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                                                                    EXHIBIT 10.2

                              BCSB BANKCORP, INC.
                          MANAGEMENT RECOGNITION PLAN


                                   ARTICLE I
                           ESTABLISHMENT OF THE PLAN

     1.01  The Company hereby establishes this Plan upon the terms and
conditions hereinafter stated.

     1.02  Through acceptance of their appointment to the Committee, each member
of the Committee hereby accepts his or her appointment hereunder upon the terms
and conditions hereinafter stated.

                                  ARTICLE II
                              PURPOSE OF THE PLAN

     2.01  The purpose of the Plan is to reward and retain personnel of
experience and ability in key positions of responsibility by providing Employees
and Directors of the Company, the Bank, and their Affiliates with a proprietary
interest in the Company, and as compensation for their past contributions to the
Bank, and as an incentive to make such contributions in the future.

                                  ARTICLE III
                                  DEFINITIONS

     The following words and phrases when used in this Plan with an initial
capital letter, shall have the meanings set forth below unless the context
clearly indicates otherwise.  Wherever appropriate, the masculine pronoun shall
include the feminine pronoun and the singular shall include the plural.

     3.01 "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 Internal Revenue Code of 1986, as amended.

     3.02 "Bank" means Baltimore County Savings Bank, F.S.B.

     3.03 "Beneficiary" means the person or persons designated by a Participant
to receive any benefits payable under the Plan in the event of such
Participant's death. Such person or persons shall be designated in writing on
forms provided for this purpose by the Committee and may be changed from time to
time by similar written notice to the Committee. In the absence of a written
designation, the Beneficiary shall be the Participant's surviving spouse, if any
or if none, his estate.

     3.04 "Board" means the Board of Directors of the Company.

     3.05 "Committee" means the Management Recognition Plan Committee appointed
by the Board pursuant to Article IV hereof.

     3.06 "Common Stock" means shares of the common stock of the Company.

     3.07 "Company" means BCSB Bankcorp, Inc.

     3.08 "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.
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     3.09 "Date of the MHC Reorganization" means the date of the Bank's mutual
holding company reorganization.

     3.10 "Director" means a member of the Board.

     3.11 "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.

     3.12 "Effective Date" means the date on which the Plan first becomes
effective, as determined under Section 8.07 hereof.

     3.13 "Employee" means any person who is employed by the Company or an
Affiliate.

     3.14 "Non-Employee Director" shall have the meaning provided in Rule 16b-3
of the General Rules and Regulations under the Securities Exchange Act of 1934,
as amended.

     3.15 [reserved].

     3.16 "Participant" means an Employee or Director who holds a Plan Share
Award.

     3.17 "Plan" means this BCSB Bankcorp, Inc. Management Recognition Plan.

     3.18 "Plan Shares" means shares of Common Stock held in the Trust which
are awarded or issuable to a Participant pursuant to the Plan.

     3.19 "Plan Share Award" means a right granted under this Plan to receive
Plan Shares.

     3.20 "Plan Share Reserve" means the shares of Common Stock held by the
Trustee pursuant to Sections 5.02 and 5.03.

     3.21 "Trust" and "Trust Agreement" mean that agreement entered into
pursuant to the terms hereof between the Company and the Trustee, and "Trust"
means the trust created thereunder.

     3.22 "Trustee" means that person(s) or entity appointed by the Board
pursuant to the Trust Agreement to hold legal title to the Plan assets for the
purposes set forth herein.

     3.23 "Year of Service" shall mean a full twelve-month period, measured from
the date of a Plan Share Award and each annual anniversary of that date, during
which a Participant's Continuous Service has not terminated for any reason.

                                  ARTICLE IV
                          ADMINISTRATION OF THE PLAN

     4.01 Role and Powers of the Committee. The Plan shall be administered and
interpreted by the Committee, which shall consist of not less than two members
of the Board who are Non-Employee Directors. In the absence at any time of a
duly appointed Committee, the Plan shall be administered by those members of the
Board who are Non-Employee Directors, and by the Board if there are less than
two Non-Employee Directors.

