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                                                                 EXHIBIT 10-6





                           COMMONWEALTH BANCORP, INC.
1996 AMENDED RECOGNITION AND RETENTION PLAN AND TRUST AGREEMENT


                                   ARTICLE I
                      ESTABLISHMENT OF THE PLAN AND TRUST

     1.01 Commonwealth Bancorp, Inc. (the "Corporation") hereby establishes the
1996 Amended Recognition and Retention Plan (the "Plan") and Trust (the
"Trust") upon the terms and conditions hereinafter stated in this 1996 Amended
Recognition and Retention Plan and Trust Agreement (the "Agreement").

     1.02 The Trustee hereby accepts this Trust and agrees to hold the Trust
assets existing on the date of this Agreement and all additions and accretions
thereto upon the terms and conditions hereinafter stated.


                                   ARTICLE II
                              PURPOSE OF THE PLAN

     2.01 The purpose of the Plan is to retain personnel of experience and
ability in key positions by providing Employees and Non-Employee Directors of
the Corporation and Commonwealth Bank ("Bank") with a proprietary interest in
the Corporation as compensation for their contributions to the Corporation, the
Bank, and any other Subsidiaries and as an incentive to make such contributions
in the future.


                                  ARTICLE III
                                  DEFINITIONS

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

     3.01 "Bank" means Commonwealth Bank, the wholly-owned subsidiary of the
Corporation.

     3.02 "Beneficiary" means the person or persons designated by a Recipient
to receive any benefits payable under the Plan in the event of such Recipient'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 Recipient's surviving spouse, if any,
or if none, his estate.

     3.03 "Board" means the Board of Directors of the Corporation.






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     3.04  "Change in Control of the Corporation" shall mean a change in
control of a nature that would be required to be reported in response to Item
6(e) of Schedule 14A of Regulation 14A promulgated under the Exchange Act,
whether or not the Corporation in fact is required to comply with Regulation
14A thereunder; provided that, without limitation, such a change in control
shall be deemed to have occurred if (i) any "person" (as such term is used in
Sections 13(d) and 14(d) of the Exchange Act), other than the Corporation, is
or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Corporation representing 25%
or more of the combined voting power of the Corporation's then outstanding
securities, or (ii) during any period of twenty-four consecutive months during
the term of a Plan Share Award, individuals who at the beginning of such period
constitute the Board of the Corporation cease for any reason to constitute at
least a majority thereof, unless the election, or the nomination for election
by the Corporation's stockholders, of each director who was not a director at
the date of grant has been approved in advance by directors representing at
least two-thirds of the directors then in office who were directors at the
beginning of the period.

     3.05 "Code" means the Internal Revenue Code of 1986, as amended.

     3.06 "Committee" means the committee appointed by the Board pursuant to
Article IV hereof.

     3.07 "Common Stock" means shares of the common stock, $.10 par value per
share, of the Corporation.

     3.08 "Disability" means any physical or mental impairment which qualifies
an individual for disability benefits under the applicable long-term disability
plan maintained by the Corporation or any Subsidiary or, if no such plan
applies, which would qualify such individual for disability benefits under the
long-term disability plan maintained by the Corporation, if such individual
were covered by that plan.

     3.09  "Effective Date" means the day upon which the Board approves this
Plan.

     3.10 "Employee" means any person who is employed by the Corporation, the
Bank, or any Subsidiary, or is an officer of the Corporation, the Bank, or any
Subsidiary, including officers or other employees who may be directors of the
Corporation.

     3.11  "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

     3.12 "Non-Employee Director" means a member of the Board of the
Corporation or the Board of Directors of the Bank, including a Director
Emeritus of the Board of the Corporation or the Board of Directors of the Bank,
who is not an Employee.

     3.13 "Plan Shares" or "Shares" means shares of Common Stock held in the
Trust which may be distributed to a Recipient pursuant to the Plan.


