Amendment No. 2 to Community Bancshares, Inc. Benefit Restoration Plan

Summary

Community Bancshares, Inc. amends its Benefit Restoration Plan to stop the accrual of additional benefits after December 31, 2003. From January 1, 2004 onward, participants will only be entitled to the benefits they had earned as of December 31, 2003. This amendment is executed by the company's authorized officers and is effective as of December 31, 2003.

EX-10.27 4 dex1027.htm BENEFIT RESTORATION PLAN, AMENDMENT 2 Benefit Restoration Plan, Amendment 2

EXHIBIT 10.27

AMENDMENT NUMBER 2

TO THE

COMMUNITY BANCSHARES, INC. BENEFIT RESTORATION PLAN

(the “Plan”)

Pursuant to Section 7.2 of the Plan, Community Bancshares, Inc. hereby amends the Plan, effective as of December 31, 2003, by adding a new unnumbered paragraph at the end of Section 4.1 to read as follows:

Effective December 31, 2003, no additional benefits shall accrue under this Plan. A participant’s benefit on and after January 1, 2004 shall equal the participant’s benefit as of December 31, 2003.

IN WITNESS WHEREOF, Community Bancshares, Inc. has caused this Amendment Number 2 to be executed by its duly authorized officer as of this 23^rd day of October, 2003 to be effective as provided above.


COMMUNITY BANCSHARES, INC.

By:		/s/ Patrick M. Frawley
		Patrick M. Frawley
		Chairman, Chief Executive Officer and President

ATTEST:

/s/ William H. Caughran

Its Secretary