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     The Committee shall have all of the powers allocated to it in this and
other Sections of the Plan. 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 make Plan Share Awards to such
Employees as the Committee may select, (ii) to determine the form and content of
Plan Share Awards to be issued 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. Subject to
Section 4.02, the interpretation and construction by the Committee of any
provisions of the Plan or of any Plan Share Award granted hereunder shall be
final and binding. The Committee shall act by vote or written consent of a
majority of its members, and shall report its actions and decisions with respect
to the Plan to the Board at appropriate times, but in no event less than one
time per calendar year. The Committee may recommend to the Board one or more
persons or entity to act as Trustee(s) in accordance with the provisions of this
Plan and the Trust.

     4.02  Role of the Board.  The members of the Committee shall be appointed
or approved by, and will serve at the pleasure of, the Board.  The Board may in
its discretion from time to time remove members from, or add members to, the
Committee.  The Board shall have all of the powers allocated to it in this and
other Sections of the Plan, may take any action under or with respect to the
Plan which the Committee is authorized to take, and may reverse or override any
action taken or decision made by the Committee under or with respect to the
Plan, provided, however, that the Board may not revoke any Plan Share Award
already made or impair a participant's vested rights under a Plan Share Award.
Members of the Board who are eligible for or who have been granted Plan Share
Awards (other than pursuant to Section 6.04) may not vote on any matters
affecting the administration of the Plan or the grant of Plan Shares or Plan
Share Awards (although such members may be counted in determining the existence
of a quorum at any meeting of the Board during which actions with regard thereto
are taken).  Further, with respect to all actions taken by the Board in regard
to the Plan, such action shall be taken by a majority of the Board where such a
majority of the directors acting in the matter are Non-Employee Directors.

     4.03  Limitation on Liability.  No member of the Board or the Committee or
the Trustee(s) shall be liable for any determination made in good faith with
respect to the Plan or any Plan Shares or Plan Share Awards granted under it.
If a member of the Board or the Committee or any Trustee is a party or is
threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative, by
reason of anything done or not done by him in such capacity under or with
respect to the Plan, the Company shall indemnify such member, against expenses
(including attorneys' fees), judgments, fines and amounts paid in settlement
actually and reasonably incurred by him or her in connection with such action,
suit or proceeding if he or she acted in good faith and in a manner he or she
reasonably believed to be in the best interests of the Company and its
Affiliates and, with respect to any criminal action or proceeding, had no
reasonable cause to believe his conduct was unlawful.

                                   ARTICLE V
                       CONTRIBUTIONS; PLAN SHARE RESERVE

     5.01  Amount and Timing of Contributions.  The Board shall determine the
amount of shares to be contributed by the Company to the Trust, provided that
the Bank may also make contributions to the Trust.  Such amounts shall be paid
to the Trustee at the time of contribution.  No contributions to the Trust by
Employees shall be permitted.

     5.02  Investment of Trust Assets; Maximum Plan Share Awards.  The Trustee
shall invest Trust assets only in accordance with the Trust Agreement; provided
that the Trust shall not purchase, and Plan Share Awards shall not be made with
respect to, more than 91,464 shares.  Common Stock purchased by the Trust may be
newly issued shares, treasury shares, or shares repurchased on the open market
and held in a grantor trust.

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     5.03  Effect of Allocations, Returns and Forfeitures Upon Plan Share
Reserves.  Upon the allocation of Plan Share Awards under Section 6.02, the Plan
Share Reserve shall be reduced by the number of Shares subject to the Awards so
allocated.  Any Shares subject or attributable to an Award which may not be
earned because of a forfeiture by the Participant pursuant to Section 7.01 shall
be added to the Plan Share Reserve.

                                  ARTICLE VI
                           ELIGIBILITY; ALLOCATIONS

     6.01  Eligibility.  Except as otherwise provided in Section 6.04 and 6.05
hereof, the Committee shall make Plan Share Awards to Directors and Employees in
its discretion.  In selecting those Employees to whom Plan Share 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.

