other sections of this
Option Agreement, provisions of the Plan that confer discretionary authority on the Board or the Committee do not and shall not be deemed to create any rights in the Participant unless such rights are expressly set forth herein or are otherwise in
the sole discretion of the Board or the Committee so conferred by appropriate action of the Board or the Committee under the Plan after the date hereof. 
  

8. Entire Agreement. 
  
 This Option Agreement (together with the form of Exercise Agreement attached hereto) and the Plan together constitute the entire agreement and supersede
all prior understandings and agreements, written or oral, of the parties hereto with respect to the subject matter hereof. The Plan, this Option Agreement and the Exercise Agreement may be amended pursuant to Section 5.6 of the Plan. Such amendment
must be in writing and signed by the Corporation. The Corporation may, however, unilaterally waive any provision hereof or of the Exercise Agreement in writing to the extent such waiver does not adversely affect the interests of the Participant
hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver of the same provision or a waiver of any other provision hereof. 
  
 9. Governing Law; Limited Rights. 
  
 9.1. California Law. This Option Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
California without regard to conflict of law principles thereunder. 
  
 9.2. Limited Rights. The Participant has no rights as a shareholder of the Corporation with respect to the Option as set forth in Section 5.7 of the Plan. The Option does not place any limit on the corporate authority of the
Corporation as set forth in Section 5.15 of the Plan. 
  
 10.
Representations by the Participant. 
  
 The
Participant by executing this Option Agreement hereby makes the following representations to the Corporation and acknowledges that the Corporation’s reliance on 

  

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securities law exemptions from qualification in the State of California is predicated, in substantial part, upon the accuracy of these representations:

  

	 	•	 	The Participant is acquiring the Option and if and when he/she exercises the Option will acquire the shares of Common Stock solely for the Participant’s own account, for
investment purposes only, and not with a view to or an intent to sell, or to offer for resale in connection with any unregistered distribution, all or any portion of the shares within the meaning of the Securities Act, the California Corporate
Securities Law, or other applicable state securities laws. 

  

	 	•	 	The Participant is knowledgeable about the Corporation and has a preexisting personal or business relationship with the Corporation. As a result of such relationship, he/she is
familiar with, among other characteristics, its business and financial circumstances and has access on a regular basis to or may request the Corporation’s condensed consolidated balance sheet and condensed consolidated income statement setting
forth information material to the Corporation’s financial condition, operations and prospects. 

  

	 	•	 	At no time was an oral representation made to the Participant relating to the Option or the purchase of shares of Common Stock and the Participant was not presented with or
solicited by any promotional meeting or material relating to the Option or the Common Stock. 

  
 [Remainder of Page Intentionally Left Blank] 
  

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 EXHIBIT A 
  
 SERACARE LIFE SCIENCES, INC. 
 2001 STOCK INCENTIVE PLAN 
 OPTION EXERCISE AGREEMENT 
  
 The undersigned (the “Purchaser”) hereby irrevocably elects
to exercise his/her right, evidenced by that certain Incentive Stock Option Agreement dated as of
                             (the “Option Agreement”) under the SeraCare Life
Sciences, Inc. 2001 Stock Incentive Plan (the “Plan”), as follows: 
  

	 	•	 	the Purchaser hereby irrevocably elects to purchase                     
shares of Common Stock, no par value per share (the “Shares”), of SeraCare Life Sciences, Inc., a California corporation (the “Corporation”), and 

  

	 	•	 	such purchase shall be at the price of $                     per share,
for an aggregate amount of $                     (subject to applicable withholding taxes pursuant to Section 5.5 of the Plan).

  
 Capitalized terms are defined in the Plan if not
defined herein. 
  
 Delivery of Share Certificate. The
Purchaser requests that a certificate representing the Shares be registered to Purchaser and delivered to:
                             
  
                                       
                                        
                                        
                                        
                                        
      . 
  
 Plan and Option
Agreement. The Purchaser acknowledges that all of his/her rights are subject to, and the Purchaser agrees to be bound by, all of the terms and conditions of the Plan and the Option Agreement, both of which are incorporated herein by this
reference. If a conflict or inconsistency between the terms and conditions of this Exercise Agreement and of the Plan or the Option Agreement shall arise, the terms and conditions of the Plan and/or the Option Agreement shall govern. The Purchaser
acknowledges receipt of a copy of all documents referenced herein and acknowledges reading and understanding these documents and having an opportunity to ask any questions that he/she may have had about them. 
  
 Notice of Sale. Upon any sale or other transfer of the Shares within
either one year of the date that they are acquired by the Purchaser or two years after the Award Date set forth in the Option Agreement, the Purchaser agrees to provide the notice required under the terms of the Plan. 
  

					
	 “PURCHASER”
  
  

	  	 ACCEPTED BY:
 SERACARE LIFE
SCIENCES, INC.
 (a California corporation)

	 Signature
  
  

	  	  
 By:
	  	  
  

	 Print Name
  
  

	  	Print Name:	  	  

	 Address
  
  

	  	Title:	  	  

	City, State, Zip Code	  	(To be completed by the Corporation after the price (including applicable withholding taxes), value (if applicable) and receipt of funds is verified.)