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     3.14 "Plan Share Award" or "Award" means a right granted under this Plan
to receive a distribution of Plan Shares upon completion of the service
requirements described in Article VII.

     3.15 "Recipient" means an Employee or Non-Employee Director who receives a
Plan Share Award under the Plan.

     3.16 "Retirement" means a termination of employment which constitutes a
"retirement" under any applicable qualified pension benefit plan maintained by
the Corporation or a Subsidiary Corporation, or, if no such plan is applicable,
which would constitute "retirement" under the Corporation's pension benefit
plan, if such individual were a participant in that plan.

     3.17 "Subsidiary" means the Bank and any other subsidiaries of the
Corporation or the Bank which, with the consent of the Board, agree to
participate in this Plan.

     3.18 "Trustee" means such firm, entity or persons approved by the Board to
hold legal title to the Plan for the purposes set forth herein.


                                   ARTICLE IV
                           ADMINISTRATION OF THE PLAN

     4.01 ROLE OF THE COMMITTEE.  The Plan shall be administered and
interpreted by the Committee, which shall consist of two or more members of the
Board, each of whom shall be a Non-Employee Director, as defined in Rule
16b-3(b)(3)(i) of the Exchange Act.  The Committee shall have all of the powers
allocated to it in this and other Sections of the Plan.  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 in the absence of
action by the Board.  The Committee shall act by vote or written consent of a
majority of its members.  Subject to the express provisions and limitations of
the Plan, the Committee may adopt such rules, regulations and procedures as it
deems appropriate for the conduct of its affairs.  The Committee 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.

     4.02 ROLE OF THE BOARD.  The members of the Committee and the Trustee
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, and may remove or replace the Trustee,
provided that any directors who are selected as members of the Committee shall
be Non-Employee Directors.

     4.03 LIMITATION ON LIABILITY.  No member of the Board or the Committee
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 is a


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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 Corporation shall, subject to
the requirements of applicable laws and regulations, indemnify such member
against all liabilities and expenses (including attorneys' fees), judgments,
fines and amounts paid in settlement actually and reasonably incurred by him in
connection with such action, suit or proceeding if he acted in good faith and
in a manner he reasonably believed to be in the best interests of the
Corporation and any Subsidiaries and, with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct was unlawful.

     4.04 COMPLIANCE WITH LAWS AND REGULATIONS.  All Awards granted hereunder
shall be subject to all applicable federal and state laws, rules and
regulations and to such approvals by any government or regulatory agency or
stockholders as may be required.


                                   ARTICLE V
                                 CONTRIBUTIONS

     5.01 AMOUNT AND TIMING OF CONTRIBUTIONS.  The Board shall determine the
amount (or the method of computing the amount) and timing of any contributions
by the Corporation and any Subsidiaries to the Trust established under this
Plan.  Such amounts may be paid in cash or in shares of Common Stock and shall
be paid to the Trust at the designated time of contribution.  No contributions
by Employees or Non-Employee Directors shall be permitted.

     5.02 INVESTMENT OF TRUST ASSETS; NUMBER OF PLAN SHARES.  Subject to
Section 8.02 hereof, the Trustee shall invest all of the Trust's assets
primarily in Common Stock.  The aggregate number of Plan Shares available for
distribution pursuant to this Plan shall be 394,886 shares of Common Stock,
subject to adjustment as provided in Section 9.01 hereof, which shares shall be
purchased (from the Corporation and/or, if permitted by applicable regulations,
from stockholders thereof) by the Trust with funds contributed by the
Corporation.  During the time this Plan remains in effect, Awards to each
Employee and each Non-Employee Director shall not exceed 25% and 5% of the
shares of Common Stock available under the Plan, respectively.