     6.02  Allocations.  The Committee will determine which Employees and
Directors will be granted discretionary Plan Share Awards, and the number of
Shares covered by each Plan Share Award, provided that in no event shall any
Awards be made which will violate the governing instruments of the Bank or its
Affiliates or any applicable federal or state law or regulation.  In the event
Plan Shares are forfeited for any reason or additional shares of Common Stock
are purchased by the Trustee, the Committee may, from time to time, determine
which of the Employees or Directors referenced in Section 6.01 above will be
granted additional Plan Share Awards to be awarded from the forfeited or
acquired Plan Shares.

     6.03  Form of Allocation.  As promptly as practicable after a determination
is made pursuant to Section 6.02 that a Plan Share Award is to be made, the
Committee shall notify the Participant in writing of the grant of the Award, the
number of Plan Shares covered by the Award, and the terms upon which the Plan
Shares subject to the Award may be earned.  The date on which the Committee so
notifies the Participant shall be considered the date of grant of the Plan Share
Awards.  The Committee shall maintain records as to all grants of Plan Share
Awards under the Plan.

     6.04  Automatic Grants to Non-Employee Directors.  Notwithstanding any
other provisions of this Plan, each Non-Employee Director, on the Effective Date
shall receive on said date a Plan Share Award as follows:

        Non-Employee Directors    Number of Shares Subject to Plan Share Award
        ----------------------    --------------------------------------------
        H. Adrian Cox                            5,700
        Frank W. Dunton                          5,700
        Henry V. Kahl                            5,700
        John J. Panzer                           5,700
        P. Louis Rohe                            5,700

        Advisory Director         Number of Shares Subject to Plan Share Award
        -----------------         --------------------------------------------
        Martin F. Meyers                         5,700

     Plan Share Awards received under the provisions of this Section shall
become vested and nonforfeitable according to the general rules set forth in
subsections (a), and (b) of Section 7.01, and the Committee shall have no
discretion to alter or accelerate said vesting requirements.  Unless otherwise
inapplicable or inconsistent with the provisions of this Section, the Plan Share
Awards to be granted hereunder shall be subject to all other provisions of this
Plan.

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     6.05  Automatic Grants to Employees.  On the Effective Date, each of the
following individuals shall receive a Plan Share Award as to the number of Plan
Shares listed below, provided that such award shall not be made to an individual
who is not an Employee on the Effective Date:

          Employee                Number of Shares Subject to Plan Share Award
          --------                --------------------------------------------
          Gary C. Loraditch                  5,700
          William M. Loughran                5,700

Plan Share Awards received under the provisions of this Section shall become
vested and nonforfeitable according to the general rules set forth in
subsections (a) and (b) of Section 7.01, and the Committee shall have no
discretion to alter said vesting requirements.  Unless otherwise inapplicable or
inconsistent with the provisions of this Section, the Plan Share Awards to be
granted hereunder shall be subject to all other provisions of this Plan.

     6.06  Allocations Not Required.  Notwithstanding anything to the contrary
in Sections 6.01 and 6.02, but subject to Sections 6.04 and 6.05, no Employee or
Director shall have any right or entitlement to receive a Plan Share Award
hereunder, such Awards being at the total discretion of the Committee, nor shall
any Employees or Directors as a group have such a right.  The Committee may,
with the approval of the Board (or, if so directed by the Board) return all
Common Stock in the Plan Share Reserve to the Company at any time, and cease
issuing Plan Share Awards.

                                  ARTICLE VII
            EARNINGS AND DISTRIBUTION OF PLAN SHARES; VOTING RIGHTS

7.01 Earning Plan Shares; Forfeitures.

     (a)  General Rules.  Unless otherwise specified by the Committee for a Plan
Share Award, 25% of the Plan Shares subject to a Plan Share Award shall become
vested and nonforfeitable upon the completion of each Year of Service by the
Participant, within the four year period immediately after the date of grant.

     (b)  Exception for Change in Control or Terminations Due to Death,
Disability, or Retirement. Notwithstanding the general rule contained in Section
7.01(a) above, all Plan Shares subject to a Plan Share Award held by a
Participant whose service with the Company or an Affiliate terminates due to the
Participant's death, Disability, or retirement after age 65, shall be deemed
earned as of the Participant's last day of service with the Company or an
Affiliate and shall be distributed as soon as practicable thereafter.  All
outstanding Plan Share Awards shall also be fully vested and become immediately
distributable upon a change in control.

