I-Bankers Securities, Inc. Maxim Group LLC Legend Merchant Group, Inc. c/o I-Bankers Securities, Inc. 1560 East Southlake Boulevard, Suite 232 Southlake, TX 76092 Re: Community Bankers Acquisition Corp. Gentlemen:Warrant Purchase Agreement • April 21st, 2006 • Community Bankers Acquisition Corp. • Blank checks
This letter will confirm the agreement of Gary A. Simanson and David Zalman, on the one hand (the “Stockholders”), and I-Bankers Securities, Inc. (“I-Bankers”), Maxim Group LLC and Legend Merchant Group, Inc., (collectively, the “Representatives”), on the other hand, with respect to the purchase of certain warrants to purchase common stock (“Warrants”) of Community Bankers Acquisition Corp. (the “Company”) included in the units (comprised of one share of common stock and one warrant to purchase common stock) being sold in the Company’s initial public offering (“IPO”) upon the terms and conditions set forth herein. The shares of Common Stock and Warrants will not be separately tradable until 90 days after the effective date of the Company’s IPO, unless I-Bankers, on behalf of the Representatives, informs the Company of their decision to allow earlier separate trading.
