Document:

Exhibit
10.35

    

    AMENDMENT
NUMBER ONE TO

    SALARY
CONTINUATION AGREEMENT

    

    This
Amendment Number One is made as of December 30, 2008, to the Salary Continuation
Agreement dated as of March 14, 2007 (the “Agreement”), by and between Southern
Community Bank and Trust and Jeffrey T. Clark (“Executive”).

    

    1.  The
Agreement is amended by adding the following Paragraph:

    

    “7.16.   Compliance
with ESSA. To the extent that any payment under this Agreement would
constitute a prohibited parachute payment under Section 111(b)(2)(C) of the
Emergency Economic Stabilization Act of 2008 (“EESA”), the Bank agrees to pay
Executive an additional payment equal to the prohibited payment on July 1, 2012,
or if later, the earliest date when Section 111(b)(2)(C) of EESA no longer
prohibits such payment.  Such payment shall be made in a single lump
sum in cash, without interest.  The Executive may be entitled to
severance payments from multiple agreements and plans with the
Bank.  The Bank, it its sole discretion, shall determine which
payments shall be delayed in order to comply with
ESSA.   Notwithstanding anything in this paragraph to the
contrary, the additional amounts due under the Agreement shall not be paid if
the Treasury Department or other governmental agency issues guidance subsequent
to the date of this Agreement that would prohibit such payment.  A
prohibited parachute payment shall be interpreted in a manner that is consistent
with Notice 2008-TAAP, Notice 2008-94 and all other current or future guidance
issued  pursuant to Section 111(b)(2)(C) of EESA or Section 280G(e) of
the Internal Revenue Code of 1986, as amended.”

    

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

    

    IN WITNESS WHEREOF, the
parties have executed this Amendment as of the day and year first written
above.

    

    
      
        
          
            	
                    SOUTHERN
      COMMUNITY BANK AND TRUST

                  
	 
      
	
                    By:

                  	
                    /s/ F. Scott
      Bauer

                  
	 
      	
                    F.
      Scott Bauer, CEO

                  
	 
      

          

        

      

      
        
          	
                  EXECUTIVE

                
	 
      
	
                   /s/ Jeffrey T.
      Clark

                	
                  (SEAL)

                
	
                  Jeffrey
      T. ClarkExhibit
10.36

    

    AMENDMENT
NUMBER ONE TO

    SALARY
CONTINUATION AGREEMENT

    

    This
Amendment Number One is made as of December 30, 2008, to the Salary Continuation
Agreement dated as of June 4, 2008 (the “Agreement”), by and between Southern
Community Bank and Trust and James Hastings (“Executive”).

    

    1.  The
Agreement is amended by adding the following Paragraph:

    

    “7.16.   Compliance
with ESSA. To the extent that any payment under this Agreement would
constitute a prohibited parachute payment under Section 111(b)(2)(C) of the
Emergency Economic Stabilization Act of 2008 (“EESA”), the Bank agrees to pay
Executive an additional payment equal to the prohibited payment on July 1, 2012,
or if later, the earliest date when Section 111(b)(2)(C) of EESA no longer
prohibits such payment.  Such payment shall be made in a single lump
sum in cash, without interest.  The Executive may be entitled to
severance payments from multiple agreements and plans with the
Bank.  The Bank, it its sole discretion, shall determine which
payments shall be delayed in order to comply with
ESSA.   Notwithstanding anything in this paragraph to the
contrary, the additional amounts due under the Agreement shall not be paid if
the Treasury Department or other governmental agency issues guidance subsequent
to the date of this Agreement that would prohibit such payment.  A
prohibited parachute payment shall be interpreted in a manner that is consistent
with Notice 2008-TAAP, Notice 2008-94 and all other current or future guidance
issued  pursuant to Section 111(b)(2)(C) of EESA or Section 280G(e) of
the Internal Revenue Code of 1986, as amended.”

    

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

    

    IN WITNESS WHEREOF, the
parties have executed this Amendment as of the day and year first written
above.

    

    
      
        	
                SOUTHERN
      COMMUNITY BANK AND TRUST

              
	 
      
	
                By:

              	
                /s/ Jeff T.
      Clark

              
	 
      	
                Jeff
      T. Clark, President

              
	 
      

      

    

    
      
        	
                EXECUTIVE

              
	 
      
	
                /s/ James Hastings

              	
                (SEAL)

              
	
                James
      HastingsExhibit
10.37

    

    AMENDMENT
NUMBER ONE TO

    EMPLOYMENT
AGREEMENT

    

    This
Amendment Number One is made as of December 30, 2008, to the Employment
Agreement dated as of June 4, 2008 (the “Agreement”), by and between Southern
Community Bank and Trust and Southern Community Financial Corporation and James
Hastings (“Executive”).