     For the purpose of this Section 7.01(b), "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

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          (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 non-employee directors as to whether or not a Change of Control has
occurred shall be conclusive and binding.

     7.02  Accrual of Dividends.  Whenever Plan Shares are paid to a Participant
or Beneficiary under Section 7.03, such Participant or Beneficiary shall also be
entitled to receive, with respect to each Plan Share paid, an amount equal to
any cash dividends (including special large and nonrecurring dividends,
including one that has the effect of a return of capital to the Company's
stockholders) and a number of shares of Common Stock equal to any stock
dividends, declared and paid with respect to a share of Common Stock between the
date the relevant Plan Share Award was initially granted to such Participant and
the date the Plan Shares are being distributed.  There shall also be distributed
an appropriate amount of net earnings, if any, of the Trust with respect to any
cash dividends so paid out.

     7.03  Distribution of Plan Shares.

     (a)  Timing of Distributions:  General Rule.  Except as provided in
subsections (c), and (d) below, the Trustee shall distribute Plan Shares and
accumulated cash from dividends and interest to the Participant or his
Beneficiary, as the case may be, as soon as practicable after they have been
earned.  No fractional shares shall be distributed.

     (b)  Form of Distribution.  The Trustee shall distribute all Plan Shares,
together with any shares representing stock dividends, in the form of Common
Stock.  One share of Common Stock shall be given for each Plan Share earned.
Payments representing cash dividends (and earnings thereon) shall be made in
cash.

     (c)  Withholding.  The Trustee shall withhold from any cash payment made
under this Plan sufficient amounts to cover any applicable withholding and
employment taxes, and if the amount of such cash payment is not sufficient, the
Trustee shall require the Participant or Beneficiary to pay to the Trustee the
amount required to be withheld as a condition of delivering the Plan Shares.
The Trustee shall pay over to the Company or Affiliate which employs or employed
such Participant any such amount withheld from or paid by the Participant or
Beneficiary.

     (d)  Timing: Exception for 10% Shareholders.  Notwithstanding Subsections
(a) and (b) above, no Plan Shares may be distributed prior to the date which is
five (5) years from the Date of the MHC Reorganization to the extent the
Participant or Beneficiary, as the case may be, would after receipt of such
Shares own in excess of ten percent (10%) of the issued and outstanding shares
of Common Stock unless such action is approved in advance by a majority vote of
non-employee directors of the Board.  To the extent this limitation would delay
the date on which a Participant receives Plan Shares, the Participant may elect
to receive from the Trust, in lieu of such Plan Shares, the cash equivalent
thereof.  Any Plan Shares remaining undistributed solely by reason of the
operation of this Subsection (d) shall be distributed to the Participant or his
Beneficiary on the date which is five years from the Date of the MHC
Reorganization.

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     (e)  Regulatory Exceptions.  No Plan Shares shall be distributed unless and
until all of the requirements of all applicable law and regulation shall have
been fully complied with, including the receipt of approval of the Plan by the
stockholders of the Company by such vote, if any, as may be required by
applicable law and regulations.

     7.04  Voting of Plan Shares.  All shares of Common Stock held by the Trust
(whether or not subject to a Plan Share Award) shall be voted by the Trustee in
the same proportion as the trustee of the Company's Employee Stock Ownership
Plan votes Common Stock held in the trust associated therewith, and in the
absence of any such voting, shall be voted in the manner directed by the Board.

     7.05  Deferral Elections by Participants.

     (a)  Elections to Defer.  At any time prior to December 31/st/ of any year
prior to the date on which a Participant becomes vested in any shares subject to
his or her Plan Share Award, a Participant who is a nonemployee Director or a
member of a select group of management or highly compensated employees (within
the meaning of the Employees' Retirement Income Security Act of 1973) may
irrevocably elect, on the form attached hereto as Exhibit "A" (the "Election
Form"), to defer the receipt of all or a percentage of the Plan Shares that
would otherwise be transferred to the Participant upon the vesting of such award
(the "Deferred Shares").