  

 1Amended and Restated Bylaws of Heritage Bankshares, Inc.

 Exhibit 10.8 
  
 AMENDED AND RESTATED BYLAWS 
  

OF 
  
 HERITAGE BANKSHARES, INC. 
  
 Adopted by the Board of Directors of the Corporation pursuant to a resolution dated April 27, 2005. 

 TABLE OF CONTENTS 
  

					
	ARTICLE 1
	MEETINGS OF SHAREHOLDERS
			
	1.1	 	Annual Meeting.	  	1
	1.2	 	Special Meetings.	  	1
	1.3	 	Place of Meeting.	  	1
	1.4	 	Notice of Meeting.	  	1
	1.5	 	Fixing of Record Date.	  	2
	1.6	 	Quorum.	  	2
	1.7	 	Proxies.	  	2
	1.8	 	Inspectors of Elections.	  	2
	1.9	 	Conduct of Business.	  	3
	1.10	 	Voting of Shares.	  	5
	1.11	 	No Consent of Shareholders in Lieu of Meeting.	  	5
	
	ARTICLE 2
	BOARD OF DIRECTORS
			
	2.1	 	General Powers.	  	5
	2.2	 	Number and Election.	  	5
	2.3	 	Vacancies.	  	6
	2.4	 	Removal of Directors.	  	6
	2.5	 	Regular Meetings.	  	6
	2.6	 	Special Meetings.	  	6
	2.7	 	Participation in Meetings by Conference Telephone.	  	6
	2.8	 	Quorum.	  	6
	2.9	 	Manner of Acting; Action by Board of Directors without a Meeting.	  	7
	2.10	 	Compensation.	  	7
	2.11	 	Presumption of Assent.	  	7
	
	ARTICLE 3
	BOARD COMMITTEES
			
	3.1	 	Membership.	  	7
	3.2	 	Rules of Procedure.	  	7
	3.3	 	Notice.	  	7
	3.4	 	Executive Committee.	  	8
	
	ARTICLE 4
	OFFICERS
			
	4.1	 	Officers.	  	8

					
	 4.2
	 	President.	  	8
	 4.3
	 	Chairman of the Board.	  	8
	 4.4
	 	Secretary.	  	9
	 4.5
	 	Treasurer.	  	9
	 4.6
	 	Other Officers.	  	9
	 4.7
	 	Execution of Instruments.	  	9
	
	ARTICLE 5
	EMPLOYEES AND OTHER OFFICERS
			
	 5.1
	 	Employees and Other Officers.	  	9
	
	ARTICLE 6
	CERTIFICATES OF STOCK AND THEIR TRANSFER
			
	 6.1
	 	Certificate of Stock.	  	10
	 6.2
	 	Transfer Agents.	  	10
	 6.3
	 	Stock Redemption.	  	10
	
	ARTICLE 7
	WAIVER OF NOTICE
			
	 7.1
	 	Waiver.	  	11
	
	ARTICLE 8
	FISCAL YEAR
			
	 8.1
	 	Fiscal Year.	  	11
	
	ARTICLE 9
	SHARES OF OTHER CORPORATIONS
			
	 9.1
	 	Voting.	  	11
	
	Article 10
	SEAL
			
	 10.1
	 	Seal.	  	11
	ARTICLE 11
	AMENDMENTS
			
	 11.1
	 	Amendments.	  	12

					
	ARTICLE 12
	INDEMNIFICATION AND LIMITATION OF LIABILITY
			
	 12.1
	 	Limitation of Liability.	  	12
	 12.2
	 	Indemnification.	  	12
	 12.3
	 	Other Persons.	  	12
	 12.4
	 	Insurance.	  	13
	 12.5
	 	Scope.	  	13
	 12.6
	 	Continuous Coverage.	  	13
	
	ARTICLE 13
	NO CONFLICT
			
	 13.1
	 	No Conflict.	  	13

 AMENDED AND RESTATED BYLAWS 
  
 OF 
  
 HERITAGE BANKSHARES, INC. 
  
 ************ 
  
 ARTICLE 1 
  
 MEETINGS OF SHAREHOLDERS 
  
 1.1 Annual
Meeting. Unless a different date or time is designated by resolution of the Board of Directors, the annual meeting of the shareholders for the election of directors and the transaction of whatever other business may be brought before said
meeting shall be held on the 16th day of June of each year, at 10:00 a.m., if said date is not a legal holiday, or, if a legal holiday, at said time on the next succeeding business day. 
  
 1.2 Special Meetings. Special meetings of shareholders, unless otherwise provided by law, may be called for any
purpose at any time by the Chairman of the Board, the President or a majority of the Board of Directors. 
  
 1.3 Place of Meeting. The Board of Directors may designate any place, either within or without the Commonwealth of Virginia, as the place of
meeting for any annual meeting or for any special meeting which is called by the Board of Directors. If no place is designated by the Board of Directors, or if a special meeting is called otherwise than by the Board of Directors, the place of
meeting shall be the principal offices of the Corporation. 
  
