FORM OF INVESTOR OPTION AGREEMENTNontransferable Option Agreement • May 17th, 2004 • Community Bancshares Inc /De/ • State commercial banks • Alabama
THIS OPTION AGREEMENT (this “Agreement”) is dated as of , and is entered into by and between Community Bancshares, Inc., a Delaware corporation (the “Company”), and the Holder named above (the “Holder,” and, together with the Company, the “Parties”)). The option (“Option”) represented by this Agreement is being granted to the Holder in consideration of, and as an inducement to, the Holder’s purchase of shares (such shares, the “Shares”) of the Company’s common stock, par value $0.10 per share (the “Common Stock”), pursuant to the terms of a Subscription Agreement, dated as of the date hereof, by and between the Parties (the “Subscription Agreement”), at a total purchase price equal to the total purchase price set forth above (the “Purchase Price”).
