Document:

Exhibit 4.2

 Exhibit 4.2 
  
 INDEPENDENT BANKS OF VIRGINIA, INC. 
  
 ARTICLES OF AMENDMENT 
  
 (a) The name of the corporation is: 
  
 Independent Banks of Virginia, Inc. 
  
 (b) This amendment adopted pursuant to Section 13.1-55 (f) of the Code of Virginia, 1950, as amended, is to change Article 4 of the Articles of
Incorporation to read as follows: 
  
 “4. The aggregate
number of shares which the corporation shall have the authority to issue and the par value per share are as follows: 
  

					
	 Class

	 	 Number of Shares

	 	 Par Value-Shares

	 Common Stock
	 	1,000,000	 	$5.00”

  
 (c) The Board of
Directors, on October 23, 1985, and November 27, 1985, found the amendment to be in the best interest of the corporation. The stockholders adopted the amendment on December 27, 1985, at a special meeting of stockholders called for that purpose.

  
 (d) All 265,709 of the issued and outstanding shares of the
corporation’s voting common stock were entitled to vote. 
  
 (e) 196,452 of the eligible shares were voted in favor of the amendment and 300 were voted against the amendment. 
  
 (f) The amendment increases the five hundred thousand (500,000) authorized shares of $5.00 par value common stock to one million (1,000,000) shares of
$5.00 par value common stock. 
  

 1 

 (g) On December 2, 1985, written notice accompanied by a copy of the proposed amendment was mailed,
postage prepaid, to each and every one of the stockholders at his address as it appears on the corporation’s stock transfer books. All notices were deposited in the U. S. mail on December 2, 1985. 
  
 (h) The amendment does not effect a restatement of the Articles of
Incorporation. 
  
 Signed in the City of Norfolk, Virginia, this
27th day of December, 1985. 
  

	
	 INDEPENDENT BANKS OF VIRGINIA, INC.

	
	 /s/    C. Phillips Kraemer

	

	C. Phillips Kraemer, President
	
	 /s/    Robert C. Stackhouse

	

	Robert C. Stackhouse, Secretary

  

 2Exhibit 4.3

 Exhibit 4.3 
  
 INDEPENDENT BANKS OF VIRGINIA, INC. 
  
 ARTICLES OF AMENDMENT 
  
 A. The name of the corporation is: Independent Banks of Virginia, Inc. 
  
 B. This amendment adopted pursuant to Section 13.1-707 of the Code of Virginia, 1950, as amended is to amend Article 4 and
to add Article 7 to the Articles of Incorporation to read as follows: 
  
 “ARTICLE 4 
  
 The aggregate number of shares which
the Corporation shall have the authority to issue and the par value per share are as follows: 
  

					
	 Class

	 	 Number of Shares

	 	 Par Value-Shares

	 Common Stock
	 	3,000,000	 	$5.00”

  
 “ARTICLE 14

  
 (1) In this Article: 
  
 “officer” or “director” means any person serving as an
officer or director of the Corporation and/or its subsidiary banks. 
  
 “liability” means the obligation to pay a judgment, settlement, penalty, fine (including any excise tax assessed with respect to an employee benefit plan), or reasonable expenses incurred with respect to a proceeding. 

 
 “party” includes, without limitation, an individual who was,
is, or is threatened to be made a named defendant or respondent in a proceeding. 
  

 1 

 “proceeding” means any threatened, pending, or completed action, suit, or proceeding whether
civil, criminal, administrative, or investigative and whether formal or informal. 
  
 (2) To the full extent that the Virginia Stock Corporation Act, as it exists on the date hereof or as hereafter amended, permits the limitation or elimination of the liability of directors and officers, no director or
officer of the Corporation and/or its subsidiary banks made a party to any proceeding shall be liable to the Corporation or its stockholders for monetary damages arising out of any transaction, occurrence or course of conduct, whether occurring
prior or subsequent to the effective date of this Article. 
  
 (3) The provisions of this Article shall be applicable to all proceedings commenced after it becomes effective, arising from any act or omission, whether occurring before or after such effective date. No amendment or repeal of this Article
shall impair or otherwise diminish the rights provided under this Article (including those created by contract) with respect to any act or omission occurring prior to such amendment or repeal. 
  
