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
Date of Report (Date of earliest event reported): May 30, 2006
COMMUNITY BANCSHARES, INC.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 0-16461 | 63-0868361 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
68149 Main Street, Blountsville, Alabama 35031
(Address of Principal Executive Offices, including Zip Code)
(205) 429-1000
(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 communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement.
On May 30, 2006, Community Bank, a subsidiary of Community Bancshares, Inc. (the “Company”), and Community Bank’s subsidiary, Community Insurance Corp., entered into a consulting agreement (the “Agreement”) with Scott Head, a director of the Company, pursuant to which Mr. Head will provide management and business development services to Community Insurance Corp.
Pursuant to General Instruction F to the Securities and Exchange Commission’s Form 8-K, the Agreement is attached to this Current Report on Form 8-K as Exhibit 10.1, and the information contained in the Agreement is incorporated into this Item 1.01 by this reference.
Item 9.01. Financial Statements and Exhibits.
| (c) | Exhibits. |
The following exhibit is filed herewith:
| Exhibit No. | Description | |
| 10.1 | Agreement for Management and Business Development Services dated May 30, 2006 by and between Community Insurance Corp., Community Bank and Scott Head |
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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 hereunto duly authorized.
| COMMUNITY BANCSHARES, INC. |
| /s/ Patrick M. Frawley |
| Patrick M. Frawley |
| Chairman, Chief Executive Officer and |
| President |
Date: June 1, 2006
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INDEX TO EXHIBITS
| Exhibit No. | Description | |
| 10.1 | Agreement for Management and Business Development Services dated May 30, 2006 by and between Community Insurance Corp., Community Bank and Scott Head |