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                                   ARTICLE VI
                            ELIGIBILITY; ALLOCATIONS

     6.01 AWARDS TO NON-EMPLOYEE DIRECTORS.   A Plan Share Award shall be
allocated to each Non-Employee Director as of the day on which the Plan is
approved by stockholders of the Corporation.  Specifically, on such date, each
Non-Employee Director shall receive a Plan Share Award of 14,103 shares of
Common Stock.  Plan Share Awards to Non-Employee Directors in the aggregate
shall not exceed 30% of the number of shares available under this Plan and no
individual Non-Employee Director may receive Plan Share Awards in excess of 5%
of the number of shares available under this Plan.

     6.02 AWARDS TO EMPLOYEES.  Plan Share Awards may be made to such Employees
as may be selected by the Board or the Committee.  In selecting those Employees
to whom Plan Share Awards may be granted and the number of Shares covered by
such Awards, the Board or the Committee shall consider the duties,
responsibilities and performance of each respective Employee, his present and
potential contributions to the growth and success of the Corporation, his
salary and such other factors as deemed relevant to accomplishing the purposes
of the Plan.  The Board or the Committee may but shall not be required to
request the written recommendation of the Chief Executive Officer of the
Corporation other than with respect to Plan Share Awards to be granted to him.

     6.03 FORM OF ALLOCATION.  As promptly as practicable after an allocation
pursuant to Sections 6.01 or 6.02 that a Plan Share Award is to be issued, the
Board or the Committee shall notify the Recipient in writing of the grant of
the Award, the number of Plan Shares covered by the Award, the terms upon which
the Plan Shares subject to the Award shall be distributed to the Recipient, and
the rate at which the Plan Share Award shall become vested.  The date on which
the Board or the Committee so notifies the Recipient shall be considered the
date of grant of the Plan Share Award.  The Board or the Committee shall
maintain records as to all grants of Plan Share Awards under the Plan.

     6.04 ALLOCATIONS NOT REQUIRED TO ANY SPECIFIC EMPLOYEE OR NON-EMPLOYEE
DIRECTOR.  Notwithstanding anything to the contrary in Sections 6.01 or 6.02
hereof, no Employee or Non-Employee Director shall have any right or
entitlement to receive a Plan Share Award hereunder, such Awards being at the
total discretion of the Board or the Committee.

                                  ARTICLE VII
             EARNING AND DISTRIBUTION OF PLAN SHARES; VOTING RIGHTS

     7.01 EARNING PLAN SHARES; FORFEITURES.

     (a) GENERAL RULES.  Subject to the terms hereof, Plan Share Awards shall
be earned by a Recipient at the rate determined by the Board or the Committee
pursuant to Article VI hereof.  If the employment of an Employee or service as
a Non-Employee Director is terminated prior to the date such Awards are vested
for any reason (except as


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specifically provided in subsections (b), (c) and (d) below), the Recipient
shall forfeit the right to any Shares subject to the Award which have not
theretofore been earned.  In the event of a forfeiture of the right to any
Shares subject to an Award, such forfeited Shares shall become available for
allocation pursuant to Sections 6.01 and 6.02 hereof as if no Award had been
previously granted with respect to such Shares.  No fractional shares shall be
distributed pursuant to this Plan.

     (b) EXCEPTION FOR TERMINATIONS DUE TO DEATH, DISABILITY OR RETIREMENT.
Notwithstanding the general rule contained in Section 7.01(a), all Plan Shares
subject to a Plan Share Award held by a Recipient whose employment with the
Corporation or any Subsidiary or service as a Non-Employee Director terminates
due to death, Disability or Retirement shall be deemed earned as of the
Recipient's last day of employment with or service to the Corporation or any
Subsidiary and shall be distributed as soon as practicable thereafter.

     (c) EXCEPTION FOR TERMINATIONS AFTER A CHANGE IN CONTROL OF THE
CORPORATION.  Notwithstanding the general rule contained in Section 7.01(a),
all Plan Shares subject to a Plan Share Award held by a Recipient shall be
deemed to be earned in the event of a Change in Control of the Corporation.

