Document:

Amendment to Survivor Income Agreement and Split Dollar Addendum to Survivor
      Income Agreement

    Exhibit
      10.1

     

    AMENDMENT
      TO SURVIVOR INCOME AGREEMENT AND SPLIT DOLLAR ADDENDUM TO SURVIVOR INCOME
      AGREEMENT

     

    This
      Amendment to Survivor Income Agreement and Split Dollar Addendum to Survivor
      Income Agreement is entered into this 30th day of April, 2007 by COMMUNITY
      BANKS, INC. (“Company”) and DONALD F. HOLT (“Executive”).

     

    BACKGROUND:

     

    A. On
      August 29, 2002, Company and Executive entered into a Survivor Income Agreement
      (“Agreement”), which incorporated and was supplemented by a Split Dollar
      Addendum to Community Banks, Inc. Survivor Income Agreement
      (“Addendum”).

     

    B. The
      parties wish to make certain amendments to the Agreement and
      Addendum
      in order to make those documents
      consistent with substantially similar agreements between Company and other
      executive officers of Company.

     

    NOW
      THEREFORE, in exchange for valuable consideration and intending to be legally
      bound, the parties hereby agree as follows:

     

    1.  Modification
      of Article 1 of Agreement.
      Article 1 of the Agreement is hereby modified to include the following
      additional Section 1.4:

     

    1.4
      Change
      of Control.
      Notwithstanding any other provision of this Agreement, in the event of a Change
      of Control (as defined below), the Company or its successor shall maintain
      in
      full force and effect this Agreement and the related life insurance policy
      that
      is in existence on the date the Change of Control occurs and, in no event shall
      the Company or its successor terminate or otherwise abrogate the Executive’s
      interest in the life insurance policy; provided, however, that at all times
      the
      life insurance policy shall be subject to the claims of the Company’s creditors.

     

    Change
      of Control shall mean: 

     

    (a) A
      reorganization, merger, consolidation or sale of substantially all of the assets
      of the Company, or a similar transaction in which the Company is not the
      resulting entity; or 

     

    (b) Individuals
      who constitute the Incumbent Board (as herein defined) of the Company cease
      for
      any reason to constitute a majority of the Board of Directors. For these
      purposes, “Incumbent Board” shall mean the members of the Board of Directors of
      the Company on the effective date hereof. Any person 

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    becoming
      a member of the Board of Directors subsequent to such effective date, whose
      election was approved by a vote of at least three-quarters (3/4) of the members
      of the Board of Directors comprising the Incumbent Board, or whose nomination
      for election by members or shareholders was approved by the same nominating
      committee serving under the Incumbent Board, shall be considered as though
      he or
      she were a member of the Incumbent Board.

     

    2.  Modification
      of Introduction to Addendum.
      The section of the Addendum bearing the heading “Introduction” is hereby
      modified to provide in its entirety as follows:

     

    Under
      the terms of the Survivor Income Agreement between the Executive and the
      Company, effective on the 29th
      day of August, 2002, the parties desire to divide the death proceeds of a life
      insurance policy on the Executive’s life.

     

    3.  Other.
      Except as specifically modified herein, the terms and conditions of the
      Agreement and Addendum remain in full force and effect. This Amendment is hereby
      appended to and made a part of the Agreement and Addendum.

     

    IN
      WITNESS WHEREOF, the Executive and a duly authorized representative of the
      Company have executed this Amendment as of the date first written
      above.

     

    
      	
              COMMUNITY
                BANKS, INC.

               

               

              By:
                /s/Eddie
                L. Dunklebarger

              Eddie
                L. Dunklebarger, President and CEO

            	 	
              WITNESS:

               

               

               

            
	 	 	 
	
              EXECUTIVE:

               

               

              /s/
                Donald F. Holt

              Donald
                F. Holt

            	 	
              WITNESS:

               

               

               

            

    

    
       

       

      
        
           

        

        
          2Amendment to Survivor Income Agreement and Split Dollar Addendum to Survivor
      Income Agreement

    Exhibit
      10.2

     

    AMENDMENT
      TO SURVIVOR INCOME AGREEMENT AND SPLIT DOLLAR ADDENDUM TO SURVIVOR INCOME
      AGREEMENT

     

    This
      Amendment to Survivor Income Agreement and Split Dollar Addendum to Survivor
      Income Agreement is entered into this 30th day of April, 2007 by COMMUNITYBANKS,
      successor in interest to Community Banks, N.A. (“Company”), and ROBERT W. LAWLEY
      (“Executive”).