     (b)  Recordkeeping; Holding of Deferred Shares. The MRP Committee shall
establish and maintain an individual account in the name of each Participant who
files an Election Form for the purpose of tracking deferred earnings
attributable to cash dividends paid on Deferred Shares (the "Cash Account").  On
the last day of each fiscal year of the Company, the Committee shall credit to
the Participant's Cash Account earnings on the balance of the Cash Account at a
rate equal to the dividend-adjusted total return on Common Stock, as determined
from time to time by the MRP Committee in its sole discretion.  The Trustees
shall hold each Participant's Deferred Shares and Deferred Earnings in the Trust
until distribution is required pursuant to the election set forth in the
Participant's Election Form.

     (c)  Distributions of Deferred Shares.  The Trustee shall distribute a
Participant's Deferred Shares and Deferred Earnings in accordance with the
Participant's Election Form.  All distributions made by the Company and/or the
Trustees pursuant to elections made hereunder shall be subject to applicable
federal, state, and local tax withholding and to such other deductions as shall
at the time of such payment be required under any income tax or other law,
whether of the United States or any other jurisdiction, and, in the case of
payments to a beneficiary, the delivery to the Committee and/or Trustees of all
necessary waivers, qualifications and other documentation.  Within 90 days after
receiving notice of a Participant's death, the Trustee shall distribute any
balance of the Participant's Deferred Shares and Deferred Earnings to the
Participant's designated beneficiary, if living, or if such designated
beneficiary is deceased or the Participant failed to designate a beneficiary, to
the Participant's estate.   If, on the other hand, a Participant's Continuous
Service terminates for a reason other than the Participant's death, Disability,
early retirement, or normal retirement, the Participant's Deferred Shares and
Deferred Earnings shall be distributed to the Participant in a lump sum
occurring as soon as reasonably practicable.  The distribution provisions of a
Participant's Election Form shall become irrevocable on the date that occurs (i)
one year before the Participant's termination of Continuous Service for a reason
other than death, and (ii) on the Participant's death if that terminates the
Participant's Continuous Service.

     (d)  Hardship Withdrawals.  Notwithstanding any other provision of the Plan
or a Participant's Election Form, in the event the Participant suffers an
unforeseeable emergency hardship within the contemplation of this paragraph, the
Participant may apply to the Committee for an immediate distribution of all or a
portion of his Deferred Shares and Deferred Earnings.  The hardship must result
from a sudden and unexpected illness or accident of the Participant or a
dependent of the Participant, casualty loss of property, or other similar
conditions beyond the control of the Participant.  Examples of purposes which
are not considered hardships include post-secondary school expenses or the
desire to purchase a residence.  In no event will a distribution be made to the
extent the hardship could be relieved through reimbursement or compensation by
insurance or otherwise, or by liquidation of the Participant's

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<PAGE>

nonessential assets to the extent such liquidation would not itself cause a
severe financial hardship. The amount of any distribution hereunder shall be
limited to the amount necessary to relieve the Participant's financial hardship.
The determination of whether a Participant has a qualifying hardship and the
amount which qualifies for distribution, if any, shall be made by the Committee
in its sole discretion. The Committee may require evidence of the purpose and
amount of the need, and may establish such application or other procedures as it
deems appropriate.

     (e) Rights to Deferred Shares and Earnings.  A Participant may not assign
his or her claim to Deferred Shares and Deferred Earnings during his or her
lifetime, except in accordance with Section 8.03 of this Plan. A Participant's
right to Deferred Shares and Deferred Earnings shall at all times constitute an
unsecured promise of the Company to pay benefits as they come due.  The right of
the Participant or his or her beneficiary to receive benefits hereunder shall be
solely an unsecured claim against the general assets of the Company.  Neither
the Participant nor his or her beneficiary shall have any claim against or
rights in any specific assets or other fund of the Company, and any assets in
the Trust shall be deemed general assets of the Company.

