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                                                                    EXHIBIT 10.1

                              BCSB BANKCORP, INC.
                            1999 STOCK OPTION PLAN


     1.  Purpose of the Plan.

     The purpose of this Plan is to advance the interests of the Company through
providing select key Employees and Directors of the Bank, the Company, and their
Affiliates with the opportunity to acquire Shares. By encouraging such stock
ownership, the Company seeks to attract, retain and motivate the best available
personnel for positions of substantial responsibility and to provide additional
incentives to Directors and key Employees of the Company or any Affiliate to
promote the success of the business.

     2.  Definitions.

     As used herein, the following definitions shall apply.

     (a) "Affiliate" shall mean any "parent corporation" or "subsidiary
corporation" of the Company, as such terms are defined in Section 424(e) and
(f), respectively, of the Code.

     (b) "Agreement" shall mean a written agreement entered into in accordance
with Paragraph 5(c).

     (c) "Awards" shall mean, collectively, Options and SARs, unless the context
clearly indicates a different meaning.

     (d) "Bank" shall mean Baltimore County Savings Bank, F.S.B.

     (e) "Board" shall mean the Board of Directors of the Company.

     (f) "Code" shall mean the Internal Revenue Code of 1986, as amended.

     (g) "Committee" shall mean not only the Stock Option Committee consisting
of at least two Non-Employee Directors appointed by the Board in accordance with
Paragraph 5(a) hereof, but also the Board.

     (h) "Common Stock" shall mean the common stock of the Company.

     (i) "Company" shall mean BCSB Bankcorp, Inc.

     (j) "Continuous Service" shall mean the absence of any interruption or
termination of service as an Employee or Director of the Company or an
Affiliate.  Continuous Service shall not be considered interrupted in the case
of sick leave, military leave or any other leave of absence approved by the
Company, in the case of transfers between payroll locations of the Company or
between the Company, an Affiliate or a successor, or in the case of a Director's
performance of services in an emeritus or advisory capacity.

     (k) "Director" shall mean any member of the Board, and any member of the
board of directors of any Affiliate that the Board has by resolution designated
as being eligible for participation in this Plan.

     (l) "Disability" shall mean a physical or mental condition, which in the
sole and absolute discretion of the Committee, is reasonably expected to be of
indefinite duration and to substantially prevent a Participant from fulfilling
his or her duties or responsibilities to the Company or an Affiliate.

     (m) "Effective Date" shall mean the date specified in Paragraph 14 hereof.

     (n) "Employee" shall mean any person employed by the Company, the Bank, or
an Affiliate.
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     (o)   "Exercise Price" shall mean the price per Optioned Share at which an
Option or SAR may be exercised.

     (p)   "ISO" shall mean an option to purchase Common Stock which meets the
requirements set forth in the Plan, and which is intended to be and is
identified as an "incentive stock option" within the meaning of Section 422 of
the Code.

     (q)   "Market Value" shall mean the fair market value of the Common Stock,
as determined under Paragraph 8(b) hereof.

     (r)   "Non-Employee Director" shall have the meaning provided in Rule 16b-
3.

     (s)   "Non-ISO" means an option to purchase Common Stock which meets the
requirements set forth in the Plan but which is not intended to be and is not
identified as an ISO.

     (t)   "Option" means an ISO and/or a Non-ISO.

     (u)   "Optioned Shares" shall mean Shares subject to an Award granted
pursuant to this Plan.

     (v)   [reserved].

     (w)   "Participant" shall mean any person who receives an Award pursuant to
the Plan.

     (x)   "Plan" shall mean this BCSB Bankcorp, Inc. 1999 Stock Option Plan.

     (y)   "Rule 16b-3" shall mean Rule 16b-3 of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended.

     (z)   "Share" shall mean one share of Common Stock.

     (aa)  "SAR" (or "Stock Appreciation Right") means a right to receive the
appreciation in value, or a portion of the appreciation in value, of a specified
number of shares of Common Stock.

     (bb)  "Year of Service" shall mean a full twelve-month period, measured
from the date of an Award and each annual anniversary of that date, during which
a Participant has not terminated Continuous Service for any reason.

