Attached files
| file | filename |
|---|---|
| EX-10.3 - FIRST COMMUNITY BANKSHARES INC /VA/ | v205949_ex10-3.htm |
| EX-10.2 - FIRST COMMUNITY BANKSHARES INC /VA/ | v205949_ex10-2.htm |
| EX-10.1 - FIRST COMMUNITY BANKSHARES INC /VA/ | v205949_ex10-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
|
December
16, 2010
|
||
|
Date
of Report (Date of earliest event reported)
|
|
FIRST
COMMUNITY BANCSHARES, INC.
|
||
|
(Exact
name of registrant as specified in its charter)
|
|
Nevada
|
000-19297
|
55-0694814
|
||
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
P.O.
Box 989
Bluefield,
Virginia
|
24605-0989
|
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
|
(276)
326-9000
|
||
|
(Registrant’s
telephone number, including area code)
|
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Item
5.02
|
Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers
|
On
December 16, 2010 the registrant and participants amended the First Community
Bancshares, Inc. 2001 Directors Supplemental Retirement Plan (the “Plan”) in
order to comply with IRC Section 409(A) and to provide for certain changes in
the benefit formula, and various other provisions. The plan amendment
substitutes a defined benefit in lieu of the previous indexed
benefit. The Plan participants include all current directors with the
exception of Franklin P. Hall.
The
amended Plan provides for an annual retirement benefit of 100% of the highest
consecutive three years average compensation. Benefits are payable at
normal retirement age 70 and continue for ten years. Full vesting is
attained upon completion of 15 years of service. A copy of the
amended Plan is attached hereto as Exhibit 10.1.
Also on
December 16, 2010, the Board of Directors, in concert with the Compensation and
Retirement Committee, amended the employment contract of Chief Executive Officer
John M. Mendez. The amendment waives the contract’s provision for
standard cost of living increases. Additionally, the First Community
Bancshares, Inc. 2000 Executive Retention Plan, as amended, was amended with
respect to Mr. Mendez so as to remove the annual maximum benefit.
A copy of
Mr. Mendez’s employment contract amendment and SERP amendment are attached
hereto as Exhibit 10.2 and 10.3, respectively.
|
Item
9.01
|
Financial
Statements and Exhibits
|
(d)
The following exhibits are included with this report:
|
Exhibit No.
|
Exhibit Description
|
|
|
10.1
|
First
Community Bancshares, Inc. 2001 Directors Supplemental Retirement Plan, as
amended
|
|
|
10.2
|
John
M. Mendez Waiver Agreement
|
|
|
10.3
|
Amendment
to the Amended First Community Bancshares, Inc. 2000 Executive Retention
Plan
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
|
FIRST
COMMUNITY BANCSHARES, INC.
|
||||
|
Date:
|
December
17, 2010
|
By:
|
/s/
David D. Brown
|
|
|
David
D. Brown
|
||||
|
Chief
Financial Officer
|
||||