                                 ARTICLE VIII
                                 MISCELLANEOUS

     8.01  Adjustments for Capital Changes.

     (a) Recapitalizations; Stock Splits, etc.  The number and kind of shares
which may be purchased under the Plan, and the number and kind of shares subject
to outstanding Plan Share Awards, shall be proportionately adjusted for any
increase, decrease, change or exchange of shares of Common Stock 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 Plan
Share Awards shall be adjusted for any change or exchange of shares of Common
Stock for a different number or kind of shares or other securities which results
from the Transaction.

     (c) Conditions and Restrictions on New, Additional, or Different Shares or
Securities.  If, by reason of any adjustment made pursuant to this Section, 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 Plan Share Award before the adjustment
was made.  In addition, the Committee shall have the discretionary authority to
impose on the Shares subject to Plan Share Awards to Employees such restrictions
as the Committee may deem appropriate or desirable, including but not limited to
a right of first refusal, or repurchase option, or both of these restrictions.

     (d) Other Issuances.  Except as expressly provided in this Section, the
issuance by the Company or an Affiliate of shares of stock of any class, or of
securities convertible into shares of Common Stock 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 or class of shares of
Common Stock then subject to Plan Share Awards or reserved for issuance under
the Plan.

     8.02  Amendment and Termination of Plan.  The Board may, by resolution, at
any time amend or terminate the Plan; provided that no amendment or termination
of the Plan shall, without the written consent of a Participant, impair any
rights or obligations under a Plan Share Award theretofore granted to the
Participant.

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<PAGE>

     The power to amend or terminate the Plan in accordance with this Section
8.02 shall include the power to direct the Trustee to return to the Company all
or any part of the assets of the Trust, including shares of Common Stock held in
the Plan Share Reserve.  However, the termination of the Trust shall not affect
a Participant's right to earn Plan Share Awards and to receive a distribution of
Common Stock relating thereto, including earnings thereon, in accordance with
the terms of this Plan and the grant by the Committee or the Board.

     8.03  Nontransferability.  Plan Share 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 Plan Share Awards
may transfer such Awards 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.  Plan Share 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 Section 8.03.  Plan Share Awards which are transferred
pursuant to this Section 8.03 shall be exercisable by the transferee according
to the same terms and conditions as applied to the Participant.

     8.04  No Employment or Other Rights.  Neither the Plan nor any grant of a
Plan Share Award or Plan Shares hereunder nor any action taken by the Trustee,
the Committee or the Board in connection with the Plan shall create any right,
either express or implied, on the part of any Employee or Director to continue
in the service of the Company, the Bank, or an Affiliate thereof.

     8.05  Voting and Dividend Rights.  No Participant shall have any voting or
dividend rights or other rights of a stockholder in respect of any Plan Shares
covered by a Plan Share Award prior to the time said Plan Shares are actually
distributed to him.

     8.06  Governing Law.  The Plan and Trust shall be governed and construed
under the laws of the State of Maryland to the extent not preempted by Federal
law.

     8.07  Effective Date.  The Plan shall become effective immediately upon its
approval by a favorable vote of stockholders of the Company who own 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.  In no event
shall Plan Share Awards be made prior to the Effective Date.

     8.08  Term of Plan.  This Plan shall remain in effect until the earlier of
(i) termination by the Board, or (ii) the distribution of all assets of the
Trust.  Termination of the Plan shall not affect any Plan Share Awards
previously granted, and such Awards shall remain valid and in effect until they
have been earned and paid, or by their terms expire or are forfeited.

     8.09  Tax Status of Trust.  It is intended that (i) the Trust associated
with the Plan be treated as a grantor trust of the Company under the provisions
of Section 671 et seq. of the Code, as the same may be amended from time to
               -- ---
time, and (ii) that in accordance with Revenue Procedure 92-65 (as the same may
be amended from time to time), Participants have the status of general unsecured
creditors of the Company, the Plan constitutes a mere unfunded promise to make
benefit payments in the future, the Plan is unfunded for tax purposes and for
purposes of Title I of the Employee Retirement Income Security Act of 1974, as
amended, and the Trust has been and will continue to be maintained in conformity
with Revenue Procedure 92-64 (as the same may be amended from time to time).

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