     (d) REVOCATION FOR MISCONDUCT.  Notwithstanding anything hereinafter to
the contrary, the Board may by resolution immediately revoke, rescind and
terminate any Plan Share Award, or portion thereof, previously awarded under
this Plan, to the extent Plan Shares have not been distributed hereunder to the
Recipient, whether or not yet earned, in the case of an Employee who is
discharged from the employ of the Corporation or any Subsidiary for cause (as
hereinafter defined).  Termination for cause 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.  Plan Share
Awards granted to a Non-Employee Director who is removed for cause pursuant to
the Corporation's Articles of Incorporation and Bylaws or the Bank's Charter
and Bylaws shall terminate as of the effective date of such removal.

     7.02 DISTRIBUTION OF DIVIDENDS.  Any cash dividends (including special
large and nonrecurring dividends including one that has the effect of a return
of capital to the Corporation's stockholders) or stock dividends declared in
respect of each unvested Plan Share Award will be held by the Trust for the
benefit of the Recipient on whose behalf such Plan Share Award is then held by
the Trust and such dividends, including any interest thereon, will be paid out
proportionately by the Trust to the Recipient thereof as soon as practicable
after the Plan Share Awards become earned.  Any cash dividends or stock
dividends declared in respect of each vested Plan Share held by the Trust will
be paid by the Trust, as soon as practicable after the Trust's receipt thereof,
to the Recipient on whose behalf such Plan Share is then held by the Trust.


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     7.03 DISTRIBUTION OF PLAN SHARES.

     (a) TIMING OF DISTRIBUTIONS:  GENERAL RULE.  Plan Shares shall be
distributed to the Recipient or his Beneficiary, as the case may be, as soon as
practicable after they have been earned.

     (b) FORM OF DISTRIBUTIONS.  All Plan Shares, together with any Shares
representing stock dividends, shall be distributed in the form of Common Stock.
One share of Common Stock shall be given for each Plan Share earned and
distributable.  Payments representing cash dividends shall be made in cash.

     (c) WITHHOLDING.  The Trustee may withhold from any cash payment or Common
Stock distribution made under this Plan sufficient amounts to cover any
applicable withholding and employment taxes, and if the amount of a cash
payment is insufficient, the Trustee may require the Recipient 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 Corporation or
any Subsidiary which employs or employed such Recipient any such amount
withheld from or paid by the Recipient or Beneficiary.

     (d) RESTRICTIONS ON SELLING OF PLAN SHARES.  Plan Share Awards may not be
sold, assigned, pledged or otherwise disposed of prior to the time that they
are earned and distributed pursuant to the terms of this Plan.  Following
distribution, the Board or the Committee may require the Recipient or his
Beneficiary, as the case may be, to agree not to sell or otherwise dispose of
his distributed Plan Shares except in accordance with all then applicable
Federal and state securities laws, and the Board or the Committee may cause a
legend to be placed on the stock certificate(s) representing the distributed
Plan Shares in order to restrict the transfer of the distributed Plan Shares
for such period of time or under such circumstances as the Board or the
Committee, upon the advice of counsel, may deem appropriate.

     7.04 VOTING OF PLAN SHARES.  After a Plan Share Award has been made, the
Recipient shall be entitled to direct the Trustee as to the voting of the Plan
Shares which are covered by the Plan Share Award and which have not yet been
earned and distributed to him pursuant to Section 7.03, subject to rules and
procedures adopted by the Committee for this purpose. All shares of Common
Stock held by the Trust which have not been awarded under a Plan Share Award
and shares which have been awarded as to which Recipients have not directed the
voting shall be voted by the Trustee in the same proportion as voted by the
Trustee for shares allocated and which the Trustee receives directions for such
vote by Recipients.


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                                  ARTICLE VIII
                                     TRUST

     8.01 TRUST.  The Trustee shall receive, hold, administer, invest and make
distributions and disbursements from the Trust in accordance with the
provisions of the Plan and Trust and the applicable directions, rules,
regulations, procedures and policies established by the Committee pursuant to
the Plan.