 1.4
Notice of Meeting. Written notice stating the place, day and hour of the meeting and, in case of a special meeting, the purpose or purposes for which the meeting is called, shall be given not less than ten (10) days nor more than sixty (60)
days before the date of such meeting (except as a different time is specified by law) either personally or by mail, telegram, teletype or other carrier, by or at the direction of the Chairman of the Board, the President, the Secretary, or such
person as is designated by the Board of Directors, to each shareholder of record entitled by law to notice of such meeting. If mailed, such notice shall be deemed to be given when deposited in the United States mail, with postage prepaid, addressed
to the shareholder at his or her address as it appears on the stock records of the Corporation. Notwithstanding the foregoing, no notice of a shareholder’s meeting need be given to a shareholder if (i) an annual report and proxy statements for
two consecutive annual meetings of shareholders or (ii) all, and at least two, checks in payment of dividends or interest on securities during a twelve-month period, have been sent by first-class United States mail, addressed to the shareholder at
his or her address as it appears on the stock transfer books of the Corporation, and returned undeliverable. The obligation of the Corporation to give notice of shareholders’ meetings to any such shareholder shall be reinstated once the
Corporation has received a new address for such shareholder for entry on its stock transfer books. 
  

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 1.5 Fixing of Record Date. For the purpose of determining shareholders entitled to notice of, or
to vote at, any meeting of shareholders or any adjournment thereof, or shareholders entitled to receive payment of any dividend, or in order to make a determination of shareholders for any other proper purpose, the Board of Directors may fix in
advance a date as the record date for any such determination of shareholders, such date in any case to be not more than seventy (70) days prior to the date on which the particular action requiring such determination of shareholders is to be taken.
If no record date is fixed by the Board of Directors, as provided above, then the close of business on the day before the date on which notice of the meeting is mailed, or the date on which a resolution of the Board of Directors declaring a dividend
is adopted, shall be the record date for such determination of shareholders. When a determination of shareholders entitled to vote at any meeting of shareholders has been made as provided herein, such determination shall apply to any adjournment of
such meeting if the meeting is adjourned to a date not more than 120 days after the original meeting date. 
  
 1.6 Quorum. A majority of the shares entitled to vote on a matter, represented in person or by proxy, shall constitute a quorum at any meeting of
shareholders, with respect to that matter, except as otherwise required by law. If less than a majority of the shares entitled to vote are so represented at the meeting, then a majority of the shares which are so represented may adjourn the meeting
from time to time without further notice, but may take no other action. At such adjourned meeting, at which a quorum is present in person or represented by proxy, any business may be transacted which might have been transacted at the meeting as
originally called had the same then been held. 
  
 1.7
Proxies. At all meetings of shareholders, a shareholder may vote in person or by proxy executed in writing by such shareholder or by his or her duly authorized attorney-in-fact. Such proxy shall be filed with the Secretary of the Corporation
or any other officer or agent authorized to tabulate votes before or at the time of the meeting. No proxy shall be valid after eleven months from its date, unless otherwise provided in the proxy. 
  
 1.8 Inspectors of Elections. The Board of Directors may, in advance of
any meeting of shareholders, appoint one or more persons, other than nominees for office, to be inspectors of election to determine the qualification of voters, the validity of proxies and ballots, and the results of all votes and ballots, to retain
records of any challenges made to any determination by the inspectors and to certify their determination of the number of shares represented at the meeting and their count of all votes and ballots. If inspectors of election are not so appointed
prior to any meeting of the shareholders, the chairman of such meeting may, or on the request of not fewer than ten percent (10%) of the votes present at the meeting shall, make such appointment at the meeting. Each inspector, before entering upon
the discharge of his or her duties, shall take and sign an oath faithfully to execute the duties of inspector with strict impartiality and according to the best of his or her ability. 
  

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 1.9 Conduct of Business. 
  
 (a) The Chairman of the Board shall call to order any meeting of the shareholders and act as chairman of the meeting. If the
Chairman is not present, or there is none in office, the President shall preside at the meeting. If neither the Chairman nor the President is present, the Board of Directors shall designate a chairman of the meeting. The Board of Directors may, to
the extent not prohibited by law, adopt by resolution such rules and regulations for the conduct of any meeting of the shareholders as it shall deem appropriate. Except to the extent inconsistent with such rules and regulations as adopted by the
Board of Directors, the chairman of any meeting of shareholders shall have the right and authority to prescribe such rules, regulations and procedures and to do all such acts (including appointment of a sergeant-at-arms) as, in the judgment of such
chairman, are appropriate for the proper conduct of the meeting. Such rules, regulations or procedures, whether adopted by the Board of Directors or prescribed by the chairman of the meeting, may to the extent not prohibited by law include, without
limitation, the following: (i) the establishment of an agenda or order of business for the meeting; (ii) rules and procedures for maintaining order at the meeting and the safety of those present; (iii) limitations on attendance at or participation
in the meeting to shareholders of record of the Corporation, their duly authorized and constituted proxies or such other persons as the chairman of the meeting shall determine; (iv) restrictions on entry to the meeting after the time fixed for the
commencement thereof; and (v) limitations on the time allotted, if any, to questions or comments by participants in the meeting. Unless, and to the extent, determined by the Board of Directors or the chairman of the meeting, meetings of shareholders
shall not be required to be held in accordance with the rules of parliamentary procedure. Any person in attendance at a meeting of shareholders shall, at the time of gaining recognition from the chairman, state the name of the speaker, the number of
shares owned by the speaker, and if appearing in a representative capacity, produce satisfactory written evidence of the right of representation signed by a shareholder of record. Upon a failure to comply with this requirement, the chairman of the
meeting may ignore the speaker, and, if deemed necessary, request the sergeant-at-arms to remove the proposed speaker from the meeting. 
  