     3.    Term of the Plan and Awards.

     (a)   Term of the Plan. The Plan shall continue in effect for a term of ten
years from the Effective Date, unless sooner terminated pursuant to Paragraph 16
hereof. No Award shall be granted under the Plan after ten years from the
Effective Date.

     (b)   Term of Awards. The term of each Award granted under the Plan shall
be established by the Committee, but shall not exceed 10 years; provided,
however, that in the case of an Employee who owns Shares representing more than
10% of the outstanding Common Stock at the time an ISO is granted, the term of
such ISO shall not exceed five years.

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     4.    Shares Subject to the Plan.

     (a)   General Rule.  Except as otherwise required under Paragraph 11, the
aggregate number of Shares deliverable pursuant to Awards shall not exceed
228,660 Shares, which equals 10% of the Shares issued by the Company to the
public in connection with the Bank's mutual holding company reorganization ("MHC
Reorganization"). Such Shares may either be authorized but unissued Shares,
Shares held in treasury, or Shares repurchased on the open market and held in a
grantor trust created by the Company.  If any Awards should expire, become
unexercisable, or be forfeited for any reason without having been exercised, the
Optioned Shares shall, unless the Plan shall have been terminated, be available
for the grant of additional Awards under the Plan.

     (b)   Special Rule for SARs.  The number of Shares with respect to which an
SAR is granted, but not the number of Shares which the Company delivers or could
deliver to an Employee or individual upon exercise of an SAR, shall be charged
against the aggregate number of Shares remaining available under the Plan;
provided, however, that in the case of an SAR granted in conjunction with an
Option, under circumstances in which the exercise of the SAR results in
termination of the Option and vice versa, only the number of Shares subject to
the Option shall be charged against the aggregate number of Shares remaining
available under the Plan.  The Shares involved in an Option as to which option
rights have terminated by reason of the exercise of a related SAR, as provided
in Paragraph 10 hereof, shall not be available for the grant of further Options
under the Plan.

     5.    Administration of the Plan.

     (a)   Appointment of the Committee. The Plan shall be administered by the
Committee. Members of the Committee shall serve at the pleasure of the Board. In
the absence at any time of a duly appointed Committee, the Plan shall be
administered by the Board.

     (b)   Powers of the Committee.  Except as limited by the express provisions
of the Plan or by resolutions adopted by the Board, the Committee shall have
sole and complete authority and discretion (i) to select Participants and grant
Awards, (ii) to determine the form and content of Awards to be issued in the
form of Agreements under the Plan, (iii) to interpret the Plan, (iv) to
prescribe, amend and rescind rules and regulations relating to the Plan, and (v)
to make other determinations necessary or advisable for the administration of
the Plan.  The Committee shall have and may exercise such other power and
authority as may be delegated to it by the Board from time to time.  A majority
of the entire Committee shall constitute a quorum and the action of a majority
of the members present at any meeting at which a quorum is present, or acts
approved in writing by a majority of the Committee without a meeting, shall be
deemed the action of the Committee.

     (c)   Agreement.  Each Award shall be evidenced by a written agreement
containing such provisions as may be approved by the Committee.  Each such
Agreement shall constitute a binding contract between the Company and the
Participant, and every Participant, upon acceptance of such Agreement, shall be
bound by the terms and restrictions of the Plan and of such Agreement.   The
terms of each such Agreement shall be in accordance with the Plan, but each
Agreement may include such additional provisions and restrictions determined by
the Committee, in its discretion, provided that such additional provisions and
restrictions are not inconsistent with the terms of the Plan.  In particular,
the Committee shall set forth in each Agreement (i) the Exercise Price of an
Option or SAR, (ii) the number of Shares subject to the Award, and its
expiration date, (iii) the manner, time, and rate (cumulative or otherwise) of
exercise or vesting of such Award, and (iv) the restrictions, if any, to be
placed upon such Award, or upon Shares which may be issued upon exercise of such
Award.  The Chairman of the Committee and such other Directors and officers as
shall be designated by the Committee are hereby authorized to execute Agreements
on behalf of the Company and to cause them to be delivered to the recipients of
Awards.

