CEP 2.4 has one...it may be the one linked. Not sure. I use a custom one.
Some interesting things to remember from learning from the players as well as my own testing:
1) In my system, the penalties are applied as supernatural effects. Death removes supernatural effects, so any respawn scripts should reapply the penalties.
2) I believe the default restore spells (lesser restore, restore, and gr restore) are set up to remove all penalties, including supernatural. These would need to be modified to exclude supernatural
3) OnUnequip does not always fire correctly if the PC is running/moving when he removes armor. This happens more than you might think. As a result, if the player re-equips, they get a double-dose of movement penalties (the first one didn't get removed and a second one is now applied). What I did was develop a command (I use SIM Tools) that players could use to remove/reset the racial/armor encumbrance if that happens, but this could be done via any other player tool/convo.
That's all I can remember for now. If I think of anything else, I'll add it.