 (b) At any annual meeting of the shareholders, only such business shall be conducted as shall have been brought before the meeting (i) by or at the
direction of the Board of Directors or (ii) by any shareholder of the Corporation who is entitled to vote with respect thereto and who complies with the notice procedures set forth in this Section 1.9(b). For business to be properly brought before
an annual meeting by a shareholder, the shareholder must have given timely notice thereof in writing to the Secretary of the Corporation. To be timely, a shareholder’s notice must be delivered or mailed to and received at the principal
executive offices of the Corporation not less than one hundred twenty (120) days in advance of the month and day of the Corporation’s proxy statement released to shareholders in connection with the previous year’s annual meeting of the
shareholders. A shareholder’s notice to the Secretary shall set forth as to each matter such shareholder proposes to bring before the annual meeting (i) a brief description of the business desired to be brought before the annual meeting and the
reasons for conducting such business at the annual meeting, (ii) the name and address, as they appear on the Corporation’s books, of the shareholder who proposes such business, (iii) the class and number 
  

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 of shares of the Corporation’s capital stock that are beneficially owned by such shareholder and (iv) any material
interest of such shareholder in such business. Notwithstanding anything in these Bylaws to the contrary, no business shall be brought before or conducted at an annual meeting except in accordance with the provisions of this Section 1.9(b). The
Chairman of the Board or other person presiding over the annual meeting shall, if the facts so warrant, determine and declare to the meeting that business was not properly brought before the meeting in accordance with the provisions of this Section
1.9(b) and, if he or she should so determine, shall so declare to the meeting, and any such business so determined to be not properly brought before the meeting shall not be transacted. Notwithstanding the foregoing provisions, a shareholder shall
also comply with all applicable requirements of the Securities and Exchange Act of 1934 and the rules and regulations thereunder with respect to the matters set forth in this Section 1.9(b). 
  
 At any special meeting of the shareholders, only such business shall be
conducted as shall have been brought before the meeting by or at the direction of the Board of Directors. 
  
 (c) Only persons who are nominated in accordance with the procedures set forth in these Bylaws shall be eligible for election as directors. Nominations of
persons for election to the Board of Directors of the Corporation shall be made by the Corporation’s Nominating Committee, but also may be made at a meeting of shareholders at which directors are to be elected only (i) by or at the direction of
the Board of Directors or (ii) by any shareholder of the Corporation entitled to vote for the election of directors at the meeting who complies with the notice procedures set forth in this Section 1.9(c). Such nominations, other than those made by
the Corporation’s Nominating Committee or at the direction of the Board of Directors, shall be made by timely notice in writing to the Secretary of the Corporation. To be timely, a shareholder’s notice shall be delivered or mailed to and
received at the principal executive offices of the Corporation not less than one hundred twenty (120) days in advance of the month and day of the Corporation’s proxy statement released to shareholders in connection with the previous year’s
annual meeting of the shareholders. Such shareholder’s notice shall set forth (i) as to each person whom such shareholder proposes to nominate for election or re-election as a director, all information relating to such person that is required
to be disclosed in solicitations of proxies for election of directors, or is otherwise required, in each case pursuant to Rule 14A under the Securities Exchange Act of 1934, as amended (including such person’s written consent to being named in
the proxy statement as a nominee and to serving as a director if elected); (ii) as to each person whom such shareholder proposes to nominated for election or re-election as a director, all information, certifications, reports and submissions
required by the Office of Thrift Supervision, Federal Reserve Board, Virginia Bureau of Financial Institutions or any other regulatory agency with supervisory authority over the Corporation or any of its subsidiaries, or any successor to such a
regulatory agency, with respect to the designation of a new director of a holding company or financial institution regulated by such a regulatory agency; and (iii) as to the shareholder giving the notice (x) the name and address, as they appear on
the Corporation’s books, of such shareholder and (y) the class and number of shares of the Corporation’s capital stock that are beneficially owned by such shareholder. At the request of the Board of Directors, any person nominated by the
Board of Directors for election as a director shall furnish to the 
  

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 Secretary of the Corporation that information required to be set forth in a shareholder’s notice of nomination which
pertains to the nominee. No person shall be eligible for election as a director of the Corporation unless nominated in accordance with the provisions of this Section 1.9(c). The officer of the Corporation or other person presiding over the meeting
shall, if the facts so warrant, determine that a nomination was not made in accordance with such provisions and, if he or she should so determine, shall so declare to the meeting, and the defective nomination shall be disregarded. Notwithstanding
the foregoing provisions, a shareholder shall also comply with all applicable requirements of the Securities and Exchange Act of 1934 and the rules and regulations thereunder with respect to the matters set forth in this Section 1.9(c). 