     (d)   Effect of the Committee's Decisions.  All decisions, determinations
and interpretations of the Committee shall be final and conclusive on all
persons affected thereby.

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     (e)   Indemnification.  In addition to such other rights of indemnification
as they may have, the members of the Committee shall be indemnified by the
Company in connection with any claim, action, suit or proceeding relating to any
action taken or failure to act under or in connection with the Plan or any
Award, granted hereunder to the full extent provided for under the Company's
governing instruments with respect to the indemnification of Directors.

     6.    Grant of Options to Employees.

     (a)   General Rule.  Only Employees and Directors shall be eligible to
receive Awards.  In selecting those Employees to whom Awards will be granted and
the number of shares covered by such Awards, the Committee shall consider the
position, duties and responsibilities of the eligible Employees, the value of
their services to the Company and its Affiliates, and any other factors the
Committee may deem relevant.  Notwithstanding the foregoing, the Committee shall
automatically make the Awards specified in Paragraphs 6(b) and 7 hereof.

     (b)   Automatic Grants to Employees.  On the Effective Date, each of the
following Employees shall receive an Option (in the form of an ISO, to the
extent permissible under the Code) to purchase the number of Shares listed
below, at an Exercise Price per Share equal to the Market Value of a Share on
the Effective Date; provided that such grant shall not be made to an Employee
whose Continuous Service terminates on or before the Effective Date:

                                            Number of Shares
                 Participant          Reserved under Paragraph 4(a)
                 -----------          -----------------------------
                 Gary C. Loraditch               10,000
                 William M. Loughran             10,000

With respect to each of the above-named Participants, the Option granted to the
Participant hereunder (i) shall vest in accordance with the general rule set
forth in Paragraph 9(a) of the Plan, (ii) shall have a term of ten years from
the Effective Date, and (iii) shall be subject to the general rule set forth in
Paragraph 9(c) with respect to the effect of a Participant's termination of
Continuous Service on the Participant's right to exercise his Options.

     (c)   Special Rules for ISOs. The aggregate Market Value, as of the date
the Option is granted, of the Shares with respect to which ISOs are exercisable
for the first time by an Employee during any calendar year (under all incentive
stock option plans, as defined in Section 422 of the Code, of the Company or any
present or future Affiliate of the Company) shall not exceed $100,000.
Notwithstanding the foregoing, the Committee may grant Options in excess of the
foregoing limitations, in which case Options granted in excess of such
limitation shall be Non-ISOs.

7.   Grants of Options to Non-employee Directors

     (a) Automatic Grants.  Notwithstanding any other provisions of this Plan,
each Director who is a Non-Employee Director on the Effective Date shall
receive, on said date, Non-ISOs to purchase Shares as follows:

          Participant           Number of Shares Reserved under Paragraph 4(a)
          -----------           ----------------------------------------------
          H. Adrian Cox                            10,000
          Frank W. Dunton                          10,000
          Henry V. Kahl                            10,000
          John J. Panzer                           10,000
          P. Louis Rohe                            10,000


          Advisory Director     Number of Shares Reserved under Paragraph 4(a)
          -----------------     ----------------------------------------------
          Martin F. Meyer                          10,000

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     Such Non-ISOs shall have an Exercise Price per Share equal to the Market
Value of a Share on the date of grant.

     (b) Terms of Exercise.  Options received under the provisions of this
Paragraph (i) shall become exercisable in accordance with paragraph 9(a) of the
Plan, and (ii) may be exercised from time to time by written notice of intent to
exercise the Option with respect to all or a specified number of the Optioned
Shares, and payment to the Company (contemporaneously with the delivery of such
notice), in cash, in Common Stock, or a combination of cash and Common Stock, of
the amount of the Exercise Price for the number of the Optioned Shares with
respect to which the Option is then being exercised.  Each such notice and
payment shall be delivered, or mailed by prepaid registered or certified mail,
addressed to the Treasurer of the Company at the Company's executive offices.