 (4) The termination of any proceeding by judgment, order, settlement,
conviction, or upon a plea of nolo contendere or its equivalent, shall not of itself create a presumption that the director or officer did not meet any standard of conduct that is a prerequisite to the limitation or elimination of liability
provided in Section (2) of this Article. 
  

 2 

 (5) Every reference herein to directors, officers, employees or agents shall include former directors,
officers, employees and agents and their respective heirs, executors and administrators.” 
  
 C. The Board of Directors, on March 24, 1989, found the amendments to be in the best interest of the Corporation and recommended their adoption. The
stockholders adopted the amendments on May 18, 1989, at the annual meeting of stockholders. 
  
 D. All 769,630 of the issued and outstanding shares of the Corporation’s voting common stock were entitled to vote. 
  
 E. 454,307 of the eligible shares were voted in favor of the amendment to Article 4 to increase the aggregate number of shares to be issued by the
Corporation to 3,000,000, which vote was sufficient for approval of the amendment. 
  
 F. 464,372 of the eligible shares were voted in favor of the amendment to provide a limitation on the liability of the officers and directors of the Corporation and its subsidiary banks, which vote was sufficient for
approval of the amendment. 
  
 G. On April 18, 1989, written
notice accompanied by a copy of the proposed amendments were mailed, postage prepaid, to each and every one of the stockholders at his address as it appears on the Corporation stock transfer books. All notices were deposited in the U.S. Mail on
April 18, 1989. 
  
 H. The amendment does not affect a restatement
of the Articles of Incorporation. 
  
 Signed in the City of
Norfolk, Virginia, this 7th day of August, 1990. 
  

			
	 INDEPENDENT BANKS OF VIRGINIA

		
	 By:
	 	 /s/    Robert C. Stackhouse

	 	 	Robert C. Stackhouse, Secretary

  

 3Exhibit 4.4

 Exhibit 4.4 
  
 INDEPENDENT BANKS OF VIRGINIA, INC. 
  
 ARTICLES OF AMENDMENT 
  
 A. The name of the corporation is: Independent Banks of Virginia, Inc. 
  
 B. This amendment, adopted pursuant to Section 13.1-707 of the Code of Virginia, 1950, as amended, is to amend Article 1 of
the Articles of Incorporation to read as follows: 
  
 “ARTICLE
1 
  
 The name of the corporation is: HERITAGE
BANKSHARES, INC.” 
  
 C. The Board of Directors, on March 26,
1992, found the amendment to be in the best interest of the Corporation and recommended its adoption. The stockholders adopted the amendment on June 16, 1992, at the annual meeting of stockholders. 
  
 D. All 769,630 of the issued and outstanding shares of the Corporation’s
voting common stock were entitled to vote. 
  
 E. 474,860 of the
eligible shares were voted in favor of the amendment to Article 1 to change the name of the Corporation to Heritage Bankshares, Inc., which vote was sufficient for approval of the amendment. 
  
 F. On May 18, 1992, written notice accompanied by a copy of the proposed
amendment was mailed, postage prepaid, to each and every one of the stockholders at his address as it appears on the Corporation’s stock transfer books. All notices were deposited in the U. S. Mail on May 18, 1992. 
  
 G. The amendment does not affect a restatement of the Articles of
Incorporation. Signed in the City of Norfolk, Virginia, this 10th day of August, 1992. 
  

			
	 INDEPENDENT BANKS OF VIRGINIA, INC.
  

		
	By:	 	/s/    Robert C. Stackhouse        
	 	 	

	 	 	 Robert C. Stackhouse, Secretary

  

 1Exhibit 4.6

 Exhibit 4.6 
  
 1987 STOCK OPTION PLAN FOR EMPLOYEES 
 OF 
 INDEPENDENT BANKS OF VIRGINIA, INC. 
  
 PURPOSE OF THE PLAN 
  

	1.	The purposes of this Employees’ Stock Option Plan are to attract and retain the best available personnel for positions of substantial responsibility, to provide additional
incentive to all employees of the Company and to promote the success of Independent Banks of Virginia, Inc., and its subsidiaries. 

  
 DEFINITIONS 
  

	2.	As used herein the following definitions shall apply: 

  

	 	(a)	“Board” share mean the Board of directors of the Company. 