 
 1.10 Voting of Shares. Each share entitled to vote on a matter at
any meeting of shareholders shall be entitled to one vote on each such matter submitted to a vote at such meeting. If a quorum exists, action on a matter, other than the election of directors, by a group of shares entitled to vote thereon is
approved if the votes for approval cast within the group exceed the votes cast opposing the action, unless a greater number of affirmative votes is required by law. 
  
 At each election of directors, every shareholder shall have the right to vote, in person or by proxy, the number of shares
which he or she is entitled to vote at said meeting, for as many persons as there are directors to be elected at said meeting, but cumulative voting shall not be permitted. 
  
 1.11 No Consent of Shareholders in Lieu of Meeting. Subject to the rights of the holders of any class or series of
preferred stock of the Corporation, any action required or permitted to be taken by the shareholders of the Corporation must be effected at an annual or special meeting of shareholders of the Corporation and may not be effected by any consent in
writing by such shareholders. 
  
 ARTICLE 2 
  
 BOARD OF DIRECTORS 
  
 2.1 General Powers. The business and affairs of the Corporation shall
be managed under the direction of its Board of Directors, the members of which need not be shareholders of the Corporation except as may be provided by law. 
  
 2.2 Number and Election. The number of members of the Board of Directors shall be fifteen (15) persons. The directors shall be divided into three
classes by the Board of Directors, each class to be as nearly equal in number as possible. Each director shall hold office for a term of three (3) years, or, if elected or appointed pursuant to Section 2.3 below in the interim between elections of
the directors in his or her class, for a term expiring as of the next annual meeting at which directors of his or her class will stand for election. In any event, unless sooner removed, directors shall serve until their successors are duly elected
and qualify. 
  

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 2.3 Vacancies. Any vacancy occurring on the Board of Directors, including a vacancy resulting from
an increase in the number of directors, may be filled by the affirmative vote of a majority of the remaining directors though such majority may be less than a quorum of the Board. No decrease in the number of authorized directors constituting the
Board of Directors shall shorten the term of any incumbent director. 
  
 2.4 Removal of Directors. At a meeting of shareholders called expressly for that purpose, any director may be removed and the resulting vacancy filled, with or without cause, only as provided in the Corporation’s Articles of
Incorporation. 
  
 Any director, upon reaching the age of seventy
(70) years, shall automatically, regardless 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. 
  
 2.5 Regular Meetings.
Regular meetings of the Board of Directors shall be held at such times, at least annually, as shall be specified by the Board of Directors by resolution from time to time. Such regular meetings may be held without notice of time, place and purpose
thereof. If not otherwise specified by resolution, the Board of Directors shall meet immediately following the annual meeting of shareholders in the location where the shareholders’ meeting was held. 
  
 2.6 Special Meetings. Special meetings of the Board of Directors may
be called by or at the request of the Chairman of the Board, the President or a majority of the directors. Notice of the time and place of each special meeting shall be given orally or in writing to each director. Such notice, if given in person, by
private carrier, telegram, or telephone, must be received at least forty-eight hours prior to such meeting, and, if given by mail, must be mailed postpaid and correctly addressed and postmarked at least six days prior to such meeting; provided that
if the notice is sent by registered or certified mail, the notice is sufficient if the receipt is signed by or on behalf of the addressee at least forty-eight hours prior to such meeting. Any director may waive notice of any meeting, and attendance
at or participation in any meeting shall constitute a waiver of notice of such meeting unless the director objects at the beginning of the meeting, or promptly upon his or her arrival, objects to holding it or to transacting business at the meeting
and does not thereafter vote for or assent to any action taken at the meeting. 
  
 2.7 Participation in Meetings by Conference Telephone. The Board of Directors may conduct any regular or special meetings by conference telephone or through the use of any means of communication by which all
directors may simultaneously hear each other during the meeting. 
  
 2.8 Quorum. A majority of the number of directors of the Corporation shall constitute a quorum for the transaction of business at any meeting of the Board. If a quorum is not present, a majority of those in attendance may adjourn the
meeting from time to time until a quorum is obtained. 
  

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 2.9 Manner of Acting; Action by Board of Directors without a Meeting. The act of the majority of
the directors present at a meeting at which a quorum is present shall be the act of the Board of Directors. Any action required to be taken at a meeting of directors, or any action which may be taken at a meeting of directors, may be taken without a
meeting if a consent in writing, setting forth the action so taken (and, if signed at a time other than at the time such action is to be effective, the consent states the dates on which each director signed) shall be signed before or after such
action by all of the directors. Such written consent shall have the same force and effect as a unanimous vote. 
  