     Options granted under this Paragraph shall have a term of ten years;
provided that Options granted under this Paragraph shall expire one year after
the date on which a Director terminates Continuous Service on the Board for a
reason other than death, but in no event later than the date on which such
Options would otherwise expire.  In the event of such Director's death during
the term of his directorship, Options granted under this Paragraph shall be
immediately exercisable, and may be exercised within two years from the date of
his death by the personal representatives of his estate or person or persons to
whom his rights under such Option shall have passed by will or by laws of
descent and distribution, but in no event later than the date on which such
Options would otherwise expire.  In the event of such Director's Disability
during his or her directorship, the Director's Option shall be immediately
exercisable, and such Option may be exercised within one year of the termination
of directorship due to Disability, but not later than the date that the Option
would otherwise expire.  Unless otherwise inapplicable or inconsistent with the
provisions of this Paragraph, the Options to be granted to Directors hereunder
shall be subject to all other provisions of this Plan.

     (c) Effect of the Committee's Decisions.  The Committee's determination
whether a Participant's Continuous Service has ceased, and the effective date
thereof, shall be final and conclusive on all persons affected there  by.

     8.  Exercise Price for Options.

     (a) Limits on Committee Discretion.  The Exercise Price as to any
particular Option shall not be less than 100% of the Market Value of the
Optioned Shares on the date of grant.  In the case of an Employee who owns
Shares representing more than 10% of the Company's outstanding Shares of Common
Stock at the time an ISO is granted, the Exercise Price shall not be less than
110% of the Market Value of the Optioned Shares at the time the ISO is granted.

     (b) Standards for Determining Exercise Price.  If the Common Stock is
listed on a national securities exchange (including the NASDAQ National Market
System) on the date in question, then the Market Value per Share shall be the
average of the highest and lowest selling price on such exchange on such date,
or if there were no sales on such date, then the Exercise Price shall be the
mean between the bid and asked price on such date.  If the Common Stock is
traded otherwise than on a national securities exchange on the date in question,
then the Market Value per Share shall be the mean between the bid and asked
price on such date, or, if there is no bid and asked price on such date, then on
the next prior business day on which there was a bid and asked price.  If no
such bid and asked price is available, then the Market Value per Share shall be
its fair market value as determined by the Committee, in its sole and absolute
discretion.

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     9.  Exercise of Options.

     (a)  Generally. Unless otherwise provided by the Committee, each Award to a
Participant shall become 25% exercisable on each of the four succeeding
anniversary dates of the grant date that the Participant maintains Continuous
Service thereon.   An Option may not be exercised for a fractional Share.
Notwithstanding the foregoing, an Award shall become fully vested and
exercisable upon a change in control or upon the termination of a Participant
due to the Participant's death, Disability, or retirement at or after age 65.

     For the purpose of this Paragraph 9(a), "change in control" shall mean:

           (i)  the acquisition of ownership, holding or power to vote more than
     25% of the Bank's or the Company's voting stock;

          (ii)  the acquisition of the ability to control the election of a
     majority of the Bank's or the Company's directors;

          (iii) the acquisition of a controlling influence over the management
     or policies of the Bank or the Company by any person or by persons acting
     as a "group" (within the meaning of Section 13(d) of the Securities
     Exchange Act of 1934); or

          (iv)  during any period of two consecutive years, individuals (the
     "Continuing Directors") who at the beginning of such period constitute the
     Board of Directors of the Bank or the Company (the "Existing Board") cease
     for any reason to constitute at least two-thirds thereof, provided that any
     individual whose election or nomination for election as a member of the
     Existing Board was approved by a vote of at least two-thirds of the
     Continuing Directors then in office shall be considered a Continuing
     Director.

     Notwithstanding the foregoing, in the case of (i), (ii) and (iii) hereof,
ownership or control of the Bank by the Company itself shall not constitute a
Change of Control.  For purposes of this paragraph only, the term "person"
refers to an individual or a corporation, partnership, trust, association, joint
venture, pool, syndicate, sole proprietorship, unincorporated organization or
any other form of entity not specifically listed herein.  The decision of the
Bank's continuing directors as to whether or not a Change of Control has
occurred shall be conclusive and binding.