     8.02 MANAGEMENT OF TRUST.  It is the intent of this Plan and Trust that
the Trustee shall have complete authority and discretion with respect to the
arrangement, control and investment of the Trust, and that the Trustee shall
invest all assets of the Trust in Common Stock to the fullest extent
practicable, except to the extent that the Trustee determines that the holding
of monies in cash or cash equivalents is necessary to meet the obligations of
the Trust.  In performing their duties, the Trustee shall have the power to do
all things and execute such instruments as may be deemed necessary or proper,
including the following powers:

     (a) To invest up to one hundred percent (100%) of all Trust assets in
Common Stock without regard to any law now or hereafter in force limiting
investments for trustees or other fiduciaries.  The investment authorized
herein may constitute the only investment of the Trust, and in making such
investment, the Trustee are authorized to purchase Common Stock from the
Corporation or from any other source, and such Common Stock so purchased may be
outstanding, newly issued, or treasury shares.

     (b) To invest any Trust assets not otherwise invested in accordance with
(a) above, in such deposit accounts, and certificates of deposit, obligations
of the United States Government or its agencies or such other investments as
shall be considered the equivalent of cash.

     (c) To sell, exchange or otherwise dispose of any property at any time
held or acquired by the Trust.

     (d) To cause stocks, bonds or other securities to be registered in the
name of a nominee, without the addition of words indicating that such security
is an asset of the Trust (but accurate records shall be maintained showing that
such security is an asset of the Trust).

     (e) To hold cash without interest in such amounts as may in the opinion of
the Trustee be reasonable for the proper operation of the Plan and Trust.

     (f) To employ brokers, agents, custodians, consultants and accountants.



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     (g) To hire counsel to render advice with respect to their rights, duties
and obligations hereunder, and such other legal services or representation as
they may deem desirable.

     (h) To hold funds and securities representing the amounts to be
distributed to a Recipient or his Beneficiary as a consequence of a dispute as
to the disposition thereof, whether in a segregated account or held in common
with other assets of the Trust.

     Notwithstanding anything herein contained to the contrary, the Trustee
shall not be required to make any inventory, appraisal or settlement or report
to any court, or to secure any order of court for the exercise of any power
herein contained, or give bond.

     8.03 RECORDS AND ACCOUNTS.  The Trustee shall maintain accurate and
detailed records and accounts of all transactions of the Trust, which shall be
available at all reasonable times for inspection by any legally entitled person
or entity to the extent required by applicable law, or any other person
determined by the Board or the Committee.

     8.04 EXPENSES.  All costs and expenses incurred in the operation and
administration of this Plan shall be borne by the Corporation or, in the
discretion of the Corporation, the Trust.

     8.05 INDEMNIFICATION.  Subject to the requirements of applicable laws and
regulations, the Corporation shall indemnify, defend and hold the Trustee
harmless against all claims, expenses and liabilities arising out of or related
to the exercise of the Trustee's powers and the discharge of their duties
hereunder, unless the same shall be due to their gross negligence or willful
misconduct.


                                   ARTICLE IX
                                 MISCELLANEOUS

     9.01 ADJUSTMENTS FOR CAPITAL CHANGES.  The aggregate number of Plan Shares
available for distribution pursuant to the Plan Share Awards, the number of
Shares to which any Plan Share Award relates and the maximum number of Plan
Shares which may be granted to any Employee, to any Non-Employee Director and
to all Non-Employee Directors as a group shall be proportionately adjusted for
any increase or decrease in the total number of outstanding shares of Common
Stock issued subsequent to the effective date of the Plan resulting from any
split, subdivision or consolidation of shares or other capital adjustment, or
other increase or decrease in such shares effected without receipt or payment
of consideration by the Corporation.  In addition, in the event the Corporation
distributes warrants or other securities or assets on a pro rata basis to all
holders of Common Stock of the Corporation without receipt or payment of
consideration by the Corporation (the "Distribution"), then the Corporation
shall (a) make appropriate arrangements so that the holders of Awards
outstanding immediately prior to the date of the Distribution receive