 2.10 Compensation. By a resolution of the shareholders, or by the Board of Directors, the directors may be paid their expenses, if any, and a fixed
sum for attending each meeting of the Board of Directors and each meeting of a committee of the Board, and may, in addition, be paid an annual retainer and participate in the Corporation’s incentive stock option plan. No such payment or
participation shall preclude any director from serving the Corporation in any other capacity and receiving compensation therefor. 
  
 2.11 Presumption of Assent. A director of the Corporation who is present at a meeting of the Board of Directors when any action is taken is deemed
to have assented to the action taken unless he or she votes against or abstains from the action taken, or he or she has objected at the beginning of the meeting, or promptly upon his or her arrival, to the holding of the meeting or transacting
specified business at the meeting. Any such dissenting votes, abstentions or objections shall be entered in the minutes of the meeting. 
  
 ARTICLE 3 
  
 BOARD COMMITTEES 
  
 3.1 Membership. The Board of Directors shall appoint an Audit Committee, a Compensation Committee, a Nominating Committee and an Executive Committee, each of which shall consist of two or more directors as the
Board may from time to time prescribe. The entire Board may be constituted as any such committee. All members of committees shall serve at the pleasure of the Board of Directors. 
  
 3.2 Rules of Procedure. Except as otherwise provided in these Bylaws, each committee may select a chairman from its
membership and a secretary who may or may not be a member of the committee or of the Board. Subject to the requirements of law, each committee may prescribe the length of notice and manner of giving notice of its meetings, fix the number, not less
than a majority, which shall constitute a quorum, and make its own rules of procedure, but if the same are not so prescribed, fixed or made, then they shall be as provided under these Bylaws. 
  
 3.3 Notice. Unless a committee shall provide otherwise, it shall not
be necessary to give notice of any of its regular meetings. Special meetings may be held on call of the Chairman of the Board, the President, the chairman of the committee or any two members of the committee in such manner as prescribed by the
committee, but if not so prescribed, then in such manner as provided in these Bylaws for calling special meetings of the Board of Directors. 
  

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 3.4 Executive Committee. When the Board of Directors is not in session, the Executive Committee
shall have all power vested in the Board of Directors by law, by the Articles of Incorporation, or by these Bylaws, provided that the Executive Committee shall not have power to (i) approve or recommend to shareholders action that the Virginia Stock
Corporation Act requires to be approved by shareholders, (ii) fill vacancies on the Board or on any of its committees, (iii) amend the Corporation’s Articles of Incorporation, (iv) adopt, amend, or repeal any portion or all of these Bylaws, (v)
approve a plan of merger not requiring shareholder approval, (vi) authorize or approve a distribution, except according to a general formula or method prescribed by the Board of Directors, (vii) authorize or approve the issuance or sale or contract
for sale of shares, or determine the designation and relative rights, preferences, and limitations of a class or series of shares, except as may be specifically prescribed by the Board of Directors from time to time, or (viii) take any action
prohibited by express resolution of the Board. The Executive Committee shall report at the next regular or special meeting of the Board of Directors all action which the Executive Committee may have taken on behalf of the Board since the last
regular or special meeting of the Board of Directors. 
  
 ARTICLE 4 
  
 OFFICERS 
  
 4.1 Officers. The officers of the Corporation shall be a President, a
Chairman of the Board, a Secretary and a Treasurer. Such officers shall be appointed by and shall serve at the pleasure of the Board. In addition, the Corporation shall have such other officers, including a Chief Executive Officer, one or more Vice
Presidents, and other officers as may be appointed from time to time by the Board or by or under the authority set out in Article 5 below. All officers shall serve at the pleasure of, and may be dismissed by, the Board of Directors. Any two or more
offices may be held by the same person, except that the same person shall not be President and Secretary. 
  
 4.2 President. The President, subject to the control of the Board of Directors, shall have general power over the management and administration of
the Corporation’s business, policies and affairs, and shall possess such powers and perform such duties as are incident to the office. 
  
 4.3 Chairman of the Board. The Chairman of the Board shall preside at all board and shareholder meetings, shall make reports to the Board of
Directors and stockholders, and shall perform all such other duties as are incident to the office, or properly required by the Board of Directors. In the absence or disability of the Chairman of the Board, the President shall exercise all the
functions of the Chairman’s office, except that the Board of Directors may designate a substitute chairman to preside at a meeting of the shareholders. 
  

 8 

 4.4 Secretary. The Secretary shall serve as secretary of the Board of Directors. The Secretary
shall keep the minutes of all meetings of the shareholders and the Board of Directors, attend to serving and giving all notices of the Corporation; have charge of the corporate seal, the stock certificate records and such other books, records and
papers as the Board of Directors may direct; keep a stock record containing the names of all persons who are shareholders of the Corporation, showing their place of residence, the number of shares of stock held by them, and the time when they became
owners thereof; and perform such other duties as may be incident to the office or as may be prescribed by the Chairman of the Board or the President. If Assistant Secretaries are appointed, each such officer shall be authorized to perform the
functions of the Secretary upon the request or absence of the Secretary. 
  