     (b)  Procedure for Exercise.  A Participant may exercise Options, subject
to provisions relative to its termination and limitations on its exercise, only
by (1) written notice of intent to exercise the Option with respect to a
specified number of Shares, and (2) payment to the Company (contemporaneously
with delivery of such notice) in cash, in Common Stock, or a combination of cash
and Common Stock, of the amount of the Exercise Price for the number of Shares
with respect to which the Option is then being exercised.  Each such notice (and
payment where required) shall be delivered, or mailed by prepaid registered or
certified mail, addressed to the Treasurer of the Company at its executive
offices.  Common Stock utilized in full or partial payment of the Exercise Price
for Options shall be valued at its Market Value at the date of exercise.

     (c)  Period of Exercisability.  Except to the extent otherwise provided in
the terms of an Agreement, an Option may be exercised by a Participant only
while he is an Employee and has maintained Continuous Service from the date of
the grant of the Option, or within one year after termination of such Continuous
Service (but not later than the date on which the Option would otherwise
expire), except if the Employee's Continuous Service terminates by reason of --

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          (1)  "Just Cause" which for purposes hereof shall have the meaning set
     forth in any unexpired employment or severance agreement between the
     Participant and the Bank and/or the Company (and, in the absence of any
     such agreement, shall mean termination because of the Employee's personal
     dishonesty, incompetence, willful misconduct, breach of fiduciary duty
     involving personal profit, intentional failure to perform stated duties,
     willful violation of any law, rule or regulation (other than traffic
     violations or similar offenses) or final cease-and-desist order), then the
     Participant's rights to exercise such Option shall expire on the date of
     such termination; or

          (2)  death, then to the extent that the Participant would have been
     entitled to exercise the Option immediately prior to his death, such Option
     of the deceased Participant may be exercised within two years from the date
     of his death (but not later than the date on which the Option would
     otherwise expire) by the personal representatives of his estate or person
     or persons to whom his rights under such Option shall have passed by will
     or by laws of descent and distribution.

     (d)  Effect of the Committee's Decisions.  The Committee's determination
whether a Participant's Continuous Service has ceased, and the effective date
thereof, shall be final and conclusive on all persons affected thereby.

     (e)  Mandatory Six-Month Holding Period.  Notwithstanding any other
provision of this Plan to the contrary, common stock of the Company that is
purchased upon exercise of an Option or SAR may not be sold within the six-month
period following the grant of that Option or SAR.

     10.  SARs (Stock Appreciation Rights)

     (a) Granting of SARs.  In its sole discretion, the Committee may from time
to time grant SARs to Employees either in conjunction with, or independently of,
any Options granted under the Plan.  An SAR granted in conjunction with an
Option may be an alternative right wherein the exercise of the Option terminates
the SAR to the extent of the number of shares purchased upon exercise of the
Option and, correspondingly, the exercise of the SAR terminates the Option to
the extent of the number of Shares with respect to which the SAR is exercised.
Alternatively, an SAR granted in conjunction with an Option may be an additional
right wherein both the SAR and the Option may be exercised.  An SAR may not be
granted in conjunction with an ISO under circumstances in which the exercise of
the SAR affects the right to exercise the ISO or vice versa, unless the SAR, by
its terms, meets all of the following requirements:

     (1) The SAR will expire no later than the ISO;

     (2) The SAR may be for no more than the difference between the Exercise
     Price of the ISO and the Market Value of the Shares subject to the ISO at
     the time the SAR is exercised;

     (3) The SAR is transferable only when the ISO is transferable, and under
     the same conditions;

     (4) The SAR may be exercised only when the ISO may be exercised; and

     (5) The SAR may be exercised only when the Market Value of the Shares
     subject to the ISO exceeds the Exercise Price of the ISO.

     (b) Exercise Price.  The Exercise Price as to any particular SAR shall not
be less than the Market Value of the Optioned Shares on the date of grant.

     The provisions of Paragraph 9(c) regarding the period of exercisability of
Options are incorporated by reference herein, and shall determine the period of
exercisability of SARs.