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upon receipt of the underlying Plan Shares the benefits of the Distribution as
if the holders had received the Plan Shares immediately prior to the record
date used for the Distribution, and (b) depending upon the terms of the
Distribution, adjust the number of Plan Shares underlying any Awards
outstanding immediately prior to the date of the Distribution so that the
economic value of the Award at the time of the Distribution is neither
increased nor decreased by the Distribution, in which event the aggregate
number of Plan Shares available for distribution pursuant to Plan Share Awards
and the maximum number of Plan Shares which may be granted to any Employee, to
any Non-Employee Director and to all Non-Employee Directors as a group shall
also be proportionately adjusted.

     9.02 AMENDMENT AND TERMINATION OF PLAN.  The Board may, by resolution, at
any time amend or terminate the Plan, subject to any required stockholder
approval or any stockholder approval which the Board may deem to be advisable
for any reason, such as for the purpose of obtaining or retaining any statutory
or regulatory benefits under tax, securities or other laws or satisfying any
applicable stock exchange listing requirements.  The Board may not, without the
consent of the Recipient, alter or impair his Plan Share Award except as
specifically authorized herein.  Upon termination of the Plan, the Recipient's
Plan Share Awards shall be distributed to the Recipient regardless of whether
or not such Plan Share Award had otherwise been earned under the service
requirements set forth in Article VII.

     9.03 NONTRANSFERABLE.  Plan Share Awards and rights to Plan Shares shall
not be transferable by a Recipient, and during the lifetime of the Recipient,
Plan Shares may only be earned by and paid to a Recipient who was notified in
writing of an Award by the Committee pursuant to Section 6.03  No Recipient or
Beneficiary shall have any right in or claim to any assets of the Plan or
Trust, nor shall the Corporation or any Subsidiary be subject to any claim for
benefits hereunder.

     9.04 EMPLOYMENT OR SERVICE 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
on the part of any Employee or Non-Employee Director to continue in such
capacity.

     9.05 VOTING AND DIVIDEND RIGHTS.  No Recipient 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, except as expressly provided in Sections 7.02
and 7.04 above, prior to the time said Plan Shares are actually earned and
distributed to him.

     9.06 GOVERNING LAW.  To the extent not governed by federal law, the Plan
and Trust shall be governed by the laws of the Commonwealth of Pennsylvania.

     9.07 EFFECTIVE DATE.  This Plan shall be effective as of the Effective
Date, and Awards may be granted hereunder as of or after the Effective Date and
as long as the Plan remains in effect.  Notwithstanding the foregoing or
anything to the contrary in this Plan, the



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implementation of this Plan and any Awards granted pursuant hereto are subject
to the approval of the Corporation's stockholders.

     9.08 TERM OF PLAN.  This Plan shall remain in effect until the earlier of
(1) ten (10) years from the Effective Date, (2) termination by the Board, or
(3) the distribution to Recipients and Beneficiaries of all assets of the
Trust.

     9.09 TAX STATUS OF TRUST.  It is intended that the trust established
hereby be treated as a Grantor Trust of the Corporation under the provisions of
Section 671 et seq. of the Code, as the same may be amended from time to time.




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     IN WITNESS WHEREOF, the Corporation has caused this Agreement to be
executed by its duly authorized officers and the corporate seal to be affixed
and duly attested, and the initial Trustee of the Trust established pursuant
hereto have duly and validly executed this Agreement, all on this ____ day of
January 1998.


                                   COMMONWEALTH BANCORP, INC.



                                   By:
                                      --------------------------------
                                      Charles H. Meacham
                                      Chairman, President and
                                      Chief Executive Officer




                     ATTEST:                    TRUSTEES:



                     -------------------------  -------------------------------
                     Patricia J. Ward           Joseph E. Colen, Jr.
                     President and Secretary


                                                 ------------------------------
                                                 George C. Beyer, Jr.



                                                 ------------------------------
                                                 Harry Mirabile



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