 4.5 Treasurer. If appointed, the Treasurer shall keep or cause to be kept full and accurate accounts of all receipts and disbursements in books belonging to the Corporation; shall have the care and custody of
all funds and securities of the Corporation; shall disburse the funds of the Corporation as may be ordered by the Board of Directors, the Chairman of the Board or the President; and shall perform such other duties as may be incident to the office or
as may be prescribed by the Chairman of the Board or the President. If Assistant Treasurers are appointed, each such officer shall be authorized to perform the functions of the Treasurer upon the request or absence of the Treasurer. 
  
 4.6 Other Officers. Other officers of the Corporation appointed in
accordance with these Bylaws shall have such authority and duties, and shall be entitled to such compensation, as may be prescribed by the Board of Directors or by the officer appointing them or, if no prescription has been specifically made by the
Board of Directors or appointing officer, as may generally pertain to their respective offices. 
  
 4.7 Execution of Instruments. Checks, notes, drafts, other commercial instruments, assignments, guarantees of signatures and contracts (except as
otherwise provided herein or by law) shall be executed by the Chairman of the Board, the President, or any Vice President or such officer(s) or employee(s) or agent(s) as the Board of Directors or any of such designated officers may direct.

  
 ARTICLE 5 
  
 EMPLOYEES AND OTHER OFFICERS 
  
 5.1 Employees and Other Officers. Subject to the authority of the
Board of Directors, the President may appoint such officers, and the President or any other officer authorized by the President or the Board may employ such agents, assistant officers and employees other than officers, as the President or such other
officer may deem advisable for the prompt and orderly transaction of the business of the Corporation. Any officer so doing may define the duties of such agents and employees (or, in the case of the President, such officers), fix their compensation
and dismiss them. Such officer is authorized, on behalf of the Corporation, to execute any agency, employment, or other such agreements which may be necessary and proper to effect the employment of such agent or employee (or, in the case of the
President, such officers). 
  

 9 

 ARTICLE 6 
  

CERTIFICATES OF STOCK AND THEIR TRANSFER 
  
 6.1 Certificate of Stock. Each shareholder shall be entitled to a certificate or certificates of stock in such form as may be approved by the Board
of Directors. Such certificates shall be signed by the Chairman of the Board, by the President or a Vice President, and by the Secretary, an Assistant Secretary or the Treasurer or any Assistant Treasurer, certifying the number of shares owed by
such shareholder. All transfers of stock of the Corporation shall be made upon its books by surrender of the certificate for the shares transferred accompanied by an assignment in writing by the holder and may be accomplished either by the holder in
person or by a duly authorized attorney in fact. In case of the loss, theft, mutilation or destruction of a certificate of stock, a duplicate certificate may be issued upon such terms not in conflict with law as the Board of Directors may prescribe.

  
 6.2 Transfer Agents. The Board of Directors may appoint
one or more transfer agents and registrars and may require stock certificates to be countersigned by a transfer agent or registered by a registrar or may require stock certificates to be both countersigned by a transfer agent and registered by a
registrar. If certificates of capital stock of the Corporation are signed by a transfer agent or by a registrar (other than the Corporation itself or one of its employees), the signature thereon of the officers of the Corporation and the seal of the
Corporation thereon may be facsimiles, engraved or printed. In case any officer or officers who shall have signed, or whose facsimile signature or signatures shall have been used on, any such certificate or certificates shall cease to be such
officer or officers of the Corporation, whether because of death, resignation or otherwise, such certificate or certificates may nevertheless be issued and delivered as though the person or persons who signed such certificate or certificates or
whose facsimile signature or signatures shall have been used thereon had not ceased to be such officer or officers of the Corporation. 
  
 6.3 Stock Redemption. Subject to applicable law and regulations, the Corporation may from time to time purchase, hold and resell shares of its own
stock when the Board of Directors considers that it is in the Corporation’s best interests to do so. 
  
 All purchases and sales by the Corporation of its own stock shall be at prices, terms, and amounts as the Board of Directors from time to time shall
determine are in the best interests of the Corporation, its shareholders and all other interested parties. The Board may, but is not required to, determine the purchase price by third party appraisal. Corporation stock purchased by the Corporation
may be held or retired and canceled in the discretion of the Board of Directors. All purchases and sales by the Corporation of its own stock shall comply with all applicable state and federal laws, including regulations of the Board of Governors of
the Federal Reserve System regarding purchases of its own shares by a bank holding company. 
  

 10 

 ARTICLE 7 
  

WAIVER OF NOTICE 
  
 7.1 Waiver. Unless otherwise provided by law, whenever any notice is required to be given to any shareholder or director of the Corporation under
the provisions of these Bylaws, a waiver thereof in writing, signed by the person or persons entitled to such notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice. 
  
 ARTICLE 8 
  
 FISCAL YEAR 
  
 8.1 Fiscal Year. The fiscal year of the Corporation shall be the
calendar year unless otherwise fixed by the Board of Directors. 
  