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     (c)  Exercise of SARs.  An SAR granted hereunder shall be exercisable at
such times and under such conditions as shall be permissible under the terms of
the Plan and of the Agreement granted to a Participant, provided that an SAR may
not be exercised for a fractional Share.  Upon exercise of an SAR, the
Participant shall be entitled to receive, without payment to the Company except
for applicable withholding taxes, an amount equal to the excess of (or, in the
discretion of the Committee if provided in the Agreement, a portion of) the
excess of the then aggregate Market Value of the number of Optioned Shares with
respect to which the Participant exercises the SAR, over the aggregate Exercise
Price of such number of Optioned Shares.  This amount shall be payable by the
Company, in the discretion of the Committee, in cash or in Shares valued at the
then Market Value thereof, or any combination thereof.

     (d)  Procedure for Exercising SARs.  To the extent not inconsistent
herewith, the provisions of Paragraph 9(b) as to the procedure for exercising
Options are incorporated by reference, and shall determine the procedure for
exercising SARs.

     11.  Effect of Changes in Common Stock Subject to the Plan.

     (a)  Recapitalizations; Stock Splits, Etc.  The number and kind of shares
reserved for issuance under the Plan, and the number and kind of shares subject
to outstanding Awards, and the Exercise Price thereof, shall be proportionately
adjusted for any increase, decrease, change or exchange of Shares for a
different number or kind of shares or other securities of the Company which
results from a merger, consolidation, recapitalization, reorganization,
reclassification, stock dividend, split-up, combination of shares, or similar
event in which the number or kind of shares is changed without the receipt or
payment of consideration by the Company.

     (b)  Transactions in which the Company is Not the Surviving Entity.  In the
event of (i) the liquidation or dissolution of the Company, (ii) a merger or
consolidation in which the Company is not the surviving entity, or (iii) the
sale or disposition of all or substantially all of the Company's assets (any of
the foregoing to be referred to herein as a "Transaction"), all outstanding
Awards, together with the Exercise Prices thereof, shall be equitably adjusted
for any change or exchange of Shares for a different number or kind of shares or
other securities which results from the Transaction.

     (c)  Special Rule for ISOs.  Any adjustment made pursuant to subparagraphs
(a) or (b)(1) hereof shall be made in such a manner as not to constitute a
modification, within the meaning of Section 424(h) of the Code, of outstanding
ISOs.

     (d)  Conditions and Restrictions on New, Additional, or Different Shares or
Securities.  If, by reason of any adjustment made pursuant to this Paragraph, a
Participant becomes entitled to new, additional, or different shares of stock or
securities, such new, additional, or different shares of stock or securities
shall thereupon be subject to all of the conditions and restrictions which were
applicable to the Shares pursuant to the Award before the adjustment was made.

     (e)  Other Issuances.  Except as expressly provided in this Paragraph, the
issuance by the Company or an Affiliate of shares of stock of any class, or of
securities convertible into Shares or stock of another class, for cash or
property or for labor or services either upon direct sale or upon the exercise
of rights or warrants to subscribe therefor, shall not affect, and no adjustment
shall be made with respect to, the number, class, or Exercise Price of Shares
then subject to Awards or reserved for issuance under the Plan.

     (f)  Certain Special Dividends.  The Exercise Price of shares subject to
outstanding Awards shall be proportionately adjusted upon the payment of a
special large and nonrecurring dividend that has the effect of a return of
capital to the stockholders of the Company.

                                       8
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     12.  Non-Transferability of Awards.

     Awards may not be sold, pledged, assigned, hypothecated, transferred or
disposed of in any manner other than by will or by the laws of descent and
distribution.  Notwithstanding the foregoing, or any other provision of this
Plan, a Participant who holds Awards may transfer such Awards (but not Incentive
Stock Options) to his or her spouse, lineal ascendants, lineal descendants, or
to a duly established trust for the benefit of one or more of these individuals.
Awards so transferred may thereafter be transferred only to the Participant who
originally received the grant or to an individual or trust to whom the
Participant could have initially transferred the Awards pursuant to this
Paragraph 12.  Awards which are transferred pursuant to this Paragraph 12 shall
be exercisable by the transferee according to the same terms and conditions as
applied to the Participant.

