Exhibit
      10.3

    


    AMENDMENT
      NUMBER ONE TO

    EMPLOYMENT
      AGREEMENT

    


    This
      Amendment Number One is made as of September 14, 2007, to the Employment
      Agreement dated as of April 16, 2007 (the “Agreement”), by and between Southern
      Community Bank and Trust and James C. Monroe. This Amendment is being made
      solely to conform the provisions of the Agreement with the requirements of
      Section 409A of the Internal Revenue Code of 1986, as amended.

    


    1.
      Paragraph 10(d) of the Agreement is amended to read as follows:

    “For
      the
      purposes of this Agreement, the term Change in Control shall mean any of the
      following events:

    (i)
      Any
      person, or more than one person acting as a group, accumulates ownership of
      Southern Community Financial Corporation’s common stock constituting more than
      50% of the total fair market value or total voting power of Southern Community
      Financial Corporation’s common stock,

     

    (ii)
      Any
      person, or more than one person acting as a group, acquires within a 12-month
      period ownership of Southern Community Financial Corporation common stock
      possessing 30% or more of the total voting power of Southern Community Financial
      Corporation’s common stock;

     

    (iii)
      A
      majority of Southern Community Financial Corporation’s Board of Directors is
      replaced during any 12-month period by directors whose appointment or election
      is not endorsed in advance by a majority of Southern Community Financial
      Corporation’s Board of Directors before the date of appointment or election,
      or

     

    (iv)
      Within a 12-month period, any person, or more than one person acting as a group,
      acquires assets from Southern Community Financial Corporation having a total
      gross fair market value equal to or exceeding 40% of the total gross fair market
      value of all of the assets of Southern Community Financial Corporation
      immediately before the acquisition or acquisitions. For this purpose, “gross
      fair market value” means the value of Southern Community Financial Corporation’s
      assets, or the value of the assets being disposed of, determined without regard
      to any liabilities associated with the assets.

     

    Notwithstanding
      the other provisions of this Paragraph 10, a transaction or event shall not
      be
      considered a Change in Control if, prior to the consummation or occurrence
      of
      such transaction or event, the Officer and the Bank agree in writing that the
      same shall not be treated as a Change in Control for purposes of this
      Agreement.” 

    


    2.
      No
      other terms and conditions of the Agreement are affected by this
      Amendment.

    


    IN
      WITNESS WHEREOF,
      the
      parties have executed this Amendment (Southern Community Bank and Trust by
      its
      duly authorized officer) effective as of the day and year first written
      above.

    

      
        
          	 	SOUTHERN
                  COMMUNITY BANK AND TRUST
	 	 	 	 
	 	 	
                  By:

                	
                  /s/
                    F. Scott
                    Bauer            
                    

                
	 	 	
                   

                	
                  
                    F.
                      Scott Bauer, CEO

                  

                


        


        
          	 	
                  
                    OFFICER

                  

                
	 	 	 
	 	/s/
                  James C. Monroe, Jr.                                              
                  (SEAL)
	 	
                  James
                    C. Monroe, Jr.