Exhibit 10(xxv)
MONROE BANCORP
EMPLOYEE STOCK OWNERSHIP PLAN
(As Amended and Restated Generally Effective as of January 1, 2007)
Krieg DeVault LLP One Indiana Square, Suite 2800 Indianapolis, IN 46204-2079 www.kriegdevault.com
ADOPTION OF
MONROE BANCORP
EMPLOYEE STOCK OWNERSHIP PLAN
(As Amended and Restated Generally Effective as of January 1, 2007)
Pursuant to resolutions adopted by the Board of Directors of Monroe Bancorp (the "Company") on December
20, 2007, the undersigned officers of the Company hereby adopt the Monroe Bancorp Employee Stock
Ownership Plan (As Amended and Restated Generally Effective as of January 1, 2007) on behalf of the
Company, in the form attached hereto.
Dated this 20th day of December, 2007.
MONROE BANCORP
By: /s/ Mark D. Bradford
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Mark D. Bradford, President/CEO
ATTEST:
By: /s/ R. Scott Walters
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R. Scott Walters, Secretary
TABLE OF CONTENTS
Section Page
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ARTICLE I INTRODUCTION....................................................... 1
Section 1.1 Purposes........................................................ 1
Section 1.2 Effective Date ................................................. 1
Section 1.3 Employers and Affiliates ....................................... 2
Section 1.4 Plan Administration; Plan Year ................................. 2
Section 1.5 Funding of Benefits............................................. 2
Section 1.6 Examination of Documents........................................ 2
Section 1.7 Plan Supplements................................................ 2
Section 1.8 Definition References .......................................... 2
ARTICLE II PARTICIPATION AND SERVICE..........................