  

	 	(b)	“Common Stock” shall mean common stock, par value of $5.00 per share, of the Bank. 

  

	 	(c)	“Company” shall mean Independent Banks of Virginia, Inc. 

  

	 	(d)	“The Committee” shall mean the stock option committee. 

  

	 	(e)	“Employee” shall mean any person who is an officer of the Company or its banking subsidiaries with status of Vice President or higher. 

  

	 	(f)	“Option” shall mean a stock option granted pursuant to the Plan. One option shall be equivalent to one share of common stock of the Company. 

  

	 	(g)	“Share” shall mean the common stock of the Company. 

  

	 	(h)	“Optionee” shall mean an employee who receives an option. 

  

	3.	Subject to the provisions of this Plan, the maximum aggregate number of shares which may be optioned and sold under the Plan is 50,000 Shares. However, this number may be increased
by the Board of Directors. 

  
 ADMINISTRATION OF THE
PLAN 
  

	4.	The Plan shall be administered by the Board. 

  

	 	(a)	Procedural rules. 

 The Board may appoint a Committee
consisting of not less than three members of the Board to administer the plan on behalf of the Board, subject to such terms and conditions as the Board may prescribe. Once appointed, the committee shall continue to serve until otherwise directed by
the Board. From time to time, the Board may increase the size of the Committee and appoint additional members thereof, remove members (with or without cause) and appoint new members in substitution thereof, fill vacancies however caused and remove
all members of the Committee and, thereafter, directly administer the Plan. A 

 majority of the entire Committee shall constitute a quorum and the action of a majority of the members
present at any meeting at which a quorum is present shall be deemed the action of the Committee. 
  
 In addition, any decision or determination reduced to writing and signed by all of the members of the Committee shall be fully as effective as if it had
been made by the majority vote at a meeting duly called and held. The Committee may appoint a secretary to keep minutes at its meetings and may make such rules and regulations for the conduct of its business as it shall deem advisable. 

 
 As hereinafter used in this Plan and in any Option granted hereunder, the
term “Committee” shall refer to either the committee or the Board if no committee is then designated. 
  
 No employee receiving Options shall be eligible to serve on the committee. 
  

	 	(b)	Powers of the Committee. 

 Subject to the provisions of the
Plan, the committee shall have authority: 
  

	 	(i)	to determine the fair market value of the shares covered by each Option, the Employees to whom and the time or times at which Options shall be granted, and the number of shares to
be represented by each Option: 

	 	(ii)	to interpret the Plan: 

	 	(iii)	to prescribe, amend and rescind rules and regulations relating to the Plan: 

	 	(iv)	to accelerate any exercise date of any option: 

	 	(v)	to authorize any person to execute on behalf of the Company any instrument required to effectuate the grant of an Option previously granted by the committee: and

	 	(vi)	to make all other determinations deemed necessary or advisable for the administration of the Plan. 

  

	 	(c)	Effect of Committee’s Decisions. All decisions, determinations and interpretations of the Committee shall be final and binding on all Optionees and any other holders of any
Options granted under this Plan. 

  
 ELIGIBILITY

  

	5.	Options may be granted only to Employees. An Employee who has been granted an Option may, if he is eligible, be granted an additional Option or Options. 

  
 TERM OF THE PLAN 
  

	6.	The Plan shall become effective upon its adoption by the Board of directors and after it has been approved by vote of a majority of the outstanding shareholders of the Company, at a
regularly held stockholders’ meeting. 

  
 TERM
OF OPTION 
  

	7.	Unless otherwise provided or limited in the specific terms of the Option granted, the term of each option granted under the Plan shall be ten years from the date of grant thereof.

 OPTION PRICE 
  

	8.	The Option price for shares to be issued pursuant to any such Option granted under the Plan, shall be the price determined by the Committee. 

  
 PROCEDURE FOR EXERCISE OF OPTION 
  

	9.	Any Option granted hereunder shall be exercisable at such times and under such conditions as shall be permissible under the terms of the Plan and of the Option Agreement granted to
an Optionee. 