     

    BACKGROUND:

     

    A. On
      June 1, 1994, Company and Executive entered into the Community Banks, N.A.
      Survivor Income Agreement (“Agreement”), which incorporated and was supplemented
      by a Split Dollar Addendum to Community Banks, N.A. Survivor Income Agreement
      (“Addendum”).

     

    B. The
      parties wish to make certain amendments to the Agreement and Addendum, in order
      to make those documents consistent with substantially similar agreements between
      Company and other executive officers of Company.

     

    NOW
      THEREFORE, in exchange for valuable consideration and intending to be legally
      bound, the parties hereby agree as follows:

     

    1.  Modification
      of Article 1 of Agreement.
      Article 1 of the Agreement is hereby modified to include the following
      additional Section 1.4:

     

    1.4
      Change
      of Control.
      Notwithstanding any other provision of this Agreement, in the event of a Change
      of Control (as defined below), the Company or its successor shall maintain
      in
      full force and effect this Agreement and the related life insurance policy
      that
      is in existence on the date the Change of Control occurs and, in no event shall
      the Company or its successor terminate or otherwise abrogate the Executive’s
      interest in the life insurance policy; provided, however, that at all times
      the
      life insurance policy shall be subject to the claims of the Company’s creditors.

     

    Change
      of Control shall mean: 

     

    (a) A
      reorganization, merger, consolidation or sale of substantially all of the assets
      of Community Banks, Inc., the Company’s sole shareholder (“Community”), or a
      similar transaction in which Community is not the resulting entity; or

     

    (b) Individuals
      who constitute the Incumbent Board (as herein defined) of Community cease for
      any reason to constitute a majority of the Board of Directors. For these
      purposes, “Incumbent Board” shall mean the members of the Board of Directors of
      Community on the effective date hereof. Any person becoming a member of the
      Board of Directors subsequent to such effective date, whose election was
      approved by a vote of at least three-quarters (3/4) of the members of the Board
      of Directors comprising the Incumbent Board, or whose nomination for election
      by
      members or shareholders was approved by the same 

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    nominating
      committee serving under the Incumbent Board, shall be considered as though
      he or
      she were a member of the Incumbent Board.

     

    2.  Modification
      of Article 5 of the Agreement.
      Article 5 of the Agreement is hereby modified to provide, in its entirety,
      as
      follows:

     

    If
      the Executive voluntarily terminates employment after attaining the age of
      sixty-five (65) and completes ten (10) years of service, or terminates
      employment subsequent to a change of control (as defined herein), unless the
      Executive elects otherwise by written notice to the Company, the Split Dollar
      Insurance Agreement attached as the Addendum to this Agreement shall
      automatically take effect as of the Executive’s termination of employment. The
      Company shall take all actions necessary to implement the Split Dollar Insurance
      Agreement.

     

    3.  Modification
      of Article 6 of the Agreement.
      Article 6 of the Agreement is hereby modified to provide, in its entirety,
      as
      follows:

     

    Except
      as provided in Section 1.4 of this Agreement, the Company may amend or terminate
      this Agreement at any time prior to the Executive’s death by written notice to
      the Executive.

     

    4.  Other.
      Except as specifically modified herein, the terms and conditions of the
      Agreement and Addendum remain in full force and effect. This Amendment is hereby
      appended to and made a part of the Agreement and Addendum.

     

    IN
      WITNESS WHEREOF, the Executive and a duly authorized representative of the
      Company have executed this Amendment as of the date first written
      above.

     

    
      	
              CommunityBanks

               

               

               

              By:
                /s/
                Eddie L. Dunklebarger 

              Eddie
                L. Dunklebarger, President and CEO

            	 	
              WITNESS:

               

               

               

               

            
	 	 	 
	
              EXECUTIVE:

               

               

               

              /s/
                Robert W. Lawley 

              Robert
                W. Lawley

            	 	
              WITNESS:

               

               

               

               

            

    

    
       

      
        
           

        

        
          2

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