 ARTICLE 9 
  
 SHARES OF OTHER CORPORATIONS

  
 9.1 Voting. The President is authorized to vote,
represent, and exercise on behalf of the Corporation all rights incident to any and all shares of any other corporation or corporations standing in the name of the Corporation. The authority herein granted to said officer to vote or represent on
behalf of the Corporation any and all shares held by the Corporation in any other corporation or corporations may be exercised either by said officer in person or by any person authorized so to do by proxy or power of attorney duly executed by said
officer. Notwithstanding the above, however, the Board of Directors, in its discretion, may designate by resolution any additional person to vote or represent said shares of other corporations. 
  
 ARTICLE 10 
  
 SEAL 
  
 10.1 Seal. The seal of the Corporation, if any, shall be in such form as may be approved from time to time by the
Board of Directors and said seal, or a facsimile thereof, may be imprinted or affixed by any process or in any manner reproduced. The Secretary or Treasurer, any Assistant Secretary or Assistant Treasurer and any other officer authorized by
resolution of the Board of Directors shall be empowered to affix and attest the corporate seal on all documents. 
  

 11 

 ARTICLE 11 
  
 AMENDMENTS 
  
 11.1 Amendments. Unless otherwise provided by law or indicated herein, these Bylaws or any of them may be altered, amended, or repealed and new
Bylaws made by the Board of Directors or the shareholders at any regular meeting, at any special meeting where such action has been announced in the call and notice of such meeting, or by the unanimous consent in writing of the Board of Directors in
lieu of a meeting. 
  
 ARTICLE 12 
  
 INDEMNIFICATION AND LIMITATION OF LIABILITY 
  
 12.1 Limitation of Liability. To the fullest extent that the Virginia
Stock Corporation Act, as it exists on the date hereof or may hereafter be amended, permits the limitation or elimination of the liability of directors or officers of the Corporation in any proceeding brought by or in the right of a corporation or
by or on behalf of shareholders of the Corporation, and provided that a director or officer shall not have engaged in (i) any breach of his or her duty of loyalty to the Corporation, (ii) acts or omissions not in good faith or which involve gross
negligence, willful misconduct or a knowing violation of law, or (iii) any transactions from which the director or officer derived an improper or personal benefit, then such director or officer shall not be liable to the Corporation for monetary
damages. 
  
 12.2 Indemnification. To the fullest extent
permitted and in the manner prescribed by the Virginia Stock Corporation Act, any other applicable law and the Corporation’s Articles of Incorporation, the Corporation shall indemnify, against all liability incurred in a proceeding, (and
advance reasonable expenses to) any director or officer of the Corporation who is, was, or is threatened to be made a party to any such threatened, pending, or completed action, suit, or proceeding (whether civil, criminal, administrative,
arbitrative, or investigative), including an action by or in the right of the Corporation, by reason of the fact that he or she is or was such a director or officer or is or was serving at the request of the Corporation as a director, officer,
employee, or agent of another corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise. The Board of Directors is empowered, by majority vote of a quorum of disinterested directors, to contract in advance to
indemnify any director or officer. 
  
 12.3 Other Persons.
The Board of Directors is empowered, by majority vote of a quorum of disinterested directors, to cause the Corporation to indemnify, or contract in advance to indemnify, (and advance reasonable expenses to) any person not specified in Section 12.1
or Section 12.2 hereof who was or is a party to any proceeding by reason of the fact that he or she is or was an employee or agent of the Corporation or is or was serving at the request of the Corporation as a director, officer, employee, or agent
of another corporation, partnership, joint venture, employee benefit plan, or other enterprise, to the same extent as if such person were specified as one to whom indemnification is granted in Section 12.1 or Section 12.2 hereof. 
  

 12 

 12.4 Insurance. The Corporation may purchase and maintain insurance to indemnify it against the
whole or any portion of the liability assumed by it in accordance with this Article 12 and may also procure insurance, in such amounts as the Board of Directors may determine, on behalf of any person who is or was a director, officer, employee, or
agent of another corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, against any liability asserted against or incurred by such person in any such capacity or arising from his or her status as such, whether or
not the Corporation would have power to indemnify him or her against such liability under the provisions of this Article 12. 
  
 12.5 Scope. The provisions of this Article 12 shall be applicable to all actions, claims, suits, or proceedings commenced after the proper adoption
hereof, whether arising from any action taken or failure to act before or after such adoption. No amendment, modification, or repeal of this Article shall diminish the rights or protection provided hereby with respect to any claim, issue, or matter
in any then pending or subsequent proceeding that is based in any material respect on any alleged action or failure to act prior to such amendment, modification, or repeal. 
  
 12.6 Continuous Coverage. Reference herein to directors, officer, employees, or agents, shall include former
directors, officers, employees, and agents, and their respective heirs, executors, and administrators. 
  
 ARTICLE 13 
  
 NO CONFLICT 
  
 13.1 No Conflict. If, at
any time, there is any inconsistency or conflict between these Bylaws and the provisions of the Code of Virginia, as the same may be amended from time to time, the contrary provisions of the Code of Virginia shall take precedence over and govern the
conduct of the Corporation. Wherever these Bylaws do not cover a particular situation, the applicable provisions of the Code of Virginia shall apply with the same force and effect as set forth herein. 
  
 END OF DOCUMENT 
  

 13

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