Section 10Sec./Art. 10

President and Vice Presidents; Appointment and Removal; Salaries. The chief operating officer of the Veterans Bank shall be the President who shall be chosen by the Board of Directors. The President shall be assisted by such number of Vice Presidents who shall be elected and may be removed by the Board of Directors. The President and the Vice Presidents shall possess practical experience in banking and finance as top executives, at least ten (10) years for the President and at least five (5) years for the Vice Presidents. The salaries of the President and the Vice Presidents shall be reasonable, and shall be set and approved by the Board of Directors in accordance with applicable laws and sound corporate governance practices.