     13.  Time of Granting Awards.

     The date of grant of an Award shall, for all purposes, be the later of the
date on which the Committee makes the determination of granting such Award, and
the Effective Date.  Notice of the determination shall be given to each
Participant to whom an Award is so granted within a reasonable time after the
date of such grant.

     14.  Effective Date.

     The Plan shall become effective immediately upon its approval by a
favorable vote of stockholders owning at least a majority of the total votes
eligible to be cast at a duly called meeting of the Company's stockholders held
in accordance with applicable laws.  No Awards may be made prior to approval of
the Plan by the stockholders of the Company.

     15.  Modification of Awards.

     At any time, and from time to time, the Board may authorize the Committee
to direct execution of an instrument providing for the modification of any
outstanding Award, provided no such modification shall confer on the holder of
said Award any right or benefit which could not be conferred on him by the grant
of a new Award at such time, or impair the Award without the consent of the
holder of the Award.

     16.  Amendment and Termination of the Plan.

     The Board may from time to time amend the terms of the Plan and, with
respect to any Shares at the time not subject to Awards, suspend or terminate
the Plan.  No amendment, suspension or termination of the Plan shall, without
the consent of any affected holders of an Award, alter or impair any rights or
obligations under any Award theretofore granted.

     17.  Conditions Upon Issuance of Shares.

     (a)  Compliance with Securities Laws.  Shares of Common Stock shall not be
issued with respect to any Award unless the issuance and delivery of such Shares
shall comply with all relevant provisions of law, including, without limitation,
the Securities Act of 1933, as amended, the rules and regulations promulgated
thereunder, any applicable state securities law, and the requirements of any
stock exchange upon which the Shares may then be listed.

     (b)  Special Circumstances. The inability of the Company to obtain approval
from any regulatory body or authority deemed by the Company's counsel to be
necessary to the lawful issuance and sale of any Shares hereunder shall relieve
the Company of any liability in respect of the non-issuance or sale of such
Shares. As a condition to the exercise of an Option or SAR, the Company may
require the person exercising the Option or SAR to make such representations and
warranties as may be necessary to assure the availability of an exemption from
the registration requirements of federal or state securities law.

                                       9
<PAGE>

     (c) Committee Discretion.  The Committee shall have the discretionary
authority to impose in Agreements such restrictions on Shares as it may deem
appropriate or desirable, including but not limited to the authority to impose a
right of first refusal or to establish repurchase rights or both of these
restrictions.

     18.  Reservation of Shares.

     The Company, during the term of the Plan, will reserve and keep available a
number of Shares sufficient to satisfy the requirements of the Plan.

     19.  Withholding Tax.

     The Company's obligation to deliver Shares upon exercise of Options and/or
SARs shall be subject to the Participant's satisfaction of all applicable
federal, state and local income and employment tax withholding obligations. The
Committee, in its discretion, may permit the Participant to satisfy the
obligation, in whole or in part, by irrevocably electing to have the Company
withhold Shares, or to deliver to the Company Shares that he already owns,
having a value equal to the amount required to be withheld.  The value of the
Shares to be withheld, or delivered to the Company, shall be based on the Market
Value of the Shares on the date the amount of tax to be withheld is to be
determined.  As an alternative, the Company may retain, or sell without notice,
a number of such Shares sufficient to cover the amount required to be withheld.
Notwithstanding any other provision of this Plan to the contrary, to the extent
that an Employee or Director elects to have shares of Common Stock withheld to
satisfy tax obligations, such withholding shall be limited to the minimum
required under the federal, state, and local law.

     20.  No Employment or Other Rights.

     In no event shall an Employee's or Director's eligibility to participate or
participation in the Plan create or be deemed to create any legal or equitable
right of the Employee, Director, or any other party to continue service with the
Company, the Bank, or any Affiliate of such corporations.  Except to the extent
provided in Paragraphs 6(b) and 7(a), no Employee or Director shall have a right
to be granted an Award or, having received an Award, the right to again be
granted an Award.  However, an Employee or Director who has been granted an
Award may, if otherwise eligible, be granted an additional Award or Awards.

     21.  Governing Law.

     The Plan shall be governed by and construed in accordance with the laws of
the State of Maryland, except to the extent that federal law shall be deemed to
apply.

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