    

    1.  The
Agreement is amended by adding the following Paragraph:

    

    “8.12.   Compliance
with ESSA. To the extent that any payment under this Agreement would
constitute a prohibited parachute payment under Section 111(b)(2)(C) of the
Emergency Economic Stabilization Act of 2008 (“EESA”), the Employer agrees to
pay Executive an additional payment equal to the prohibited payment on July 1,
2012, or if later, the earliest date when Section 111(b)(2)(C) of EESA no longer
prohibits such payment.  Such payment shall be made in a single lump
sum in cash, without interest.  The Executive may be entitled to
severance payments from multiple agreements and plans with the
Employer.  The Employer, it its sole discretion, shall determine which
payments shall be delayed in order to comply with
ESSA.   Notwithstanding anything in this paragraph to the
contrary, the additional amounts due under the Agreement shall not be paid if
the Treasury Department or other governmental agency issues guidance subsequent
to the date of this Agreement that would prohibit such payment.  A
prohibited parachute payment shall be interpreted in a manner that is consistent
with Notice 2008-TAAP, Notice 2008-94 and all other current or future guidance
issued  pursuant to Section 111(b)(2)(C) of EESA or Section 280G(e) of
the Internal Revenue Code of 1986, as amended.”

    

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

    

    IN WITNESS WHEREOF, the
parties have executed this Amendment as of the day and year first written
above.

    

    
      
        
          	
                  SOUTHERN
      COMMUNITY FINANCIAL CORPORATION

                
	 
      
	 
      	
                  By:

                	
                  /s/ Jeff T.
      Clark

                
	 
      	 
      	
                  Jeff
      T. Clark, President

                
	 
      
	
                  SOUTHERN
      COMMUNITY BANK AND TRUST

                
	 
      
	 
      	
                  By:

                	
                  /s/ Jeff T. Clark

                
	 
      	 
      	
                  Jeff
      T. Clark, President

                
	 
      

        

      

    

    
      
        
          	
                  EXECUTIVE

                
	 
      
	 
      	
                   /s/ James
      Hastings

                	
                  (SEAL)

                
	 
      	
                  James
      HastingsExhibit
10.38

    

    AMENDMENT
NUMBER TWO TO

    EMPLOYMENT
AGREEMENT

    

    This
Amendment Number Two is made as of December 30, 2008, to the Employment
Agreement dated as of April 28, 2006 (the “Agreement”), by and between Southern
Community Bank and Trust and Southern Community Financial Corporation and F.
Scott Bauer (“Executive”).

    

    1.  The
Agreement is amended by adding the following Paragraph:

    

    “8.12.   Compliance
with ESSA. To the extent that any payment under this Agreement would
constitute a prohibited parachute payment under Section 111(b)(2)(C) of the
Emergency Economic Stabilization Act of 2008 (“EESA”), the Employer agrees to
pay Executive an additional payment equal to the prohibited payment on July 1,
2012, or if later, the earliest date when Section 111(b)(2)(C) of EESA no longer
prohibits such payment.  Such payment shall be made in a single lump
sum in cash, without interest.  The Executive may be entitled to
severance payments from multiple agreements and plans with the
Employer.  The Employer, it its sole discretion, shall determine which
payments shall be delayed in order to comply with
ESSA.   Notwithstanding anything in this paragraph to the
contrary, the additional amounts due under the Agreement shall not be paid if
the Treasury Department or other governmental agency issues guidance subsequent
to the date of this Agreement that would prohibit such payment.  A
prohibited parachute payment shall be interpreted in a manner that is consistent
with Notice 2008-TAAP, Notice 2008-94 and all other current or future guidance
issued  pursuant to Section 111(b)(2)(C) of EESA or Section 280G(e) of
the Internal Revenue Code of 1986, as amended.”

    

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

    

    IN WITNESS WHEREOF, the
parties have executed this Amendment as of the day and year first written
above.

    

    
      
        	
                SOUTHERN
      COMMUNITY FINANCIAL CORPORATION

              
	 
      
	 
      	
                By:

              	
                /s/ Jeff T.
      Clark

              
	 
      	 
      	
                Jeff
      T. Clark, President

              
	 
      
	
                SOUTHERN
      COMMUNITY BANK AND TRUST

              
	 
      
	 
      	
                By:

              	
                /s/ Jeff T.
      Clark

              
	 
      	 
      	
                Jeff
      T. Clark, President

              
	 
      

      

    

    
      
        	
                EXECUTIVE

              
	 
      
	 
      	
                 /s/ F. Scott Bauer

              	
                (SEAL)

              
	 
      	
                F.
      Scott Bauer

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