  
 An Option may not be exercised for
fractional Shares of the Shares of the Company. An Option shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the terms of the Option by the Person entitled to exercise the Option and
full payment of the Shares with respect to which the Option is exercised has been received by the Company. Until the issuance of the stock certificates (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to Optioned Shares notwithstanding the exercise of the Option. No adjustment will be made for a dividend or other
rights for which the record date is prior to the date the stock certificates are issued except as provided in Section 11 of the Plan. 
  
 NON-TRANSFERABILITY OF OPTONS 
  

	10.	An Option may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution to any person
other than to the Optionee’s spouse and may be exercised during the lifetime of the Optionee, only by such Optionee, or, if the Option has been sold, pledged, assigned, hypothecated, transferred, or disposed by such Optionee’s spouse.

  
 ADJUSTMENTS UPON CHANGES IN CAPITALIZATION

  

	11.	If all or any portion of an Option is exercised subsequent to any stock dividend, split-up, recapitalization, combination or exchange of shares, merger, consolidation, acquisition
of property or stock, separation, reorganization, or other similar change or transaction of or by the Company as a result of which shares of any class shall be issued in respect of outstanding Shares of the class covered by Option hereunder or
shares of the class covered by Options hereunder shall be changed into the same or a different number of Shares of the same or another class or classes, the person or persons so exercising such an Option shall receive, for the aggregate option price
payable upon such exercise of the Option, the aggregate number and class of shares equal to the number and class of Shares he would have had on the date of exercise had the shares been purchased for the same aggregate price on the date the Option
was granted and had not been disposed of, taking into consideration any such stock dividend, split-up, recapitalization, combination or exchange of share, merger, consolidation, acquisition of property or stock, separation, reorganization, or other
similar change or transaction; provided, however, that no fractional Share shall be issued upon any such exercise, and the aggregate price paid shall be appropriately reduced on account of any fractional Share not issued. 

 
 In the event of any such change in the Shares, the aggregate number and
class of Shares remaining available under the Plan shall be equal to the number and class of 

 Shares which a person, to whom an Option for all remaining available Shares had been granted on the date
preceding such change, would be entitled to receive as provided in this Section11. 
  
 TIME OF GRANTING OPTIONS 
  

	12.	The date of Grant of an Option under the Plan shall, for all purposes, be the date on which the Committee makes the determination granting such Option. Notice of the determination
shall be given to each Employee to whom an Option is so granted within a reasonable time after the date of such grant. 

  

	13.	(a) Amendment. The Board, without further approval of the stockholders, may amend the Plan from time to time in such respects as the Board may deem advisable; provided, however that
no amendment shall become effective (until approval of the stockholders) which: 

  

	 	(i)	increases (except in accordance with Section 11 of the Plan), the maximum number of shares for which Options may be granted under the Plan; or 

	 	(ii)	changes the standards of eligibility prescribed by Section 5 of the Plan. 

  

	 	(b)	Termination. The Board without further approval of the stockholders may at any time terminate the Plan. 

  

	 	(c)	Effect of Amendment or Termination. Any such amendment or termination of the Plan shall not affect Options already granted and such Options shall remain in full force and effect as
if this Plan had not been amended or terminated. 

  
 CONDITIONS UPON ISSUANCE OF SHARES 
  

	14.	Shares shall not be issued with respect to an Option granted under the Plan unless the exercise of such Option and the issuance and delivery of such Shares pursuant thereto shall
comply with all relevant provision of law, including, without limitation, the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, the rules and regulations promulgated thereunder, and the requirements of any stock
exchange upon which the Shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

  
 As a condition to the exercise of an option, the Company may require the person exercising such Option to represent and
warrant at the time of any such exercise that the Share are being purchased only for investment and without any present intention to sell or distribute such Share, if, in the opinion of counsel for the Bank, such a representation is required by any
of the aforementioned relevant provision of law. 
  
 RESERVATION OF
SHARES 
  

	15.	The Company during the term of this Plan, will at all times reserve and keep available, the number of Shares as shall be sufficient to satisfy the requirements of the Plan.

  
 Inability of the Company to obtain from any
regulatory body having jurisdiction authority deemed by the Company’s counsel to be necessary to the Lawful issuance and sale of any shares hereunder shall relieve the Company of any liability in respect of the non-issuance or sale of such
shares as to which such requisite authority shall not have been obtained.

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